Remarks
The increase in the total issued stapled securities of CDLHT following the allotment of stapled securities to the managers as payment of base management fee on 29 October 2024. Immediately after the transaction

No. of ordinary voting shares/units held: 62790000 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 4.99600000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage before the transaction is calculated based on 1,255,127,590 stapled securities issued as at 30 July 2024. The percentage after the transaction is calculated based on 1,256,857,318 stapled securities issued as at 29 October 2024.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 121626920 (Direct Interest); 3955592 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 9.67700000 (Direct Interest); 0.31500000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 3,955,592 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,255,127,590 Stapled Securities issued as at 30 July 2024.

Percentage of Stapled Securities after the transaction is based on 1,256,857,318 Stapled Securities issued as at 29 October 2024.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 3955592 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.31500000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,255,127,590 Stapled Securities issued as at 30 July 2024.

Percentage of Stapled Securities after the transaction is based on 1,256,857,318 Stapled Securities issued as at 29 October 2024.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 120093938 (Direct Interest); 3758846 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 9.56800000 (Direct Interest); 0.29900000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 3,758,846 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Percentage of Stapled Securities after the transaction is based on 1,255,127,590 Stapled Securities issued as at 30 July 2024.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 3758846 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.29900000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Percentage of Stapled Securities after the transaction is based on 1,255,127,590 Stapled Securities issued as at 30 July 2024.

Remarks
(i) 4,113,340 and 310,601 stapled securities issued to MRM and M&C Business Trust Management Limited ("MBTM") respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2023.
(ii) 1,479,607 and 180,065 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 4,423,941 and 1,659,672 Stapled Securities issued at S$1.0981 and S$0.9916 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 429467279 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 34.26400000 (Deemed Interest)

Davos is deemed under Section 4 of the Securities and Futures Act 2001 to have an interest in 429,467,279 Stapled Securities held directly and/or indirectly by companies in which it is entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares thereof.

Percentage of Stapled Securities before the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Percentage of Stapled Securities after the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Remarks
(i) 4,113,340 and 310,601 stapled securities issued to MRM and M&C Business Trust Management Limited ("MBTM") respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2023.
(ii) 1,479,607 and 180,065 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 4,423,941 and 1,659,672 Stapled Securities issued at S$1.0981 and S$0.9916 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 26825566 (Direct Interest); 402641713 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 2.14000000 (Direct Interest); 32.12400000 (Deemed Interest)

HLIH is deemed under Section 4 of the Securities and Futures Act 2001 to have an interest in 402,641,713 Stapled Securities held through its subsidiary companies in which it is entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares thereof.

Kwek Holdings Pte. Ltd. ("KH") is entitled to exercise or control the exercise of not less than 20% of the voting shares in HLIH.

Percentage of Stapled Securities before the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Percentage of Stapled Securities after the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Remarks
(i) 4,113,340 and 310,601 stapled securities issued to MRM and M&C Business Trust Management Limited ("MBTM") respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2023.
(ii) 1,479,607 and 180,065 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 4,423,941 and 1,659,672 Stapled Securities issued at S$1.0981 and S$0.9916 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 429467279 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 34.26400000 (Deemed Interest)

KH is deemed under Section 4 of the Securities and Futures Act 2001 to have an interest in 429,467,279 Stapled Securities held directly and/or indirectly by companies in which it is entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares thereof.

KH is entitled to exercise or control the exercise of not less than 20% of the voting shares in HLIH.

Percentage of Stapled Securities before the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Percentage of Stapled Securities after the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Remarks
(i) 4,113,340 and 310,601 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2023.
(ii) 1,479,607 and 180,065 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 4,423,941 and 1,659,672 Stapled Securities issued at S$1.0981 and S$0.9916 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 354548844 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 28.28700000 (Deemed Interest)

Agapier is deemed to be interested in 354,548,844 Stapled Securities by virtue of the provisions of Section 4 of the Securities and Futures Act 2001, through (i) 169,650,000 Stapled Securities held by Hospitality Holdings Pte. Ltd. ("HHPL"); (ii) 62,790,000 Stapled Securities held by Republic Hotels & Resorts Limited ("RHRL"); (iii) 118,544,304 Stapled Securities held by MRM; and (iv) 3,564,540 Stapled Securities held by M&C Business Trust Management Limited ("MBTM").

