CapitaLand Integrated Commercial Trust : EGM Presentation

2023 Extraordinary General Meeting

Proposed Entry into New Singapore Property Management Agreement

19 April 2023

Disclaimer

This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other developments or companies, shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training, property operating expenses), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business.

You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management regarding future events. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither CapitaLand Integrated Commercial Trust Management Limited ("Manager") nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation.

The past performance of CapitaLand Integrated Commercial Trust ("CICT") is not indicative of future performance. The listing of the units in the CICT ("Units") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST.

This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.

Capitalised terms not otherwise defined herein shall bear the meaning ascribed to them in the circular to unitholders ("Unitholders") of CICT dated 22 March 2023 (the "Circular").

Capi t aLand I nt egr at ed Com m er ci al Tr ust

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Table of Content

04

Overview of the New Singapore

Property Management Agreement

("New SG PMA")

07

Reasons to vote in favour of the New

SG PMA

12

Advice of the IFA

Recommendation of the Independent

Directors and Audit Risk Committee

15

Approval of Unitholders

Funan, Singapore

Overview of the New SG PMA

Raffles City Singapore

Overview of the New SG PMA

Key terms with no major changes

Key terms		New Terms(1)		Existing Terms		Remarks
Service Term	• Proposed single New SG PMA term of 10 years	• Terms of existing property	• A single New SG PMA for better efficiency and
		commencing from 1 June 2023(2)		management agreements range		alignment within CICT's Singapore portfolio
				from 5 to 10 years(2)(3)	•	Enables consolidation of resources, to achieve
						manpower cost savings
Property and	For retail properties	For retail properties	•	No change under the New SG PMA, except for
Lease
•	2.0% per annum of the property income of the	•	2.0% per annum of the gross		adopting same definition for alignment purpose
Management
Fees		property; and		revenue of the property; and
	•	2.0% per annum of the net property income (before	•	2.0% per annum of the net
		the property and lease management fees accounted		property income of the property
		for under this bullet point) of the property	For office properties
	For office properties	•	3.0% per annum of net property
	•	3.0% per annum of net property income of the		income of the property
		property

Notes:

1. Unitholders should refer to paragraph 2 of the Circular for further details on the key terms of the New SG PMA.
2. There are 4 existing property management agreements in relation to the Singapore Properties that are in force and effect, with expiry dates on 31 May 2023 or 1 March 2024 (Please refer to paragraph 2.4 of the Circular for details). In approving the Resolution in relation to the entry into the New SG PMA, Unitholders are deemed to have approved the termination of the Relevant Existing Property Management Agreements, which have expiry dates on 1 March 2024.
3. Exclude extensions of these property management agreements.

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