OUE Commercial REIT SGX-RHB Corporate Day 9 October 2019 Important Notice

This presentation should be read in conjunction with the announcements released by OUE Commercial Real Estate Investment Trust (“OUE C-REIT”) on 7 August 2019 (in relation to its Financial Results for 2nd Quarter 2019).

This presentation is for information purposes only and does not constitute an invitation, offer or solicitation of any offer to acquire, purchase or subscribe for units in OUE C-REIT (“Units”). The value of Units and the income derived from them, if any, may fall or rise. The Units are not obligations of, deposits in, or guaranteed by, OUE Commercial REIT Management Pte. Ltd. (the “Manager”), DBS Trustee Limited (as trustee of OUE C-REIT) or any of their respective affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. The past performance of OUE C-REIT is not necessarily indicative of the future performance of OUE C-REIT.

This presentation may 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 a number of risks, uncertainties and assumptions. These forward-looking statements speak only as at the date of this presentation. Past performance is not necessarily indicative of future performance. 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 and 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 and governmental and public policy changes. 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.

Investors should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on the Exchange Securities Trading Limited (the “SGX-ST”). It is intended that holders of Units (“Unitholders”) may only deal in their Units through trading on the SGX-ST. The listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

The information and opinions contained in this presentation are subject to change without notice.

2 Agenda

▪ Overview ▪ Merger with OUE Hospitality Trust ▪ Financial Highlights ▪ Portfolio Highlights ▪ Appendices

3 Overview Overview of OUE C-REIT

Successfully completed merger with OUE Hospitality Trust and effective from 4 September 2019

Total assets High quality prime assets S$2.9 billion(1) 7 High quality 7prime assets Market Capitalisation S$6.9billion 6 properties in Singapore and3 1 Assetproperty classes in Shanghai

OUE Bayfront One OUE Downtown Office Lippo Plaza Mandarin Orchard Singapore Crowne Plaza Changi Airport Mandarin Gallery

Upscale Hotels Asset sq ft classes 1.9 million sq ft 306,000 3 Prime retail space along Prime office space 1,640 rooms Orchard Road and core CBD

(1) As at 30 September 2019 Premium Portfolio of Assets

OUE Downtown Mandarin Orchard Crowne Plaza OUE Bayfront Mandarin Gallery Lippo Plaza Total Office Singapore Changi Airport Description Premium Grade A office Comprises two Grade A Grade A office Prime retail landmark Grade A commercial A world class Located at Singapore NLA: building located at office towers and a retail space, a mixed-used on Orchard Road – building located in hospitality icon in Changi Airport and Office: 1,884,968 Collyer Quay between mall located in development with preferred location for Huangpu, one of Singapore since close to Changi Retail: 306,508 the Marina Bay Singapore’s central offices, retail and flagship stores of Shanghai’s 1971, MOS is the Business Park Overall: 2,191,476 downtown and Raffles business district at serviced residences international brands established core largest hotel along Place Raffles Place at CBD locations Orchard Road 1,640 hotel rooms NLA (sq ft) Office: 379,951 Office: 614,006 Office: 530,002 Retail : 126,283 Office: 361,009 1,077 hotel rooms 563 hotel rooms Retail: 19,699 Retail: 99,323 Retail: 61,203 Occupancy(1) Office: 99.3% Office: 94.5% Office: 93.2% Retail: 99.5% Office: 89.2% - - Office: 94.1% Retail: 100.0% Retail: 97.8% Retail: 98.7% Retail: 98.3% Overall: 99.4% Overall: 95.1% Overall: 90.6% Overall: 94.5% Leasehold OUE Bayfront & OUE Office T1: 99-yrs from 19 July 99-yrs from 1 July 50-yrs from 2 July 74-yrs from 1 July 99-yrs from 1 July - Tenure Tower: 841-yrs from 1 Nov 1967 1957 1994 2009 1957 99-yrs from 12 Nov 2007 1985 OUE Link: Office T2: 15-yrs from 26 Mar 2010 99-yrs from 26 May Underpass: 1983 99-yrs from 7 Jan 2002 75% of Retail: 99-yrs from 1 Nov 1985 Valuation(2) S$1,173.1m S$1,813.5m(3) (S$2,542 S$920.0m S$494.0m RMB2,950.0m / S$1,227.0m (S$1.1m S$497.0m S$6,705.5m (S$2,935 psf) psf) (S$1,736 psf) (S$3,912 psf) RMB50,409 psm / key) (S$0.9m / key) S$580.9m(4) (S$1,376 psf) (1) Committed Occupancy as at 30 June 2019 (3) Based on OUB Centre Limited’s 81.54% interest in One Raffles Place. C-REIT has an indirect 83.33% interest in OUB Centre Limited held via its wholly-owned subsidiaries (2) As at 31 December 2018 (4) Based on SGD:CNY exchange rate of 1:57918 as at 30 June 2019 6 Well-Diversified Portfolio

