Kore Us REIT · SGX:CMOU
Kore Us REIT — Keppel Pacific Oak US REIT — Investor Presentation (June 2021)
23 slides from Kore Us REIT's investor presentation, Jun 22, 2021
Slide 1: Keppel Pacific Oak US REIT Presentation for Maybank Kim Eng
Keppel Pacific Oak US REIT Presentation for Maybank Kim Eng 22 June 2021 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 toa number of risks, uncertainties and
Slide 3: Overview
Overview Tenant lounge at The Westpark Portfolio Redmond, Seattle, Washington
Slide 4: About Keppel Pacific Oak US REIT (KORE)
\ = a Indoor courtyard, Great Hills Plaza,Austin, Texas About Keppel Pacific Oak US REIT (KORE) Distinctive US office REIT focused on key growth markets significantly driven by tech and innovation growth markets Benefitting from Unique exposure : . to key US solid US office Tax advantaged real estat
Slide 5: Successful Execution of Growth Strategy
Successful Execution of Growth Strategy 9 Nov Jan 2017 2019 Listed on SGX Portfolio value: US$0.83b IPO with 11 office buildings and business campuses across 7 key growth markets Maiden acquisition of The Westpark Portfolio in Redmond, Seattle, Washington Nov 2018 KG sta) Pacific Oak US REIT Acquire
Slide 6: Magnet Cities for Businesses and Individuals
Magnet Cities for Businesses and Individuals Popular in-migration destinations due to attractive lifestyle, culture and employment opportunities Y Low or no taxes in most markets v GDP, employment and population growth above national average v Highly-educated workforce Y Amenity-rich locations Y Goo
Slide 7: Portfolio by market: Driven by Innovation
ATLANTA, Georgia The Plaza Bellevue Technology The Westpark Powers Ferry Northridge e Buildings Center Portfolio Occupancy: 80.1% Center! &ll D r | V e n B y Occupancy: 93.1% | Occupancy: 96.1% Occupancy: 94.6% Occupancy: 77.9% Innovation ORLANDO, Florida Westmoor Center — 7 : Maitland Promenade co)
Slide 8: 1Q 2021 Key Business and Operational Updates
1Q 2021 Key Business and Operational Updates Tenant space at The Westpark Portfolio Redmond, Seattle, Washington
Slide 9: Financial Performance
Financial Performance Distributable Income for 1Q 2021 was US$14.9m, 3.6% above 1Q 2020, supported by: * New and expansion leases from the tech hubs of Seattle - Bellevue/Redmond and Denver Strong balance sheet with significant liquidity ¢ Low gearing of 37.5% with no long-term refinancing requireme
Slide 10: Robust financial position and healthy aggregate leverage
Robust financial position and healthy aggregate leverage Low aggregate leverage and 100% unsecured loans provide greater financial flexibility As at 31 March 2021 Debt Maturity Profile Total Debt USS505.7m of external loans * 100% unsecured . 100% of Loans Unsecured 28.6% 24.7% 22.8% Available Facil
Slide 11: Lease expiry profile (NLA, CRI)
30.9% 32.4% NLA 17.9% 17.0% 14.4% 15.7% 14.9% CRI 14.0%13.0% 12.5% 9.0% 8.3%
Slide 12: Tech Focused Tenant Composition and Industry Exposure
Tech Focused Tenant Composition and Industry Exposure KORE’s buildings and business campuses in (|: EE the tech hubs of Seattle - Bellevue/Redmond, Austin and Denver contribute ~62% of NPI) Geographic Diversification by NPI contribution as at 31 March 2021 Austin Seattle - 5.4% Bellevue/Redmond Denv
Slide 13: Low Tenant Concentration Risk
As at 31 March 2021 Low Tenant Top 10 Tenants Sector Asset % of CRI H Ball Aerospace Technolo: Westmoor Center Sul Concentration P 9 Lear Technology The Plaza Buildings 2.8 R i S kK Oculus VR Technology The Westpark Portfolio 2.4 Zimmer Biomet Spine Technology Westmoor Center 2.0 Top 10 tenants Spec
Slide 14: Market Outlook
Market Outlook Westmoor Center Denver, Colorado
Slide 15: US Economy: Recovery Apace
US Economy: Recovery Apace Continued resumption of economic activity in 2021 ¢ US Real GDP increased 6.4% q-o-q in % GDP Growth 1Q 2021 reflecting the continued 40 economic recovery, reopening of establishments, and continued 30 government response related to the COVID-19 pandemic", 20 ¢ Unemploymen
Slide 16: KORE Has Assets In Some Of The Fastest Growing States In The US
KORE Has Assets In Some Of The Fastest Growing States In The US KORE is well poised to benefit from ‘The Great American Move’ into Sunbelt states and 18-Hour cities Demographic tren: ler: VID-19(0): 5 Fastest Growing States from 2010-2020(5) * Move to Sun Belt states and 18-Hour cities * Suburban mi
Slide 17: CEOs And Employees Want To Return To Offices
CEOs And Employees Want To Return To Offices * Progress in vaccinations and the removal of COVID-19 restrictions are raising confidence and optimism. * 70% of CEOs, human resources and finance leaders said they plan to have employees back in the office by the fall of 2021", KC Pacific Oak US REIT (,
Slide 18: Companies Accelerating Their Return-to-Office Plans
Companies Accelerating Their Return-to-Office Plans fn Financial News JPMorgan asks City staff to start trek back to the office from 21 June Allemployees will be expected to come back, a memo to staff says The New ork Cimes Goldman Sachs Asks Most Employees to Return to Office by Late June Most empl
Slide 19: Positioned to Deliver Long-Term Value
Exposure to growth and defensive sectors of technology, as well as medical and healthcare. Highly diversified portfolio with low tenant concentration risk. Committed 100% unsecured debt, low aggregate leverage of 37.5% with no long-term . refinancing requirements until November 2022. to Deliver Long
Slide 20: Additional Information
Additional Information Westech 360 Austin, Texas
Slide 21: Trust Structure
Trust Structure v Tax-efficient structure for holding US properties * No US corporate tax (21%) and US withholding tax (30%) * No Singapore corporate tax (17%) and Singapore withholding tax (10%) * Subject to limited tax v Leverage Sponsors' expertise and resources to optimise returns for Unitholder
Slide 22: Strong Sponsors: Keppel Capital and KORE Pacific Advisors
Strong Sponsors: Keppel Capital and KORE Pacific Advisors Fy] Capital AR vce oni * Asset management arm of Keppel Corporation * Established commercial real estate investment and a premier manager in Asia manager in the US * US$28 billion” * US$4.0 billion Global assets under management as at end-202
Slide 23: Thank You
Thank Y u OUR SUSTAINABILITY COMMITMENT We place sustainability at the heart of our strategy and are committed to For more information, delivering sustainable distributions and strong total returns for Unitholders. please visit www.koreusreit.com Connect with us on: in| RESPONSIBLE BUSINESS The long
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