CapitaLand Integrated Commercial Trust : FY 2025 Financial Results

About this update from Capitaland Integrated Commercial Trust

FY 2025 Financial Results 6 February 2026 FY 2025 Financial Results Agenda 01 Highlights 02 Financials & Capital Management 03 Portfolio & Asset Type Performance 04 Focus & Outlook 05 Sustainability 06 Market Information 07 Additional Information Raffles City Singapore CapitaLand Integrated Commercial Trust 3 01 Highlights Strong Performance for FY 2025 FINANCIAL PERFORMANCE FY 2025 Net Property Income (NPI) S$1,189.7M ▲ 3.1% YoY 2H 2025 S$609.9M NPI ▲ 6.8% YoY FY 2025 S$860.9M ▲ 14.4% YoY S$449.0M ▲ 16.4% YoY Distributable Income 2H 2025 Distributable Income FY 2025 11.58 cents ▲ 6.4% YoY 5.96 cents ▲ 9.4% YoY Distribution per Unit (DPU) 2H 2025 DPU CAPITAL MANAGEMENT Aggregate Leverage 38.6% ▼ 0.6 ppts vs 30 Sep 2025 Average Cost of Debt 3.2% ▼ 0.1 ppt vs 30 Sep 2025 VALUATION Portfolio Property Value S$27.4B 1 ▲ 5.2% YoY OPERATING METRICS Portfolio Occupancy 96.9% ▼ 0.3 ppts QoQ Portfolio WALE 3.0 Years ▼ 0.2 ppts QoQ OPERATING METRICS Retail Portfolio FY 2025 ▲ 6.6% Rent Reversion 2 Office Portfolio ▲ 6.6% ▲ 14.9% FY 2025 YoY Tenant Sales psf ▲ 1.2% YoY ex. ION Orchard ▲ 20.5% FY 2025 YoY Shopper Traffic ▲ 4.6% YoY ex. ION Orchard Above information as at 31 December 2025, unless otherwise stated. Portfolio property value as at 31 December 2025. Includes CICT's proportionate interest in Gallileo and Main Airport Center (94.9%, respectively), CapitaSky (70%), 101-103 Miller Street & Greenwood Plaza (50%) and ION Orchard (50%). Based on average committed rents for incoming leases versus average rents of expiring leases of Singapore portfolio. 5 Value Creation Journey DIVESTMENT Divested 45% interest in CapitaSpring's serviced residence component for S$126.0 million at an exit yield of ~3.6% ACQUISITION Acquired the remaining 55% interest in CapitaSpring's for S$1,045.0 million 1 DIVESTMENT Announced the sale of Bukit Panjang Plaza for S$428.0 million at an exit yield around the mid-4% level DEVELOPMENT Awarded Hougang Central site in joint bid, with full ownership to develop the commercial component 2025 ‒ 2026 AEI IMM Building completed S$48 million AEI in 3Q 2025 Gallileo completed progressive handover of Phase 1 (office tower) to major tenant in Dec 2025 Lot One Shoppers' Mall commenced S$37 million AEI targeting ROI of >7% Tampines Mall commenced S$24 million AEI targeting ROI of ~7% UPGRADING Raffles City Tower commenced upgrading to enhance overall user experience AEI - New Capital Tower will commence S$25 million AEI in 3Q 2026 to reposition Level 9 into a community space and create a higher-yielding F&B space on Level 1 AEI refers to asset enhancement initiative. 6 1. Based on 55% of the agreed property value of S$1,900.0 million. Divestment Highlights Divestment of Bukit Panjang Plaza for S$428.0 million 1 The sale is part of CICT's broader portfolio reconstitution strategy, where asset divestments may be considered to enable capital redeployment into potential growth opportunities, or other strategic purposes Premium 10% Against valuation of S$389.0M as at 31 Dec 2025 Premium Bukit Panjang Plaza is a suburban mall located in the northwest region of Singapore 165% Against purchase price of S$161.3M in 2007 Estimated Net Divestment Proceeds S$421.2M Gearing 2 38.6%→37.6% Exit Yield ~ mid- 4% level Expected Completion 1Q 2026 90 out of 91 strata lots held by CICT. Gearing would lower by 1%, assuming the divestment was completed on 31 December 2025. 7 ‌CICT & Consortium Awarded Hougang Central Site for Landmark Mixed-use Development Prime location In the heart of Hougang with sizeable catchment. First government land sales site in Hougang since 2019 Excellent connectivity Direct links to the bus interchange and the Mass Rapid Transit network via the North-East Line and the future Cross Island Line Surrounded by amenities Close to Punggol Community Club, Hougang Sports Centre, and Punggol Park. Several established primary schools are within 1 km and 2 km of the development Address demand from the precinct's underserved catchment New development will add ~300,000 sq ft of net lettable area( NLA) for retail and lifestyle concepts and ~830 residential units integrated with a bus interchange. Will feature sheltered public event space and diverse F&B offerings to enhance community vibrancy and placemaking Map of Hougang from OneMap SG by Singapore Land Authority Legend Hougang Central site Schools Parks Sports Centre Community centre 8 CICT will Develop and Own 100% of the Commercial Component Reinforcing foothold in our core market of Singapore, while expanding its retail footprint into Singapore's Overall Development northeast region Commercial Component Estimated NLA of Commercial Component ~300,000 sq ft Total Development Cost ~S$1.1 billion Yield on Cost Over 5% 1 Funding Internal fundings and external borrowings Target Completion 2030 / 2031 Location Hougang Avenue 10 / Hougang Central Land use Mixed-use development comprising a commercial and residential development integrated with a bus interchange Site area 504,820 sq ft Plot ratio 2.5 Tenure 99-year leasehold Tender price ~S$1.5 billion Greenfield Hougang Central site 9 Image source: Google street view 1. Based on the valuer's estimated net income, assuming completion of the commercial component and taking into consideration the estimated development cost of the commercial component. FY 2025 Financial Results Development Highlights Rationale for Development 1 Increased Exposure to Singapore Strengthens CICT's portfolio exposure in Singapore, leveraging development as a strategic growth driver to reinforce position as the proxy for commercial real estate in Singapore 2 Prime Location in the Heart of Hougang with Excellent Connectivity See slide 8 3 Establishing Strategic Foothold in the Northeast Region Marking entry into Singapore northeast where CICT has no presence Opportunity to expand retail footprint in Singapore where well-located suburban CapitaLand Integrated Commercial Trust Establishing presence in northeast region Hougang malls at transport nodes are tightly held and rarely available Legend CICT retail properties CICT office properties CICT integrated developments MRT Station East-West Line North-South Line North-East Line Circle Line Downtown Line Light Rail Transit Line Thomson-East Coast Line 10 CapitaLand Integrated Commercial Trust 10 y Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

View stock analysis, news, and events for Capitaland Integrated Commercial Trust