Disclosure of Interest of Directors/Management

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 912904719 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 24.04000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott REIT and CapitaLand Ascott BT. Each Stapled Security comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CLASML and the trustee-manager of CapitaLand Ascott BT is CLASBTMPL.

Any reference to the percentage of interests in CLAS is calculated based on the total number of Stapled Securities, being 3,796,166,466 Stapled Securities as at 7 November 2024.

On 19 December 2024, TAL sold an aggregate of 185,253,000 Stapled Securities, representing approximately 4.88% of CLAS, at a price of S$0.875 per Stapled Security, to an unrelated third party.

Immediately before the sale, TAL has a direct interest in approximately 4.99% of CLAS and a deemed interest of approximately 23.59% in CLAS through its wholly owned subsidiary SCPL. Following the sale, TAL's resultant direct interest in CLAS is approximately 0.11% and deemed interest in CLAS is approximately 23.59%.

Immediately before the sale by TAL, CLI has a deemed interest of approximately 28.92% in CLAS which arises through the interests of:

(i) SCPL of approximately 23.59%;
(ii) TAL of approximately 4.99%;
(iii) CLASML of approximately 0.22%; and
(iv) CLASBTMPL and CPPL of approximately 0.11%.

CLASML, TAL, CLASBTMPL and CPPL are wholly owned subsidiaries of CLI.

Following the sale by TAL, CLI's deemed interest in CLAS is approximately 24.04% which arises through the interests of:

(i) SCPL of approximately 23.59%;
(ii) TAL of approximately 0.11%;
(iii) CLASML of approximately 0.22%; and
(iv) CLASBTMPL and CPPL of approximately 0.11%.

The percentages are rounded down to the nearest 0.01%. Any discrepancies in the figures between the listed percentages and the totals thereof are due to rounding. Accordingly, the listed percentages may not be an arithmetic aggregation of the figures through which they arise.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 4257989 (Direct Interest); 895620219 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.11000000 (Direct Interest); 23.59000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS ("Stapled Security") comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CLASML and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd. ("CLASBTMPL").

Any reference to the percentage of interests in CLAS is calculated based on the total number of Stapled Securities, being 3,796,166,466 Stapled Securities as at 7 November 2024.

On 19 December 2024, TAL sold an aggregate of 185,253,000 Stapled Securities, representing approximately 4.88% of CLAS, at a price of S$0.875 per Stapled Security, to an unrelated third party.

Immediately before the sale, TAL has a direct interest in approximately 4.99% of CLAS and a deemed interest of approximately 23.59% in CLAS through its wholly owned subsidiary Somerset Capital Pte Ltd ("SCPL"). Following the sale, TAL's resultant direct interest in CLAS is approximately 0.11% and deemed interest in CLAS is approximately 23.59%.

Immediately before the sale by TAL, CapitaLand Investment Limited ("CLI") has a deemed interest of approximately 28.92% in CLAS which arises through the interests of:

(i) SCPL of approximately 23.59%;
(ii) TAL of approximately 4.99%;
(iii) CLASML of approximately 0.22%; and
(iv) CLASBTMPL and Carmel Plus Pte. Ltd. ("CPPL") of approximately 0.11%.

CLASML, TAL, CLASBTMPL and CPPL are wholly owned subsidiaries of CLI.

Following the sale by TAL, CLI's deemed interest in CLAS is approximately 24.04% which arises through the interests of:

(i) SCPL of approximately 23.59%;
(ii) TAL of approximately 0.11%;
(iii) CLASML of approximately 0.22%; and
(iv) CLASBTMPL and CPPL of approximately 0.11%.

The percentages are rounded down to the nearest 0.01%. Any discrepancies in the figures between the listed percentages and the totals thereof are due to rounding. Accordingly, the listed percentages may not be an arithmetic aggregation of the figures through which they arise.

Remarks
Issue of an aggregate of 4,659,019 new Units to Somerset Capital Pte Ltd ("Somerset"), as announced by the Listed Issuer on 7 November 2024.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 1291337446 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 34.01000000 (Deemed Interest)

Temasek does not have any direct interest in Units.

Temasek is filing this notification form to report a change in the percentage level of its deemed interest in Units from 33.93% to 34.01% due to the issue of an aggregate of 4,659,019 new Units to Somerset, as announced by the Listed Issuer on 7 November 2024.

Temasek's deemed interest in Units arises through CLA Real Estate Holdings Pte. Ltd. ("CLA Real Estate"), DBS Group Holdings Ltd ("DBSH") and Fullerton Fund Management Company Ltd. ("Fullerton").

(A) Temasek's deemed interest via CLA Real Estate 32.9727%
(i) CapitaLand Ascott Trust Management Limited ("CLASML") holds 0.2256% of Units.
(ii) Somerset holds 23.5927% of Units.
(iii) The Ascott Limited ("TAL") holds 4.9921% of Units.
(iv) Somerset is a subsidiary of TAL.
(v) CLASML and TAL are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI through two other subsidiaries has a deemed interest in a further 0.1174% of Units.
(vii) CLI is a subsidiary of CapitaLand Group Pte. Ltd. ("CapitaLand").
(viii) CapitaLand holds 4.0446% of Units.
(ix) CapitaLand is a subsidiary of CLA Real Estate.
(x) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(xi) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(xii) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xiii) Mawson is a subsidiary of Bartley Investments Pte. Ltd. ("Bartley").
(xiv) Bartley is a subsidiary of Tembusu Capital Pte. Ltd. ("Tembusu").

