Keppel : REIT Key Business and Operational Updates for the Third Quarter 2020

The Directors of Keppel REIT Management Limited, as Manager of Keppel REIT, are pleased to provide the key business and operational updates of Keppel REIT for the third quarter of 2020.

Keppel REIT achieves distributable income from operations of $47.6 million for 3Q 2020

Key Highlights

• Distributable income from operations¹ for the third quarter of 2020 (3Q 2020) was $47.6 million, bringing total distributable income for the nine months of 2020 (9M 2020) to $142.4 million.
• Lengthened portfolio weighted average lease expiry (WALE) to 7.1 years and maintained high portfolio committed occupancy of 98.3%.
• Issued two tranches of perpetual securities, totalling $300 million at a coupon rate of 3.15%.
• Aggregate leverage was 35.0% and all-in interest rate was reduced to 2.39% per annum.
• Optimising portfolio and expanding into Sydney's Grade A metropolitan office space with the proposed acquisition of Pinnacle Office Park.

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¹_{As Keppel REIT has adopted half-yearly distributions from 2H 2020 onwards, any distribution of capital gains for 2H 2020 will be disclosed at the
FY 2020 results announcement.}