Mapletree Pan Asia Commercial Trust : 1H FY22/23 Results Presentation

Mapletree Pan Asia Commercial Trust

1H FY22/23 Financial Results

27 October 2022

Important Notice

This presentation is for information only and does not have regard to your specific investment objectives, financial situation or your particular needs. This presentation does not constitute an invitation, offer or solicitation of any offer to sell or subscribe for, acquire or purchase any units in Mapletree Pan Asia Commercial Trust ("MPACT" and units in MPACT ("Units")).

The past performance of the Units and MPACT is not indicative of the future performance of MPACT or MPACT Management Ltd. ("Manager"). The value of Units and the income derived from them, if any, may rise or fall. The Units are not obligations of, deposits in, or guaranteed by the Manager, DBS Trustee Limited (as trustee of MPACT) (the "Trustee") or any of their respective related corporations or affiliates. 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 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 Singapore Exchange Securities Trading Limited (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 and financial information, including those that involve risks and uncertainties. Such forward-looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MPACT 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 MPACT or the Manager will operate in the future. Actual future performance, outcomes and results may differ materially from these forward-looking statements and financial information. 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. These forward-looking statements speak only as of the date of this presentation. No assurance can be given that future events will occur, that projections will be achieved, or that assumptions are correct.

Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital, occupancy rate, construction, development risks, capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses (including employee wages, benefits and training costs), property expenses, governmental, 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 the Manager's current view of 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. Neither the 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. This presentation shall be read in conjunction with MPACT's financial results for First Half Financial Period ended 30 September 2022 in the SGXNET announcement dated 27 October 2022.

The directors of the Manager (including those who may have delegated detailed supervision of this presentation) have taken all reasonable care to ensure that the facts stated and opinions expressed in this presentation which relate to MPACT and/or the Manager are fair and accurate and that there are no other material facts not contained in this presentation the omission of which would make any statement in this presentation misleading. The directors of the Manager jointly and severally accept responsibility accordingly.

Where any information has been extracted or reproduced from published or otherwise publicly available sources or obtained from a named source, the sole responsibility of the directors of the Manager has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this presentation.

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Content

▪	Key Highlights	Page 4
▪	Financial Performance	Page 7
▪	Portfolio Updates	Page 14
▪	Commitment to Sustainability	Page 30
▪	Outlook	Page 33
▪ Appendix 1: Market Information	Page 38
▪	Appendix 2: Asset Information	Page 51

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Key Highlights

VivoCity, SG

Key Highlights

1H FY22/23 DPU

4.941 Singapore cents

Up 12.5% year-on-year ("yoy")

NAV per Unit

S$1.81

Up 4.0% as compared to 31 March 2022

Aggregate Leverage

40.1 %

Comfortable debt headroom and sufficient financial flexibility

Assets Under Management ("AUM")

S$16.9 billion2

18 commercial properties across five key gateway markets of Asia

Portfolio Committed Occupancy

96.9 %

Maintained high occupancy as a result of robust leasing activity

Portfolio WALE

2.4 years

Stability of income with reduced concentration risk

1. This comprises MCT Clean-up Distribution of 3.04 Singapore cents per Unit for the period from 1 April 2022 to 20 July 2022 paid on 25 August 2022 and 1.90 Singapore cents of DPU for the period from 21 July 2022 to 30 September 2022 that will be paid on 7 December 2022.
2. Includes MPACT's 50% effective interest in The Pinnacle Gangnam.

Note: Where "Hong Kong" or "HK" is mentioned, it refers to the Hong Kong Special Administrative Region.

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