CapitaLand Integrated Commercial Trust - Annual Report 2021

information and appropriate professional advice, and without a thorough analysis of the circumstances at hand. Further, we make no guarantee, warranty or representation that the opinions, projections, comments, assumptions and assessments made in this report, as well as the market, competitive, economic or regulatory environment will remain unchanged in the future. Also in this regard, any use of the information contained in this report is in the sole responsibility of the user. Copyright Notice The content of this report is protected by copyright. All rights remain reserved. The exploitation of this report, in particular its reproduction, distribution, exhibition and/or adaption, in whole or in part respectively, and irrespective of the chosen medium, requires our prior written consent and a source indication. The above provisions regarding limitation of liability apply mutatis mutandis; also in this case, any exploitation of the report is in the sole responsibility of the user. In particular, it is forbidden to exploit this report without prior written consent for own commercial purposes, such as, but not limited to, a use in prospects, for in-company training, in course materials and in electronic systems as well as on internet websites. Violations can result in civil liability and/or criminal prosecution. Market Volatility The outbreak of the Novel Coronavirus (COVID-19), declared by the World Health Organisation as a global pandemic on the 11th March 2020, is causing heightened uncertainty in both local and global market conditions. Our assignment is based on the information available to us at the date of assessment. You acknowledge that our reports may include clauses highlighting the heightened market uncertainty if appropriate, and we recommend our assessment is kept under frequent review. Both governments and companies are initiating travel restrictions, quarantine and additional safety measures in response to the COVID-19 pandemic. If, at any point, our ability to deliver the services under the LOE are restricted due to the pandemic, we will inform you within a reasonable timeframe and work with you on how to proceed. Whilst we will endeavour to meet the required timeframe for delivery, you acknowledge any Government or company-imposed restrictions due to the virus may impede our ability to meet the timeframe and/or deliverables of this engagement, and delays may follow. Any delays or inability to deliver on this basis would not constitute a failure to meet the terms of this engagement. CBRE AUSTRALIA This Report is subject to the following limiting conditions: The content of this 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 opinions, estimates and information given herein or otherwise in relation hereto are made by CBRE and affiliated companies in their best judgment, in the utmost good faith and are as far as possible based on data or sources which they believe to be reliable in the context hereto. Where it is stated in the Report that information has been supplied to CBRE’s by another party, this information is believed to be reliable by CBRE. Other information is derived from sources which we believe to be reliable to the best of our ability. We can accept no responsibility if this should prove not to be so. Notwithstanding this, 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. All rights are reserved. No part of this report may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of CBRE. The outbreak of the Novel Coronavirus (COVID-19), declared by the World Health Organisation as a “Global Pandemic” on the 11th 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. CapitaLand Integrated Commercial Trust 124 Independent Market Review