Mapletree Commercial Trust

1Q FY21/22 Business Updates

23 July 2021

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Important Notice

This presentation is for information only and does not constitute an offer or solicitation of an offer to sell or invitation to subscribe for or acquire any units in Mapletree Commercial Trust ("MCT" and units in MCT

("Units")).

The past performance of the Units and MCT is not indicative of the future performance of MCT or Mapletree Commercial Trust Management Ltd. ("Manager"). The value of Units and the income from them may rise or fall. Units are not obligations of, deposits in or guaranteed by the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that unitholders 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 may also contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of risks, uncertainties and assumptions. Representative examples of these factors include general industry and economic conditions, interest rate trends, cost of capital, occupancy rate, construction and development risks, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing. You are cautioned not to place undue reliance on these forward-looking statements, which are based on current view of management on future events.

Nothing in this presentation should be construed as financial, investment, business, legal or tax advice and you should consult your own independent professional advisors.

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Content

Key Highlights

Page 3

Financial Performance

Page 6

Portfolio Updates

Page 10

Outlook

Page 17

Key Highlights

VivoCity

Key Highlights

Financial Performance

  • 1Q FY21/22 performance impacted by retightened COVID-19 measures1 but less severe than a year ago
  • 1Q FY21/22 gross revenue and net property income ("NPI") higher mainly due to lower rental rebates and compensation from a lease pre-termination at mTower
  • Swiftly provided rental assistance to eligible retail tenants amounting to ~0.6 month of fixed rents during the quarter

Portfolio Performance

  • VivoCity's 1Q FY21/22 tenant sales and shopper traffic mainly impacted by five- week cessation of dining-in at all F&B establishments
  • Portfolio achieved 95.4% committed occupancy

1. Singapore entered Phase 2 (Heightened Alert) from 16 May to 13 June 2021 during which the government halted dining-in at all F&B establishments, capped the limit for social gatherings at two, and imposed work-from-home as the default work arrangement. The limit on social gatherings was raised to five from 14 June but dining-in could only resume (subject to group size limit of two) from 21 June 2021. Work-from-home directives continue to be in place to-date.

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Mapletree Commercial Trust published this content on 23 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2021 10:27:02 UTC.