CapitaLandInvest 9CI

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Financials

CapitaLand Investment Limited Annual Report 2025

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Balance Sheets

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Balance Sheets from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025Group	2024Group	2025Company	2024Company	Source
Non-current assets
Property, plant and equipmentSGD million	546	620	109	126	PDF p. 43
Intangible assetsSGD million	1,307	1,162	–	–	PDF p. 43
Investment propertiesSGD million	4,605	4,995	–	–	PDF p. 43
SubsidiariesSGD million	–	–	10,689	10,347	PDF p. 43
AssociatesSGD million	11,620	11,689	–	–	PDF p. 43
Joint venturesSGD million	1,882	1,963	–	–	PDF p. 43
Deferred tax assetsSGD million	77	62	–	–	PDF p. 43
Other non-current assetsSGD million	944	598	–	–	PDF p. 43
Non-current assets subtotal
SubtotalSGD million	20,981	21,089	10,798	10,473	PDF p. 43
Current assets
Development properties for saleSGD million	57	160	–	–	PDF p. 43
Trade and other receivablesSGD million	1,142	1,143	924	1,221	PDF p. 43
Other current assetsSGD million	9	10	–	–	PDF p. 43
Cash and cash equivalentsSGD million	2,022	2,308	1	10	PDF p. 43
Current assets subtotal
SubtotalSGD million	3,230	3,621	925	1,231	PDF p. 43
Less: current liabilities
Trade and other payablesSGD million	1,165	1,236	292	459	PDF p. 43
Bank borrowingsSGD million	550	1,025	–	–	PDF p. 43
Lease liabilitiesSGD million	75	73	8	7	PDF p. 43
Current tax payableSGD million	476	528	1	1	PDF p. 43
Less: current liabilities subtotal
SubtotalSGD million	2,266	2,862	301	467	PDF p. 43
Net current assets
Net current assetsSGD million	964	759	624	764	PDF p. 43
Less: non-current liabilities
Bank borrowingsSGD million	5,424	4,667	–	–	PDF p. 43
Debt securitiesSGD million	1,850	1,630	–	–	PDF p. 43
Lease liabilitiesSGD million	450	506	72	81	PDF p. 43
Deferred tax liabilitiesSGD million	241	206	–	–	PDF p. 43
Other non-current liabilitiesSGD million	456	428	487	812	PDF p. 43
Less: non-current liabilities subtotal
SubtotalSGD million	8,421	7,437	559	893	PDF p. 43
Net assets
Net assetsSGD million	13,524	14,411	10,863	10,344	PDF p. 43
Representing
Share capitalSGD million	10,760	10,760	10,760	10,760	PDF p. 43
Revenue reserveSGD million	7,233	7,995	732	230	PDF p. 43
Other reservesSGD million	(5,414)	(5,209)	(629)	(646)	PDF p. 43
Equity attributable to owners of the CompanySGD million	12,579	13,546	10,863	10,344	PDF p. 43
Non-controlling interestsSGD million	945	865	–	–	PDF p. 43
Total equitySGD million	13,524	14,411	10,863	10,344	PDF p. 43

Definitions & sources

Original report: PDF p. 43 ↗

The accompanying notes form an integral part of these financial statements. No separate Company income statement is presented on the inspected statement page. The balance sheet comparative dates are printed as 31 Dec 2025 and 31 Dec 2024.

Consolidated Income Statement

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Consolidated Income Statement from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Income statement
RevenueSGD million	2,133	2,815	PDF p. 43
Cost of salesSGD million	(1,132)	(1,550)	PDF p. 43
Gross profitSGD million	1,001	1,265	PDF p. 43
Other operating incomeSGD million	130	162	PDF p. 43
Administrative expensesSGD million	(495)	(548)	PDF p. 43
Other operating expensesSGD million	(170)	(218)	PDF p. 43
Profit from operationsSGD million	466	661	PDF p. 43
Finance costsSGD million	(323)	(507)	PDF p. 43
Share of results (net of tax) of:
- associatesSGD million	180	447	PDF p. 43
- joint venturesSGD million	(42)	173	PDF p. 43
Income statement subtotal following share of results
SubtotalSGD million	138	620	PDF p. 43
Income statement
Profit before taxSGD million	281	774	PDF p. 43
Tax expenseSGD million	(111)	(80)	PDF p. 43
Profit for the yearSGD million	170	694	PDF p. 43
Attributable to
Owners of the CompanySGD million	145	479	PDF p. 43
Non-controlling interestsSGD million	25	215	PDF p. 43
Profit for the yearSGD million	170	694	PDF p. 43
Per share data
Basic earnings per sharecents per share	2.9	9.5	PDF p. 43
Diluted earnings per sharecents per share	2.9	9.4	PDF p. 43

Definitions & sources

Original report: PDF p. 43 ↗

The accompanying notes form an integral part of these financial statements.

