Scrip Election/ Distribution/ Drp :: Mandatory With Options

(Constituted in the Republic of Singapore pursuant to a trust deed dated 23 October 2006 (as amended))

1. NOTICE OF BOOKS CLOSURE AND DISTRIBUTION PAYMENT DATE
2. APPLICATION OF DISTRIBUTION REINVESTMENT PLAN TO THE DISTRIBUTION FOR THE DISTRIBUTION PERIOD FROM 1 JANUARY 2017 TO 30 JUNE 2017

Unitholders whose securities accounts with The Central Depository (Pte) Limited are credited with Units as at the Books Closure Date will be entitled to the Distribution to be paid on 20 September 2017.

The Distribution will be a capital distribution.

Capital distribution represents a return of capital to Unitholders for Singapore income tax purpose. The amount of capital distribution will reduce the cost of CRCT units for Singapore income tax purposes. For Unitholders who are liable to Singapore income tax on profits from sale of Units, the reduced cost base of their Units will be used to calculate the taxable trading gains when the Units are disposed off.

CapitaLand Retail China Trust Management Limited, as manager of CRCT (the "Manager"), wishes to announce that the distribution reinvestment plan (the "DRP") will apply to the Distribution.

The DRP provides Unitholders with the option to receive their Distribution, either in the form of Units or cash or a combination of both. A Unitholder will have the following options in respect of his Distribution:

• elect to receive a cash distribution on his existing Units held; or

• elect to receive an allotment of Units credited as fully paid in lieu of the cash amount of the distribution entitlement for the distribution period from 1 January 2017 to 30 June 2017 only; or

• elect to receive an allotment of Units credited as fully paid in lieu of part of the cash amount of the distribution entitlement and the remaining distribution entitlement in cash.

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Units to be issued under the DRP will be issued under the Unit issue mandate to issue Units pursuant to the DRP obtained from Unitholders at the Annual General Meeting of CRCT held on 19 April 2017. A statement, containing the terms and conditions of the DRP, is attached in the Appendix (the "DRP Terms and Conditions").

1. Notice of Election

   The Notices of Election1 will be sent to Unitholders registered in the Depository Register2 as at the Books Closure Date on 15 August 2017.

   Unitholders who wish to participate in the DRP will have to complete the Notice of Election and send it to the Manager c/o The Central Depository (Pte) Limited ("CDP") at the address(es) indicated on the Notices of Election, such that it is received by 5.00 p.m. on 30 August 2017.

   Unitholders who wish to receive their Distribution in cash need not take any action.

   Unitholders who wish to participate in the DRP and do not receive the Notice of Election within three Market Days3 after the expected date of despatch on 15 August 2017 may obtain a copy from the unit registrar of CRCT, Boardroom Corporate & Advisory Services Pte. Ltd., 50 Raffles Place, #32-01 Singapore Land Tower, Singapore 048623 (Telephone number: +65 6536 5355) or CDP.

2. Overseas Unitholders

   Only Unitholders with Singapore registered addresses will be eligible to participate in the DRP. For practical reasons and to avoid any violation of the securities laws applicable in countries outside Singapore where Unitholders may have their registered addresses, the DRP will not be offered to Overseas Unitholders (as defined in the DRP Terms and Conditions). Overseas Unitholders who wish to be eligible to participate in the DRP should provide an address in Singapore for the service of notices and documents to the Manager c/o The Central Depository (Pte) Limited, 9 North Buona Vista Drive, #01-19/20, The Metropolis, Singapore 138588, not later than three Market Days prior to the Books Closure Date. Unitholders should note that all correspondences and notices will be sent to their last registered addresses with CDP. Unitholders which are subject to the laws and regulations of jurisdictions outside Singapore shall, in participating in the DRP, be deemed to have complied with all applicable legal and regulatory requirements of the relevant jurisdictions.

   Where deduction of income tax is applicable and the Unitholders elect to receive the distributions in Units, the number of Units to be allotted under the DRP will be computed based on the distributions net of tax deducted.

3. Issue Price

   The issue price of each new Unit for this DRP will be set at a 2% discount to the volume- weighted average traded price per Unit for all trades on Singapore Exchange Securities Trading Limited (the "SGX-ST") for each of the Market Days during the period of 10 Market Days prior to and ending on the Books Closure Date (the "Issue Price").

   The Manager will announce further details on the application of the DRP to the Distribution, including the Issue Price of new Units, in due course.

4. "Notice of Election" means the one or more notices of election (in such form as the Manager may approve) which the Manager will, at its discretion, send to each Unitholder and through which each Unitholder may indicate whether they wish to participate in the DRP.

