About the Managers

CDL Hospitality Trusts ("CDLHT") is a stapled group comprising CDL Hospitality Real Estate Investment Trust ("H-REIT"), a real estate investment trust, and CDL Hospitality Business Trust ("HBT"), a business trust.

CDLHT is managed by M&C REIT Management Limited (as manager of H-REIT) and M&C Business Trust Management Limited (as trustee-manager of HBT). Both the managers (the "Managers") are subsidiaries of Millennium & Copthorne Hotels Limited ("M&C"), one of the largest hotel owners and operators in the world. The Managers are responsible for the management and administration of CDLHT and the implementation of its strategy. Please refer to <<Overview of CDLHT>> for CDLHT's principal investment strategy.

M&C is a wholly-owned subsidiary of City Developments Limited ("CDL"), a leading global real estate company with a proven track record of over 55 years in real estate development, investment and management. CDL's income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, shopping malls and integrated developments. For more information, please visit https://www.cdl.com.sg.