DISTRIBUTION STATEMENT Year ended 31 December 2023 The accompanying notes form an integral part of these financial statements. Group 2023 2022 $’000 $’000 Amount available for distribution to Unitholders at beginning of the year 364,108 346,581 Total return attributable to Unitholders 862,570 723,369 Net tax and other adjustments (Note A) (168,722) (71,130) Tax-exempt income 3,352 51,376 Capital distributions 22,518 9,289 Distribution income (taxable) from joint ventures 8,768 64 728,486 712,968 Amount available for distribution to Unitholders 1,092,594 1,059,549 Distributions to Unitholders during the year: Distribution of 4.85 cents per unit for period from 01/07/2021 to 15/12/2021 – (314,332) Distribution of 0.37 cents per unit for period from 16/12/2021 to 31/12/2021 – (24,452) Distribution of 5.22 cents per unit for period from 01/01/2022 to 30/06/2022 – (346,063) Distribution of 5.36 cents per unit for period from 01/07/2022 to 31/12/2022 (355,643) – Distribution of 5.30 cents per unit for period from 01/01/2023 to 30/06/2023 (352,534) – (708,177) (684,847) Amount retained for general corporate and working capital purposes (Note B) (12,760) (10,594) Amount available for distribution to Unitholders at end of the year 371,657 364,108 Distribution per unit (cents)1 10.75 10.58 1 The Distribution per unit relates to the distributions in respect of the relevant financial year. The distribution relating to the period 1 July to 31 December 2023 will be paid after 31 December 2023. Note A – Net tax and other adjustments comprise: Group 2023 2022 $’000 $’000 – Management fees paid and payable in Units 44,866 43,243 – Trustee’s fees 3,194 3,096 – Amortisation of transaction costs 5,921 7,873 – Net change in fair value of investment properties1 (118,830) 84,699 – Profit of subsidiaries (59,033) (64,360) – Share of results (net of tax) of joint ventures (15,579) (42,467) – Taxation1 10,535 4,255 – Gain on divestment of investment property – (57,257) – Temporary differences and other adjustments2 (43,851) (13,619) – Rollover adjustments3 4,055 (36,593) Net tax and other adjustments (168,722) (71,130) 1 These exclude the non-controlling interests’ share of Gallileo Property S.a.r.l. (“Gallileo Co.”), MAC Property Company B.V. and MAC Car Park Company B.V. (“MAC entities”) and 79RR LLP. 2 For FY 2023, these include the government grant income of $34.4 million in relation to the construction of underground pedestrian link at Funan and the accounting effect of the purchase price allocation adjustment of certain fixed rate borrowings. For FY 2022, these include mainly accounting effect of the purchase price allocation adjustment of certain fixed rate borrowings. 3 In FY 2022, taxable income distribution includes a rollover adjustment of $37.0 million arising from the COVID-19 cash grants received by the Group in FY 2020, which was previously included as part of the taxable income distribution in FY 2020. The COVID-19 cash grants received from the Government are exempted from tax. A corresponding adjustment of $37.0 million has been included in the tax-exempt income for FY 2022 with no resultant impact to the distributable income for FY 2022. Note B Amount retained for general corporate and working capital in financial year 2023 relates to distribution income received from CapitaLand China Trust (“CLCT”) of $9.5 million (2022: $7.9 million) and Sentral REIT of $3.2 million (2022: $2.7 million). 178 CAPITALAND INTEGRATED COMMERCIAL TRUST
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