Agapier is a wholly-owned subsidiary of Singapura Developments (Private) Limited ("SDPL") and City Developments Limited ("CDL").

Percentage of Stapled Securities before the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Percentage of Stapled Securities after the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Remarks
(i) 4,113,340 and 310,601 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2023.
(ii) 1,479,607 and 180,065 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 4,423,941 and 1,659,672 Stapled Securities issued at S$1.0981 and S$0.9916 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 108177 (Direct Interest); 354548844 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00900000 (Direct Interest); 28.28700000 (Deemed Interest)

CDL is deemed to be interested in 354,548,844 Stapled Securities by virtue of the provisions of Section 4 of the Securities and Futures Act 2001, through (i) 169,650,000 Stapled Securities held by HHPL; (ii) 62,790,000 Stapled Securities held by RHRL; (iii) 118,544,304 Stapled Securities held by MRM; and (iv) 3,564,540 Stapled Securities held by MBTM.

Agapier and SDPL are wholly-owned subsidiaries of CDL.

Percentage of Stapled Securities before the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Percentage of Stapled Securities after the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Remarks
(i) 4,113,340 and 310,601 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2023.
(ii) 1,479,607 and 180,065 stapled securities issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 4,423,941 and 1,659,672 Stapled Securities issued at S$1.0981 and S$0.9916 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 354548844 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 28.28700000 (Deemed Interest)

SDPL is deemed to be interested in 354,548,844 Stapled Securities by virtue of the provisions of Section 4 of the Securities and Futures Act 2001, through (i) 169,650,000 Stapled Securities held by HHPL; (ii) 62,790,000 Stapled Securities held by RHRL; (iii) 118,544,304 Stapled Securities held by MRM; and (iv) 3,564,540 Stapled Securities held by MBTM.

SDPL is the holding company of Agapier and a wholly-owned subsidiary of CDL.

Percentage of Stapled Securities before the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Percentage of Stapled Securities after the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Remarks
Allotment of (i) 4,113,340 and 310,601 stapled securities at an issue price of S$1.0981 per stapled security issued to MRM and M&C Business Trust Management Limited ("MBTM") respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2023; and (ii) 1,479,607 and 180,065 stapled securities at an issue price of S$0.9916 per stapled security issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 4,423,941 and 1,659,672 stapled securities issued at S$1.0981 and S$0.9916 per stapled security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 354548844 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 28.28700000 (Deemed Interest)

M&C is deemed to be interested in 354,548,844 stapled securities of CDLHT by virtue of the provisions of Section 4 of the Securities and Futures Act 2001, through (i) 3,564,540 stapled securities held by MBTM; (ii) 118,544,304 stapled securities held by MRM; (iii) 62,790,000 stapled securities held by Republic Hotels & Resorts Limited; and (iv) 169,650,000 stapled securities held by Hospitality Holdings Pte. Ltd.

The percentage before the transaction is calculated based on 1,247,300,037 stapled securities issued as at 30 January 2024.

The percentage after the transaction is calculated based on 1,253,383,650 stapled securities issued as at 30 April 2024.

Remarks
(i) 4,113,340 Stapled Securities issued to M&C REIT Management Limited, as manager of CDL Hospitality Real Estate Investment Trust (the "H-REIT Manager") at an issue price of S$1.0981 per Stapled Security, as payment of 80.0 percent of its performance fee for the financial year ended 31 December 2023.

