#1Capald 1111 CapitaLand CapitaLand Limited Financial Year 2013 Results "Moving Into 2014 With Confidence" 19 February 2014#2✓ Disclaimer This presentation may contain forward-looking statements that involve risks and uncertainties. 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 companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, 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 current view of management on future events. 2 CapitaLand Limited FY 2013 Results CapitaLand#33 ✓ Contents . Financial Highlights ● • . ● . Achievements In 2013 Business Highlights Financials & Capital Management Focus For 2014 Conclusion Q&A CapitaLand CapitaLand Limited FY2013 Results#44 Financial Highlights ✓ Overview 4Q 2013 Revenue EBIT (1) (excl. one-off ALZ loss) S$1,085.1 S$516.9 million 2% YOY million 11% YoY EBIT S$396.1 million 32% YOY PATMI (1) (excl. one-off ALZ loss) S$263.7 million 0.4% YoY PATMI S$142.9 million 46% YOY Note (1) Excludes one-off loss on divestment of 20% stake in Australand of S$120.8 million CapitaLand CapitaLand Limited FY 2013 Results#5Financial Highlights ✓ Overview (Cont'd) FY 2013 Revenue EBIT (1) (excl. one-off ALZ loss) S$3,977.5 S$1,918.8 million 21% YOY million 5%YOY EBIT S$1,798.0 million 11% YOY PATMI (1) (excl. one-off ALZ loss) S$970.6 million 4% YOY PATMI S$849.8 million 9% YOY 5 Note (1) Excludes one-off loss on divestment of 20% stake in Australand of S$120.8 million CapitaLand Limited FY 2013 Results CapitaLand#66 Financial Highlights ✓ Overview (Cont'd) • • Strong Operating Performances By SBUS Lower PATMI due to one-off losses and higher impairments - - Impairments (S$165 million) Divestment of 20% stake in Australand (S$121 million) Repurchase of convertible bonds (S$31 million) Significant improvement in FY 2013 operating PATMI, which was 43% higher at S$527.7 million - Operating profits account for 62% of total PATMI FY2013 PATMI is S$970.6 million (4% ↑) excluding one-off Australand divestment loss. Including one-off Australand divestment loss, FY2013. PATMI is S$849.8 million CapitaLand Limited FY 2013 Results CapitaLand#7Financial Highlights ✓ Overview (Cont'd) • • Balance Sheet Strength Significant improvements in balance sheet and key coverage ratios - Net debt reduced from S$8.7b to S$6.7b - Net Debt/Equity improved from 0.45x to 0.34x - Interest servicing ratio (ISR) improved from 3.3x to 5.0x - Interest coverage ratio (ICR) improved from 5.5x to 6.0x1 Attributed to repurchase of convertible bonds and deconsolidation of Australand in 2013 Note (1) Excludes one-off loss on divestment of 20% stake in Australand of S$120.8 million CapitaLand Limited FY 2013 Results CapitaLand#88 00 Financial Highlights ✓ Group Group Assets (As at Dec 2013) S$32.9 billion¹ 83% of Group's Assets in Singapore & China * (1) Excludes treasury cash *kak China including Hong Kong Excludes Singapore & China and includes projects in GCC *** Includes Australand, Surbana (Consultancy), StorHub, Financial Services and other businesses in Vietnam, Japan, and GCC Corporate & Others*** TAL S$3.7b, 11% S$2.7b, 9% CMA S$11.3b, 34% By SBU CLC S$9.0b, 27% CLS S$6.2b, 19% Other Asia** S$2.9b, 9% Europe & Others S$1.3b, 4% Australia S$1.3b, 4% By Geography CapitaLand Limited FY2013 Results Singapore S$12.5b, 38% China* S$14.9b, 45% CapitaLand#9Financial Highlights ✓ Group EBIT (FY 2013) * China including Hong Kong ** S$1.8 billion 88% of Group's EBIT from Singapore & China Excludes Singapore & China and includes projects in GCC *** Includes Australand, Surbana (Consultancy), StorHub, Financial Services and other businesses in Vietnam, Japan, UK and GCC TAL Corporate & Others* S$116.0m, 6% S$72.0m, 4% CMA S$743.8m, 41% By SBU *** CLS S$478.5m, 27% CLC S$387.7m, 22% Australia S$89.2m, 5% Europe &Others S$46.2m, 3% China* S$735.1m, 41% Other Asia** S$79.6m, 4% By Geography Singapore S$847.9m, 47% CapitaLand CapitaLand Limited FY2013 Results#1010 Financial Highlights A Well-Diversified Portfolio In Singapore & China Singapore Assets - S$12.5 billion (38% of Group's Total Assets*) Retail 42% Serviced Others Residences 1% 7% Residential 32% Commercial & Mixed Development 18% Retail 32% China Assets - S$14.9 billion (45% of Group's Total Assets* Serviced Others Residences 6% 1% O Residential 34% Commercial & Mixed Development 27% * Excluding treasury cash Well-balanced To Ride Through Cycles CapitaLand Limited FY2013 Results CapitaLand#11Achievements In 2013 The Orchard Residences, Singapore#1212 Achievements In 2013 ✓ Streamlined Organisation 4 Core Businesses; 2 Core Markets, 6 City Clusters CapitaLand Singapore¹ China Residential . Residential Commercial • • Office • CCT . Mixed-use CMA Ascott Shopping Malls • . CMT Serviced Residences • CRCT • ART • CMMT • • Developments Focus on 2 core markets - Singapore and China 6 city clusters - Singapore; Beijing-Tianjin; Shanghai-Hangzhou- Suzhou-Ningbo; Chengdu-Chongqing; Guangzhou-Shenzhen; Wuhan Note (1): Includes residential, commercial and mixed-use developments in Singapore and Malaysia CapitaLand Limited FY 2013 Results CapitaLand#1313 . • Achievements In 2013 Streamlined Organisation (Cont'd) 2nd Order Integration: Completed Consolidation Of Residential Businesses In China CapitaLand CapitaLand China CapitaLand China Residential Projects Former CapitaValue Homes Projects CapitaLand Township Projects Able to build scale - 28 residential projects, total pipeline of >65,000 units and GFA of >7million sq m Opportunities for economies of scale and bulk purchase CapitaLand Limited FY2013 Results CapitaLand#1414 Achievements In 2013 ✓ Focused On Integrated/ Mixed-Use Developments Harnessing CL's Core Competencies Across Asset Classes Datansha Island, Guangzhou Located in the western part of downtown Guangzhou with land area of 3.55km Target to complete Phase 1A land acquisition and commence construction by 2Q 2014 and 4Q 2014 respectively . Hanzhonglu, Zhabei District Shanghai Completed acquisition in December 2013 • Target to commence construction Plot 92 (residential site) by 3Q 2014 Danga Bay, Malaysia Premier waterfront residential community comprising high rise and landed homes with a central waterfront hub with a marina, shopping mall, F&B outlets, serviced residences, offices and recreational facilities CapitaLand Limited FY 2013 Results CapitaLand#15wwwwwwwwww Achievements In 2013 ✓ Driving Operational Performance Focused On Operational Excellence And Execution Right-sizing of apartments → Increase asset churn rate - - Eg. Sky Vue which sold 86% of the launched units in September 2013, top selling project for that month and top 15 best selling private housing projects in 2013 As of