CapitaLand Integrated Commercial Trust - Annual Report 2021

Recovering Shopper Traffic In FY 2021, overall shopper traffic recovered to 97.8% of the level a year ago, as the retail environment improved in the second half of the year on the back of phased re-openings and reduced measures in place. Both suburban and downtown malls registered similar trends to the prior year. Shopper traffic in suburban malls recovered to about 99.3% of the level a year ago, while shopper traffic at downtown malls recovered to about 95.8% of the level a year ago. SHOPPER TRAFFIC OF RETAIL PORTFOLIO (million) 2021 2020 219.5 214.6 OCCUPANCY COST 1 OF RETAIL PORTFOLIO (%) 2021 2020 18.3 16.9 Retail Occupancy Cost CICT’s occupancy cost for the retail properties was 18.3% in FY 2021, an increase from FY 2020’s occupancy cost of 16.9%. The lower occupancy cost in FY 2020 was largely due to the higher amount of rental waivers provided to tenants. Occupancy cost is also dependent on various factors including trade mix and type of tenants in the portfolio. RETAIL PORTFOLIO (DOWNTOWN VS SUBURBAN MALLS) By NLA (As at 31 December 2021) Suburban 1 50.4% Downtown 2 49.6% 1 Comprises Tampines Mall, Junction 8, Lot One Shoppers’ Mall, Bukit Panjang Plaza, JCube, Bedok Mall, Westgate and retail component of IMM Building. 2 Comprises Bugis Junction, Bugis+, Clarke Quay, Plaza Singapura, and retail components of Raffles City Singapore, The Atrium@Orchard and Funan. 1 Occupancy cost is defined as a ratio of gross rental (inclusive of service charge, advertising & promotional charge and gross turnover rent) to tenants’ sales. CapitaLand Integrated Commercial Trust 64 Operations Review