CapitaMalls Asia Limited Asia’s Leading Mall Developer, Owner and Manager

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Acquisition of Shopping Mall in Guangzhou 20 November 2013 Disclaimer

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2 CapitaMalls Asia Limited Presentation – 20 November 2013 Contents

• Executive Summary • Project Highlights • Investment Rationale • Appendix

3 CapitaMalls Asia Limited Presentation – 20 November 2013 Executive Summary

 CMA acquires 1st shopping mall in Guangzhou, capital city of Guangdong province

 Landmark shopping mall strategically located in thriving Baiyun District

 Direct connection to subway Line 2 and future Line 12

 Quality retail space and differentiated offering to meet untapped demand

 Targeted phased opening from 2014

 Acquisition to enhance CMA’s presence in key gateway cities, building meaningful scale and long-term growth

4 CapitaMalls Asia Limited Presentation – 20 November 2013 Project Highlights

CapitaMalls Asia Limited Presentation – 20 November 2013 Artist Impression (subject to change) Project Details

Located at the intersection of Yuncheng West Road and Qixin Location Road in the Baiyun New Town, Strata Guangzhou Office

An eight-storey shopping mall Subway

Description (from Basement 2 to Level 6), that is Strata Retail Subject part of an integrated development1 Property Property

39,780 sq m Site Area (entire integrated development) Land Use Tenure 40 years, expiring in 2051

GFA (excluding car park) ~86,000 sq m

Subway No. of Car Park Spaces ~1,620 in total2

Project Acquisition Cost RMB 2,191 mil

~RMB 2,646 mil Subject Total Investment Cost Property Targeted Opening From 2014 in phases

(1) The integrated development also comprises an office tower (73,887 sq m) and a retail podium (37,192 sq m), both of which have been strata-titled and sold. (2) Refers to the number of total parking spaces in the entire integrated development project.

6 CapitaMalls Asia Limited Presentation – 20 November 2013 Location and Surrounding

Guangzhou Art Museum, Urban Planning Museum G5 High-end Residential

Cultural Centre Guangzhou Children Park

Int’l Conference Center

Commercial Centre

G5 Mall

Guangzhou Stadium

Subject Subway Property Station Baiyun Wanda Plaza

7 CapitaMalls Asia Limited Presentation – 20 November 2013 Strategically Located in Northern Guangzhou

Strong economic fundamentals with good growth potential

• Baiyun District – thriving region with healthy economic fundamentals  Guangzhou’s most populous district with >2.2 mil people  GDP ranks 5th amongst Guangzhou’s 12 districts  Urban disposable income per capita of RMB 37,028 is higher than Beijing, growing at an average of 11.1% p.a.  Aviation hub of south China; robust economic base underpinned by aerospace and logistics industries, as well as tertiary services

GDP Retail Sales Urban Disposable Income per Capita

RMB’mil RMB' mil RMB'000 14 37 8 7.60 40 11.90 33 12 10.76 6.69 35 7 30 9.39 5.80 10 6 30 27 8.09 4.79 24 8 7.22 5 4.21 25 4 20 6 3 15 4 2 10 2 1 5 0 0 0 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012

Source: Baiyun District Statistics Bureau, Guangzhou, 2012

8 CapitaMalls Asia Limited Presentation – 20 November 2013 Strategically Located in Northern Guangzhou

Excellent connectivity and accessibility via public transport

Zhixing Yangshen Xinhe Taiping Shengang Jiaocun Jiangpu Jiekou Sports Vally Wenquan Vally Feieling Huadu Car Guangzhou Huacheng Huaguo Huadu Ma’anshan Qingbu Airport Guangzhou Baiyun Town North Road Park Square Park South Liangkou • Direct subway connection Station Gaozeng Zhishicheng InternationalShihu AirportNorth Baiyun Village Lake Renhe Licheng Zhishicheng Dongping to interchange of key Tinggang Longgui Jingkeng Zhenlong Zhucun Licheng West Zhishicheng Zengcheng Henan Yongtai South Shijing Zhenlong West Zhongxin Hantang Square Tonghe Changping Huangshi Huangbian Jiahewang Baiyun Ave Zengcheng subway lines Huanggang Pingsha Jiangxia gang North Statium Village Southern Hezui Julong Changxi Gangbei Hospital LineLine 22 Longdong kemuai Gaotang Huangpo Xiangshan Kexue Wengang Luogang Xiangxue Xiangxue Yonghe Stone Road Town Park Line 12 Meihua East Guangben  Direct access to Baiyun Park Science Henglv Park Zhuji Institution Road Shitang Songbei Tianpingjia Wushan Tongdewei Xunfenggang Xiatangxi subway station at Basement 1 Yantang Tianhe Ziyuangang Shaheding Shahe Station Xiancun Hengzhigan Huashi Guangzhou Railway Huanghuag Tianhe East g ang and 2 Guangzhou Shapu E. Railway Station Xiaobei Taojing Quzhuang Sports Gangding Station Xintang Zoo Park Centre Youkesuo Shabei Linhexi North Xichang Yuexiu Park Cangbian Nonglinxia Tiyu W. Shipaiqiao Xiangjingling Tangguan  Baiyun Station is to be Tianhe Park Road Jiansheliu Rood Road Xintang