December 2013, 479 units have been sold Reduce time to market 15 - Eg. Prime residential in Sunjia, Jiangbei District, Ningbo - Plan to build small and medium-sized units to cater to first time home buyers and upgraders Construction to commence in 3Q 2014 and first phase to launch by 2015 CapitaLand Limited FY 2013 Results Sky Vue Ningbo Residential Site Cap/taLand#1616 • Achievements In 2013 Driving Operational Performance (Cont'd) Setting up of Innovation Hub - - - Quick prototyping of new ideas to maintain an innovative edge in our projects To test new ideas and improve on product design and functionality in order to enhance overall customer experience To study modular furniture systems and prefabrication to reduce renovation downtime for asset enhancement works Retail Innoworks Experiment Space To Test New Apartment Prototypes And Brand Standards CapitaLand Limited FY 2013 Results CLS InnoHub#1717 Achievements In 2013 ✓ Active Reconstitution Of Portfolio (A) Opportunistic Divestments Divestment of Westgate Tower. Net gain of S$90 million (based on CL Group's effective stake) Divestment of 81 units in Somerset Grand Fortune Garden, Beijing (B) Sale Of Non-core Assets . Sale of Technopark@Chai Chee for S$193 million Sale of entire indirect one-third interest in investment properties in the UK. Portfolio gain of S$16.4 million (C) Create Value In Our Key Investments Sale of 20% stake in Australand Acquisition of Big Orange in April 2013 Strengthen Vietnam business Westgate Tower Somerset Grand Fortune Garden CapitaLand Limited FY 2013 Results 750 to 750E Chai Chee Road#1818 ✓ Achievements In 2013 Improving Capital And Organisational Efficiency Reduced Financing Costs Two CB repurchasing exercises in 2013. Shaved off maturity towers in 2015 and 2016; extended maturities >S$35 million per annum in interest savings going forward Improving Organisational Effectiveness Further streamline of next-level organization, resource re-deployment, work consolidation and process improvement Achieved savings of 9% from 2012 CapitaLand Limited FY 2013 Results CapitaLand#1919 Achievements In 2013 ✓ Building A Sustainable Future • Key Awards Received For Sustainability Efforts 2012 to 2014 Global 100 Most Sustainable Corporations • Sustainability Yearbook 2012-2014; Top 15% performing ESG companies ⚫Listed in the Dow Jones Sustainability World Index & Asia Pacific Index since 2009 ⚫ Global Sector Leader 'Diversified' property section & Regional Sector Leader for Asia Corporate Social Responsibility Efforts Key Initiatives in 2013 include: - CapitaLand Volunteer Day 2013 拔 GLOBAL100 Dow Jones Sustainability Indexes GRESB - My Schoolbag - Kid's Food Fund - International Volunteer Expedition to Sichuan and Manila CapitaLand Limited FY 2013 Results CapitaLand Volunteer Day 2013 CapitaLand#20Business Highlights - CapitaLand Singapore ION Orchard, Singapore#2121 CapitaLand Singapore - Residential ✓ New Record Residential Sales Performance Significantly De-Risked Portfolio Residential Units 1,200 1,000 85% Y-o-Y 1,260 109 468 800 681 600 139 352 400 70 544 200 0 202 57 FY 2012 FY 2013 Sales Value (S$ million) 2,500 2,000 84% Y-o-Y 2,443 3Q 240 2Q 야야야야 4Q 1Q 560 1,500 1,310 368 1,000 677 1,275 500 166 379 88 FY 2012 FY 2013 Limited Exposure - Residential Inventory Stock (Based On Effective Stake) At ~10% Of CapitaLand's Total Assets CapitaLand Group FY2013 Results CapitaLand#22CapitaLand Singapore - Residential ✓ More Units Delivered In FY2013 1,269 Units In FY2013 VS. 186 Units In FY2012; More Than 5 Times • Mainly due to 3 projects - Urban Suites, Urban Resort Condominium and The Interlace which obtained TOP in 2013 22 22 Urban Suites The Interlace Urban Resort Condominium CapitaLand Limited FY2013 Results CapitaLand#2323 CapitaLand Singapore - Residential ✓ Key Projects Completing In 2014 • 3 Projects Are Targeting Completion In 2014 TOP for d' Leedon, Bedok Residences and The Nassim expected in 2H 2014 d'Leedon Bedok Residences CapitaLand Limited FY2013 Results The Nassim CapitaLand#2424 CapitaLand Singapore - Residential ✓ Healthy Project Pipeline • Approximately 1,600 Units (2.8 Million sq ft GFA) Snapshot Of Key Projects: Launched projects The Interlace d'Leedon Sky Habitat Sky Vue : 186 : 280 : 328 : 215 Sky Vue Future project launches Marine Parade : 124 Cairnhill : 268 Landed development : 109 @ Coronation Road • Continue to replenish landbank through - Participation in GLS tenders and private sales CapitaLand Limited FY2013 Results Sky Habitat CapitaLand#25CapitaLand Singapore - Commercial Stable Performance With Recovery In Office Rents High Committed Portfolio Occupancy office portfolio rent Grade A properties CCT's monthly average Portfolio occupancy 98.7% 98.4% 1.5% from Dec 2012 2.0% from Dec 2012 S$8.13 psf 6.4% (Dec 2012 :S$7.64 psf) Upward Trend Of Monthly Average Office Rent Of CCT's Portfolio (1) $8.64 $8.73 $7.94 $7.84 $7.79 $7.66 $7.45 $7.39 $7.53 $7.64 $7.83 $7.96 $8.03 $8.13 Average rent per month for office... 25 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Note (1): Average rent per month for office portfolio (S$psf) = Total committed gross rent for office per month / Committed area of office per month CapitaLand Limited FY2013 Results CapitaLand#2626 CapitaLand Singapore - Commercial ✓ Update On Capita Green Only Grade A Office Tower In CBD Completing In 2014 • • Construction on schedule and expected completion in end 2014 Facade installation up to 11th storey on 7Jan 2014 40-storey iconic landmark with over 55% of its façade covered by greenery, offering 700,000 sq ft of column-free lettable area Well-timed to benefit from lack of new office supply in 2015 and uptick in office market rents CapitaGreen - View From Junction Of Cross St And Market St CapitaLand Limited FY 2013 Results CapitaLand#27Business Highlights CapitaLand China Raffles City Beijing, China#2828 Residential Units CapitaLand China - Residential Residential/Trading Performance In 2013 Including CL Township Projects, Total Units Sold Increased by 16% ↑ 16% Y-o-Y 9,000 7,688 8,000 6,611 7,000 6,000 4,679 5,000 3,450 4,000 Sales Value (RMB million) 7% Y-o-Y 10,000 9,219 8,542 8,000 2,224 3,053 6,000 4,000 3,000 6,995 5,489 2,000 3,161 2,000 3,009 1,000 0 0 FY 2012 FY 2013 FY 2012 FY 2013 CLC ■CL Township ■CLC CL Township Note: Units sold includes options issued up to 31 Dec 2013 CapitaLand Limited FY 2013 Results CapitaLand#29Residential Units CapitaLand China - Residential ✓ Higher Revenue Recognition In 2013 Increase In Total Number Of Units Handed Over 192% Y-o-Y 8,365 9,000 8,000 7,000 6,000 5,165 4,357 5,000 4,000 Sales Value (RMB million) 3,000 2,362 2,000 1,000 3,200 