SUNTEC REIT ENTERS ADELAIDE, AUSTRALIA

Acquires 55 Currie Street, Grade A Office Building in

Adelaide CBD

15 July 2019

Agenda

03 Investment Overview

04 Benefits to Unitholders

06 Investment Rationale

10 Summary of Investment Merits

2

Investment Overview

  • Acquisition of 100% interest in 55 Currie Street for
    A$148.3 mil
  • Freehold Grade A office building with approx.
    282,000 sq ft of NLA
  • 8.0% initial yield provides immediate DPU accretion
  • 91.6% committed occupancy with strong cashflow o Key Tenants: Commonwealth Government,
    South Australian Government, Allianz and Data Action
  • 27-monthsrent guarantee on vacant spaces
  • WALE of 4.4 years1 with annual rent escalation of 3.50% -3.75%
  • Total acquisition cost of approx. A$151.5mil (approx. S$145.4 mil2)will be funded by proceeds from private placement in April 2019
  • Acquisition expected to complete by end Aug '19

Notes:

  1. As at 1 July 2019
  2. Based on AUD:SGD rate of 0.96

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BENEFITS TO UNITHOLDERS

Benefits to Unitholders

Acquisition of high quality, freehold, Grade A office building located in the heart of Adelaide's CBD

DPU accretive: Improve earnings and enhance distributions to Unitholders

Initial NPI Yield: 8.0% DPU accretion (pro forma): +0.79% 1,2,3

Entry into growing Adelaide office market

Income growth through annual rental escalations

Enhance Income stability

Assets Under Management

Income Contribution

Australia, 23%

Australia, 17%

+8%

+6%

Enlarged

Enlarged

Portfolio4

Portfolio4

Singapore , 83%

Singapore , 77%

Notes:

  1. Based on 2018 DPU from operations
  2. Based on distributable income attributable to the property post acquisition at an average AUD:SGD rate of 0.96
  3. Based on 82,428,830 new placement units at $1.80
  4. Includes the completion of existing projects under development and the acquisition of 21 Harris Street, Pyrmont, Sydney, which was announced on 1 July 2019

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Suntec Real Estate Investment Trust published this content on 15 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2019 09:59:09 UTC