Digital Core Reit · SGX:DCRU
Digital Core Reit — Investor Presentation (April 2025)
36 slides from Digital Core Reit's investor presentation, Apr 9, 2025
Slide 1: Digital Core REIT SIAS Virtual Dialogue
Digital Core REIT SIAS Virtual Dialogue 9 APRIL 2025 Core | Sustainable | Growth
Slide 2: Table of Contents
TABLE OF CONTENTS 1 FY24 Financial Results 2 Portfolio Overview 3 Financial Overview 4 Strategically Positioning for the Future 5 Annual General Meeting 2025 (AGM) 6 Data Centre Market Information APRIL 2025 | 2
Slide 3: FY24 Financial Results
SECTION 1 FY24 FINANCIAL RESULTS APRIL 2025 | 3
Slide 4: FY24 Key Highlights
FY24 KEY HIGHLIGHTS Dedicated Core Data Centre REIT Focused on Driving Sustainable Growth CORE SUSTAINABLE GROWTH Invested +$250 million to 3.60 U.S. cents Artificial Intelligence AI expected to contribute to continued growth in increase ownership stakes in Frankfurt and Osaka, achieving scale and F
Slide 5: Market and Portfolio Update
MARKET AND PORTFOLIO UPDATE Capitalising on Favorable Fundamentals to Proactively Manage Portfolio with Strong Support from Sponsor’s Global Platform ROBUST NEW + RENEWAL LEASING VOLUME RECORD LOW VACANCIES ACROSS CORE GLOBAL MARKETS Toronto Los Angeles Market Size (MW) Colocation Vacancy (%) 5,421
Slide 6: AI Augmenting Digital Transformation Demand
AI AUGMENTING DIGITAL TRANSFORMATION DEMAND Data Centre Demand by Workload in North America (GW) Cloud + digital transformation fundamentals remain robust, while artificial intelligence has dramatically accelerated global data centre demand (1) 56 2.5x CLOUD HYPERSCALE 2023-2030 Cloud computing stil
Slide 7: ESG Factors and Targets
ESG FACTORS AND TARGETS E S G Creating a More Sustainable Future ENVIRONMENTAL SOCIAL GOVERNANCE Managing our impact on the environment Giving back to the communities we serve, Committed to embodying good through energy and water use optimisation encouraging employee involvement and governance and h
Slide 8: Distribution and AGM Details
DISTRIBUTION AND AGM DETAILS Annual Report Published on 26 March, Annual General Meeting Scheduled for 16 April DISTRIBUTION DETAILS UPCOMING AGM DETAILS (U.S. cents per Unit) 3.60 • Reported full-year 2024 financial results and unaudited financial statements 1.80 1.80 12 February 2025 1H24 2H24 Ful
Slide 9: Building Blocks of DPU Growth
BUILDING BLOCKS OF DPU GROWTH Robust 2024 Leasing, Financing, Investment Activity Substantially Bridge 2025 Gap to 2026 Reversion Potential +2% +4% (10%) +3% Full-Year 2024 Frankfurt Facility (1) Toronto + L.A. (2) Credit Facility (3) Linton Hall (4) Pro Forma (5) Distribution Full-Year Run-Rate Lea
Slide 10: Core | Sustainable | Growth
CORE | SUSTAINABLE | GROWTH Focused on Delivering Long-Term, Sustainable Value for All Stakeholders Unparalleled Sponsor Pipeline Same-Store Constant-Currency AUM Growth Driven by Robust Leasing Activity + Market Rent Gains 2022 - 2024 2025+ Market Rent (2) WALE Occupancy Discount Rate (3) AUM (4) $
Slide 11: Portfolio Overview
SECTION 2 PORTFOLIO OVERVIEW APRIL 2025 | 11
Slide 12: Portfolio Highlights
PORTFOLIO HIGHLIGHTS Portfolio of High-Quality, Mission-Critical Data Centres Concentrated in Key Metros across U.S., Canada, Germany and Japan KEY PORTFOLIO METRICS PORTFOLIO PROFILE (3) 7% 9% Frankfurt 30% Northern Virginia 12% Metro Silicon Valley $1.6 Bn 97% 100% Diversification Toronto AUM (1)