1,995 1142% Y-o-Y 11,242 12,000 10,000 3,107 8,000 6,000 4,652 4,000 1,689 8,135 2,000 2,963 0 0 FY 2012 FY 2013 FY 2012 FY 2013 ■CLC ■CL Township ■CLC ■CL Township Note: Units sold includes options issued up to 31 Dec 2013 29 CapitaLand Limited FY 2013 Results#30CapitaLand China - Residential ✓ Successful Residential Launches In 4Q 2013 The Loft, Chengdu - Launched Blk 23 (188 units) Sold 82% of 1,219 launched units in FY 2013. Sales value ~ RMB895m ~ Total Project - Sold - 94% of launched units / Sales value ~ RMB3.3b 三房源表 开盘销 The Metropolis, Kunshan - Launched Blk 22 (272 units) • Sold 100% of 272 launched units in FY 2013. Sales value ~ RMB334m Total Project - Sold - 99% of launched units / Sales value ~ RMB2.3b Note: Units sold includes options issued up to 31 Dec 2013 30 CapitaLand Limited FY 2013 Results CapitaLand#31CapitaLand China - Residential ✓ Healthy Pipeline Of Launched Ready Units For 2014 Target Contracted Sales Expected To Grow By 30% Lian Mansion, Shanghai New Horizon, Shanghai 31 Riverfront, Hangzhou Note (1): Above data includes Raffles City strata apartments and CL Township CapitaLand Limited FY 2013 Results Vista Garden, Guangzhou CapitaLand#3232 CapitaLand China - Residential ✓ Residential Handover in 2014 More Than 8,000 Units Expected To Handover; ~ 60% Of The Units Expected To Be Handed Over Are Sold The Loft, Chengdu Imperial Bay, Hangzhou The Metropolis, Kunshan Note (1): On a 100% basis Above data includes Raffles City strata apartments, and CL Township CapitaLand Limited FY 2013 Results La Cite, Foshan CapitaLand#33CapitaLand China - Raffles City ✓ Raffles City Portfolio Huge Potential As ~ 75% Of The CFA Remains To Be Completed Raffles City Shanghai, 165 Raffles City Chongqing, 1,134 Raffles City Shenzhen, 401 Raffles City Beijing, 138 Raffles City Chengdu¹, 308 Operational Raffles City Ningbo, '000 sqm 157 Raffles City Changning, 363 Raffles City Hangzhou, 393 • 8 Raffles Cities with a construction floor area of 3.1 million sq m. Note (1): For Raffles City Chengdu, only retail and office components are in operation 33 CapitaLand Limited FY 2013 Results CapitaLand#3434 CapitaLand China - Raffles City Raffles City Portfolio (Cont'd) Well-diversified Across All Asset Classes Strata / Trading, 32% Serviced Residence/ Hotel, 12% Based On GFA Retail, 35% Office, 21% CapitaLand Limited FY 2013 Results CapitaLand#35CapitaLand China - Raffles City Raffles City Portfolio (Cont'd) CapitaLand Group's Direct Stake In Raffles City Projects CLC Effective CMA's Effective Completed Projects Stake 1 (%) Stake (%) Others 2 (%) Raffles City Shanghai 22.3 8.4 69.3 Raffles City Beijing 40.0 15.0 45.0 Raffles City Ningbo 40.0 15.0 45.0 Projects Under Development Raffles City Chengdu³ 40.0 15.0 45.0 Raffles City Hangzhou 40.0 15.0 45.0 Raffles City Changning 25.6 17.1 57.3 Raffles City Shenzhen 73.0 27.0 Raffles City Chongqing 31.34 31.34 37.4 Note (1): CapitaLand Group's direct stake held 100% through CapitaLand China (2): Other third party shareholders (3): Partially operational in 2013 (4): Based on the legal stake as of 31 December 2013 35 CapitaLand Limited FY 2013 Results CapitaLand#36CapitaLand China - Raffles City ✓ Update On Stabilised Assets Raffles City Shanghai • Full committed occupancy for retail. • mall and -98% for office tower Asset Enhancement Initiatives underway, reconfiguration of retail shop space • FY 2013 NPI yield on cost ~17 % Raffles City Beijing • Stable performance • - Committed occupancy of 100% for retail mall and office tower - Over 90% occupancy for serviced residences New brands & trade remix in 4Q 2013 • FY 2013 NPI yield on cost ~13% 36 Note: Occupancy rate as at 31 Dec 2013 CapitaLand Limited FY 2013 Results Effective Marcom Activities e Plaza New Tenants; Brands Include Crocs, Eplaza, Jazz. Ya, Jack & Jones CapitaLand#37CapitaLand China - Raffles City ✓ Update On Newly Operational Assets mot 12/21 疯狂 Raffles City Chengdu • Over 98% committed occupancy for retail mall - Average traffic ~700,000 shoppers per month • T2 Office committed occupancy over 60%; T1 Office commenced leasing during 4Q 2013. Ascott Raffles City Chengdu ("ARCC") opened during 4Q 2013, with December occupancy over 48% on available units. ARCC awarded "China's Outstanding Serviced Apartment of 2013" 16 MENORD 蓉耀绽放 雅致共赏 成都雅诗阁来福士开业酒会 Ascott Raffles City Chengdu Soft Opening Celebration 嘉宾強烈 小时 CRAZY RIGHT HOURS 凤廷五级送 Crazy 8-hour Marcom activities of RCC 37 Note: Occupancy rate as at 31 Dec 2013 CapitaLand Limited FY2013 Results Opening of ARCC CapitaLand#38CapitaLand China - Raffles City . Update On Newly Operational Assets (Cont'd) Raffles City Ningbo Stable performance of retail mall - Committed occupancy of 97% - Opening of supermarket has boosted sales and shopper traffic. (~500,000 shoppers per month) still that Well-received Special Promotional Events Growing occupancy for office tower - Committed occupancy over 78% - Mix of domestic as well as international tenants 38 Note: Occupancy rate as at 31 Dec 2013 CapitaLand Limited FY2013 Results CapitaLand#39Splaza Singapura Business Highlights - CapitaMalls Asia FM-lewin EAS PAK Plaza Singapura, Singapore#4040 CapitaMalls Asia ✓ Operational Updates Strong Financial Performance Operating PATMI Total PATMIT EPS 4Q 2013 S$60.9 mil (+54.9%) S$216.4 mil (+17.1%) 5.6 Singapore cents (+16.7%) FY 2013 S$246.3 mil (+40.1%) S$600.0 mil (+9.9%) 15.4 Singapore cents (+10.0%) Steady Sales Growth in Key Markets For FY2013 Tenants' sales Shopper traffic Same mall NPI Singapore China +3.2% per sq m +13.2% total tenants' sales² +10.1% per sq m +2.4% +4.5% +2.2% +13.1% Note (1): Total PATMI for 4Q 2013 includes: Operating PATMI of S$60.9 mil, Portfolio Gain of S$5.1 mil and Revaluation Gain of S$150.4 million Total PATMI for FY 2013 includes: Operating PATMI of S$246.3 mil, Portfolio Gain of S$25.3 mil and Revaluation Gain of S$328.4 million (2) On a same-mall basis CapitaLand Limited FY2013 Results CapitaLand#41CapitaMalls Asia Shopper Traffic & Tenants' Sales YTD Dec 2013 Malls opened NPI Yield (%) Committed Shopper before on Valuation¹ 1 Jan 2012 Occupancy Rate (%)² Traffic FY 2013 vs. FY 2012 (%)* Tenants' Sales (on a per sq ft or per sq m basis) Singapore 5.8 99.3 +2.4% +3.2% +10.1% China 5.4 97.3 +2.2% (excl. Tier 1 cities: 11.0%) Malaysia 6.8 97.8 (2.5%) Japan 5.8 96.9 +3.4% +6.0% India 4.7 86.83 +6.1% +4.4% Coch XV NO Note: The above figures are on a 100% basis, with the NPI yield and occupancy of each mall taken in their entirety regardless of CMA's interest. This analysis takes into account all property components that were opened prior to 1 Jan 2012. (1) Average NPI yields based on valuations