Annual Report 2025 161 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 REIT (Montigny) SCI^^** Investment in real estate assets France 100 100 Ascendas REIT (Bievres) SCI** Investment in real estate assets France 100 100 Ascendas REIT (Saclay) SCI** Investment in real estate assets France 100 100 Ascendas REIT (Geneva) S.a.r.l** Investment in real estate assets France 100 100 Ascendas US REIT LLC** Investment holding United States 100 100 Portland 1 LLC** Investment in real estate assets United States 100 100 Portland 2 LLC** Investment in real estate assets United States 100 100 San Diego 1 LLC** Investment in real estate assets United States 100 100 San Diego 2 LLC** Investment in real estate assets United States 100 100 Raleigh 1 LLC** Investment in real estate assets United States 100 100 Raleigh 1 LP** Investment in real estate assets United States 100 100 Ascendas TRS 1 LLC** Operate and manage real estate assets United States 100 100 Ascendas REIT SF1 LLC** Investment in real estate assets United States 100 100 Ascendas REIT SF2 LLC** Investment in real estate assets United States 100 100 Ascendas REIT US 1 LLC** Investment in real estate assets United States 100 100 Ascendas REIT Chicago 1 LLC** Investment in real estate assets United States 100 100 Charleston 1 LLC** Investment holding United States 100 100 Charleston Sub 1 LLC** Investment in real estate assets United States 95(iv) 95(iv) Ascendas Reit Indiana 1 LLC** Investment in real estate assets United States 100 100 (i) Acquired during the financial year ended 31 December 2025. (ii) Disposed during the financial year ended 31 December 2025. (iii) Incorporated during the financial year ended 31 December 2025. (iv) The assets and credit of the subsidiary are not available to satisfy the debts and other obligations of the Group. * Audited by Deloitte & Touche LLP, Singapore. ** Audited by Deloitte & Touche LLP, Singapore for consolidation purpose. ^ Audited by overseas practices of Deloitte Touche Tohmatsu Limited for consolidation purpose. ^^ Audited by overseas practices of Deloitte Touche Tohmatsu Limited. 8. Interests in Subsidiaries and Loans to Subsidiaries (continued)
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