46 CapitaLand Ascott Trust Operations Review 1 Valuation relates to the 427 units owned by CLAS. 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, at the heart of Ayala Center Makati in the CBD. Surrounded by premier retail destinations, office towers, multinational corporations, financial institutions and embassies, the area stands as one of the country's most dynamic commercial hubs. Ongoing redevelopment and enhancements within Ayala Center, including improvements to Glorietta, are set to further elevate the area's vibrancy and connectivity. Somerset Millennium Makati is a freehold property located in the heart of Makati City's shopping and business district. The property comprises 76 units, of which 65 are owned by CLAS. It is within walking distance to Legazpi Park, Ayala Museum and Greenbelt, a 12-hectare lifestyle destination that blends lush open spaces with world-class shopping, dining and entertainment. In FY 2025, RevPAU of the properties increased 2% YoY in PHP terms due to higher ADR. Gross Rental Income (PHP’000) Revenue per Available Unit (PHP) FY 2025 FY 2024 FY 2025 FY 2024 Properties under Management Contract Ascott Makati 758,269 743,756 5,416 5,299 Somerset Millennium Makati 115,618 133,495 2,889 2,939 The Philippines 2 Properties 438 Units S$21.2M Total Revenue (FY 2025) S$7.5M Total Gross Profit (FY 2025) S$91.9M1 Valuation (as at 31 Dec 2025) ▲ Featured property: Ascott Makati, The Philippines
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