CAPITAL RECYCLING Contracted Global Asset Divestments $2 billion Against a backdrop of global macroeconomic uncertainty, we accelerated our capital recycling and portfolio optimisation efforts to strengthen the balance sheet and support sustainable shareholder value creation. Key divestments included our stake in the South Beach mixeduse development, City Industrial Building, Piccadilly Galleria, Quayside Isle, strata units at Fortune Centre and a strata-titled basement car park at The Venue Shoppes in Singapore, as well as selected assets in the US and Japan. We remain disciplined in recycling capital from mature and non-core assets, redeploying proceeds into opportunities that support long-term growth and new platform initiatives, such as our living sector portfolio. BUILDING ON VISION Global Investments $1.7 billion 72% 28% Business Segments TRANSFORMATION GLOBAL LIVING SECTOR PORTFOLIO Singapore (926 units) Japan (2,246 units) Australia (563 units) UK (1,505 units) UK (2,368 beds) Total GDV 36% 18% 23% 13% 10% $3.7 billion Private Rented Sector (PRS) 5,240 units Purpose-Built Student Accommodation (PBSA) 2,368 beds Divestments outpaced investments 3 Singapore development sites (~1,300 units) 1 UK hotel Holiday Inn London - Kensington High Street
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