Singapore, 26 February 2025 - City Developments Limited (CDL) has taken the decision to temporarily suspend trading in our shares today, in view of the disagreement within the Board in relation to the composition and constitution of the Board and the Board Committees. Despite this temporary suspension, our business operations remain fully functional and unaffected.

Mr Sherman Kwek remains the Group Chief Executive Officer until such time as there is a Board resolution to change company leadership.

As the matter is currently under review, the Company will make further announcements should there be any material developments in this matter, in line with SGX Listing Rules.