18 19 Annual Report 2025 CapitaLand Integrated Commercial Trust Value Creation Value Creation Journey Divestment of the Serviced Residence (SR) Component of CapitaSpring A • Divested 45% interest in the SR Component of CapitaSpring to RP Riverside II (B.V.I.) Limited and YTL Riverside Pte. Ltd. at an estimated exit yield of 3.6%1 • Agreed property value: S$280.0 million2 on a 100% basis • Completion: 30 May 2025 1 Based on the annualised net property income for the financial quarter ended 31 March 2025 and the agreed property value of the SR Component. 2 Cushman & Wakefield VHS Pte. Ltd. had valued the SR Component of CapitaSpring at S$278.5 million as at 31 December 2024 using the income capitalisation and discounted cashflow methods. CICT Value Creation Strategy 01 03 02 04 Capital Management Prudent cost management and agile capital management to enhance financial flexibility Sustainability Operational efficiencies and sustainability initiatives to meet CLI Sustainability Master Plan 2030 targets Portfolio Management Proactive portfolio and asset management to drive higher occupancy and rents while managing operating cost Value Creation Disciplined portfolio reconstitution and proactive AEI to optimise portfolio and/or unlock value Divestment of Bukit Panjang Plaza • Divested Bukit Panjang Plaza1 to SG Bravo Retail Property Pte. Ltd. at an exit yield around the mid-4% level2 • Agreed property value: S$428.0 million3 • Completion: 27 February 2026 1 90 out of 91 strata lots held by CICT. 2 Based on FY 2024 net property income adjusted for one-offs and deduction of lease payments for right-of-use assets. 3 Cushman & Wakefield VHS Pte. Ltd. had valued the property at S$389.0 million as at 31 December 2025 using the income capitalisation and discounted cashflow methods. Acquisition of the Remaining 55% interest in the office and retail component (Commercial Component) of CapitaSpring B • Acquired 55% interest in the Commercial Component of CapitaSpring from Glory Office Pte. Ltd. and MEA Commercial Holdings Pte. Ltd. at an entry yield of low 4% • Agreed property value: S$1,900.0 million on a 100% basis1 • Acquisition financed via S$600 million private placement to institutional investors at S$2.11 per Unit • Completion: 26 August 2025 1 Savills Valuation and Professional Services (S) Pte Ltd and Knight Frank Pte Ltd had respectively valued the Commercial Component of CapitaSpring at S$1,905.0 million and S$1,895.0 million as at 30 June 2025 using the income capitalisation and discounted cashflow methods.
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