Reduced concentration risk associated with exposure to any single real estate asset class

Mandarin Gallery 7% One Raffles Place Hospitality 27% 26% Crowne Plaza Changi Airport 7%

By asset(1) Mandarin Orchard By sector(1) Lippo Plaza Singapore 9% 18%

Commercial (Office/Retail) 74%

OUE Downtown Office 14% OUE Bayfront 18%

No single asset represents >27% of total portfolio

(1) Based on valuations as at 31 December 2018 7 Milestones Since Listing

▪ Strategic growth track with 2 acquisitions and 2 asset enhancement initiatives 2019(1) ▪ Transformative merger with OUE Hospitality Trust creates one of the largest diversified S-REITs S$6.9b FY2018 AUM FY2017 FY2015 FY2016 S$4.5b AUM S$3.4b S$3.4b S$3.5b Completed FY2014 AUM AUM AUM acquisition Successful merger Maiden Completed Debut of OUE by way of a trust scheme issuance of S$1.6b acquisition AEI to Downtown of arrangement (effective upgrade S$150 million Office from 4 Sep 2019) AUM of One Raffles common 3.03% fixed Place areas and rate notes (67.95% restrooms due 2020 effective at Lippo Commenced AEI at interest) Plaza One Raffles Place office tower Shopping Mall with Listed on SGX-ST Established S$1.5 co-working operator with two assets – billion Multi-Currency Spaces anchoring OUE Bayfront and Debt Issuance the AEI Lippo Plaza Programme

(1) As at 4 September 2019 Merger with OUE Hospitality Trust Increased Market Capitalisation and Improved Trading Liquidity

Increase in Market Capitalisation (S$ billion) Market Capitalisation (as at 30 Sep) 2.0x (S$ billion)

2.9

9.7 9.7 9.7 9.7

1.4

8.0 8.0 6.6 6.6

Pre merger Post merger 5.9

5.3 5.3 5.3 5.3

As at As at 4.3 4.3

28 Jun 19 (1) 30 Sep 19 4.2

3.1 3.1

2.9 2.9

2.9 2.9

2.8 2.8 2.8 2.8

Increase in Trading Liquidity (ADTV(2)) 2.6

2.0 2.0

1.9 1.9

1.9 1.9

1.8 1.8

1.8 1.8

1.8 1.8

1.6 1.6

1.5 1.5 1.4 1.4

(S$ million) 1.3

FLT

FCT FHT

MLT ART

CCT

SPH

SUN KDC

CMT MCT

MINT

FEHT

FCOT

CRCT

KREIT PREIT

5.1x AREIT

MNACT

CDREIT SGREIT Manulife

3.1 Cromwell

ESR-REIT OUEC-REIT

3M ADTV (4) 34 25 26 22 17 13 18 8 15 8 3 6 13 1 9 4 2 1 4 2 4 2 4 0.7 2 0.6 (S$ million)