Consolidated Statement of Comprehensive Income

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Consolidated Statement of Comprehensive Income from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025The Group	2024The Group	Source
Profit or loss
Profit for the yearSGD million	170	694	PDF p. 44
Other comprehensive income; items that are/may be reclassified subsequently to profit or loss
- Exchange differences arising from translation of foreign operations and foreign currency loans forming part of net investment in foreign operationsSGD million	(115)	(99)	PDF p. 44
- Recognition of foreign exchange differences on disposal or liquidation of foreign operations in profit or lossSGD million	19	588	PDF p. 44
- Effective portion of change in fair value of cash flow hedgesSGD million	(31)	(5)	PDF p. 44
- Recognition of hedging reserve in profit or lossSGD million	(20)	(19)	PDF p. 44
Other comprehensive income; share of other comprehensive income of associates and joint ventures
- Cash flow hedgesSGD million	(66)	(20)	PDF p. 44
- Foreign currency translationSGD million	(13)	(4)	PDF p. 44
Subtotal: items that may be reclassified subsequently to profit or loss
SubtotalSGD million	(226)	441	PDF p. 44
Other comprehensive income; items that will not be reclassified subsequently to profit or loss; financial assets at fair value through other comprehensive income
- Change in fair valueSGD million	9	(3)	PDF p. 44
Other comprehensive income; share of other comprehensive income of associates and joint ventures
- Financial assets, at FVOCISGD million	3	(6)	PDF p. 44
Other comprehensive income
Total other comprehensive (loss)/income, net of taxSGD million	(214)	432	PDF p. 44
Total comprehensive income
Total comprehensive (loss)/incomeSGD million	(44)	1,126	PDF p. 44
Attributable to
Owners of the CompanySGD million	(81)	568	PDF p. 44
Non-controlling interestsSGD million	37	558	PDF p. 44
Total comprehensive (loss)/incomeSGD million	(44)	1,126	PDF p. 44

Definitions & sources

Original report: PDF p. 44 ↗

The page prints the comparative columns as 2025 and 2024 for The Group. It states: “* Details of total other comprehensive income, net of tax have been included in the consolidated statement of comprehensive income.” The statement continues onto the same physical page as the changes in equity schedule.

Consolidated Statement of Cash Flows

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Consolidated Statement of Cash Flows from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025The Group	2024The Group	Source
Cash flows from operating activities
Profit after taxSGD million	170	694	PDF p. 46
Cash flows from operating activities; Adjustments for
(Reversal of allowance and recovery of)/write off and allowance for impairment loss on receivablesSGD million	(8)	6	PDF p. 46
Allowance for impairment loss on interest in associates and joint venturesSGD million	–	3	PDF p. 46
Foreseeable losses on development properties for saleSGD million	–	24	PDF p. 46
Write off of intangible assetsSGD million	–	5	PDF p. 46
Amortisation of intangible assetsSGD million	21	20	PDF p. 46
Depreciation of property, plant and equipment and right-of-use assetsSGD million	110	120	PDF p. 46
Distribution incomeSGD million	(3)	(4)	PDF p. 46
Net loss from change of ownership interests in subsidiaries, associates and joint venturesSGD million	18	96	PDF p. 46
Net loss on disposal of investment propertiesSGD million	54	33	PDF p. 46
Net gain on disposal and write off of property, plant and equipmentSGD million	–	(16)	PDF p. 46
Net gain on right-of-use assets lease modification/terminationSGD million	(9)	(20)	PDF p. 46
Net mark-to-market loss on derivative instrumentsSGD million	4	16	PDF p. 46
Cash flows from operating activities; adjustments for
Net change in fair value of investment propertiesSGD million	69	22	PDF p. 46
Net change in fair value of financial assets designated as fair value through profit or lossSGD million	5	(3)	PDF p. 46
Share of results of associates and joint venturesSGD million	(138)	(620)	PDF p. 46
Interest incomeSGD million	(36)	(55)	PDF p. 46
Finance costsSGD million	323	507	PDF p. 46
Share-based expensesSGD million	39	24	PDF p. 46
Tax expenseSGD million	111	80	PDF p. 46
Cash flows from operating activities; total adjustments
SubtotalSGD million	560	238	PDF p. 46
Cash flows from operating activities
Operating profit before working capital changesSGD million	730	932	PDF p. 46
Cash flows from operating activities; changes in working capital
Development properties for saleSGD million	72	13	PDF p. 46
Trade and other receivablesSGD million	(77)	(165)	PDF p. 46
Trade and other payablesSGD million	(116)	(22)	PDF p. 46
Cash flows from operating activities; changes in working capital subtotal
SubtotalSGD million	(121)	(174)	PDF p. 46
Cash flows from operating activities
Cash generated from operationsSGD million	609	758	PDF p. 46
Taxation paidSGD million	(118)	(197)	PDF p. 46
Net cash generated from operating activitiesSGD million	491	561	PDF p. 46
Cash flows from investing activities
Net (acquisition of/development expenditure in)/proceeds from disposal of investment propertiesSGD million	(11)	1,255	PDF p. 47
Acquisition of subsidiariesSGD million	(188)	(144)	PDF p. 47
Acquisition of assets held for sale#SGD million	(221)	–	PDF p. 47
Proceeds from disposal of assets held for sale#SGD million	221	404	PDF p. 47
Debt investmentsSGD million	(418)	–	PDF p. 47
Deposits received for disposal of investment propertiesSGD million	–	24	PDF p. 47
Disposal of subsidiariesSGD million	329	1,134	PDF p. 47
Dividends received from associates and joint ventures and other investmentsSGD million	444	441	PDF p. 47
Interest income receivedSGD million	34	52	PDF p. 47
Investments in associates, joint ventures and other investmentsSGD million	(779)	(325)	PDF p. 47
Net proceeds from disposal/(acquisition) of property, plant and equipment and other financial assetsSGD million	93	(266)	PDF p. 47
Purchase of intangible assetsSGD million	(12)	(19)	PDF p. 47
Settlement of hedging instrumentsSGD million	(2)	11	PDF p. 47
Net cash (used in)/generated from investing activitiesSGD million	(510)	2,567	PDF p. 47
Cash flows from financing activities
Contributions from non-controlling interestsSGD million	165	17	PDF p. 47
Dividends paid to non-controlling interestsSGD million	(29)	(178)	PDF p. 47
Distributions to perpetual securities holdersSGD million	–	(14)	PDF p. 47
Dividends paid to shareholdersSGD million	(599)	(609)	PDF p. 47
Interest expense paidSGD million	(322)	(498)	PDF p. 47
Repayment of loans from associates and joint venturesSGD million	(2)	(18)	PDF p. 47
Purchase of treasury sharesSGD million	(7)	(358)	PDF p. 47
Net acquisition/disposal of ownership interests in subsidiaries with no change in controlSGD million	(33)	(25)	PDF p. 47
Proceeds from bank borrowingsSGD million	4,503	5,732	PDF p. 47
Proceeds from issuance of debt securitiesSGD million	214	844	PDF p. 47
Repayments of lease liabilitiesSGD million	(74)	(64)	PDF p. 47
Repayments of bank borrowingsSGD million	(4,062)	(7,596)	PDF p. 47
Repayments of debt securitiesSGD million	–	(247)	PDF p. 47
Repayment of bank borrowings classified as liabilities held for saleSGD million	–	(234)	PDF p. 47
Repayment of loans from related corporationSGD million	(5)	(7)	PDF p. 47
Changes in bank deposits pledged for bank facilitiesSGD million	(1)	6	PDF p. 47
Net cash used in financing activitiesSGD million	(252)	(3,249)	PDF p. 47
Net movement in cash and cash equivalents
Net decrease in cash and cash equivalentsSGD million	(271)	(121)	PDF p. 47
Cash and cash equivalents at beginning of the yearSGD million	2,294	2,439	PDF p. 47
Effect of exchange rate changes on cash balances held in foreign currenciesSGD million	(16)	(24)	PDF p. 47
Cash and cash equivalents at end of the yearSGD million	2,007	2,294	PDF p. 47

