For immediate release

NEWS RELEASE

CRCT’s FY 2017 net property income increases 9.1% Acquisition of Rock Square will serve as a significant growth driver going forward

Singapore, 31 January 2018 – CapitaLand Retail China Trust Management Limited (CRCTML), the manager of CapitaLand Retail China Trust (CRCT), announced today that it registered net property income (NPI) of RMB730.6 million for the period 1 January 2017 to 31 December 2017 (FY 2017), 9.1% higher than the RMB669.8 million for the same period last year (FY 2016). The increase was driven mainly by the first full-year contribution from CapitaMall Xinnan, which was acquired on 30 September 2016, and rental growth from the other multi-tenanted malls.

In SGD terms, distributable income for FY 2017 grew 5.1% to S$91.1 million. Total distribution per unit (DPU) for FY 2017 was 10.10 cents, 0.5% higher than FY 2016. Based on CRCT’s closing price of S$1.69 on 30 January 2018, the distribution yield for FY 2017 was 6.0%.

For the period 1 October to 31 December 2017 (4Q 2017), NPI was RMB161.4 million. In SGD terms, distributable income was S$22.0 million. Including the advanced DPU of 1.54 cents paid on 21 December 2017 for the period 1 October 2017 to 6 December 2017, Unitholders will receive a total DPU of 2.37 cents for 4Q 2017. The balance DPU for the quarter of 0.83 cents will be paid out on 23 February 2018. The book closure date is 8 February 2018.

Mr Soh Kim Soon, Chairman of CRCTML, said: “In 2017, China’s economy performed better than expected and consumption remains a key economic growth driver. We are positive that CRCT’s portfolio of family-oriented shopping malls is well-placed to tap China’s sustainable growth, rising disposable income and increasing consumer spend.”

Mr Tan Tze Wooi, CEO of CRCTML, said: “CRCT has delivered a good set of results for FY 2017. This was underpinned by the contribution of CapitaMall Xinnan and the resilience of our core multi-tenanted malls, which have been keeping up with the changing needs of the population catchments through active lease management and keen shopper engagement.”

“In the year, we strengthened the quality of our portfolio through our portfolio reconstitution strategy. We unlocked the value of master-leased CapitaMall Anzhen and acquired multitenanted Rock Square in Guangzhou, which has a longer balance tenure and stronger growth potential. The acquisition marks our diversification into another first-tier city, and creates new leasing synergies with the existing malls in our portfolio. Going forward, we expect Rock Square to be a significant driver of CRCT’s growth. We are also making good progress in transforming the recovered space at CapitaMall Wangjing into higher-yielding specialty stores. Retailers have shown keen interest to showcase new and unique experiential retail concepts

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at the recovered space, which is already more than 90% committed and on track to open progressively from 2Q 2018.”

“We remain focused in driving organic growth and extracting operational efficiencies through our proactive asset management approach. This is achieved through ongoing tenant mix adjustments and improved retail offerings and shopping environment to enhance the shopping experience. Looking ahead, we will continue to adopt a disciplined capital management approach and actively seek acquisition opportunities to create more value for Unitholders.”

Summary of CRCT results^1,2

Periods: 1 October to 31 December (4Q) and 1 January to 31 December (FY)

Footnotes:

1. The financial results include contribution from CapitaMall Xinnan which was acquired on 30 September 2016.

2. The financial results exclude CapitaMall Anzhen with effect from 1 July 2017 following the announcement on 27 July 2017 of the disposal of equity interest in CapitaRetail Beijing Anzhen Real Estate Co., Ltd (“Anzhen SPV”) which held CapitaMall Anzhen.

3. Average exchange rate for RMB/SGD

4. Includes partial distribution of the gain from the disposal of Anzhen SPV.

5. The DPU includes 1.54 cents per unit for the period 1 October 2017 to 6 December 2017, calculated based on 901,833,901 Units and 0.83 cents per unit for the period from 7 December 2017 to 31 December 2017, calculated based on 966,225,901 Units after the private placement.

6. Up to the period before the issuance of Units from private placement.

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Revenue and net property income

In RMB terms

Gross revenue for FY 2017 increased by RMB94.7 million, or 9.2% over FY 2016. This was mainly due to the boost by the full-year contribution from CapitaMall Xinnan and rental growth from the other multi-tenanted malls. This was partially offset by lower revenue from CapitaMall Qibao and CapitaMall Wuhu, and the divestment of CapitaMall Anzhen with effect from 1 July 2017.

In SGD terms

Gross revenue increased by S$14.8 million or 6.9%. The increase in SGD terms was lower due to the stronger SGD against RMB.

About CapitaLand Retail China Trust (www.crct.com.sg)

CRCT is the first China shopping mall Real Estate Investment Trust (REIT) in Singapore, with a portfolio of 10 income-producing shopping malls. Listed on the Singapore Exchange Securities Trading Limited on 8 December 2006, it is established with the objective of investing on a long-term basis in a diversified portfolio of income-producing real estate used primarily for retail purposes and located primarily in China, Hong Kong and Macau.

The geographically diversified portfolio of quality shopping malls is located in seven of China’s cities. The properties are CapitaMall Xizhimen, CapitaMall Wangjing, CapitaMall Grand Canyon and CapitaMall Shuangjing in Beijing; CapitaMall Xinnan in Chengdu, Sichuan Province; CapitaMall Qibao in Shanghai; CapitaMall Minzhongleyuan in Wuhan, Hubei Province; CapitaMall Erqi in Zhengzhou, Henan Province; CapitaMall Saihan in Hohhot, Inner Mongolia; and CapitaMall Wuhu in Wuhu, Anhui Province. As at 31 December 2017, the total asset size of CRCT is approximately S$2.7 billion.

All the malls in the portfolio are positioned as one-stop family-oriented shopping, dining and entertainment destinations for the sizeable population catchment areas in which they are located, and are accessible via major transportation routes or access points. A significant portion of the properties' tenancies consists of major international and domestic retailers such as Beijing Hualian Group (BHG), Carrefour and Wal-Mart under master leases or long-term leases, which provide CRCT's unitholders with stable and sustainable returns. The anchor tenants are complemented by popular specialty brands such as Häagen-Dazs, innisfree, KFC, Nanjing Impressions, Nike, Pandora, Sephora, Starbucks, UNIQLO, Watsons and ZARA.

CRCT is managed by an external manager, CapitaLand Retail China Trust Management Limited, which is an indirect wholly-owned subsidiary of CapitaLand Limited, one of Asia’s largest real estate companies headquartered and listed in Singapore.

Issued by: CapitaLand Retail China Trust Management Limited (Co. Regn.: 200611176D)

Analyst contact Media contact Delphine Sze Chia Pei Siang Manager, Investor Relations Assistant Vice President, Group Communications DID: (65) 6713 1648 DID: (65) 6713 1379 Email: [email protected] Email: [email protected]

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IMPORTANT NOTICE AND DISCLAIMER

This release may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forwardlooking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events.

The information contained in this release has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this release. Neither CapitaLand Retail China Trust Management Limited (the “Manager”) or any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this release or its contents or otherwise arising in connection with this release.

The past performance of CapitaLand Retail China Trust (“CRCT”) is not indicative of the future performance of CRCT. Similarly, the past performance of the Manager is not indicative of the future performance of the Manager.

The value of units in CRCT (“Units”) and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that holders of Units (“Unitholders”) may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the “SGX-ST”). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

This release is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units.

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