Capitaland Integrated Commercial Trust · SGX:C38U
Capitaland Integrated Commercial Trust — Capitaland Integrtd Unit — Q1 2026 Earnings Presentation
41 slides from Capitaland Integrated Commercial Trust's earnings presentation, Apr 24, 2026
Slide 1: 1Q 2026 Business Updates
1Q 2026 Business Updates 24 April 2026
Slide 2: Disclaimer
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Disclaimer This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertaintie
Slide 3: Agenda
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Agenda 01 Highlights 02 Financials & Capital Management 03 Portfolio & Asset Type Performance 04 Focus & Outlook 05 Sustainability 06 Market Information Raffles City Singapore 3
Slide 4: Highlights
01 Highlights
Slide 5: Stable Performance for 1Q 2026
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Stable Performance for 1Q 2026 FINANCIAL PERFORMANCE OPERATING METRICS OPERATING METRICS 1Q 2026 Net Property S$314.4M Portfolio 95.2% 1Q 2026 Tenant ▲ 2.2% Income ▲ 7.9% YoY Occupancy ▼ 1.7% QoQ Sales psf YoY (NPI) CAPITAL MANAGEMENT ▲
Slide 6: Proposed Acquisition of 100% Interest in Paragon
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Proposed Acquisition of 100% Interest in Paragon A premier freehold integrated retail and office / medical development in Orchard Road Proposed acquisition of 100% interest in Paragon Trust and Orchard 290 (Paragon) from Cuscaden Peak1
Slide 7: Redeploying AST2 Sale Proceeds into Higher-yielding, DPU-accretive Paragon
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Redeploying AST2 Sale Proceeds into Higher-yielding, DPU-accretive Paragon Redeploying capital into Paragon at a higher yield Exit Yield of AST21 Net Yield of Paragon2 3.0% 3.9% (81 years remaining leasehold) (Freehold) Divestment for S
Slide 8: Asset Enhancement at Plaza Singapura and The Atrium@Orchard
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Asset Enhancement at Plaza Singapura and The Atrium@Orchard Shaping Orchard Road’s next generation retail destination Rationale for Asset Enhancement • Elevate positioning with infrastructure upgrades and refreshed tenancy mix catering
Slide 9: Asset Enhancement at Plaza Singapura and The Atrium@Orchard
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Asset Enhancement at Plaza Singapura and The Atrium@Orchard Artist’s impression of the mall post-enhancement Exciting retail/dining concepts and offerings Socially inclusive design features integrated with greenery Level 1 entrance faci
Slide 10: Financials & Capital Management
02 Financials & Capital Management
Slide 11: 1Q 2026 Financial Performance
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust 1Q 2026 Financial Performance1 Stronger 1Q 2026 YoY largely due to the step-up acquisition to a 100% interest in CapitaSpring and contribution from Gallileo 1Q 2026 1Q 2026 Gross Revenue NPI S$426.7 M ▲ 8.0% YoY S$314.4 M ▲ 7.9% YoY Ret
Slide 12: Proactive Capital Management
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Proactive Capital Management As at 31 March 2026 As at 31 Dec 2025 Aggregate Leverage1 38.5% 38.6% Total Borrowings (S$ billion) 9.8 10.0 % of Borrowings on Fixed Interest Rate 76% 74% % of Total Assets that are Unencumbered 90.7% 90.9%
Slide 13: Well Spread Debt Maturity Profile
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Well Spread Debt Maturity Profile1 Exclude share of JV’s borrowings 22% Funding sources 2,290 MTN 40% 18% Unsecured bank loans 50% 1,869 814 15% 15% 1,629 Secured bank loans 10% 1,550 Interest rate sensitivity S$ million 10% 1,108 assum
Slide 14: Portfolio & Asset Type Performance
03 Portfolio & Asset Type Performance
Slide 15: Committed Occupancy
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Portfolio Occupancy and WALE Overall occupancy remains stable1 RETAIL2 OFFICE INTEGRATED PORTFOLIO 2 DEVELOPMENT Committed Occupancy 3 3 98.7% 97.8% 95.7% 97.7% 96.0% 96.9% 95.2% 93.7% 31 Dec 2025 31 Mar 2026 WALE 1.9 years 3.1 years 4.
