General Announcement::Business Updates for the third quarter ended 30 June 2021

Frasers Centrepoint Trust

Business updates for the Third quarter ended 30 June 2021

22 July 2021

• Certain statements in this Presentation constitute "forward-looking statements", including forward-looking financial information. Such forward-looking statement and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of FCT or the Manager, 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. Such forward-looking statements and financial information are based on numerous assumptions regarding the Manager's present and future business strategies and the environment in which FCT or the Manager will operate in the future. Because these statements and financial information reflect the Manager's current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information.
• The Manager expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement or financial information contained in this Presentation to reflect any change in the Manager'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 regulatory or supervisory body or agency. The value of Units in FCT and the income derived from them may fall as well as rise. The Units in FCT are not obligations of, deposits in, or guaranteed by, the Manager or any of their affiliates. An investment in the Units in FCT is subject to investment risks, including the possible loss of the principal amount invested. Unitholders of FCT should note that they have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders of FCT may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
• This Presentation contains certain information with respect to the trade sectors of FCT's tenants. The Manager has determined the trade sectors in which FCT's tenants are primarily involved based on the Manager's general understanding of the business activities conducted by such tenants. The Manager's knowledge of the business activities of FCT's tenants is necessarily limited and such tenants may conduct business activities that are in addition to, or different from, those shown herein.
• This Presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of FCT. The past performance of FCT and the Manager is not necessarily indicative of the future performance of FCT and the Manager.
• This Presentation includes market and industry data and forecast that have been obtained from internal survey, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Industry publications, surveys and forecasts generally state that the information they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information. While the Manager has taken reasonable steps to ensure that the information is extracted accurately and in its proper context, the Manager has not independently verified any of the data from third party sources or ascertained the underlying economic assumptions relied upon therein.
• This advertisement has not been reviewed by the Monetary Authority of Singapore.

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3Q21 Highlights

Northpoint City, Singapore

• FCT retail portfolio occupancy stable at 96.4%1
• Shopper traffic between April and June 2021 fell to around 60% of pre-COVIDlevel, due to implementation of Phase 2 (HA) measures
• Portfolio tenants' sales nudged back to around pre-COVIDlevels despite tightened measures during Phase 2 (HA), performance was underpinned by the resilience of FCT's portfolio of suburban malls

• Renewed substantial expiring leases due in FY2021, with only 8% remaining to renew in 4Q21
• Gearing level at 33.9%, strong financial position with ample debt headroom to support future growth
• Completed the divestment of YewTee Point on 28 May 2021

1. Including committed leases

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Resilient performance and sustained recovery above general market

Jump in y-o-y variance in April and May mainly due to low base effect

YoY Change

Retail Sales value (ex auto)1 versus FCT portfolio tenants' sales2

150.0%					Retail sales value			FCT Portfolio tenants' sales
													Jump in year-on-year			115.2%
															variance mainly due to low
100.0%														base effect during the
		y-o-y														Circuit Breaker period in				61.2%
		change
															the previous year
50.0%
0.0%
-50.0%
-100.0%
Jan	Feb		Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May
								2020									2021
		Retail sales value	-0.6%	-9.6%	-9.9%	-31.6%	-44.2%	-23.7%	-7.9%	-8.6%	-12.6%	-11.2%	-2.7%	-4.3%	-8.7%	7.1%	4.1%	38.0%	61.2%
		FCT Portfolio tenants' sales	-0.9%	-3.1%	-6.0%	-45.2%	-58.7%	-30.4%	0.1%	-1.0%	-4.8%	-1.4%	2.9%	-0.1%	0.7%	12.4%	6.1%	81.7%	115.2%

1. Retail Sales value (ex auto) from Singapore Department of Statistics, 5 July 2021. See Appendix for table of values.
2. FCT's portfolio tenants' sales adjusted to exclude Bedok Point, Anchorpoint and YewTee Point, which have been divested.

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