Shipai South Jida Tangdong Chepo Provincial and Yangbo Dongzhou Southern interchange for Line 2 and Paper City Government Nongjiangsuo lieshilingyu Dongshankou Peral River New Town Zhucun an Wenyong Siyou Haizhu Square Road Wuyangtun upcoming Line 12 Lukou Ruyifang Ershan Chepo East Pearl River Yide Rd Beijing Road Yuexiu South Island South Nangang Lake Sanxi Dashadi Dasha East Wenchong Huakeng Huangsha Culture Lion Hill Park New Town CBD Dongpu Yuzhu Shuanggang Shiweiqiang Chigang Xiayuan Tower  Line 2 connects to Guangzhou Tangtou Tongfu Pearl River Fangcun West Swimming Bingjiang Xingang Fengle Pool East Wenyuan Miaotou Xiagang Phinex New Chigang Modiesha East Pizhou Road Foshan West Village Huadihai Railway Station, Guangzhou Railway Xiaogang Zhongda Lujiang Kecun Xinzhou Station Changgang Huangpu Chishawo Cangtou Shayuan Station Luocun Kengkou Shayong Taiyong Changzhou Baogang Ave Ruibao Qingfang Chifang Jude South High-Speed Railway Jiangtai Road Village cheng Middle School Airport Rd. Hedong Xilang University Town Yangang Yijingcuiyuan Datang Shiliugang Guanzhou East Jiaobian Dongxiaonan Station, and the provincial and Hedong Nanshi East Road

Foshan Shixi Railway Nanzhou Lilu city government offices Station Dielu Dongsha Guangzhou University Nanhai Luoxi Xialu Stadium  9 stops from Guangzhou Baiyun Nangui Town Road Qingliu Guicheng Flower Zhenan Chencun Dashi International Airport World Nanzhuang Nanpu Nancun Nansha Port TV Tower Zirun Tunjiao Hanxichanglong Lujing Titian Shencun Huijiang Zhongcun Hezhuang Guantang Weiyong Liantang Xiecun Information Park Shiqiao Zhangcuo Wanhua Guangzhou Tangkeng Xiaoyong South Railway Subject Shiwan Staition Guangzhou South High- Guangzhou New Qianfeng Village Wugang Dongping Town West Property New Towrn Speed Rail Station Jiaomen Jinzhou Dayong Guanglong

Lanshi Shijielian Djiao Zicun Beigu Sanhongqi Lunjiao Xingu Daliang Shunde Diefeng Ronggui Ronggui Source: Guangzhou Subway Plan 2020 Station Hill Station

9 CapitaMalls Asia Limited Presentation – 20 November 2013 Large Catchment with Strong Spending Power

From immediate and surrounding population

• Catchment of ~1.1 mil residents within 3 km • Strong commuters traffic from surrounding residential communities and universities

Subway Subway Line 2 Line 14

Guangdong Foreign Language & Trade University

1km Dense Residential High-end Residential Subway Line 12 3km Subject Property

Dense Residential Communities

Guangzhou Traditional Chinese Medicine University Dense Residential

10 CapitaMalls Asia Limited Presentation – 20 November 2013 Large Catchment with Strong Spending Power

Workers and professionals from surrounding upcoming offices

Baiyun Culture Square Station Subject Property

Baiyun Park Station 1

2 3

Subject Property

Subway 1 Future office for China Southern Fei Xiang Park Line 2 Airlines Station 2 Office/Commercial project 3 Future office for Guangdong Airport Group

11 CapitaMalls Asia Limited Presentation – 20 November 2013 Landmark Mall with Differentiated Retail Offering

Excellent visibility with adjoining 200 m office tower

150m 200m 130m

130m

150m Subject Property

70m70m

70m

Artist Impression (subject to change)

12 CapitaMalls Asia Limited Presentation – 20 November 2013 Landmark Mall with Differentiated Retail Offering Mid-to-high end lifestyle mall with comprehensive offerings to shoppers Quality retail space for retailers with growth aspirations

Artist Impression (subject to change) Artist Impression (subject to change)

