General Announcement::Proposed Scheme of Arrangement involving CapitaLand Limited (Dealings Disclosure)

PROPOSED SCHEME OF ARRANGEMENT INVOLVING CAPITALAND LIMITED

DEALINGS DISCLOSURE

1. INTRODUCTION

J.P. Morgan (S.E.A.) Limited ("JPMSEAL") refers to:

1. the proposed scheme of arrangement (the "Scheme") to be undertaken by CapitaLand Limited (the "Company") and CLA Real Estate Holdings Pte. Ltd. (the "Offeror") pursuant to
   Section 210 of the Companies Act, Chapter 50 of Singapore;
2. the proposed tender offers to be undertaken by the Company, to the bondholders of the
   Company (the "Bondholders") for the outstanding convertible bonds of the Company (the "Convertible Bonds", and such tender offers, the "Tender Offers"); and
3. the proposed offers to be undertaken by the Offeror, to the Bondholders for the outstanding Convertible Bonds, in accordance with Rule 19 of the Singapore Code on Take- overs and Mergers (the "Code", and such offers, the "Convertible Bonds Offers"),

which were announced on 22 March 2021 (the "Joint Announcement").

As stated at paragraph 8.1 of the Joint Announcement, JPMSEAL is the financial adviser to the Company in respect of the Scheme.

All capitalised terms used and not defined herein shall have the same meanings given to them in the Joint Announcement.

2. DISCLOSURE OF DEALINGS

Pursuant to Rule 12.1 of the Code and the Practice Statement on the Exemption of Connected Fund Managers and Principal Traders under the Code, JPMSEAL wishes to announce the dealings by its associates (the "Relevant Entities") in the relevant securities of the Company on 23 July 2021, details of which are set out in the Schedule hereto.

Issued by

J.P. Morgan (S.E.A.) Limited

26 July 2021

Singapore

Schedule

Dealing

in Shares

Name of Relevant Entity and

Total Amount

Resultant Total

% of

Highest and

of Equivalent

Resultant

Date of

(if different) name of the

Description of

Number of

Price

(Paid)/

Nature of Transaction

Lowest Prices Paid

Shares owned

Total of

Dealing

ultimate beneficial owner or

Security

Shares

(SGD)

(Received)

or Received (SGD)

or controlled by

Equivalent

controller

(SGD)

the associate

Shares

Buy/Sell

Product

Nature of

Highest

Lowest

Type

Dealing

23-Jul-21

J.P. MORGAN SECURITIES PLC

CAPITALAND LTD

Buy

Common

Index hedge

43,900

3.99

4.01

3.99

175,277.09

9,626,208

0.19%

(dealing as principal)

Shares

23-Jul-21

J.P. MORGAN SECURITIES PLC

CAPITALAND LTD

Buy

Common

Swap Hedge

95,700

4.00

4.04

3.99

383,261.20

9,721,908

0.19%

(dealing as principal)

Shares

23-Jul-21

J.P. MORGAN SECURITIES PLC

CAPITALAND LTD

Buy

Common

Index hedge

22,600

4.00

4.00

4.00

90,436.16

9,744,508

0.19%

(dealing as principal)

Shares

23-Jul-21

J.P. MORGAN SECURITIES PLC

CAPITALAND LTD

Sell

Common

ETF

(47,400)

4.01

4.01

4.01

190,280.00

9,697,108

0.19%

(dealing as principal)

Shares

Redemption

23-Jul-21

J.P. MORGAN SECURITIES PLC

CAPITALAND LTD

Buy

Common

ETF Creation

47,400

4.01

4.01

4.01

190,280.00

9,744,508

0.19%

(dealing as principal)

Shares

Dealings in

Derivatives

in respect

of Shares

Number

Total

of Shares

Closing

Maturity

Reference

Amount

Date of

Name of Relevant Entity and (if different) name of

Description of

to which

Out Date

Nature of Transaction

(Date)/

Price

(Paid)/

Dealing

the ultimate beneficial owner or controller

Security

the

(if

(Period)

(SGD)

(Received)

Derivatives

applicable)

(SGD)

relate

Buy/Sell

Product Type

Nature of Dealing

23-Jul-21

J.P. MORGAN SECURITIES PLC (dealing as principal)

CAPITALAND LTD

Sell

Common Shares

Swap

(84,800)

8-Feb-23

-

4.00

339,488.32

23-Jul-21

J.P. MORGAN SECURITIES PLC (dealing as principal)

CAPITALAND LTD

Sell

Common Shares

Swap

(10,900)

8-Feb-23

-

4.02

43,848.52