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Singapore Exchange and a Constituent of the FTSE Straits Times Index Effective 4 June 2014

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Singapore Exchange and a Constituent of the FTSE Straits Times Index Effective 4 June 2014 Hyflux Innovation Centre The Kendall Aperia Investor Presentation April 2015 Disclaimers This material shall be read in conjunction with A‐REIT’s financial statements for the financial year ended 31 March 2015. This presentation may contain forward‐looking statements that involve assumptions, 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. 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 and occupancy, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support A‐REIT's future business. Investors are cautioned not to place undue reliance on these forward‐lookingstatements,whicharebasedontheManager’scurrentviewonfuture events. The value of units in A‐REIT (“Units”) and the income derived from them, if any, may fall as well as rise. 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 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 SGX‐ST. It is intended that unitholders of A‐REITmayonlydealintheirUnitsthrough trading on the SGX‐ST. Listing of the Units on the SGX‐ST does not guarantee a liquid market for the Units. The past performance of A‐REIT is not necessarily indicative of the future performance of A‐REIT. Anydiscrepanciesbetweenthefiguresinthetablesandchartsandthelistedamountsandtotalsthereofare due to rounding. 2 Agenda Overview of A‐REIT Key Highlights for FY14/15 Financial Performance Investment Management Capital Management Asset Management Portfolio Update Portfolio Resilience Portfolio Growth Market Outlook A‐REIT’s Strengths 3 Overview of Ascendas Real Estate Investment Trust . First and largest business space and industrial REIT listed on the Singapore Exchange and a constituent of the FTSE Straits Times Index effective 4 June 2014 . Total assets of about S$8.2bn (US$6.1 bn) as at 31 March 2015 . Issuer and senior unsecured rating of A3 by Moody’s Diversified portfolio – 104* properties in Singapore and 2 business park Business & properties in China; Tenant base of Science Park around 1,410 local and international companies Integrated High Specs Development, Industrial / Amenities & Data Centres Retail (“IDAR”) Light Industrial Logistics & / Flatted Distribution Factories Centres * As at 23 April 2015 4 Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub‐sector Business Parks (BP) Science Parks (SP) (as at 23 April 2015) Portfolio GFA (sqm) 331,569 339,505 % of A‐REIT ‐ by GFA 11% 11% ‐ by asset value 16% 18% Characteristics Zone is defined by Govt Master Plan. Zone is defined by Govt Master Plan. R&D Suburban office and corporate HQ space equipped with building specifications buildings. Manufacturing activities are not to facilitate R&D works. Manufacturing allowed. activities are not allowed. Typical tenants Regional corporate HQs of industrial Companies in research & development in companies and MNCs; backroom support various fields including life sciences, food office of financial institutions; IT firms, etc. and chemicals, data analysis and IT research and development, etc. 5 Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub‐sector Integrated Development, Amenities Hi‐Specs Industrial (Hi‐S) Data Centres (DC) (as at 23 April & Retail (IDAR) 2015) Portfolio GFA (sqm) 157,299 526,578 109,756 % of A‐REIT ‐ by GFA 5% 17% 4% ‐ by asset value 8% 18% 7% Characteristics Two or more types of space within one Vertical corporate campus with Building and M&E integrated development such as business higher office content combined with specifications (eg raised floor, space, retail and warehousing facility. high specifications mixed‐use high power capacity) to Typically larger scale developments. industrial space. enable space to be used as Possess requisite infrastructure and data centres. amenities to meet modern business needs. Typical tenants MNCs and corporates that desire quality Multi‐national industrial companies Multi‐national companies space at prominent location with and large local companies that wish providing data centre services comprehensive range of amenities to to co‐locate their HQ functions with such as cloud computing and house their corporate HQ and conduct manufacturing services, data storage. their businesses under one roof. engineering, R&D activities. Companies in the IT services, fast moving consumer goods, engineering, warehousing and retail activities. 