108 CapitaLand Ascendas REIT Independent Auditor’s Report TO UNITHOLDERS OF CAPITALAND ASCENDAS REIT (Constituted under a Trust Deed dated 9 October 2002 (as amended and restated) in the Republic of Singapore) Report on the Audit of the Financial Statements Opinion We have audited the financial statements of CapitaLand Ascendas REIT (the “Trust”) and its subsidiaries (the “Group”), which comprise the Statement of Financial Position and Investment Properties Portfolio Statement of the Group and the Statement of Financial Position of the Trust as at 31 December 2025, the Consolidated Statement of Total Return, Consolidated Distribution Statement, Statement of Movements in Unitholders’ Funds and Consolidated Statement of Cash Flows of the Group and the Statement of Movements in Unitholders’ Funds of the Trust for the year then ended, and notes to the financial statements, including material accounting policy information, as set out on pages 112 to 200. In our opinion, the accompanying consolidated financial statements of the Group and the Statement of Financial Position and Statement of Movements in Unitholders’ Funds of the Trust are properly drawn up in accordance with the recommendations of Statement of Recommended Accounting Practice 7 “Reporting Framework for Investment Funds” issued by the Institute of Singapore Chartered Accountants so as to present fairly, in all material respects, the consolidated financial position and portfolio of the Group and the financial position of the Trust as at 31 December 2025 and the consolidated financial performance, consolidated distributable income, consolidated movements in Unitholders’ funds and consolidated cash flows of the Group and the movements in Unitholders’ funds of the Trust for the year ended on that date. Basis for Opinion We conducted our audit in accordance with Singapore Standards on Auditing (“SSAs”). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Group in accordance with the Accounting and Corporate Regulatory Authority Code of Professional Conduct and Ethics for Public Accountants and Accounting Entities (“ACRA Code”), as applicable to audits of financial statements of public interest entities, together with the ethical requirements that are relevant to audits of the financial statements of public interest entities in Singapore. We have also fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements of the current year. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
RkJQdWJsaXNoZXIy NTM2MDQ5