as at 31 Dec 2013. (2) (3) Average committed occupancy rates as at 31 Dec 2013. Excluding Serviced Apartment Component 41 * Notes on Shopper Traffic and Tenants' Sales: Singapore: Excludes Bugis Junction (which is undergoing AEI), JCube, The Star Vista, Bugis+, The Atrium@Orchard and Hougang Plaza, China: Excludes 3 master-leased malls under CRCT. Excludes tenants' sales from supermarkets and department stores. Excludes CapitaMall undergoing AEI. Malaysia: Point of sales system not ready. Japan: For Vivit Minami-Funabashi and Chitose Mall only. CapitaLand Limited FY 2013 Results#42CapitaMalls Asia ✓ Same-Mall NPI Growth (100% basis) KTO WALKER 42 Local Country Currency FY 2013 FY 2012 Change (%) (mil) Singapore¹ SGD 6894 659 +4.5% China² RMB 2,239 1,980 +13.1% Malaysia MYR 264 243 +8.7% Japan³ JPY 1,789 1,732 +3.2% India INR 193 176 +10.1% #001 Note: The above figures are on a 100% basis, with the NPI of each mall taken in its entirety regardless of CMA's interest. This analysis compares the performance of the same set of property components opened prior to 1 Jan 2012. (1) Excludes JCube, which was opened in Apr 2012, The Star Vista, which opened in Sep 2012, Bugis+, which underwent AEI until Jul 2012, The Atrium@Orchard, which underwent AEI until Oct 2012, and Hougang Plaza, which was divested by CMT in Jun 2012. 231 Excludes CapitaMall Minzhongleyuan, which is undergoing AEI. Excluding CRCT, NPI grew by 15.0%. Excludes Olinas Mall, the acquisition of which by CMA was completed in Jul 2012. Includes one-off write-back of S$1.8 million provision of property tax that was no longer required. CapitaLand Limited FY 2013 Results CapitaLand#43CapitaMalls Asia ✓ China: Strong Growth in NPI Yields of Operational Malls Total tenants' sales growth of +13.2% and +10.1% on psm basis Year of Opening Number Cost (100% NPI Yield on Cost (%) Effective (100% basis) Yield Improvement Tenants' Sales (psm) Growth' of Malls basis) Stake FY FY FY 2013 (RMB bil) 2013 2012 vs. FY 2012 FY 2013 vs. FY 2012 20052 4 1,214 57.9% 5.5 5.1 +7.3% +9.4% 20063 8 2,990 43.5% 9.8 8.8 +10.9% +4.0% 2007 2 1,829 28.5% 9.9 9.4 +4.8% +11.0% 2008 5 2,951 32.4% 7.7 6.7 +14.6% +16.6% 2009 8 3,933 26.6% 8.1 6.8 +18.5% +9.5% 2010 6 2,512 41.8% 4.0 3.4 +18.4% +9.2% 2011 3 9,234 65.0% 4.4 3.9 +15.4% +18.5% YTD Dec 2013 NPI Yield on Cost China Portfolio4 7.1% Gross Yield on Cost 12.1% (1) Tenants' sales are on a same-mall basis (100%) and exclude sales from supermarkets and department stores. (2) Excludes Raffles City Shanghai. (3) Excludes malls under or previously under master lease, namely, CapitaMall Shuangjing, CapitaMall Anzhen, CapitaMall Erqi and CapitaMall Saihan. (4) For property components that were opened before 1 Jan 2012. 43 CapitaLand Limited FY 2013 Results CapitaLand#44CapitaMalls Asia New Malls That Opened In 2013 - Singapore Singapore: Westgate • Opened on 2 December with ~90% occupancy • 3.4 million shopper traffic in opening month CAMCHINE New to Market Brands GLOBAL WORK colette ろばたろばた ROBATA ROBATA Japanese Dining Buffet きのした きのした SINCE 1989 SINCE 1989 POLICE YVES ROCHER AURORA 2 FRANCE WILD HuangJiHuang DERMA CENTER The-Sauce Simmer Pol 44 CapitaLand Limited FY 2013 Results CapitaLand#4545 CapitaMalls Asia ✓ New Malls That Opened In 2013 - Singapore • Singapore: Bedok Mall Opened on 3 December 2013 with full occupancy 1.4 million shopper traffic in opening month New to Market Brands bedok 3mall greendot SCALLOP-Q 士林干貝燒 Roem 純 ① 壽司 JUNSHIN Express Pte Ltd refresh) GROUP THE WING WING STOP relax. restore. rejuvenate OTTOMAN KEBAB & GRILL PHO STREET SEMBONIA PERT GUAN CHEE PARK 백'S비빔밥 BIBIMBAP CapitaLand Limited FY 2013 Results CapitaLand#46CapitaMalls Asia ✓ New Malls That Opened In 2013 - China CapitaMall Meilicheng, Chengdu CapitaMall Jinniu (Phase II), Chengdu Am Opened on 28 Apr, >98% committed ~5% yield after 1st year of operation • Opened on 29 Sep, >93% committed ~7% yield after 1st year of operation 46 Note: (1): Occupancy rate is for both Phase 1 and Phase 2 of CapitaMall Jinniu CapitaLand Limited FY 2013 Results CapitaLand#47CapitaMalls Asia ✓ New Pipeline Projects - Project Jewel, Singapore Iconic Integrated Lifestyle Development At Changi Airport • 49:51 joint venture with Changi Airport Group - ~1,443,000 sq ft of total GFA1 - ~$S1.47 bil expected total project - development costs Targeted opening by end-2018 • To serve tourists, airport passengers and Singaporeans with exciting and distinctive retail offerings. • Exclusive landmark project to attract and introduce new-to-market retailers and concepts Artist Impression (subject to change) Artist Impression (subject to change) 47 Note: (1): Total GFA includes retail (~969,000 sq ft), facilities for airport operations (~185,000 sq ft), indoor gardens and attractions (-238,000 sq ft) and hotel (~51,000 sq ft) CapitaLand Limited FY 2013 Results CapitaLand#48CapitaMalls Asia ✓ New Pipeline Projects - CapitaMall SKY+, 48 Guangzhou, China Attractive Landmark Shopping Mall In Guangzhou; Strategic Entry Into First-Tier City In South China • Strategic location in core commercial centre of Baiyun District • Differentiated retail offerings for under-served shoppers and retailers • ~RMB2,646 million expected total investment cost • . Targeted phased opening from 4Q 2014, with 4-5% yield after 1st year of opening Build scale in Guangzhou Artist Impression (subject to change) CapitaLand CapitaLand Limited FY 2013 Results#49Business Highlights The Ascott Limited ASCOTT GALE ASCOTT HUAI HAI ROAD SHANGHA Ascott Huai Hai Road Shanghai, China#50The Ascott Limited ✓ Stable Operational Performance • . (A) Overall RevPAU Increased 3% To S$120 In FY2013 Growth across China (+6%) and Europe (+7%) 1 Hospitality management and service fee income remained stable at S$125.0 million (B) Secured Management Contracts Of 3,666 Units In FY2013, 31% Increase Y-O-Y • Secured management contracts in 7 new cities China (Nanjing, Wuxi, Hefei), Saudi Arabia, India and Thailand - Opened 1,259 new apartment units in 2013; scheduled to open 2,449 new apartment units in 2014. Ascott Ireo City Gurgaon ASCOTT Ascott Olaya Riyadh 338 W60 108 813 E 121 113 118 113 Note (1):On a same store basis 50 Ascott Central Wuxi CapitaLand Limited FY2013 Results#5151 The Ascott Limited ✓ Active Portfolio Management To Enhance Value Asset Enhancement Initiatives (AEls) To Achieve A Projected ROI Of More Than 20% Investment incurred from AEls (S$'milion) 112 58 54 Total AEls from 2012 to 2013 Completed as at 31 Dec 2013 Expected to be completed by 2014 CapitaLand Limited FY2013 Results#52The Ascott Limited ✓ Capital Recycling To Optimise Returns (A) Strata Sale Of