Definitions & sources

Original report: PDF p. 46 ↗ PDF p. 47 ↗

The cash flow statement is consolidated and prints 2025 and 2024 in $’M. Full footnote: “# For 2025, this relates to the acquisition and subsequent divestment of the Group’s stakes in two retail properties. Upon acquisition, these assets were classified as held for sale (Note 13).” The page also describes significant non-cash transactions: 2025 distribution in specie of 154,968,032 CICT units to shareholders at 0.031077 CICT units per ordinary share; valued at $325 million using the closing market price on 9 May 2025 of $2.10. For 2024, the Group received units under the CICT and CapitaLand China Trust distribution reinvestment plans, total value $95 million. The Group and Company statement columns are not presented together in this consolidated statement.

Complete physical-page 46 operating section includes twelve adjustments plus two unlabeled subtotals (total adjustments and changes in working capital); all four subtotal cells are bound separately in the fresh bbox sidecar.

Financial Highlights (2023–2025)

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Financial Highlights (2023–2025) from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2023Group	2024Group	2025Group	Source
Income Statement
RevenueS$ million	2,784	2,815	2,133	PDF p. 3
Fee-Related Revenue (FRR)S$ million	1,070	1,169	1,208	PDF p. 3
Earnings before interest, tax, depreciation and amortisation (EBITDA)S$ million	1,104	1,421	735	PDF p. 3
Profit after tax and minority interests (PATMI) comprisingS$ million	181	479	145	PDF p. 3
Operating PATMIS$ million	568	510	539	PDF p. 3
Portfolio gainsS$ million	213	230	45	PDF p. 3
Revaluation (unrealised) and impairmentS$ million	(600)	(261)	(439)	PDF p. 3
Balance Sheet
Investment propertiesS$ million	13,572	4,995	4,605	PDF p. 3
Associates and joint venturesS$ million	13,043	13,652	13,502	PDF p. 3
Cash and cash equivalentsS$ million	2,460	2,308	2,022	PDF p. 3
Other assetsS$ million	5,058	3,755	4,082	PDF p. 3
Bank borrowings and debt securitiesS$ million	11,862	7,322	7,824	PDF p. 3
Other liabilitiesS$ million	4,034	2,977	2,863	PDF p. 3
Net assetsS$ million	18,237	14,411	13,524	PDF p. 3
Equity attributable to owners of the CompanyS$ million	13,961	13,546	12,579	PDF p. 3
Non-controlling interests and perpetual securitiesS$ million	4,276	865	945	PDF p. 3
Total equityS$ million	18,237	14,411	13,524	PDF p. 3
Key Performance Metrics
Earnings per sharecents	3.5	9.5	2.9	PDF p. 3
Return on equity11%	1.2	3.5	1.1	PDF p. 3
Net asset value per shareS$ per share	2.74	2.72	2.52	PDF p. 3
Revenue under management (RUM)12S$ billion	7.8	8.0	8.2	PDF p. 3
Funds under management (FUM)3S$ billion	99	117	125	PDF p. 3
All-in FRR-to-FUM5bps	81	85	85	PDF p. 3
Dividends
Ordinary dividend per sharecents	12.0	12.0	12.0	PDF p. 3
Special dividend per sharecents per share	-	6.5	-	PDF p. 3
Total dividend per sharecents	12.0	18.5	12.0	PDF p. 3