5. "Depository Register" shall have the meaning ascribed to it in the Companies Act, Chapter 50 of Singapore.

6. "Market Day" shall mean a day on which the SGX-ST is open for trading in securities.

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8. Important Indicative Dates and Times

9. Unitholders should note the following important indicative dates and events:

   DATE / DEADLINE	Event
   Thursday, 1 August 2017	Last date that the Units are quoted on a "cum"- distribution basis
   Friday, 4 August 2017 at 5.00 p.m.	Closing of the Transfer Books and Register of Unitholders
   Monday, 7 August 2017	Date of announcement of Issue Price
   Tuesday, 15 August 2017	Despatch of Notices of Election
   Wednesday, 30 August 2017 at 5.00 p.m.	Completed Notice of Election in respect of participation in the DRP must be received by the Manager c/o CDP
   Wednesday, 20 September 2017	Payment of Distribution and listing of the Units issued pursuant to the DRP on the SGX-ST

   For enquiries, please contact Ms Leng Tong Yan at 6713 1649 or email: leng.tongyan@capitaland.com or visit our website at www.crct.com.sg>.

   BY ORDER OF THE BOARD

   CapitaLand Retail China Trust Management Limited (Registration Number 200611176D)

   As manager of CapitaLand Retail China Trust

   Lee Ju Lin, Audrey Company Secretary 27 July 2017

   Important Notice

   This Announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units. This Announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia), Canada or Japan. This Announcement is not an offer of securities for sale into the United States, Canada or Japan. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. Any public offering of securities made in the United States would be made by means of a prospectus that may be obtained from the Manager and would contain detailed information about the Manager and CRCT, as well as financial statements. No public offering of securities is being made in the United States.

   The value of 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 the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

   The past performance of CRCT is not necessarily indicative of the future performance of CRCT.

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   APPENDIX

   DISTRIBUTION REINVESTMENT PLAN STATEMENT CAPITALAND RETAIL CHINA TRUST

   (Constituted in the Republic of Singapore

   pursuant to a trust deed dated 23 October 2006 (as amended))
10. DISTRIBUTION REINVESTMENT PLAN STATEMENT

    This Distribution Reinvestment Plan Statement (the "Statement") contains the terms and conditions (the "Terms and Conditions") of the CapitaLand Retail China Trust ("CRCT") Distribution Reinvestment Plan (the "Distribution Reinvestment Plan") under which persons registered in the register of Unitholders (as hereinafter defined), or as the case may be, the Depository Register (as hereinafter defined) as holders of such units in CRCT (the "Unitholders") may elect to receive fully paid new units in CRCT (the "Units", and the new Units, the "New Units") in lieu of part only or all of the cash amount of any distribution (including any interim, final, special or other distribution) (the "Distribution") which is declared on the Units held by them (after the deduction of any applicable income tax).

    Singapore Exchange Securities Trading Limited (the "SGX-ST") assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this Statement.

11. SUMMARY OF MAIN FEATURES

The Distribution Reinvestment Plan provides Unitholders with the option to elect to receive New Units in lieu of part only or all of the cash amount of any Distribution declared on their holding of Units (after the deduction of any applicable income tax).

Under the present law in Singapore, there is no brokerage, stamp duty or other transaction costs payable on New Units allotted and issued under the Distribution Reinvestment Plan.

All Unitholders are eligible to participate in the Distribution Reinvestment Plan subject to the restrictions on Overseas Unitholders (as hereinafter defined), more particularly described below, and except for such other Unitholders or class of Unitholders as CapitaLand Retail China Trust Management Limited, as manager of CRCT (the "Manager"), may in its discretion decide.

Unitholders may elect to participate in respect of, as may be determined by the Manager in its discretion, all or part of their holding of Units to which each Notice of Election (as hereinafter defined) relates in respect of any Qualifying Distribution (as hereinafter defined).

Unitholders receiving more than one (1) Notice of Election may elect to participate in respect of all or part of their holding of Units to which one (1) Notice of Election relates and elect not to participate in respect of all or part of their holding of Units to which any other Notice of Election relates.

The Manager may, at its discretion, provide Unitholders with the option of making a permanent election to receive New Units in respect of their entitlements to all future Qualifying Distributions, to which each Notice of Election relates. Unitholders should note that there is presently no permanent election feature available under the Distribution Reinvestment Plan and the Manager will make an announcement containing the relevant details should it choose to offer this feature to Unitholders in the future.

The Manager may, in its absolute discretion, determine that the Distribution Reinvestment Plan will apply to any particular Distribution. An announcement will be made by the Manager as soon as practicable following the determination by the Manager that the Distribution Reinvestment