(ii) 1,479,607 Stapled Securities issued to the H-REIT Manager at an issue price of S$0.9916 per Stapled Security, as payment of 80.0 percent of its base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Trustee-Manager/Responsible Person (excluding brokerage and stamp duties): 4,113,340 and 1,479,607 Stapled Securities issued at S$1.0981 and S$0.9916 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 118544304 (Direct Interest); 3564540 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 9.45800000 (Direct Interest); 0.28400000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 3,564,540 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Percentage of Stapled Securities after the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Remarks
(i) 310,601 Stapled Securities issued to M&C Business Trust Management Limited, as trustee-manager of CDL Hospitality Business Trust (the "HBT Trustee-Manager") at an issue price of S$1.0981 per Stapled Security, as payment of 80.0 percent of its performance fee for the financial year ended 31 December 2023.

(ii) 180,065 Stapled Securities issued to the HBT Trustee-Manager at an issue price of S$0.9916 per Stapled Security, as payment of 80.0 percent of its base management fee for the period from 1 January 2024 to 31 March 2024.

Amount of consideration paid or received by Trustee-Manager/Responsible Person (excluding brokerage and stamp duties): 310,601 and 180,065 Stapled Securities issued at S$1.0981 and S$0.9916 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 3564540 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.28400000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Percentage of Stapled Securities after the transaction is based on 1,253,383,650 Stapled Securities issued as at 30 April 2024.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 3073874 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.24600000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,245,831,836 Stapled Securities issued as at 27 October 2023.

Percentage of Stapled Securities after the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 112951357 (Direct Interest); 3073874 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 9.05600000 (Direct Interest); 0.24600000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 3,073,874 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,245,831,836 Stapled Securities issued as at 27 October 2023.

Percentage of Stapled Securities after the transaction is based on 1,247,300,037 Stapled Securities issued as at 30 January 2024.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 111635416 (Direct Interest); 2921614 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 8.96100000 (Direct Interest); 0.23400000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 2,921,614 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,244,351,448 Stapled Securities issued as at 28 July 2023.

Percentage of Stapled Securities after the transaction is based on 1,245,831,836 Stapled Securities issued as at 27 October 2023.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 2921614 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.23400000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,244,351,448 Stapled Securities issued as at 28 July 2023.

Percentage of Stapled Securities after the transaction is based on 1,245,831,836 Stapled Securities issued as at 27 October 2023.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 110305596 (Direct Interest); 2771046 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 8.86400000 (Direct Interest); 0.22300000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 2,771,046 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,243,087,045 Stapled Securities issued as at 28 April 2023.

Percentage of Stapled Securities after the transaction is based on 1,244,351,448 Stapled Securities issued as at 28 July 2023.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 2771046 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.22300000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,243,087,045 Stapled Securities issued as at 28 April 2023.

Percentage of Stapled Securities after the transaction is based on 1,244,351,448 Stapled Securities issued as at 28 July 2023.

Remarks
(i) 3,347,826, and 218,249 stapled securities at an issue price of S$1.2283 per stapled security issued to MRM and MBTM respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2022.
(ii) 1,165,824 and 116,264 stapled securities at an issue price of S$1.1717 per stapled security issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2023 to 31 March 2023.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 3,566,075 and 1,282,088 stapled securities issued at S$1.2283 and S$1.1717 per stapled security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 174602239 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 14.04600000 (Deemed Interest)

MHIL is deemed to be interested in 174, 602,239 stapled securities of CDLHT by virtue of the provisions of Section 4 of the Securities and Futures Act, 2001, through (i) 2,649,263 stapled securities held by MBTM; (ii) 109,162,976 stapled securities held by MRM; and (iii) 62,790,000 stapled securities held by RHRL.

1. MBTM, MRM and RHRL are wholly-owned subsidiaries of MCHIPL.
2. MCHIPL is a wholly-owned subsidiary of MHIL.

The percentage before the transaction is calculated based on 1,238,238,882 stapled securities issued as at 30 January 2023.

The percentage after the transaction is calculated based on 1,243,087,045 stapled securities issued as at 28 April 2023.

