Slide 1: 1Q 2026 Key Business and Operational Updates
1Q 2026 Key Business and Operational Updates 21 April 2026
Slide 2: Content
Content 1. 1Q 2026 Key Highlights – Pg 3 4. Market Review – Pg 16 2. Financial Highlights 5. Additional Information – Pg 5 – Pg 22 3. Portfolio Review – Pg 9 255 GEORGE STREET, SYDNEY 2
Slide 3: 1Q 2026 Key Highlights
1Q 2026 Key Highlights • The Singapore portfolio remained a key contributor to the overall performance supported by positive rental reversions and the additional one-third stake in MBFC Tower 3, acquired in Dec 2025. • NPI increase was due mainly to the contributions from Top Ryde City Shopping Cent
Slide 4: 1Q 2026 Key Highlights
1Q 2026 Key Highlights High Portfolio Strong Long Proactive Committed Occupancy Rental Reversion Portfolio WALE(1) Leasing Strategy 97.1 % 17.2 % 4.4 >450k sf years vs 96.7% as at for 1Q 2026 of leases committed 31 Dec 2025 in 1Q 2026 $ (1) Based on attributable committed gross rent. © Keppel REIT 4
Slide 5: Financial Highlights
02 Financial TOP RYDE CITY SHOPPING CENTRE, SYDNEY Highlights 5
Slide 6: Higher NPI and Share of JV Results Driven by Contribution from Top Ryde City
Higher NPI and Share of JV Results Driven by Contribution from Top Ryde City Shopping Centre and MBFC Tower 3 Additional Interest • Property Income and NPI increased due mainly to contributions from Top Ryde City Shopping Centre and increased occupancy at Ocean Financial Centre • Share of results of
Slide 7: Disciplined Capital Management
Disciplined Capital Management • AUD, KRW and JPY denominated loans formed ~18%, ~2% and ~2% of total borrowings(1) respectively • Sustainability-focused funding constituted 79% of total borrowings(1) As at 31 Mar 2026 Weighted Average Cost of Debt 3.16% p.a. Weighted Average Cost of Debt, excluding
Slide 8: Well-Spread Debt Maturity Profile
Well-Spread Debt Maturity Profile • For debt due in 2026, ~27% will be due in 2Q 2026 and the remaining ~73% in 2H 2026. • Documentation underway for refinancing of loans due in 2Q 2026. In advanced discussions with lenders for debt due in 2H 2026. Debt Maturity Profile (As at 31 March 2026) 9% 17%
Slide 9: Portfolio Review
03 Portfolio MARINA BAY FINANCIAL CENTRE, SINGAPORE Review 9
Slide 10: Diversified Portfolio of Prime Commercial Assets
Diversified Portfolio of Prime Commercial Assets Tokyo 14 Assets | AUM: $11.8b Seoul Interest Occupancy Seoul T Tower 99.4% 92.1% Portfolio by Region Tokyo Interest Occupancy Singapore 78.9% KR Ginza II 98.5% 85.5% Australia 18.1% South Korea 2.3% Japan 0.7% Singapore Interest Occu- pancy Ocean Fina
Slide 11: Performance Breakdown by Geography
Performance Breakdown by Geography Singapore Portfolio North Asia Portfolio 1Q 2026 81.0 1Q 2026 3.4 Attributable NPI(1) 22.0% Attributable NPI(1) - 5.5% (S$m) (S$m) 1Q 2025 66.4 1Q 2025 3.6 1Q 2026 97.9 1Q 2026 91.2 Committed Occupancy Committed Occupancy (%) (%) 4Q 2025 96.5 4Q 2025 100.0 Australi
Slide 12: 1Q 2026 Portfolio Performance
1Q 2026 Portfolio Performance (By Attributable Committed Gross Rent) Leases Committed by Geography(1) Leases Committed by Type(1) As at 31 Mar 2026 Australia, New, 25.3% Singapore, By Attributable By Attributable 50.5% 97.1% Committed Committed Portfolio committed 74.7% Gross Rent Renewal, Gross Ren
Slide 13: Well-Staggered Lease Expiry Profile
Well-Staggered Lease Expiry Profile • Average signing rent for Singapore office leases(1) concluded in 1Q 2026 was $13.26 psf pm, supported by healthy demand from diverse sectors for prime office space • Average rent of expiring leases for Singapore office leases(2) (psf pm): $11.98 in 2026, $11.49
Slide 14: Diversified and Established Tenant Base
Diversified and Established Tenant Base (By Attributable Committed Gross Rent) • Keppel REIT has a diversified tenant base of 702(1) • Top 10 tenants, mainly established blue-chip tenants corporations and government agencies, contribute 29.0% of attributable committed gross rent Top 10 Tenants Tenan
Slide 15: ESG Activities in 1Q 2026
ESG Activities in 1Q 2026 In January, Keppel Bay Tower and Ocean Financial Centre collaborated with the Health Promotion Board to conduct simple fitness assessment for our tenants, to raise awareness of physical health and encourage healthier habits In March, art canvas workshops were conducted at K
Slide 16: Market Review
ONE RAFFLES QUAY, SINGAPORE 04 Market Review 16
Slide 17: Singapore Office Market
Singapore Office Market • Core CBD (Grade A) office rents increased to $12.40 psf pm with occupancy in CBD Core (Grade A) increased to 96.7% in 1Q 2026 Core CBD (Grade A) Occupancy and Rent Demand and Supply (million sf) 2.2 0.8 0.8 95.8% 96.5% 96.7% 0.5 0.6 0.4 0.5 $15 95.5% 95.1% 95.5% 100% 0.2 0.
