Annual Report 2025 159 Notes to the Financial Statements 31 December 2025 Name of subsidiary Principal activity Principal place of business Proportion of ownership interest and voting rights held by the trust 2025 % 2024 % (ii) Indirect subsidiaries (continued) Ascendas Longbeach Trust No.9^ Investment holding Australia 100 100 Ascendas Longbeach Trust No.10^ Investment holding Australia 100 100 Ascendas Longbeach Trust No.12^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.1^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.2^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.3^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.4^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.5^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.6^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.7^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.8^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.9^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.10^ Investment holding Australia 100 100 Ascendas Longbeach Sub-Trust No.11^ Investment holding Australia 100 100 Ascendas Business Park Trust No.1^ Investment holding Australia 100 100 Ascendas Business Park Trust No.2^ Investment holding Australia 100 100 Ascendas Business Park Trust No.3^ Investment holding Australia 100 100 Ascendas Business Park Trust No.4^ Investment holding Australia 100 100 Ascendas REIT (Europe Sub 1) Ltd.** Investment holding Guernsey 100 100 ARE S1 (Logistics I) Limited** Investment in real estate assets Guernsey 100 100 ARE S1 (Logistics II) Limited** Investment in real estate assets Guernsey 100 100 ARE S1 (Logistics III) Limited** Investment in real estate assets Guernsey 100 100 ARE S1 (Logistics IV) Limited** Investment in real estate assets Guernsey 100 100 ARE S1 (Logistics V) Limited** Investment in real estate assets Guernsey 100 100 ARE S1 (Logistics VI) Limited** Investment in real estate assets Guernsey –(ii) 100 ARE S1 (Logistics VII) Limited** Investment in real estate assets Guernsey 100 100 ARE S1 (Logistics VIII) Limited** Investment in real estate assets Guernsey 100 100 ARE S1 (Logistics IX) Limited** Investment in real estate assets Guernsey 100 100 ARE S1 (Logistics X) Limited** Investment in real estate assets Guernsey 100 100 Ascendas REIT (Europe Sub 2) Group Ltd** Investment holding Jersey 100 100 ARE S2 (Logistics I) Limited** Investment in real estate assets Jersey 100 100 8. Interests in Subsidiaries and Loans to Subsidiaries (continued)
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