CapitaLand Ascendas REIT : BofA Global Real Estate Conference New York, USA (13 September 2023)

CapitaLand Ascendas REIT

BofA Global Real Estate

Conference

New York, USA

13 September 2023

Aperia, Singapore

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 express 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 CapitaLand Ascendas REIT Management Limited ("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 of, reliance on or distribution of this presentation or its contents or otherwise arising in connection with this presentation.
• The past performance of CapitaLand Ascendas REIT ("CLAR") is not indicative of future performance. The listing of the units in the CapitaLand 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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Agenda

04

Overview

12

1H FY2023 Key Highlights

14

Financial Performance

18

Investment Management

23

Capital Management

29

Asset Management

46

Market Outlook

53

Portfolio Resilience & Sustainability

61

	Appendix:
FM Global Centre, Singapore	-	Singapore Occupancy
	(CLAR vs Industrial Average)
	-
	Average Market Rents
	-	Singapore Industrial Market - New Supply

20 Years of Par Excellence

SG-Only REIT	SG-focused REIT + International Exposure
	2015	2019
		2018

2002

2021

Initial Public Offering

Nov 2002:

5x oversubscribed at an issue

price of S$0.88 per unit.

						Entry into
Entry into Australia
				The United States
Oct/Nov 2015:
				Dec 2019:
26 logistics properties	Entry into
28 Business Parks
(S$1.0b)	Entry into Europe
The United Kingdom	(S$1.3b)
		Aug/Sep 2018:			Mar 2021:
			11 Data Centres in UK,
		38 logistics properties
			Netherlands, France &
			(S$0.8b)
				Switzerland (S$0.9b)

TOTAL INVESTMENT	S$0.6 billion	S$8.2 billion	S$17.0 billion
PROPERTIES

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CapitaLand Ascendas REIT

A global REIT anchored in Singapore, with a strong focus on tech and logistics properties in developed markets.

Singapore

United Kingdom /

United States	Europe

Australia

Investment Properties

~ S$17 b

Market Capitalisation

~ S$12 b

As at 30 Jun 2023

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