Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Frasers Hospitality Trust — 1H FY2024 Earnings Presentation
27 slides from Singapore Exchange's earnings presentation, May 9, 2024
Slide 1: Financial Results for 1H FY2024
FRASERS HOSPITALITY TRUST Financial Results for 1H FY2024 9 May 2024 InterContinental Singapore
Slide 2: Important Notice
Important Notice Certain statements in this presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual res
Slide 3: > ERASERS
> ERASERS HOSPITALITY TRUST ibis Styles London Gloucester Road
Slide 4: Air travel continues its recovery trajectory
Air travel continues its recovery trajectory Domestic Passenger Demand, % of 2019 level International Passenger Demand, % of 2019 level m2021 m 2022 m2023 mJan-24 2021 2022 m2023 mJan-24 117% 99% 105% 106% 107% 93% save 96% 03% 98% 96% 84% 86% 75% 73% 80% 72% 62% 65% 58% 33% 32% 25% 1 = [| | Europe
Slide 5: Sustained recovery observed in FHT's markets
Sustained recovery observed in FHT’s markets Singapore 4 79% —ADR —Occupancy ——RevPAR Sydney (Upscale & upper-midscale segment) 81% 84% 009. 253 Hospitality market performance by city Melbourne (Upscale & upper-midscale) 80% 77% 231 231 Singapore’s hospitality market occupancy improved slightly in 2
Slide 6: Sustained recovery observed in FHT's markets
Sustained recovery observed in FHT’s markets Hospitality market performance by city —ADR —Occupancy ——RevPAR London Kobe (Upscale & upper-midscale) Kuala Lumpur (Luxury & upper-upscale) London’s market performance remained Kobe’s market performance continued its Kuala Lumpur's market continued its p
Slide 7: = ERASERS
= ERASERS HOSPITALITY TRUST Fraser Suites Sydney
Slide 8: Decline in 1H FY2024 Financial Performance
Decline in 1H FY2024 Financial Performance SGD million 1H FY2024 1H FY2023 Yov Change Gross revenue (GR) 63.3 62.2 a 1.7% Net property income (NPI) 44.7 45.2 V1.3% Income available for distribution (Dl) 23.4 27.1 v 13.7% Distribution to Stapled Securityholders 21.01 24.41 v 13.7% Distribution per St
Slide 9: Portfolio contribution for 1H FY2024
Portfolio contribution for 1H FY2024 Germany Germany iT / Malaysia o% Singapore 12% 7% 22% ; ° Malaysia 9% Japan 8% G R Japan 8% S$63.3m UK 14% Singapore 27% UK 14% Australia 40% Australia 30%
Slide 10: 1H FY2024 Distribution details Oct 2023 - Mar 2024
1H FY2024 Distribution details 1 Oct 2023 - 31 Mar 2024 Distribution rate Last day of trading on “cum” basis First day of trading on “ex” basis Record date Distribution payment date 1.0910 cents per Stapled Security 15 May 2024 16 May 2024 17 May 2024 28 Jun 2024
Slide 11: Go ee
Be Go ee TRUST Portfolio Performance Novotel Sydney Darling Square
Slide 12: Mixed performance across hospitality portfolio in 1H FY2024
Mixed performance across hospitality portfolio in 1H FY2024 Gross Operating Revenue (GOR) Gross Operating Profit (GOP) Country Local YoY Local YoY currency (million) change currency (million) change Singapore 48.3 V44% 17.3 Vv 20.6% Australia 42.6 A8.4% 20.4 5.3% UK 127 V3.5% 51 V7.6% Japan? 2,266.4
Slide 13: Singapore
Singapore InterContinental Singapore (ICSG) | Fraser Suites Singapore (FSSG) 68.9% ADR (SGD) Occ (%) REVPAR (SGD) PPP PP PP PP Pt SC KKM ST SS SM SS 1H FY2023 m1H FY2024 — ADR —Occupancy ——RevPAR 1H FY2024 76.3% Moderate growth in the short-stay segment while extended stay market remains challenged
Slide 14: Australia
Australia Novotel Melbourne on Collins (NMOC) Novotel Sydney Darling Square (NSDS) Fraser Suites Sydney (FSS) 276 277 ADR (AUD) OCC (%) REVPAR (AUD) 5 m1HFY2023 © m 1H FY2024 FF gos goo yo coo og go Sor sys coo yes — ADR —Occupancy ——RevPAR 1H FY2024 Continued growth supported by occupancy > Overall
Slide 15: United Kingdom (UK)
