Keppel REIT · SGX:K71U
Keppel REIT — Shareholder Meeting (April 2022)
18 slides from Keppel REIT's shareholder meeting presentation, Apr 22, 2022
Slide 1: Annual General Meeting
Annual General Meeting 22 April 2022
Slide 2: Outline
Outline Constituent of: ▪ FY 2021 in Review 3 FTSE ST Large & Mid Cap Index ▪ 1Q 2022 Update 10 FTSE EPRA Nareit Global Developed Index IMPORTANT NOTICE: The past performance of Keppel REIT is not necessarily indicative of its future performance. Certain statements made in this presentation may not
Slide 3: FY 2021 in Review
FY 2021 in Review Artist’s Impression of Blue & William, Sydney 3
Slide 4: FY 2021 Performance
FY 2021 Performance Portfolio Optimisation & Sustainability Growth in Proactive Distribution Capital Management ▪ Healthy portfolio metrics with portfolio committed occupancy of 95.4% and long portfolio weighted 5.82 cents 38.4% average lease expiry (WALE) of 6.1 years DPU up 1.6% y-o-y Aggregate le
Slide 5: Diversified Pan-Asian Portfolio of Prime Commercial Assets
Diversified Pan-Asian Portfolio of Prime Commercial Assets $8.9b portfolio of quality and well-located assets across different markets enhance income stability and long-term growth opportunities T Tower, Seoul 8 Chifley Square, South Korea 99.4% Interest Pinnacle Office Park, Sydney Occupancy: 100%
Slide 6: Quality Portfolio with Diversified Tenant Base
Quality Portfolio with Diversified Tenant Base ▪ Well-leased to diversified tenant base, ▪ Healthy rental collection of 99.6% in FY 2021 including many established corporations ▪ As at end-2021, there were 384(1) tenants ▪ Ongoing asset enhancement initiatives at from various business sectors 8 Chif
Slide 7: Continuing Portfolio Optimisation
Continuing Portfolio Optimisation ▪ Acquired Keppel Bay Tower, a Grade A office building in the Keppel Bay waterfront precinct in HarbourFront on 18 May 2021 ▪ Unlocked value with the divestment of 275 George Street on 30 Jul 2021 ▪ Expanded into North Sydney on 14 Dec 2021 with the acquisition of B
Slide 8: Blue & William: DPU-Accretive Fund-through Development with Regular Coupon
Blue & William: DPU-Accretive Fund-through Development with Regular Coupon Blue & William will offer panoramic views ▪ DPU accretive investment with 4.5% initial NPI yield after of the Sydney Harbour Bridge and Sydney CBD practical completion ▪ Coupon of 4.5% per annum receivable(1) during fund-thro
Slide 9: Refreshed ESG Targets
Refreshed ESG Targets To further its efforts on the sustainability front, the Manager has set new targets for the management of material ESG aspects Environmental Stewardship Responsible Business People and Community ▪ Halve Scope 1 and 2 emissions by 2030 ▪ Uphold high standards of corporate ▪ Prov
Slide 10: 1Q 2022 Update
1Q 2022 Update View from Keppel Bay Tower, Singapore 10
Slide 11: 1Q 2022 Key Highlights
1Q 2022 Key Highlights Pan-Asian Portfolio with Income Resilience $53.8m 95.1% Anchored in key business districts of 1Q 2022 distributable income Portfolio committed occupancy Singapore, Australia and South Korea from operations(1) as at 31 Mar 2022 Up 4.3% y-o-y Singapore, 78.3% 38.7% 6.1 years Agg
Slide 12: Higher Distributable Income from Operations
Higher Distributable Income from Operations ▪ Distributable income of $53.8 million, a 4.3% year-on-year growth due mainly to the acquisition of Keppel Bay Tower in May 2021 ▪ The increase was partially offset by the impact of the divestment of 275 George Street in July 2021 Distributable Income 1Q
Slide 13: Prudent Capital Management
Prudent Capital Management As at 31 Mar 2022 Adjusted NAV per Unit(2) $1.29 ▪ All-in interest rate reduced year-on-year to 1.81% Interest Coverage Ratio(3) 3.8x p.a. from 2.01% p.a. All-in Interest Rate 1.81% p.a. ▪ Total borrowings on fixed rates increased from Aggregate Leverage 38.7% 63% to 71% d
Slide 14: Robust 1Q 2022 Portfolio Performance
Robust 1Q 2022 Portfolio Performance Leases Committed Leases Committed Total Leases Committed by Geography(1) by Type(1) ~475,000 sf Renewal, (Attributable ~222,500 sf) Singapore, 80.7% 99.0% Retention Rate 91% Australia, 1.0% New, 19.3% New leasing demand and expansions from: ▪ Rental collection re
Slide 15: Well-spread Lease Expiry Profile
Well-spread Lease Expiry Profile ▪ Average signing rent for Singapore office leases(1) concluded in 1Q 2022 was $11.15 psf pm ▪ Average expiring rents of Singapore office leases(2)(psf pm): $10.10 in 2022, $10.84 in 2023 and $10.72 in 2024 Lease Expiries and Rent Reviews(3) Expiring Leases Rent Revi
Slide 16: Committed to Delivering Stable Income & Sustainable Returns
Committed to Delivering Stable Income & Sustainable Returns Portfolio Optimisation • Portfolio optimisation to improve yield, anchored by prime CBD assets in Singapore Portfolio • Hold quality assets across different markets for improved income stability Optimisation and to provide more long-term gr
Slide 17: Thank You
Thank You For more information, please visit: www.keppelreit.com Connect with us on: Victoria Police Centre, Melbourne 17
Slide 18: Annual General Meeting
Annual General Meeting 22 April 2022