Sunway Real Estate Investment Trust · MYX:SUNREIT
Sunway Real Estate Investment Trust — Q2 2026 Earnings Presentation
42 slides from Sunway Real Estate Investment Trust's earnings presentation, Aug 12, 2026
Slide 1: Financial Results Second Quarter Ended 30 June 2026
FINANCIAL RESULTS Second Quarter Ended 30 June 2026 (FYE 31 December 2026) Date : 12 August 2026 0
Slide 2: Table of Contents
Table of Contents 1. Financial Highlights (Q2 2026) 2. Financial Results (Q2 2026) 3. Segmental Financial Results (Q2 2026) 4. Property Development Activities (YTD Q2 2026) 5. Market Outlook (Q2 2026) 6. Investor Relations (Q2 2026) Appendix I – Property Performance Empowering Businesses • Curating
Slide 3: Financial Highlights (Q2 2026)
FINANCIAL HIGHLIGHTS (Q2 2026) 2
Slide 4: Distribution Per Unit (DPU)
Distribution Per Unit (“DPU” ) DPU (sen) Details of Income Distribution Distribution Period 1 January 2026 - 30 June 2026 Distribution Per Unit (DPU) (sen) 6.28 Notice of Entitlement 12 August 2026 Ex-Dividend Date 27 August 2026 Book Closure Date 28 August 2026 Payment Date 11 September 2026 DPU fo
Slide 5: 6-Years DPU
6-Years DPU 5-Year DPU CAGR Distribution Yield 15.8% 5.7% (Based on FP2021 DPU of 6.10 sen) (Based on unit price of RM2.21 as at 30 June 2026 with FY2026 annualised DPU of 12.68 sen) Empowering Businesses • Curating Experiences • Enriching Lives 4
Slide 6: Financial Highlights – Q2 2026 vs Q2 2025
Financial Highlights – Q2 2026 vs Q2 2025 Highlights Q2 2026 Q2 2025 No. of Properties 28 @ 28 Property Value (RM'billion) 10.303 10.650 Units in Circulation 3,424,807,700 3,424,807,700 Unit Price as at end of the month (RM) 2.21 2.10 # Market Capitalisation (RM'billion) 7.569 7.192 Net Asset Value
Slide 7: Financial Highlights Q2 2026 vs Q2 2025 (QTD & YTD)
Financial Highlights Q2 2026 vs Q2 2025 (QTD & YTD) Reported in RM’000 Q2 YoY YTD Variance Variance YTD Q2 2026 vs YTD Q2 2025 Higher Revenue primarily contributed by stronger performance from the retail segment (+RM33.8m) including contribution 3.0% from AEON Mall Seri Manjung acquired in Q3 YTD 44
Slide 8: Financial Results (Q2 2026)
FINANCIAL RESULTS (Q2 2026) 7
Slide 9: Statement of Comprehensive Income – Consolidated
Statement of Comprehensive Income – Consolidated Q2 2026 Q2 2025 Change YTD 2026 YTD 2025 Change 1. NPI for YTD Q2 2026 was higher compared to YTD Q2 2025 RM'000 RM'000 % RM'000 RM'000 % primarily due to strong performance from the retail Revenue 220,348 211,398 4.2% 443,356 430,260 3.0% segment inc
Slide 10: Statement of Financial Position – Consolidated
Statement of Financial Position – Consolidated 30 June 2026 31 Dec 2025 30 June 2026 31 Dec 2025 (Unaudited) (Audited) (Unaudited) (Audited) RM'000 RM'000 RM'000 RM'000 Assets Number of units in circulation ('000) 3,424,808 3,424,808 Non-current assets Investment properties 10,243,002 1 10,185,943 N
Slide 11: Statement of Cash Flows – Consolidated
Statement of Cash Flows – Consolidated Cumulative Quarter ended 30.06.2026 30.06.2025 1. Net cash from operating activities for YTD Q2 2026 of RM260.0 million was lower compared to NPI less trust RM'000 RM'000 expenses of RM297.4 million, mainly due to advance Cash flows from operating activities re
Slide 12: Financing Profile as at 30 June 2026
Financing Profile as at 30 June 2026 Facility Limit Utilised Amount RM'mil RM'mil Revolving Loan (USD) 305.4 233.1 1 Revolving Credit (USD) 285.0 296.7 1 Commercial Paper 3,000.0 70.0 Unrated MTNs 2,060.0 2 10,000.0 Rated MTNs 130.0 2 Total Current Borrowings 2,789.8 Rated MTNs 400.0 10,000.0 Unrate
Slide 13: Financing Profile as at 30 June 2026 (Cont'd)
Financing Profile as at 30 June 2026 (Cont’d) Empowering Businesses • Curating Experiences • Enriching Lives 12
Slide 14: Segmental Financial Results (Q2 2026)
SEGMENTAL FINANCIAL RESULTS (Q2 2026) 13
Slide 15: Retail Segment: Q2 2026
Retail Segment : Q2 2026 Retail Revenue Retail NPI 11% RM 177.1 million (Q2 2026) 14% RM 130.4 million (Q2 2026) vs RM 160 .0million (Q2 2025) vs RM 114.1 million (Q2 2025) RM 17.1 million Variance RM 16.3 million Variance Retail segment continued to deliver revenue growth in Q2 2026, underpinned by
Slide 16: Retail Segment: Q2 2026 (Cont'd)
Retail Segment : Q2 2026 (Cont’d) Regional Malls Neighbourhood Super-Regional Malls Big-Box Retail Malls Local & Population within Population within 20km Population within 10km Target market & international tourists 50km net lettable area NLA > 1 million sq.ft. NLA > 500,000 sq.ft. NLA > 250,000 sq.
