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About Treasury China Trust 1 2010 at a Glance 2 Competitive Strengths of TCT 3 Significant Announcements for 2010 4 Chairman’s Statement 5 Trust Structure 10 Statement on Composition of the Board of Directors 11 Trustee-Manager’s Report 14 Management Team of Trustee-Manager and Property Manager 29 Corporate Social Responsibility 33 Corporate Governance Report 35 Financial Statements 43 Statistics of Unitholdings 85 Notice of Annual General Meeting 87 Notes to Proxy Form 90 Proxy Form

Corporate Information

CONTENTS

DISCLAIMER

This document does not constitute an offer to sell or the solicitation of an offer to purchase any interest in or related to any real estate, securities, or other investment products or assets. This document is provided for informational purposes only and is intended solely for the person to whom it is delivered. Information contained in this document is accurate only as of its date, regardless of the time of delivery or of any investment, and does not purport to be complete. This document may contain material non-public information. This document is confidential and may not be reproduced or distributed without the express written consent of Treasury Holdings Real Estate Pte. Ltd (“Trustee-Manager”). Any offer to sell or the solicitation of an offer to purchase any interest in or related to any real estate, securities, or other investment products or assets may only be made by means of delivery of an offering memorandum which will contain material information not included herein and shall supersede, amend and supplement this document in its entirety. Certain statements in this document constitute “forward-looking statements”. Such forward-looking statements and financial information are based on numerous assumptions regarding the TCT’s present and future business, and its strategies and the environment in which TCT will operate in the future. Such forward-looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of TCT, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements and financial information. These forward-looking statements and financial information speak only as at the date of this announcement. TCT expressly disclaims any obligation or undertaking to release publicly any updates of or revisions to any forward-looking statement or financial information contained herein to reflect any change in TCT’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the SGX-ST and/or any other relevant regulatory or supervisory body or agency. February 2011

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