18 CapitaLand Integrated Commercial Trust Value Creation VALUE CREATION STRATEGY Acquired 50.0% interest in ION Orchard and ION Orchard Link (ION Orchard) from CLI Singapore Pte. Ltd., extending CICT’s footprint in downtown Orchard Road Agreed property value: S$3,697.0 million1 on a 100% basis A BCA Green Mark Gold & LEED Gold property VALUE CREATION IN 2024 ION Orchard, Singapore 1 Savills Valuation and Professional Services (S) Pte Ltd and Cushman & Wakefield VHS Pte. Ltd. had respectively valued ION Orchard at S$3,715.0 million (100% basis) and S$3,690.0 million (100% basis) as at 31 July 2024 using the income capitalisation and discounted cash flow methods. Portfolio Management Proactive management to drive higher occupancy and rents, and manage operating costs Capital Management Prudent and agile capital management to enhance financial flexibility Sustainability Focus on operational efficiency and stakeholders' well-being that are aligned to meet CLI Sustainability Master Plan 2030 targets Value Creation Disciplined portfolio reconstitution and proactive asset enhancement initiative (AEI) to optimise and/or unlock value ACQUISITION COMPLETED ON 30 OCTOBER 2024 1 Acquisition financed via S$1.1 billion equity fund raising comprising: (A) Private placement for 171.7 million Units at S$2.04 per Unit was approximately 3.7 times oversubscribed (B) Preferential offering for 377.3 million Units at S$2.007 per Unit was 130.5% oversubscribed based on valid and excess applications 19 Annual Report 2024 Singapore S$48.0 million AEI to strengthen IMM Building’s position as a regional outlet destination, targeting a return on investment of ~8% Commenced in 1Q 2024 with target completion in 3Q 2025 Completed Phase 1 & 2 and commenced Phase 3 AEI Achieved 100% committed occupancy for Phase 1 and 2 AEI New outlet tenants include: Birkenstock, Oh!Sunny, Leonian ASSET ENHANCEMENT INITIATIVES 3 Germany ~EUR180 million AEI to elevate the property to be the modern workplace of the future Commenced in 1Q 2024 with target completion progressively in 2H 2025 Achieved committed occupancy of 97.4% Key tenant: European Central Bank (ECB) Gallileo, Frankfurt 101 Miller Street, North Sydney Australia ~A$9 million transformation of the lobby into a best-inclass communal space with meeting rooms and event space Revitalised lobby activated with new amenities such as café and meeting rooms are well-received by tenants Completed AEI with a grand opening held on 10 July 2024 Divested 21 Collyer Quay to Sun View SG I Pte. Ltd. for S$688.0 million1 at an exit yield of less than 3.5% based on annualised net property income for the 9-month period ended 30 September 2024 and the sale price. 1 Savills Valuation and Professional Services (S) Pte Ltd had valued 21 Collyer Quay at S$688.0 million as at 31 October 2024 using the income capitalisation and discounted cash flow methods. 21 Collyer Quay, Singapore DIVESTMENT COMPLETED ON 11 NOVEMBER 2024 2 IMM Building, Singapore
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