5-YEAR FINANCIAL HIGHLIGHTS YEAR 2021 2022 2023 2024 2025 For the financial year ($’million) Revenue 2,626 3,293 4,941 3,271 3,587 Profit before tax 215 1,857 473 374 772 Profit for the year attributable to owners of the Company (PATMI) 85 1,285 317 201 630 At 31 December ($’million) Property, plant and equipment 5,362 4,061 4,213 4,680 5,521 Investment properties 4,983 4,967 6,291 6,696 6,593 Development properties 5,839 5,958 4,878 4,851 7,144 Cash and bank balances (including restricted deposits in other non-current assets and bank balances in assets held for sale) 2,191 2,370 2,511 3,086 2,130 Other assets 5,505 5,625 6,341 6,294 5,661 Total assets 23,880 22,981 24,234 25,607 27,049 Equity attributable to owners of the Company 8,401 9,216 9,180 9,088 9,592 Non-controlling interests 918 348 359 221 668 Borrowings 11,140 9,669 11,626 13,313 13,396 Other liabilities 3,421 3,748 3,069 2,985 3,393 Total equity and liabilities 23,880 22,981 24,234 25,607 27,049 Per share Basic earnings (cents) 7.9 140.3 33.6 21.3 69.4 Net asset value ($) 9.26 10.16 10.12 10.17 10.74 Dividends (cents) a) Ordinary dividend - final 8.0 8.0 8.0 8.0 25.01 - special interim 3.0 12.0 4.0 2.0 3.0 - special final 1.0 8.0 – – – b) Distribution in specie 20.23 – – – – c) Preference dividend (net) 3.9 3.9 3.9 3.9 3.9 Financial ratios Return on equity (%) 1.0 13.9 3.5 2.2 6.6 Net gearing ratio (%)2 99 84 103 117 116 Net gearing ratio if fair value gains on investment properties are taken into consideration (%) 61 51 61 69 71 Interest cover ratios (times)4 3.0 9.8 2.8 2.1 3.6 Notes: 1 Final tax-exempt (one-tier) ordinary dividends proposed for financial year ended 31 December 2025 will be subject to the approval of the ordinary shareholders at the forthcoming Annual General Meeting. 2 Excludes fair value gains on investment properties as the Group’s accounting policy is to state its investment properties at cost less accumulated depreciation and accumulated impairment losses. 3 Based on CDL Hospitality Trusts' unit price of $1.27 on 25 May 2022. 4 Excluding non-cash impairment losses and/or reversals of impairment losses for properties, plant and equipment, and investment properties. ANNUAL REPORT 2025 | 13
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