13 CapitaMalls Asia Limited Presentation – 20 November 2013 Building Scale in China

North ● CapitaMall Anzhen, Beijing • Strategic entry into first-tier city ● CapitaMall Crystal, Beijing ● CapitaMall Cuiwei, Beijing in South China ● CapitaMall Shuangjing, Beijing ● CapitaMall Taiyanggong, Beijing ● CapitaMall Tiangongyuan, Beijing  Guangzhou has the most ● CapitaMall Wangjing, Beijing Central ● CapitaMall Xizhimen, Beijing developed economy in Pearl River ● CapitaMall 1818, Wuhan ● Grand Canyon Mall, Beijing ● Gutian Site, Wuhan ● Raffles City Beijing, Beijing Delta ● CapitaMall Minzhongleyuan, Wuhan  Consistently strong economy ● CapitaMall Wusheng, Wuhan supported by both privately- East ● Hongkou Plaza, Shanghai owned enterprises and Beijing ● Luwan Integrated Development, Shanghai government ● Minhang Plaza, Shanghai ● CapitaMall Qibao, Suzhou Wuhan Shanghai • Entrench presence in key ● Suzhou Integrated Chengdu Development, Suzhou regions ● Raffles City Changning, Shanghai Shanghai  Build market share in South China ● Raffles City Shanghai, Chongqing Shanghai th 1 West with 8 shopping mall ● CapitaMall Jinniu, Chengdu ● CapitaMall Jiulongpo, Chongqing Guangzhou  Enhance retail network to ● CapitaMall Meilicheng, Chengdu ● CapitaMall Shawan, Chengdu achieve scalability and long- ● CapitaMall Shapingba, Chongqing ● CapitaMall Tianfu, Chengdu term growth ● Raffles City Chengdu, Chengdu ● Raffles City Chongqing, Chongqing

(1) The other seven malls in South China are CapitaMall Dongguan in Dongguan, CapitaMall Guicheng in Foshan, CapitaMall Maoming in Maoming, CapitaMall Quanzhou in Quanzhou, CapitaMall Zhangzhou in Zhangzhou, CapitaMall Zhanjiang in Zhanjiang, and CapitaMall Zhaoqing in Zhaoqing. 14 CapitaMalls Asia Limited Presentation – 20 November 2013 Investment Rationale

1 Attractive landmark shopping mall

 Strategically located in the core commercial centre of Baiyun District

 Large catchment with strong spending power

 Differentiated retail offerings for underserved shoppers and retailers

2 Steadfast project execution and delivery

 Targeted phased opening from 2014

3 Build scale in key gateway cities

 Strategic entry into a first-tier city in South China

 Cluster of 4 shopping malls1 within an hour’s drive

(1) The four malls are CapitaMall Dongguan, CapitaMall Guicheng, CapitaMall Zhaoqing and this subject property.

15 CapitaMalls Asia Limited Presentation – 20 November 2013 Appendix Baiyun New Town & Baiyun District Snapshot

 Baiyun District is the most populous district in Guangzhou with a total residential population of 2.2 million

Baiyun  It has the fifth largest GDP in Guangzhou with 13.3% CAGR over the District past 5 years  The total retail sales reached RMB76.03 billion in 2012 with 15.9% CAGR over past 5 years  Organizations headquartered in the Baiyun District include China Southern Airlines and the Guangdong Airport Authority

 Baiyun New Town is positioned as the new regional centre

of northern Guangzhou Baiyun New Town  It is ~8 km from the central business district at Pearl River New Town and 23 km from Guangzhou Baiyun International Airport  This 9 sq km new town includes high-end residential developments, a new commercial center, conference, Pearl River New Town cultural and leisure facilities

17 CapitaMalls Asia Limited Presentation – 20 November 2013 Background of Guangdong Province & Guangzhou

Guangdong has delivered highest GDP for 24 consecutive years

RMB’ trillion 6.0 Province GDP 2012 5.0 4.0 3.0 5.71 5.41 5.00 2.0 CHINA 3.46 2.98 1.0 2.66 2.48 2.38 2.23 2.22 0.0

Guangdong Province Guangzhou has the 2nd largest GDP per capita and top consumer spending per capita among the 4 first-tier cities

RMB’ trillion RMB’000 RMB’000 140 City GDP per capita Consumer Spending per capita Guangzhou 2.5 City GDP 35 120 30 2 100 25 1.5 80 20 123.25 1 2.01 60 105.86 15 30.49 1.78 87.09 26.73 26.25 24.05 1.36 1.30 40 85.00 10 0.5 20 5 0 0 0

Core Area • Guangzhou’s retail sales of consumer goods increased 15.2% in 2012 over previous year, faster than Shanghai (9%) and Beijing (11.6%) • GDP grew 10.5% in 2012 year-on-year, higher than Shanghai (7.5%) and Beijing (7.7%)

Source: Statistics Bureaux of Beijing, Shanghai, Guangzhou, Shenzhen, Guangdong, Jiangsu, Shandong, Zhejiang, Henan, Hebei, Liaoning, Sichuan, Hubei, Hunan, 2012 18 CapitaMalls Asia Limited Presentation – 20 November 2013 Thank You

Thank You

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