9 Annual Report 2024 Value Created Value created in FY 2024 Our Stakeholders Internal and External Stakeholders UNLOCK VALUE ◆ Completed divestment of CapitaMall Shuangjing with an exit yield of 2.8%, strengthening CLCT’s balance sheet and financial capacity. PROACTIVE CAPITAL MANAGEMENT Maintained aggregate leverage of 41.9% and improved average cost of debt of 3.51%. Capitalised on easing RMB interest rates by issuing a RMB400 million bond due 2027 at 2.9% p.a. in October 2024, to replace higherinterest SGD loans. Increased RMB-denominated debt to ~35%1 of CLCT’s loan book, progressing towards our 2025 target of 50%. Leveraged the Sustainability-Linked Finance Framework to increase sustainable financing to 42% in December 2024. EXTRACT VALUE Completed 3 reconfigurations in CapitaMall Xizhimen, CapitaMall Xuefu and Rock Square ranging from 170 sq m to 1,700 sq m to replace tenants with trending retailers. Benefitted from blended return on investment of ~14% across the 3 retail malls that underwent AEIs in 2023 (CapitaMall Yuhuating, Rock Square, CapitaMall Grand Canyon). Employees Investment Community Tenants and Shoppers Supply Chain Community 1 Includes FTZ Bond, RMB Bond as well as Cross Currency Interest Rate Swaps (CCIRS) on SGD loans to RMB. Including forward hedges as at 31 December 2024, total RMB as % of Total Debt is approximately 38%.
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