Kore Us Reit · SGX:CMOU
Kore Us Reit — Keppel Pacific Oak US REIT — Merger or Acquisition (July 2021)
38 slides from Kore Us Reit's merger presentation, July 2021
Slide 1: Acquisitions of Bridge Crossing in Nashville and 105 Edgeview in Denver
~. |Pagifie Oak US REIT y / Acquisitions of Bridge Crossing in Nashville, Tennessee and 105 Edgeview in Denver, Colorado
Slide 2: Content Outline / Important Notice
Content Outline * Transaction Overview 3 ° — US Office Market Overview 7 * Key Investment Highlights i * Summary 30 ° Additional Information 32 Important Notice The past performance of Keppel Pacific Oak US REIT is not necessarily indicative of its future performance. Certain statements made in this
Slide 3: Transaction Overview
Transaction Overview ,_ Bridge Crossing
Slide 4: Total Acquisition Cost and Method of Financing
* Estimated total acquisition cost of US$107.1m, comprising: - Aggregate purchase consideration: US$105.1m Total o Bridge Crossing: US$46.0m Acquisition Cost o 105 Edgeview: US$59.1m - Acquisition fee: US$1.1m - Other fees and expenses: US$0.9m Independent * USS$46.6 million * US$59.1 million faeren
Slide 5: Bridge Crossing, Nashville
Bridge Crossing, Nashville Location Nashville, Tennessee Submarket Brentwood Land Tenure Freehold Occupancy 100% WALE™ 5.7 years Net Lettable Area 199,194 sf No. of Tenants 2 . 2017 (Refurbished) Year Built Built in 1989 | J | Pro forma 7.8% Newly renovated.common NPI yield areas and elevator cabs :
Slide 6: Edgeview, Denver
105 Edgeview, Denver High quality Class A LEED Platinum bui Location Denver, Colorado Submarket Broomfield Land Tenure Freehold Occupancy 100% 0 “ Electric vehicle charging stations WALE™ 6.6 years Net Lettable Area 186,231 sf No. of Tenants 8 Year Built 2012 Pro forma NPI yield Ci Solar panels atop
Slide 7: US Office Market Overview
Slide 8: US Economy: Recovery Apace
US Economy: Recovery Apace Continued resumption of economic activity in 2021 * US Real GDP increased 6.4% q-o-q in 1Q 2021 reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic") * Unemployment rate was 5.9% in Jun
Slide 9: 47.6% 47.5% 47.3% 29.3% 27.2% 26.3% 25.6% 21.0% 20.2% 18.1% • • • •
47.6% 47.5% 47.3% 29.3% 27.2% 26.3% 25.6% 21.0% 20.2% 18.1% • • • •
Slide 10: Tech Continues to Lead in Office Leasing
Tech Continues to Lead in Office Leasing KORE’s focus on the historically fast-expanding tech sector will benefit the REIT 100 Largest US Office Leases by Tech Firms in 2020") Markets with Most Square Footage Leased Seattle Washington, D.C. Atlanta Austin Austin Atlanta Washington. Manhattan Seattle
Slide 11: Key Investment Highlights
Slide 12: Key Investment Highlights
Key Investment Highlights Deepens presence in key growth markets driven 1) by tech and innovation, which will enhance income resilience e Prime locations in key submarkets with limited upcoming supply DPU-accretive acquisitions that strengthen KORE?’s distributions and total Unitholder returns 4) Au
Slide 13: ❖ ❖ ❖ ❖ ❖ ❖
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Slide 14: Tech-focused Tenancies Providing Income Resilience
@ Tech-focused Tenancies Providing Income Resilience Curated exposure to the fast-growing tech sector which i st placed to benefit f post-pandemic disruption Tenant Sector Contribution by CRI Bridge Crossing 105 Edgeview Professional Services, 1.1% Finance and Insurance, 6.1% |/ Others, 8.2% Technol
Slide 15: Tech-focused Tenancies Providing Income Resilience
@ Tech-focused Tenancies Providing Income Resilience Majority of top 10 tenants are established tech companies Top 10 Tenants by CRI for Enlarged Portfolio * Low tenant concentration risk: KORE’s top 10 tenants uepi VerEnis weiaal contribute only 21.8% of CRI Comdata Inc Technology 3.3% . 5 * Majori
Slide 16: Enhances Portfolio Scale and Income Resilience
