136 CapitaLand Ascendas REIT Notes to the Financial Statements 31 December 2025 1.4 Fees under the project management agreement (for the Singapore properties) For project management services, the Group will pay CapitaLand Development Pte. Ltd. (the “Project Manager”) the following fees for the (i) development or redevelopment (if not prohibited by the Property Funds Appendix or if otherwise permitted by the Monetary Authority of Singapore), refurbishment, retrofitting and renovation works of the property where submission to the relevant authorities for the approval of such works is required or (ii) routine maintenance where the expenses for the routine maintenance of the property results in such expenses being classified as capital expenditure under the FRS: • a fee of 3.00% of the construction costs, where the construction costs are $2.0 million or less; • a fee of 2.15% of the construction costs, where the construction costs exceed $2.0 million but do not exceed $12.0 million; • a fee of 1.45% of the construction costs, where the construction costs exceed $12.0 million but do not exceed $40.0 million; • a fee of 1.40% of the construction costs, where the construction costs exceed $40.0 million but do not exceed $70.0 million; • a fee of 1.35% of the construction costs, where the construction costs exceed $70.0 million but do not exceed $100.0 million; and • a fee to be mutually agreed by the parties, but not exceeding 1.35% of the construction costs, where the construction costs exceed $100.0 million. For purpose of calculating the fees payable to the Project Manager, construction costs means all construction costs and expenditure valued by the quantity surveyor engaged by the Group for the project (including but without limitation to development and re-development and capital expenditure works), but excluding development charges, differential premiums, statutory payments, consultants’ professional fees and GST. 1.5 Fees under the lease management agreement (for the Singapore properties) (i) Lease management services The Group will pay the Manager or its nominees (as the Lease Manager may direct), a fee of 1.0% per annum of the adjusted gross revenue of each property. In addition to the above fee, the Group will pay the Manager or its nominees the following fees, subject to a refund of 50.0% of the commission paid to the Manager or its nominees if the tenancy is prematurely terminated within six months of the commencement of the tenancy. If the tenant fully compensates the Group for the pre-termination (taking into account the loss of income and related expenses), the Manager or its nominees need not refund 50.0% of the commission. If the tenant only compensates the Group for a proportion of the loss, the amount refunded to the Group by the Manager or its nominees would be pro-rated based on the unrecovered loss divided by the aggregate total loss multiplied by 50.0% of the commission paid. 1. General (continued)
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