CapitaLand Investment Limited - Annual Report 2021

India FY 2021 Operating Performance The operating performance in China remained resilient in FY 2021 despite sporadic lockdowns and restrictions by the Chinese Government across various areas and cities to deter the spread of COVID-19. The safety of our tenants, customers and employees remains our priority and we continue to take the Government’s directives on safe distancing measures, including shortening mall operating hours, temporary closures of certain trades or activities in our shopping malls that are more susceptible to transmissions, and general crowd control measures. Our offices and new economy assets were less impacted. On a full-year basis, CLI registered a healthy year-on- year increase in shopper traffic and tenant sales on a same-mall basis. This translated to higher total NPI for the year despite a dip in 4Q 2021 due to a surge in COVID-19 transmissions that led to the stricter social distancing measures being imposed. A total of approximately 1,400 new leases were signed across the retail portfolio, with more than 600 new brands introduced. This has resulted in an improved tenant mix, positioning CLI ahead of evolving trends to meet the needs of today’s consumers. Tenant retentionrate rose to71%forOffice, 8percentage points higher than the year before. There was higher demand for larger space, especially from Finance and Technology, Media and Telecommunications. We also saw a high demand for fitted offices from SMEs. This provided a new avenue of growth. Over 10,000 square metres of fitted offices have been leased since their completion. We also increased activity-basedworkplace space with Bridge+, CLI branded co-working and shared spaces, grew from 15 to 26 projects in 2021. The new economy asset class has remained resilient, registering an improvement in NPI on a year-on-year basis. In October 2021, CapitaLand China Trust (CLCT) made its first foray into China logistics, acquiring four properties in Shanghai, Kunshan, Wuhan and Chengdu, further diversifying CLI’s portfolio in China. CLI’s India presence spreads across six key cities: Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai and Pune. Our portfolio is largely made up of International Tech (IT) parks and logistics space, one of India’s most dynamic and attractive sectors. Having started India’s first IT park in Bangalore through Ascendas 28 years ago, CLI is recognised as one of the best-in-class business space real estate players in the country. Key Transactions in FY 2021 Phase 1 of Data Centre Campus in Navi Mumbai Ascendas India Trust (a-iTrust) made its first foray into data centres by investing in a greenfield site to build a data centre campus in Airoli, a growing DC hub in Navi Mumbai. Phase 1 (the first building with a built- up area of about 325,000 square feet) is expected to be ready by 3Q 2024 and will be one of the largest DC campuses in Airoli. Artist’s impression of the Data Centre at Navi Mumbai China FY 2021 Total Investments S$698 million FY 2021 Performance Review BUSINESS PERFORMANCE FY 2021 RMB 163.5 billion Portfolio value¹ 63 Number of properties 6.3 million sqm Gross floor area (excludes lodging assets and carpark area) PORTFOLIO SNAPSHOT 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 91 92 90 152 93 150 149 144 94 147 NEW ECONOMY 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 RETAIL 90 90 92 879 94 886 782 800 94 877 Shopper Traffic +16% YoY Tenants’ Sales (per sqm) +6.9% YoY OFFICE 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 84 85 85 377 88 378 382 339 88 389 Retention Rate 71% (+8pp YoY) NPI (RMB million) Occupancy (%) FY 2021 Investments Value (S$ million) Entity aVance 6, HITEC City in Hyderabad 92.0 a-iTrust Industrial facility at Mahindra World City in Chennai1 38.3 a-iTrust 1.65 million sq ft of an IT Park at Hebbal in Bangalore1 268.2 a-iTrust Phase 1 of data centre campus in Navi Mumbai (Development)2 216.6 a-iTrust Building Q1, Aurum Q Parc in Navi Mumbai 64.1 a-iTrust 80.8 acres of land at Farrukhnagar in National Capital Region 18.5 Ascendas India Logistics Fund 1 Signed conditional Share Purchase agreements for acquisition of properties. Completion of acquisition is subject to fulfilment of certain Conditions Precedent. Figures indicated are estimated purchase considerations based on certain pre-agreed formula. 2 Estimated total development cost. 1.65 million sq ft of IT Park at Hebbal in Bangalore a-iTrust entered into a forward purchase agreement with Gardencity Realty Private Limited to acquire two buildings in an IT Park with a total net leasable area of up to 1.65 million square feet located at Hebbal, Bangalore. a-iTrust will also provide funding for the development of the project as part of the forward purchase arrangement. FY 2021 Transactions 1 Refers to total sum of CLI’s owned properties’ valuations as at 31 December 2021. Annual Report 2021 53 CapitaLand Investment Limited 52