CapitaLand Integrated Commercial Trust - Annual Report 2021

Notes to the Financial Statements YEAR ENDED 31 DECEMBER 2021 34 FINANCIAL RATIOS Group 2021 2020 % % Expenses to weighted average net assets 1 – including performance component of Manager’s management fees 0.68 0.63 – excluding performance component of Manager’s management fees 0.38 0.38 Portfolio turnover rate 2 – – 1 The annualised ratios are computed in accordance with the guidelines of Investment Management Association of Singapore. The expenses used in the computation relate to expenses of the Group, excluding property expenses and finance costs. 2 The annualised ratio is computed based on the lesser of purchases or sales of underlying investment properties of the Group expressed as a percentage of average net asset value. 35 SUBSEQUENT EVENTS On 24 January 2022, the Manager announced that the Trustee has entered into a sale and purchase agreement in relation to the divestment of JCube which is expected to be completed in first quarter of 2022. On 18 February 2022, CMT MTN issued HKD900,000,000 2.95% fixed rate notes due 2031 (the “Notes”) through its EMTN programme. CMT MTN has entered into cross currency swap transactions to swap the HKD proceeds of the Notes into Singapore dollar proceeds. The proceeds from the issuance of the Notes will be used by CMT MTN and the Group to finance or refinance, in whole or in part, the Eligible Green Projects (as defined in the pricing supplement of the Notes) undertaken by the Group in accordance with the CICT Green Finance Framework (as defined in the pricing supplement of the Notes). Annual Report 2021 317