Slide 17: Hotel Segment: Q2 2026
Hotel Segment : Q2 2026 Hotel Revenue Hotel NPI 0.28 RM 18.1 million (Q2 2026) RM 17.0 million (Q2 2026) 8% vs RM 16.7 million (Q2 2025) 9% vs RM 15.6 million (Q2 2025) RM 1.4 million Variance RM 1.4 million Variance Hotel segment recorded a commendable improvement in revenue and NPI for Q2 2026, dr
Slide 18: Office Segment: Q2 2026
Office Segment : Q2 2026 Office Revenue Office NPI RM 20.4 million (Q2 2026) -1% RM 12.1 million (Q2 2026) vs RM 20.4 million (Q2 2025) vs RM 12.2 million (Q2 2025) RM 0 million Variance RM -0.1 million Variance Revenue and NPI for Office segment remained largely stable in Q2 2026, supported by a st
Slide 19: Industrial & Others Segment: Q2 2026
Industrial & Others Segment : Q2 2026 Industrial & Others Revenue Industrial & Others NPI 5% RM 4.7 million (Q2 2026) 12% RM 3.6 million (Q2 2026) vs RM 4.5 million (Q2 2025) vs RM 3.2 million (Q2 2025) RM 0.2 million Variance RM 0.4 million Variance Industrial & Others segment recorded improved rev
Slide 20: Key Performance Indicators YTD Q2 2026 / YoY %
Key Performance Indicators YTD Q2 2026 / YoY % RETAIL 1 HOTEL 2 OFFICE 3 Occupancy Occupancy - Rooms = = YTD Q2 2026: 60% Average YTD Q2 2026: 98% YTD Q2 2025: 60% Occupancy gross rent YTD Q2 2025: 98% FY2025: 65% FY2025: 97% +1 % +1 % Occupancy - Banquet YTD Q2 2026: 83% YTD Q2 2025: 82% +5 % FY202
Slide 21: Property Development Activities (YTD Q2 2026)
PROPERTY DEVELOPMENT ACTIVITIES (YTD Q2 2026) 20
Slide 22: Property Development Activities
Property Development Activities New Sunway Hotel Sunway Pier Seberang Jaya Estimated total property development cost RM462 million #1 RM140 million #2 Cumulative cost incurred from initiation to Q2 2026 RM121 million RM9 million Expected completion H2 2028 H2 2027 NLA (sq. ft.) / Number of Hotel Roo
Slide 23: Market Outlook (Q2 2026)
MARKET OUTLOOK (Q2 2026) 22
Slide 24: General Outlook – Key Economic Indicators
General Outlook – Key Economic Indicators Indicators 2026 (F) Q2 2026 Q1 2026 2025 2024 2023 2022 Gross Domestic Product 4.0% - 5.0% 5 5.8% 3 5.4% 5.2% 5.1% 3.7% 8.7% (GDP) (YoY) Consumer Price Index (CPI) 1.5% to 2.5% 5 1.9% 2 1.6% 1.4% 1.8% 2.5% 3.3% (YoY) Overnight Policy Rate (OPR) 2.75% 4 2.75%
Slide 25: General Outlook
General Outlook General Outlook Malaysia’s economy is expected to remain resilient in 2026, supported by sustained domestic demand, continued investment activities and the implementation of key infrastructure projects. The country’s position as a preferred investment destination is expected to suppo
Slide 26: Segmental Outlook - Retail
Segmental Outlook - Retail Retail Segment (2025 Contribution : 75%) Retail Group Malaysia ("RGM") has revised its retail sales growth forecast for 2026 to 3.8% from 4.0% projected earlier, following weaker-than-expected retail performance in the first quarter and continued uncertainty arising from t
Slide 27: Segmental Outlook - Hotel
Segmental Outlook - Hotel Hotel Segment (2025 Contribution : 11%) The outlook for the Hotel segment remains positive, underpinned by Visit Malaysia Year 2026, Malaysia Year of Medical Tourism 2026 and continued growth in international visitor arrivals. Malaysia welcomed a record 10.65 million intern
Slide 28: Segmental Outlook - Office
Segmental Outlook - Office Office Segment (2025 Contribution: 9%) The Malaysian office market—particularly in Greater Kuala Lumpur—is experiencing a pronounced "flight to quality" where corporate tenants are increasingly favouring modern, ESG-compliant, and well- connected Grade A buildings. This st
Slide 29: Segmental Outlook – Industrial
Segmental Outlook – Industrial Industrial & Others Segment (2025 Contribution: 2%) In line with growing investments in Malaysia, demand for industrial properties is expected to remain strong. Under the New Industrial Master Plan (NIMP) 2030 and the National Energy Transition Roadmap (NETR), there wi