Somerset Grand Fortune Garden By Ascott REIT - Estimated S$36.9 million¹ of net gain from the divestment - - Attractive exit cap rate Unlocking value for unit holdholders Somerset Grand Fortune Garden Beijing (B) Divestment To Ascott REIT - - Total sale consideration of 3 serviced residences in China and 11 rental housing in Japan at S$165.0 million Maiden divestment of Citadines Biyun Shanghai and Somerset Heping Shenyang by the Ascott China Fund CHINA Citadines FITEN 3 Serviced Residences JAPAN Note (1): The Ascott Limited's pro-rata stake amounts to ~$16.6 million 52 CapitaLand Limited FY2013 Results 11 Rental Properties#531 The Ascott Limited Acquisition For Future Growth Expanding Ascott's Footprint In Hong Kong. Total purchase consideration at HK$462.3 million (approximately S$74.9 million') To be reconfigured and rebranded in 2015 Conveniently located in the vicinity of Sai Ying Pun MTR that will be t Rd 50325 Good harbour view Sun Yat Sen Memorial Park Sun Yat Sen Memorial Park 中山記念公園 Community Garden 中山紀念公園 社區園圃 No. 138 Connaught Rd W... operational in 2015 • Potential upside from asset enhancement initiatives and 輔道西 bedroom apartments conversion from 1 bedroom into 2 On Ln To in Western St Walking distance to MTR 後輪道西 MTR Des Voeux Sai Ying Pun Des Voeux F 雞街 No. 138 Connaught Road West Ascott Will Continue To Seek Investment Opportunities In Key Cities In Asia And Europe Note (1): Based on HK/SG exchange rate of 0.16197 53 CapitaLand Limited FY2013 Results Ying Pun CapitaLand#54The Ascott Limited ✓ Sharpening Competitiveness Consolidating Leadership in China. Crossed the 10,000th unit milestone; on track for 12,000 units by 2015 Affirmation of leadership in China; allows Ascott to benefit from operational scale Operating & In Pipeline Units 12,000 11,000 10,000 9,000 CAGR FY2009 - YTD2013: 19.3% 12,000 65 10,086 60 56 55 8,493 50 8,016 8,000 46 45 42 40 7,000 6,351 35 6,000 34 4,987 30 5,000 26 25 4,000 20 2009 2010 2011 2012 YTD 2013 2015 Properties Units 54 Focus On Key First Tier Cities (Shanghai, Beijing, Shenzhen and Guangzhou) And High Growth Provincial Cities (Wuhan, Xi'an and Chengdu) CapitaLand Limited FY2013 Results CapitaLand#55Business Highlights O Regional Investments Mulberry Lane, Hanoi, Vietnam#5656 Regional Investments ✓ Vietnam Improved Residential Sales Good sales results as buyers' sentiment rebounds in Vietnam The Vista (120 units), Mulberry Lane (194 units) and ParcSpring (56 units) Achieved sales of more than $$ 55 million PARCSpring Parc Spring Mulberry Lane, Hanoi (Phase 1) Successfully handed over ~ 260 apartments to residents • Target to complete ParcSpring and Mulberry Lane Phase 2 in 2Q 2014 CapitaLand Limited FY2013 Results Mock Up Unit in Parc Spring CapitaLand#5757 Regional Investments ✓ Others • StorHub - - Largest Self Storage Operator in Singapore with 11 facilities and more than 10,000 self storage units Facilities undergoing upgrading works to enhance customer experience Japan - The Parkhouse Nishi Azabu sold 188 out of 191 units (98%) as at 31 December 13 StorHub self storage Refreshed Logo For StorHub Construction Progress 55% completed Reached 18th out of 24 floors CapitaLand Limited FY2013 Results CapitaLand#58Regional Investments ✓ Australand . Divestment Of 20% Stake In Australand Placement was completed at a very tight discount of 1.75% Increased Australand's free float by 50%, resulting in improved liquidity through a wider investor base and rankings uplift in major indices Improved share price performance creating value for all shareholders Additional debt headroom created during deconsolidation of Australand from CapitaLand's balance sheet Recycle capital to core markets of Singapore and China Price History Australand S&P ASX Index - ASX 200 REITS FTSE EPRA/NAREIT Index Inclusion (20 Dec) +2.7% 106 Up weight (24 Nov) 104 CL Block Trade (20 Nov) 102 100 98 96 90 94 92 20-Nov 25-Nov 30-Nov 05-Dec AMP Capital Substantial Shareholder Notice (12 Dec) BT Substantial Shareholder Notice (19 Dec) 10-Dec 58 Source: IRESS, data up to 31 January 2014. 15-Dec 20-Dec 25-Dec 30-Dec 04-Jan CapitaLand Limited FY2013 Results -3.7% 6.2% outperformance since 20 Nov 8.0% outperformance for block trade investors 09-Jan 14-Jan 19-Jan 24-Jan 29-Jan CapitaLand#59Cantaland Business Highlights Financial Products & Services H Raffles City Chengdu, China#6060 S$ Billion 42 41 Financial Products & Services Financial Products & Services Total Assets Under Management (AUM) S$ Billion 25 41.0 20 FY2013 AUM Breakdown By SBUS REITS 1 3 REITS, 6 Funds PE Funds 10.5% Y-o-Y 40 13.4 39 15 38 10 37.1 7 Funds 2 REITS 37 1 REIT, 8.2 2 Funds 5 36 7.6 7.1 3.4 1 Fund 0.1 35 0 1.2 T 2012 2013 CL CL China CMA Ascott Others Singapore Total REITs/Fund Management Fees Earned In FY2013 Are S$178.0 Million Note (1): Denotes total assets managed CapitaLand Limited FY2013 Results CapitaLand#61Financials & Capital Management One George Street, Singapore#62Financials ✓ Financial Performance for 4Q 2013 62 4Q 2012 4Q 2013 (S$'million) Change % 4Q 2013 (Ex one-off ALZ loss)¹ Change % Revenue 1,110.9 1,085.1 2 EBIT 582.8 396.1 32 516.9 11 PATMI 262.7 142.9 46 263.7 0.4 Operating Profits 110.8 190.7 72 Portfolio Gains/ (losses) 22.8 (131.2) N.M. (10.4) NM Revaluation Gains 129.1 83.4 -35 /(Impairments) 4Q 2013 Operating Profits Improved by 72% To S$190.7million; Divestment Losses Mainly Due To FCTR Losses On Sale Of 20% Stake In Australand Note (1): One-off loss on divestment of 20% stake in Australand of $120.8 million CapitaLand Limited FY2013 Results CapitaLand#63Financials ✓ Financial Performance for FY 2013 FY 2012 FY 2013 Change FY 2013 % (S$'million) (Ex one-off ALZ loss) 1 Change % Revenue 3,301.4 3,977.5 21 EBIT 2,017.4 1,798.0 11 1,918.8 5 PATMI 930.3 849.8 970.6 4 Operating Profits 369.3 527.7 43 Portfolio Gains/(losses) 199.4 (0.7) N.M. 120.1 40 Revaluation Gains 361.6 322.8 11 /(Impairments) 63 PATMI Decreased By 9% But Operating PATMI Increased By 43% Note (1): One-off loss on divestment of 20% stake in Australand of $120.8 million CapitaLand Limited FY2013 Results CapitaLand#6464 Financials ✓ PATMI Composition Analysis Operating PATMI Constitute 62% Of Total PATMI S$' million 1,100 1,000 900 800 (164.8) (19%) 487.6 57% 700 849.8 600 500 -0.7 400 527.7 300 62% 200 100 0 + Operating Profit Portfolio Loss Revaluation Gains Impairment PATMI Cap/taLand CapitaLand Limited FY2013 Results#6565 65 Financials ✓ FY 2013 PATMI Analysis Lower PATMI Due To Several One-Off Losses S$' million 1,200 (121) 1,000 (31) (165) 800 600 1,167 400 200 850 Pre-adjusted FY2013 PATMI ALZ Divestment Repurchase of 2 Convertible Bonds Impairments Reported PATMI