CapitaLand : CL: Clarifications on media reports on Ascott by The Straits Times & The Business Times dated 6 Sep 2014

lssuer/ Manager

CAPITALAND LIMITED

Securities

CAPITALAND LIMITED - SG1J27887962 - C31

Stapled Security

No

Announcement Title

General Announcement

Date & Time of Broadcast

10-Sep-2014 17:59:42

Status

New

Announcement Sub Title

Clarifications on media reports on Ascott by The Straits Times & The Business Times dated 6 Sep 2014

Announcement Reference

SG1409100THRSVEB

Submitted By (Co./ lnd. Name)

Michelle Koh

Designation

Company Secretary

Description (Please provide a detailed

description of the event in the box below)

CapitaLand Limited ("CapitaLand") refers to the media reports on Ascott by The Straits Times and The Business Times dated 6 September 2014 and wishes to make the following clarifications.

1. With reference to the statement that the London assets recorded a gross operating margin of 70% and that London would remain a key market:

a. based on CapitaLand's unaudited financial results for year to date June 2014, CapitaLand's operating earnings before interest and tax ("EBIT") is S$769 million;

b. The Ascott Limited ("Ascott") is a wholly owned subsidiary of CapitaLand. Ascott's total portfolio EBIT accounts for 11% of CapitaLand's operating EBIT; however, in terms of Ascott's United Kingdom ( UK ) portfolio EBIT only, it accounts for less than 2% of CapitaLand's operating EBIT; and

c. the financial impact on CapitaLand's operating EBIT arising from the

contribution by Ascott's UK portfolio is not material.

2. With reference to the statements that Ascott was exploring the African

market and that Ascott was aggressively pursuing a deal in Amsterdam:

a. Ascott is a global player for serviced residences and is therefore open to expansion opportunities in various markets including the African market. 0n a continuing basis, Ascott evaluates potential opportunities and is on the lookout for suitable properties around the world for expansion of its serviced residence portfolio;

b. the interest in the African market is for the moment confined to only serviced residences. Ascott has not, up to the time of this announcement, identified any potential expansion opportunity in Africa; and

c. within Europe, there are opportunities from time to time. Within Amsterdam, which is a gateway city in Europe and so within the focus of Ascott, there is a potential deal which Ascott is evaluating. However, the potential deal is at its exploratory stage at this juncture. No definitive agreement has been entered into and no firm decision on whether or not to proceed with the deal has been made. If and when there are material developments, the appropriate announcement will be made in accordance with the listing rules.