CapitaLand China Trust - Annual Report 2023

At CapitaLand China Trust, we remain focused on creating sustainable value for our stakeholders. We bring diverse ideas and leverage our real estate investment management expertise across our diversified portfolio - retail, business parks and logistics parks - supported by our strong team on the ground. The convergence and interconnection of distinct shapes on the cover page captures this essence. It also showcases our dynamic ONE CapitaLand Ecosystem, as we forge ahead together with a shared purpose of making a positive impact. WHERE IDEAS TAKE SHAPE Leadership 34 Our Board of Directors 40 Trust Management Team 42 Trust Structure & Organisation Structure Overview 2 About Us 4 Property Portfolio 7 Performance Snapshot of 2023 8 Financial Highlights 10 Year in Brief 12 Message to Unitholders 20 In Conversation with CEO 26 Key Trends Shaping Our Industry 28 Growth Strategies 32 Sustainability Highlights CONTENTS Performance 43 Financial Review 46 Capital Management 49 Investor Relations 52 Unit Price Performance 54 Operations Review Portfolio 64 Independent Market Research 74 Portfolio Summary 78 Portfolio Details 94 Tenants and Shoppers Engagement Framework 96 Sustainability Management 104 Risk Management 110 Corporate Governance Financials 146 Financial Statements 224 Additional Information 226 Statistics of Unitholdings 229 Porfolio Directory IBC Corporate Information

RkJQdWJsaXNoZXIy NTkwNzg=