Remarks
(i) 3,347,826, and 218,249 stapled securities at an issue price of S$1.2283 per stapled security issued to MRM and MBTM respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2022.
(ii) 1,165,824 and 116,264 stapled securities at an issue price of S$1.1717 per stapled security issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2023 to 31 March 2023.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 3,566,075 and 1,282,088 stapled securities issued at S$1.2283 and S$1.1717 per stapled security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 174602239 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 14.04600000 (Deemed Interest)

MCHIPL is deemed to be interested in 174,602,239 stapled securities of CDLHT by virtue of the provisions of Section 4 of the Securities and Futures Act 2001, through (i) 2,649,263 stapled securities held by M&C Business Trust Management Limited ("MBTM"); (ii) 109,162,976 stapled securities held by MRM; and (iii) 62,790,000 stapled securities held by Republic Hotels & Resorts Limited ("RHRL").

MBTM, MRM and RHRL are wholly-owned subsidiaries of MCHIPL.

The percentage before the transaction is calculated based on 1,238,238,882 stapled securities issued as at 30 January 2023.

The percentage after the transaction is calculated based on 1,243,087,045 stapled securities issued as at 28 April 2023.

Remarks
(i) 3,347,826, and 218,249 stapled securities at an issue price of S$1.2283 per stapled security issued to MRM and MBTM respectively, as payment of 80% of their performance fee for the financial year ended 31 December 2022.
(ii) 1,165,824 and 116,264 stapled securities at an issue price of S$1.1717 per stapled security issued to MRM and MBTM respectively, as payment of 80% of their base management fee for the period from 1 January 2023 to 31 March 2023.

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 3,566,075 and 1,282,088 stapled securities issued at S$1.2283 and S$1.1717 per stapled security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 174602239 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 14.04600000 (Deemed Interest)

MSHUL is deemed to be interested in 174, 602,239 stapled securities of CDLHT by virtue of the provisions of Section 4 of the Securities and Futures Act, 2001, through (i) 2,649,263 stapled securities held by MBTM; (ii) 109,162,976 stapled securities held by MRM; and (iii) 62,790,000 stapled securities held by RHRL.

1. MBTM, MRM and RHRL are wholly-owned subsidiaries of MCHIPL.
2. MCHIPL is a wholly-owned subsidiary of MHIL.
3. MHIL is a wholly-owned subsidiary of MSHUL.

The percentage before the transaction is calculated based on 1,238,238,882 stapled securities issued as at 30 January 2023.

The percentage after the transaction is calculated based on 1,243,087,045 stapled securities issued as at 28 April 2023.

Remarks
(i) 3,347,826 Stapled Securities issued to M&C REIT Management Limited, as manager of CDL Hospitality Real Estate Investment Trust (the "H-REIT Manager") at an issue price of S$1.2283 per Stapled Security, as payment of 80.0 percent of its performance fee for the financial year ended 31 December 2022.
(ii) 1,165,824 Stapled Securities issued to the H-REIT Manager at an issue price of S$1.1717 per Stapled Security, as payment of 80.0 percent of its base management fee for the period from 1 January 2023 to 31 March 2023.

Amount of consideration paid or received by Trustee-Manager/Responsible Person (excluding brokerage and stamp duties): 3,347,826 and 1,165,824 stapled securities issued at S$1.2283 and S$1.1717 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 109162976 (Direct Interest); 2649263 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 8.78200000 (Direct Interest); 0.21300000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 2,649,263 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,238,238,882 Stapled Securities issued as at 30 January 2023.

Percentage of Stapled Securities after the transaction is based on 1,243,087,045 Stapled Securities issued as at 28 April 2023.

Remarks
(i) 218,249 Stapled Securities issued to M&C Business Trust Management Limited, as trustee-manager of CDL Hospitality Business Trust (the "HBT Trustee-Manager") at an issue price of S$1.2283 per Stapled Security, as payment of 80.0 percent of its performance fee for the financial year ended 31 December 2022.
(ii) 116,264 Stapled Securities issued to the HBT Trustee-Manager at an issue price of S$1.1717 per Stapled Security, as payment of 80.0 percent of its base management fee for the period from 1 January 2023 to 31 March 2023.

