CapitaLand Integrated Commercial Trust - Annual Report 2021

KEY FINANCIAL INDICATORS As at 31 December 2020 As at 31 December 2021 Aggregate Leverage 1,2 (%) 40.6 37.2 3 %of Total Assets that are Unencumbered (%) 95.8 96.1 Net Debt / EBITDA 4 (times) N.M. 5 9.5 Interest Coverage 2,6 (times) 3.8 4.1 Average Term to Maturity (years) 4.1 3.9 Average Cost of Debt 7 (%) 2.8 2.3 CICT's Issuer Rating ‘A3’ by Moody’s ‘A-‘ by S&P ‘A3’ by Moody’s ‘A-‘ by S&P 1 In accordance with Property Funds Appendix, CICT’s proportionate share of its joint ventures’ borrowings and deposited property values are included when computing aggregate leverage. The ratio of total gross borrowings to total net assets is 63.1% and 71.6% as at 31 December 2021 and 31 December 2020 respectively. 2. Following the release of the circular dated 28 December 2021 fromMonetary Authority of Singapore to exclude the land lease liabilities and interest expense on lease liabilities in the computation. On the same basis, the aggregate leverage as at 31 December 2020 is 40.5% while the interest cover as at 31 December 2020 remains the same as previously reported. 3. Pro forma aggregate leverage post acquisition of the three Australian properties is 40.0%. 4. Net Debt comprises gross debt of CICT Group and its proportionate share of joint ventures’ borrowings less total cash of CICT Group and EBITDA refers to earnings of CICT Group, before interest, tax, depreciation and amortisation (excluding effects of any fair value changes of derivatives and investment properties, and foreign exchange translation as well as non-operational gain/loss and share of results of joint ventures) and distribution income from joint ventures, on a trailing 12-month basis. 5. N.M.: Not meaningful for information as at 31 December 2020 as net debt includes CCT’s and RCS Trust’s borrowings but the incremental EBITDA from the acquired entities after the Merger is only from 21 October 2020 to 31 December 2020. 6. Ratio of earnings of CICT Group, before interest, tax, depreciation and amortisation (excluding effects of any fair value changes of derivatives and investment properties, and foreign exchange translation as well as non-operational gain/loss and share of results of joint ventures) and distribution income from joint ventures, over interest expense and borrowing-related costs, on a trailing 12-month basis. 7. Ratio of interest expense over weighted average borrowings. CAPITAL MANAGEMENT In 2021, CMT MTN Pte. Ltd. (CMT MTN) issued a HK$ denominated note and Singapore dollar denominated note under the unsecured S$7.0 billion Multicurrency Medium Term Note Programme (MTN Programme) as follows: 1. HK$713.0 million fixed rate notes due 1 February 2033 at 2.53%per annumon 1 February 2021, which was swapped to S$125.0 million at 2.15%; and 2. S$460.0 million fixed rate notes due 8 March 2028 at 2.10% per annum on 8 March 2021. The above fixed rate notes were used to refinance the S$350.0 million retail bonds and S$213.3 million of the MTN notes due in FY 2021. On 12 November 2021, the Manager announced the divestment of One George Street (OGS) (50.0% interest) held through One George Street LLP (OGS LLP) and the sale was completed on 9 December 2021. On 3 December 2021 and 23 December 2021, the Manager announced the proposed acquisitions of 66 Goulburn Street and 100 Arthur Street and 50.0% interest in 101-103 Miller Street and Greenwood Plaza, Sydney, Australia respectively (the “Proposed Acquisitions”). The total acquisition outlay for the Proposed Acquisitions approximates S$821.8 million. TheProposedAcquisitionsareexpectedtobecompleted in first quarter of 2022, subject to the fulfilment of certain conditions precedent, which include the receipt of approval from the relevant authority. 127,551,000newunitswere issuedon16December 2021 pursuant to a private placement to raise approximately S$250.0 million of equity proceeds. As set out in the private placement announcement dated 8 December 2021 in relation to the close of the private placement, approximately S$245.9 million (which is equivalent to approximately 98.4% of the gross proceeds of the private placement) will be deployed to partially fund the Proposed Acquisitions and the balance is to be used to pay estimated transaction-related expenses in connection with the private placement. In the private placement announcement, it was stated that pending the deployment of the net proceeds from the private placement, the net proceeds may be used, among others, to repay outstanding borrowings. As set out in the announcement dated 23 December 2021 (Use of Proceeds Announcement) in relation to the useofproceedsof theprivateplacement, approximately CapitaLand Integrated Commercial Trust 70 Capital Management

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