Slide 30: Investor Relations (Q2 2026)
INVESTOR RELATIONS (Q2 2026) 29
Slide 31: Unit Price Performance from IPO to Q2 2026
Unit Price Performance from IPO to Q2 2026 Unit Price Performance of Sunway REIT versus Benchmarks (8 July 2010 – 30 June 2026) Sunway REIT +145.6% FBM Top 100 Index +41.1% FBM KLCI +26.4% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Performance Statistics IPO to Q
Slide 32: Unitholders' Composition (as at 30 June 2026)
Unitholders’ Composition (as at 30 June 2026) Foreign Retail 12.8% 6.3% Sunway Berhad 40.9% Institutions & Domestic Corporates 87.2% 52.8% June 2026 March 2026 Q-o-Q Change No. of unitholders 37,499 36,912 1.6% (+587) Retail unitholdings 6.3% 6.5% -0.2% Foreign unitholdings 12.8% 13.2% -0.4% Sunway
Slide 33: Analyst Recommendation (as at June 2026)
Analyst Recommendation (as at 30 June 2026) Target Price as at Upside / Downside to unit price as at 30 Jun 2026 (RM) 30 Jun 2026 (%) 31.2 26.7 26.2 24.4 22.2 21.3 17.6 13.1 12.2 12.2 10.9 10.9 10.9 8.1 4.5 2.90 2.80 2.75 2.45 2.39 2.31 1.90 2.79 2.70 2.68 2.60 2.50 2.48 2.48 2.45 2.45 2.10 (5.0) (1
Slide 34: Comparative Yields for Various Assets
Comparative Yields for Various Assets (as at 30 June 2026) 6.15%5 5.74%1 5.80%2 3.60%3 2.75%6 1.95%4 Sunway REIT M-REITs 10-Year MGS Fixed Deposit EPF Yield OPR Note: 1 Distribution yield is computed based on annualised distributable income of 12.68 sen per unit and unit price of RM2.21 as of 30 Jun
Slide 35: Appendix I: Property Performance (YTD Q2 2026 YoY Analysis)
APPENDIX I: PROPERTY PERFORMANCE (YTD Q2 2026 YoY Analysis) 34
Slide 36: Average Occupancy Rate (YTD Q2 2026) – Retail
Average Occupancy Rate (YTD Q2 2026) RETAIL N/A Retail segment's average occupancy rate remained resilient at 99% for YTD Q2 2026, supported by full occupancy at Sunway REIT’s Hypermarkets and newly acquired AEON Mall Seri Manjung, as well as strong occupancy rates across the rest of the retail port
Slide 37: Projected Lease Expiry Schedule – Retail
Projected Lease Expiry Schedule RETAIL WALE = 2.1 years Sunway Pyramid Sunway Carnival Sunway Putra Sunway 163 Sunway Kluang Mall Mall Mall Mall Mall Based on the total Based on the total NLA Based on the total Based on the total NLA Based on the total NLA net lettable area of 198,228 sq. ft. due NL
Slide 38: Average Occupancy Rate (YTD Q2 2026) – Hotel
Average Occupancy Rate (YTD Q2 2026) WALE = 4.2 years HOTEL Hotel segment recorded an average occupancy rate of 60% for YTD Q2 2026, largely contributed by Sunway Putra Hotel and Sunway Hotel Seberang Jaya, attributed to group bookings from China and India and demand from medical travellers associat
Slide 39: Average Occupancy Rate (YTD Q2 2026) – Office
Average Occupancy Rate (YTD Q2 2026) OFFICE Office segment recorded a marginal improvement in average occupancy rate of 1% in YTD Q2 2026, driven by improved occupancy at Sunway Putra Tower. Leasing momentum continued to gain traction, with Sunway Putra Tower achieving committed occupancy of 87% and
Slide 40: Projected Lease Expiry Schedule – Office
Projected Lease Expiry Schedule OFFICE WALE = 1.5 years Menara Sunway Sunway Putra Wisma Sunway Sunway Tower Tower Sunway Pinnacle Based on total NLA Based on total NLA of Based on total NLA of Based on total NLA of Based on total NLA of of 45,714 sq. ft. due 21,788 sq. ft. due for 113,705 sq. ft. d
Slide 41: Average Occupancy Rate (YTD Q2 2026) – Industrial & Others
Average Occupancy Rate (YTD Q2 2026) INDUSTRIAL & OTHERS WALE = 4.2 years Secured occupancy at Sunway REIT Industrial – Petaling Jaya 1 stood at 78% as at 30 June 2026. Empowering Businesses • Curating Experiences • Enriching Lives 40
Slide 42: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Sunway Real Estate Investment Trust (“Sunway REIT”) and no part of it shall form the basis of, or be relied on in conn
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