CapitaLand Investor Day 2017

Presentation By Mr. Lim Ming Yan, President & Group CEO

14 November 2017

2

Contents

• Recap Of CapitaLand’s Transformation

• Adapting To The New Real Estate Landscape

• Conclusion

Contents

3

ION Orchard, Singapore

Recap Of CapitaLand’s

Transformation

4

502.5 581.8

653.0

834.8

123.5

170.6

30.5

0

200

400

600

800

1,000

1,200

FY2013 (restated) FY2014 FY2015 FY2016

Operating PATMI Non-operating PATMI

61%

70%

Strengthened Growth In Operating PATMI

Operating PATMI Increased Steadily For The Past 3 Years

Note:

1. Total operating PATMI inclusive of S$16.3 million operating PATMI from discontinued operation in FY 2014 (FY2013 restated: S$108.7 million)

2. Operating PATMI excluding fair value gain arising from change in use of development projects in China in FY2015 (S$170.6 million) and FY2016 (S$30.5 million)

1

Recap of CapitaLand’s Transformation

840.2

1,160.8

1,065.7

1,190.3

50% 61%

70%

60%1

Westgate

Tower Sale

(11%)

Fair Value Gain

From Change In

Use Of Properties

(16%)

Fair Value Gain

From Change In

Use Of A Property

(3%)2

2

S$ Million

2

1

5

Underlying Quality Of Operating PATMI Remains Strong

After Excluding One-Off Fair Value Gain From Change In Use Of Property And

Gains From Sale of The Nassim,

YTD Sep 2017 Operating PATMI Grew At 8% Y-o-Y

2

Recap of CapitaLand’s Transformation

2

Fair Value Gain

From Change In

Use Of A Property

759.8

1,283.0

Gain From Sale Of

45 Units Of The

Nassim

+8%

545.7 588.0

30.5

160.9

0

200

400

600

800

1,000

1,200

YTD Sep 2016 YTD Sep 2017

Operating PATMI Non-operating PATMI

S$ Million

6

Recurring Income Further Strengthened As More Properties Turn Operational

Stabilised Investment Properties Increased From 68% To 77%

Note:

1. Value of properties held by subsidiaries are reported based on 100%, value of properties held through associates/JV are reported based on CapitaLand’s effective share.

2. Non- stabilised assets comprised properties opened/completed in the last 3 years

3

Recap of CapitaLand’s Transformation

Properties Under Development

7%

Investment Properties (Not

Stabilised) 2

16%As At

30 Sep 2017

Investment Properties (Stabilised)

77%

Properties Under Development

15%

Investment Properties (Not

Stabilised) 2

17%

Investment Properties (Stabilised)

68%

As At 31 Dec

2014

7

Suzhou Center MallRecap of CapitaLand’s Transformation

• CapitaLand’s largest mall opened on 11 Nov. 2017 with committed occupancy above 90%

• Attracted >400,000 footfall on the opening day

8

Group’s Real Estate AUM Continues To Grow And New Funds Were Set Up

4

Recap of CapitaLand’s Transformation

21.3

20.2

19.7

16.7

15.3

0 10 20 30 40 50 60 70 80 90

Sep-17

2016

2015

2014

2013

Group Real Estate AUM (S$m)

Ye

ars

Funds AUM

16 Funds

16 Funds

16 Funds: Added Ascott-QIA Global Serviced Residence Fund

15 Funds: Added Raffles City China Investment Partners III

15 Funds: Added CapitaLand Vietnam Commercial Fund I

Group Real Estate AUM Number Of Private Equity Funds

64.6

70.6

76.8

78.6

85.0

9

Leveraged On Technology Across Various Asset Classes5

Recap of CapitaLand’s Transformation

Inspiring new Live-Work-Play

paradigm

Toong Collective Works UrWork

lyf - by millennials, for

millennials

New trends

in Live,

Work &

Play

Enhancing

customer

stickiness

Leveraging

technolog

y to

enhance

existing

platforms

O2O

Convergence

To Bridge

Services To Our

Customers

10 CapitaLand Presentation May 2013

Raffles City Beijing, China

Adapting To The New Real Estate Landscape

11

The Investment Environment We Face Today

Adapting To The New Real Estate Landscape

Characteristics Of Today’s Market

- Uncertainties Abound

- Asset Prices Are High

- Prospective Returns Are Low

- Pro-Risk Behavior Is Commonplace

1

2

3

4

Signs Of A Boom Present Across Classes

Signs Of A

Boom/

Bubble

High Equity

Valuations

VIX ‘Index Of

Fear At An All-

Time Low

Low Yields On

Low- Rated

Credit

Instruments

Historic Highs For

PE & Tech

Fundraising

We Are In A Low-Return, High-Risk World;

Valuations And Markets Are Elevated

12

Three Megatrends Affecting All Businesses

Adapting To The New Real Estate Landscape

Ageing Populations

New Millennial Customers

Demographics

Digital Platforms Scaling

Big Data Analytics

Technology Flow Of Funds

Funds Flowing To

Emerging Markets,

Especially APAC

How Is CapitaLand Responding?

13

Strengthen Corporate Level Capabilities1

Adapting To The New Real Estate Landscape

Jason Leow2

• Drive economies of scale

• Provide better corporate

support to businesses

Group Chief Operating Officer

Note:

1. With effect on 1 January 2018

2. To concurrently be Deputy Chair of Retail

3. To be concurrently be Deputy Chair of Service Residence

1

Group Chief Investment Officer

Lee Chee Koon3

• Optimise capital allocation

across the Group

• Drive Group’s growth strategies

14

Strengthen CapitaLand’s Operating Platforms

Adapting To The New Real Estate Landscape

Lynette Leong CEO, CapitaLand Commercial

Commercial

To Develop Strategies To Future-Proof Our Businesses

Wilson TanCEO1, CapitaLand Mall Asia

Retail Serviced Residences

Kevin GohCEO1, The Ascott Limited

Future Of Work

O&O PlatformGrow Global

Platform

Note:

1. Appointment to take effect from 1 January 2018

2

15

Improve Quality Of CapitaLand’s Asset Portfolio

Adapting To The New Real Estate Landscape

Asset Owners In Respective Geographies

Now Have An Overall Perspective Of Each Portfolio’s Return

Ronald Tay

Singapore, Malaysia,

Indonesia

Lucas Loh

China

Gerald Yong

Rest Of

World/Deputy CIO

Vietnam

Chen Lian Pang

Note: Appointments to take effect from 1 January 2018

3

16

Greater Emphasis On PE Fund Business4

• New CEO James Lim In Charge Of PE Fund Business

• Enhanced ROE From Capital Recycling And Acquiring Third

Party Assets

▪ Reduces balance sheet requirements while AUM scales up

▪ Recurring fee income and higher ROE

• On Track To Grow Additional AUM Up To S$10 billion By 2020

▪ Already raised 3 funds –

▪ US$600 Million Ascott-QIA JV (2015)

▪ US$1.5 Billion Raffles City China Investment Partners III (2016)

▪ US$300 Million CapitaLand Vietnam Commercial Fund 1 (2017)

Total ~S$6.5 billion AUM

A

C

B

Adapting To The New Real Estate Landscape

17 CapitaLand Limited 1Q2014 Results

ION Orchard, Singapore

Conclusion

18

Conclusion

• Barring unforeseen circumstances, CapitaLand is likely to achieve

>8% ROE in 2017

• We are well-positioned to deliver a sustainable ROE above our cost

of equity going forward

- More active portfolio recycling

- Growth of recurring fee income

Thank You