(B) Temasek's deemed interest via DBSH 0.8224%
(i) DBS Bank Ltd. ("DBS Bank") has an interest in 0.8224% of Units.
(ii) DBS Bank is a subsidiary of DBSH.
(iii) Temasek has a more than 20% interest in DBSH.

(C) Temasek's deemed interest through Fullerton 0.2217%
(i) Fullerton has an interest in 0.2217% of Shares as investment manager for various funds, including funds in which Temasek through a subsidiary has an interest.
(ii) Fullerton is an indirect subsidiary of Temasek.

Total deemed interest of Temasek 34.01%


CLA Real Estate, DBSH and Fullerton are independently managed Temasek portfolio companies. Temasek is not involved in their business or operating decisions, including those regarding their positions in Units.

Based on the information available to Temasek as at 7 November 2024, the issue of new Units to Somerset on 7 November 2024 ("7 Nov Issuance of new Units") did not cause any change in the percentage level of Temasek's deemed interest in Units.

On 8 November 2024, DBSH informed Temasek that DBS Bank had entered into a series of transactions in Units on 6 November 2024 ("6 Nov Transactions"). Taking into account the 6 Nov Transactions, Temasek's deemed interest in Units was 33.93% as at 6 November 2024.

Accordingly, taking into account the 6 Nov Transactions, the 7 Nov Issuance of new Units had caused a change in Temasek's deemed interest in Units to increase from 33.93% to 34.01%, and Temasek is required to file a substantial shareholding disclosure as a result of the 7 Nov Issuance of new Units.

The Listed Issuer is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each Unit of the Listed Issuer comprises 1 CapitaLand Ascott REIT unit and 1 CapitaLand Ascott BT unit. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd.

The percentage of interest immediately before the change is calculated on the basis of 3,791,507,447 Units.

The percentage of interest immediately after the change is calculated on the basis of 3,796,166,466 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.0001%, as the case may be. Any discrepancies in aggregated figures are due to rounding.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 1852186 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.04000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd. ("CLASBTMPL").

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities. Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 (being the last change in the total number of stapled securities in CLAS), and the percentage of total number of ordinary voting stapled securities held "immediately after the transaction" is calculated based on 3,796,166,466 stapled securities as at 7 November 2024 following the issuance of stapled securities.

The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 1100215 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.02000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLASBTMPL is entitled to receive 751,971 stapled securities in CLAS at an issue price of S$0.9583 per stapled security as partial payment of the management fee (base fee and performance fee) for the period from 1 July 2024 to 30 September 2024 (both dates inclusive). CLASBTMPL has sold the 751,971 stapled securities which it is entitled to receive, to Somerset Capital Pte Ltd ("SCPL"), a related corporation of CLASBTMPL, and in connection with the sale, CLASBTMPL has directed that such stapled securities be issued directly to SCPL instead of CLASBTMPL.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,796,166,466 stapled securities as at 7 November 2024 following the issuance of stapled securities.

The percentages are rounded down to the nearest 0.01%.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 12473860 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.32000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited ("CLASML") and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities. Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 (being the last change in the total number of stapled securities in CLAS), and the percentage of total number of ordinary voting stapled securities held "immediately after the transaction" is calculated based on 3,796,166,466 stapled securities as at 7 November 2024 following the issuance of stapled securities.

The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 8566812 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.22000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLASML is entitled to receive 3,907,048 stapled securities in CLAS at an issue price of S$0.9583 per stapled security as partial payment of the management fee (base fee) for the period from 1 July 2024 to 30 September 2024 (both dates inclusive). CLASML has sold the 3,907,048 stapled securities which it is entitled to receive, to Somerset Capital Pte Ltd ("SCPL"), a related corporation of CLASML, and in connection with the sale, CLASML has directed that such stapled securities be issued directly to SCPL instead of CLASML.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,796,166,466 stapled securities as at 7 November 2024 following the issuance of stapled securities.

The percentages are rounded down to the nearest 0.01%.

Remarks
Acquisition of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 890961200 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 23.49000000 (Direct Interest); 0.00000000 (Deemed Interest)

SCPL is a wholly owned subsidiary of The Ascott Limited ("TAL").

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited ("CLASML") and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd. ("CLASBTMPL").

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities. Any reference to units above relates to the stapled securities in CLAS.

SCPL has purchased a total of 289,697,276 stapled securities in CLAS at an issue price of S$0.905 per stapled security from CLASML and CLASBTMPL, both are related corporations of SCPL. CLASML and CLASBTMPL are wholly owned subsidiaries of CapitaLand Investment Limited.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 (being the last change in the total number of stapled securities in CLAS).

The percentages are rounded down to the nearest 0.01%.

Remarks
Acquisition of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 189510989 (Direct Interest); 890961200 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 4.99000000 (Direct Interest); 23.49000000 (Deemed Interest)

TAL's deemed interest in the 890,961,200 stapled securities in CLAS arises through its wholly owned subsidiary, SCPL.

SCPL is a wholly owned subsidiary of TAL.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 (being the last change in the total number of stapled securities in CLAS).

The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 1100215 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.02000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities. Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 (being the last change in the total number of stapled securities in CLAS).

The percentages are rounded down to the nearest 0.01%.

CLASBTMPL has sold 9,697,276 stapled securities in CLAS to Somerset Capital Pte Ltd, a related corporation of CLASBTMPL.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 8566812 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.22000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities. Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 (being the last change in the total number of stapled securities in CLAS).

