Starhill Global Real Estate Investment Trust : Third Quarter FY 2021/22 Business Updates

3Q FY 2021/22 Business Updates

28 April 2022

 Singapore  Australia  Malaysia  China  Japan

•  Overview and Key Highlights

•  Portfolio Updates

•  Market Outlook

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Quality Assets

•  Portfolio of ~S$3.0 billion

•  10 mid- to high-end predominantly retail properties in six key Asia Pacific cities

Strategic Locations

•  Landmark assets at prime locations

•  Excellent connectivity to transportation hubs

•  Appeals to both local and international brands

Diversified Portfolio

•  Core markets: Singapore, Australia, Malaysia

•  Contribution to 3Q FY21/22 revenue: Retail (~86%) & Office (~14%)

Strong Sponsor

•  YTL Group owns ~37.7% of SGREIT

•  Has a combined market capitalisation of US$4.0 billion(1)

Income Visibility

•  Master/anchor leases with periodic rental reviews make up 52.7% of gross rents(2)

•  Staggered portfolio lease expiry profile and resilient occupancy

Notes:

• 1. Market capitalisation of YTL Corporation Berhad and its listed entities in Malaysia, as at 31 March 2022.

• 2. As at 31 March 2022.

Healthy Financials

•  "BBB" credit rating with stable outlook by Fitch Ratings, affirmed in February 2022

•  Gearing of 36.1%(2) and weighted average debt maturity of 3.5 years(2)

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Financial Performance

Gross Revenue

S$48.4 million

4.2% y-o-y

Resilient Operational Performance

Retail Portfolio

occupancy 97.4%(1)

Prudent Capital Management

Gearing 36.1%(2)

Net Property Income

S$38.5 million

8.7% y-o-y

Long WALE

7.3 years

by NLA

Affirmation of

"BBB"/Stable

credit rating by Fitch Ratings in February 2022

Expiring retail leases by gross rents in FY21/22 4.2%(2)

Notes:

• 1. Based on commenced leases as at reporting date.

• 2. As at 31 March 2022.

Recently secured a new S$50 million unsecured term loan facility to refinance debts maturing in September 2022; sufficient undrawn committed revolving credit facility lines to cover remaining debts due in FY22/23

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