Annual Report 2025 209 21 Stapled Securities in Issue and Perpetual Securities (a) Stapled Securities in issue CapitaLand Ascott REIT Units CapitaLand Ascott BT Units Stapled Securities 2025 ’000 2024 ’000 2025 ’000 2024 ’000 2025 ’000 2024 ’000 At 1 January 3,796,166 3,763,304 3,796,166 3,763,304 3,796,166 3,763,304 Issue of new Stapled Securities: - Management fees paid in Stapled Securities 30,777 27,270 30,777 27,270 30,777 27,270 - Acquisition fees paid in Stapled Securities 3,008 5,592 3,008 5,592 3,008 5,592 - Divestment fees paid in Stapled Securities 1,180 – 1,180 – 1,180 – At 31 December 3,831,131 3,796,166 3,831,131 3,796,166 3,831,131 3,796,166 During the financial year ended 31 December 2025, the REIT Manager and the BT Trustee-Manager issued Stapled Securities as follows: (a) 27,761,438 Stapled Securities at issue prices ranging from $0.8682 to $0.9219 per Stapled Security, amounting to $24,375,000, as payment of the REIT Manager’s base management fees for the period from 1 October 2024 to 30 September 2025 and the REIT Manager’s base performance fees for the period from 1 January 2024 to 31 December 2024. (b) 3,015,496 Stapled Securities at issue prices ranging from $0.8682 to $0.9219 per Stapled Security, amounting to $2,657,000, as payment of the BT Trustee-Manager’s base management fees and base performance fees for the period from 1 October 2024 to 30 September 2025 and additional outperformance fee for the period from 1 January 2024 to 31 December 2024. (c) 3,007,741 Stapled Securities at an issue price of $0.8708 per Stapled Security to the REIT Manager as payment of the acquisition fee in relation to the acquisition of lyf Funan Singapore. (d) 1,179,514 Stapled Securities at an issue price of $0.9275 per Stapled Security to the REIT Manager as payment of the divestment fee in relation to the divestment of Citadines Central Shinjuku Tokyo. During the financial year ended 31 December 2024, the REIT Manager and the BT Trustee-Manager issued Stapled Securities as follows: (a) 24,268,477 Stapled Securities at issue prices ranging from $0.8842 to $0.9766 per Stapled Security, amounting to $23,013,000, as payment of the REIT Manager’s base management fees for the period from 1 October 2023 to 30 September 2024 and the REIT Manager’s performance fees (including base performance fee and additional outperformance fee) for the period from 1 January 2023 to 31 December 2023. (b) 3,002,018 Stapled Securities at issue prices ranging from $0.8842 to $0.9766 per Stapled Security, amounting to $2,803,000, as payment of the BT Trustee-Manager’s base management fees and base performance fees for the period from 1 October 2023 to 30 September 2024 and additional outperformance fee for the period from 1 January 2023 to 31 December 2023. (c) 4,491,814 Stapled Securities at an issue price of $0.9298 per Stapled Security to the REIT Manager as payment of the acquisition fee in relation to the acquisition of Ascott Kuningan Jakarta and The Cavendish London. (d) 1,100,215 Stapled Securities at an issue price of $0.9298 per Stapled Security to the BT TrusteeManager as payment of the acquisition fee in relation to the acquisition of Temple Bar Hotel Dublin by The Unlimited Collection.
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