Annual Report 2025 171 Notes to the Financial Statements 31 December 2025 Nominal interest rate % Year of maturity Face value $’000 Carrying amount $’000 Trust 2025 Short term bank borrowings COF^ + margin 2026 848,380 848,380 Term loans Benchmark rate^^ + margin 2027 to 2031 1,933,898 1,927,529 Medium term notes 0.75 - 3.73 2026 to 2034 2,592,481 2,588,465 5,374,759 5,364,374 2024 Short term bank borrowings COF^ + margin 2025 144,966 144,966 Term loans Benchmark rate^^ + margin 2027 to 2031 1,942,525 1,933,676 Medium term notes 0.75 – 3.73 2025 to 2034 2,213,598 2,209,630 4,301,089 4,288,272 ^ COF denotes the lender’s cost of funds ^^ Benchmark rate is dependent on the currencies of the term loan The Group’s weighted average all-in cost of borrowings, including interest rate swaps and amortised costs of borrowings as at 31 December 2025 was 3.5% (2024 : 3.7%) per annum. Total borrowings have a weighted average term remaining of 3.1 years (2024 : 3.5 years). A reconciliation of liabilities arising from financing activities is as follows: Non-cash changes 1 January 2025 $’000 Cash flows2 $’000 Currency translation $’000 Accretion of interests $’000 Others3 $’000 31 December 2025 $’000 Group L oans and borrowings – medium term notes, and bank borrowings1 6,566,891 585,880 (41,294) 246,447 5,465 7,363,389 Lease liabilities (Note 7) 629,861 (37,460) 2,356 27,393 (17,374) 604,776 7,196,752 548,420 (38,938) 273,840 (11,909) 7,968,165 Non-cash changes 1 January 2024 $’000 Cash flows2 $’000 Currency translation $’000 Accretion of interests $’000 Others3 $’000 31 December 2024 $’000 Group Loans and borrowings – m edium term notes, and bank borrowings1 6,565,007 (241,403) (2,080) 239,870 5,497 6,566,891 Lease liabilities (Note 7) 646,322 (36,695) 752 28,461 (8,979) 629,861 7,211,329 (278,098) (1,328) 268,331 (3,482) 7,196,752 1 Includes interest payable. 2 Net proceeds from loans and borrowings, repayment of loans and borrowings, settlement of financial derivatives, payment of lease liabilities, interest paid and payment of issue and financing expenses. 3 Movement of debt related transaction cost, derecognition of lease liabilities due to the divestments, lease liabilities arising from acquisitions and remeasurement of lease liabilities. 14. Loans and Borrowings (continued) Terms and debt repayment schedule (continued)
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