Definitions & sources

Original report: PDF p. 3 ↗

2024 special dividend 6.5 carries source superscript footnote 1; numeric cell is 6.5, with marker retained in quote.

FY2024 values are rebased for CLAS deconsolidation as described in footnote 7. Other footnotes as printed on physical page 3.

Consolidated Statement of Changes in Equity — year ended 31 December 2025

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Consolidated Statement of Changes in Equity — year ended 31 December 2025 from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025GroupShare capital	2025GroupRevenue reserve	2025GroupReserve for own shares	2025GroupCapital reserve#	2025GroupHedging reserve	2025GroupFair value reserve	2025GroupForeign currency translation reserve	2025GroupTotal	2025GroupNon-controlling interests	2025GroupTotal equity	Source
Consolidated statement of changes in equity; The Group
At 1 January 2025SGD million	10,760	7,995	(664)	(3,491)	1	4	(1,059)	13,546	865	14,411	PDF p. 44
Profit for the yearSGD million	–	145	–	–	–	–	–	145	25	170	PDF p. 44
Total other comprehensive (loss)/income*SGD million	–	–	–	–	(110)	11	(127)	(226)	12	(214)	PDF p. 44
Total comprehensive (loss)/incomeSGD million	–	145	–	–	(110)	11	(127)	(81)	37	(44)	PDF p. 44
Issue of treasury sharesSGD million	–	–	22	(22)	–	–	–	–	–	–	PDF p. 44
Purchase of treasury sharesSGD million	–	–	(7)	–	–	–	–	(7)	–	(7)	PDF p. 44
Contributions from non-controlling interests (net)SGD million	–	–	–	–	–	–	–	–	165	165	PDF p. 44
Dividends paid/payableSGD million	–	(924)	–	–	–	–	–	(924)	(29)	(953)	PDF p. 44
Reclassification of other capital reserveSGD million	–	3	–	(3)	–	–	–	–	–	–	PDF p. 44
Share-based paymentsSGD million	–	–	–	26	–	–	–	26	–	26	PDF p. 44
Total contributions by and distributions to ownersSGD million	–	(921)	15	1	–	–	–	(905)	136	(769)	PDF p. 44
Changes in ownership interests in subsidiaries with no change in controlSGD million	–	27	–	–	–	–	10	37	(91)	(54)	PDF p. 45
Share of reserves of associates and joint venturesSGD million	–	(12)	–	3	–	–	–	(9)	–	(9)	PDF p. 45
Transfer between reservesSGD million	–	8	–	(8)	–	–	–	–	–	–	PDF p. 45
OthersSGD million	–	(9)	–	–	–	–	–	(9)	(2)	(11)	PDF p. 45
Total changes in ownership interests in subsidiaries and other capital transactionsSGD million	–	14	–	(5)	–	–	10	19	(93)	(74)	PDF p. 45
Total transactions with ownersSGD million	–	(907)	15	(4)	–	–	10	(886)	43	(843)	PDF p. 45
At 31 December 2025SGD million	10,760	7,233	(649)	(3,495)	(109)	15	(1,176)	12,579	945	13,524	PDF p. 45

