Lendlease Global Commercial Reit · SGX:JYEU
Lendlease Global Commercial Reit — H1 FY2026 Earnings Presentation
31 slides from Lendlease Global Commercial Reit's earnings presentation, Feb 13, 2026
Slide 1: 1H FY2026 Financial Results
Jem Retail, Singapore 313@somerset, Singapore PLQ Mall, Singapore 1H FY2026 Financial Results 13 February 2026 Multifunctional Event Space Adjacent to 313@somerset (Artist’s impression subject to design changes) Parkway Parade, Singapore Three Grade A Commercial Buildings, Milan
Slide 2: Important Notice
Important Notice This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these risks,
Slide 3: Key Highlights
Key Highlights ’- lendlease
Slide 4: 1H FY2026 Highlights
1H FY2026 Financial Results Lendlease Global Commercial REIT 4 1H FY2026 Highlights Sustainable Income Growth: Delivering Higher Distribution Per Unit (“DPU”) and Positive Rental Reversion • DPU for 1H FY2026 up 3.1% YoY to 1.85 cents. • Positive retail rental reversion of 10.4%(1) achieved in 1H FY
Slide 5: Portfolio Optimisation: Singapore-focused Strategy
1H FY2026 Financial Results Lendlease Global Commercial REIT 5 Portfolio Optimisation: Singapore-focused Strategy • Strategic divestment of the Jem office and acquisition of a 70% interest in PLQ Mall strengthened Lendlease REIT’s Singapore exposure, with approximately 90% of portfolio value in Sing
Slide 6: Key Portfolio Metrics
1H FY2026 Financial Results Lendlease Global Commercial REIT 6 Key Portfolio Metrics Portfolio Committed Tenant Sales Retail Rental Occupancy +7.2%(2) Reversion 94.9%(1) (+1.1% excluding PLQ Mall) +10.4%(3) Weighted Average Lease Tenant Office Rental Expiry Retention Uplift 4.8 years 64.5%(4) +1.7%(
Slide 7: Key Financial Metrics
1H FY2026 Financial Results Lendlease Global Commercial REIT 7 Key Financial Metrics • With the divestment of Jem office, gross revenue and net property income are reduced accordingly as compared to 1H FY2025. On a like-for-like basis, excluding Jem office, gross revenue and net property income ("NP
Slide 8: 1H FY2026 DPU Up 3.1% YoY to 1.85 cents
1H FY2026 Financial Results Lendlease Global Commercial REIT 8 1H FY2026 DPU Up 3.1% YoY to 1.85 cents • DPU of 1.85 cents was driven by resilient performance of the Singapore malls, a favourable interest rate environment and the refinancing of perpetual securities in April 2025 at lower costs of fu
Slide 9: Balance Sheet and Capital Management
Balance Sheet and Capital Management
Slide 10: Balance Sheet
1H FY2026 Financial Results Lendlease Global Commercial REIT 10 Balance Sheet • Total assets are lower as at 31 December 2025 mainly due to the divestment of Jem office(1). The decrease was partially offset by the acquisition of a 70% interest in PLQ Mall(2), accounted as investment in joint venture
Slide 11: Capital Management
1H FY2026 Financial Results Lendlease Global Commercial REIT 11 Capital Management • Weighted average cost of debt has lowered to 2.90% p.a. on the back of the lower interest rate environment. • Gearing is materially reduced with the repayment of borrowings. Incorporating a proportionate share of lo
Slide 12: Debt Facilities and Maturity Profile
1H FY2026 Financial Results Lendlease Global Commercial REIT 12 Debt Facilities and Maturity Profile • As at 31 December 2025, available debt facilities aggregate S$701.2 million. There is sufficient debt capacity to fulfill the FY2026 refinancing. • No refinancing risk in FY2026. Maturity Profile o
Slide 13: Portfolio Performance
Portfolio Performance ’- lendlease
Slide 14: Healthy Leasing Momentum Across Portfolio
1H FY2026 Financial Results Lendlease Global Commercial REIT 14 Healthy Leasing Momentum Across Portfolio • Lease expiry profile remained well-spread with 7.5% by NLA and 8.3% by GRI due for renewal in FY2026. • Portfolio tenant retention rate was 64.5% mainly due to the exit of Cathay Cineplexes, w
Slide 15: Portfolio Occupancy Remains Healthy in 2Q FY2026
1H FY2026 Financial Results Lendlease Global Commercial REIT 15 Portfolio Occupancy Remains Healthy in 2Q FY2026 • Retail occupancy remained resilient, maintaining levels close to 100%. • Milan office occupancy continued to strengthen, rising to 89.1% from 88.5% last quarter, supported by active lea