Amount of consideration paid or received by Trustee-Manager/Responsible Person (excluding brokerage and stamp duties): 218,249 and 116,264 stapled securities issued at S$1.2283 and S$1.1717 per Stapled Security respectively.

Immediately after the transaction

No. of ordinary voting shares/units held: 2649263 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.21300000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,238,238,882 Stapled Securities issued as at 30 January 2023.

Percentage of Stapled Securities after the transaction is based on 1,243,087,045 Stapled Securities issued as at 28 April 2023.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 2314750 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.18700000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,237,019,716 Stapled Securities issued as at 28 October 2022.

Percentage of Stapled Securities after the transaction is based on 1,238,238,882 Stapled Securities issued as at 30 January 2023.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 104649326 (Direct Interest); 2314750 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 8.45100000 (Direct Interest); 0.18700000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 2,314,750 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,237,019,716 Stapled Securities issued as at 28 October 2022.

Percentage of Stapled Securities after the transaction is based on 1,238,238,882 Stapled Securities issued as at 30 January 2023.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 103543939 (Direct Interest); 2200971 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 8.37000000 (Direct Interest); 0.17800000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 2,200,971 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,235,819,791 Stapled Securities issued as at 29 July 2022.

Percentage of Stapled Securities after the transaction is based on 1,237,019,716 Stapled Securities issued as at 28 October 2022.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 2200971 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.17800000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,235,819,791 Stapled Securities issued as at 29 July 2022.

Percentage of Stapled Securities after the transaction is based on 1,237,019,716 Stapled Securities issued as at 28 October 2022.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 102455339 (Direct Interest); 2089646 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 8.29000000 (Direct Interest); 0.16900000 (Deemed Interest)

M&C REIT Management Limited has a deemed interest in 2,089,646 Stapled Securities held by M&C Business Trust Management Limited by virtue of Section 4 of the Securities and Futures Act 2001.

Percentage of Stapled Securities before the transaction is based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Percentage of Stapled Securities after the transaction is based on 1,235,819,791 Stapled Securities issued as at 29 July 2022.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 2089646 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.16900000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of Stapled Securities before the transaction is based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Percentage of Stapled Securities after the transaction is based on 1,235,819,791 Stapled Securities issued as at 29 July 2022.

Remarks
Distribution of 144,191,823 CDLHT Units to entitled shareholders of City Developments Limited ("CDL") on 26 May 2022, pursuant to the distribution in specie approved by the shareholders of CDL at its 59th Annual General Meeting held on 28 April 2022 (the "Distribution"). Following the completion of the Distribution, Davos has deemed interest of 33.271% in CDLHT.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 410798946 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 33.27100000 (Deemed Interest)

Davos is deemed under Section 4 of the Securities and Futures Act 2001 to have an interest in the 410,798,946 Stapled Securities held directly and/or indirectly by companies in which it is entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares thereof.

Notes:
(1) CDLHT is a stapled group comprising CDL Hospitality Real Estate Investment Trust, a real estate investment trust, and CDL Hospitality Business Trust, a business trust.
(2) Reference to "units" / "securities" are to be read as reference to Stapled Securities in CDLHT.
(3) Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Remarks
Distribution of 144,191,823 CDLHT Units to entitled shareholders of CDL on 26 May 2022, pursuant to the distribution in specie approved by the shareholders of CDL at its 59th Annual General Meeting held on 28 April 2022 (the "Distribution"). Following the completion of the Distribution, (i) HLIH's interest in CDLHT comprises direct interest of 2.173% and deemed interest of 31.098%; and (ii) KH's interest in CDLHT comprises deemed interest of 33.271%.

