CapitaLand Investment Limited - Annual Report 2021

Investments by Ascott Serviced Residence Global Fund (ASRGF) Under ASRGF, Ascott acquired two properties in Paris, France and Hanoi, Vietnam for about S$210 million in June 2021. Both properties were acquired on a turnkey basis and are expected to open in 2024. The acquisition in Paris is a freehold asset which will be refurbished to introduce Ascott’s first coliving property in Europe under the lyf brand. Named lyf Gambetta Paris, the 139-unit coliving property is located in a vibrant district in the 20th arrondissement, near galleries, cinemas, trendy cafés and restaurants, street art and music venues. The acquisition in Hanoi is the 364-unit Somerset Metropolitan West Hanoi. It is located in Hanoi’s new Central Business District, close to several government agencies as well as local and international corporations. In March 2022, ASRGF also announced the acquisition of two properties in Ningbo, China and Amsterdam, the Netherlands for approximately S$190 million. The turnkey project in Ningbo consists of two residential towers whichwill open as 206-unit Somerset Hangzhou Bay Ningbo in 2025. The acquisition in Amsterdam is a rare freehold asset which will be refurbished and unveiled as 93-unit Citadines Canal Amsterdam in 2023. FY 2021 Divestments Ascott also continued to proactively reconstitute its portfolio by divesting properties to unlock capital for redeployment into higher-yielding assets. In FY 2021, it divested Somerset Xu Hui Shanghai, Citadines City Centre Grenoble and Citadines Didot Montparnasse Paris through ART and Citadines Sukhumvit 23 Bangkok above book value. DELIVERING AWARD-WINNING HOSPITALITY EXPERIENCES Ascott remains committed to continually enhancing guests’ experience across its brands to delight its guests and build brand equity amongst property owners. In June 2021, Ascott was the first hospitality company in the world to offer its guests global access to a comprehensive suite of complimentary telehealth, telecounselling and travel security advisory services through a global partnership with International SOS. Ascott launched discoverasr.com , unifying 14 lodging brands on one global online travel booking platform in August 2021. discoverasr.com provides guests with one-stop access to Ascott’s serviced apartments, coliving spaces and hotels across more than 130 cities in over 30 countries. Members of Ascott’s loyalty programme, Ascott Star Rewards (ASR) continue to enjoy a slew of perks, from the ASR points purchase feature and promotions where members can purchase ASR points and be rewarded with bonus points; to the ASR Elite Status Match and CapitaStar-ASR Points Exchange programmes that allow ASR members to gain more benefits or upgrade their membership tier. Ascott also upgraded its Discover ASR mobile app to offer a range of new features including allowing members to purchase ASR points, earn ASR points if they opt out of housekeeping service as part of Ascott’s Go Green initiative, as well as performmobile check-in and check-out. Members staying with Ascott can access the in-app social wall and private messaging features which allow them to interact with fellow guests or communicate privately with the serviced residence’s front desk. Members are also able to purchase vouchers via the app for their next stay. As Ascott grows its business, it will continue to innovate and evolve its products and services to uncover additional revenue streams and deliver greater value to its customers, property owners and capital partners. FY 2021 Performance Review BUSINESS PERFORMANCE Ascott also continued to proactively reconstitute its portfolio by divesting properties to unlock capital for redeployment into higher-yielding assets. FY 2021 Performance Review BUSINESS PERFORMANCE CLI owns and manages a geographically- and sector-diversified real estate portfolio, with a focus on Asia. Our core markets — Singapore, China and India —make up nearly 80% of CLI’s assets. We also have an expanding presence in key gateway cities in Asian markets such as South Korea and Japan, as well as international markets comprising Australia, Europe and USA. Together, they provide balance and diversity to CLI’s portfolio, strengthening our resilience. Our integrated suite of real estate capabilities, extensive footprint and decades of experience give us a sustainable competitive edge to move swiftly to originate fund products and source from our pipeline assets for fund vehicles. More than 70% of our real estate portfolio is managed through our comprehensive and expanding funds platform, which gives CLI sustainable fee-based income. Through our stakes in our fund vehicles, we also participate in the growth of these assets. Singapore 40.5 33% 36.3 42% RE AUM (S$’B) 19.6 25.7 24.3 13.6 39.4 % OF TOTAL 16% 21% 20% 11% 32% FUM (S$’B) 16.7 23.9 22.3 13.8 8.9 % OF TOTAL 19% 28% 26% 16% 10% China 44.9 36% 27.8 32% India 3.8 3% 4.0 5% Other Asia 15.6 13% 6.3 7% International 5 18.1 15% 11.3 14% RETAIL RE AUM 3 (S$’B) FUM 4 (S$’B) % OF TOTAL % OF TOTAL NEW ECONOMY¹ INTEGRATED DEVELOPMENTS OFFICE LODGING² >80% of Assets Under Management are in Asia RE AUM S$123B (FY 2020: S$115B) FUM S$86B (FY 2020: S$78B) CLI’s Core Markets 1 Includes business parks, industrial, logistics and data centres. 2 Includes multifamily. 3 Includes residential and commercial strata which comprises 0.3% of total RE AUM and not reflected in chart. 4 Includes residential and commercial strata as well as structured credit FUM, which comprises ~1% of total FUM and not reflected in chart. 5 Includes Australia, Europe, UK and USA. Supported by a best-in-class in-house operating platform, CLI’s over 1,000 properties¹ globally benefit from the Group’s leasing and property management expertise, longer-stay lodging operating expertise, as well as digital platforms such as the CapitaStar Rewards Programme and Payment Platform app, and the Ascott Star Rewards and Discover ASR mobile app. 1 Includes managed properties. REAL ESTATE INVESTMENT BUSINESS Annual Report 2021 45 CapitaLand Investment Limited 44