Frasers Day Frasers Property Limited November 2019 . Statements in this presentation constitute “forward-looking statements”, including forward-looking financial information. 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 Frasers Property Limited (“Frasers Property” or the “Company”) and its subsidiaries (together with Frasers Property, the “Group”), 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 Group’s present and future business strategies and the environment in which the Group will operate in the future. Because these statements and financial information reflect Frasers Property’s current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information as a result of these risks, uncertainties and assumptions and you are cautioned not to place undue reliance on these statements and financial information.

. Frasers Property expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement or financial information contained in this presentation to reflect any change in Frasers Property’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the Exchange Securities Trading Limited and/or any other regulatory or supervisory body or agency.

. This presentation includes market and industry data and forecast that have been obtained from internal survey, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Industry publications, surveys and forecasts generally state that the information they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information. While Frasers Property has taken reasonable steps to ensure that the information is extracted accurately and in its proper context, Frasers Property has not independently verified any of the data from third party sources or ascertained the underlying economic assumptions relied upon therein.

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

. Any discrepancies in the figures included herein between the listed amounts and total thereof are due to rounding.

. This presentation includes materials in slides 14 to 26 and slides 27 to 39 that are prepared by, and solely attributable to, Golden Land Property Development Public Company Limited and Frasers Property () Public Company Limited, respectively.

We are Frasers Property | Frasers Day Bangkok 2 We are Frasers Property

Panote Sirivadhanabhakdi Group CEO, Frasers Property Limited To be a world-class multi-national owner-operator-developer of real estate products in dynamic and resilient markets, and provider of real estate services complementary to its investments, guided by our unifying idea that both our customers’ and our experience matters.

We are Frasers Property | Frasers Day Bangkok 4 Frasers Property started its roots as a Singapore-focused business, with a valuable heritage and origins from being part of the F&N Group. 2017 2019 Formed Frasers Acquired Property Industrial 2014 listed Geneba 1983 Strategic Business 2008 Acquired Australand, a leading Properties NV Developed and Unit and Frasers Acquired Allco property company established opened the first Property Retail unit 2006 REIT and branded in 1924, and rebranded it as shopping centre, Launched its it as Frasers Frasers Property first REIT, Frasers Commercial Trust Centrepoint Trust

1983 2019

2013 Became a member of 2016 the TCC Group 1990 2014 Launched Frasers 2018 Logistics and Became a Listing of Frasers Property Acquired listed TICON Industrial Trust subsidiary of Fraser Limited and Frasers Industrial Connection Public and Neave Limited Hospitality Trust on Company Limited which was Singapore Stock Exchange subsequently rebranded as Frasers Property Thailand

We are Frasers Property | Frasers Day Bangkok 5 . We have businesses in Southeast Asia, Australia, Europe UK and China. Netherlands Germany France Hungary Switzerland Austria . Our well-established hospitality Spain Turkey footprint spans over 70 cities China Japan Saudi Arabia across Asia, Australia, Europe, Bahrain Qatar Middle East and Africa. UAE Oman India Nigeria Thailand

Malaysia Singapore > Indonesia 25 70

countries cities Australia Residential Commercial / Business Parks Industrial & Logistics Hospitality Retail We are Frasers Property | Frasers Day Bangkok 6 A multi-national real estate company with five asset classes

Residential Commercial & Hospitality Retail Industrial & Logistics Business Parks assets under 1 1 1 ~7,500 S$10.0b S$8.9b 1 S$5.0b management residential units S$8.3b assets under assets under >21,500 hospitality units completed and settled assets under management management management in FY19

6 REITs across 4 assets classes S$38.1b1 Total assets under management as at 30 September 2019

1. Comprises the full asset value of property assets in which the Group has an interest, including assets held by its REITs, joint ventures and associates, and acquisitions pending completion. We are Frasers Property | Frasers Day Bangkok 7 Building sustainable platforms

Uten Lohachitpitaks Group CIO, Frasers Property Limited FY16 Strategic Initiatives FY19

