CapitaLand Integrated Commercial Trust : Notice Of Valuation Of Real Assets - Asset Valuation

CAPITALAND INTEGRATED COMMERCIAL TRUST

(Constituted in the Republic of Singapore pursuant to a trust deed dated 29 October 2001 (as amended))

ANNOUNCEMENT

ASSET VALUATION

Pursuant to Rule 703 of the SGX-ST Listing Manual, CapitaLand Integrated Commercial Trust Management Limited (the "Company"), as manager of CapitaLand Integrated Commercial Trust ("CICT", and manager of CICT, the "Manager"), wishes to announce that the Manager has obtained independent valuations as at 31 December 2021 for all properties owned by CICT.

The valuations for Bedok Mall, Tampines Mall and Junction 8 were conducted by Knight Frank Pte Ltd. The valuations for Capital Tower and IMM Building were conducted by Jones Lang LaSalle Property Consultants Pte Ltd. The valuations for Plaza Singapura, The Atrium@Orchard, JCube, Raffles City Singapore, Westgate and 21 Collyer Quay were conducted by Savills Valuation and Professional Services (S) Pte Ltd. The valuations for Bugis Junction, Bugis+, Funan, Clarke Quay, CapitaGreen and CapitaSpring were conducted by Colliers International Consultancy & Valuation (Singapore) Pte Ltd. The valuations for Bukit Panjang Plaza, Lot One Shoppers' Mall, Asia Square Tower 2 and Six Battery Road were conducted by Cushman & Wakefield VHS Pte. Ltd.. The valuations for Germany properties, Gallileo and Main Airport Center, were conducted by Knight Frank Valuation & Advisory GmbH & Co. KG.

Description of Property	Valuation (S$ million)
Tampines Mall	1,078.0
4 Tampines Central 5
Junction 8	796.0
9 Bishan Place
Funan(1)	785.0
107 and 109 North Bridge Road
IMM Building	709.0
2 Jurong East Street 21
Plaza Singapura	1,339.0
68 Orchard Road
Bugis Junction	1,088.0
200 Victoria Street
JCube	278.0
2 Jurong East Central 1
Lot One Shoppers' Mall	543.5
21 Choa Chu Kang Avenue 4

Description of Property	Valuation (S$ million)
Bukit Panjang Plaza
(90 out of 91 strata lots)	338.6
1 Jelebu Road
The Atrium@Orchard	756.2
60A and 60B Orchard Road
Clarke Quay	342.0
3A/B/C/D/E River Valley Road
Bugis+	354.0
201 Victoria Street
Bedok Mall(2)	783.0
311 New Upper Changi Road
Westgate(3)	1,091.0
3 Gateway Drive
Raffles City Singapore(4)
250 & 252 North Bridge Road, 2 Stamford	3,072.0
Road and 80 Bras Basah Road
Asia Square Tower 2	2,225.0
12 Marina View
CapitaGreen	1,657.0
138 Market Street
Capital Tower	1,449.0
168 Robinson Road
Six Battery Road	1,445.0
6 Battery Road
21 Collyer Quay	629.9
CapitaSpring(5)	1,940.0
86 & 88 Market Street
Gallileo(6)	€325.0
Gallusanlage 7
Neckarstraβe 5, 60329 Frankfurt/Main,	500.0(7)
Germany
Main Airport Center(8)	€287.0
Unterschweinstiege 2-14
60549 Frankfurt am Main, Germany	441.5(7)

Notes:

1. The retail component of Funan is held through CICT and the office component is held through Victory Office 1 Trust and Victory Office 2 Trust (each of Victory Office 1 Trust and Victory Office 2 Trust are wholly-owned by CICT).
2. Bedok Mall is held through Brilliance Mall Trust, which is wholly-owned by CICT.
3. Westgate is held through Infinity Mall Trust, which is wholly-owned by CICT.
4. Raffles City Singapore is held through RCS Trust which is wholly-owned by CICT.
5. The valuation of CapitaSpring was based on full TOP obtained on 15 November 2021. The valuation of the entire integrated development is S$1,940.0 million as at 31 December 2021. CICT's 45% interest in CapitaSpring held through Glory Office Trust and Glory SR Trust amounts to S$873.0 million.
6. CICT's 94.9% interest in Gallileo held through Gallileo Property S.a.r.l amounts to EUR308.4 million (S$474.5 million).
7. Based on exchange rate of EUR 1 = S$1.538
8. CICT's 94.9% interest in the Main Airport Center held through MAC Property Company B.V. and MAC Car Park Company B.V. amounts to EUR272.4 million (S$419.0 million).

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 Ms Ho Mei Peng at + 65 6713 3668 or email: [e-mail] or visit our website at <www.cict.com.sg>.

BY ORDER OF THE BOARD

CapitaLand Integrated Commercial Trust Management Limited (Registration Number: 200106159R)

As manager of CapitaLand Integrated Commercial Trust

Lee Ju Lin, Audrey

Company Secretary

28 January 2022

IMPORTANT NOTICE

The past performance of CapitaLand Integrated Commercial Trust ("CICT") and CapitaLand Integrated Commercial Trust Management Limited, as manager of CICT (the "Manager") is not indicative of future performance. The listing of the units in CICT ("Units") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Units. The value of the 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 the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST.

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.