Slide 1: Emirates REIT Results Presentation H1 2017
EMIRATES REIT RESULTS PRESENTATION H1 2017
Slide 2: Speakers
SPEAKERS Sylvain Vieujot Remi Ishak CEO Group CFO 2
Slide 3: Key Messages
KEY MESSAGES § 31% y-o-y increase in net rental income § Strong rental income conversion to FFO § 67% y-o-y growth in Funds From Operations § Current annualized rent passed AED 200 million mark § British Columbia Canadian School delivered § Leasing under way at Index Mall § Signed acquisition of Eur
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 5: Annualized Rent per Property
ANNUALIZED RENT PER PROPERTY British Columbia Canadian School 5
Slide 6: Strong Property Income Growth
STRONG PROPERTY INCOME GROWTH Property Income (USD m) 20% 28.3 23.6 2.8 14.4 14.4 13.9 12.7 1.4 1.5 2.7 11.7 11.9 1.3 1.3 1.3 1.3 25.4 20.9 13.0 12.6 12.9 10.4 10.6 11.4 1H 2016 1H 2017 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Rental income Service fee & other income Rental income Service fee
Slide 7: Strong Rental Income Conversion to FFO
STRONG RENTAL INCOME CONVERSION TO FFO FFO movement (USD m) 67% 20% +0.4 2% 38% -6% -0.2 -1.6 8.3 +4.7 5.0 1H 2016 Property income Property operating Fund expenses Finance cost, net 1H 2017 expenses 7
Slide 8: Strong FFO Growth
STRONG FFO GROWTH FFO (USD m) 67% 8.32 4.17 4.15 3.57 4.98 2.79 2.79 2.19 1H 2016 1H 2017 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 8
Slide 9: Balance Sheet Overview
BALANCE SHEET OVERVIEW USD 815.4 USD 815.4 17.6* 27.5*** In USD mn 30-Jun-17 31-Dec-16 Change 25.7** INVESTMENT PROPERTY 772.1 752.7 +2.6% 300.2 TOTAL ASSETS 815.4 832.5 -2.0% Debt EQUITY 487.8 493.4 -1.1% LIABILITIES 327.7 339.0 -3.4% 772.1 Investment ISLAMIC FINANCING 300.2 315.0 -4.7% Property 48
Slide 10: Summary
SUMMARY USD 772m 1.97m sqft Portfolio Value Net Leasable Area USD 487.8m 83% Net Asset Value Occupancy Portfolio Value USD 1.63 per share 8.2 years Net Asset Value WAULT Weight average unexpired lease term 9 Properties* 256 tenants 5 Office-retail Mix 1 Retail 3 Education complexes NAV per share is
Slide 11: Operational Update
OPERATIONAL UPDATE
Slide 12: Operational Developments
OPERATIONAL DEVELOPMENTS Office Park BRITISH COLUMBIA CANADIAN SCHOOL INDEX TOWER INDEX MALL OFFICE PARK Phase 1 delivered on budget Initiated fit-out Owner fit-out and Full occupancy Opening pending authority of additional leasing under way Tenant rotation inspections serviced offices (Grade A) 12
Slide 13: British Columbia Canadian School
BRITISH COLUMBIA CANADIAN SCHOOL 13
Slide 14: Index Mall
INDEX MALL 14
Slide 15: Gate Avenue Announced for H1 2018
GATE AVENUE ANNOUNCED FOR H1 2018 15
Slide 16: Portfolio Overview
PORTFOLIO OVERVIEW Total Occupancy WAULT Lease Expiries 77% 4% 6% 5% 5% 5% 16
Slide 17: European Business Centre
EUROPEAN BUSINESS CENTRE 17
Slide 18: Proforma Impact of EBC on Annualized Rent
Proforma Impact of EBC on Annualized Rent +AED 20 million 18
Slide 19: Questions & Answers
— QUESTIONS & ANSWERS