The directors of CapitaLand Ascott Business Trust Management Pte. Ltd., the trustee-manager of CapitaLand Ascott Business Trust (“CapitaLand Ascott BT”) (the “BT Trustee-Manager”), are pleased to present their report to the unitholders of CapitaLand Ascott BT for the financial year ended 31 December 2023, together with the audited financial statements of CapitaLand Ascott BT and its subsidiaries (the “CapitaLand Ascott BT Group”) for the financial year ended 31 December 2023. DIRECTORS The directors of the BT Trustee-Manager in office at the date of this report are: Mr Tan Beng Hai, Bob (Chairman) Ms Teo Joo Ling, Serena (Chief Executive Officer) Mr Sim Juat Quee Michael Gabriel Mr Chia Kim Huat Ms Deborah Lee Siew Yin Mr Max Loh Khum Whai (Appointed on 23 November 2023) Mr Lui Chong Chee (Appointed on 1 February 2024) Mr Goh Soon Keat Kevin Ms Beh Siew Kim DIRECTORS’ INTERESTS IN UNITS OR DEBENTURES OF CAPITALAND ASCOTT BT According to the register kept by the BT Trustee-Manager for the purpose of Sections 13 and 76 of the Business Trusts Act 2004 (the “BTA”), particulars of interests of directors who held office at the end of the financial year (including those held by their spouses and infant children) in units of CapitaLand Ascott BT are as follows: Direct and deemed holdings registered in the name of the director, spouse or infant children Name of director in which interests are held Direct At beginning of the year / date of appointment Deemed At beginning of the year / date of appointment Direct At end of the year Deemed At end of the year Mr Tan Beng Hai, Bob 136,042 – 167,510 – Ms Teo Joo Ling, Serena – – 57,064 – Mr Sim Juat Quee Michael Gabriel 90,649 – 113,920 – Mr Chia Kim Huat 115,322 – 136,988 – Ms Deborah Lee Siew Yin 21,767 – 39,218 – Mr Ong Su Kiat Melvyn* – – – – Mr Max Loh Khum Whai 120,000 – 120,000 – Mr Goh Soon Keat Kevin 171,276 – 234,319 – Ms Beh Siew Kim * Mr Ong Su Kiat Melvyn resigned with effect from 1 January 2024. 1,358,069 – 1,872,934 – Contingent award of Performance Stapled Security1,2 to be delivered after 2022 Ms Beh Siew Kim (134,448 PSSP) * During the year, 268,896 stapled securities were released, of which 67,224 stapled securities were settled in cash. 0 to 268,896 – 0* – Contingent award of Performance Stapled Security1 to be delivered after 2023 Ms Beh Siew Kim (185,391 PSSP) 0 to 370,7822 – 0 to 370,7822 – REPORT OF THE TRUSTEE-MANAGER OF CAPITALAND ASCOTT BUSINESS TRUST 146 CAPITALAND ASCOTT TRUST
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