Fukuoka Reit Corporation · TSE:8968
Fukuoka Reit — Investor Presentation
42 slides from Fukuoka Reit's investor presentation
Slide 1: Fukuoka REIT Corporation
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Slide 2: Disclaimer and contents
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Slide 3: Fukuoka REIT
Fukuoka eit
Slide 4: Fukuoka REIT highlights and overview
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Slide 5: Distribution per unit and NAV per unit trends
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Slide 6: Feld] ~ FL IN Sh Eb
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Slide 7: ePINOD
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Slide 8: A—-hKIAZVAD CORPO
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Slide 9: are
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Slide 10: taht] ALIN Osh ADS
taht] ALIN Osh ADS RAO GE) TN HES RIRE TR Ley Be Sh 30 FU AIRE 6 BU LONI AR DN SRE (Fi —2 + SHH) ae HE 26% UIE are Biv { MM 6%~26% ALKIL—b HE 3%~6% PHBL EB 0.196~3% ES 0.190% % | 24UELBIL— | REF IVEMRACLUMB END AY AGERAL TAT, SMBMHOMIMS 2023 FHM OME BIML ET. HR, SEE Ae HEME BE Py (SCALP te ABA SE He
Slide 11: Fukuoka REIT
Fukuoka eit
Slide 12: Highlights of results
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Slide 13: Distribution per unit forecast
So) BC HERS QUIT VT 4 tall (VUF UAE) (ED) TCHR 5541 APB 600 FA& Ht 9 2024 = 2 AeA (3934) RH (HTRALL) 26F1 443 1039 3800-37531 A, mA 24475 PAL ZKFEARIRA £95FA T T T T T T RMR ett Set. MBFD REDE ease 38 wwBRSC HS 8618S Evan MRMSC TOM were Gertie maak roth BIOM ROR se (ARARIA) (MET) (RARNO) NOB IRA 138
Slide 14: Distribution forecast
MLSS Bo IDLY T Seite Miia Ace Blt 3,800 FA QUIP LF 448 (UFO -4 FR) (BM) O MEI ENO, "ERATE BRE MINA BEMLHREO ME SRE (HRC) FANE BMBHLOF BACO# it?) (A) 3,900 3,753 \ 7~-#960F9--3 3,700 3,580F9 3,600 4 {adr Fy 1459 3,500 543] LG 3,300 . 3,100 5 2,900 RAMBO ZH 2,700 2,500 | 53738 338301 583938 54098 | tH
Slide 15: Results for period ended Aug 2024
5 40 #A(2024 8 AR) ete 78 SCAN a RTS RO BC EIIBLYT 3,600 AER (htt: BF) (HRs SMR AOKSLL CRM) Hi: FAA _ wconam |gtipats| a | ae | aeswen MHIOMRALB4OMF (SHAH) LOZRER (a) (6) © (C-A) (CB) Py aan) dns nnn nnd DEH DP IF RK Ai6 BALTIY FB SVT F4GS-B 39 BARA 9,326 9,322 9,305 A21 A16 K-YFVARKS +31 AKORE— LAA
Slide 16: Forecast for following period
541 #A(2025 42 ABA) RHP QUA YT 4 tall (LUFT TER) EDM) RBRRODAEICAT 3,600 AXE (4 BBR) (FRtAMAARAORBLL Tit) Bi: AAA an S4oMpBisaam | RAMP SEAR) walalare Melia) BSN FR SHOWLBUM PE (SHAR) COZRER (A) (BA ttn nnn rene nsssececccecsnsssssccccsssssccccccccsscs sss ccsc es sy OP F476 +21 WHY F4S/ Set F418 SB