The percentages are rounded down to the nearest 0.01%.

CLASML has sold 280,000,000 stapled securities in CLAS to Somerset Capital Pte Ltd, a related corporation of CLASML.

Remarks
Acquisition of Securities via market transaction

Amount of consideration paid or received by Director/CEO (excluding brokerage and stamp duties): S$250,000

Immediately after the transaction

Principal amount of debentures held: 250,000
No. of shares/units underlying convertible debentures: 0

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Businesss Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

On 7 August 2024, DBS Trustee Limited (in its capacity as trustee of CapitaLand Ascott REIT) issued S$150,000,000 in principal amount of 4.60 per cent. Subordinated Perpetual Securities ("the Perpetual Securities") under its $2,000,000,000 Multicurrency Debt Issuance Programme. The Perpetual Securities were listed and quoted on Singapore Exchange Securities Trading Limited on 8 August 2024.

Remarks
Disposal of Securities via market transaction

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): S$1,350,214.26 received by DBS Bank.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 1287807193 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 33.96000000 (Deemed Interest)

Temasek does not have any direct interest in Units.

Temasek is filing this notification form to report a change in the percentage level of its deemed interest in Units from 34.00% to 33.96% due to the disposal of 1,491,900 Units by DBS Bank via market transaction.

Temasek's deemed interest in Units arises through CLA Real Estate, DBSH and Fullerton.

(A) Temasek's deemed interest via CLA Real Estate : 32.8903%
(i) CapitaLand Ascott Trust Management Limited ("CLASML") holds 7.6108% of Units.
(ii) Somerset Capital Pte Ltd ("Somerset") holds 15.8581% of Units.
(iii) The Ascott Limited ("TAL") holds 4.9983% of Units.
(iv) Somerset is a subsidiary of TAL.
(v) CLASML and TAL are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI through two other subsidiaries has a deemed interest in a further 0.3733% of Units.
(vii) CLI is a subsidiary of CapitaLand Group Pte. Ltd. ("CapitaLand").
(viii) CapitaLand holds 4.0496% of Units.
(ix) CapitaLand is a subsidiary of CLA Real Estate.
(x) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(xi) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(xii) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xiii) Mawson is a subsidiary of Bartley Investments Pte. Ltd. ("Bartley").
(xiv) Bartley is a subsidiary of Tembusu Capital Pte. Ltd. ("Tembusu").
(xv) Tembusu is a subsidiary of Temasek.

(B) Temasek's deemed interest via DBSH : 0.7747%
(i) DBS Bank has an interest in 0.7747% of Units.
(ii) DBS Bank is a subsidiary of DBSH.
(iii) Temasek has a more than 20% interest in DBSH.

(C) Temasek's deemed interest through Fullerton : 0.3004%
(i) Fullerton has an interest in 0.3004% of Shares as investment manager for various funds,
including funds in which Temasek through a subsidiary has an interest.
(ii) Fullerton is an indirect subsidiary of Temasek.

Total deemed interest of Temasek : 33.96%


CLA Real Estate, DBSH and Fullerton are independently managed Temasek portfolio companies. Temasek is not involved in their business or operating decisions, including those regarding their positions in Units.

The Listed Issuer is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each Unit of the Listed Issuer comprises 1 CapitaLand Ascott REIT unit and 1 CapitaLand Ascott BT unit. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd.

The percentage of interest immediately before and after the change is calculated on the basis of 3,791,507,447 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.0001%, as the case may be. Any discrepancies in aggregated figures are due to rounding.

Remarks
Issue of an aggregate of 4,976,174 new Units to Somerset Capital Pte Ltd ("Somerset"), as announced by the Listed Issuer on 7 August 2024.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 1291573893 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 34.06000000 (Deemed Interest)

Temasek does not have any direct interest in Units.

Temasek is filing this notification form to report a change in the percentage level of its deemed interest in Units from 33.97% to 34.06% due to the issue of an aggregate of 4,976,174 new Units to Somerset, as announced by the Listed Issuer on 7 August 2024.

Temasek's deemed interest in Units arises through CLA Real Estate, DBSH and Fullerton.

(A) Temasek's deemed interest via CLA Real Estate 32.8903%
(i) CapitaLand Ascott Trust Management Limited ("CLASML") holds 7.6108% of Units.
(ii) Somerset Capital Pte Ltd ("Somerset") holds 15.8581% of Units.
(iii) The Ascott Limited ("TAL") holds 4.9983% of Units.
(iv) Somerset is a subsidiary of TAL.
(v) CLASML and TAL are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI through two other subsidiaries has a deemed interest in a further 0.3733% of Units.
(vii) CLI is a subsidiary of CapitaLand Group Pte. Ltd. ("CapitaLand").
(viii) CapitaLand holds 4.0496% of Units.
(ix) CapitaLand is a subsidiary of CLA Real Estate.
(x) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(xi) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(xii) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xiii) Mawson is a subsidiary of Bartley Investments Pte. Ltd. ("Bartley").
(xiv) Bartley is a subsidiary of Tembusu Capital Pte. Ltd. ("Tembusu").
(xv) Tembusu is a subsidiary of Temasek.

(B) Temasek's deemed interest via DBSH 0.8768%
(i) DBS Bank has an interest in 0.8768% of Units.
(ii) DBS Bank is a subsidiary of DBSH.
(iii) Temasek has a more than 20% interest in DBSH.

