Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — Shareholder Meeting (June 2015)
33 slides from Emirates Reit (ceic)'s shareholder meeting presentation, Jun 21, 2015
Slide 1: Emirates REIT Annual General Meeting
Emirates REIT Annual General Meeting 21 June 2015
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Emirates REIT Management (Private) Limited as the Manager of Emirates REIT (CEIC) Limited. Whilst every care has been taken in relation to the accuracy, no warranty is given or implied. The information provided is not investment advice and recipients
Slide 3: Agenda
Agenda Emirates REIT Overview Portfolio Summary Performance Notable Events Resolutions Key Objectives for 2015 3
Slide 4: Emirates REIT Shareholding Structure
Emirates REIT Shareholding Structure Free Float on Other Founding Investors 54.12% 15.66% 11.68% 9.91% 8.63% E IFFEL MANAGEMEN T 100% Onshore Dubai Branch of Emirates REIT (CEIC) Limited Building24 The Loft O ffices Office Park Indigo7 Index Tower Le Grande GrandeCommunity Community Mall Mall GWAD 4
Slide 5: Governance Framework
Governance Framework Regulated by the DFSA Robust Corporate Governance systems in place since inception Adequate oversight measure through multiple boards to ensure transparency Investment Board Oversight Board Advisory Board Review prospective investment opportunities Supervise the activities of th
Slide 6: Portfolio Summary
Portfolio Summary Assets Market Value Net Leasable Area Occupancy Number of Tenants WALE * AED 2.1bn 1.645 mn sqft Including Index 65.9% * Weighted Average Lease Expiry 7 USD 580 mn 152,825 m2 Excluding Index 93.1% 205 8.3 6
Slide 7: NAV per Share growth and Balance Sheet Snapshot
NAV per Share growth Balance Sheet Snapshot – in USD million Net Asset Value 1.4350 USD/share Portfolio size AED 2,132m / USD 580.50 m The chart below shows the history of the monthly Net Asset Value per share since the transfer of the first property to the REIT, as well as the size of the portfolio
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Slide 13: Performance – REIT Share
Performance — REIT Share 2011 2012 2013 2014 +10.46 % +10.94 % 425.00 % +10.33 % $550m $500m, : $450m $400m “F $350m $300m r $250m Portfolio Value $200m $150 $100m _$0.0400_ "2012 "2013 "2014 "2015 “; $50, 1 $om as of 31 May 2015 Lo Emirates Reit 7
Slide 14: Dividend Yields
6.45% Emirates Reit Dividend Yields Source : FTSE EPRA/NAREIT 14
Slide 15: Notable Events
Notable Events Changes in the REIT Manager Structure Changes in Custody Arrangements Changes in the Borrowing Limits 15
Slide 16: Changes in REIT Manager Structure
Changes in REIT Manager Structure 1 March 2015 Eiffel Management Limited acquired Dubai Islamic Bank’s (‘DIB’) 25% stake in Emirates REIT Management (Private) Limited (the “REIT Manager”), the manager of Emirates REIT (CEIC) Limited (‘the ‘REIT’). Eiffel Management Limited now owns 100% of the REIT
Slide 17: Changes in Custody Arrangements
Changes in Custody Arrangements 3 May 2015 The DFSA granted a Waiver to Emirates REIT, removing the requirement of appointing an Eligible Custodian for the safe-keeping of the title deeds of the Real Properties of the REIT. This removes future significant costs from the REIT as the REIT Manager may
Slide 18: Changes in Borrowing Limits
Changes in Borrowing Limits 3 May 2015 The DFSA granted Modification Request which increases the borrowing limit to 50% of the Gross Asset Value. Loan To Value (LTV) of the REIT is now 28.4% Allows the REIT to potentially more than double it's current borrowings and provides additional potential bor
Slide 19: Resolutions
Resolutions Ordinary Resolution 1 Final Dividend Ordinary Resolution 2 Annual Report and Accounts Ordinary Resolution 3 PwC as Auditors Ordinary Resolution 4 – Related Parties authorisation Transactions with Affected Persons Ordinary Resolution 5 – Related Parties authorisation Affected Persons as S
Slide 20: Key Objectives for 2015