(3) (4) Pre merger Post merger

Source: Bloomberg. Chart on right only includes REITs with primary listing on the SGX-ST which have a market capitalisation of at least S$1.2 billion as at 30 September 2019 (1) Last trading day of the quarter ended 30 June 2019 (3) For the year-to-date period ending 8 September 2019, the day immediately before the new OUE C-REIT units issued pursuant to the merger were listed (2) ADTV refers to average daily trading value (4) For the period from 9 September 2019, the first day of listing of the new OUE C-REIT units issued pursuant to the merger, to 30 September 2019 10 Enhanced Portfolio Diversification And Stronger Balance Sheet

Increased income resilience from portfolio diversification Enlarged balance sheet (S$ million) The rental payment under the hotel master lease agreements comprises:  Larger capital base − Minimum rent component – provides downside protection  Ability to undertake larger transactions and asset enhancement initiatives − Variable rent component – upside potential   Provide more flexibility for OUE C-REIT to react with greater speed Minimum rent of S$67.5 million 1,026 (1) per annum Ability to raise up to Hotel master lease S$414 million new (2) 20% agreements debt while 414 maintaining pro (2) 22% forma aggregate leverage

Revenue Contribution Ability to raise up to S$612 million via equity fundraising 612 58%(2)

OUE C-REIT FY2018 Revenue OUE H-Trust FY2018 Revenue C-REIT post merger

Equity capacity(3) Debt capacity(4) (1) Mandarin Orchard Singapore and Crowne Plaza Changi Airport’s master lease agreements are subject to a minimum rent of $45.0 million and S$22.5 million per annum respectively, totaling S$67.5 million (2) Based on OUE C-REIT and OUE H-Trust FY2018 revenue (3) Assuming that the general issue mandate is approved by unitholders of OUE C-REIT at an annual general meeting of OUE C-REIT following the merger, based on the enlarged number of OUE C-REIT units in issue of approximately 5,370 million OUE C-REIT Units and illustrative issue price of S$0.57 per OUE C-REIT unit (4) Assuming OUE C-REIT raises S$414 million of new debt while maintaining a pro forma aggregate leverage of approximately 40.3% per paragraph 8.1.4 of the circular dated 10 July 2019, following the S$612 million equity fundraising as described in note (3) above 11 Attractive Singapore commercial and hospitality sector fundamentals

Hospitality: Limited supply to drive Office: Positive outlook for reversions Retail: Resilient prime Orchard Road rents trading performance (Gross rents | S$ psf per month) (Rents | S$ psf per month) 11.0 $40 69,092 69,585 70,070 10.5 66,994 $35 10.0

9.5 $30 9.0

8.5 $25 8.0

7.5 $20

7.0 $15 6.5 2,098 6.0 -1,450 493 485 $10 2015 2016 2017 2018 2018 2019F 2020F 2021F

CBD

Q2 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 Raffles Place / New Downtown 2014 Q1 Shenton Way / Tanjong Pagar Total No. of Rooms YoY growth Orchard Road City Hall/Marina Centre Other City/City Fringe Suburban

◼ Overall Singapore office market outlook to ◼ Prime retail rents in Orchard are expected to stay ◼ Potential for upward trading performance driven by remain positive due to high occupancy amid resilient on the back of growing tourism arrivals and limited hotel room supply coupled with upcoming limited near-term supply in the core CBD limited prime retail space Singapore tourism developments and initiatives market

Sources: CBRE Q2 2019, Colliers International Research Singapore, Cushman & Wakefield, Singapore Tourism Board 12 Financial Highlights 2Q 2019 Financial Highlights

Driven by contribution from OUE Downtown Office which was acquired in November 2018 Revenue Net Property Income Amount Available for Distribution S$51.9 million S$40.8 million S$22.5 million 20.5% YoY 20.1% YoY 36.6% YoY