. Set up REIT1 platform with the . Entered Europe via the acquisition . Announced formation of listing of Frasers Logistics & of Geneba Properties and added a multi-national integrated Industrial Trust (“FLT”) development capability through industrial & logistics strategic the acquisition of Alpha Industrial business unit (“SBU”), Frasers . Assets under management Industrial Property Industrial (excluding Thailand): . FLT expanded into Europe & Logistics S$ 2.2 billion2 . Assets under management • Portfolio grew from initial (excluding Thailand): S$ 5.22 billion S$1.63 billion in value to S$3.44 billion in value

. Entered the residential and . Expanded into the industrial & . TICON was renamed Frasers mixed-use segments via a 39.9% logistics segment via a 80.8% stake Property Thailand stake in GOLD5 in TICON7 • Diversified platform by . Assets under management: . Amalgamated three property funds acquiring ~95.0%8 deemed Thailand S$ 1.06 billion into one REIT stake in GOLD, and started the process to delist GOLD . Diversified into data centre segment . Assets under management: S$ 7.2 billion6

1. Real estate investment trust. 2. Comprises industrial & logistics property assets (outside Thailand) in which the Group has an interest, including assets held by FLT. 3. Portfolio value as at listing in June 2016. 4. Portfolio value as at 30 September 2019. 5. Golden Land Property Development Public Company Limited. 6. Comprises property assets in Thailand in which the Group has an interest, including assets held by Golden Ventures Leasehold REIT and Frasers Property Thailand Industrial Freehold & Leasehold REIT. 7. TICON Industrial Public Company Limited. 8. Based on FPT’s submission to the Securities and Exchange Commission (“SEC”) on 24 October 2019. Building Sustainable Platforms | Frasers Day Bangkok 9 . Multi-national expertise in the industrial property sector

Development management + Netherlands Germany asset management + investment management Austria

Network positioned to support customers’ businesses across geographies

133 properties WALE4 . 4 countries Leveraging the Group’s collective 1 3.3m m2 6.6 years experience and scope S$5.2 b 9 year AUM2 GFA with 99% Poised to leverage existing occupancy3 average age strong connections in Southeast Asia through FPT

. Growing with FLT 2 ~S$300 1.1m m to FLT is a constituent of the FTSE development 500m EPRA/NAREIT Global Real Estate Index pipeline and GDV5 of facilities Australia Series (Global Developed Index) land bank delivered annually FLT acquired 136 properties from the Group for S$520.8 million in FY19

1. Comprises industrial & logistics property assets (outside Thailand) in which the Group has an interest, including assets held by FLT. 2. Assets under management. 3. By NLA. 4. By income. 5. Gross development value. 6. Includes the acquisition of two German properties which are yet to complete. Building Sustainable Platforms | Frasers Day Bangkok 10 Customer base of ~1000

Hermes Germany Speedmark Transportation Agility Logistics DHL Berli Dynaplast Woolworths Unilever Hitachi Metals Toshiba DB Schenker BJC Goods Mazda Yusen Logistics FOMM Frasers Property TNT Frasers Property Industrial DSV Solutions BIGL Thailand CHEP Robert Bosch H.J. Heinz L'Oreal Martin Brower Oerlikon Todenko ABB Automation Rhenus Three Bond Friesland Campina CEVA Central Watson Stanley Black & Decker Linfox M Logistics

Building Sustainable Platforms | Frasers Day Bangkok 11 Real Estate as a Industrial Pure Play Smart Industrial Play Integrated Play Regional Play Service 2017 2018 2019 Frasers Property became Built-to-suit Successfully major shareholder of specialist team rebranded to Frasers Property Thailand initiated to redesign customer journey and provide customer Advancing technology centric solutions and automation business to support Built-to-suit next-generation of industrial development model & logistics space initiated Transforming into an Integrated Real Estate Platform

Value accretive joint ventures and partnerships

3,484*

Net Profit 778 (In THB Million) 480 2017 2018 2019 2020 * Including profit attributable to former shareholder of GOLD before business restructuring. Building Sustainable Platforms | Frasers Day Bangkok 12 Industrial & logistics, Multi-sector Residential, commercial, mixed-use Integrated development data centre, smart solutions expertise

Businesses

REITs Bangna, Samutprakan Samyan Mitrtown, Bangkok One Bangkok, Bangkok

2.7million m2 241,000 m2 1.8million m2 industrial GFA1 commercial and retail NLA2 GFA

