160 CapitaLand Ascendas REIT 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) ARE S2 (Logistics II) Limited** Investment in real estate assets Jersey 100 100 ARE S2 (Logistics III) Limited** Investment in real estate assets Jersey 100 100 ARE S2 (Logistics IV) Limited** Investment in real estate assets Jersey 100 100 ARE S2 (Logistics V) Limited** Investment in real estate assets Jersey 100 100 ARE S2 (Logistics VI) Limited** Investment in real estate assets Jersey 100 100 ARE S2 (Logistics VII) Limited** Investment in real estate assets Jersey 100 100 ARE S2 (Logistics VIII) Limited** Investment in real estate assets Jersey 100 100 ARE S2 (Logistics IX) Limited** Investment in real estate assets Jersey 100 100 Ascendas REIT UK Limited^^ Investment holding United Kingdom 100(iii) - Ascendas (Europe Sub 4) Limited** Investment holding United Kingdom 100(iii) - ARE S4 (Logistics 1) Limited** Investment in real estate assets United Kingdom 100(iii) - ARE S4 (Logistics 2) Limited** Investment in real estate assets United Kingdom 100(iii) - Ascendas REIT (Europe Sub 3) Limited** Investment holding Jersey 100 100 Ascendas REIT (Croydon) UK Limited** Investment in real estate assets United Kingdom 100 100 Ascendas REIT (Croydon) Limited** Investment in real estate assets Isle of Man 100 100 Ascendas REIT (Cressex) Limited** Investment in real estate assets Jersey 100 100 Ascendas REIT (Welwyn) Limited** Investment in real estate assets Jersey 100 100 Ascendas REIT (Watford) Limited** Investment in real estate assets British Virgin Islands 100 100 Ascendas REIT (Manchester) Limited** Investment in real estate assets Jersey 100 100 Ascendas REIT (Netherlands Sub 1) BV** Investment holding Netherlands 100 100 Ascendas REIT (PVV) B.V.** Investment in real estate assets Netherlands 100 100 Ascendas REIT (Gyroscoopweg) B.V.** Investment in real estate assets Netherlands 100 100 Ascendas REIT (Cateringweg) B.V.** Investment in real estate assets Netherlands 100 100 Ascendas REIT (France Sub 1) SAS** Investment holding France 100 100 Ascendas REIT Paris Holding S.a.r.l** Investment holding France 100 100 8. Interests in Subsidiaries and Loans to Subsidiaries (continued)
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