CapitaLand Integrated Commercial Trust (C38U) Investor presentation summary

Financial performance

• 1H 2026 gross revenue was S$846.8M, up 7.5% YoY; NPI was S$630.5M, up 8.7%, and distributable income was S$466.7M, up 13.3%.

• DPU was 6.024 cents, up 7.1% YoY, including an advanced distribution of 3.98 cents; units in issue rose 5.8%.

• 2Q 2026 gross revenue reached S$420.0M, up 7.0% YoY, while NPI was S$316.1M, up 9.6%.

• Singapore contributed 94% of 1H gross revenue, Germany 3% and Australia 3%.

Portfolio operations

• Portfolio occupancy was 95.6%, up 0.4 percentage points QoQ; retail was 97.7%, office 94.4% and integrated developments 95.5%.

• WALE was 2.0 years for retail, 4.4 years for office and 3.0 years for both integrated developments and the overall portfolio.

• Singapore retail rent reversion was 4.0% for 1H 2026, with an 83.9% retention rate; tenant sales per sq ft rose 1.6% YoY.

• Singapore office portfolio average rent was S$11.03 psf per month in 2Q 2026, up 2.0% YoY; office occupancy improved to 94.4%.

• Top 10 tenants represented 16.0% of gross rental income; the largest tenant contributed 4.6%.

Transactions and growth priorities

• Paragon’s agreed property value was S$3.9B, with a 3.9% overall net yield; income contribution began from 1 July 2026.

• Asia Square Tower 2 was divested for net proceeds of ~S$2.45B at a 3.0% exit yield; the sale completed on 17 September 2026.

• Hougang Central’s commercial component is planned at 300,000 sq ft NLA and ~S$1.1B development cost, with yield on cost above 5% and completion targeted for 2030/2031.

• The strategy prioritises asset enhancement, portfolio reconstitution, higher-yielding redeployments and phased projects to limit income and operational disruption.