MANUFACTURED CAPITAL

WorldGBC Net Zero Carbon Buildings Commitment

Scope of CDL’s Net Zero Carbon Commitment

New developments and 13 Singapore assets (as of February 2021)

• 247,016 m² total floor area
• 15,044 tCO₂e portfolio carbon emissions
• 16,922 average kgCO₂e/m² Whole Life Carbon Footprint
• 415 employees

• To achieve net-zero carbon with whole-life cycle approach for wholly-owned and directly managed buildings in Singapore by 2030
• To achieve maximum reduction of embodied carbon in new developments, compensating for any remaining residual operational and upfront embodied emissions via offsetting for new developments by 2030 and for all buildings to be net-zero carbon by 2050

Operationalised revised interim Future Value 2030 Sustainability Blueprint (FV2030) targets in Q3 2022, endorsed by senior management.

The FV2030 targets have incorporated more stringent SBTi-validated targets based on a 1.5°C warmer scenario, which are integrated with the Company’s carbon reduction pathways mapped under our WorldGBC Net Zero Carbon Buildings Commitment.

In 2025, the Company submitted our annual interim progress to WorldGBC.

• Reduce Scope 1 and 2 (GHG) emissions by 63% per square metre (per m²) leased area
• Reduce Scope 3^[1] GHG emissions from purchased goods and services by 41% per m² gross floor area (GFA)
• Reduce absolute Scope 3 GHG emissions from investments^[2] by 58.8%, including hotels managed by CDL’s wholly-owned hotel subsidiary, Millennium & Copthorne Hotels Limited (M&C)

• Achieve net zero emissions by 2050
• 2030 Nationally Determined Contribution: Reduce 2030 emissions to 60 MtCO₂e after peaking emissions earlier³

• The Singapore Green Building Master Plan aims to deliver three key targets of “80-80-80 in 2030”
• As of end 2023, close to 58% of Singapore’s buildings have been greened⁴

80% of Singapore’s buildings (by GFA) to be green by 2030

• To achieve BCA Green Mark certification for 100% of the Company’s owned and managed buildings by 2030

80% of new developments to be SLE from 2030

• To achieve SLE buildings for 80% of the Company’s owned and managed buildings by 2030

80% improvement in energy efficiency (from 2005 levels) for best-in-class green buildings by 2030

• Asset enhancements with smart and low-carbon technologies towards BCA Super Low Energy Building (SLEB) certification
• To continue investing 2% to 5% of the construction cost of new developments in green and healthy design and features, which have been incorporated as standard provision to maintain CDL’s leadership in green buildings

Updated the 3S Green Building Framework in 2021 to include embodied carbon management. This aligns with the WorldGBC’s whole life carbon vision in the expanded Net Zero Carbon Commitment

Aligned with refreshed Green Mark 2021 standards.

In 2023, we concluded a Whole Life Carbon Assessment (WLCA) in Singapore using five existing Group assets across different typologies – residential, retail, hotel and mixed developments. This allowed us to understand the carbon footprint of an asset at different stages of their lifecycle – from construction, maintenance to operations.

In July 2024, the Company piloted the City Green Tenant Bonus (CGTB) Programme, a first-of-its-kind decarbonisation initiative aimed at tenants at our corporate office, Republic Plaza, to reduce Scope 3 carbon emissions. Building on our Green Lease initiative, this programme incentivises tenants to adopt sustainable practices and cut energy consumption.

In 2025, we also completed the installation of hybrid cooling fans at our corporate office in Republic Plaza to complement a raised air-conditioning temperature of 25°C. To support this transition, a business-casual dress code was introduced. These efforts align with Singapore’s Go 25 movement, which promotes sustainable cooling practices. As part of this initiative, the Company made a voluntary Go 25 pledge to reaffirm our commitment to balance occupant comfort with environmental and social sustainability.

BCA Green Mark Platinum SLE Awards

In 2025, the Company achieved:

• One BCA Green Mark Platinum SLE award for our residential development, Zyon Grand which was also awarded the BCA Whole Life Carbon, Maintainability, and Health and Wellbeing badges.
• In 2025, over 130 tenants participated in the CGTB Programme with 20 achieving at least 10% energy reduction from 2024 to 2025, and were recognised at the inaugural CDL CGTB Programme Awards Ceremony.