ADVANCING CHANGE RESILIENCE - CITY DEVELOPMENTS …

1 INTEGRATED SUSTAINABILITYREPORT 2021 ADVANCINGCHANGE RESILIENCEINTRODUCTION AND LEADERSHIP STATEMENTS01 2020 Sustainability Highlights02 About CDL03 Sustainability Accolades and Awards04 Critical Moments of COVID-19 in Singapore and CDL s Responses In 202005 Executive Chairman Statement07 Group CEO and Executive Director Statement01 AMASSING SHARED ECONOMIC AND SOCIAL VALUE91 Market Review and Performance 92 Sustainable Finance92 Community Investments97 Trade and Industry Associations89 ANNEXES108 Report Period and Scope111 Key Performance Summary115 Breakdown of Environmental Performance in 2020116 ISO 14064 Reasonable Assurance Statement119 Independent Limited Assurance Statement132 GRI Content Index108 ACCELERATING VALUE CREATION13 Creating Sustainable Growth While Delivering on Purpose15 On Track to Achieving Future Value 2030 Goals and Annual Targets17 Strong Leadership Commitment to Sustainability18 Dynamic Approach to Materiality Assessment 28 Engaging the Value Chain in Our Sustainability Strategy29 Best Practices and ESG Commitments12 ALLEVIATING ENVIRONMENTAL IMPACT48 Stepping Up in the Global Race to Net Zero49 Climate CHANGE Scenario Analysis of C Warmer Scenario52 Carbon Reduction Strategy and Performance56 Energy Reduction Strategy and Performance59 Water Reduction Strategy and Performance62 Waste Management Strategy and Performance64 Minimising

2 Environmental Impact66 Driving Sustainable Supply Chain and Sourcing46 ANCHORING INNOVATION FOR green , SAFE AND HEALTHY COMMUNITIES 33 Accelerating Smart, Sustainable and Super Low Energy (3S) Buildings34 Raising ESG/Building Performance: Decarbonisation & Health are Key35 Driving Innovation and Digital Transformation36 Championing Innovation through Partnerships to be Future-ready 38 Innovation Highlights for Safe, Healthy and Smart Buildings during COVID-1940 Reinventing Customer and Tenant Experience in the Age of COVID-1944 Building Sustainable Communities and Nurturing Future Eco Champions31 ACHIEVING A FAIR, SAFE AND INCLUSIVE BUSINESS ENVIRONMENT 72 Corporate Governance72 Business Ethics and Compliance73 Corporate Policies and Guidelines75 Dedication to Occupational Health.

3 Safety and Well-Being81 Human Capital and Development70 CONTENTSCONSERVING AS WE CONSTRUCTSINCE 1995 TCFD AND SASB REPORTING99 TCFD Disclosure104 SASB Real Estate Sector Disclosure99 GLOSSARY OF KEY ABBREVIATIONS3P People, Public and Private 3S green Building Framework Smart, Sustainable and Super Low Energy green Building Framework ABC Waters Active, Beautiful, Clean WatersARC Audit and Risk Committee BCA Building and Construction Authority BIA Biodiversity Impact Assessment BIPV Building-integrated photovoltaics CDSB Climate Disclosure Standards BoardCONQUAS Construction Quality Assessment System CSO Chief Sustainability OfficerEC Executive Condominium EHS Environment, Health and Safety EIA Environmental Impact Assessment EIC Enterprise Innovation Committee ERM Enterprise Risk Management ESG Environmental, Social and Governance GGEF Global green Economic ForumGHG Greenhouse gas GRI Global Reporting Initiative HR Human Resource HODs Head(s) of Department(s)

4 IAQ Indoor Air QualityIEQ Indoor Environmental Quality IIRC International Integrated Reporting Council IPCC Intergovernmental Panel on Climate ChangeM&C Millennium & Copthorne Hotels Limited MOM Ministry of ManpowerMSE Ministry of Sustainability and the Environment NLB National Library Board NEA - National Environment Agency NGO Non-Governmental Organisation PPVC Prefabricated Prefinished Volumetric Construction PV PhotovoltaicsPUB PUB, Singapore s National Water Agency REC Renewable Energy Certificate SASB Sustainability Accounting Standards BoardSBTi Science Based Targets initiative SDGs United Nations Sustainable Development GoalsSEC Singapore Environment Council SERIS Solar Energy Research Institute of SingaporeSGBC Singapore green Building Council SGX Singapore Exchange SLE Super Low Energy SMM Safe Management Measures SSA Singapore Sustainability Academy SUTD Singapore University of Technology and DesignraiSE Singapore Centre for Social Enterprise TAFEP Tripartite Alliance for Fair & Progressive Employment PracticesTCFD Task Force on Climate-related Financial

5 DisclosuresTOP Temporary Occupation PermitUNDP United Nations Development Programme UNEP United Nations Environment ProgrammeUNFCCC United Nations Framework Convention on Climate CHANGE UK United KingdomUNGC United Nations Global CompactURA Urban Redevelopment Authority USA United States of AmericaUVC Ultraviolet CWFH Work From HomeWorldGBC World green Building CouncilWSH Workplace Safety and HealthINTRODUCTION AND LEADERSHIP STATEMENTSACCELERATING VALUE CREATIONALLEVIATING ENVIRONMENTAL IMPACTANCHORING INNOVATION FOR green , SAFE AND HEALTHY COMMUNITIESAMASSING SHARED ECONOMIC AND SOCIAL VALUEACHIEVING A FAIR, SAFE AND INCLUSIVE BUSINESS ENVIRONMENT TCFD AND SASB REPORTING ASSURANCE STATEMENTS GRI CONTENT INDEX GLOSSARY2020 SUSTAINABILITY HIGHLIGHTS100% green Lease Partnership Programme >$40m property tax & rental rebates COVID-19office and retail tenants participation in CDL s Group revenue in 2020for local and overseas tenants to cope with disruptions caused by 44% reduction$ in carbon emissions intensity from 2007 levels110 BCA green Markcertifications for our DEVELOPMENTS and office interiors# Most awarded BCA green Mark Platinum amongst private developersTopGlobal 100 Most Sustainable Corporations in the World(GRESB).