2 Grade A office luxury and Market 60,000 m 1,100 5 towers 5 lifestyle hotels leader with data centre GFA under development Hospitality keys significant 2 ultra luxury distinctive retail scale 17,000 m 53 3 condominiums 4 precincts co-working space residential projects under development THB 48b combined REIT portfolio value

1. Gross floor area. 2. Net lettable area. Building sustainable platforms | Frasers Day Bangkok 13 Reshaping Bangkok Leveraging our residential and mixed-use capabilities to build communities

Thanapol Sirithanachai President, Golden Land Property Development Residential Projects Revenue Breakdown “Sales of Real Estate” 2019 . Single detached houses . Town houses 11% Recurring Income

Rental & Service

Others

Commercial Projects 17,388

“Recurring Income” MB . Offices for rent . Investment in hospitality Residential

89% Income from Sales

Reshaping Bangkok | Frasers Day Bangkok 15 Categories Brands Price Level 37 active Ayutthaya Single Detached 25-40+MB Luxury House 10-25MB 53 projects 20 Single Detached Mid-high 7-10MB 12 House Don Mueang Nonthaburi International Airport 7 18,27,42 Single Detached Mid-mid 5-7MB 33,39 22,40 House 34 5,13,26,6 2 Semi Detached 17,29 3.5-5MB Bangkok House 28 35 Suvarnabhumi 15,38,16 3,4,32 International Airport Townhouse 3 3-5MB 8 Floors 9,11,21,23,41 1 Mid-low Samut Sakorn 10,14,19,31 Samut Prakarn Townhouse 2 2-3MB 36 Floors Townhouse 30 Projects 25 Single / Semi detached house 23 Projects Townhouse + Sriracha Semi & Single 2-5MB Chonburi Detached House Total 53 Projects

Reshaping Bangkok | Frasers Day Bangkok 16 2011 2016 2019

2 Pre-2011 241,000m Commercial & Retail NLA 1,100 Hospitality Keys

Reshaping Bangkok | Frasers Day Bangkok 17 2 Golden 214,000m Land Commercial & Retail NLA Buildin g 1,100 Hospitality Keys

Golden Land Building

Samyan Mitrtown Mayfair Marriott

FYI Center Modena Sathorn Square W Bangkok

The Ascott Sathorn

Reshaping Bangkok | Frasers Day Bangkok 18 Chulalongkom Landlord University

13-3-93.64 Rai Land (22,375 sqm)

Investment 49% stake

Project Value 8,900 MB

Development 3 years Periods

Reshaping Bangkok | Frasers Day Bangkok 19 Smart Friendly Knowledge hub Food hub

Reshaping Bangkok | Frasers Day Bangkok 20 2 48,000m Intelligent office tower Mitrtown Office Tower

516 units Office Triple Y Residence

Residence Neo-explorer living platform 102 keys Triple Y Hotel 2 Retail 36,000m +1,578 parking spaces Urban-life library Samyan Mitrtown Plaza

Reshaping Bangkok | Frasers Day Bangkok 21 Rebuilding Unlocking Building Extending Consolidating Adding Harvesting Foundation Value Growth Growth Advantage Value Success

M THB 2013 2014 2015 2016 2017 (9M) 2018 2019 Jan – Sep 17 Oct 17 – Sep 18 Oct 18 – Sep 19

49,500 47,198

44,500 39,202 39,500

34,500 30,805 30,207 Compared 28,823 to 2018 29,500

24,500 23,312 21,270 22,042 +10% Revenue 19,500 16,441 17,388 15,010 15,796 13,908 14,118 14,500 12,580 10,796 +4% 8,592 9,352 9,500 6,693 Net Profit 4,445 4,500 2,101 2,180 1,594 357 648 1,037 1,086 (454) (500) Total Assets Total Liabilities Total Revenue Net Profit (Loss)

Reshaping Bangkok | Frasers Day Bangkok 22 Reshaping Bangkok | Frasers Day Bangkok 23 Reshaping Bangkok | Frasers Day Bangkok 24 GOLD Total Revenue Descriptions Frasers Property Total Revenue Descriptions

Residential ≈ 89% Low-Rise Residential Projects

Ready-Built Factory & Commercial 6% Office Building ≈ 26% ≈ Warehouse

Hotel Business Hospitalities ≈ 3% (Ascott, Modena, W Bangkok, Mayfair Marriott)