Immediately after the transaction

No. of ordinary voting shares/units held: 26825566 (Direct Interest); 383973380 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 2.17300000 (Direct Interest); 31.09800000 (Deemed Interest)

CDL distributed 144,191,823 stapled securities in CDL Hospitality Trusts ("CDLHT Units") to entitled shareholders of CDL on 26 May 2022, pursuant to the distribution in specie, as approved by the shareholders of CDL at its 59th Annual General Meeting held on 28 April 2022 (the "Distribution").

Following the completion of the Distribution, HLIH's interest in CDLHT changed from deemed interest of 39.279% to direct interest of 2.173% and deemed interest of 31.098%, due to (a) a change in its direct interest in CDLHT Units resulting from the Distribution of 26,825,566 CDLHT Units to HLIH; and (b) a change in its deemed interests in 383,973,380 CDLHT Units by virtue of the provisions of Section 4 of the Securities and Futures Act 2001 ("SFA") held through its subsidiary companies in which it is entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares thereof.

Kwek Holdings Pte. Ltd. ("KH") is entitled to exercise or control the exercise of not less than 20% of the voting shares in HLIH.

Notes:
(1) CDLHT is a stapled group comprising CDL Hospitality Real Estate Investment Trust, a real estate investment trust, and CDL Hospitality Business Trust, a business trust.
(2) Reference to "units" / "securities" are to be read as reference to Stapled Securities in CDLHT.
(3) Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Remarks
Distribution of 144,191,823 CDLHT Units to entitled shareholders of CDL on 26 May 2022, pursuant to the distribution in specie approved by the shareholders of CDL at its 59th Annual General Meeting held on 28 April 2022 (the "Distribution"). Following the completion of the Distribution, (i) HLIH's interest in CDLHT comprises direct interest of 2.173% and deemed interest of 31.098%; and (ii) KH's interest in CDLHT comprises deemed interest of 33.271%.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 410798946 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 33.27100000 (Deemed Interest)

KH is deemed under Section 4 of the SFA to have an interest in 410,798,946 CDLHT Units held directly and/or indirectly by companies in which it is entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares thereof.

KH is entitled to exercise or control the exercise of not less than 20% of the voting shares in HLIH.

Notes:
(1) CDLHT is a stapled group comprising CDL Hospitality Real Estate Investment Trust, a real estate investment trust, and CDL Hospitality Business Trust, a business trust.
(2) Reference to "units" / "securities" are to be read as reference to Stapled Securities in CDLHT.
(3) Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Remarks
CDL distributed 144,191,823 stapled securities in CDL Hospitality Trusts ("CDLHT Units") to the entitled shareholders of CDL on 26 May 2022, pursuant to the distribution in specie, as approved by the shareholders of CDL at its 59th Annual General Meeting held on 28 April 2022 (the "Distribution"). Following the completion of the Distribution, CDL directly holds 108,177 CDLHT Units.

Immediately after the transaction

No. of ordinary voting shares/units held: 108177 (Direct Interest); 335880511 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00900000 (Direct Interest); 27.20300000 (Deemed Interest)

CDL is deemed to be interested in 335,880,511 CDLHT Units by virtue of the provisions of Section 4 of the Securities and Futures Act 2001, through (i) 169,650,000 CDLHT Units held by Hospitality Holdings Pte. Ltd; (ii) 62,790,000 CDLHT Units held by Republic Hotels & Resorts Limited; (iii) 101,454,393 CDLHT Units held by MRM; and (iv) 1,986,118 CDLHT Units held by M&C Business Trust Management Limited.

Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Remarks
The proposed distribution in specie of 144,300,000 stapled securities in CDL Hospitality Trusts ("CDLHT Units") to the entitled shareholders of CDL on a pro rata basis (the "Distribution") has been approved by the shareholders of CDL at its 59th Annual General Meeting held on 28 April 2022. To facilitate the Distribution, CDL has acquired 144,300,000 CDLHT Units from Hospitality Holdings Pte. Ltd. ("HHPL"), an indirect wholly-owned subsidiary. Immediately after the transaction

No. of ordinary voting shares/units held: 144300000 (Direct Interest); 335880511 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 11.68700000 (Direct Interest); 27.20300000 (Deemed Interest)

CDL is deemed to be interested in 335,880,511 CDLHT Units by virtue of the provisions of Section 4 of the Securities and Futures Act 2001, through (i) 169,650,000 CDLHT Units held by HHPL; (ii) 62,790,000 CDLHT Units held by Republic Hotels & Resorts Limited; (iii) 101,454,393 CDLHT Units held by MRM; and (iv) 1,986,118 CDLHT Units held by M&C Business Trust Management Limited. Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Remarks
To facilitate the proposed distribution in specie to the entitled shareholders of CDL on a pro rata basis, CDL had acquired 144,300,000 CDLHT Units from HHPL.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 335880511 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 27.20300000 (Deemed Interest)

Hospitality Holdings Pte. Ltd. ("HHPL"), an indirect wholly-owned subsidiary, had transferred 144,300,000 CDLHT Units to City Developments Limited ("CDL"), Agapier's indirect holding company, on 24 May 2022.

Accordingly, Agapier's deemed interest in CDLHT Units by virtue of the provisions of Section 4 of the Securities and Futures Act 2001 has been reduced to 335,880,511 CDLHT Units , through (i) the remaining balance of 169,650,000 CDLHT Units held by HHPL; (ii) 62,790,000 CDLHT Units held by Republic Hotels & Resorts Limited ("RHRL"); (iii) 101,454,393 CDLHT Units held by MRM; and (iv) 1,986,118 CDLHT Units held by M&C Business Trust Management Limited ("MBTM").

Agapier is a wholly-owned subsidiary of Singapura Developments (Private) Limited.

Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Remarks
To facilitate the proposed distribution in specie to the entitled shareholders of CDL on a pro rata basis, CDL had acquired 144,300,000 CDLHT Units from HHPL.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 335880511 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 27.20300000 (Deemed Interest)

HHPL had transferred 144,300,000 CDLHT Units to CDL, SDPL's holding company, on 24 May 2022.

Accordingly, SDPL's deemed interest in CDLHT Units by virtue of the provisions of Section 4 of the Securities and Futures Act 2001 has been reduced to 335,880,511 CDLHT Units , through (i) the remaining balance of 169,650,000 CDLHT Units held by HHPL; (ii) 62,790,000 CDLHT Units held by RHRL; (iii) 101,454,393 CDLHT Units held by MRM; and (iv) 1,986,118 CDLHT Units held by MBTM.

SDPL is the holding company of Agapier.

Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Remarks
The proposed distribution in specie of 144,300,000 stapled securities in CDL Hospitality Trusts ("CDLHT Units") to the entitled shareholders of City Developments Limited ("CDL") on a pro rata basis (the "Distribution") has been approved by the shareholders of CDL at its 59th Annual General Meeting held on 28 April 2022. To facilitate the Distribution, CDL has acquired 144,300,000 CDLHT Units from HHPL, an indirect wholly-owned subsidiary.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 169650000 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 13.74000000 (Deemed Interest)

ATOS has a deemed interest by virtue of the provisions of Section 4 of the Securities and Futures Act 2001 in the stapled securities held by HHPL in CDLHT.

HHPL is a wholly owned subsidiary of ATOS.

Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.

Remarks
The proposed distribution in specie of 144,300,000 stapled securities in CDL Hospitality Trusts ("CDLHT Units") to the entitled shareholders of City Developments Limited ("CDL") on a pro rata basis (the "Distribution") has been approved by the shareholders of CDL at its 59th Annual General Meeting held on 28 April 2022. To facilitate the Distribution, CDL has acquired 144,300,000 CDLHT Units from HHPL, an indirect wholly-owned subsidiary.

Immediately after the transaction

No. of ordinary voting shares/units held: 169650000 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 13.74000000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage before and after the transaction are calculated based on 1,234,715,317 Stapled Securities issued as at 29 April 2022.