@ Enhances Portfolio Scale and Income Resilience Increases Portfolio Occupancy (%) Overall Tech-tenancy by CRI (%) Increases Portfolio Value (US$’m)(2) 1p? 91.2% +4898, BPP cas 90.5% *O OER A% x82, QW —«*A12 y ; ) | Existing Enlarged Existing Enlarged Existing Enlarged KT Pacific Oak US REIT (Inform
Slide 17: Increases Technology Sector Exposure for KORE's Portfolio
@ Increases Technology Sector Exposure for KORE’s Portfolio Increases KORE’s exposure to the fast-growing tech secto Existing Portfolio Professional Technology, Services, 26.4% 32.5% Medical and Healthcare, 9.0% @ Media and Information, 1.6% Finance and Others, Insurance, 9.5% 21.0% LGTL Pacific Oak
Slide 18: Well-Spread Lease Expiry Profile
@ Well-Spread Lease Expiry Profile Existing Portfolio 31.5% 31.7% Enlarged Portfolio 36.3% 35.7% 18.1% 17.6% 17.3% 17.0% 15.8% 45.49 14.2% 19,69 14.3% 15.1% tay 4% 14.3% : 14% 13.0% 12.6% i 114% I | | | iy | | | 2021 2022 2023 2024 2025 2026 and Beyond =ByNLA mByCRI LTT Pacific Oak US REIT (Informat
Slide 19: Strengthening Presence in Fast Growing States
@ Strengthening Presence in Fast Growing States Top 20 Fastest Growing States in the US from eaten Representation in KORE’s portfolio by CRI contribution 2010-2020) Population (%) Pre-Acquisitions (%) Post-Acquisitions (%) - Utah 18.4 Idaho 17.3 pes ests ES i 4 North Dakota 15. 8 5 Nevada 15.0 | 6 [
Slide 20: Strategic Entry into the Growing Tech Hub of Nashville
@ Strategic Entry into the Growing Tech Hub of Nashville Fl a, Bele)Meade (i) a The Nashville-Davidson-Murfreesboro Core Based Statistical Area (Nashville CBSA) is located on the Cumberland River in north central Tennessee between Knoxville and Memphis and is the largest metro area in the state Nash
Slide 21: Highly Desirable Brentwood Submarket
@ Highly Desirable Brentwood Submarket * Brentwood features some of Nashville's highest quality Brentwood submarket - Asking Rent (US$ psf) and Vacancy (%) properties with the most commercial property positioned between Old Hickory Boulevard and Murray Lane along the 36 12% 1-65 corridor 34 10.8% *
Slide 22: Bridge Crossing - Amenity Rich Location in Maryland Farms
@ Bridge Crossing - Amenity Rich Location in Maryland Farms x — ORACLE asurion)S HCA ‘Healtheare" AS ny LLEY QS INTERNTIONAL, Ss 9 & moma, [4 BRENTWOOD Bridge Crossing is located on the south side of Maryland Way, 1.5-miles southwest of the Interstate 65 interchange at Old Hickory Boulevard The loca
Slide 23: Deepen Presence in Denver with Second Asset
@ Deepen Presence in Denver with Second Asset |} pacene ort Cupto: re, } ae ee * Denver's growth drivers are mainly attributable = 1: to strong infrastructure, high quality of life, favorable demographics and consistent population growth Wattenberg ) Uofayette! Louis Se eaticow * The region benefits
Slide 24: Strong Fundamentals for Northwest Denver Submarket
@ Strong Fundamentals for Northwest Denver Submarket * Northwest Denver is the fourth largest submarket Northwest Denver Submarket - Class A Asking Rent (US$ psf) and Vacancy (%) in Denver with approximately 7.7m sf of rentable office space 27 25% * Due to its location between Denver and Boulder, an
Slide 25: Edgeview - Prime Location in Interlocken
@ 105 Edgeview - Prime Location in Interlocken * 105 Edgeviewis located within the 963-acre Interlocken Advanced Technology Campus, in the northwest sector of the Denver Metropolitan Area (DMA) in the City of Broomfield, which is approximately 13 miles northwest of Denver CBD + Interlocken Advanced
Slide 26: DPU-accretive acquisitions with prudent capital structure
© Creates Value for Unitholders through Accretive Acquisitions DPU-accretive acquisitions with prudent capital structure Pro forma DPU" Effects of the Acquisitions 6.28 Before the After the| oe Acquisitions Acquisitions} x0: Net Property 623 a Income (US$'000) 82,983 90,496 Distributable Income (US$