Definitions & sources

Original report: PDF p. 44 ↗ PDF p. 45 ↗

Consolidated Statement of Changes in Equity — FY2024 comparative movement

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Consolidated Statement of Changes in Equity — FY2024 comparative movement from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2024GroupShare capital	2024GroupRevenue reserve	2024GroupReserve for own shares	2024GroupCapital reserve#	2024GroupHedging reserve	2024GroupFair value reserve	2024GroupForeign currency translation reserve	2024GroupTotal	2024GroupPerpetual securities	2024GroupNon-controlling interests	2024GroupTotal equity	Source
Consolidated statement of changes in equity; The Group
At 1 January 2024SGD million	10,760	9,420	(352)	(4,714)	19	13	(1,185)	13,961	396	3,880	18,237	PDF p. 45
Profit for the yearSGD million	–	479	–	–	–	–	–	479	–	215	694	PDF p. 45
Total other comprehensive income*SGD million	–	–	–	–	(29)	(9)	127	89	–	343	432	PDF p. 45
Total comprehensive incomeSGD million	–	479	–	–	(29)	(9)	127	568	–	558	1,126	PDF p. 45
Issue of treasury sharesSGD million	–	–	46	(39)	–	–	–	7	–	–	7	PDF p. 45
Purchase of treasury sharesSGD million	–	–	(358)	–	–	–	–	(358)	–	–	(358)	PDF p. 45
Contributions from non-controlling interests (net)SGD million	–	–	–	–	–	–	–	–	–	17	17	PDF p. 45
Issue of perpetual securities (net)SGD million	–	–	–	–	–	–	–	–	150	–	150	PDF p. 45
Redemption of perpetual securitiesSGD million	–	–	–	–	–	–	–	–	(150)	–	(150)	PDF p. 45
Dividends paid/payableSGD million	–	(609)	–	–	–	–	–	(609)	–	(178)	(787)	PDF p. 45
Distribution attributable to perpetual securitiesSGD million	–	(4)	–	–	–	–	–	(4)	14	(10)	–	PDF p. 45
Distribution paid to perpetual securitiesSGD million	–	–	–	–	–	–	–	–	(14)	–	(14)	PDF p. 45
Reclassification of other capital reserveSGD million	–	4	–	(4)	–	–	–	–	–	–	–	PDF p. 45
Share-based paymentsSGD million	–	–	–	16	–	–	–	16	–	–	16	PDF p. 45
Total contributions by and distributions to ownersSGD million	–	(609)	(312)	(27)	–	–	–	(948)	–	(171)	(1,119)	PDF p. 45
Consolidated statement of changes in equity; The Group; FY2024 comparative block; changes in ownership interests in subsidiaries and other capital transactions
Changes in ownership interests in subsidiaries with a change in controlSGD million	–	(30)	–	5	–	–	–	(25)	(396)	(3,389)	(3,810)	PDF p. 46
Changes in ownership interests in subsidiaries with no change in controlSGD million	–	(5)	–	–	–	–	(3)	(8)	–	(17)	(25)	PDF p. 46
Share of reserves of associates and joint venturesSGD million	–	(21)	–	4	11	–	–	(6)	–	–	(6)	PDF p. 46
Transfer between reservesSGD million	–	(1,243)	–	1,240	–	–	3	–	–	–	–	PDF p. 46
OthersSGD million	–	4	–	1	–	–	(1)	4	–	4	8	PDF p. 46
Total changes in ownership interests in subsidiaries and other capital transactionsSGD million	–	(1,295)	–	1,250	11	–	(1)	(35)	(396)	(3,402)	(3,833)	PDF p. 46
Total transactions with ownersSGD million	–	(1,904)	(312)	1,223	11	–	(1)	(983)	(396)	(3,573)	(4,952)	PDF p. 46
At 31 December 2024SGD million	10,760	7,995	(664)	(3,491)	1	4	(1,059)	13,546	–	865	14,411	PDF p. 46

Definitions & sources

Original report: PDF p. 45 ↗ PDF p. 46 ↗

Reported performance headline comparisons

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Reported performance headline comparisons from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025Reported performance headline	2024Reported performance headline comparison	Source
Supplementary original report disclosure
Operating PATMISGD million	539	510	PDF p. 3
Total PATMISGD million	145	479	PDF p. 3
Dividend per shareSingapore cents	12	18.5	PDF p. 3
Equity raisedSGD billion	6.5	3.3	PDF p. 3
Funds under management (FUM)SGD billion	125	117	PDF p. 3
Fee-related revenue (FRR)SGD billion	1.23	1.17	PDF p. 3
Capital recycledSGD billion	3.1	5.5	PDF p. 3
Implied interest cost% per annum	3.9%	4.4%	PDF p. 3
Net debt-to-equitytimes	0.43x	0.35x	PDF p. 3
Sustainability financingSGD billion	5.7	4.3	PDF p. 3

Definitions & sources

Original report: PDF p. 3 ↗

These are the original headline definitions, which may differ from the detailed financial-highlight or audited statement definitions. Original comparative/restatement footnotes are retained.

FY2025 digital-led efficiencies

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FY2025 digital-led efficiencies from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025Reported performance headline	Source
Supplementary original report disclosure
Digital-led efficienciesSGD million	12	PDF p. 3

Definitions & sources

Original report: PDF p. 3 ↗

Note14 — Cash composition

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Note14 — Cash composition from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025Group	2024Group	2025Company	2024Company	Source
Supplementary original report disclosure
Fixed depositsSGD million	743	1,070	–	–	PDF p. 68
Cash at banks and in handSGD million	1,279	1,238	1	10	PDF p. 68
Cash and cash equivalents presented on the balance sheetSGD million	2,022	2,308	1	10	PDF p. 68

Definitions & sources

Original report: PDF p. 68 ↗

Company cash composition is explicitly separate from Group. Source dashes are retained.

Note14 — Cash-flow cash adjustment

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Note14 — Cash-flow cash adjustment from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Supplementary original report disclosure
Restricted bank depositsSGD million	(15)	(14)	PDF p. 68
Cash and cash equivalents presented in the statement of cash flowsSGD million	2,007	2,294	PDF p. 68

Definitions & sources

Original report: PDF p. 68 ↗

Subtract restricted deposits from the Group balance-sheet cash shown in Note14 cash composition. These are original different definitions, not inconsistent copied totals.

