Operations Review BUSINESS PARKS Business Park Lease Expiry Profile To better manage its lease maturities, CLCT actively engages tenants ahead of lease expiries. The business park leases due in the next two years in FY 2025 and FY 2026 account for 38.7% and 28.2% of CLCT’s business park portfolio GRI respectively. The WALE and lease expiry profile by business park property are as follows: Weighted Average Lease Expiry by Business Park Property (as at 31 December 2024) Weighted Expiry (by Gross Rental Income) Years Weighted Expiry (by Net Lettable Area) Years Ascendas Xinsu Portfolio 1.7 1.7 Singapore-Hangzhou Science Technology Park Phase I 1.3 1.2 Singapore-Hangzhou Science Technology Park Phase II 2.2 2.3 Ascendas Innovation Towers 1.7 1.7 Ascendas Innovation Hub 1.4 1.5 CLCT Business Park Portfolio 1.7 1.8 Lease Expiry Profile for 2025 by Business Park Property (as at 31 December 2024) No. of leases % of Gross Rental Income % of Net Lettable Area Ascendas Xinsu Portfolio 133 43.9% 43.1% Singapore-Hangzhou Science Technology Park Phase I 84 57.7% 55.1% Singapore-Hangzhou Science Technology Park Phase II 23 9.0% 7.8% Ascendas Innovation Towers 43 38.5% 38.1% Ascendas Innovation Hub 21 36.5% 35.1% CLCT Business Park Portfolio 304 38.7% 37.6% Business Park Occupancy As at 31 December 2024, the business park portfolio registered a committed occupancy rate of 87.6%, exceeding China’s average business park occupancy rate of 65.2%6. Committed Occupancy Rates As at 31 December 2024 % As at 31 December 2023 % Ascendas Xinsu Portfolio 96.6 97.5 Singapore-Hangzhou Science Technology Park Phase I 74.6 72.4 Singapore-Hangzhou Science Technology Park Phase II 84.4 89.0 Ascendas Innovation Towers 71.8 90.1 Ascendas Innovation Hub 89.6 89.0 CLCT Business Park Portfolio 87.6 91.0 6 Colliers China Independent Market Research for CLCT’s Annual Report 2024. 32 CapitaLand China Trust
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