34 CapitaLand Integrated Commercial Trust Capital Management Key Financial Indicators Key Financial Indicators As at 31 December 2024 As at 31 December 2025 Aggregate Leverage1 (%) 38.5 38.6 Total Borrowings (S$ billion) 8.9 10.0 % of Borrowings on Fixed Interest Rate 81 74 % of Total Assets that are Unencumbered 93.8 90.9 Interest Coverage Ratio (ICR)2 (times) 3.1 3.7 Average Term to Maturity (years) 3.9 4.0 Average Cost of Debt3 (%) 3.6 3.2 CICT’s Issuer Rating ’A3’ by Moody’s ‘A–’ by S&P ’A3’ by Moody’s⁴ ‘A–’ by S&P 1 In accordance with the Property Funds Appendix of the Code of Collective Investment Scheme (CIS code), the aggregate leverage ratio includes proportionate share of borrowings as well as deposited property values of joint ventures. As at 31 December 2025 and 31 December 2024, the total borrowings including CICT’s proportionate share of its joint ventures were S$10.7 billion and S$10.2 billion respectively. The ratio of total gross borrowings to total net assets was 66.3% and 66.0% as at 31 December 2025 and 31 December 2024 respectively. The Manager is of the view that the moderately higher aggregate leverage as at 31 December 2025 will not have a material impact on the risk profile of CICT as it is still within a manageable range below the aggregate leverage limit of 50% under the CIS code. 2 ICR is defined as the ratio of earnings of CICT Group, before interest, tax, depreciation and amortisation (excluding effects of any fair value changes of derivatives and investment properties, foreign exchange translation, non-operational gain/loss as well as share of results of joint ventures) and distributable income from joint ventures, over interest expense and borrowing-related costs, on a trailing 12-month basis. CICT did not issue any hybrid securities. 3 Ratio of interest expense over weighted average borrowings. 4 Moody’s Ratings has affirmed CICT's A3 rating with a stable outlook on 7 August 2025. CICT adopts a prudent capital management strategy, with a focus on diversifying its funding sources, including sustainable financing and extending its debt maturity profile. CICT through CMT MTN Pte. Ltd. issued S$450.0 million of unsecured green bonds in 2025. This comprised a S$150.0 million 3.088% 7-year fixed rate notes due 29 March 2032 and a S$300.0 million 2.25% 7-year fixed rate notes due 27 September 2032 issued on 28 March 2025 and 25 September 2025 respectively. The proceeds from the two green notes have been fully utilised to refinance eligible Green Buildings under CICT Green Finance Framework. More information can be found on https://www.cict.com.sg/green-finance.html. The total outstanding sustainability-linked/green loans and green bonds was S$6.8 billion as at 31 December 2025, accounting for about 63% of its total borrowings, including joint ventures' borrowings. Pursuant to the acquisition of Glory Office Trust, the Manager raised gross proceeds of approximately S$600.0 million from a private placement, which was fully disbursed in accordance with the stated use and percentage allocated as set out in the use of proceeds announcement dated 19 September 2025. On 14 January 2026, CICT entered into an agreement with an unrelated third-party for the sale of 90 strata lots in Bukit Panjang Plaza at the sale price of S$428.0 million, which was completed on
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