Link: https://links.sgx.com/1.0.0/corporate-announcements/SB4O8F6ZBZ50YYU3/552b41e91583f2b04318a59dec3e2d423961d4350948ebbaa776fcc909828df0

Summary:

• Net property income reached S$874.2 million for YTD September 2025, up 1.4% on like-for-like basis, driven by positive rent reversions of 7.8% for retail and 6.5% for office portfolios

• Completed strategic acquisition of remaining 55% stake in CapitaSpring office tower for S$1.045 billion on August 26, bringing total ownership to 100% and enhancing CBD core portfolio presence

• Portfolio occupancy strengthened to 97.2% across S$27.0 billion property value with weighted average lease expiry of 3.2 years, supported by healthy leasing activity of 773,361 sq ft renewed/new leases YTD

• Retail segment demonstrated resilience with tenant sales surging 19.2% year-over-year and shopper traffic climbing 24.8%, though adjusted for ION Orchard contribution shows more moderate 1.0% sales growth

• Balance sheet remains robust with aggregate leverage at 39.2%, average cost of debt at 3.3%, and 62.9% of borrowings in sustainability-linked/green financing, maintaining A3/A- credit ratings from Moody's and S&P

• Active capital recycling strategy executing with Gallileo asset enhancement progressing toward 1Q 2026 completion for European Central Bank handover and asset enhancement initiatives underway at Tampines Mall and Lot One targeting completion through 2027