Mreit, Inc. · PSE:MREIT
Mreit — FY2025 Earnings Presentation
15 slides from Mreit's earnings presentation, March 2026
Slide 1: Full Year 2025 Analysts' Briefing
FULL YEAR 2025 ANALYSTS’ BRIEFING
Slide 2: Market Office Demand Update
MARKET OFFICE DEMAND UPDATE 854,800 sqm #1 MARKET SHARE • CBRE reported that the overall office demand in the Philippines 21% reached 854,800 sqm in FY2025, (MEG) up from 791,900 sqm in FY2024. 39% (Boutique) • The vacancy rate in Metro Manila increased to 20.3% in FY2025 from 854,800 19.9% in FY202
Slide 3: Operating Highlights
OPERATING TENANT MIX HIGHLIGHTS KNOWLEDGE/HYBRID 40% VOICE 26% GCCs 12% TRADITIONAL RETAIL HOTEL 17% 3% 2% 7% 7% 7% OCCUPANCY RATE TENANT 4% 92% BREAKDOWN WALE 4% (by GLA) 60% 3% 2% (WEIGHTED AVERAGE LEASE EXPIRY) 2% 2% 2% 2.85 YEARS TOP 10 TENANTS TOTAL TRANSACTIONS (40%) 84,000 SQM 2
Slide 4: Financial Performance
FINANCIAL PERFORMANCE In PHP millions FY2025 FY2024 YoY% 4Q2025 4Q2024 YoY% Revenues 5,580 4,514 24% 1,451 1,403 3% Direct Operating Costs (1,169) (978) 19% (338) (284) 19% RENTAL INCOME VS Gen. & Admin. Expense (153) (93) 65% (116) (53) 120% DISTRIBUTABLE INCOME Net Operating Income 4,259 3,443 24%
Slide 5: Dividend Declaration
DIVIDEND DIVIDEND DECLARATION PER SHARE Dividend Yield DIVIDEND PER SHARE 7.1% based on PHP 0.250478 04 MARCH 2026 closing price PAYMENT DATE 0.2505 0.25047 0.25048 0.25048 0.25048 0.2476 0.2476 0.2474 0.2489 0.2468 0.2444 0.2428 26 MARCH 2026 0.2400 0.2399 0.2430 0.2460 0.2460 0.2460 3Q21 4Q21 1Q22
Slide 6: Details on Wave 4 Infusion
DETAILS ON WAVE 4 INFUSION NINE (9) GRADE A BUILDINGS SCIENCE HUB TOWER 1 SCIENCE HUB TOWER 4 ONE CAMPUS PLACE BLDG B 21,600 sqm 20,700 sqm 11,300 sqm SCIENCE HUB TOWER 3 8 CAMPUS PLACE A 8 CAMPUS PLACE B 20,500 sqm 9,900 sqm 9,300 sqm SOUTHEAST ASIAN CAMPUS 8 CAMPUS PLACE C ONE CAMPUS PLACE BLDG A
Slide 7: Details on Wave 4 Infusion
DETAILS ON WAVE 4 INFUSION WAVE 04 POST-INFUSION TENANT MIX TENANT MIX GCCs HYBRID/ KNOWLEDGE VOICE GCCs HYBRID/ KNOWLEDGE VOICE 83% 10% 3% 29% 34% 20% TRADITIONAL RETAIL HOTEL TRADITIONAL RETAIL HOTEL 4% 0.3% 0% 14% 2% 1% OCCUPANCY RATE OCCUPANCY RATE 97% 93% WALE WALE 2.78 2.83 6
Slide 8: Property-for-Share Swap
PROPERTY-FOR-SHARE SWAP Transaction Value P 16,217,100,000 No. of Shares to be Swapped 996,865,672 15% Premium over 30-day VWAP P 16.27 Outstanding Shares – Post-Swap 4,718,849,053 Free Float % - Post-Swap 35.5% Indicative estimates only and still subject to regulatory approvals. • Establishes a hig
Slide 9: Diversified Portfolio, Sustained Expansion
DIVERSIFIED SUSTAINED EXPANSION PORTFOLIO POST-ACQUISITION VALUE 647k *upon approval of asset infusion ASSET UNDER MANAGEMENT 482k PHP 92 BILLION 34% INCREASE SINCE IPO 325k 281k 88% 224k 48% 16% 25% 1Q22 Wave 1 Wave 2 Wave 3 Wave 4 Upon approval of the infusion of assets located in McKinley Hill, M
Slide 10: Portfolio Overview
PORTFOLIO OVERVIEW POST-ACQUISITION Buildings Buildings Buildings 10 Buildings Buildings 3 Offices 15 Offices 5 Offices 9 Offices, 1 Hotel 1 Office GLA (sqm) GLA (sqm) GLA (sqm) GLA (sqm) GLA (sqm) 89,200 302,800 114,000 114,700 26,000 PRE-ACQUISITION: 482,000 POST-ACQUISITION: 647,000 9
Slide 11: Our Target: One Million sqm GLA
OUR TARGET 750k ONE 482k 647k SQM GLA MILLION 224k SQM GLA SQM GLA SQM GLA SQM GLA IPO 2024 1H26 2H26 2027 with several mall assets By the 1H2026, MREIT is targeting 647,000 sqm of GLA, and 750,000 sqm by the 2H2026, as the company accelerates its milestone by three years — now on track to reach 1,0
Slide 12: Large Pipeline for Growth
LARGE PIPELINE FOR GROWTH OFFICE GLA RETAIL GLA HOTEL (‘000 sqm) (‘000 sqm) (room keys) 89 157 914 3,672 490 166 449 26.6 149 MEG & Affiliates MREIT Portfolio MEG Pipeline Portfolio Wave 4 Assets 11
Slide 13: MREIT Leadership Team
MREIT LEADERSHIP TEAM EXECUTING THE GROWTH STRATEGY FRANCIS ROXAS MABEL TACORDA ARNIE BATAC ROLAND TIONGSON ERIC JOHN ENRIQUEZ Head Chief Financial Officer, Compliance Officer and Data Privacy Officer President & CEO President President Megaworld Global Offices MREIT MREIT Fund Managers Inc. MREIT P
Slide 14: Our Takeaway
OUR TAKEAWAY • Full year distributable income rose 18% year-on-year to P3.7 billion, while revenues climbed 24% to P5.6 billion, reflecting the sustained momentum from the Wave 3 acquisition. • WALE is strong at 2.85 years, underscoring better lease visibility and income stability. • Occupancy rate
Slide 15: Full Year 2025 Analysts' Briefing
FULL YEAR 2025 ANALYSTS’ BRIEFING