Notice Of Valuation Of Real Assets :: Asset Valuation

CAPITALAND RETAIL CHINA TRUST

(Constituted in the Republic of Singapore pursuant to a trust deed dated 23 October 2006 (as amended))

ANNOUNCEMENT

ASSET VALUATION

Pursuant to Rule 703 of the Listing Manual of the Singapore Exchange Securities Trading Limited, CapitaLand Retail China Trust Management Limited (the "Manager"), as manager of CapitaLand Retail China Trust ("CRCT"), wishes to announce that the Manager has obtained new independent valuations, as at 30 June 2018, for the properties owned by CRCT.

Owner

HSBC Institutional Trust Services (Singapore) Limited as trustee of CRCT

Description of Property	Valuer	Valuation (RMB' million)
Rock Square 106-108 Gongye Avenue North, Haizhu District, Guangzhou City, Guangdong Province	Savills Valuation & Professional Services (S) Pte Ltd	3,400.0
CapitaMall Xizhimen No. 1 Xizhimenwai Avenue, Xicheng District, Beijing	Beijing Colliers International Real Estate Valuation Co., Ltd.	3,136.5
CapitaMall Wangjing No. 33 Guangshun North Street, Blk 213 & 215, Chaoyang District, Beijing	Beijing Colliers International Real Estate Valuation Co., Ltd.	2,422.0
CapitaMall Grand Canyon No. 16 Nansanhuan Xi Road, Fengtai District, Beijing	Beijing Colliers International Real Estate Valuation Co., Ltd.	2,095.0
CapitaMall Xinnan No. 99, Shenghe Yi Road, Gaoxin District, Chengdu, Sichuan Province	Cushman & Wakefield International Property Advisers (Shanghai) Co., Ltd.	1,542.0
CapitaMall Erqi No. 3 Minzhu Road, Erqi District, Zhengzhou, Henan Province	Beijing Colliers International Real Estate Valuation Co., Ltd.	641.0
CapitaMall Shuangjing No. 31 Guangqu Road, Chaoyang District, Beijing	Cushman & Wakefield International Property Advisers (Shanghai) Co., Ltd.	586.0
Description of Property	Valuer	Valuation (RMB' million)
CapitaMall Minzhongleyuan No. 704 Zhongshan Avenue, Jianghan District, Hankou, Wuhan, Hubei Province	Beijing Colliers International Real Estate Valuation Co., Ltd.	528.0
CapitaMall Qibao No. 3655 Qi Xin Road, Minhang District, Shanghai	Knight Frank Petty Limited	495.0
CapitaMall Saihan No. 26 Ordos Street, Saihan District, Huhhot, Inner Mongolia Autonomous Region	Cushman & Wakefield International Property Advisers (Shanghai) Co., Ltd.	458.0
CapitaMall Wuhu No. 37 Zhongshan North Road, Jinghu District, Wuhu, Anhui Province	Knight Frank Petty Limited	193.0

Copies of the valuation reports for the above properties are available for inspection by appointment only at the Manager's registered office at 168 Robinson Road, #30-01 Capital Tower, Singapore 068912 during normal business hours for three months from the date of this announcement.

For enquiries and appointment, please contact Mr. You Hong at [phone] or email:[e-mail] or visit our website at www.crct.com.sg.

BY ORDER OF THE BOARD

CapitaLand Retail China Trust Management Limited (Registration Number: 200611176D)

As manager of CapitaLand Retail China Trust

Chuo Cher Shing

Company Secretary 27 July 2018

Important Notice

The value of units in CapitaLand Retail China Trust ("Units") and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by CapitaLand Retail China Trust Management (the "Manager"),

as manager of CapitaLand Retail China Trust, or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors will have no right to request the Manager to redeem their Units while the Units are listed. It is intended that unitholders may only deal in their Units through trading on the Singapore Exchange Securities Trading Limited ("SGX-

ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

The past performance of CapitaLand Retail China Trust is not necessarily indicative of the future performance of CapitaLand Retail China Trust.