United Kingdom (UK) ibis Styles London Gloucester Road (ISLG) Park International London (PIL) Fraser Place Canary Wharf (FPCW) Fraser Suites Edinburgh (FSE) Fraser Suites Glasgow (FSG) Fraser Suites Queens Gate (FSQG) 1H FY2024 181 o 5% 0 6% 99 ADR (GBP) i LU REVPAR (GBP) PP PP PP PPh WF MoM WW KS o
Slide 16: Japan
Japan ANA Crowne Plaza Kobe (CPK) 1H FY2024 13872 14.520 63.8% 57.9% 9,268 8,037 I Y PP PP PP RP PP PP eK er ADR (JPY) OCC (%) REVPAR (JPY) s eo yw e i oo Ss ef ¥ & ee m1H FY2023 mH FY2024 — ADR —Occupancy ——RevPAR Positive improvements in all operating metrics > CPK’s RevPAR improved 15.3% YoY, sup
Slide 17: Malaysia
Malaysia The Westin Kuala Lumpur (TWKL) arm 883% : > P PP PP PD DP PP PP P me Doh [ ; [ L [ PF OK (0, ADR (MYR) OCC (%) REVPAR (MYR) —ADR — Occupancy —RevPAR MAHFY2023 1H FY2024 Strong YoY rebound in all operating metrics > TWKU’s RevPAR grew 20.9% YoY in 1H FY2024, supported by strong occupancy and
Slide 18: Germany
Germany Maritim Hotel Dresden (MHD) Dresden, Germany > MHD’s performance showed further YoY improvement in 1H FY2024, underpinned by stronger ADR growth and supported by a recovery in domestic travel following lifted travel restrictions
Slide 19: Proactive capital management
Proactive capital management As at 31 Mar 2024 Investment properties Property, plant and equipment Total assets Total borrowings (net of transaction costs) Aggregate leverage ratio? Net asset value per stapled security Weighted average years to loan maturity Unsecured debt Effective cost of borrowin
Slide 20: Go ee
A Go ee TRUST
Slide 21: Macro uncertainty could dampen travel outlook
Macro uncertainty could dampen travel outlook Global travel Global demand GDP growth > World Tourism Organisation expects international tourism to fully recover to pre-COVID levels in 2024 but this remains highly dependent on Asia’s recovery pace and the evolution of existing economic and geopolitic
Slide 22: Proactive Portfolio Reconstitution & Asset Management Strategy
Proactive Portfolio Reconstitution & Asset Management Strategy 2 Te Create growth via yield-accretive acquisitions qi =) Ls Unlock value via opportunistic divestments Enhance returns via proactive asset enhancement
Slide 23: Our Commitment to ESG
Our Commitment to ESG Commitment to high ESG standards Ss Target to achieve Targets in alignment with Net Zero Carbon Frasers Property's status by 2050 ESG Roadmap External recogn "Ps. s *\GRESB Mine t EAE esta Score: 82 | Rating: 4Stars —_ InterContinental Singapore FHT ranked 3% in APAC Hotel acco
Slide 24: ZH RATES
Ez ZH RATES TRUST Inspiring experiences, creating places for good.
Slide 25: Hotels Managed by Third-Party Operators
Hotels Managed by Third-Party Operators Valuation as at Property Country Description Tenure Class Rooms 30 Sep 2023 Novotel Strategically located within A$239.0 million Melbourne on Australia Melbourne’s core CBD area Freehold Upscale 380 (A$0.6 Collins along Collins Street million/key) ] 4.5-star h
Slide 26: Hotels Managed by Frasers Hospitality and Third-Party Operators
Hotels Managed by Frasers Hospitality and Third-Party Operators Valuation as at Property Country Description Tenure Class Rooms 30 Sep 2023 . Elegant hotel ideally located in ae Park International A 1 £42.6 million London UK the heart of Kensington and 75 years’ Upscale 171 (0.2 million/key) Chelsea
Slide 27: Serviced Residences Managed by Frasers Hospitality
Serviced Residences Managed by Frasers Hospitality vloon ee Property Country Description Tenure Class Rooms 30 Sep 2023 First luxury apartments in Sydney . - ' f Upper A$140.0 million Australia designed by internationally 75 years! 201 ye renowned architects Upscale (A$0.7 million/key) Fraser Suites
Frasers Hospitality Trust — 1H FY2024 Earnings Presentation on 6ix