CapitaLand Limited, CapitaMalls Asia Limited & CapitaMall Trust

Acquisition of Gateway Site 1 June 2011 Disclaimer This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events.

The information contained in this presentation has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither the CapitaLand Limited (“CL”), CapitaMalls Asia (“CMA”), CapitaMall Trust Management Limited (the “Manager”) or any of their affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation. The past performance of CL, CMA and CapitaMall Trust (“CMT”) is not indicative of their future performance. Similarly, the past performance of the Manager is not indicative of the future performance of the Manager.

The value of shares in CL and CMA (“Shares”) and in the units in CMT (“Units”), and the income derived from them, may fall as well as rise. Shares and Units are not obligations of, deposits in, or guaranteed by, CL, CMA or the Manager, or any of their affiliates. An investment in Shares or Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that holders of Units (Unitholders) may only deal in their Units through trading on Exchange Securities Trading Limited (the “SGX-ST”). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Shares or Units.

2 Contents

• Project Highlights • Project Details • Rationale for Acquisition • Summary

3 Project Highlights

4 Acquisition of Jurong Gateway Site … Prime Location within Singapore’s Largest Regional Centre at

JCube (formerly Jurong Entertainment Centre)

Jurong Gateway Site

5 … Will Create a “3-in-1” Mega Mall in Jurong Bringing Value, Entertainment and Lifestyle Experiences • Acquisition increases our Jurong retail NLA to 1 million sq ft • Offers more than 2,200 car park spaces • 3 malls within 3 minutes’ drive from each other

3 Family & Lifestyle Mall IMM

IMM Building Jurong 2 Gateway Value-Focused Mall 1 Site

JCube Family & Lifestyle Mall JCube Entertainment- Focused Mall

6 Site Information

Site Area 195,465 sq ft Tenure 99 years Plot Ratio 4.9 White

Zoning / Land Use Minimum 40% for office use Remaining for retail/ hotel/ residential/ additional office uses Winning Tender Price S$969 million (S$1,012 psf ppr)

7 Development Details

Shopping Mall Office

Permissible GFA Approx. 960,000 sq ft

GFA 575,000 sq ft 383,000 sq ft

% of Permissible GFA Maximum of 60% Minimum of 40%

Total Development Cost Approx. S$1.5 billion

Target Opening December 2013 December 2014

Yield on Cost Approx. 6.0% Approx. 6.0% Approx. S$2,800 – 3,000 Approx. S$1,100 – 1,200 Capital Value psf NLA psf NLA

8 Schematic Diagram of Development

Conveniently Located; A Perfect Place for Work and Play

Office component with approximately 20 floors of quality office space

L2 is also connected to Roof Garden future Ng Teng Fong on L5 Hospital

L5

RETAIL L4 RETAIL L3 RETAIL L2 L1 direct access RETAIL L1 to RETAIL B1 Bus Interchange L1 and L2 direct access to 9 Jurong East MRT Interchange Project Details

10 Jurong Lake District Masterplan Prime Site in Jurong Gateway

Jurong Gateway Site

Source: Urban Redevelopment Authority

11 Transformation of Jurong Lake District

Jurong Gateway Precinct Lakeside Precinct (> 70 hectares of land) (>220 hectares of land and 70 hectares of Jurong Lake) • 500,000 sq m of office space and 250,000 sq m of • Waterfront Playground retail, F&B and entertainment area • Science Centre will move next to Chinese Garden • Approximately 2,800 hotel rooms MRT Station • At least 1,000 new homes • Kayaking, dragon boating, wetlands • New lakeside village Source: Urban Redevelopment Authority

12 Well-Served by Public Transport Sited Beside Jurong East MRT and Bus Interchange and Accessible via AYE and PIE Approximately 20 minutes’ Drive or Train Ride to CBD

North-South Line

Jurong Gateway Site

East-West Line

13 Rationale for the Acquisition

14 Rationale for the Acquisition

1 Most Prime Site in Jurong Gateway

2 Large Population Catchment

A “3-in-1” Shopping Mall in Singapore’s Largest 3 Regional Hub

Leveraging on and Strengthening Our Foothold in 4 Western Singapore

5 Lack of Quality Office Space in Jurong 5

15 1 Most Prime Site in Jurong Gateway

Strong Historical Performance in Tampines Regional Centre Indicative of Strong Growth Potential of Site

Performance of 2000 2010 % Change

Occupancy Rate1 99.9% 100.0% 0.1% pt

NPI (S$ million)1 25.0 46.8 87.2%

Valuation (S$ million)1 328.0 792.0 141.5%

Jurong Gateway: Largest Regional Centre 2.5x Tampines Regional Centre

1) As at 31 December of the respective year.

