City Developments Limited - Annual Report 2025

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 40 RECONCILIATION OF MOVEMENTS OF LIABILITIES TO CASH FLOWS ARISING FROM FINANCING ACTIVITIES Liabilities Interestbearing borrowings (note 21) Interest payable^ Non-trade amounts owing to noncontrolling interests* Non-trade amounts owing to fellow subsidiaries (note 17) Non-trade amounts owing to associates (note 8) Non-trade amounts owing to joint ventures (note 9) Lease liabilities (note 26) $’000 $’000 $’000 $’000 $’000 $’000 $’000 Balance at 1 January 2024 11,300,303 64,144 137,139 118,870 2,419 88,677 670,940 Financing cash flows 1,703,315 (562,030) 5,166 (103,020) (268) 488 (51,682) Non-cash changes Effect of changes in foreign exchange rates 21,835 (79) 1,105 – 32 321 (1,246) Liability-related New leases – – – – – – 20,595 Interest expense/capitalised – 561,294 2,349 275 – 5 24,811 Settlement through transfer of certain office units in Hong Leong Technology Park – – (124,623) – – – – Others 10,358 (897) (4,812) – – 7 – Total other changes 32,193 560,318 (125,981) 275 32 333 44,160 Balance at 31 December 2024 13,035,811 62,432 16,324 16,125 2,183 89,498 663,418 Balance at 1 January 2025 13,035,811 62,432 16,324 16,125 2,183 89,498 663,418 Financing cash flows 301,378 (489,493) 348,962 (3,870) (55) – (70,147) Non-cash changes Effect of changes in foreign exchange rates 6,012 8 2,660 – 37 (997) (2,716) Liability-related New leases – – – – – – 43,348 Interest expense/capitalised – 484,374 10,992 263 – – 24,147 Others 9,861 (205) – – – 12 – Total other changes 15,873 484,177 13,652 263 37 (985) 64,779 Balance at 31 December 2025 13,353,062 57,116 378,938 12,518 2,165 88,513 658,050 ^ Included in “trade and other payables” * Included in “other liabilities” and “trade and other payables” 194 | CITY DEVELOPMENTS LIMITED

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