Significant non-cash transactions — May2025 CICT distribution

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Significant non-cash transactions — May2025 CICT distribution from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2025Company distribution in specie	Source
Supplementary original report disclosure
CICT units distributedunits	154,968,032	PDF p. 47
CICT units per ordinary shareunits per ordinary share	0.031077	PDF p. 47
CICT closing market price on9May2025SGD per CICT unit	2.10	PDF p. 47
Distribution in specie valueSGD million	325	PDF p. 47

Definitions & sources

Original report: PDF p. 47 ↗

Noncash distribution completed in May2025. Source closing price is9May2025; these units and value are not additional cash distributions.

Significant non-cash transactions — FY2024 DRP participation

1 metrics

Units appear below each metric. Scroll to compare years

Significant non-cash transactions — FY2024 DRP participation from CapitaLand Investment Limited Annual Report 2025
Metric / unit	2024Group distribution reinvestment participation	Source
Supplementary original report disclosure
CICT and CapitaLand China Trust DRP participationSGD million	95	PDF p. 47

Definitions & sources

Original report: PDF p. 47 ↗

Where the money comes from

Segment information

By business

Operating Segments – Business Activities 21 lines

Operating Segments – Business Activities
Item / unit	2025Fee Income-related Business	2025Real Estate Investment Business	2025Corporate and Others	2025Elimination	2025Total	2024Fee Income-related Business	2024Real Estate Investment Business	2024Corporate and Others	2024Elimination	2024Total	Source
Revenue
External revenue$’M	1,136	984	13	–	2,133	972	1,826	17	–	2,815	PDF p. 92
Inter-segment revenue$’M	72	37	376	(485)	–	197	38	445	(680)	–	PDF p. 92
Total revenue$’M	1,208	1,021	389	(485)	2,133	1,169	1,864	462	(680)	2,815	PDF p. 92
Segment results
Company and subsidiaries$’M	431	180	(14)	–	597	436	388	(23)	–	801	PDF p. 92
Associates$’M	1	179	–	–	180	(1)	448	–	–	447	PDF p. 92
Joint ventures$’M	–	(42)	–	–	(42)	1	172	–	–	173	PDF p. 92
EBITDA$’M	432	317	(14)	–	735	436	1,008	(23)	–	1,421	PDF p. 92
Segment assets
Segment assets$’M	3,122	19,983	7,846	(6,740)	24,211	2,512	20,728	7,941	(6,471)	24,710	PDF p. 92
Other segment items
Interest income$’M	3	15	18	–	36	4	25	26	–	55	PDF p. 92
Share-based expenses$’M	(22)	(3)	(14)	–	(39)	(9)	(1)	(14)	–	(24)	PDF p. 92
Other segment items (Depreciation and amortisation)
amortisation$’M	(24)	(83)	(24)	–	(131)	(20)	(99)	(21)	–	(140)	PDF p. 92
Other segment items (Fair value loss on investment properties)
properties$’M	–	(69)	–	–	(69)						PDF p. 92
Other segment items (Net loss on disposal of investments, investment properties and property, plant and equipment)
plant and equipment$’M	–	(71)	–	–	(71)	(1)	(110)	–	–	(111)	PDF p. 92
Other segment items (Net mark-to-market loss on derivative instruments)
derivative instruments$’M	–	–	(4)	–	(4)						PDF p. 92
Other segment items (Write back of listing and restructuring expenses)
restructuring expenses$’M	–	–	15	–	15	–	–	10	–	10	PDF p. 92
Other segment items (Acquisition-related costs on business combinations)
business combinations$’M	(1)	–	–	–	(1)	–	(12)	–	–	(12)	PDF p. 92
Carrying amount in
- Associates$’M	320	11,300	–	–	11,620	2	11,687	–	–	11,689	PDF p. 92
- Joint ventures$’M	4	1,878	–	–	1,882	5	1,958	–	–	1,963	PDF p. 92
Other segment items
Capital expenditure#$’M	90	152	4	–	246	24	510	20	–	554	PDF p. 92
Fair value loss on investment properties$’M						–	(22)	–	–	(22)	PDF p. 92
Net mark-to-market loss on derivative instruments$’M						–	(5)	(11)	–	(16)	PDF p. 92

Notes

Currency S$; amounts in $’M as printed.

# Capital expenditure consists of additions of property, plant and equipment, investment properties and intangible assets.

Performance measured on segment EBITDA; group financing (including finance costs) and income taxes are managed on a group basis and not allocated to segments. Segment assets are presented net of inter-segment balances.

Depreciation and amortisation, finance costs, tax expense and profit for the year are printed only in the Total column; other columns left empty.

By geography

Operating Segments – Geographical Information 1 lines

Operating Segments – Geographical Information
Item / unit	2025Singapore	2025China	2025Other developed markets	2025Other emerging markets	2025Group	2024Singapore	2024China	2024Other developed markets	2024Other emerging markets	2024Group	Source
EBITDA$’M	637	(428)	276	250	735	699	(29)	446	305	1,421	PDF p. 93

Notes

Currency S$; $’M.

