Investor Presentaiton

Portfolio Valuation Notwithstanding higher capitalisation and discount rates, CLAS recorded a gross fair value gain of c.S$200 mil¹ due to stronger operating performance Country Currency Value of Properties² as at 31 Dec 2022 (local currency) Net Book Value as at 31 Dec 2022 (local currency)³ Variance (%) Australia AUD 1,011.2 942.0 7% Belgium EUR 37.5 39.9 -6% China RMB 1,347.2 1,415.1 -5% • France EUR 410.7 412.9 -1% Germany EUR 158.2 159.5 -1% Indonesia IDR 1,012,356.4 993,268.8 2% Japan JPY 127,646.3 127,110.0 Malaysia MYR 133.7 133.6 Philippines PHP 4,587.6 4,534.9 1% Singapore SGD 1,249.7 1,163.4 7% South Korea KRW 153,000.0 150,250.0 2% >2% surplus over net book value as at 31 December 2022 Despite higher capitalisation and discount rates across markets (except for Japan), the stronger operating performance and improving outlook of the portfolio led to the higher portfolio valuation Key markets with valuation gains include Australia, Singapore, UK and USA Spain EUR 37.5 40.0 -6% United Kingdom GBP 283.7 274.3 3% USA USD Vietnam VND 1,005.9 3,826,695.2 958.2 5% 4,013,714.4 -5% Notes: 1. The fair value gain (net of tax and minority interest) is S$166.7 million 2. Value of properties includes investment properties, investment properties under development, assets held for sale and land and buildings (included under property, plant and equipment); values are stated in millions, with the exception of Vietnam, which is stated in billions 3. Includes the capital expenditure in FY 2022 CapitaLand Ascott Trust Investor Presentation 27

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