Key Objectives for 2015 Developing Index Tower (flagship asset) Dedicated Leasing Team Launch of the Marketing Suite Enhance rental levels and opportunities for expansion within existing assets New acquisition opportunities 20
Slide 21: Thank You
THANK YOU For further information, please refer to our website. www.reit.ae
Slide 22: Impact of interest rates on historical performances
Impact of interest rates on historical performances Strong underlying assets, possible inflation, and increases in growth of key operating metrics drive increases in REIT prices Source : Algetris, FTSE EPRA/NAREIT, Bloomberg 22
Slide 23: Proxy Status
Proxy Status Ordinary Resolution 1 To approve the declaration of a final dividend of USD 0.04 per ordinary share for the financial year ended 31 December 2014. Proxy Status Shares voted Vote Cast For 135,970,623 100 % Against 0 0% Abstain 0 0% Total Lodged 135,970,623 100 % 23
Slide 24: Proxy Status
Proxy Status Ordinary Resolution 2 To receive and approve the annual report and the accounts of the REIT for the year ended 31 December 2014 together with the director's report and auditor's report on those accounts. Proxy Status Shares voted Vote Cast For 135,970,623 100 % Against 0 0% Abstain 0 0%
Slide 25: Proxy Status
Proxy Status Ordinary Resolution 3 To re-appoint PricewaterhouseCoopers (Dubai Branch) (“PwC”) as auditors of the REIT to hold office until the conclusion of the next annual general meeting at which accounts are laid before the shareholders. Proxy Status Shares voted Vote Cast For 135,970,623 100 %
Slide 26: Proxy Status
Proxy Status Ordinary Resolution 4 To authorise the REIT and the REIT Manager on behalf of the REIT to enter into transactions with Affected Persons (as defined in the CIR) in accordance with the modified version of Rule 8.3.2 of the Proxy Status CIR set out in the DFSA Modification Notice issued on
Slide 27: Proxy Status
Proxy Status Ordinary Resolution 5 To authorise the REIT and REIT Manager on behalf of the REIT to enter into transactions with Affected Persons (as defined in the CIR) in accordance with the modified version of Rule 13.4.16 of the CIR set out in the Modification Notice. Proxy Status Shares voted Vo
Slide 28: Proxy Status
Proxy Status Ordinary Resolution 6 To authorise the REIT and REIT Manager on behalf of the REIT to enter into transactions with Affected Persons (as defined in the CIR) in accordance with the modified version of Rule 13.4.17 of the CIR set out in the Modification Notice. Proxy Status Shares voted Vo
Slide 29: Foreign Ownership
Foreign Ownership “October "December "2015 : February "arch "ppl ' May dune dune July ‘August q ‘September "November $1.50 + $145 $1.40 $1.35 + $1.30 fei2s $1.20 as of 16 Jun 2015 rt a= Emirates Reit 29
Slide 30: Portfolio
Portfolio Office Park Acquisition Date 19 June 2012 Ownership Title Freehold Key Tenants Income per Unit Type Shares of Total Portfolio 22.5% 22.5% 42.4% Net Leasable Area Valuation Income 30
Slide 31: Portfolio
Portfolio GEMS World Academy Dubai The Loft Offices Acquisition Date 10 October 2013 Ownership Title Leasehold Acquisition Date 8 December 2011 Ownership Title Freehold Income per Unit Type Income per Unit Type Education 100% Shares of Total Portfolio Shares of Total Portfolio 14.9% 27.9% 22.9% 11.6
Slide 32: Portfolio
Portfolio Building 24 Le Grande Community Mall Acquisition Date 27 June 2011 Ownership Title Freehold Acquisition Date 18 May 2014 Ownership Title Freehold Income Income Shares of Total Portfolio Shares of Total Portfolio 14.9% 27.9% 5.5% 5.7% Net Net Valuation Leasable Income Valuation Leasable Inc
Slide 33: Portfolio
Portfolio Indigo 7 Acquisition Date 25 September 2011 Ownership Title Contractual interest similar to tenancy rights Income Index Tower Acquisition Date May & Dec. 2013, Jun. & Dec. 2014 Ownership Title Freehold Owning 2/3 Office floors, All Retail, Shares of Total Portfolio 1426 car parks 1.4% 1.2%
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