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CapitaMall Trust Management Limited As Manager of CapitaMall Trust Company Reg. No.: 200106159R 39 Robinson Road #18-01 Robinson Point TAMPINESSingapore MALL 068911 JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE TEL: FAX: +65 6536 1188 JCUBEEMAIL: HOUGANG PLAZA RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ +65 6536 3884 ORCHARwww.capitamall.com [email protected] CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEM- BAWANG SHOPPING CENTRE JCUBE HOUGANG PLAZA RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPU- RA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE HRIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SIN- GAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM This Report to Unitholders is printed on FSC BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGA- PORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITAL- IFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES TM certified paper. CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAF- FLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKITREALISING PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURAPO BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBERIVERVALE MALL BUGIS+ T EN RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL • BUKITIAL T PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION B 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURAUIL BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BU- D ING GIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ M ALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL A D JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZAECA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE D E O MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ F MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES E X MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDINGCELLENCE PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIV- ERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOP- PING CENTRE JCUBE HOUGANG PLAZA RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCContents- 01 TION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG DeterminationCorporate to Deliver Profile PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA04 BUGIS REALISING 06 JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL14 BUKIFinancial HighlightsT 16 Letter to Unitholders PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINESPO MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING 24 P LAZAYear inS BriefINGAPU- BUILDING A DECADE 30 Operations Review 37 Financial Review RA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALETEN MALLTIAL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’Risk & Capital Management MALL Passion forUnit Retail Price Performance BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM42 BUILDING PLAZA 44 49 Growth Strategies SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE HOUGANG PLAZA RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE Cohesion in Community OF EXCELLENCE 50 Independent Retail Market Overview Singapore REIT Sector 74 Vision for theMarketing Future & Promotions 75 Sustainability 56 78 Environment 57 81 People & Community 58 Trust Structure 97 Corporate Governance 70 Organisation Structure 99 Investor & Media Relations 71 Board of Directors 102 Trust Management Team Tenant Spotlight Property Management Team Dedication Meetingto Growth Our Shoppers 106 108 110 Portfolio at a Glance 140 Portfolio Summary 142 Portfolio Details Development Property InformationCapitaRetail relating to China Financials Trust 145 215 217 Financial Statements Unitholders’ Statistics Others Interested Person Transactions 218 219 220 Mall Directory Corporate Information Glossary CapitaMall Trust Management Limited As Manager of CapitaMall Trust Company Reg. No.: 200106159R 39 Robinson Road #18-01 Robinson Point TAMPINESSingapore MALL 068911 JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE TEL: FAX: +65 6536 1188 JCUBEEMAIL: HOUGANG PLAZA RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ +65 6536 3884 ORCHARwww.capitamall.com [email protected] CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEM- BAWANG SHOPPING CENTRE JCUBE HOUGANG PLAZA RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPU- RA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE HRIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SIN- GAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM This Report to Unitholders is printed on FSC BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES CITY SINGA- PORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITAL- IFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAFFLES TM certified paper. CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BUGIS+ RAF- FLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKITREALISING PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURAPO BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBERIVERVALE MALL BUGIS+ T EN RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL • BUKITIAL T PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION B 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZA SINGAPURAUIL BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE MALL BU- D ING GIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ M ALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL A D JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDING PLAZAECA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIVERVALE D E O MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ F MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES E X MALL JUNCTION 8 FUNAN DIGITALIFE MALL IMM BUILDINGCELLENCE PLAZA SINGAPURA BUGIS JUNCTION SEMBAWANG SHOPPING CENTRE JCUBE RIV- ERVALE MALL BUGIS+ RAFFLES CITY SINGAPORE LOT ONE Shoppers’ MALL BUKIT PANJANG PLAZA THE AtRIUM@ORCHARD CLARKE QUAY TAMPINES MALL JUNCTION 8 FUNAN DIGITALIFE MALL