Divestments To improve its portfolio quality and maintain financial flexibility and liquidity, CLAR continued its disciplined capital recycling strategy. In FY 2025, the Manager completed the divestment of nine properties across Singapore, the US, Australia and the UK, for a total sale consideration of S$506.5 million. This represents a premium of approximately 9% above the total independent market valuation of S$466.1 million and approximately 14% over the total original purchase price of S$443.4 million. The Manager will remain selective and proactive in pursuing further divestments to streamline CLAR’s portfolio, unlock gains from appreciation of asset values, and optimise returns for Unitholders. Completed Divestments in FY 2025 Property Location Sale Consideration (S$ million) Valuation (S$ million) Buyer Completion Date Parkside Portland, US 26.5 18.31 Tualatin Hills Park & Recreation District 26 Jun 2025 30 Tampines Industrial Avenue 3 Singapore 23.0 22.02 Tekscend Photomask Singapore Pte. Ltd. 16 Oct 2025 Astmoor Road North West England, UK 52.5 46.63 Howden Joinery Limited 7 Nov 2025 95 Gilmore Road Queensland, Australia 90.0 82.24 CDIT No 6 Pty Ltd ATF Cadence Direct Industrial Trust No 6 Sub Trust 10 Dec 2025 31 Ubi Road 1 Singapore 30.0 29.55 Intertrust (Singapore) Ltd. in its capacity as trustee of 31 Ubi SubTrust 17 Dec 2025 9 Changi South Street 3 51.5 47.56 Intertrust (Singapore) Ltd. in its capacity as trustee of 9 Changi Sub-Trust 10 Toh Guan Road 84.5 79.75 Intertrust (Singapore) Ltd. in its capacity as trustee of 10 Toh Guan Sub-Trust 19 & 21 Pandan Avenue 140.0 132.66 Intertrust (Singapore) Ltd. in its capacity as trustee of 19 & 21 Pandan Sub-Trust 8700-8770 Nimbus Portland, US 8.5 7.77 Madrona SW Nimbus LLC 30 Dec 2025 Total 506.5 466.1 1 Valuation dated 31 December 2024 was commissioned by the Manager and the Trustee, and was carried out by National Property Valuation Advisors, Inc. using the income approach and sales comparison approach. 2 Valuation dated 30 June 2025 was commissioned by the Manager and the Trustee, and was carried out by Edmund Tie & Company (SEA) Pte Ltd using the capitalisation, discounted cash flow and direct comparison methods. 3 Valuation dated 15 July 2025 for the property was commissioned by the Manager and the Trustee, and was carried out by Colliers International Property Consultants Limited, using the sales comparison and income capitalisation methods. 4 Valuation dated 30 September 2025 for the Property was commissioned by the Manager and the Trustee, and was carried out by Jones Lang LaSalle Advisory Services Pty Ltd using the capitalisation of net income and discounted cash flow methods. 5 Valuation dated 1 July 2025 was commissioned by the Manager and the Trustee, and was carried out by Edmund Tie & Company (SEA) Pte Ltd using the capitalisation, discounted cash flow and direct comparison methods. 6 Valuation dated 1 July 2025 was commissioned by the Manager and the Trustee, and was carried out by Cushman & Wakefield VHS Pte Ltd using the capitalisation, discounted cash flow and direct comparison methods. 7 Valuation dated 1 September 2025 was commissioned by the Manager and the Trustee, and was carried out by JLL Value & Risk Advisory using the cost, sales comparison and income approaches. The Manager’s Review of FY 2025 CapitaLand Ascendas REIT 30
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