Kore Us Reit · SGX:CMOU
Kore Us Reit — Keppel Pacific Oak US REIT — Shareholder Meeting (June 2020)
19 slides from Kore Us Reit's shareholder meeting presentation, Jun 3, 2020
Slide 1: Annual General Meeting 3 June 2020
Annual General Meeting 3 June 2020 Keppel
Slide 2: Important Notice
Important Notice The past performance of Keppel Pacific Oak US REIT is not necessarily indicative of its future performance. Certain statements made in this release may not be based on historical information or facts and may be “forward-looking” statements due to a number of risks, uncertainties and
Slide 3: Key Highlights of FY 2019
Key Highlights of FY 2019
Slide 4: Delivered Growth in FY 2019
Delivered Growth in FY 2019 Strengthened foothold in key growth markets with two value accretive acquisitions in 2019 - Maitland Promenade | (Florida) and One Twenty Five (Dallas) L = Ty Maitland Promenade I, which is adjacent to Maitland Promenade Il, allows KORE to harness operational synergies an
Slide 5: Driving Operational Excellence
Driving Operational Excel Presence in first choice submarkets ein key growth markets Exposure to growth and defensive and healthcare, comprise 36.3% of portfolio NLA. CCTs cu Pacific Oak US REIT sectors of technology, Highly ¢ diversified portfolio with low tenant concentration ¢ risk Top 10 tenants
Slide 6: Growth Trajectory since IPO
Growth Trajectory since IPO 52% Gro 31 December 2019 Portfolio value: Ni ber 2019 ERED $5126 bition 9 November 2017 January 2019 @ . Portfolio value: Decembouz O15 Re wi Twenty Five 13 office buildings US$0.83 billion . Maitland Promenade | alas, Texas and business The Westpark Portfolio Orlando, Fl
Slide 7: First Choice Submarkets in Key Growth Markets
First Choice Submarkets in Key Growth Markets SEATTLE, WASHINGTON. O The Ptaza Buildings (© Bellevue Technology Genter (© The Westpark Portfolio DENVER, COLORADO O Westmoor Center AUSTIN, TEXAS. © Great Hills Plaza Westech 360 HOUSTON, TEXAS (© 1800 West Loop South O Bellaire Park’ DALLAS, TEXAS @©
Slide 8: 1Q 2020 Operational Updates
1Q 2020 Operational Updates Tenant space at The Westpark Portfolio Seattle, Washington
Slide 9: 1Q 2020: Key Financial Performance
1Q 2020: Key Financial Performance Functional collaborative spaces provide a live-work experience fortech tenants. Pictured here is Bellevue Technology Center in Seattle, Washington. * 16.1% YoY increase to distributable income * Reverted to original tax structure following the issuance of the Final
Slide 10: • • • 41.0% 39.9% 16.9% 17.0% 14.5% 13.8% 14.0% 10.0% 11.6% 9.6% 6.0%
• • • 41.0% 39.9% 16.9% 17.0% 14.5% 13.8% 14.0% 10.0% 11.6% 9.6% 6.0% 5.7%
Slide 11: Resilient Portfolio
Resilient Portfolio * Highly diversified portfolio with low tenant concentration risk * Top 10 tenants contribute only 19.5% of CRI, with the largest tenant only contributing 3.5% of CRI * KORE?’s buildings and business campuses in the tech hubs of Seattle, Austin and Denver contribute ~55% of CRI T
Slide 12: Prudent Capital Management
Prudent Capital Management Limited interest rate exposure with term loans significantly hedged As at 31 March 2020 Debt Maturity Profile Total Debt Available Facilities Aggregate Leverage?) All-in Average Cost of Debt) Interest Coverage) Average Term to Maturity * USS$480.4 million of external loans
Slide 13: Westmoor Center, Denver, Colorado
Westmoor Center Denver, Colorado
Slide 14: Ensuring Business Continuity, Safety is Priority
Ensuring Safety is Priority Business Continuity • • • • • •
Slide 15: Tenant: 1800 West Loop South, Houston, Texas
Tenant , 1800 West Loop South Houston, Texas
Slide 16: Last 12 Months Rent Growth
Last 12 Months Rent Growth 75% 1% Key Growth Markets Gateway Cities 7% "2 6.9% \ H H 5.0% 5.1% Hi H H 1 3.6% 3.6% 3.8% ! H 41% 3.4% 3.3% H H 2.5% 2.4% 22% 2.4% H 12% 1.4% H 0.1% H | i ~ H H H H H H H H s 9 ° xs & x 3 . 3S we RS Mm Last 12M Rental Growth = Key Growth Markets Average —— United States
Slide 17: Projected 12-Month Rent Outlook
Projected 12-Month Rent Outlook 31% Key Growth Markets Gateway Cities 2.0% 73% 2.2% | [ I 0.0% 0.6% .2% = me | L | -0.6% -0.7% -0.5% -0.6% “1.6% -4.0% Mmmm Projected Rental Growth ==—=Key Growth Markets Average Gateway CitiesAverage United States Average Gy:tal Pacific Oak US REIT Source: CoStar Off
Slide 18: Committed to Deliver Long Term Stable Growth
Strategically-located assets in key growth markets with positive economic and office fundamentals Highly diversified portfolio with quality tenants from high growth and defensive sectors Low tenant concentration and strong tenant mix that supports Committed ot stable growth to Deliver Long Term Orga
Slide 19: Thank You
Thank You For more information, please visit Bellevue Technology Center Seattle, Washington
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