Investor Presentaiton

Resilience from Stable Income Sources Minimum rents and guaranteed income provide downside protection while variable components offer upside in a recovery E Stable income sources¹ contributed 52% of 2H 2022 gross profit (1H 2022: 68%) Master leases • Master lease gross profit grew 6% y-o-y in 2H 2022 mainly due to higher variable rent; of CLAS' 33 master leases, 22 have fixed and variable rent components, and 19 have received variable rent • • Master leases due in 2023 are in France and Australia, and Notes: 1. 2. negotiations are underway Lease expiry for master leases² (as at 31 Dec 2022) 15% 13% 14% 4% 54% 2023 2024 2025 2026 2027 & beyond • • Longer-stay properties (rental housing and student accommodation) Longer-stay properties contributed c.15% of 2H 2022 gross profit Occupancy of the properties remained stable at >95% Student accommodation 99% leased for the academic year (AY) 2022-2023, compared to >95% for the last AY; with above-market rent growth of c.6% y-o-y Turnkey acquisition of 2 Japan rental housing properties (Eslead Residence Bentencho Grande and Eslead Residence Umeda Grande) completed in 4Q 2022 Management contracts with minimum guaranteed income (MCMGI) Operating performance of MCMGI properties have reached or surpassed pre-Covid 2H 2019 levels on continued recovery in Europe Upon its expiry in Nov 2022, the master lease for Ascott Orchard Singapore was converted to MCMGI, which offers greater upside potential for CLAS Stable income sources include master leases, MCMGI, rental housing and student accommodation Percentage of gross rental income for master leases expiring at respective years over the total gross rental income for all master leases CapitaLand Ascott Trust Investor Presentation 13

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