Capitaland Mall Trust : Full Year 2016 Financial Results Presentation

CAPITALAND MALL TRUST Singapore's First & Largest REIT Full Year 2016 Financial Results

20 January 2017

Disclaimer

This presentation may contain forward-looking statements that involve assumptions, 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, competition from other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), 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 on future events.

The information contained in this presentation has not been independently verified. 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 Mall Trust Management Limited (the 'Manager') or 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 Mall Trust ('CMT') is not indicative of the future performance of CMT. Similarly, the past performance of the Manager is not indicative of the future performance of the Manager.

The value of units in CMT ('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 Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on the Singapore Exchange Securities Trading Limited (the 'SGX-ST'). It is intended that unitholders of CMT may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

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

for Units.

Contents

• Review of FY 2016

• Key Financial Highlights

• Portfolio Updates

• Asset Enhancement Initiatives ('AEI')

• Looking Forward

Review of FY 2016

Operational Performance

,

1.0%

Positive rental reversion based on 704 new leases/ renewals

,

98.5%

as at end-Dec 2016

Portfolio

occupancy rate

,

2.3%

Y-o-Y

Shopper traffic

0.9%

Y-o-Y

Tenants' sales

per square foot

Asset Updates Proactive Capital Management

Inspire real estate innovation to offer a new live-work-play paradigm

Issued 10-year S$100.00 million fixed rate notes at

interest rate of 3.50% per annum

Refinanced RCS Trust's borrowings of S$1,069.5 million (CMT's 40% interest was S$427.8 million) with unsecured loan facilities from various banks and unencumbered Raffles City Singapore

To further enhance the shopping experience and reinforce its position as one of Singapore's top shopping destinations

Welcoming new tenants

to Clarke Quay

Issued 15-year S$150.0 million fixed rate notes at interest rate of 3.35% per annum

Issued 10-year HK$560.0 million fixed rate

notes swapped into S$99.0 million at interest rate of 2.928% per annum