CDL: Off Market Equal Access Offer Close of Off Market Equal Access Offer

CITY DEVELOPMENTS LIMITED

(Co. Reg. No. 196300316Z)

(Incorporated in the Republic of Singapore)

OFF-MARKET EQUAL ACCESS OFFER - CLOSE OF OFF-MARKET EQUAL ACCESS OFFER

1. INTRODUCTION
   The Board of Directors (the "Board" or the "Directors") of City Developments Limited (the "Company") refers to the letter to preference shareholders dated 8 May 2024 (the "Letter to Preference Shareholders") despatched to the preference shareholders of the Company (the "Preference Shareholders") in relation to the off-market purchase of non-redeemable convertible non-cumulative preference shares of the Company (the "Preference Shares") in accordance with an equal access scheme (the "Off-MarketEqual Access Offer").
   Unless otherwise defined, all capitalised terms used and not defined herein shall bear the same meanings given to them in the Letter to Preference Shareholders.
2. CLOSE OF OFF-MARKET EQUAL ACCESS OFFER

1. The Company wishes to announce that the Off-Market Equal Access Offer has closed at 5.30 p.m. (Singapore time) on 23 May 2024 (the "Closing Date").
   Accordingly, the Off-Market Equal Access Offer is no longer open for acceptance. Any acceptances received after 5.30 p.m. (Singapore time) on the Closing Date will be rejected.
2. The Company will announce the total number of Preference Shares to be purchased pursuant to the Off-Market Equal Access Offer before 9.00 a.m. (Singapore time) on 27 May 2024 and will arrange for payment to be made to successful Accepting Shareholders in accordance with the settlement procedures set out in the Appendix to the Letter to Preference Shareholders.

3. DIRECTORS' RESPONSIBILITY STATEMENT

The Directors collectively and individually accept full responsibility for the accuracy of the information given in this Announcement and confirm after making all reasonable enquiries that, to the best of their knowledge and belief, this Announcement constitutes full and true disclosure of all material facts about the Off-Market Equal Access Offer, the Company and its subsidiaries, and the Directors are not aware of any facts the omission of which would make any statement in this Announcement misleading. Where information in this Announcement has been extracted from published or otherwise publicly available sources or obtained from a named source, the sole responsibility of the Directors has been to ensure that such information has been accurately and correctly extracted from those sources and reproduced in this Announcement in its proper form and context.

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By Order of the Board

Yeo Swee Gim, Joanne

Enid Ling Peek Fong

Company Secretaries

23 May 2024

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