Operations Review CLAS owns two serviced residences in Makati, The Philippines. Both properties are under management contracts, and they have an average length of stay of over one month. Ascott Makati is a 362-unit leasehold property located within Glorietta Mall, a retail and commercial complex situated in the Ayala Center, which is part of the bustling Makati CBD. This area is known for its high-end shopping malls, office buildings, luxury dining options, multinational companies, international banks and embassies. The Philippines GROSS RENTAL INCOME (PHP’000) REVENUE PER AVAILABLE UNIT (PHP) FY 2024 FY 2023 FY 2024 FY 2023 Ascott Makati 743,756 718,249 5,299 5,116 Somerset Millennium Makati 133,495 141,424 2,939 3,136 Properties 2 Total Revenue (FY 2024) S$22.0M Total Gross Profit (FY 2024) S$7.7M Units 480 Valuation (as at 31 December 2024) S$102.1M¹ Somerset Millennium Makati is a 118-unit freehold property located in the shopping and business district of Makati City. It is within walking distance to Legazpi Park, Ayala Museum and Greenbelt, which is a 12-hectare space featuring a sprawling garden amidst world-class shopping, dining and entertainment options. In FY 2024, RevPAU of the properties increased 2% YoY in PHP terms due to higher ADR. Featured property: Ascott Makati, The Philippines 1 Valuation relates to the 427 units owned by CLAS. 46 CapitaLand Ascott Trust
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