Printed values carry superscript footnote markers fused to numbers: 7324 = 732 with footnote 4; 3,6835 = 3,683 with footnote 5. Values given without the marker.

1 Includes the United Kingdom (UK), France, Germany, Spain, Belgium, Ireland, Japan, South Korea, the United States of America (USA), Australia, Netherlands and New Zealand but excludes Singapore and Hong Kong.

2 Excludes China and mainly relates to India and Malaysia.

3 Refers to non-current assets other than financial instruments and comprised property, plant and equipment, intangible assets, investment properties, investment in associates and joint ventures.

4 Includes revenue from the USA of $210 million (2024: $541 million), Australia of $148 million (2024: $288 million), France of $195 million (2024: $179 million), Germany of $35 million (2024: $42 million), the UK of $35 million (2024: $107 million) and Japan of $85 million (2024: $169 million).

5 Includes non-current assets from the USA of $569 million (2024: $627 million), Australia of $924 million (2024: $928 million), France of $726 million (2024: $718 million), the UK of $498 million (2024: $541 million) and Japan of $559 million (2024: $228 million).

Printed values carry fused footnote markers: 1,4184 = 1,418 with footnote 4; 3,4335 = 3,433 with footnote 5. Values given without the marker.

Footnotes 1–5 as in the 2025 geographical table (same note block on page 93).

Debt

Borrowings

Lease Liabilities - maturity

Lease Liabilities - maturity
Item / unit	2025The Group, $'M	2024The Group, $'M	2025The Company, $'M	2024The Company, $'M	Source
Lease liabilities - Repayable
Not later than 1 year$'M	75	73	8	7	PDF p. 70
Between 1 and 5 years$'M	251	253	49	48	PDF p. 70
After 5 years$'M	199	253	23	33	PDF p. 70
After 1 Year$'M	450	506	72	81	PDF p. 70
Lease liabilities - Total (Note 16(e))
Lease liabilities$'M	525	579	80	88	PDF p. 70

Notes

Lease liabilities relate to the leases of property, plant and equipment (Note 3) and investment properties (Note 5). Total row printed with note reference 16(e) and no separate label.

Borrowing notes 5 tables

Bank borrowings

Bank borrowings — The Group
Item / unit	2025$'M	2024$'M	Source
Bank borrowings
- secured$'M	1,402	1,569	PDF p. 69
- unsecured$'M	4,572	4,123	PDF p. 69
Bank borrowings - Repayable
Not later than 1 year$'M	550	1,025	PDF p. 69
Between 1 and 5 years$'M	4,911	4,044	PDF p. 69
After 5 years$'M	513	623	PDF p. 69
After 1 year$'M	5,424	4,667	PDF p. 69

Notes

Total bank borrowings (Note 32(d)) 5,974 (2025) and 5,692 (2024).

(a) The Group's borrowings are denominated mainly in Singapore Dollars, Chinese Renminbi, Malaysian Ringgit and US Dollars. As at 31 December 2025, the effective interest rates for bank borrowings denominated in these currencies ranged from 2.14% to 6.78% (2024: 3.25% to 7.66%) per annum.

(b) As at 31 December 2025, $1,276 million (2024: $1,129 million) of the Group's borrowings are sustainability-linked loans.

(c) Bank borrowings are secured by mortgages on the borrowing subsidiaries' investment properties, deposits pledged, trade and other receivables and shares of certain subsidiaries of the Group; and assignment of all rights, titles and benefits with respect to the properties mortgaged.

Debt Securities

Debt Securities — The Group
Item / unit	2025$'M	2024$'M	Source
Debt securities
Secured notes and bonds$'M	94	90	PDF p. 70
Unsecured notes and bonds$'M	1,756	1,540	PDF p. 70
Debt securities - Repayable
Not later than 1 year$'M	–	–	PDF p. 70
Between 1 and 5 years$'M	1,407	859	PDF p. 70
After 5 years$'M	443	771	PDF p. 70
After 1 Year$'M	1,850	1,630	PDF p. 70

Notes

Total debt securities (Note 32(d)) 1,850 (2025) and 1,630 (2024).

(a) As at 31 December 2025, the effective interest rates for debt securities ranged from 2.86% to 4.21% (2024: 3.15% to 4.41%) per annum.

(b) Notes and bonds mainly issued by CLMT, CMATL and CLI Treasury Limited, denominated mainly in Singapore Dollars, Malaysian Ringgit and Chinese Renminbi. Secured notes and bonds of $94 million (2024: $90 million) were fully secured by deposits pledged and mortgage on an investment property of the Group.

Sustainability-linked notes: $584 million (2024: $371 million) issued by CMATL.

