Slide 1: Investor Presentation FY & Q4 2016
INVESTOR PRESENTATION FY & Q4 2016 PAGE 1
Slide 2: Speakers
SPEAKERS Sylvain Vieujot Abdul wahab Al Halabi Magali Mouquet CEO Group CIO Group Head of IR PAGE 2
Slide 3: Portfolio & Financial Update
PORTFOLIO & FINANCIAL UPDATE FY & Q4 2016 PAGE 3
Slide 4: Office Market
OFFICE MARKET Office Price Movements, Sep 2008 Base = 100 Growth Recession Stagnation 100 Retail 80 Rental Rental Retail Rents Rents Index growth growth falling falling Tower slowing slowing 60 REIT Launch 4Q 2015 4Q 2016 40 Rental Rents Rental Rents growth bottoming growth bottoming 20 accelerating
Slide 5: Key Messages
KEY MESSAGES v Slow growth in occupancy v 5% average increase of existing lease rates v 10.2% total return v 22.8% increase in rental income v 38% growth in Funds From Operations v Increase in portfolio value and net asset value PAGE 5
Slide 6: Operational Update
OPERATIONAL UPDATE FY & Q4 2016 PAGE 6
Slide 7: Developments
DEVELOPMENTS Delivered Started Sept 2016 New Floors Q4 2016 On time & budget Under construction 40,011sqft Pre - Leasing PAGE 7
Slide 8: Jebel Ali School
JEBEL ALI SCHOOL PAGE 8
Slide 9: British Columbia Canadian School
BRITISH COLUMBIA CANADIAN SCHOOL PAGE 9
Slide 10: Index Tower
INDEX TOWER Resolving traffic Gate Avenue routing issue with RTA under construction Executive bus service Progress on Retail to DIFC gate pre-leasing (Index Mall) PAGE 10
Slide 11: Occupancy
OCCUPANCY 100% 100% 83% 20% 93% 100% 86% 98% 90% 80% 70% 60% 50% 40% 30% 20% [| 10% 0% jex ower ul PAGE 11
Slide 12: Rent Contributions
RENT CONTRIBUTIONS CURRENT INCOME MIX ANNUALIZED PER PROPERTY Other 1.5% Education 29.1% Commercial Retail 58.6% 10.8% PAGE 12
Slide 13: Portfolio Overview
PORTFOLIO OVERVIEW 31-Dec-16 31-Dec-15 Lease expiries 75% Number of properties 9 8 Leasable area in m ft2 1.97 1.785 WAULT in years 8.5 8.5 Total occupancy rate 81% 78% 7% 5% 5% Property income yield 7.6% 6.9% 4% 4% 2017 2018 2019 2020 2021 2022 ++ PAGE 13
Slide 14: Financial Highlights
FINANCIAL HIGHLIGHTS FY & Q4 2016 PAGE 14
Slide 15: Strong Cash Profit Conversion
STRONG CASH PROFIT CONVERSION FFO movement (USD m) 38% 22% 17% (2.2) 9% 41% (1.2) 9.2 (2.7) 11.3 8.2 2015 Property income Property Fund expenses Finance cost, net 2016 operating expenses PAGE 15
Slide 16: Valuation Increase
VALUATION INCREASE Property Value (USD m) Net Asset Value (USD m) NAV per share (USD) 752.7 493.4 1.65 469.6 5% 1.57 5% 12% 673.2 FY 2015 FY 2016 FY 2015 FY 2016 FY 2015 FY 2016 PAGE 16
Slide 17: Balance Sheet Overview
BALANCE SHEET OVERVIEW In USD million 31-Dec-16 31-Dec-15 Change LTV Ratio (%) – Equity and Liabilities INVESTMENT PROPERTY 752.7 673.2 11.8% 37.8% 34.7% TOTAL ASSETS 832.5 741.3 12.3% EQUITY 493.4 469.6 5.1% 493 LIABILITIES 339.0 271.8 24.8% 470 ISLAMIC FINANCING 315.0 257.3 22.4% 339 NAV PER SHARE
Slide 18: Summary
SUMMARY USD 753m 1.97m sqft Portfolio Value Net Leasable Area USD 493m 81% Net Asset Value Occupancy USD 1.65 per share 8.5 years Net Asset Value WAULT Weight average unexpired lease term 9 Properties 244 tenants 5 Office-retail mix 1 Retail NAV per share is calculated by the REIT administrator. Gro
Slide 19: Questions & Answers
Questions & Answers FY & Q4 2016 PAGE 19