(C) Temasek's deemed interest through Fullerton 0.2976%
(i) Fullerton has an interest in 0.2976% of Shares as investment manager for various funds, including funds in which Temasek through a subsidiary has an interest.
(ii) Fullerton is an indirect subsidiary of Temasek.

Total deemed interest of Temasek 34.06%


CLA Real Estate, DBSH and Fullerton are independently managed Temasek portfolio companies. Temasek is not involved in their business or operating decisions, including those regarding their positions in Units.

The Listed Issuer is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each Unit of the Listed Issuer comprises 1 CapitaLand Ascott REIT unit and 1 CapitaLand Ascott BT unit. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd.

The percentage of interest immediately before the change is calculated on the basis of 3,786,531,273 Units.

The percentage of interest immediately after the change is calculated on the basis of 3,791,507,447 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.0001%, as the case may be. Any discrepancies in aggregated figures are due to rounding.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 189510989 (Direct Interest); 601263924 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 4.99000000 (Direct Interest); 15.85000000 (Deemed Interest)

TAL is deemed to have an interest in the stapled securityholding of its wholly owned subsidiary, Somerset Capital Pte Ltd ("SCPL") pursuant to Section 4 of the Securities and Futures Act 2001.

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited ("CLASML") and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd. ("CLASBTMPL").

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

SCPL has purchased a total of 4,976,174 stapled securities in CLAS at an issue price of S$0.8842 per stapled security from CLASML and CLASBTMPL, both are related corporations of SCPL. In connection with the purchase, each of CLASML and CLASBTMPL has directed that such stapled securities that it is entitled to receive as payment of management fees, be issued directly to SCPL.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024, and the percentage of total number of ordinary voting stapled securities held "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024.

The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via market transaction

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): S$337,043.00 received by DBS Bank.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 1287295169 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 33.99000000 (Deemed Interest)

Temasek does not have any direct interest in Units.

Temasek is filing this notification form to report a change in the percentage level of its deemed interest in Units from 34.00% to 33.99% due to the disposal of 378,700 Units by DBS Bank via market transaction.

Temasek's deemed interest in Units arises through CLA Real Estate, DBSH and Fullerton.

(A) Temasek's deemed interest via CLA Real Estate : 32.8021%
(i) CapitaLand Ascott Trust Management Limited ("CLASML") holds 7.6208% of Units.
(ii) Somerset Capital Pte Ltd ("Somerset") holds 15.7475% of Units.
(iii) The Ascott Limited ("TAL") holds 5.0048% of Units.
(iv) Somerset is a subsidiary of TAL.
(v) CLASML and TAL are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI through two other subsidiaries has a deemed interest in a further 0.3738% of Units.
(vii) CLI is a subsidiary of CapitaLand Group Pte. Ltd. ("CapitaLand").
(viii) CapitaLand holds 4.0549% of Units.
(ix) CapitaLand is a subsidiary of CLA Real Estate.
(x) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(xi) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(xii) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xiii) Mawson is a subsidiary of Bartley Investments Pte. Ltd. ("Bartley").
(xiv) Bartley is a subsidiary of Tembusu Capital Pte. Ltd. ("Tembusu").
(xv) Tembusu is a subsidiary of Temasek.

(B) Temasek's deemed interest via DBSH : 0.8964%
(i) DBS Bank has an interest in 0.8964% of Units.
(ii) DBS Bank is a subsidiary of DBSH.
(iii) Temasek has a more than 20% interest in DBSH.

(C) Temasek's deemed interest through Fullerton : 0.2980%
(i) Fullerton has an interest in 0.2980% of Shares as investment manager for various funds,
including funds in which Temasek through a subsidiary has an interest.
(ii) Fullerton is an indirect subsidiary of Temasek.

Total deemed interest of Temasek : 33.99%


CLA Real Estate, DBSH and Fullerton are independently managed Temasek portfolio companies. Temasek is not involved in their business or operating decisions, including those regarding their positions in Units.

The Listed Issuer is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each Unit of the Listed Issuer comprises 1 CapitaLand Ascott REIT unit and 1 CapitaLand Ascott BT unit. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd.

The percentage of interest immediately before and after the change is calculated on the basis of 3,786,531,273 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.0001%, as the case may be. Any discrepancies in aggregated figures are due to rounding.

Remarks
Acquisition of Securities via market transaction

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): S$1,089,996.00 paid by DBS Bank.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 1287666169 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 34.00000000 (Deemed Interest)

Temasek does not have any direct interest in Units.

Temasek is filing this notification form to report a change in the percentage level of its deemed interest in Units from 33.97% to 34.00% due to the acquisition of 1,200,000 Units by DBS Bank via market transaction.

Temasek's deemed interest in Units arises through CLA Real Estate, DBSH and Fullerton.

(A) Temasek's deemed interest via CLA Real Estate : 32.8021%
(i) CapitaLand Ascott Trust Management Limited ("CLASML") holds 7.6208% of Units.
(ii) Somerset Capital Pte Ltd ("Somerset") holds 15.7475% of Units.
(iii) The Ascott Limited ("TAL") holds 5.0048% of Units.
(iv) Somerset is a subsidiary of TAL.
(v) CLASML and TAL are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI through two other subsidiaries has a deemed interest in a further 0.3738% of Units.
(vii) CLI is a subsidiary of CapitaLand Group Pte. Ltd. ("CapitaLand").
(viii) CapitaLand holds 4.0549% of Units.
(ix) CapitaLand is a subsidiary of CLA Real Estate.
(x) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(xi) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(xii) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xiii) Mawson is a subsidiary of Bartley Investments Pte. Ltd. ("Bartley").
(xiv) Bartley is a subsidiary of Tembusu Capital Pte. Ltd. ("Tembusu").
(xv) Tembusu is a subsidiary of Temasek.