Portfolio & Financial Management Annualised Portfolio Aggregate Leverage Yield Committed Occupancy 6.3%(1) 94.5% 39.3% 0.5 ppt QoQ 1Q 2019: 39.4%

▪ Although Singapore’s CBD Grade A office rental growth has moderated, continued leasing momentum led to higher rents being achieved in 2Q 2019 while maintaining stable occupancy ▪ Positive rental reversions across Singapore portfolio

(1) OUE C-REIT’s annualised distribution yield based on 1H 2019 distribution per unit of 1.68 cents and unit closing price of S$0.54 as at 30 September 2019 14 2Q 2019 vs 2Q 2018

2Q 2019 2Q 2018 Change

Revenue (S$ m) 51.9 43.1 20.5%

Net Property Income (S$ m) 40.8 33.9 20.1% Amount Available for Distribution 22.5 16.5 36.6% to Unitholders (S$ m) DPU (cents) (actual) 0.78 1.06 -26.4%

DPU (cents) (restated) - 0.58(1) 34.5%

• Net property income of S$40.8 million in 2Q 2019 increased 20.1% YoY due primarily to the contribution from OUE Downtown Office which was acquired in November 2018 • The drawdown of OUE Downtown Office’s rental support, partially offset by higher interest expenses in 2Q 2019 as a result of higher borrowings, resulted in amount available for distribution of S$22.5 million, 36.6% higher YoY

(1) For the purpose of comparison, 2Q 2018 DPU has been restated to include the 1,288,438,981 new Units issued on 30 October 2018 pursuant to the rights issue (the “Rights Issue”) 15 1H 2019 vs 1H 2018

1H 2019 1H 2018 Change

Revenue (S$ m) 107.2 87.2 23.0%

Net Property Income (S$ m) 84.3 69.2 21.8% Amount Available for Distribution 48.6 33.9 43.2% to Unitholders (S$ m) DPU (cents) (actual) 1.68 2.18 -22.9%

DPU (cents) (restated) - 1.19(1) 41.2%

• Net property income of S$84.3 million in 1H 2019 was 21.8% higher YoY due primarily to contribution from OUE Downtown Office which was acquired in November 2018 • The drawdown of OUE Downtown Office’s rental support, partially offset by higher interest expenses in 1H 2019 as a result of higher borrowings, resulted in amount available for distribution of S$48.6 million, 43.2% higher YoY

(1) For the purpose of comparison, 1H 2018 DPU has been restated to include the 1,288,438,981 new Units issued on 30 October 2018 pursuant to the Rights Issue 16 Capital Management

▪ Aggregate leverage ratio as at 30 June 2019 was stable at 39.3%, with weighted average cost of debt of 3.5% per annum ▪ With 76.1% of debt on fixed rate basis, earnings are mitigated against interest rate fluctuations ▪ Every 25bps increase in floating interest rates is expected to reduce distribution by S$1.0 million per annum, or 0.03 cents in DPU

Debt Maturity Profile as at 30 June 2019 As at 30 Jun 2019 As at 31 Mar 2019

Aggregate Leverage 39.3% 39.4%

Total debt S$1,677m(1) S$1,685m(2) Weighted average cost of debt 3.5% p.a. 3.5% p.a. Average term of debt 3.0 years 3.3 years % fixed rate debt 76.1% 71.6% % unsecured debt 62.7% 62.2% Average term of fixed rate debt 2.2 years 2.1 years Interest cover ratio 3.1x 3.3x

(1) Based on SGD:CNY exchange rate of 1:5.079 as at 30 June 2019 and includes OUE C-REIT’s share of OUB Centre Limited’s loan (2) Based on SGD:CNY exchange rate of 1:4.958 as at 31 March 2019 and includes OUE C-REIT’s share of OUB Centre Limited’s loan 17 Portfolio Highlights Resilient and Stable Portfolio