CapitaLand Limited FY2013 Results CapitaLand#6666 Financials FY 2013 Impairments (PATMI Impact) Impairments Are On Specific Projects Other S$' Million Singapore China Aust Total Asia (1) CapitaLand China (74.7) (74.7) CapitaMalls Asia (2.0) (2.0) Ascott (27.1)³ (27.1) Corporate and Others (0.2) (13.9) 4 (14.1) Australand (46.915 (46.9) Total (0.2) (74.7) (46.9) (43.0) (164.8) FY 2012 (1.9) (14.8) (72.5) (89.2) Note (1): Excludes Singapore and China (2): Due to CL Township, Lakeside in Wuhan and International Trade Centre in Tianjin (3): Due to India projects (3 pieces of land) (4): Due to GCC projects (5): As announced on 19 November 2013 CapitaLand Limited FY2013 Results CapitaLand#67Financials ✓ Balance Sheet & Liquidity Position 67 FY 2012 FY 2013 FY 2013 (Excl one-off ALZ loss)4 Cash (S$ billion) 5.5 5.93 5.9 Net Debt/Equity 0.45 0.34 0.34 Net Debt / EBITDA¹ 3.9 3.2 3.1 Interest Coverage Ratio¹ 5.5 5.7 6.0 Interest Service Ratio 3.3 5.0 5.0 % Fixed Rate Debt 77% 69%3 69% Ave Debt Maturity (Yr)² 3.7 3.63 3.6 Robust Balance Sheet, Well-positioned To Grow Our Business Note (1): EBITDA includes revaluation gain (2): Based on put dates of Convertible Bond holders (3): Excluding Australand (ALZ), which had been deconsolidated from CL balance sheet as at 31 December 2013 (4): Excluding one-off loss on divestment of 20% stake in Australand of S$120.8 million CapitaLand Limited FY2013 Results CapitaLand#68Capital Management ✓ Debt Maturity Profile (As at 31 December 2013) Well-managed Maturity Profile: Less Than 10% Of Group Debt Matures Within A Year S$' billion. 4.0 68 2.7 3.5 3.0 2.1 0.71 2.5 0.81 2.0 2.0 2.0 1.6 1.5 1.2 1.4 1.2 1.5 1.6 1.0 1.0 0.5 0.6 1.0 0.5 1.1 1.0 0.7 0.5 0.4 0.6 0.7 0.0 0.2 0.0 0.0 0.0 2014 2015 2016 2017 2018 2019 2020 2021 2022+ ■CMA ■CL Group (ex. CMA) -60% Of Debt Maturing In 2014 Has Been/Will Be Repaid Or Has Been Refinanced; Another 15% Is Currently Under Negotiations Note (1): The two convertible bond exercises carried out in May and September 2013 shaved off ~S$1.5b from the debt maturity towers in 2015 and 2016 CapitaLand Limited FY2013 Results CapitaLand#6969 Financials Analysis Of FCTR (As at 31 December 2013) Total FCTR¹ Unrealised Losses At S$122.3 Million Equivalent To 1% Of CL's Equity S$' Million 50 30 10 22532 90 84 70 58 59 (10) (30) (50) (70) (90) RMB HKD Note (1): Unrealized losses on consolidated basis (2) Includes EURO and all other currencies 5 By Currency (10) 07 (29) (27) (59) (72) (72) 2 OTHERS USD INR MYR VND JPY AUD CapitaLand Limited FY2013 Results CapitaLand#7070 . Financials Upcoming Implementation Of FRS 110 Consolidated Financial Statements Based on joint assessment by management and auditor, Capita Commercial Trust ("CCT"), Ascott Residence Trust ("ART") and CapitaMalls Malaysia Trust ("CMMT") will be consolidated with effect from 1 January 2014 Potential Implications Of FRS110 On CapitaLand Impact On Bank Lending Banks noted the FRS110 implementation However, no impact on lending available to the CL Group Overall Impact Of FRS110 Not Expected To Be Significant CapitaLand Limited FY2013 Results CapitaLand#71Financials ✓ Pro-forma Financial Impact Of FRS110 Year ended 31 December 2013 Impact On Balance Sheet - CL Group S$ Million As at 31 Dec 2013 (Unaudited) FRS 110 Adjustments Total Assets 36,155 8,908 As at 31 Dec 2013 (Restated) 45,063 Total Liabilities 16,844 3,764 20,608 Non-Controlling Interests 3,243 5,103 8,346 Total Equity 16,068 41 16,109 Net Debt To Equity (%) 0.34 0.05 0.39 Impact On Income Statement - CL Group S$ Million As at 31 Dec 2013 (Unaudited) FRS 110 Adjustments As at 31 Dec 2013 (Restated) Revenue 3,978 543 4,521 Profit After Tax Non-Controlling Interests PATMI 1,185 421 1,606 (335) (430) (765) 850 (10)1 840 71 Note (1): This arose from the elimination of inter-company transactions with the consolidated REITS CapitaLand Limited FY2013 Results CapitaLand#72Financials ✓ FY 2013 Dividend . • (Subject To Shareholders' Approval) In Line With CL's Desire To Pay A Sustainable Dividend Proposed first and final core dividend of 8 Singapore cents 14% higher than 2012 first and final dividend 72 • Payout ratio of 40% Note (1): Subject to final shareholders' approval at the upcoming Annual General Meeting CapitaLand CapitaLand Limited FY2013 Results#73Focus For 2014 CapitaLand Raffles City Shanghai, China#74✓ Focus For 2014 . • . Concentrate on strategy execution and project profitability Focus on integrated/ mixed-use developments Continue to improve organisational effectiveness and alignment of management KPIs and project execution Active capital management productivity - and improve capital Reduce financing costs and to extend debt maturities when opportunities arise - Recycle matured or non-core assets and redeploy capital to higher return projects 74 Cap/taLand CapitaLand Limited FY 2013 Results#75Conclusion Six Battery Road, Singapore#76✓ Conclusion • New streamlined organisation allows the Group to better leverage and harness synergies across the four core business units . Asia's growth story is still intact - CapitaLand is well-positioned to take advantage and deepen presence in two core markets of Singapore and China CapitaLand 76 CapitaLand Limited FY 2013 Results#77Capald 1111 Thank You CapitaLand 19 February 2014#78Q&A Session The Orchard Residences, Singapore#79Supplementary slides Capital Tower, Singapore#8080 Asset Allocation ✓ New Investments Of S$3.7 billion In FY2013 New Investments Reinforce Singapore And China Markets Focus Investment Stake Total GFA Project Name SBU Geography Project Type Amt (%) (Sqm.) (S$M) CapitaMall Grand CRCT1 100% China Canyon Shopping Mall 367.52 70,000 Hanzhonglu Site, Mixed CLC 70% China 110,000 397.53 Shanghai Development Danga Bay Project CLS 51% Malaysia Mixed Development 1,021,925 324.04 37,441 Coronation Road Site CLS 100% Singapore Residential 366.05 (site area) Big Orange Self Storage CL 100% Singapore Self Storage 91.86 Singapore No 138 Connaught Road West Ascott 100% Hong Kong Serviced Residence 3,874 74.9 Project Jewel CMA 49% Singapore Mixed Development 134,000 1,490.07 CapitaMall SKY+8 CMA 100% China Shopping Mall 86,000 534.1 (1) CMA secured Grand Canyon Mall through public tender on 15 Jul. 2013. Capita Retail China Trust (CRCT) exercised the right of first refusal to acquire the property. This is pursuant to CMA's agreement with CRCT dated 8 Nov. 2006, which granted CRCT a right of first refusal over future completed retail properties located in China which are identified by CMA or its subsidiaries. (2) Includes other costs such as transaction costs, capital expenditure and acquisition-related costs. Excludes 1% of acquisition