Slide 17: Fukuoka REIT
Fukuoka eit
Slide 18: External growth strategy and acquisitions
HEB RORY RAAT St SA BU—hKELTHR—hIAVAILKOVUATAMERY, ARIK 2,500 ACRES (RK 3,000 fF) DARLEY —N4AIS4y @RALVIT RUGSLVT ILS SBMAIOL IPA RET ORR ROMRAOL LILA ET OST IU T1183 1—AbE LBMRERH OB MMAMOt-1 LRH ABIAILI.81% (20242 ARR) | shite BOY TB ORE - NiO BRAMALL AEE ASHOMBDLI DV NDEBDLEABDSORG @RAD=—AE RIF Y
Slide 19: Financial strategy and debt
QDADAAY—F YEA 2S RL CHS. At OHetL Ronis tH BRC DAA “REELAIACILO REM OFF FBR FE LAV BMI oF %) 40,000 20 SE FRKKREGM) ON SEALE = . > SER) + SER (RAE) 35,000 “7 SER ARMHATI“AE WL) RRBOSK — 5.38% : 4% fl 5.4306 ( ee 4. pated, RR 53.81%, 30,000 — 15:38 PE 72 aR 5.54% 15 i 6.48% x w 4.47% 25,000 i . 1 2.9
Slide 20: Portfolio occupancy by asset type
APALILRGHSA: PB SHOR SII tO RE AWoAS, BRAT ZIc (%) a FaterreoaRes—e | Oe Ae ee PA 712E LOR $2.98 SET HETUAR-23,031.14m (6.9661) TATE 0 (MFR (RA): F39H9:94.9% HAH A:96.8%) > BARBIE VAAL S— , Oo = sss ‘ 4 97.9 98.4 98.7 99.0 = Sra ©. eee iisiacthinhainsiniaeiitishlaciillhcs:s = 100.0 PryIARSEIL ce 100
Slide 21: Portfolio property details
fae) DAB OAK: CAR RHE BBASE 1 SE AS CURUMU EARS Sid ELH ALARR (@) Kushida shrine amen emt Amomraee IRE £5 ama Gamenéa fiznm a Fo. TERASO', OxW sw, TERASOS me MBE PE 118% 500m BA - me B.- wa 2 fay ira NG mae a ae [Hey 2A 48 Hh PERCE REP EB Se ~ HILL ECS MEO RNY 4 sar OFr Fer aS HMA RAD SHES HI) OAORE
Slide 22: Fukuoka redevelopment (Tenjin Big Bang)
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Slide 23: Fukuoka redevelopment (Hakata Connected)
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Slide 24: Fukuoka market data
FINNIE DIK: ANAONHBA Q I m ie Seen BEARKEORD 500,000 V 450,000 PPAF OMA RT 400,000 350,000 300,000 250,000 200,000 150,000 100,000 Y \ ‘20253AA BMAB2KAO AERA HE ye ME ABA —O— 20184 Att (96) PEIB AHR TARR 120 $35 100 TRER A BAD 50,000 0 Tat — I i eee Eee EEE ARRARRAR RRR RAR RRA RRR RR ARR RRA AR RRR
Slide 25: Retail property performance
RAF THO KI KARO Feit Ort F182 Oar tT 77118S°B 23918 A RESELL +22.0% (RELL +49.6%) LYS —FAYAVHED BUM BS BS HE aK. 202349 Alpen FUKUOKAZSYEA—FL 4 YVARIYERRORASICEYR LS MITES. 2023473 A ~20242F Feb (Mat Ce) @iN\—FILARAKD 25918 FA PEELE +2.2% (HEEL +6.6%) 202343 ~202442F FEL (haat) GMS#4 AY RRMREERLI SM
Slide 26: Retail tenant sales trends
ANF IIT ABS OI: List Step 5é 7. Alpen FU A DEARETUING Dvr F1 HE ORLEBLANADABSK | RADY 4—AlARMOHKS (Alpen FUKUOKA FAX) (BAA Oe TT TSR LAD Oe ANADABSR 5s ff MMM 2022 F9A~20232AR MMM 20234%9A~202442A -@ 2018 Fit wm, 16,000 3,000 25,000 160.0 135.2548 14,000 2,500 5 O68 121.7% 12am 100. > : 2 120.0 12,0
