City Developments Annual Report 2023

Beyond transforming cityscapes, we are committed to improving lives and communities, guided by our ethos of ‘Conserving as We Construct’ since 1995. As a pioneer in Environmental, Social and Governance (ESG) integration for close to 30 years, we have made significant progress in mitigating climate risks, meeting rising investor expectations, and harnessing new growth opportunities by tapping into rapidly growing sustainable investment and finance markets. In 2023, we became the first corporate to secure the OCBC 1.5°C loan, with interest rate incentives pegged to annual decarbonisation performance targets and aligned with our commitment to achieving operational net zero. With this latest loan, we have completed over $6.3 billion of sustainable financing in the form of a green bond, various green loans and sustainability-linked loans to date, starting with our launch of the first green bond by a Singapore company in 2017. We are proud to be one of the pioneering Singapore companies amongst 320 globally to voluntarily report according to the Taskforce on Nature-related Financial Disclosures (TNFD). By aligning to TNFD Recommendations, we aim to assess, disclose and manage our naturerelated risks and opportunities and provide consistent and comparable reporting to our stakeholders. Making Positive Impact RECOGNISED ON 14 LEADING GLOBAL SUSTAINABILITY RATINGS, RANKINGS AND INDEXES Only Company in Southeast Asia and Hong Kong to remain on the CDP A List for six consecutive years; Only Company in Singapore to achieve Double ‘A’s for Climate Change (since 2018) & Water Security (since 2019) in 2023 ESG Global 50 Top Rated, Regional Top Rated and Industry Top Rated in 2023 Since 2018 Rated Prime since 2018 Top 2% amongst CDP Participants for Supplier Engagement on Climate Change World’s Top Real Estate Management & Development Company; Top Singapore Company; Only Singapore Company Listed for 14 Consecutive Years; Ranked 28th overall in 2023 Since 2014 ESG Leaders Index ESG Transparency Index since 2016 Only Singaporebased Developer listed since 2022 ‘AAA’ rating since 2010 S&P Global Sustainability Yearbook 2023 Member 4th in Asia (Diversified – Office/Retail); GRESB 5-star rating Only Singapore Real Estate Company since 2018 CDL GREEN GALLERY I SINGAPORE NET ZERO CARBON COMMITMENT First Singapore real estate developer to sign the World Green Building Council’s Net Zero Carbon Buildings Commitment with whole life-cycle approach in two phases: - 2030: New developments and assets under direct management and control in Singapore - 2050: All buildings to be net zero carbon #5 123 BCA Green Mark certifications for our developments and office interiors >$42 million In energy savings from our energyefficient initiatives across our managed buildings from 2012 to 2023 SINGAPORE GOVERNANCE AND TRANSPARENCY INDEX GREEN BUILDING PERFORMANCE MILESTONES out of 474 companies SUSTAINABILITY

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