CDL Hospitality Trusts' objectives are to maximise the rate of return of Stapled Security Holders and to make regular distributions. The Managers plans to achieve these objectives through the following strategies:

1. Acquisition Growth Strategy

• Pursue quality assets with growth potential
• Pursue asset class diversification within the lodging space and promote income stability
• Adopt a medium to long term perspective to ride through market cycles
• Partner with or tap on potential pipeline from M&C/CDL

2. Asset Management Strategy

• Work closely with master lessees, hotel/property managers and/or operators to implement active revenue and cost management
• Implement asset enhancement initiatives to optimise asset potential
• Operate and invest in alignment with relevant ESG standards

3. Capital Recycling Strategy

• Evaluate divestment opportunities periodically to recycle capital for better returns, rebalance portfolio and/or unlock underlying asset values
• Continually improve quality of portfolio

4. Capital and Risk Management Strategy

• Maintain a healthy balance sheet
• Enhance financial flexibility by maintaining diversified sources of funding
• Manage exposure arising from interest rates and foreign exchange through appropriate hedging strategies