fee payable. (3) Land cost only (4) Land cost on a 100% basis. (5) Land cost only. (6) Acquisition price of company. (7) Excludes construction costs for facilities for airport operations and car park spaces for airport users, which will be borne by CAG. The facilities for airport operations will be handed over for CAG's ownership and management upon completion. (8) The completion of the acquisition is subject to government approval. CapitaLand Limited FY2013 Results CapitaLand#8181 Asset Allocation ✓ Asset Matrix - Diversified Portfolio excluding Treasury Cash as at 31 Dec 2013 S'pore China (1) Aust Other Europe Total Asia (2) S$'M S$'M S$'M S$'M S$'M S$'M CapitaLand Singapore 6,134 78 6,212 CapitaLand China 8,968 8,968 Capita Malls Asia 5,216 4,754 1,377 11,347 Ascott 834 882 205 545 1,198 3,664 Regional Investments and 80 152 83 925 71 1,311 Financial Product & Services Australand CL Corporate Total 923 923 251 152 93 496 12,515 14,908 1,304 2,925 1,269 32,921 (1) China including Hong Kong (2) Excludes S'pore and China and includes projects in GCC CapitaLand Limited FY2013 Results CapitaLand#82Financials ✓ EBIT by SBUS - FY 2013 82 Operating EBIT Portfolio (Losses)/ Revaluation Total (S$'million) Gain Gain/ Impairment CapitaLand Singapore¹ 401.5 (15.7) 92.7 478.5 CapitaLand China² 288.4 52.8 46.5 387.7 CapitaMalls Asia 356.0 36.6 351.2 743.8 Ascott 68.7 23.8 23.5 116.0 Australand 259.8 (46.9) 212.9 Corporate and Others³ (36.4)4 (101.7) (2.8) (140.9) TOTAL EBIT 1,338.0 (4.2) 464.2 1,798.0 74% Of Total EBIT Came From Operating EBIT Note (1): Includes residential businesses in Malaysia. (2): Excludes Retail and Serviced Residences in China. (3): Includes Surbana (Consultancy), Storhub, Financial Services and other businesses in Vietnam, Japan and GCC. (4): Includes $45 million one-off loss incurred on repurchase of convertible bonds CapitaLand Limited FY2013 Results CapitaLand#8383 Financials ✓ EBIT by Geography - FY 2013 Operating Portfolio Revaluation Total EBIT Gain/(Loss) (S$'million) Gain/ Impairment Singapore 610.9 (17.5) 254.5 847.9 China¹ 357.6 95.6 281.9 735.1 Other Asia² 105.1 21.6 (47.1) 79.6 Europe & Others 8.0 16.9 21.3 46.2 Australia 256.4 (120.8) (46.4) 89.2 TOTAL EBIT 1,338.0 (4.2) 464.2 1,798.0 Singapore & China Comprise 88% of Total EBIT Note (1): China including Hong Kong (2): Excludes Singapore and China and includes projects in GCC CapitaLand Limited FY2013 Results CapitaLand#8484 Financials ✓ Group Managed Real Estate Assets¹ Of S$64.6 Billion Group Managed RE Assets On Balance Sheet & JVs Funds REITs/Trusts Others² Total As at 31 Dec 2013 (S$'billion) 20.2 15.3 22.7 6.4 64.6 Note (1) Group Managed Real Estate Assets is the value of all real estate managed by CapitaLand Group entities stated at 100% of the property carrying value. (2) Others include 100% value of properties under management contracts. CapitaLand Limited FY 2013 Results CapitaLand#8585 Financials ✓ Revenue Under Management $'billion 12 10 8 6 10.0 4.0 4 3.3 2 0 FY 2013 Statutory Revenue FY 2012 Revenue Under Management CapitaLand Limited FY 2013 Results 7.3 CapitaLand#8686 CapitaLand Singapore - Residential Sales and Construction Progress¹ % Completed PROJECT Total Units Units Launched Units Sold As at Dec 2013 Launched in 2007 The Orchard Residences 175 175 165 100% Launched in 2008 The Wharf Residence 186 186 184 100% Launched in 2009 The Interlace 1040 1040 854 100% Launched in 2010 d'Leedon 1715 1715 1435 80.1% Launched in 2011 Bedok Residences 583 583 561 46.5% Urban Resort Condominium 64 64 41 100% Launched in 2012 Sky Habitat 509 250 181 39% Launched in 2013 Sky Vue 694 505 479 2.9% 1 Figures might not correspond with income recognition CapitaLand Limited FY2013 Results CapitaLand#87CapitaLand Singapore - Commercial ✓ CapitaLand Singapore • • Divestment of Westgate Tower Granted options on 3 January 2014 to consortium comprising Sun Venture Homes and Low Keng Huat to purchase Westgate Tower for $579.4 million. Options exercised on 23 January 2014. Generated net gain of S$90 million based on CapitaLand Group's effective stake 87 Westgate Tower In Line With CapitaLand's Active Portfolio Management Strategy To Enhance Value For Shareholders CapitaLand Limited FY 2013 Results CapitaLand#8888 CapitaLand China - Residential Residential / Trading Sales & Completion Status Projects SHANGHAI Paragon Blk 1, 2 and 3 KUNSHAN The Metropolis - Phase 1C (Blk 16) The Metropolis - Phase 1C (Blk 11, 12 and 13) The Metropolis - Phase 5 (Blk 22) The Metropolis - Total HANGZHOU Imperial Bay - Blk 4, 5 and 6 Imperial Bay - Blk 1, 2 and 3 Units launched CL effective % of launched stake sold1 Average Selling Price² Expected Completion for launched units % As at Dec 2013 RMB/Sqm 4Q 2013 2014 2015 and beyond 116 99% 62% 130,742 0 0 0 88 448 4 272 808 100% 88 0 0 99% 448 0 100% 0 0 272 70% 100% 12,689 88 448 272 190 272 462 70% 190 0 0 76% 0 272 0 50% 74% 28,225 190 272 0 Imperial Bay - Total NINGBO 5 The Summit Executive Apartments 180 40% 12% 24,524 3 Summit Residences (Plot 1) 38 50% 16% 24,150 BEIJING Beaufort Blk 3 TIANJIN 228 0 38 0 50% 100% 45,269 228 0 0 International Trade Centre 399 100% 51% 19,814 0 399 0 GUANGZHOU Dolce Vita - Phase 1 (C5 to C6) 248 100% 248 0 0 Dolce Vita - Phase 1 (C7 to C8) & Phase 2 (D1 to D3, E1 to E3) 572 87% 0 194 378 Dolce Vita - Total 820 48% 91% 19,928 248 194 378 FOSHAN La Cite - Blk 1, 3, 4 and 8 SHENZHEN i Park Blk B i Park - Blk A i Park - Total 328 100% 57% 9,378 0 328 0 240 208 448 100% 240 0 0 100% 0 208 0 73% 100% 35,357 240 208 0 CHENGDU The Loft - Blk 17 and 19 5 445 99% 0 0 0 The Loft - Blk 14, 18, 23, 24, 25, 26, 27 and 28 1,219 82% 1,219 0 0 The Loft - Total 1,664 56% 87% 9,322 1,219 0 0 3 Raffles Collection TOTAL 76 5,567 40% 3% 0 76 0 81% 2,213 1,963 650 1% sold: units sold (Options issued as of 31 Dec 2013) against units launched. 2 Average selling price (RMB) per sqm is derived using the area sold and sales value achieved (including options issued) in the latest transacted quarter. 3 Launches from new projects in 4Q 2013, namely Raffles Collection (Raffles City Chengdu's strata apartments): 76 units and Summit Residences (Plot 1): 38 units. 4 Launches from existing projects in 4Q 2013, namely The Metropolis Phase 5: 272 units and The Loft: 188 units. 