6 Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub‐sector Light Industrial (LI) Flatted Factories (FF) Logistics & (as at 23 April 2015) Distribution Centres (Log) Portfolio GFA (sqm) 412,857 197,143 829,775 % of A‐REIT ‐ by GFA 14% 6% 28% ‐ by asset value 8% 4% 17% Characteristics Low office content combined with Stacked‐up manufacturing space Warehouses with high floor manufacturing space. used for general manufacturing. loading and floor height. Well Ground floor space tends to located near major transport command higher rental rate due to nodes e.g. airport, seaport & higher floor loading and better expressways. Majority are single accessibility. or multi‐storey facilities with vehicular ramp access Typical tenants Large local companies which Local small & medium‐size 3rd party logistics providers, house their light manufacturing enterprises engaged in various manufacturers, distributors and activities and HQ operations manufacturing activities. Some trading companies within a single facility. Higher MNC manufacturers also house manufacturing content compared their manufacturing operations in to Hi‐Specs Industrial buildings. such buildings. 7 A‐REIT’s Singapore Property Map . Strategically located along major expressways . Several properties e.g. Business Park, Science Park and some High‐Specs Industrial properties are in close proximity to CBD . Light Industrial and Hi‐Specs Industrial properties are primarily centrally located near major housing areas . Logistics and Distribution Centres are located near airport and seaport Suburban Business Space Integrated Development, Amenities & Retail Hi-Specs Industrial Light Industrial Logistics & Distribution Centre 8 China: Suburban Business Park Properties to Cater to Growing Demand Sub‐sector Business Park (China) Number of 2 Properties Portfolio GFA (sqm) 111,307 % of A‐REIT ‐ by GFA 4% ‐ by asset value 4% Location Tier 1 cities: e.g. Shanghai & Beijing Ascendas Z‐link Characteristics Suburban office, corporate HQ buildings. Well located and within easy access to public transportation networks. Typical tenants Higher value‐added industries such as IT and softwarecompaniesaswell as corporate HQs of multi‐ A‐REIT City @Jinqiao national companies and large local corporations. 9 A‐REIT’s Steady Growth since Listing Funds (S$m) Total Unitholders’ Amount Available for Distribution (S$m) for Distribution 10 Agenda Overview of A‐REIT Key Highlights for FY14/15 Financial Performance Investment Management Capital Management Asset Management Portfolio Update Portfolio Resilience Portfolio Growth Market Outlook A‐REIT’s Strengths 11 Key Highlights for FY14/15 . Total Amount Available for Distribution rose by 2.7% y‐o‐yto S$351.1m . DPU grew 2.5% y‐o‐y to 14.60 cents from 14.24 cents in FY13/14 . Higher portfolio occupancy of 87.7% (from 86.8% a quarter ago) . Key performance drivers were: • Positive rental reversion of 8.3% achieved over preceding contracted rental rates • Full year contribution from Nexus @one‐north and A‐REIT City @Jinqiao, and • Maiden contributions from Hyflux Innovation Centre and Aperia 12 Key Highlights for FY14/15 . Assets Under Management increased 10.9% to S$8.2 billion • Acquisitions S$770.6m • AEI S$60.0m • Divestment S$12.6m . Annual Property Revaluation: Capitalisation rate of 6.46% (vs. 6.57% in FY13/14) for Singapore Portfolio • Net revaluation gain of about S$47.0m @31 March 2015 . Proactive capital management • Healthy aggregate leverage of 33.5% with debt maturity of 3.6 years • 68.2% of borrowings is hedged for an average term of 3.7 years 13 Agenda Overview of A‐REIT Key Highlights for FY14/15 Financial Performance Investment Management Capital Management Asset Management Portfolio Update Portfolio Resilience Portfolio Growth Market Outlook A‐REIT’s Strengths 14 FY14/15 vs FY13/14 % FY14/15(1) FY13/14(1) (S$’000) fav/ (Restated) (unfav) Gross revenue(2) 673,487 613,592 9.8 Net property Income(2) 462,727 435,973 6.1 Total amount available for distribution 351,140 342,005 2.7 DPU (cents)(3) 14.60 14.24 2.5 (1) 107 properties as at 31 March 2015 and 105 properties as at 31 March 2014, including 1 which is classified as finance lease receivable. As at 31 March 2015, one of the properties is classified as property held for sale and was divested on 7 April 2015. (2) Higher revenue and net property income due to HIC and Aperia acquired in June
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