Slide 13: Customer Profile
CUSTOMER PROFILE Strategically Important Customers with Numerous Deployments across Digital Realty’s Global Platform CUSTOMER PROFILE TOP 10 CUSTOMERS (in USD thousands) Number of Annualised % of > 100 Customer Trade Sector Credit Rating Locations Rent Total 1. Fortune 50 Software Company Hyperscale
Slide 14: Core Data Centre Portfolio
CORE DATA CENTRE PORTFOLIO PORTFOLIO SUMMARY (As at 31 December 2024) (in USD thousands) At Share (1) (1) (2) Appraised Value Portfolio Value WALE Net Rentable Customer Annualised Occupancy Property Property Type Ownership (%) (at 100%) (at Share) (in Years) Square Feet IT Load (kW) Rent 31-Dec-24 3
Slide 15: Portfolio Valuation Update
PORTFOLIO VALUATION UPDATE Year-over-Year Growth Driven by Robust Leasing + Market Rent Gains (in thousands) 31 December 2023 Asset Values 31 December 2024 Asset Values Year-over-Year Change Local Ownership USD Local Ownership USD at Share Property Currency USD (1) Percentage at Share Currency USD (
Slide 16: Financial Overview
SECTION 3 FINANCIAL OVERVIEW APRIL 2025 | 16
Slide 17: Stable Earnings Profile
STABLE EARNINGS PROFILE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) (in USD thousands, except per unit) Full Year Ended 31 December 2024 31 December 2023 Variance (%) Revenue $102,274 $102,591 (0.3%) Property Expenses (40,442) (39,541) 2.3% Net Property Income ("NPI") $61,832 $63,050
Slide 18: Initial Scale Positioned for Substantial Growth
INITIAL SCALE POSITIONED FOR SUBSTANTIAL GROWTH CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Unaudited) (in USD thousands, except per unit) As at 31 December 2024 31 December 2023 Variance (%) Investment Properties 1,852,018 1,114,887 66.1% Investment Properties held for sale – 178,000 (100%) Other
Slide 19: Significant Debt Capacity and Flexibility to Grow
SIGNIFICANT DEBT CAPACITY AND FLEXIBILITY TO GROW Healthy Leverage and Flexible Capital Structure Positioned to Fuel Growth DEBT MATURITY SCHEDULE DEBT PROFILE ICR SENSITIVITY (in USD millions) ANALYSIS (1,2) Unsecured Term Loan Unsecured Revolver (Drawn) Unsecured Revolver & Term Loan (Undrawn) EBI
Slide 20: Strategically Positioning for the Future
SECTION 4 STRATEGICALLY POSITIONING FOR THE FUTURE APRIL 2025 | 20
Slide 21: Executing Strategic Priorities
EXECUTING STRATEGIC PRIORTIES 4 Seeding Growth 3 Scale and Diversification 2 Portfolio Quality 1 In Core Global Markets APRIL 2025 || 21 MARCH 21
Slide 22: Investments Established Position in APAC
INVESTMENTS ESTABLISHED POSITION IN APAC Connected Campus Located in Osaka, Anchored by Investment Grade Customers Osaka Data Centre: DIGITAL OSAKA 3 (KIX12) CUSTOMER PROFILE (3) 100% Credit Investment Grade Non-Investment Quality Grade 17% 193,535 19,900 100% Trade Hyperscale CSP JAPAN SQUARE FEET
Slide 23: Pro Forma Highlights
PRO FORMA HIGHLIGHTS ACTUAL (2) PRO FORMA (3) AUM (US$) (1) US$1.6 Bn US$1.7 Bn GEOGRAPHY 7% Metros (4) 11% Metros (4) Frankfurt 30% Frankfurt 29% 30% Northern Virginia 26% 29% Northern Virginia 24% North America 60% 63% Silicon Valley 17% Silicon Valley 16% Europe Toronto 13% Toronto 12% Los Angele
Slide 24: Investing Accretively, Seeding Growth
INVESTING ACCRETIVELY, SEEDING GROWTH Investing Accretively with Stable Cash Flows DPU ACCRETION (1) STABILISED DATA CENTRE Distribution Per Unit (“DPU”) (US Cents) 1.8% • Predominantly leased to leading global cloud providers with large and growing Blue-Chip 3.67 global data centre footprints 3.60