Slide 16: Achieved Positive Retail Rental Reversion of 10.4%
1H FY2026 Financial Results Lendlease Global Commercial REIT 16 Achieved Positive Retail Rental Reversion of 10.4%(1) • Year-to-date visitation and tenant sales grew 9.6% and 7.2% YoY respectively, including one month of contribution from PLQ Mall. On a like-for-like basis excluding PLQ Mall, visita
Slide 17: Driving Footfall with New Retail Offerings and Marketing Campaigns
1H FY2026 Financial Results Lendlease Global Commercial REIT 17 Driving Footfall with New Retail Offerings and Marketing Campaigns New Tenants Onboard Chen’s at PLQ Mall, Gyo Gyo at Jem features XIAO NOODLES at awarded MICHELIN Bib an extensive range of 313@somerset, its first store Gourmand, known
Slide 18: Sustainability
Sustainability ’- lendlease
Slide 19: Engaging Our Stakeholders
1H FY2026 Financial Results Lendlease Global Commercial REIT 19 Engaging Our Stakeholders • We remain dedicated to create value by supporting initiatives from industry organisation, including Orchard Road Business Association, and fostering partnerships that generate shared benefits. Sustainability
Slide 20: Key Priorities
Key Priorities ’- lendlease
Slide 21: Key Priorities
1H FY2026 Financial Results Lendlease Global Commercial REIT 21 Key Priorities Sustainable Income Active Capital Portfolio Execute on Our Growth Management Optimisation Strategy • Grow retail rents • Keep gearing within • Pursue opportunities • Continue to look at sustainably through prudent levels
Slide 22: Market Review
Market Review ’- lendlease
Slide 23: Market Review
1H FY2026 Financial Results Lendlease Global Commercial REIT 23 Market Review • Retail sales excluding motor vehicles rose 5.8% YoY in November to an estimated S$3.9 billion, with online sales making up 19.3% amid year-end events such as Singles’ Day and Black Friday. Tourism also continued to recov
Slide 24: Additional Information
Additional Information ’- lendlease
Slide 25: Portfolio composite by valuation
1H FY2026 Financial Results Lendlease Global Commercial REIT 25 Portfolio composite by valuation • Singapore accounts for approximately 90% of the portfolio (by valuation). S$1.8 billion S$3.9 billion S$0.71 Market Capitalisation Portfolio Value Net Asset Value Per Unit 94.9% 6.0%(1) 29.7% Portfolio
Slide 26: Our Competitive Advantage
1H FY2026 Financial Results Lendlease Global Commercial REIT 26 Our Competitive Advantage Singapore Focus Asset Quality & Long Leasehold 90%(1) of existing Precinct Dominance Tenure portfolio is in Singapore Best assets that anchor High balance tenure precincts of ~83 years(2) Operating Sponsor Supp
Slide 27: Strong Alignment of Interest with Sponsor in Lendlease
1H FY2026 Financial Results Lendlease Global Commercial REIT 27 Strong Alignment of Interest with Sponsor in Lendlease • Lendlease Corporation’s stake in Lendlease REIT reinforces its commitment to the REIT’s long-term success. • Lendlease REIT continues to be a key component of the Group’s investme
Slide 28: Portfolio Key Statistics
1H FY2026 Financial Results Lendlease Global Commercial REIT 28 Portfolio Key Statistics 3 Grade A Commercial Jem (Retail) 313@somerset (Retail) PLQ Mall (Retail) Buildings (Office) Key Statistics (as at 31 December 2025) Occupancy 99.9% 98.8% 99.4% 89.1%(1) WALE 2.4 years (by NLA) 2.2 years (by NLA
Slide 29: Other Investments
1H FY2026 Financial Results Lendlease Global Commercial REIT 29 Other Investments 10.0% interest in Development of a multifunctional event Parkway Parade Partnership Pte. Ltd. space at Somerset • The investment increased Lendlease REIT’s exposure to • Construction has commenced and is endeavoured to
Slide 30: Commitment Towards Sustainability
1H FY2026 Financial Results Lendlease Global Commercial REIT 30 Commitment Towards Sustainability Lendlease REIT aligns its business practices with the United Nation’s Sustainable Development Goals, integrating sustainability into its investment and management approach. • Environmental Goals: Enhanc
Slide 31: Thank You
Thank You For enquiries, please contact Ling Bee Lin, Investor Relations and ESG Tel: (65) 6671 7374 / Email: enquiry@lendleaseglobalcommercialreit.com
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