Keppel REIT · SGX:K71U
Keppel REIT — Shareholder Meeting (April 2021)
19 slides from Keppel REIT's shareholder meeting presentation, Apr 23, 2021
Slide 1: Annual General Meeting
Annual General Meeting 23 April 2021
Slide 2: Outline
Outline Constituent of: ▪ FY 2020 in Review 3 FTSE ST Large & Mid Cap Index ▪ 1Q 2021 Update 12 FTSE EPRA Nareit Global Developed Index IMPORTANT NOTICE: The past performance of Keppel REIT is not necessarily indicative of its future performance. Certain statements made in this presentation may not
Slide 3: FY 2020 in Review
FY 2020 in Review Pinnacle Office Park, Sydney 3
Slide 4: Sustainable Pan-Asian Portfolio with Income Resilience
Sustainable Pan-Asian Portfolio with Income Resilience $8.9b Singapore, 78.0% Australia, 18.5% ESG Awards Grade A commercial portfolio with ▪ BCA Green Mark Platinum award for strong committed occupancy to an South all Singapore assets established and diversified tenant base Korea, 3.5% ▪ 5 Stars an
Slide 5: Established and Diversified Tenant Base
Established and Diversified Tenant Base ▪ Keppel REIT has a diversified tenant ▪ Top 10 tenants take up 41.5% of NLA base of 353(1) tenants, many of which are and contribute 36.7% of gross rent established blue-chip corporations Top 10 Tenants Tenant Business Sector State of Victoria 10.3% Banking,
Slide 6: Managing the COVID-19 Situation
Managing the COVID-19 Situation ▪ Keppel REIT’s quality office portfolio and high-quality Safety measures to facilitate return to workplaces: tenant profile continue to provide income resilience ▪ To support tenants, and in line with government measures, measures were implemented to alleviate tenant
Slide 7: Continuing Portfolio Optimisation
Continuing Portfolio Optimisation FY 2020 developments: ▪ Portfolio optimisation to improve yield and ▪ Commencement of Victoria Police Centre’s income contribution create long-term value for Unitholders ▪ Acquired Pinnacle Office Park to expand into Sydney’s Grade A ▪ Holding quality assets across
Slide 8: Victoria Police Centre Achieved Practical Completion
Victoria Police Centre Achieved Practical Completion ▪ Commencement of the 30-year lease for Victoria Police’s new headquarters contributes a steady income stream to Keppel REIT ▪ The Grade A office tower is powered by 100% renewable electricity as part of the City of Melbourne’s second Melbourne Re
Slide 9: Acquired Pinnacle Office Park in Sydney
Acquired Pinnacle Office Park in Sydney ▪ Acquisition completed on 31 Dec 2020 as part of ongoing portfolio optimisation to improve income resilience and portfolio yield ▪ Gains exposure to Macquarie Park, a key Australian metropolitan office market ▪ Expands into Grade A metropolitan office space t
Slide 10: Strategic Acquisition of Keppel Bay Tower
Strategic Acquisition of Keppel Bay Tower ▪ Obtained Unitholders’ approval at the Extraordinary General Keppel Bay Tower (left in picture): Meeting and targeted for completion in 2Q 2021 Singapore’s first commercial development that is fully powered by renewable energy and certified BCA Green Mark P
Slide 11: FY 2020 Key Highlights
FY 2020 Key Highlights 5.73 cents Ongoing portfolio FY 2020 DPU optimisation Up 2.7% y-o-y; 2H 2020 DPU was 2.93 cents (Up 4.6% y-o-y) Added Melbourne’s Victoria Police Centre(3) and Sydney’s Pinnacle Office Park. Proposed acquisition of Keppel Bay Tower in Singapore $194.6m FY 2020 distributable in
Slide 12: 1Q 2021 Update
1Q 2021 Update Marina Bay Financial Centre, Singapore 12
Slide 13: Key Highlights
Key Highlights $51.6m 96.5% 1Q 2021 distributable income High portfolio committed occupancy from operations(1) as at 31 Mar 2021 Up 22.0% y-o-y $270.0m 6.7 years Gross proceeds raised from the Long portfolio weighted average lease private placement(2) that was expiry (WALE) as at 31 Mar 2021 approxi
Slide 14: Financial Performance
Financial Performance Achieved year-on-year growth in distributable income from operations due mainly to: ▪ Contributions from Victoria Police Centre and Pinnacle Office Park, higher one-off income as well as lower borrowing costs ▪ Offset by the impact of slightly lower portfolio occupancy Distribu
Slide 15: Prudent Capital Management
Prudent Capital Management ▪ All-in interest rate reduced year-on-year to 2.01% p.a. from 2.58% p.a. ▪ Successful private placement of 238.9m new Units to partially fund the acquisition of Keppel Bay Tower, as well as increase Keppel REIT’s free float and liquidity ▪ Green loans represented approxim
Slide 16: 1Q 2021 Leasing Update
1Q 2021 Leasing Update New leasing demand and expansions from: Leases Committed Leases Committed Total Leases Committed Banking, insurance and financial services 38.8% by Geography(1) by Type(1) ~309,800 sf Singapore, Renewal, Manufacturing and distribution 32.7% (Attributable ~146,800 sf) 46.7% Leg
Slide 17: Operating in the New Environment
Operating in the New Environment Wellness Flexibility Technology 1m Strong hygiene, air quality Incorporation of flexibility into office Robust IT infrastructure and smart and safe management design and work arrangement building technology to support tenant measures to enhance to facilitate collabor
Slide 18: Committed to Delivering Stable Income & Sustainable Returns
Committed to Delivering Stable Income & Sustainable Returns Portfolio Optimisation • Portfolio optimisation to improve yield, while maintaining exposure to Singapore CBD Portfolio • Hold quality assets across different markets for improved income stability Optimisation and to provide more long-term
Slide 19: Thank You
Thank You For more information, please visit: www.keppelreit.com Connect with us on: Ocean Financial Centre, Singapore 19