▪ Lippo Plaza’s overall committed occupancy improved to 90.6% with the leasing of the vacant retail space during the quarter, resulting in a higher committed retail occupancy of 98.7% ▪ OUE Bayfront’s overall committed occupancy increased to 99.4% with the improvement in committed office occupancy and leasing up of retail space which is now fully occupied

Portfolio Committed Occupancy

(1) Proforma committed occupancy as at 30 September 2013 as disclosed in OUE C-REIT’s Prospectus dated 17 January 2014 19 Healthy Office Occupancy

Singapore

Shanghai

Source: CBRE, Colliers Shanghai 20 Committed Office Rents In Line Or Above Market

Comparable Sub-market Rents Average Expired (1) 2Q 2019 Committed Rents Sub-market Rents Colliers(2) Savills(3) Singapore New Downtown/ Marina OUE Bayfront S$13.75 S$11.50 – S$14.75 S$11.96 S$13.01 Bay

One Raffles S$9.46 S$9.20 – S$11.40 Raffles Place S$10.41 S$10.22 Place

OUE Shenton Way/ S$7.07 S$8.00 – S$9.20 S$10.03 S$8.87 – S$9.21 Downtown Tanjong Pagar Shanghai

Lippo Plaza RMB10.15 RMB8.35 – RMB11.20 Puxi RMB9.54 RMB10.26

▪ Renewal rents in 2Q 2019 for the Singapore properties continued to be higher than preceding rents, as market rental growth continued to be positive

(1) Committed rents for renewals and new leases (2) Source: Colliers Singapore Office Quarterly 2Q 2019 for Singapore comparable sub-market rents; Colliers Shanghai Office Property Market Overview 2Q 2019 for Shanghai comparable sub-market rents (3) Source: Savills Singapore Office Briefing 1Q 2019 for Singapore comparable sub-market rents; Savills Shanghai Grade A Office Market Update 2Q 2019 for Shanghai comparable sub-market rents Note: For reference, CBRE Research’s 2Q 2019 Grade A Singapore office rent is S$11.30 psf/mth. Sub-market rents are not published 21 Average Passing Office Rents

Singapore ▪ Average passing office rent for Singapore properties improved in 2Q 2019, due to positive rental reversions in the previous quarters

Shanghai ▪ Average passing office rent at Lippo Plaza was RMB9.86 psm/day as of June 2019

(1) Proforma average passing rents as at 30 September 2013 as disclosed in OUE C-REIT’s Prospectus dated 17 January 2014 22 Lease Expiry Profile - Portfolio

7.6% of OUE C-REIT’s portfolio gross rental income is due for renewal for the balance of 2019

WALE(1) of 2.2 years by NLA(2) and 2.4 years by Gross Rental Income

As at 30 Jun 2019

(1) “WALE” refers to the weighted average lease term to expiry (2) “NLA” refers to net lettable area 23 Lease Expiry Profile - OUE Bayfront

Well-positioned to benefit from a rising Singapore office market, with 24.3% of OUE Bayfront’s gross rental income due for renewal in 2019 and 2020

WALE of 2.6 years by NLA and 2.7 years by Gross Rental Income

As at 30 Jun 2019

24 Lease Expiry Profile - One Raffles Place

Approximately 34.7% of gross rental income due for renewal in 2019 and 2020, with expiring rents below current market rents

WALE of 2.3 years by NLA and by Gross Rental Income

As at 30 Jun 2019

25 Lease Expiry Profile - OUE Downtown Office

Rental revenue for OUE Downtown Office enjoys downside protection from income support arrangement

WALE of 1.8 years by NLA and by 1.9 years by Gross Rental Income

As at 30 Jun 2019

26 Lease Expiry Profile - Lippo Plaza

WALE increased to 3.3 years from 3.1 years a quarter ago, due to the long-term lease commitment of a new retail tenant

WALE of 2.6 years by NLA and 3.3 years by Gross Rental Income

As at 30 Jun 2019

27 Well-Diversified Portfolio Tenant Base

As at Jun 2019

28 Appendices • Singapore Office Market • Shanghai Office Market • Singapore Hospitality Market Overview of Singapore Office Sector

