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 2 August 2021, details of which are set out in the Schedule hereto.

Issued by

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

3 August 2021

Singapore

Schedule

	Dealing
	in Shares
																												Resultant
																												Total of
																												Equivalent			% of
																									Total Amount			Shares
															Number						Highest and Lowest							Resultant
	Date of			Name of Relevant Entity and (if different) name of the			Description of										Price					(Paid)/			owned
								Nature of Transaction			of					Prices Paid or							Total of
	Dealing			ultimate beneficial owner or controller			Security								(SGD)					(Received)			or
												Shares					Received (SGD)							Equivalent
																						(SGD)			controlled
																													Shares
																												by
																												the
																												associate
									Buy/Sell		Product Type	Nature of Dealing									Highest	Lowest
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Sell		Common Shares	Index hedge	(200)		4.02		4.06	4.01		803.68		13,596,108		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Buy		Common Shares	Swap Hedge	2,600		4.03		4.06	4.01		10,493.19		13,598,708		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Sell		Common Shares	Index hedge	(10,900)		4.04		4.06	4.03		44,027.39		13,587,808		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Sell		Common Shares	Index hedge	(1,700)		4.03		4.06	4.01		6,850.26		13,586,108		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Buy		Common Shares	Index hedge	200		4.06		4.06	4.06		812.32		13,586,308		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Sell		Common Shares	Index hedge	(200)		4.06		4.06	4.01		810.68		13,586,108		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Buy		Common Shares	Swap Hedge	600		4.06		4.06	4.01		2,434.97		13,586,708		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Sell		Common Shares	Index hedge	(3,600)		4.06		4.06	4.03		14,592.17		13,583,108		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Sell		Common Shares	Index hedge	(100)		4.06		4.06	4.01		405.84		13,583,008		0.26%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Buy		Common Shares	Swap Hedge	341,215		4.03		4.03	4.03		1,375,164.69		13,924,223		0.27%
	2-Aug-21		J.P. MORGAN SECURITIES PLC (dealing as principal)		CAPITALAND LTD	Buy		Common Shares	Swap Hedge	126,737		4.06		4.06	4.06		513,943.88		14,050,960		0.27%

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

2-Aug-21

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

CAPITALAND LTD

Sell

Common Shares

Swap

(3,200)

8-Feb-23

-

4.04

12,930.56

2-Aug-21

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

CAPITALAND LTD

Sell

Common Shares

Swap

(467,952)

9-May-23

-

4.04

1,891,746.03