Slide 27: Property acquisitions and dispositions
BE ORE (W/V 7418 FRGILASSMBEEAWS Cela (VUF FIER) G2M)) LE (FE) FEORE WERE QPL FB (PIF FTE JEM) Ath (Es) | ARERR RITE 128308 2H 2024 #2298 BES ar MMA SH RUEMTROBKAA ®ik (FE) A 20244928 Ear 754B4AA 2024 8 AX:7718 5A (BE) OST A 2024 2A: 795A 5 ME(FE) Me | 78355F Pie (PE) BE | 11 FA (2024468 ARH AONE MM
Slide 28: Hotel and office market data
EMU BYbORKIR (Witt hez) HMOLF I WiitiRRORR NGUALZEE ©2023 FOS RIS— HAIL AT SE, 2024 4 LAREE TP IAA *) MEGA ME GRRE -O- 2Ee 120,000 12 * 8 100,000 10 80,000 8 60,000 6 40,000 4 20,000 2 0 0 20164 20174F 20184 20194F 20204 2021% 20224 20234 20244 20254 (TF OREERMOIRS VUUM LEOPARD MA BMAAREDVET. FNMA —
Slide 29: Hotel and tenant performance
EOS Lyk OKin GER RTL) LF tyYb Seles EY Cybhit eal, 7K LEORR Om BMECHRE ae 35M 360 37M som 330% (202242 AYR) (202238 AW) (202322 AM) (202348 RM) (202472 AX) PAYIAR ESI — 96.9% | 96.3% 94.2% | 98.6% 98.2% VIAINIAIFPSBY 98.6% 97.2% 98.8% | 97.0% 97.4% Aqualia+# 99.3% 98.3% 98.9% | 97.8% 98.6% Fa VAYISB
Slide 30: Unit price and investor data
PAIK RO DABS (BAA H) [RBA 9635085 RELTASURERRT 51-0) SMILED BIT EBNRE MRL JRO SAUTE : SEMEL OO ERGA SORIA IAT SCLC MBB OMSHE ROS B SAPS Hh os RUT AR EROS . . (6) HPL BAI (9) NS RE) ec ORO MEA St 1.1 6 EF HARROD HE HHLOO 1.0 5 PBEM ORS (ER7~10F) HHE/ROLEOME WAPLYOER 09 4 SICkUAPMEIALIY HO /LEMS 08 3
Slide 31: Debt maturity and LTV
PAIK IR) I$ERF OE. ERR50% BREA ODA (2024 2A 29 AR) Bch Mt ME RAR (BBA) 14,000 13,000 12,000 10,000 8,000 6,000 4,000 = aon 2,000 { a = 1,50 70! 1,000 1,000 | 1,000 B ; - : + : : - 1 r = 1 SC nC Ce a ee ee ee ee ee ee eo ee ee ee eo ee) ee com | [ 2024% | 2025% | 2026% | 2027% | 2028" | 2020% | 2030
Slide 32: Appraisal values by property
bi FA (a FALE+3,377 BAP) (ite: BAD B39 - a - = 39RD = RIIMRO genase neh ets Te cope | RRM mm MEEO Cre |= MENON EEREKCO COT] EER trast 0) @ O®@ ® ® ® 3S) ANT NFS 32,000 6.0% 29,000 29,730 | 4730 4.2% 29,300 | 4300 4.2% 00% s8eaKER NTN T1188 -B 21,060 | 5.4% 21,700 20,389 | 1,310 4.3% 21,700 | () 43%
Slide 33: ESG initiatives
FATTFEUTANO RY HAA alk AN4G 38 84.6% (2024 4 2 AF RA) [| 22RE TUT UT) WDE )LEBEE RNIB OPN VHRVAASHL EAL TIVASHEGMLTLAL «=@ (2030 F¥ TIX) O7)-C EERE RARAOEM LEE EMRAAE ME SEO CODE S59eHl ah (2019 1 IMI) - Laue Heese FBIHADILE 7596 oe i © PMATE ADO MAE RU REE e RIBL DUBICL ITE RARE MFORRETS © (2030##T
Slide 34: Investor information