✓Singapore’s CBD – Comprises traditional areas of Raffles Place, Robinson Road/Cecil Street, Shenton Way/Tanjong Pagar as well as Marina Bay – Many established global financial institutions and headquarters of MNCs are located in Marina Bay and Raffles Place, while Robinson Road/Cecil Street and Shenton Way/Tanjong Pagar are popular with professional services companies and other financial, insurance and real estate companies

✓Historical supply-demand conditions – Annual average island-wide demand for office space from 2008 – 2017 was about 1.1 million sq ft, compared to annual average supply of 1.4 million sq ft over the same period. For 2018, island-wide net absorption was 1.6 million sq ft, compared to net new supply of 1.5 million sq ft. Singapore CBD Breakdown of Office Stock(1) (million sq ft)

Raffles Place

Marina Bay

Shenton Way/ Tanjong Pagar

Source: CBRE (1) CBRE Research Report, 2Q 2019 30 Singapore Office Market

▪ Core CBD Grade A office occupancy rose 0.9 ppt QoQ to 96.1% as at 2Q 2019, on the back of positive islandwide net absorption of 508,443 sq ft due mainly to the completion of an office building in the CBD fringe ▪ With slowing leasing momentum due to the uncertain economic outlook, Grade A CBD core office rental growth moderated to 1.3% QoQ in 2Q 2019, to S$11.30 psf per month

Source: CBRE 31 Singapore Office Demand and Supply vs Office Rental

Island-wide Office Demand, Supply and Office Rents

Source: URA statistics, CBRE Research 2Q 2011 was the last period where CBRE provided Prime office Rental data. Prime Grade A office rental data not available prior to 1Q 2002

32 Singapore Office Known Supply Pipeline

Benign office supply outlook for the Singapore core CBD over next 2 years

Office Supply Pipeline in Singapore (CBD and Fringe of CBD)

Note: Excluding strata-titled office Source: CBRE Research and respective media reports 33 Overview of Shanghai Office Sector

✓Puxi, the traditional business and commercial hub of Shanghai – Key office and commercial districts within Puxi are concentrated in the Jing’an, Huangpu and Xuhui areas, which together form the traditional downtown CBD of Shanghai – Puxi draws international retailers, service providers and MNC headquarters operations due to its good connectivity and excellent amenities, while Pudong’s Lujiazui caters to financial institutions due to policy and incentive-driven agglomeration

✓Historical supply-demand conditions – The six main districts that make up Shanghai core CBD provide Grade A office stock of about 7.57 million sq m as at 2Q 2019 – Average net demand for Shanghai CBD Grade A office from 2014 – 2018 was 426,000 sq m, compared to average net supply of 497,000 sq m over the same period. In 2018, net absorption was 635,000 sq m, 6.0% increase YoY. Net supply in 2018 was 408,000 sq m, significantly lower than in 2017

Key Districts of Shanghai CBD Breakdown of CBD Grade A Office Stock(1) (million sq m)

(1) Colliers International Research, 2Q 2019 34 Shanghai Office Market

Shanghai ▪ Shanghai CBD Grade A office occupancy edged up 0.8 ppt QoQ to 88.4% as at 2Q 2019, with rents easing 0.5% QoQ to RMB10.27 psm/day. Puxi Grade A office occupancy was 91.9% as at 2Q 2019, up 2.2 ppt QoQ, with rents at RMB9.54 psm/day

Puxi ▪ With a significant amount of new office supply scheduled to enter the Shanghai market in 2019, coupled with softer demand from a slower economy, rental growth is expected to be subdued in the near-term

Source: Colliers International 35 Shanghai CBD Demand, Supply and Vacancy

Grade A Net Absorption, New Supply and Vacancy Rate Office Supply Pipeline in Shanghai CBD