Sales of Properties ≈ 63% Built-to-Suit, REIT

REIT Management Management Fee ≈ 1% ≈ 5% REIT Management (FTREIT) (GVREIT, GOLDPF)

Golf course, Renovation, Utilities Provider, Others ≈ 1% ≈ 6% Other Investments License Preparations

*Calculated by 9 months performance : Oct 2018 - Jun 2019 Reshaping Bangkok | Frasers Day Bangkok 25 Frasers Property (Thailand) PLC

Residential Commercial 10% 5% Others Others

48% Frasers 41% Property Asset FPHT 95% Hospitality Mixed-use Frasers Property (Thailand) PLC

Retail Logistic & Industrial

Reshaping Bangkok | Frasers Day Bangkok 26 Redefining industrial & logistics in Thailand Leveraging our collective expertise to offer a differentiated, customer-centric proposition

Sopon Racharaksa President, Frasers Property Thailand Industrial Smart Industrial Integrated Regional Real Estate as Pure Play Play Play Play a Service

89.5% Listing of property funds on the SET 2005 2009 2013 2017 1990 New built-to-suit development model initiated Established 2019 Development of Frasers group Frasers Property Rebranded to Frasers Property Ready built became major shareholder (Thailand) Public Company Limited industrial property portfolio

1990 2019

2018

2002 2005 2015 Listed on The debut of TICON Listing of TREIT the SET logistics park on the SET Advancing partnership for sustainability

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 28 Thailand Infrastructure Industrial and logistics sectors have recovered from a multi-year downturn, development will play a key role in with rebounding demand driven by EEC & US-China trade war while future industrial development. developers continue acquiring prime sites despite economic slowdown.

Thailand Ready Built Factory (RBF) Supply, RBF supply in RBF rental rate Industry China demand and occupancy rate 2014-2018 key provinces by location 6.0 77% 76% 76% 77% 80% Chachoengsao Chonburi 200 250 highlight Prachinburi 3% 1% Pathumthani 6% Samutprakarn123 230 Myanmar 4.0 Saraburi 6% Rayong 200 220 Laos Ayutthaya 140 200 Electronics 2.0 Chonburi Saraburi Ayutthaya 31% 180 230 15% Pathumthani 180 190

Auto, sqm) (million Textile, Rayong Prachinburi 170 185 0.0 Samutprakarn Agriculture 17% Chachoengsao Thailand 2014 2015 2016 2017 2018 21% 240 250 Auto, Total supply Total take-up Electronics Occ rate Food, Petrochem & Cambodia Logistics Thailand Warehouse Supply, demand Warehouse supply Warehouse rental Vietnam and occupancy rate 2014-2018 in key provinces rate by location Lamphun Rubber, 8.0 81% 79% 81% 82% 85% 2% Saraburi Samutprakarn 110 190 Tourism 1% Pathumthani 2% Chonburi 120 200 6.0 Samut … Khon Kaen 3% Ayutthaya 120 155 4.0 Rayong 4% Chachoengsao 100 180 Bangkok 7% Samutprak Bangkok 120 180 2.0 arn Rayong 150 180 33% Chachoeng Khon Kaen

(million sqm) (million 100 110 East-West Economic Corridor 0.0 sao 9% Pathumthani 140 180 North-South Economic Corridor 2014 2015 2016 2017 2018 Ayutthaya 13% Lamphun 120 125 Chonburi Southern Economic Corridor 25% Saraburi 100 160 Total supply Total take-up Samut Sakhon 120 155 Occ rate

Source: ASEAN information center, Government Public Relation Department Redefining industrial and logistics in Thailand | Frasers Day Bangkok 29 Momentum from ongoing positive structural shifts in the sector New Supply Chain Model: Warehouse as a center of gravity

Macro Positive High Rapid demographic infrastructure urbanisation profile investment E-Commerce Consumers 4.0 e-Shop Industry Increasing New Industry Greater e-commerce 4.0 & special implementation platforms economic zones of technology

. Robust demand for logistics property driven by growth of E-Commerce, Retail Shop Warehouse Omni- Omichannel and FMCG Channel . Rapid urbanisation, limited supply and requirement for innovation and robotic technology are driving demand for industrial property spaces