Note 32(d) Liquidity risk - contractual undiscounted cash flows of borrowings, debt securities and leases, The Group 31 December 2025

Note 32(d) Liquidity risk - contractual undiscounted cash flows of borrowings, debt securities and leases, The Group 31 December 2025 — The Group
Item / unit	202531 December 2025, Carrying amount $'M	202531 December 2025, Total contractual cash flows $'M	202531 December 2025, Not later than 1 year $'M	202531 December 2025, Between 1 and 5 years $'M	202531 December 2025, After 5 years $'M	Source
Financial liabilities, at amortised cost
Bank borrowings^$'M	(5,974)	(6,601)	(712)	(5,335)	(554)	PDF p. 88
Debt securities^$'M	(1,850)	(2,116)	(39)	(1,605)	(472)	PDF p. 88
Lease liabilities$'M	(525)	(621)	(95)	(306)	(220)	PDF p. 88

Notes

^ The contractual cash flows include interest payments on sustainability-linked loans and notes, which take into consideration the Group's expectation of its ability to meet the sustainability-linked performance targets and may change if the Group expects that it can no longer meet these targets.

Note 32(d) Liquidity risk - contractual undiscounted cash flows, The Group 31 December 2024

Note 32(d) Liquidity risk - contractual undiscounted cash flows, The Group 31 December 2024 — The Group
Item / unit	202431 December 2024, Carrying amount $'M	202431 December 2024, Total contractual cash flows $'M	202431 December 2024, Not later than 1 year $'M	202431 December 2024, Between 1 and 5 years $'M	202431 December 2024, After 5 years $'M	Source
Financial liabilities, at amortised cost
Bank borrowings^$'M	(5,692)	(6,423)	(1,239)	(4,600)	(584)	PDF p. 89
Debt securities^$'M	(1,630)	(1,925)	(40)	(1,032)	(853)	PDF p. 89
Lease liabilities$'M	(579)	(725)	(102)	(319)	(304)	PDF p. 89

Notes

Treasury Highlights (Financial Review) - debt metrics

Treasury Highlights (Financial Review) - debt metrics
Item / unit	2024CLI Group	2025CLI Group	Source
Treasury Highlights
Secured debt ratio%	23	19	PDF p. 12

Notes

Column order follows printed header '2024 2025' (text extraction order). Footnote 9: Excludes lease liabilities. Footnote 11: After adjusting for the deconsolidation of CLAS for FY 2024 (marker attached to 4.4%).

Debt maturity profile bar chart (S$ billion, 2026 to 2031 and beyond) on this page has values 0.6, 1.6, 2.7, 1.5, 0.9, 0.5 but their column mapping is not reliably determinable from text; not extracted. Footnote 12: Debt excludes lease liabilities.

Payout

Dividends & distributions

Dividends declared and proposed

Item	Value	Period / scope	Source
Ordinary dividend per share	12.0 cents per share	FY 2025 (proposed, tax-exempt); table columns 2023, 2024, 2025	PDF p. 3
Ordinary dividend per share	12.0 cents per share	FY 2024 (comparative); table column 2024	PDF p. 3
Total dividend per share	12.0 cents per share	FY 2025 (proposed); table column 2025	PDF p. 3
Total dividend per share	18.5 cents per share	FY 2024 (comparative); table column 2024, includes 6.5 cents special dividend	PDF p. 3
Dividends	ordinary dividend of 12.0 Singapore cents per share,	FY 2025 proposed by Board, tax-exempt, subject to shareholders’ approval at AGM	PDF p. 11
28 Dividends	a payout of approximately	FY 2025 proposed; Note 28	PDF p. 77
28 Dividends	a tax-exempt ordinary dividend of 12.0 cents per share and	FY 2024 comparative; approved at AGM held on 29 April 2025	PDF p. 77

Payout

Item	Value	Period / scope	Source
Dividends	S$599 million	FY 2025 proposed ordinary dividend; based on issued shares excluding treasury shares as at 31 December 2025 · As at 2025-12-31	PDF p. 11

Extracted from CapitaLand Investment Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

Item	Value	Period / scope	Source
Auditor	Deloitte & Touche LLP	Group and Company, year ended 31 December 2025	PDF p. 42
Engagement partner	Shariq Barmaky	Group and Company	PDF p. 42

Key audit matters

Item	Value	Period / scope	Source
Valuation of investment properties	Valuation of investment properties	Group	PDF p. 41
Valuation of investment properties - Risk	These investment properties are stated at their fair values based on independent external valuations.	Group	PDF p. 41

Extracted from CapitaLand Investment Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow CapitaLand Investment Limited Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Amounts follow each row’s original units: statement amounts SGDmillion, EPS and dividends Singaporecents, headline funding figures SGDbillion, ratios % or times. Printed dashes remain literal; equations requiring them are not treated as zero.

Group primary statements and Company balance sheet are disclosed. Separate Company income, OCI, cash-flow and changes-in-equity statements are not disclosed.

Financial highlights cover2023–2025. Earlier original-report historical backfill remains incomplete.

FY2025 FRR1,208million excludes the proportionate SCCP revenue; inclusive footnote amount1,234million and rounded headline1.23billion remain separate. FY2024 ratios reflect the report’s CLAS rebasing.

FY2024 special6.5-cent entitlement and May2025 CICT distribution in specie describe the same non-cash distribution context; the325million completion amount is not an additional cash dividend.

The FY2024 equity comparative label is normalized from movement dates; the spread’s printed heading states Year ended31December2025.

Earlier original-report historical backfill remains incomplete.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.