Source: Colliers International Shanghai, 2Q 2019 Source: Colliers International

▪ Shanghai CBD Grade A office supply expected to abate in the longer term

36 Singapore Tourism Board Forecasts Up to 4% Growth in Visitor Arrivals For 2019

Historical and Forecast Visitor Arrivals in Singapore (million)(1) YTD Aug 2019 Top 10 Visitor Arrivals (By Country) Vietnam South Korea 4% 18.7 – Visitor Arrivals YTD Aug 2019 5% 18.5 19.2 USA 17.4 5% 16.4 Philippines China 15.6 27% 15.1 15.2 6% 14.4 13.2 12.9 Japan Sep 11 and SARS Sub-Prime 6% 11.6 10.3 10.1 9.8 9.7 Australia 8.9 8% 8.3 Indonesia 7.6 21% Malaysia 6.1 8%

India 10% YTD Aug 2019 Top 10 Visitor Arrivals (By Country)

USA 12.2% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019F Japan 7.3% Philippines 5.9% China 5.1% (2) ▪ Visitor arrivals grew 1.9% YoY to 12.9 million in Jan-Aug 2019 and visitor days Australia 0.7% rose 3.2% YoY South Korea 0.1% ▪ For 2019, visitor arrivals are forecast to grow by up to 4% to 19.2 million(3) Malaysia -0.4% Indonesia -0.5% (1) Singapore Tourism Board, International Visitor Arrivals Vietnam (2) Singapore Tourism Board, International Visitor Arrivals Statistics, 9 October 2019 -2.0% (3) Singapore Tourism Board, Third Consecutive Year of Growth for Singapore Tourism Sector in 2018, 13 February 2019 India -2.0% 37 Singapore – Investment in Tourism

Upcoming Attractions and Developments Tourism Investment ✓ Greater Flight Connectivity New and increased flights to key markets of China, India, Japan and USA ✓ Partnerships to drive visitor arrivals and spending STB signed three-year partnership with Alibaba to attract Chinese visitors and a memorandum of cooperation with Traveloka to promote Singapore as a preferred destination from five major Rejuvenation of Orchard Road Rejuvenation and Expansion of Mandai Southeast Asian markets Precinct (~2020) ✓ Singapore is Qantas' largest hub outside Australia, following a S$5 million partnership between Qantas, STB and Changi Airport; and the opening of Qantas new First Lounge at Changi Airport end-2019 Source: Singapore Tourism Board and Singapore Airlines Media Releases Strong Leisure and Events Calendar Greater Southern Waterfront (~2027): Sentosa Redevelopment (~2030) housing, commercial and Merlion Gateway (2021 ) entertainment uses

Enhanced Aviation Facilities at Changi Airport ✓ Integration of Terminal 1’s expansion with Jewel will see Expansion of to include a 15,000-seat arena, a luxury increased capacity at Changi Airport hotel tower and additional MICE space ✓ Passenger traffic at Changi Airport grew 5.5% y-o-y to 65.6 million in 20181 ✓ Terminal 2 to commence expansion and upgrading of facilities in end-20192 ✓ Opening of Terminal 5 by ~2030 will increase capacity to 150 million passengers per annum3

(1) Changi Airport Group, Changi Airport Crosses 65 Million Passenger Mark In 2018, 29 January 2019. Resorts World Sentosa’s expansion Jurong Lake District (2) The Straits Times, Renovations to Expand Terminal 2 Start Later This Year, 1 July 2019. includes new attractions, hotels and developmental project (3) Changi Airport Group, Annual Report 2017/18. lifestyle offerings (~2026) Information & Image Sources: Websites of Changi Airport Group, Mandai Project, Sentosa Development Corporation, Singapore Tourism Board, Women’s Tennis Association, International Rugby Board, F1, International Champions Cup Singapore, Las Vegas Sands, Resorts World 38 Sentosa, Singapore Art Week, Singapore Food Festival, Ultra Singapore and The World’s 50 Best Restaurants. Thank You