(B) Temasek's deemed interest via DBSH : 0.9066%
(i) DBS Bank has an interest in 0.9066% of Units.
(ii) DBS Bank is a subsidiary of DBSH.
(iii) Temasek has a more than 20% interest in DBSH.

(C) Temasek's deemed interest through Fullerton : 0.2976%
(i) Fullerton has an interest in 0.2976% of Shares as investment manager for various funds, including funds in which Temasek through a subsidiary has an interest.
(ii) Fullerton is an indirect subsidiary of Temasek.

Total deemed interest of Temasek : 34.00%


CLA Real Estate, DBSH and Fullerton are independently managed Temasek portfolio companies. Temasek is not involved in their business or operating decisions, including those regarding their positions in Units.

The Listed Issuer is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each Unit of the Listed Issuer comprises 1 CapitaLand Ascott REIT unit and 1 CapitaLand Ascott BT unit. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd.

The percentage of interest immediately before and after the change is calculated on the basis of 3,786,531,273 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.0001%, as the case may be. Any discrepancies in aggregated figures are due to rounding.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 11581796 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.30000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd. ("CLASBTMPL").

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024, and the percentage of total number of ordinary voting stapled securities held "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 following the issuance of stapled securities.

The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 10797491 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.28000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLASBTMPL is entitled to receive 784,305 stapled securities in CLAS at an issue price of S$0.8842 per stapled security as partial payment of the management fee (base fee and performance fee) for the period from 1 April 2024 to 30 June 2024 (both dates inclusive). CLASBTMPL has sold the 784,305 stapled securities which it is entitled to receive, to Somerset Capital Pte Ltd ("SCPL"), a related corporation of CLASBTMPL, and in connection with the sale, CLASBTMPL has directed that such stapled securities be issued directly to SCPL instead of CLASBTMPL.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 following the issuance of stapled securities.

The percentages are rounded down to the nearest 0.01%.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 292758681 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 7.72000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited ("CLASML") and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024, and the percentage of total number of ordinary voting stapled securities held "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 following the issuance of stapled securities.

The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 288566812 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 7.61000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLASML is entitled to receive 4,191,869 stapled securities in CLAS at an issue price of S$0.8842 per stapled security as partial payment of the management fee (base fee) for the period from 1 April 2024 to 30 June 2024 (both dates inclusive). CLASML has sold the 4,191,869 stapled securities which it is entitled to receive, to Somerset Capital Pte Ltd ("SCPL"), a related corporation of CLASML, and in connection with the sale, CLASML has directed that such stapled securities be issued directly to SCPL instead of CLASML.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,791,507,447 stapled securities as at 7 August 2024 following the issuance of stapled securities.

The percentages are rounded down to the nearest 0.01%.

Remarks
Part payment of director's fees for the year ended 31 December 2023 by way of stapled securities in CapitaLand Ascott Trust to non-executive independent director of CapitaLand Ascott Trust Management Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 122123 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00300000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024. The percentages are rounded to the nearest 0.001%.

Remarks
Part payment of director's fees for the year ended 31 December 2023 by way of stapled securities in CapitaLand Ascott Trust to non-executive independent director of CapitaLand Ascott Trust Management Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 60216 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00200000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024. The percentages are rounded to the nearest 0.001%.

Remarks
Part payment of director's fees for the year ended 31 December 2023 by way of stapled securities in CapitaLand Ascott Trust to non-executive independent director of CapitaLand Ascott Trust Management Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 140488 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00400000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024. The percentages are rounded to the nearest 0.001%.

Remarks
Part payment of director's fees for the year ended 31 December 2023 by way of stapled securities in CapitaLand Ascott Trust to non-executive independent director of CapitaLand Ascott Trust Management Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 159091 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00400000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024. The percentages are rounded to the nearest 0.001%.

Remarks
Part payment of directors' fees for the year ended 31 December 2023 by way of stapled securities in CapitaLand Ascott Trust to various non-executive independent directors of CapitaLand Ascott Trust Management Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 288566812 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 7.62000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024.

The percentages are rounded to the nearest 0.01%.

Remarks
Acceptance of 102,291 time-based award under Restricted Stapled Security Plan ("RSSP") of CapitaLand Ascott Trust Management Limited ("CLASML").

Immediately after the transaction

No. of rights/options/warrants held: 765,566
No. of shares/units underlying the rights/options/warrants: 1,250,634

1. CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("REIT") and CapitaLand Ascott Business Trust ("BT"). Each stapled security of CLAS comprises one unit in REIT and one unit in BT. The managers of REIT and BT are CLASML and CapitaLand Ascott Business Trust Management Pte Ltd, respectively. This notification is for the stapled securities in relation to Part I item 1. Any reference to units above relates to the stapled securities in CLAS.

Immediately before the transaction:
No. of rights/options/warrants held: 663,275 comprising:
(i) 485,068* contingent baseline stapled securities awards under CLASML's Performance Stapled Security Plan ("PSSP", and such awards granted under PSSP, "PSSP Awards"); and
(ii) 178,207^ unvested stapled securities under RSSP.

No. (if known) of shares/units underlying the rights/options/warrant: 1,148,343 comprising:
(i) up to 970,136* stapled securities under PSSP; and
(ii) 178,207^ unvested stapled securities under RSSP.

