134 CapitaLand Ascendas REIT Notes to the Financial Statements 31 December 2025 1. General (continued) 1.3 Fees under the property management agreements (for the Singapore properties) (i) Property management services For property management services, the Group will pay Ascendas Services Pte Ltd (the “Property Manager”), a fee of 2.0% per annum of the adjusted gross revenue of each property, managed by the Property Manager, and in the event that the Property Manager only manages such property for less than one calendar year, such amount will be pro-rated based on the number of days which the Property Manager manages such property divided by the number of days in such year. (ii) Marketing and leasing services For marketing and leasing services, the Group will pay the Property Manager the following commissions for new tenancies. • pro-rated based on 1.0 month’s gross rent inclusive of service charge for securing a tenancy of six months or more but less than three years; • 1.0 month’s gross rent inclusive of service charge for securing a tenancy of three years; • pro-rated based on 2.0 months’ gross rent inclusive of service charge for securing a tenancy of more than three years but less than five years; • 2.0 months’ gross rent inclusive of service charge for securing a tenancy of five years; • pro-rated based on 2.0 months’ gross rent inclusive of service charge for securing a tenancy of more than five years with the terms of the lease subject to the prior approval of the Manager, provided that the commission payable shall not exceed a sum equivalent to 3 months’ gross rent inclusive of service charge; • if a third party agent secures a tenancy, the Property Manager shall pay to the third party agent the same fees as stated above. Prior approval of the Manager is required for the Property Manager to pay a third party agent a commission that is less than as set out above. For the avoidance of doubt, there will not be double charging of commission payable to the third party agents and the Property Manager as the commissions payable to such third party agents shall be paid out of the Property Manager’s fee; and • an administrative charge of 20.0% of the commission is payable to the Manager or the Property Manager in the case of a new lease take-up which involves a third party agent for the marketing support and administrative services to be rendered either by the Manager or the Property Manager. In the event the tenancy is prematurely terminated within six months of the commencement of the tenancy, the Property Manager shall: • where no third-party agent is involved, refund 50.0% of the commission paid to the Property Manager provided that if the tenant fully compensates CLAR for the pre-termination (taking into account the loss of income and related expenses). The Property Manager need not refund 50.0% of the commission it received, and if the tenant only compensates CLAR for a proportion of the loss, the amount refunded to CLAR by the Property Manager would be pro-rated based on the unrecovered loss divided by the aggregate total loss multiplied by 50.0% of the commission paid to the Property Manager; or
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