Singapore Exchange Ltd. · SGX:S68

Singapore Exchange — Saizen REIT — Investor Presentation (March 2009)

7 slides from Singapore Exchange's investor presentation, Mar 16, 2009

  1. Slide 1: Update on Rights cum Warrants Issue

    www.saizenreit.com.sg Presentation - Update on Rights cum Warrants Issue 16 March 2009 Prepared by Japan Residential Assets Manager Limited (Manager of Saizen REIT)

  2. Slide 2: Disclaimer

    Disclaimer • This presentation has been prepared by Japan Residential Assets Manager Limited (the “Manager”) as manager of Saizen Real Estate Investment Trust ((“Saizen Saizen REIT”) REIT ) in connection with the proposed renouncement non non-underwritten underwritten rights issue of new units with

  3. Slide 3: Summary of the Rights cum Warrants Issue

    Summary y of the Rights g cum Warrants Issue Issue Renounceable non-underwritten rights issue with free 3-year warrants S Structure ¾ 11 rights i ht units it for f every 10 existing i ti units it ¾ 1 free warrant for every rights subscribed for ¾ Up to 497,185,362 rights units and up to 497,185,362

  4. Slide 4: Reasons for the Rights cum Warrants Issue

    Reasons for the Rights g cum Warrants Issue ¾ Increase the equity capital base of Saizen REIT to facilitate the refinancing of CMBS loans ¾ Rights issue is fairest means of equity fund raising ¾ Aim to protect value of Saizen REIT’s assets from CMBS loans refinancing risk ¾ Ensures survival even if

  5. Slide 5: Current Development

    Current Development p ¾ Credit markets have further deteriorated since beginning of year ¾ Financial adviser appointed to assist in syndicated loan financing for a major portfolio ¾ Securing short-term bridging facilities to repay smaller CMBS loans with the aim to unencumbering properties ¾ Seeking

  6. Slide 6: Benefits of the Rights cum Warrants Issue

    Benefits of the Rights cum Warrants Issue ¾ With (i) proceeds from Rights cum Warrants Issue; (ii) cash cash-on-hand; on hand; (iii) operational cash flow conserved; and (iv) short term bridging facilities (not more than S$10 million), Saizen REIT is expected to fully repay five out of six CMBS loan

  7. Slide 7: Progress of Rights cum Warrants Issue

    Progress of Rights cum Warrants Issue ¾ Regulatory approval in progress ¾ Circular expected p to be despatched p byy end March 2009 ¾ Unitholders’ meetingg expected p in mid April p 2009 ¾ Rights g cum Warrants Issue to commence in end April/ p earlyy Mayy 2009 7

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