CapitaLand Integrated Commercial Trust - Annual Report 2021

Notes to the Financial Statements YEAR ENDED 31 DECEMBER 2021 5 INVESTMENT PROPERTIES (continued) Significant unobservable inputs (continued) Valuation technique Significant unobservable inputs Inter-relationship between key unobservable inputs and fair value measurement Discounted cash flow method Discount rate Group Singapore Retail 2021: 7.00% to 8.00% (2020: 7.00% to 7.50%) Integrated Developments 2021: 7.00% to 7.25% (2020: 6.75% to 7.25%) Office 2021: 6.50% to 6.75% (2020: 6.75%) Germany Office 2021: 5.15% to 6.00% (2020: 3.13% to 4.00%) The estimated fair value would increase/(decrease) if the discount rates were lower/(higher). Discounted cash flow method Terminal yield rate Group Singapore Retail 2021: 4.75% to 7.25% (2020: 4.75% to 6.55%) Integrated Developments 2021: 3.88% to 5.10% (2020: 4.00% to 5.10%) Office 2021: 3.40% to 4.00% (2020: 3.45% to 4.20%) Germany Office 2021: 2.95% to 3.60% (2020: 3.90% to 4.25%) The estimated fair value would increase/(decrease) if the terminal yield rates were lower/(higher). Annual Report 2021 253