PORTFOLIO HIGHLIGHTS DIVESTMENT INVESTMENT ASSET ENHANCEMENT No. Property Location Sale price Premium over book value Exit yield1 Divestment date 1 Courtyard by Marriott Sydney-North Ryde Sydney, Australia AUD109.0M (S$95.6M) 5% 4.4% Jan 2024 2 Novotel Sydney Parramatta Sydney, Australia Sep 2024 3 Hotel WBF Honmachi Osaka, Japan JPY10.7B (S$99.8M) 15% Not meaningful Mar 2024 4 Hotel WBF Kitasemba East Osaka, Japan 5 Hotel WBF Kitasemba West Osaka, Japan 6 Citadines Mount Sophia Property Singapore Singapore S$148.0M 19% 3.2% Mar 2024 7 Citadines Karasuma-Gojo Kyoto Kyoto, Japan JPY6.2B (S$53.1M) 40% 0.3% Oct 2024 8 Infini Garden Fukuoka, Japan JPY12.7B (S$108.0M) 55% 3.4% Oct 2024 9 Somerset Olympic Tower Property Tianjin Tianjin, China More details to be provided upon completion. Target completion in 2Q 2025 1 The exit yield of the Australia properties was computed based on FY 2022 earnings before interest, taxes, depreciation and amortisation (EBITDA) as the divestments were entered into in 2023. The exit yields of the rest of the properties were computed based on FY 2023 EBITDA as the divestments were entered into in 2024. The exit yield of the three WBF properties in Japan is not meaningful as the properties were largely closed in 2022. CLAS proactively pursues investment, divestment and asset enhancement opportunities to enhance the quality and performance of our portfolio, and sustainability of returns to Stapled Securityholders. Divesting properties which have reached the optimal stage of their life cycles allows CLAS to redeploy proceeds into more optimal uses. These include investing in higheryielding properties in prime locations with strong demand drivers, and funding AEIs to enhance the performance and valuation of existing properties. Proceeds from divestments may also be used to pare down debts with higher interest rates. DIVESTMENT In FY 2024, CLAS completed over S$500 million in divestments at premium to book value, unlocking about S$74 million in net gains. In October 2024, CLAS also entered into the divestment of Somerset Olympic Tower Property Tianjin, which is expected to be completed in 2Q 2025. Accretive acquisition of S$350M in lodging properties Divested >S$500M in properties at premium to book Completed 6 AEIs, enhancing properties’ yield and valuation Ongoing development of Somerset Liang Court in Singapore Active portfolio reconstitution and asset enhancement 2024 Highlights 6 CapitaLand Ascott Trust
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