5 Refers to Projects/Phases fully completed in 2Q and 3Q 2013. CapitaLand Limited FY2013 Results CapitaLand#8989 CapitaLand China - Residential ✓ Acquisition Of A Prime Site In Ningbo • Prime residential site located in Sunjia, Jiangbei District, Ningbo acquired through a land bid in Jan 2014 • Site in the north bank of Yao River, surrounded by mid to high-end residential projects and commercial developments. Well served by main roads and easily accessible via the Airport Highway and expressway. Planned MRT expected to be operational in 2018/2019 and is 800 metres away from the site • Plan to build ~1,100 units of small and medium-sized units on the site to cater to first-time homebuyers and upgraders. Construction is expected to begin in 3Q 2014 with the first phase targeted for launch in 2015 MRT Station ZhuangqiaoStation (High-speed Rait) Airport Road To Airport Bus Station Site West R Ring Road 4 Metro Line 4 (Planning) WARE Raffles City Project details: GFA (Sqm) 126,212 sqm Acquisition price Consideration RMB 8,858 per sqm per plot ratio S$232 million CapitaLand Limited FY 2013 Results CapitaLand#90CL Township ✓ CapitaLand Township 2 5 Township Projects in 4 cities; GFA 3.9m sqm* (CLC share: ~663k sqm) Chengdu (2003) The Botanica GFA - 1.0m sqm (~95% Launch) CLC Effective Stake: 6% Shenyang, Liaoning (2007) Chengdu (2013) Parc Botanica GFA 362k sqm (~19% Launch) CLC Effective Stake: 22% 90 Xi'an Shanxi (2006) Wuxi, Jiangsu (2005) Chengdu, Sichuan (2003,2013) Wuxi (2005) Central Park City GFA - 656k sqm (~56% Launch) CLC Effective Stake: 6% Xi'An (2006) LA Botanica GFA - 2.9m sqm (~27% Launch) CLC Effective Stake: 15% Shenyang (2007) Lake Botanica GFA - 1.2m sqm (~17% Launch) CLC Effective Stake: 24% * Pipeline representing unsold and yet to launch units % Launch based on area launched against project's estimated total area as at Dec 2013. CapitaLand Limited FY2013 Results CapitaLand#91Raffles City ✓ Under Development Assets Raffles City Hangzhou 91 Raffles City Hangzhou Target Opening in 2015 CapitaLand Limited FY 2013 Results T1 structure T2 structure 80% structural completion CapitaLand#9292 Raffles City ✓ Under Development Assets Raffles City Shenzhen Raffles City Shenzhen Target Opening in 2016 E Phase 1: iPark Block B handed over in 4Q 2013 Phase 2: Raffles City Shenzhen Construction progress on track CapitaLand Limited FY 2013 Results Phase 3 CapitaLand#93Raffles City ✓ Under Development Assets Raffles City Changning 93 Raffles City Changning Target Opening in 2016 Raffles City Chongqing Raffles City Chongqing Target Opening in 2018 CapitaLand Limited FY2013 Results Aerial view: 19% completion Excavation work under progress CapitaLand#94Raffles City Stablised Assets - Retail Mall Performance Raffles City Shanghai Raffles City Beijing Tenant Sales Tenant Sales RMB million 140 120 100 60 80 RMB million 60 13.7% Y-o-Y 55 50 45 45 60 40 Jan Feb Mar Apr May Jun Jul 2013 Sales Aug Sep Oct Nov Dec 2012 Sales Jan Feb Mar Apr May Jun Jul 2013 Sales Shopper Traffic In thousands 3,000 2,500 2,000 1,500 94 In thousands 900 13.2% Y-o-Y 800 700 600 ↑4.5% Y-o-Y Aug Sep Oct Nov Dec 2012 Sales Shopper Traffic 13.2% Y-o-Y 1,000 500 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 Shopper Traffic 2012 Shopper Traffic 2013 Shopper Traffic CapitaLand Limited FY2013 Results 2012 Shopper Traffic CapitaLand#9595 10 10 5 15 Raffles City ✓ Newly Operational Assets - Retail Mall Performance Raffles City Ningbo Raffles City Chengdu Growing sales and shopper traffic 30 25 25 20 Sep'12 Oct'12 Tenant Sales RMB million Nov'12 Dec'12 Jan'13 In thousands 700 600 500 400 300 200 100 Sep'12 Oct'12 Nov'12 Dec'12 Jan'13 Feb'13 Mar'13 FY 2013 Sales: RMB 290m Feb'13 Mar'13 Apr'13 May'13 Jun'13 Shopper Traffic Jul'13 Aug'13 Sep'13 Oct'13 Nov'13 Dec'13 2013 avg monthly traffic: ~500k Apr'13 May'13 Jun'13 Jul'13 Aug'13 Sep'13 Oct'13 Nov'13 Dec'13 10 20 30 40 50 50 Sep'12 Oct'12 60 RMB million Tenant Sales FY 2013 Sales: RMB 579m Nov'12 Dec'12 Jan'13 Feb'13 Mar'13 Apr'13 May'13 In thousands 1,000 800 600 400 200 Sep'12 CapitaLand Limited FY2013 Results Oct'12 Nov'12 Dec'12 Jan'13 Feb'13 Jun'13 Jul'13 Aug'13 Sep'13 Oct'13 Nov'13 Shopper Traffic 2013 avg monthly traffic: ~700k Mar'13 Apr'13 May'13 Jun'13 Jul'13 Aug'13 Sep'13 Oct'13 Nov'13 Dec'13 CapitaLand Dec'13#96CapitaMalls Asia ✓ Pipeline of Malls Opening 96 No. of Properties as of 31 Dec 2013 Country Operational Target to be opened in 2014 Target to be opened in 2015 & beyond Total Singapore 19 1 20 China 51 21 9 62 Malaysia 5 1 6 Japan 8 India 2 2 150 Total 85 4 16 8 9 105 (1) Not including CapitaMall Fucheng (Phase II), Mianyang. CapitaLand Limited FY2013 Results CapitaLand#97The Ascott Limited 4Q 2013 RevPAU Performance S$ -3% 300 245 250 237 200 150 +6% -7% +2% -5% +7% 155 144 144 146 121 123 122 114 105 97 92 98 100 50 0 Singapore SE Asia & Australia (ex China North Asia (ex China) Europe Gulf Region & Total India S'pore) 4Q2012 4Q2013 97 Same-store-Numbers include all serviced residences owned, leased and managed RevPAU - Revenue per available unit Foreign currencies are converted to S$ at respective period's average rates CapitaLand Limited FY2013 Results CapitaLand#98The Ascott Limited ✓ FY 2013 RevPAU Performance S$ 300 -4% 250 200 150 100 50 246 236 Decrease was due to depreciating JPY. In local currency terms, RevPau increased by 12% +7% -3% +3% -2% -2% +6% 147 136 137 133 120 116 117 120 102 96 94 96 0 Singapore SE Asia & Australia (ex S'pore) China North Asia (ex China) Europe Gulf Region & Total India FY 2012 FY 2013 98 Same-store-Numbers include all serviced residences owned, leased and managed RevPAU - Revenue per available unit Foreign currencies are converted to S$ at respective period's average rates CapitaLand Limited FY2013 Results CapitaLand#99The Ascott Limited The Ascott Limited's Portfolio: 22,942 operational & 10,675 under development (As at 31 December 2013) ART ASRCF Owned Minority Owned 3rd Party Managed Leased Total Singapore Indonesia 868 195 70 1,133 401 1,810 2,211 Malaysia 255 221 1289 1,765 Philippines 584 938 1,522 Thailand 651 1,224 1,875 Vietnam 818 132 909 1,859 STH EAST ASIA TOTAL 2,671 387 872 6,365 70 10,365 China 1,177 1,885 206 6,728 36 10,032 Japan 1,895 429 888 283 3,495 South Korea 409 409 NORTH ASIA TOTAL 3,072 1,885 635 888 7,420 36 13,936 India 1,096 450 96 1,642 SOUTH ASIA TOTAL 1,096 450 96 1,642 Australia 85 414 175 674 AUSTRALASIA TOTAL 85 414 175 674 United Kingdom 600 230 136 966 France-Paris 994 106 236 516 1,852 France-Outside Paris 677 1 670 1,348 Belgium 323 323 Germany 430 293 723 Spain 131 131 Georgia 66 66 EUROPE TOTAL 3,155 629 303 1,322 5,409 U.A.E 118 118 7% Y-o-Y Saudi Arabia 532 532 increase Bahrain 118 118 from 31,428 Qatar 429 429 units as at 31 Oman 394 394 December GULF REGION TOTAL 1,591 1,591 2012 SERVICE APARTMENTS 7,380 1,885 2,684 872 14,825 1,629 29,275 Corporate Leasing 1,603 477 888 1,304 70 4,342 CORP LEASING TOTAL 1,603 477 888 1,304 70 4,342 99 GRAND TOTAL 8,983 1,885 3,161 1,760 16,129 1,699 33,617 CapitaLand