3. Immediately after the transaction:
No. of rights/options/warrants held: 765,566 comprising:
(i) 485,068* PSSP Awards; and
(ii) 178,207^ and 102,291 unvested stapled securities under RSSP.

No. (if known) of shares/units underlying the rights/options/warrant: 1,250,634 comprising:
(i) up to 970,136* stapled securities under PSSP; and
(ii) 178,207^ and 102,291 unvested stapled securities under RSSP.

* the final number of stapled securities to be released will depend on the achievement of pre-determined targets at the end of the respective performance periods under the PSSP. The release will be made partly in the form of stapled securities and partly in the form of cash.

^ on the final vesting, an additional number of stapled securities of a total value equal to the value of the accumulated distributions which are declared during each of the vesting periods and deemed foregone due to the vesting mechanism of the RSSP, will also be released.

Remarks
Lapse of the Entitlement pursuant to the preferential offering. Accordingly, there is no change to the total number of stapled securities in CLAS held by me. Immediately after the transaction

No. of ordinary voting shares/units held: 38113 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00100000 (Direct Interest); 0.00000000 (Deemed Interest) No. of rights/options/warrants held: 0 No. of shares/units underlying the rights/options/warrants: 0

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd.. As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities in relation to Part I paragraph 1. Any reference to units above relates to the stapled securities in CLAS. In relation to Table 1 of item 8 of Transaction A: (a) application for pro rata entitlement in the preferential offering in 2023 was not successful as application was rejected, and accordingly, the total number of stapled securities in CLAS held by me remains as 38,113. (b) the percentage of the number of ordinary voting stapled securities in CLAS held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,658,596,628 stapled securities as at 14 August 2023. The percentages are rounded to the nearest 0.001%.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 10797491 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.28000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

770,253 stapled securities in CLAS have been issued on 8 May 2024 at an issue price of S$0.9211 per stapled security to CapitaLand Ascott Business Trust Management Pte. Ltd., the trustee-manager of CapitaLand Ascott BT, as partial payment of the base fee and performance fee for the period from 1 January 2024 to 31 March 2024 (both dates inclusive).

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" is calculated based on 3,781,644,024 stapled securities as at 24 April 2024, and the percentage of total number of ordinary voting stapled securities held "immediately after the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024.

The percentages are rounded to the nearest 0.01%.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 288639709 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 7.62000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

4,116,996 stapled securities in CLAS have been issued on 8 May 2024 at an issue price of S$0.9211 per stapled security to CapitaLand Ascott Trust Management Limited, the manager of CapitaLand Ascott REIT, as partial payment of the base fee for the period from 1 January 2024 to 31 March 2024 (both dates inclusive).

The percentage of total number of ordinary voting stapled securities in CLAS held "immediately before the transaction" is calculated based on 3,781,644,024 stapled securities as at 24 April 2024, and the percentage of total number of ordinary voting stapled securities held "immediately after the transaction" is calculated based on 3,786,531,273 stapled securities as at 8 May 2024.

The percentages are rounded to the nearest 0.01%.

Remarks
Acceptance of 204,582 Award under Performance Stapled Security Plan ("PSSP") of CapitaLand Ascott Management Limited ("CLASML"). The final no. of stapled securities to be released will depend on the achievement of pre-determined target at the end of the performance period for PSSP. The release will be made partly in the form of units and partly in the form of cash.

Immediately after the transaction

No. of rights/options/warrants held: 663,275
No. of shares/units underlying the rights/options/warrants: 1,148,343

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("REIT") and CapitaLand Ascott Business Trust ("BT"). Each stapled security of CLAS comprises one unit in REIT and one unit in BT. The managers of REIT and BT are CLASML and CapitaLand Ascott Business Trust Management Pte Ltd, respectively. Any reference to units above relates to the stapled securities in CLAS.

Immediately before the transaction:
No. of rights/options/warrants held: 458,693 comprising:
(i) 280,486* Awards under CLASML's PSSP; and
(ii) 178,207^ unvested stapled securities under CLASML's Restricted Stapled Security Plan ("RSSP").

No. (if known) of shares/units underlying the rights/options/warrant: 739,179 comprising:
(i) up to 560,972* stapled securities under PSSP; and
(ii) 178,207^ unvested stapled securities under RSSP.

Immediately after the transaction:
No. of rights/options/warrants held: 663,275 comprising:
(i) 485,068* Awards under CLASML's PSSP; and
(ii) 178,207^ unvested stapled securities under RSSP.

No. (if known) of shares/units underlying the rights/options/warrant: 1,148,343 comprising:
(i) up to 970,136* stapled securities under PSSP; and
(ii) 178,207^ unvested stapled securities under RSSP.

* the final number of stapled securities to be released will depend on the achievement of pre-determined targets at the end of the respective performance periods under the PSSP. The release will be made partly in the form of units and partly in the form of cash.

^ on the final vesting, an additional number of stapled securities of a total value equal to the value of the accumulated distributions which are declared during each of the vesting periods and deemed foregone due to the vesting mechanism of the RSSP, will also be released.

Remarks
Payment of acquisition fees by way of issue of an aggregate of 5,592,029 new Units to CapitaLand Ascott Trust Management Limited ("CLASML") and CapitaLand Ascott Business Trust Management Pte. Ltd. ("CLASBTMPL"), as announced by the Listed Issuer on 24 April 2024.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 1250470675 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 33.06000000 (Deemed Interest)

Tembusu does not have any direct interest in Units.