Slide 27: Further Diversifies Presence in Key Growth Markets
© Further Diversifies Presence in Key Growth Markets Extends KORE’s portfolio to nine key growth markets across the US Existing Portfolio Enlarged Portfolio Nashville Dallas 3.4% Dallas Orlando Seattle 350% 11.3% 38.7% Orlando 5.9% 10.5% Atlanta 5.5% Atlanta 5.1% Houston 9 Houston 13.5% 12.6% Sacram
Slide 28: Edgeview: Augments KORE's Green Footprint
© 105 Edgeview: Augments KORE’s Green Footprint & LEED Platinum-certified building x Clean & sustainable energy ts Built from Sustainable Materials Y One of the newest and highest vy Wind energy provides 35% of ¥ 35% of building’s materials have quality Class A buildings in power for the core and sh
Slide 29: Enhances Weightage in Current Indices and Positions for Further Index-Inclusions
Enhances Weightage in Current Indices and Positions for Further Index-Inclusions Listed on 9 Nov 2017 3Q 2021: Strategic Additions of * 68.7% growth in portfolio r] i Bridge Crossing, Nashville, and 105 Edgeview, Denver value since IPO ee fy Market Capt” Market Cap") Ae a . US$756.2 Portfolio value:
Slide 30: Summary
Slide 31: Strategic Additions of Bridge Crossing and Edgeview
Strategic Additions of Bridge Crossing and 105 Edgeview Deepens presence in key growth markets driven by tech and innovation, which will enhance income resilience Increase tech-focused tenant composition and industry exposure providing income stability and resilience First choice US office SREIT foc
Slide 32: Additional Information
Slide 33: Bridge Crossing: Property Snapshot
Bridge Crossing: Property Snapshot Bridge Crossing Location Address Land Tenure Occupancy WALE! Net Lettable Area Year Built Pro forma NPI yield Nashville, Tennessee 5301 Maryland Way, Brentwood, TN 37027 Freehold 100% 5.7 years 199,194 sf 1989 (refurbished in 2017) 7.8% [EQ Pacific Oak US REIT Info
Slide 34: Edgeview: Property Snapshot
105 Edgeview: Property Snapshot Location Address Land Tenure Occupancy WALE! Net Lettable Area Year Built Pro forma NPI yield Denver, Colorado 105 Edgeview Drive, Broomfield, CO 80021 Freehold 100% 6.6 years 186,231 sq ft 2012 6.7% [EQ Pacific Oak US REIT Information as at 30 June 2021. (1) Weighted
Slide 35: Asset Diversification by CRI Contribution
Asset Diversification by CRI" Contribution No single asset contributes more than 16.1% of CRI") Existing Portfolio One Twenty Five 5 The Plaza Buildings 10.9% 74% Maitland Promenade | & Il 11.3% Bellevue Technology Northridge Center | & I! Centre 3.2% a= 8.1% Powers Ferry = 2.3% Westpark Bellaire Pa
Slide 36: Trust Structure
Trust Structure VY Tax-efficient structure for holding US properties No US corporate tax (21%) and US withholding tax (30%) + No Singapore corporate tax (17%) and Singapore withholding tax (10%) * Subject to limited tax v Leverage Sponsors' expertise and resources to optimise returns for Unitholders
Slide 37: Strong Sponsors: Keppel Capital and Pacific Oak Capital Advisors
Strong Sponsors: Keppel Capital and KORE Pacific Advisors Cry) Capital AR crc onl = ¢ Asset management arm of Keppel Corporation ¢ Established commercial real estate investment manager in and a premier manager in Asia the US + US$28 billion” + US$4.0 billion Global assets under management as at end-
Slide 38: Our Sustainability Commitment / Thank You
OUR SUSTAINABILITY COMMITMENT Thank You . . We place sustainability at the heart of our strategy and are committed to For more information, delivering sustainable distributions and strong total returns for Unitholders. please visit www.kor Connect with us on: ‘in| RESPONSIBLE BUSINESS The long-term
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