174 CapitaLand Ascendas REIT Notes to the Financial Statements 31 December 2025 19. Property Operating Expenses Group 2025 $’000 2024 $’000 Maintenance and conservancy expenses 58,773 46,978 Property service fees 116,927 121,786 Property tax 99,912 95,301 Utilities 167,097 178,123 Security services 10,189 10,276 Site staff cost 6,834 8,059 Land tax 3,886 2,107 Other operating expenses 7,396 10,491 471,014 473,121 20. Management Fees Group 2025 $’000 2024 $’000 Base management fees 87,888 86,197 Included in management fees is an aggregate of 6,534,000 (2024 : 6,696,000) Units amounting to approximately $17,644,000 (2024 : $17,258,000) that were issued or will be issued to the Manager as satisfaction of the management fee payable in Units at unit prices ranging from $2.5854 to $2.7807 (2024 : $2.5627 to $2.5878) per unit. 21. Trust Expenses Group 2025 $’000 2024 $’000 Auditors’ remuneration - audit fees to auditors of the Trust and Deloitte network firm 1,312 1,135 - non-audit fees to auditors of the Trust and Deloitte network firm 46 45 Professional fees 6,040 3,820 Valuation fees 826 905 Trustee fees 3,343 3,307 Other expenses 4,558 3,173 16,125 12,385
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