Tembusu is filing this notification form to report a change in the percentage level of its deemed interest in Units from 32.96% to 33.06% due to the payment of acquisition fees by way of issue of an aggregate of 5,592,029 new Units to CLASML and CLASBTMPL, as announced by the Listed Issuer on 24 April 2024.

Tembusu's deemed interest in Units arises through CLA Real Estate and Fullerton.

(A) Tembusu's deemed interest via CLA Real Estate 32.717%
(i) CLASML holds 7.523% of Units.
(ii) Somerset Capital Pte Ltd ("Somerset") holds 15.767% of Units.
(iii) The Ascott Limited ("TAL") holds 5.011% of Units.
(iv) Somerset is a subsidiary of TAL.
(v) CLASML and TAL are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI through two other subsidiaries has a deemed interest in a further 0.353% of Units.
(vii) CLI is a subsidiary of CapitaLand Group Pte. Ltd. ("CapitaLand").
(viii) CapitaLand holds 4.060% of Units.
(ix) CapitaLand is a subsidiary of CLA Real Estate.
(x) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(xi) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(xii) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xiii) Mawson is a subsidiary of Bartley Investments Pte. Ltd. ("Bartley").
(xiv) Bartley is a subsidiary of Tembusu.

(B) Tembusu's deemed interest through Fullerton 0.349%
(i) Fullerton has an interest in 0.349% of Shares as investment manager for various funds, including funds in which Temasek through a subsidiary has an interest.
(ii) Fullerton is an indirect subsidiary of Temasek.


Total deemed interest of Tembusu 33.06%


CLA Real Estate and Fullerton are independently managed Temasek portfolio companies. Tembusu is not involved in their business or operating decisions, including those regarding their positions in Units.

The Listed Issuer is a stapled group comprising CapitaLand Ascott REIT and CapitaLand Ascott BT. Each Unit of the Listed Issuer comprises 1 CapitaLand Ascott REIT unit and 1 CapitaLand Ascott BT unit. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd.

The percentage of interest immediately before the change is calculated on the basis of 3,776,051,995 Units.

The percentage of interest immediately after the change is calculated on the basis of 3,781,644,024 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.001%, as the case may be. Any discrepancies in aggregated figures are due to rounding.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 10027238 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.26000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

1,100,215 stapled securities in CLAS ("Stapled Securities") have been issued on 24 April 2024 at an issue price of S$0.9298 per stapled security to CapitaLand Ascott Business Trust Management Pte. Ltd., the trustee-manager of CapitaLand Ascott BT, as payment of Acquisition Fees (as defined in the CapitaLand Ascott BT deed of trust dated 9 September 2019 (as amended)) in relation to the acquisition of a hotel property in Ireland.

The percentage of total number of ordinary voting Stapled Securities held "immediately before the transaction" is calculated based on 3,776,051,995 Stapled Securities as at 27 February 2024, and the percentage of total number of ordinary voting Stapled Securities held "immediately after the transaction" is calculated based on 3,781,644,024 Stapled Securities as at 24 April 2024.

The percentages are rounded to the nearest 0.01%.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 284522713 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 7.52000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

4,491,814 stapled securities in CLAS ("Stapled Securities") have been issued on 24 April 2024 at an issue price of S$0.9298 per stapled security to CapitaLand Ascott Trust Management Limited, the manager of CapitaLand Ascott REIT, as payment of Acquisition Fees (as defined in the CapitaLand Ascott REIT deed of trust dated 19 January 2006 (as amended)) in relation to the acquisition of a serviced residence property in Indonesia and a hotel property in the United Kingdom.

The percentage of total number of ordinary voting Stapled Securities held "immediately before the transaction" is calculated based on 3,776,051,995 Stapled Securities as at 27 February 2024, and the percentage of total number of ordinary voting Stapled Securities held "immediately after the transaction" is calculated based on 3,781,644,024 Stapled Securities as at 24 April 2024.

The percentages are rounded to the nearest 0.01%.

Remarks
Receipt of 61,374 stapled securities under CapitaLand Ascott Management Limited's Restricted Stapled Security Plan.

Immediately after the transaction

No. of ordinary voting shares/units held: 173894 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00500000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting Stapled Securities held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,776,051,995 stapled securities as at 27 February 2024. The percentages are rounded to the nearest 0.001%.

Remarks
Transfer of 130,788 stapled securities in CapitaLand Ascott Trust ("Stapled Securities") from CapitaLand Ascott Trust Management Limited's securityholding to its key management personnel and eligible employees under the Restricted Stapled Security Plan.

Immediately after the transaction

No. of ordinary voting shares/units held: 280030899 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 7.41000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting Stapled Securities held "immediately before the transaction" and "immediately after the transaction" is calculated based on on 3,776,051,995 stapled securities as at 27 February 2024.

The percentages are rounded down to the nearest 0.01%.

Remarks
Type of securities which are subject of the transaction
Subscription of S$250,000 in principal amount of 4.223 per cent Notes due 2028 on 7 November 2023 issued by Ascott REIT MTN Pte. Ltd. (the "Issuer"), a wholly owned subsidiary of DBS Trustee Limited (in its capacity as trustee of CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT")), under its S$2,000,000,000 Multicurrency Debt Issuance Programme.