Slide 16: Portfolio Top Tenants
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Portfolio Portfolio Top 10 Tenants Stable QoQ, with no single tenant contributing over 5% of total gross rental income % of Total Top 10 Tenants for Mar 2026 Trade Sector Gross Rental Income 1 RC Hotels (Pte) Ltd 4.6 Hotel 2 GIC Private
Slide 17: Portfolio Lease Expiry Profile
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Portfolio Portfolio Lease Expiry Profile Proactively managing leases to ensure well spread portfolio lease expiry Leases in advanced negotiation: Retail 4.3% | Office 1.6% 16.5% 13.1% 11.4% 11.7% 8.7% 7.9% 7.6% 5.1% 6.0% 4.5% 2.8% 2.4%
Slide 18: Healthy Leasing Activity Across Portfolio
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Portfolio Healthy Leasing Activity Across Portfolio RETAIL OFFICE Of which, new leases made Of which, new leases made Total New/Renewed Total 1Q 339,800 up 11.1%, mainly from: 1Q 121,300 up 53.1%, mainly from: Leases1 – Food & Beverages
Slide 19: Sustaining High Retail Occupancy
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Retail Sustaining High Retail Occupancy Retail portfolio reported higher occupancy than URA’s Singapore retail occupancy rate of 93.7%1 2 2 SUBURBAN DOWNTOWN RETAIL PORTFOLIO 3 3 99.3% 99.2% 98.3% 96.8% 98.7% 97.8% As at 31 Dec 2025 As
Slide 20: Positive Rent Reversion for 1Q 2026
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Retail Positive Rent Reversion for 1Q 2026 To maintain a positive but sustainable pace for the next few quarters 1Q 2026 Based on Net Lettable Area Rent Reversion1 Average Incoming Rents No. of Renewals Retention Area Percentage of Reta
Slide 21: Healthy Tenant Sales
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Retail Healthy Tenant Sales Steady YoY growth, led by stronger momentum in suburban malls Tenant Sales1 (psf) Top Trade Categories Performance Portfolio Portfolio +2.2% Portfolio Stable 1Q increase supported by seasonal promotions, incr
Slide 22: Refreshing Retail Experience through New Concepts
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Retail Refreshing Retail Experience through New Concepts sio pasta, Shiseido, Prada (Beauty), SGFR, Raffles City Singapore (NTM): Tampines Mall (Standalone Store): Raffles City Singapore (NTP): Bedok Mall (NTP): Michelin-recognised casu
Slide 23: Active Leasing in Progress
1Q 2026 Business Updates CapitaLand Integrated CapitaLand Commercial Integrated CommercialTrust Trust Office Active Leasing in Progress CICT OFFICE PORTFOLIO ► 1Q 2026 major renewals/new leases include: SINGAPORE GERMANY AUSTRALIA PORTFOLIO CBRE Core CBD CBRE Frankfurt • Princeton Digital Group (Sin
Slide 24: Focus & Outlook
04 Focus & Outlook
Slide 25: Positioned for Growth, Anchored by Resilient Fundamentals and Disciplined Focus
1Q 2026 Business Updates CapitaLand Integrated CapitaLand Commercial Integrated CommercialTrust Trust Positioned for Growth, Anchored by Resilient Fundamentals and Disciplined Focus INCOME OUTLOOK BUILDING ORGANIC & INORGANIC GROWTH CapitaSpring: 100% income contribution from Portfolio reconstitutio
Slide 26: CICT's Value Creation Strategy
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust CICT’s Value Creation Strategy To deliver stable distributions and sustainable returns to unitholders Strengthening Asset Capital Unlocking Value Driving Growth Portfolio Enhancement Management • Optimise rental rate and • Achieve the h
Slide 27: Sustainability
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Slide 28: Reducing our Environmental Impact
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Reducing our Environmental Impact ADVANCING OUR LOW CARBON TRANSITION GREENING OUR PORTFOLIO 2030 TARGET 2025 PROGRESS Reduce Absolute Scope 1 & 2 GHG Emissions by 46%1 13% EDGE LEED Green Star Reduction targets are based on 2019 baseli
Slide 29: Curating Shared Experiences That Strengthen Community Bonds and Foster Engagements