Slide 18: Australia Office Market
Australia Office Market 1,800 88.6% 85.3% 84.1% 83.6% 83.9% 84.2% 85.5% 85.6% 86.7% 100% 79.9% 84.0% 76.7% 82.1% 83.6% 84.0% 83.5% Sydney CBD 1,500 80% North Sydney 1200 72.4% 72.1% 100% 90% 80% 1,038 1,048 1,067 1,084 1,126 1,200 993 70% 919 955 60% 900 651 670 693 671 675 661 660 673 694 60% 900 8
Slide 19: Australia Retail Market
Australia Retail Market Feb 2026 Seasonally Adjusted | billions 2018 2019 2022 2023 2024 2025 YTD Discretionary Household Spending A$426 A$424 A$518 A$562 A$573 A$596 A$102 Non-Discretionary Household A$233 A$237 A$274 A$296 A$310 A$327 A$56 Spending Total Household Spending A$658 A$661 A$792 A$858
Slide 20: Seoul Office Market
Seoul Office Market • CBD Grade A occupancy increased to 93.1% in 1Q 2026 CBD Grade A Rent and Occupancy 97.0% 98.5% 96.6% 97.0% 95.6% 200,000 91.5% 91.5% 93.1% 100.0% 89.2% 90.0% 160,000 145,742 148,574 152,138 152,869 155,026 157,946 80.0% 133,152 70.0% 121,356 120,000 60.0% 98,926 50.0% 80,000 40
Slide 21: Tokyo Office Market
Tokyo Office Market • Occupancy in Tokyo central 5 wards continues to be high in 1Q 2026 for Grade A office at 99.3% and Grade B office at 98.8% Tokyo Central 5 Wards Grade A Rent and Occupancy Tokyo Central 5 Wards Grade B Rent and Occupancy 99.1% 99.3% 99.3% 97.8% 97.7% 98.2% 98.0% 98.5% 98.8% 100
Slide 22: Additional Information
2 BLUE STREET, SYDNEY 05 Additional Information 22
Slide 23: Continued Focus on ESG Excellence to Attract Quality Tenants
Continued Focus on ESG Excellence to Attract Quality Tenants ESG Benchmarks • ISS Governance Risk Rating maintained at lowest risk level of “1” and ESG Corporate Rating maintained at “Prime” status Sustainability- • Global Real Estate Sustainability Benchmark (GRESB) – Green Star status; ‘A’ rating
Slide 24: Portfolio Information: Singapore
Portfolio Information: Singapore As at Ocean Financial Centre Marina Bay Financial Centre(4) One Raffles Quay Keppel Bay Tower 31 Mar 2026 Attributable NLA 697,028 sf 1,460,633 sf 442,138 sf 386,223 sf Ownership 79.9% 33.3%(5), 66.7%(6) 33.3% 100.0% The Executive Centre, DBS Bank, TikTok, Keppel, Pr
Slide 25: Portfolio Information: Australia, South Korea & Japan
Portfolio Information: Australia, South Korea & Japan As at 8 Chifley 2 Blue Pinnacle Top Ryde City 8 Exhibition Victoria David Malcolm 255 George T Tower, KR Ginza II, 31 Mar 2026 Square, Street, Office Park, Shopping Street , Police Centre, Justice Centre, (3) Street, Sydney Seoul Tokyo Sydney Syd
Slide 26: 1Q 2026 Portfolio Performance
1Q 2026 Portfolio Performance (By Attributable Committed NLA) Leases Committed by Geography (1) Leases Committed by Type (1) As at 31 Mar 2026: New, By 57.9% 97.1% Attributable Portfolio committed Singapore, Australia, Committed occupancy By NLA 62.9% Attributable 37.1% Renewal, Committed 42.1% NLA
Slide 27: Diversified and Established Tenant Base
Diversified and Established Tenant Base (By Attributable Committed NLA) • Keppel REIT has a diversified tenant base of 702(1) • Top 10 tenants occupy 30.5% of attributable committed tenants NLA Top 10 Tenants Tenant Business Sector % State of Victoria 7.3% Banking, insurance and financial services 2
Slide 28: Committed to Delivering Stable Income & Sustainable Returns
Committed to Delivering Stable Income & Sustainable Returns Portfolio Optimisation • Improve yield by enhancing Keppel REIT’s portfolio of quality assets Portfolio through strategic acquisitions and divestments Optimisation • Provide income stability and long-term capital appreciation of portfolio,
Slide 29: Well-Executed Portfolio Optimisation Strategy
Well-Executed Portfolio Optimisation Strategy Acquired Acquired - Pinnacle Office Park (100%), $11.8b Listed on SGX Victoria Police Centre (50%), Sydney >$600m Acquired Melbourne - Keppel Bay Tower (100%), Portfolio - 8 Chifley Square (50%), Sydney Portfolio Value - Ocean Financial Centre Divested S
Slide 30: Thank you
Thank you 30
Slide 31: Important Notice
Important Notice IMPORTANT NOTICE: The past performance of Keppel REIT is not necessarily indicative of its future performance. Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking” statements due to a number of risks, uncertain