CapitaLand Ascott Trust 182 Notes to the Financial Statements For the financial year ended 31 December 2025 9 Non-Controlling Interests The following subsidiaries have material non-controlling interests (“NCI”) and operate investment properties. Name Principal place of business/Country of incorporation Ownership interests held by NCI 2025 % 2024 % Held by CapitaLand Ascott REIT PT Ciputra Liang Court Indonesia 42.6 42.6 Hanoi Tower Center Company Limited Vietnam 24.0 24.0 Mekong-Hacota Joint Venture Company Limited Vietnam 43.0 42.2 Saigon Office and Serviced Apartment Company Limited Vietnam 33.0 33.0 Somerset Hoa Binh Joint Venture Company Limited Vietnam 10.0 10.0 The CapitaLand Ascott REIT Group’s interests in its subsidiaries in Vietnam are held under the terms of joint venture arrangements with unrelated third parties. Under the terms of these joint venture arrangements, the net profits of each of the subsidiaries in Vietnam, upon fulfilment of certain statutory financial obligations and the payment of other amounts due, are to be distributed to the shareholders of these subsidiaries in certain proportions during different periods in accordance with the terms of the relevant joint venture arrangements and/ or the applicable investment license under which these subsidiaries operate. Under the investment license of Hanoi Tower Center Company Limited, Burton Engineering Pte Ltd is entitled to 76%, 70% and 50% of the distributed profits for each year during the first 25 years, the following ten years and the subsequent ten years, respectively, from the commencement of operations of Hanoi Tower Center Company Limited. From 9 February 2018, profits attributable to NCI of Hanoi Tower Center Company Limited increased from 24% to 30%. Under the investment license of Saigon Office and Serviced Apartment Company Limited, East Australia Trading Company (S) Pte Ltd is entitled to 67%, 60% and 40% of the distributed profits for each year prior to the repayment of its capital bank loan, after the repayment of its capital bank loan and after 31 years from the commencement of operations of Saigon Office and Serviced Apartment Company Limited respectively. From 28 February 2022, profits attributable to NCI of Saigon Office and Serviced Apartment Company Limited increased from 33% to 40%. From 5 October 2023, profits attributable to NCI of Saigon Office and Serviced Apartment Company Limited increased from 40% to 60%.
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