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Curating Shared Experiences That Strengthen Community Bonds and Foster Engagements Jan - Feb Feb Feb Feb - Feb Mar Void (Deck) The Walls – CNY Great Fortune Hunt @ Capital 958 Roadshow @ LEGO Pop-Up @ Bugis+: SEVENTEEN Pop-Up @ Light to
Slide 30: Market Information
06 Market Information
Slide 31: Macroeconomic Outlook
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Macroeconomic Outlook AUSTRALIA GDP SINGAPORE 2025 2026 Forecast GDP 2.6% YoY 2.3% YoY 1Q 2026 (Advance Estimates) 2026 Forecast Inflation Unemployment 4.6% YoY 2.0% to 4.0% YoY Feb 2026 Mar 2026 MAS Core Inflation 3.7% YoY 4.3% Mar 202
Slide 32: Resilient Retail Rents Supported by Limited Retail Supply
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Resilient Retail Rents Supported by Limited Retail Supply SINGAPORE PRIVATE RETAIL SPACE (ISLANDWIDE)1 – NET DEMAND & SUPPLY Forecast average (sq ft million) annual gross new supply (2026 to 2028): 0.3 mil sq ft 1.8 1.0 1.0 0.9 1.0 0.9
Slide 33: Future Retail Supply in Singapore (2026 – 2028)
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Future Retail Supply in Singapore (2026 – 2028) Limited retail supply expected from 2026 to 2028 with no major new developments Expected Proposed Retail Projects Submarket Location NLA (sq ft) Completion Tanjong Katong Complex (A/A) - P
Slide 34: Singapore Retail Sales Performance
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Singapore Retail Sales Performance In Feb 2026, YoY sales growth was mainly driven by Supermarkets & Hypermarkets (+29.3%), Recreational Goods (+26.0%) and Department Stores (+16.8%), and Watches & Jewellery (+13.5%) 2019 2022 2023 2024
Slide 35: Singapore Tourism Activity
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Singapore Tourism Activity Tourism sector recorded steady growth in 2025, with YTD Sep tourism receipts showing the highest YoY increase of 6.5% SINGAPORE TOURIST ARRIVAL AND TOURISM RECEIPTS TOURIST ARRIVALS BY TOP 5 GEOGRAPHIES 32.5 (
Slide 36: Grade A Office Rents Up by 2.9% YoY in 1Q 2026
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Grade A Office Rents Up by 2.9% YoY in 1Q 2026 Forecast average SINGAPORE PRIVATE OFFICE SPACE (CENTRAL AREA)1 – NET DEMAND & SUPPLY annual gross new supply (2026 to 2028): 1.0 mil sq ft 1.9 1.9 2.1 1.7 0.9 sq ft million 0.8 0.8 0.7 0.7
Slide 37: Future Office Supply in Central Area (2026 – 2028)
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Future Office Supply in Central Area (2026 – 2028) Limited new supply in CBD Core1; no commercial sites in CBD Core on the Government Land Sales reserve list and confirmed list2 Expected Proposed Office Projects Submarket Location NLA (
Slide 38: Frankfurt Office Market
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust 1Q 2026Frankfurt Office Market 1Q 2026: 69,400 sq m Stable at €55 per sqm/month CBRE expects easing volume to Driven by a single 19,600 sq m reach ~400k sq m, which is largely in Following strong increase in the prime owner-occupier tra
Slide 39: Sydney CBD 1Q 2026
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust Sydney CBD 1Q 2026 Positive leasing demand for 9th consecutive quarter No completions in Positive net absorption of 175,500 sq m of stock is under 1Q 2026 ~30,000 sq m driven by + 4.6% QoQ construction across four large tenant (>1,000sq
Slide 40: North Sydney CBD 1Q 2026
1Q 2026 Business Updates CapitaLand Integrated Commercial Trust North Sydney CBD 1Q 2026 Positive net absorption over the quarter; no new supply through 2029 No major completion Positive net absorption in 1Q 2026. Limited future supply mainly driven by small + 3.3% QoQ will allow time for Total supp
Slide 41: Thank You
Thank You For enquiries, please contact: Ms Allison Chen, Investor Relations Direct: (65) 6713 1502 | Email: allison.chen@capitaland.com CapitaLand Integrated Commercial Trust Management Limited Tel: (65) 6713 2888 | Fax: (65) 6713 2999 cict.com.sg
Capitaland Integrtd Unit — Q1 2026 Earnings Presentation on 6ix