Broker Name: CGS International Securities Date of Report: November 5, 2025

Excerpt from CGS International Securities report.

• Report Summary
• Lendlease Global Commercial REIT (LREIT) proposed to acquire a 70% stake in PLQ Mall for S\$885m, expanding its Singapore retail exposure and boosting portfolio resilience and income stability.
• The acquisition will be funded by an equity raising, expected to result in a 2.5% uplift in proforma DPU; post-transaction, LREIT’s total assets under management will grow to S\$3.9bn, with increased suburban retail and essential services exposure.

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