6 Global Sector Leader Overall Regional Sector Leader (Diversified-Office/Retail-Listed)(Diver sified)Global Real Estate Sustainability Benchmark Premier standingon 12 global sustainability ratings, rankings and indexes> $30m in energy savings FirstWorldGBC s Net Zero Carbon Buildings CommitmentSingapore real estate developer to sign* from energy-efficient retrofitting and initiatives across all its commercial buildings from 2012 to 2020 Double A s in CDPOnly Company for climate CHANGE (since 2018) and water security (since 2019); in Southeast Asia and Hong Kong to maintain thisreal estate company in 2020 and 2021 in $470m green revolving credit facility to refinance Republic Plaza and other green projects* By signing the commitment, CDL has pledged to achieve net zero operational carbon by 2030 for our new and existing wholly-owned assets and DEVELOPMENTS under our direct operational and management control.

7 # Includes subsidiaries and associated companiesandCDL INTEGRATED SUSTAINABILITY REPORT 202101 INTRODUCTION AND LEADERSHIP STATEMENTSACCELERATING VALUE CREATIONALLEVIATING ENVIRONMENTAL IMPACTANCHORING INNOVATION FOR green , SAFE AND HEALTHY COMMUNITIESAMASSING SHARED ECONOMIC AND SOCIAL VALUEACHIEVING A FAIR, SAFE AND INCLUSIVE BUSINESS ENVIRONMENT TCFD AND SASB REPORTING ASSURANCE STATEMENTS GRI CONTENT INDEX GLOSSARYABOUT CDLCity DEVELOPMENTS Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Our income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated a proven track record of over 55 years in real estate development, investment and management, CDL has developed over 47,000 homes and owns over 23 million square feet of gross floor area in residential, commercial and hospitality assets globally.

8 Our diversified global land bank offers million square feet of land with our wholly-owned hotel subsidiary, Millennium & Copthorne Hotels Limited (M&C), the Group has 152 hotels and 44,000 rooms worldwide, many in key gateway our deep expertise in developing and managing a diversified asset base, the Group is focussed on enhancing the performance of our portfolio and strengthening our recurring income streams to deliver long-term sustainable value to shareholders. The Group is also developing a fund management business and targets to achieve USD5 billion in Assets Under Management (AUM) by , MISSION AND VALUESS ince the 1990s, sustainability has been integrated into CDL s corporate vision and mission to create enhanced value for our business and stakeholders.

9 Our sustainability vision and mission support CDL s business objectives and growth strategy as we evolve into the global real estate conglomerate of Vision and Mission We aim to be recognised by customers, employees and peers as an innovative creator of quality and sustainable will:Conceptualise spaces and solutionsRespect planet Earth Encourage diversity of people and ideasAdvance the communities we operate inTake prudent risk for sustainable returnsEmbrace a forward-looking mindsetCorporate ValuesWe must embody:Innovation Because this is crucial to our successCollaboration Because this is the best way to achieve exponential resultsIntegrityBecause this is at the core of everything that we doCorporate Ethos Conserving as We Construct Sustainability VisionChanging the Climate.

10 Creating Sustained MissionHarnessing our capitals with strong ESG performance to create long-term value for our business, stakeholders and the INTEGRATED SUSTAINABILITY REPORT 202102 INTRODUCTION AND LEADERSHIP STATEMENTSACCELERATING VALUE CREATIONALLEVIATING ENVIRONMENTAL IMPACTANCHORING INNOVATION FOR green , SAFE AND HEALTHY COMMUNITIESAMASSING SHARED ECONOMIC AND SOCIAL VALUEACHIEVING A FAIR, SAFE AND INCLUSIVE BUSINESS ENVIRONMENT TCFD AND SASB REPORTING ASSURANCE STATEMENTS GRI CONTENT INDEX GLOSSARYSUSTAINABILITY ACCOLADES AND AWARDSOnly Company in Southeast Asia and Hong Kong to maintain Double A s for Climate CHANGE (since 2018) and Water Security (since 2019)ESG Global 50 Top Rated and ESG Industry Top Rated in 2020 Only Singapore Real Estate Company listed since 2018 Global Sector Leader (Diversified Office/Retail-Listed); Overall Regional Sector Leader (Diversified)Since 2018 Since 2014 Rated Prime since 2018 ESG Leaders IndexESG Transparency Index since 2016 SAM Sustainability Yearbook 2021 Member; Dow Jones Sustainability Indices (World and Asia Pacific) since 2011 AAA rating since 2010 Top 7% Amongst Participants for Supplier Engagement on Climate ChangeOTHER AWARDS AND ACCOLADES: 50 Sustainability & Climate Leaders (hosted by Bloomberg) Asia Sustai