116 CapitaLand Ascendas REIT Statements of Movements in Unitholders’ Funds Year ended 31 December 2025 Group Trust Note 2025 $’000 2024 $’000 2025 $’000 2024 $’000 Unitholders’ Funds Balance at beginning of the financial year 10,008,906 9,911,129 10,172,074 9,924,793 Operations Total return for the year attributable to Unitholders 779,716 764,107 724,357 883,202 L ess: Amount reserved for distribution to perpetual securities holders (10,020) (9,025) (10,020) (9,025) L ess: Transfer from perpetual securities holders’ funds (3,676) – (3,676) – Net increase in net assets resulting from operations 766,020 755,082 710,661 874,177 Movement in foreign currency translation reserve (10,230) (42,050) – – Movement in hedging reserve E ffective portion of change in fair value of cash flow hedges (64,604) 24,680 (40,023) 13,039 Unitholders’ transactions Units issued through equity fund raising 17 500,002 – 500,002 – Management fees paid/payable in Units 17,644 17,258 17,644 17,258 Acquisition fees paid/payable in Units 17 6,702 – 6,702 – Divestment fees payable in Units 17 – 564 – 564 Unit issue costs (5,246) – (5,246) – Distributions to Unitholders (669,086) (657,757) (669,086) (657,757) Net decrease in net assets resulting from Unitholders’ transactions (149,984) (639,935) (149,984) (639,935) Balance at end of the financial year 10,550,108 10,008,906 10,692,728 10,172,074 Perpetual Securities Holders’ Funds Balance at beginning of the financial year 298,938 298,938 298,938 298,938 Proceeds from the issuance of perpetual securities 300,000 – 300,000 – Redemption of perpetual securities (300,000) – (300,000) – Issue costs (1,280) – (1,280) – Transfer to Unitholders’ funds 3,676 – 3,676 – Amount reserved for distribution to perpetual securities holders 10,020 9,025 10,020 9,025 Distribution to perpetual securities holders (9,000) (9,025) (9,000) (9,025) Balance at end of the financial year 302,354 298,938 302,354 298,938 Non-controlling interests Balance at beginning of the financial year 671 – – – Contribution from non-controlling interest 1,206 668 – – Currency translation movement (33) 3 – – Balance at end of the financial year 1,844 671 – – Total 10,854,306 10,308,515 10,995,082 10,471,012 The accompanying notes form an integral part of these financial statements.
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