Report of the Trustee of CapitaLand Ascott Real Estate Investment Trust DBS Trustee Limited (the “REIT Trustee”) is under a duty to take into custody and hold the assets of CapitaLand Ascott Real Estate Investment Trust (“CapitaLand Ascott REIT”) held by it or through its subsidiaries (collectively, the “CapitaLand Ascott REIT Group”) in trust for the holders of units in CapitaLand Ascott REIT. In accordance with the Securities and Futures Act 2001, its subsidiary legislation and the Code on Collective Investment Schemes, the REIT Trustee shall monitor the activities of CapitaLand Ascott Trust Management Limited (the “REIT Manager”) for compliance with the limitations imposed on the investment and borrowing powers as set out in the trust deed dated 19 January 2006 (as amended) (the “CapitaLand Ascott REIT Trust Deed”) between the REIT Manager and the REIT Trustee in each annual accounting period and report thereon to Stapled Securityholders in an annual report. To the best knowledge of the REIT Trustee, the REIT Manager has, in all material respects, managed the CapitaLand Ascott REIT Group during the period covered by these financial statements, set out on pages 113 to 274 in accordance with the limitations imposed on the investment and borrowing powers set out in the CapitaLand Ascott REIT Trust Deed. For and on behalf of the REIT Trustee, DBS Trustee Limited Chan Kim Lim Director Singapore 7 March 2025 100 CapitaLand Ascott Trust
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