CapitaLand Integrated Commercial Trust - Annual Report 2021

QUALIFYING CLAUSE CBRE SINGAPORE This Independent Market Report is subject to the following limiting conditions: The content of this Independent Market Report is for information only and should not be relied upon as a substitute for professional advice, which should be sought from CBRE prior to acting in reliance upon any such information. The Independent Market Report is strictly limited to the matters contained within, and is not to be read as extending, by implication or otherwise, to any other matter in the Annual Report. Without limitation to the above, no liability is accepted for any loss, harm, cost or damage (including special, consequential or economic harm or loss) suffered as a consequence of fluctuations in the real estate market subsequent to the date of the report. CBRE has prepared the Independent Market Report relying on and referring to information provided by third parties including financial and market data, along with other information (“Information”). CBRE assumes that the Information is accurate, reliable and complete however CBRE has not independently verified such Information. CBRE accepts no responsibility for inaccurate Information provided by third parties and subsequent conclusions derived from such Information. No responsibility is accepted for any loss or damage arising as a result of reliance upon this Market Report. CBRE disclaims any liability in respect of any claim that may arise from any errors or omissions, or from providing such advice, opinion, judgment or information. The Independent Market Report may not be reproduced in whole or in part without the prior written approval of CBRE. CBRE has prepared this Independent Market Report for inclusion within the Annual Report but has not been involved in the preparation of the Annual Report. CBRE has not been required to approve or express any opinion about any part of the Annual Report other than this Independent Market Report. CBRE disclaims any liability to any person in the event of an omission from, or false and misleading statements included in the Annual Report. The outbreak of the Novel Coronavirus (COVID-19), declared by the World Health Organisation as a “Global Pandemic” on the 11 th March 2020, has impacted many aspects of daily life and the global economy–withsomereal estatemarketsexperiencing significantly lower levels of transactional activity and liquidity. This report has been prepared under conditions of heightened market uncertainty and conditions may change more rapidly and significantly than during standard market conditions. A higher degree of caution should be attached to our analysis than would normally be the case. CBRE GERMANY This report has been prepared with the necessary diligence and information contained herein has been obtained from sources believed to be reliable. Nevertheless, it cannot be ruled out that, despite careful research and appropriate calculation of possible risks, the information provided in this report may contain mistakes and/or inaccuracies. Liability Limitation Thus, we make no guarantee, warranty or representation about the correctness, accuracy, timeliness and completeness of the content of this report and the sources it is based on. Any liability for the content of this report is limited to wilful misconduct and gross negligence as well as to the violation of a material contractual obligation. This also applies to actions of legal representatives and vicarious agents. In case of a slightly negligent violation of a material contractual obligation, also by a legal representative or a vicarious agent, liability is limited to compensation of the damage typical for the contract and foreseeable at the time of its conclusion. For any slightly negligent violation of accessory contractual obligations that are not material contractual obligations, liability is excluded. Any liability for any damage falling in the scope of protection of a contractual guarantee or warranty as well as any liability for claims on the basis of the Product Liability Act and damage resulting from an injury of life, body or health remains unaffected. The purposeof this report is toprovideinformation. Itmust not be understood as giving any recommendation for a specific course of action or as a call for making a buying offer. All opinions, projections, comments, assumptions and assessments are of general nature and not targeted to the specific situation of a single person or legal entity. Thus, no one should act on the basis of the information contained in this report, without having obtained in advance own Annual Report 2021 123 Independent Market Review