Ascendas Real Estate Investment Trust : Bank of America Global Real Estate Virtual Conference (16 September 2020)

ASCENDAS REIT

Bank of America Global Real Estate Virtual Conference

16 September 2020

Disclaimers

• This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other developments or companies, shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training, property operating expenses), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business.
• You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management regarding future events. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Ascendas Funds Management (S) Ltd ("Manager") nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation.
• The past performance of Ascendas Real Estate Investment Trust ("Ascendas Reit") is not indicative of future performance. The listing of the units in the Ascendas Reit ("Units") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST.
• This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.

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Key Highlights:

1H FY2020

Nexus @one-north, Singapore

Key Highlights for 1H FY2020

Financial Highlights

Distributable IncomeDistribution per Unit Investment Properties

S$263.2 m	7.270 cents	S$12.75 b
+3.7% y-o-y	-10.8%y-o-y
Asset Management		Capital Management

Stable Portfolio	Positive Portfolio	Healthy Aggregate	High Level of
Occupancy	Rental Reversion#	Leverage to	Natural Hedge
91.5 %	+5.4%	36.1%	>77.0%
As at 30 June 2020		From 35.1% as at 31 Dec 2020
# Percentage change of the average gross rent over the lease period of the renewed leases against the preceding average gross rent from lease start date. Takes into account renewed	4
leases in multi-tenant buildings that were signed 1H FY2020 and average gross rents are weighted by area renewed.