IRta eh ORRATL1—)L( Bit hl) nak | mum | REEENESR RNA | mNR | FERENERS 2024478 AA 20254F2A HA ($4084) (384139) fa U—hRAAKAD ITIVE CERAVIRAM AMSA GHRMEOHMLCWET. (A A—)JLEHEY—-EALCEWES, HU-EBCRCESL, eM —+RAKEAVIFUTb OP WS ~ SBA O th ist 5 1b BY — tb = SSS - tip ews s iin cecocaaal https://www.fukuoka-r
Slide 35: Fukuoka REIT
22 ) Fukuoka eeit 3
Slide 36: Sustainability initiatives
KUNE FAS STEED <A GAS HS OiRaE (FETED AT) COTM AD ERS RU GHEE O LED AS BH I aeRBS HUA aT HKOAREHARO AMER, RUGROWBREIANT CES BMILA MER. Kt, VATCMROKRECUBNCE BEE ROY BEE, DARYIZS1LY IWBAEN ER RADIA TS BEM OHLAILY—IL- ee (GIA, BB, ZEB-ZEH tk, ABHHRBS) PROMS RERANC MA OREEALRY S/ RAMTRIS MRROWGBNI VE AO
Slide 37: Property capex and renovation plans
RN ENS FA TAT BOCMBWEREOREE (EBM) WOKVIUAPHICB SMBH EOE SAHRA (2023 410A) DBI LAND (at) Pane UBM EONS 15°C HA HE UAa - 4352 RBA BAAR ATS ARR - 188 BIA-MITA (AY I-TD BHI LSA YA - A783 RFD BLA Ab (LEO yb) - BILAL —Ke | | CAPEX dai BAUZD: (ALY O4Th) BUEICADSAAMABMTS ae KREBMRDRRULALY— | BITLAL¥—-BMOMBA
Slide 38: Financial summary by period
RANTS Th 1 4t-Y 5) 3,807 (tt AD m8 Pe ae eee eee ae Ee aes 8,658 8,830 9,037 9,284 9,326 41 9,305 9,242 Faas : =| 115 432 237 A194 : 0 NOI 5,334 5,370. 5,274 5,152 5,531 379 5,628 5,620 Pmt eae 1,486 1,514 | 1,499. 1,531 1,609 Ti. 1,617 1,621 Ee Sess 3,185 3,181. 3,223 3,372 3,462 89 3,305 3,301 SHA
Slide 39: NAV and LTV trends
RAV(IBORERMROHE (Inihie<\—Z) hIAZUAIK HM ORR RRO 50% REIS RE ME FIAEL OO MAR EE BRT Om LIVGREX—2%) <= LIVGEEHN—2) —O- BRERA (aA 2015 4A 2018S AA [20%] ow 220,000 | a | ar 200,000 200659AiG& [zore3 Aa | | 201343 RH | 180,000 160,000 140,000 120,000 100,000 80,000 LTV (S@4i<—Z) 60,000 40,000 20,000 )
Slide 40: Asset size trend
im ear Sa OTE (BA tt) ib A = Uy Ler MAOH 51,855 : a sma SAR ORE A AA ct 2 WN BA a= (MARIE EEF A - PAAR OR Az >) 48,478 43,026 46:50 37.648 37.927 40,761 42,812 31,804 34,087 96.923 29,407 200,000 _ 4777 1982024285 20878 554 [| l] 24,152 [] ] a a 9243 9138 07 | [ p66 6.522 | | 6486 5543 am 180,000 —
Slide 41: Occupancy rate trend
Ott Fe RHE LOeRORHB 3 -O-emy-iemeAGn =e LREITSeD (96) 100.0 99.7 Q 99.4 99.8\99.0 ie 92 993 99.5 99,5 99-6 99.6 94 4 09.2 em. 29-1 99.0 99.0 99-1 999 or 99.0 95.0 T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T 1 3308 Es] 378 Bo S118 1308 31505 B17 B19%4 3218 2308 B25HH 27H, #295 3104
Slide 42: Portfolio property list
ARUVY—NAFS4y (BRT LZ) a | MAS ttOME (2023 = 5 AHA) | Bett M7L—FOERRA DE t @ 85 i Sh PIT FR SN St KLAR 202 (8A FAG No. cae 3 eA RB UZ 1961447 A SBA 58 {8A 1 | eR RSRE IL 1970 15,160ni x # AMER (WAT AD) RAGA EE 104 (89 RA (CARMA R HA — 2B Cues 2,396 tPA 2 | +R BRBE IL 19705 44.762mi TERA HH 176% BCaAL