Report of the Trustee-Manager of CapitaLand Ascott Business Trust There were no changes in the abovementioned interests of CapitaLand Ascott BT between 31 December 2024 and 21 January 2025. Mr Goh Soon Keat Kevin resigned with effect from 1 January 2025 and Mr Yeo Chin Fu Ervin was appointed in place of him with effect from 1 January 2025. As at 21 January 2025, the interests of Mr Yeo Chin Fu Ervin (including those held by his spouse or 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 Direct Direct Deemed Deemed At date of appointment At 21 January 2025 At date of appointment At 21 January 2025 Name of director in which interests are held Mr Yeo Chin Fu Ervin 10,593 10,593 – – Notes: 1 This refers to the number of Stapled Securities which are the subject of contingent awards granted or finalised but not released under the REIT Manager’s Performance Stapled Security Plan (“PSSP”) and awards granted but not released under the REIT Manager’s Restricted Stapled Security Plan (“RSSP”). 2 The final number of Stapled Securities to be released will depend on the achievement of pre-determined targets at the end of the respective performance periods of the PSSP. The final number of Stapled Securities that will be released could range from 0% to 200% of the baseline award under the PSSP. The Nominating and Remuneration Committee of the Managers has the discretion to adjust the number of Stapled Securities released taking into consideration other relevant quantitative and qualitative factors. The Stapled Securities released under PSSP, if any, will be delivered in a combination of stapled securities and cash. 3 Being the finalised and unvested Stapled Securities under the RSSP. 4 On the final vesting, an additional number of Stapled Securities of a total value equal to the value of the accumulated distributions which are declared during each of the vesting periods and deemed foregone due to the vesting mechanism of the RSSP, will also be released. 5 Time-based Stapled Securities which will vest equally over 2 years, with 50% to be released in March 2025 and the remaining in March 2026. Except as disclosed in this report, no director who held office at the end of the financial year had interests in units, options, warrants or debentures of CapitaLand Ascott BT, either at the beginning (or date of appointment, if later) or at the end of the financial year. ARRANGEMENTS TO ENABLE DIRECTORS TO ACQUIRE UNITS AND DEBENTURES Neither at the end of nor at any time during the financial year was the BT Trustee-Manager a party to any arrangement whose object was to enable any or all directors of the BT Trustee-Manager to acquire benefits by means of the acquisition of units, or debentures, of CapitaLand Ascott BT. 104 CapitaLand Ascott Trust
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