. Relocation of foreign companies to Thailand following the trade war will enlarge local supply chain ecosystem which in turn boosts demand for factories & warehouses Factory Factory Individual/ . Adoption of Industry 4.0 will give rise to smart industrial facilities with SMEs higher specifications powered by intelligent management tools and automated vehicles

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 30 FPT Thailand’s largest provider of Ready-Built Locations Total Asset Under Across 11 provinces covering Management (AUM) factory and warehouse nationwide 40 major industrial & logistics clusters 6

1 “Distribution Center” 3PL Modern Trade Type of • 26% Auto • Food/Beverage 22% IP assets Customer Warehouse • Consumer Products Electronic Factory product 12% 1.60 mn sq.m. 1.15 mn sq.m. • Agriculture Northern 32% Others BKK 10% 21.9% 2 “City Logistics” 86% 5.1% other 35.1% Singapore Japan • e-Commerce FMCG Breakdown of • FMCG IP tenants 5.3% • Food & Beverage USA Central 15.4% 17.2% • Healthcare 13% 3PL region Germany Thailand

“Manufacturing & 82% 3 Auto Trade Logistics” Electronic 74% 3PL 17% Occupancy 69% • Automotive 9% rate 46% Others • Electronics Eastern • Export/Import 28% region FY 2017 FY 2018 FY 2019

in key industrial and logistics regions of Thailand Redefining industrial and logistics in Thailand | Frasers Day Bangkok 31 Land Master Project Asset Lease Property Design Construction Acquisition planning Management Management Management Management Framework/Process in-house expertise to deliver bespoke solutions to our customers

Modular design provides flexibility in logistics planning Corporate identity

Employee centered workplace Automation/Robotic

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 32 Bangplee, Samutprakan Bangplee, Samutprakan

Low Lighting High efficiency Sustainable Solar Uni-flow Natural Natural Power Density water fixtures materials rooftop traffic ventilation light office

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 33 E-Commerce and Lifestyle Distribution Center

. Future proofing . Corporate identity . Warehouse: natural ventilation . Uni-flow traffic . Office: natural lighting . Employee-centered workplace . Centralised canteen catering to about 1,000 staff on site

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 34 ASRS Temperature Ambient Bangplee, Samutprakan Floor Load 10T/m2 -25°C / -18°C / 4°C Floor Load 3.5T/m2 Clear Height 33.7m 25C Ambient Clear Height 12m Roof Solar panel / Sky light 49,538 sqm Land Area Cold Room (~31 rai) Floor Load 3.5T/m2 Clear Height 12m Net Lettable 30,649 sqm Area Expected 26 March Date of 2020 Completion

Lease 31 October Expiry Date 2039

19 years Lease Term 7 months 5 days

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 35 Thailand’s first World-Class logistic campus Thailand’s largest DHL distribution campus for Central Retail Group

Completed 15 Jan 2019

131,000m2 Bangplee 2, Samutprakan Total NLA

Thailand’s largest CP Group Fresh Food distribution campus

Expected Completion by 3Q20

108,000m2 28,051m2 Bangplee, Samutprakan Total NLA Samutsakorn Total NLA

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 36 Partnered with Mitsui Fudosan

Bangpakong Logistic Park Bangpakong ,Chachoengsao

The technology-led smart industrial and logistic parks

2.99 km2 Land Area (~187 rai)

Net Lettable 1.64 km2 Area

Expected Q4/2020 Date of with Completion NLA of for 1st phase 0.42 km2

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 37 Partnered with Mitsui Fudosan

Wangnoi Logistics Park Wangnoi, Ayutthaya

The prime distribution center node to northern and northeastern part of Thailand

2.5 km2 Land Area (~156 rai)

Net Lettable 1.01 km2 Area

Expected Q4/2020 Date of with Completion NLA of for 1st phase 0.24 km2

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 38 Partnered with Sahathai Terminal

Bangkok Logistics Park

Last mile logistics park, 20 minutes from CBD area with direct connection to industrial ring road and highways

72k m2 Land Area (~45 rai)

Net Lettable 35k m2 Area

Expected Date of Q4/2020 Completion

Redefining industrial and logistics in Thailand | Frasers Day Bangkok 39 Experience matters.