Slide 25: Connected Data Centre Campus in Core Market
CONNECTED DATA CENTRE CAMPUS IN CORE MARKET KIX12 Third data centre built on Osaka campus Completed in 2021 Digital Core REIT owns 20% interest KIX13 Fourth data centre built on Osaka campus Completed in 2023 Certified NVIDIA DGX H100-ready Offers high-speed access to support accelerat
Slide 26: 2025 Annual General Meeting (AGM)
SECTION 5 2025 ANNUAL GENERAL MEETING (AGM) APRIL 2025 | 26
Slide 27: AGM Resolutions
AGM RESOLUTIONS Digital Core REIT’S AGM will be convened and held at NTUC Centre, 1 Marina Boulevard, Training Room 801 on Level 8, One Marina Boulevard, Singapore 018989 on Wednesday, 16 April 2025 at 9.00 a.m. (Singapore Time). AGM Resolutions (1) To receive and adopt the Report of Perpetual (Asia
Slide 28: AGM Key Dates and Actions
AGM KEY DATES AND ACTIONS Key Dates Actions 5.30 p.m. on Wednesday, Deadline for Unitholders to submit questions in advance. 2 April 2025 9.00 a.m. on Sunday, Deadline for Unitholders to submit the Proxy Forms. 13 April 2025 Date and time of AGM: Registration for AGM will commence at 8.00 a.m. on We
Slide 29: Data Centre Market Information
SECTION 6 DATA CENTRE MARKET INFORMATION Provided By: APRIL 2025 | 29
Slide 30: Northern Virginia
NORTHERN VIRGINIA KEY DEVELOPMENTS ABSORPTION AND SUPPLY Sprawl Continues, but Q4 was all about Core Ashburn (1) Absorption (MW) New Supply (MW) Activity in Northern Virginia remains focused on site selection, with Dominion enhancing its transmission network and providers migrating 600MW south towar
Slide 31: Northern California
NORTHERN CALIFORNIA KEY DEVELOPMENTS ABSORPTION AND SUPPLY Pacific Gas and Electric receives $15 billion loan for grid improvements (1) Absorption (MW) New Supply (MW) The recent boom in data center demand has caused strain on utility providers everywhere. The strain ranges from electricity generati
Slide 32: Toronto
TORONTO KEY DEVELOPMENTS ABSORPTION AND SUPPLY Canada Commits to AI Growth (1) Absorption (MW) New Supply (MW) The Canadian federal government launched an initiative to fund public supercomputing infrastructure and make computing power available for 40MW Canadian AI researchers and companies, named
Slide 33: Los Angeles
LOS ANGELES KEY DEVELOPMENTS ABSORPTION AND SUPPLY Los Angeles market gains traction (1) Absorption (MW) New Supply (MW) After many years with little to no new projects active simultaneously, growth in Los Angeles has picked up. In the city of Vernon, just south of 24MW downtown Los Angeles, Coresit
Slide 34: Frankfurt
FRANKFURT KEY DEVELOPMENTS ABSORPTION AND SUPPLY Elevated demand driving pre-leasing prior to planning approval (1) Absorption (MW) New Supply (MW) Hyperscale providers continue to drive pre-leasing activity, often on entire planned campus developments. An emerging trend, however, is 200MW that many
Slide 35: Osaka
OSAKA KEY DEVELOPMENTS ABSORPTION AND SUPPLY Japanese authorities signal that nuclear energy is no longer to be (1) minimized in its long term energy planning Absorption (MW) New Supply (MW) Recent developments in the nuclear power industry have positive 80MW implications for future power generation
Slide 36: Core Sustainable Growth
Core Sustainable Growth
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