CapitaLand Commercial Trust : Presentation For Investor Meetings In Tokyo (14 - 16 November 2018)

CapitaLand Commercial Trust

Singapore's First and Largest Commercial REIT

Presentation for investor meetings in Tokyo

(Based on Third Quarter 2018 Financial Results)

14 - 16 November 2018

Important Notice

This presentation shall be read in conjunction with CCT's 3Q 2018 Unaudited Financial Statement Announcement.

The past performance of CCT is not indicative of the future performance of CCT. Similarly, the past performance of CapitaLand Commercial Trust Management Limited, the manager of CCT is not indicative of the future performance of the Manager.

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

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 the CCT Manager on future events.

Contents

Slide No.

1.	3Q 2018 Highlights	04
2.	Financials and Capital Management	13
3.	Portfolio Performance	20
4.	Singapore Office Market	31
5.	Frankfurt Office Market	35
6.	Portfolio Value Creation	39
7.	Looking Ahead	49
8.	Additional Information	53

*Any discrepancies in the tables and charts between the listed figures and totals thereof are due to rounding.

CapitaLand Commercial Trust Presentation October 2018

CCT's 3Q 2018 distributable income rose 13.1% YoY

Note:

3Q 2017 and YTD Sep 2017 distributable income included a S$3.3 million top-up for the loss of distributable income arising from the divestments of One George Street (50% stake) and Wilkie Edge.