Acquisition of Securities via a placement

Amount of consideration paid or received by Director/CEO (excluding brokerage and stamp duties): S$250,000

Immediately after the transaction

S$100,000,000 4.223 per cent Notes due 2028 issued under Ascott REIT MTN Pte. Ltd.'s S$2,000,000,000 Multicurrency Debt Issuance Programme 250,000

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Businesss Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

On 31 October 2023, it was announced that the Issuer, a wholly owned subsidiary of DBS Trustee Limited, in its capacity as trustee of CapitaLand Ascott REIT, had priced S$100,000,000 in principal amount of 4.223 per cent Notes due 2028 (the "Notes") under its S$2,000,000,000 Multicurrency Debt Issuance Programme. The Notes were listed and quoted on Singapore Exchange Securities Trading Limited on 7 November 2023.

Remarks
Acceptance of 184,124^ deferred award under Restricted Stapled Security Plan ("RSSP") of CapitaLand Ascott Management Limited ("CLASML")

Immediately after the transaction

No. of rights/options/warrants held: 520,067
No. of shares/units underlying the rights/options/warrants: 800,553

1. CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("REIT") and CapitaLand Ascott Business Trust ("BT"). Each stapled security of CLAS comprises one unit in REIT and one unit in BT. The managers of REIT and BT are CLASML and CapitaLand Ascott Business Trust Management Pte Ltd, respectively. This notification is for the stapled securities in relation to Part I item 1. Any reference to units above relates to the stapled securities in CLAS.

2. Immediately before the transaction:
No. of rights/options/warrants held: 335,943 comprising:
(i) 280,486* contingent baseline stapled securities awards under CLASML's Performance Stapled Security Plan ("PSSP", and such awards granted under PSSP, "PSSP Awards"); and
(ii) 55,457^ unvested stapled securities under RSSP.

No. (if known) of shares/units underlying the rights/options/warrant: 616,429 comprising:
(i) up to 560,972* stapled securities under PSSP; and
(ii) 55,457^ unvested stapled securities under RSSP.

3. Immediately after the transaction:
No. of rights/options/warrants held: 520,067 comprising:
(i) 280,486* PSSP Awards; and
(ii) 239,581^ unvested stapled securities under RSSP.

No. (if known) of shares/units underlying the rights/options/warrant: 800,553 comprising:
(i) up to 560,972* stapled securities under PSSP; and
(ii) 239,581^ unvested stapled securities under RSSP.

* the final number of stapled securities to be released will depend on the achievement of pre-determined targets at the end of the respective performance periods under the PSSP. The release will be made partly in the form of units and partly in the form of cash.

^ on the final vesting, an additional number of stapled securities of a total value equal to the value of the accumulated distributions which are declared during each of the vesting periods and deemed foregone due to the vesting mechanism of RSSP, will also be released.

Remarks
Receipt of 500,254 stapled securities awarded under CLASML's PSSP and RSSP.

Immediately after the transaction

No. of ordinary voting shares/units held: 2373188 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.06300000 (Direct Interest); 0.00000000 (Deemed Interest)

CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust ("CapitaLand Ascott REIT") and CapitaLand Ascott Business Trust ("CapitaLand Ascott BT"). Each stapled security of CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT. The manager of CapitaLand Ascott REIT is CapitaLand Ascott Trust Management Limited and the trustee-manager of CapitaLand Ascott BT is CapitaLand Ascott Business Trust Management Pte. Ltd..

As each stapled security in CLAS comprises one unit in CapitaLand Ascott REIT and one unit in CapitaLand Ascott BT, this notification is for the stapled securities. Any reference to units above relates to the stapled securities in CLAS.

The percentage of total number of ordinary voting Stapled Securities held "immediately before the transaction" and "immediately after the transaction" is calculated based on 3,776,051,995 stapled securities as at 27 February 2024.

The percentages are rounded up to the nearest 0.001%.

Remarks
Final number of 370,782 stapled securities awarded under CapitaLand Ascott Management Limited ("CLASML")'s Performance Stapled Security Plan ("PSSP"). The release was made partly in the form of stapled securities and partly in the form of cash.

Immediately after the transaction

No. of rights/options/warrants held: 332,768
No. of shares/units underlying the rights/options/warrants: 554,568

Immediately before the transaction:

(a) the no. of rights/options/warrants held: 721,741 comprises:
(i) 407,218* Awards stapled securities under PSSP; and
(ii) 314,523^ unvested stapled securities under CLASML's Restricted Stapled Security Plan ("RSSP").

(b) the no. (if known) of shares/stapled securities underlying the rights/options/warrants: 1,128,959 comprises:
(i) up to 814,436* stapled securities under PSSP; and
(ii) 314,523^ unvested stapled securities under RSSP.

Immediately after the transaction:

(a) the no. of rights/options/warrants held: 332,768 comprises:
(i) 221,827* Awards stapled securities under PSSP; and
(ii) 110,914^ unvested stapled securities under RSSP.

(b) the no. (if known) of shares/stapled securities underlying the rights/options/warrants: 554,568 comprises:
(i) up to 443,654* stapled securities under PSSP; and
(ii) 110,914^ unvested stapled securities under RSSP.

Awards refers to contingent baseline stapled securities awards

* the final number of stapled securities to be released will depend on the achievement of pre-determined targets at the end of the respective performance periods for PSSP. The release will be made partly in the form of stapled securities and partly in the form of cash.

^ on the final vesting, an additional number of stapled securities of a total value equal to the value of the accumulated distributions which are declared during each of the vesting periods and deemed foregone due to the vesting mechanism of RSSP, will also be released.