16 1 Most Prime Site in Jurong Gateway

Steady Uptrend in Tampines Mall’s Net Property Income & Valuation Since 2000

50 900

45 800

40 700

35 600 30 500 25 400 20 300 15

200 10

5 100

0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Net Property Income Valuation

17 1 Most Prime Site in Jurong Gateway

5 Seamless Direct Connections To Main Transport Nodes and Nearby Amenities

Proposed Ng Teng Fong Existing Hospital Jurong East Bus Interchange Jurong Gateway Site

Site 1 Sold in June 2010 Jurong East MRT Interchange (EW24 / NS1)

Legend: L1 Access to transport networks L2 Access to MRT, Site 1 & hospital

18 1 Most Prime Site in Jurong Gateway

Complementary Position vis-à-vis Site 1

Jurong Gateway Site 5-Storey Mall (with mini-anchors)

Access to Jurong East MRT Interchange Site 1 6-Storey Mall (with anchors)

19 1 Most Prime Site in Jurong Gateway Specialties and Mini-Anchors to Complement Site 1

20 2 Large Population Catchment Caters to 1 Million Population in the West Region

1. Residential Catchment More than 1 million residents in surrounding towns like Clementi, Bukit Batok, Jurong East and Jurong West 2. Commuters of Jurong East Transport Hub MRT Interchange – 1.3mil commuters/month Bus interchange – 0.5 mil commuters/month 3. Working Population International Business Park, JTC Summit, Jurong and Tuas Industrial estates and future offices (currently > 3,000 MNCs) 4. Visitors to nearby MRT Interchange Station for attractions (Science East-West & North-South lines Centre, Jurong Lake)

21 2 Large Population Catchment

Low Retail Space Per Capita Compared to Singapore Average

Retail Space per Capita (sq ft)

12 10.9 10

8 6.90 6.59 6 5.29

4

2

0 Jurong Region Jurong Region Tampines Singapore Average Existing Existing + Upcoming Supply 1

1) Based on existing population at Jurong Region. Jurong Gateway is expected to be 2.5 times larger than Tampines Regional Centre.

22 2 Large Population Catchment Higher Disposable Income Compared to Singapore Average Catchment Analysis

• Slightly younger age group compared • Average monthly household income of to Singapore average S$5,822 compared to Singapore average of S$5,680

* Census 2010 * HDB Sample Household Survey 2008

23 3 A “3-in-1” Shopping Mall in Singapore’s Largest Regional Hub

• IMM Building, JCube and Jurong Gateway Site 1 million sq ft NLA • Complementary Positioning: . IMM Building Value-Focused Mall . JCube Entertainment-Focused Mall . Jurong Gateway Site Family and Lifestyle Mall • Potential operational synergy among 3 malls

24 A “3-in-1” Shopping Mall in Singapore’s 3 Largest Regional Hub Catering to Wide Range of Shoppers

Family & Lifestyle Mall

Jurong Gateway Site

Site 1 Value-Focused Site 3 (Lend Lease) Mall (Future Site)

Entertainment- Focused Mall

Total NLA 1 million sq ft Total Number of Retail Leases Approx. 600 Total Number of Car Park Lots 2,200 car park spaces

25 4 Strengthening Our Foothold in Western Singapore Leveraging on our Competitive Advantage and our Experience in the West

Bukit Panjang Plaza Shoppers’ Mall Bukit Panjang Plaza

Jurong Gateway Site IMM Buildiing JCube

One North (u/c) 26 5 Lack of Quality Office Space in Jurong

No Quality Office Space Within 5 km of Jurong East MRT Station Currently

Ministry of CPF Jurong Building Completed in 1994 National New white site Development – up to 40% of committed 20-storey GFA for office lease for office tower use Site 1 sold in approx. completing June 2010 315,400 sq ft in 2014 of the total office GFA of 345,800 sq ft JTC Summit in Site 1 Completed in 2000

27 5 Lack of Quality Office Space in Jurong

Offering Well-Located Good Quality Office Space

Proposed Office Tower Offers:

1) Good Location • 20-min MRT ride to CBD • 20-min drive to CBD via expressways • 5 to 10-min drive to Jurong Industrial Estate and Jurong Island • Seamless access to transport hubs via retail mall 2) Quality Office Space Up to 40% of total GFA

GFA – 383,000 sq ft 3) Target Industry • Government agencies Sectors / Tenant Type • Medical and pharmaceutical sector arising from close proximity to upcoming Ng Teng Fong Hospital • MNCs in oil and gas and marine sector working in synergy with their operations in Jurong Island and Tuas • Back-room operations (e.g. IT support, finance, etc) of MNCs

28 5 Lack of Quality Office Space in Jurong

Offering Good Quality, Regular Size, Column-Free Floor Plate for Ease of Office Space Planning

• Typical office floor plate about 15,000 sq ft • 4.2m floor to floor height • Full glass/curtain wall façade • Good quality stone/marble finishes • Grade-A lift average waiting time (less than 30 sec) and 5-min handling capacity (can handle more than 12% of estimated building population)

29 Summary

30 Summary  2.5x Tampines Regional Centre  5 seamless direct connections to main transport 1 Most Prime Site nodes and amenities  Complementary to Site 1  More than 1 million population in the West region 2  Lower-than-average retail space per capita in Jurong Large Catchment Region  Higher-than-average disposable income  Unique and complementary positioning for IMM 3 “3-in-1” Building, JCube and Jurong Gateway Site Shopping Mall  Caters to wide range of shoppers  Potential synergies among 3 malls  Tapping on our track record and retail operations 4 Stronger Foothold in experience in western Singapore since 2003 Western Singapore

Offers Well-Located  Only 20 minutes from CBD via MRT or car 5 Quality Office Space  Potential office tenants from diversified sectors in Jurong

31 Thank You

For enquiries from analysts/investors on CapitaMalls Asia, please contact: Caroline Fong Investor Relations Tel: (65) 6536 1188 Email: caroline.fong@.com

For enquiries from analysts/investors on For enquiries from analysts/investors on CapitaMall Trust, CapitaLand, please contact: please contact: Jeanette Pang Harold Woo Investor Relations Investor Relations Tel: (65) 6536 5307 Tel: (65) 6823 3210 Email: [email protected] Email: [email protected]

32