Slide 1: 1Q 2025 Investor Presentation
1Q 2025 Investor Presentation May 2025
Slide 2: 1Q 2025 Key Messages
1Q 2025 Key Messages 1 Consistent growth • Revenues of P2.9B (+38%); EBITDA of P2.1B (+42%) from stable operations • Net income of P2.1B (+43%), excluding net fair value change and acquisitions • Overall occupancy of 99%; WALE of 20.5 years (3.7 years for Offices) 2 • Low net gearing at 0.02:1 with
Slide 3: 1Q 2025 Highlights
1Q 2025 Highlights TOTAL REVENUES1 EBITDA1 NET INCOME2 P2.9B +38% P2.1B +42% P2.1B +43% OCCUPANCY NET DEBT AUM (Assets under 99% P1.9B Management) Borrowing Cost of 5.67% 6.06% of Deposited Property Value P117.3B GLA 3.9m sqm +324% NET GEARING DPS Building 1.0m sqm +23% Land 2.9m sqm 0.02:1 P0.58 1
Slide 4: 1Q 2025 Financials (Fair Value Model)
FY 2024 Financials (Fair Value Model) Revenues of P2.9B (+38%); Net Income of P2.1B* (+43%) Income Statement 1Q 2025 1Q 2024 Change % (In Php millions) Total Revenues 2,921 2,112 809 38% • Higher Revenues and EBITDA DOE and GAE (779) (602) (117) 29% driven by the new assets with EBITDA 2,142 1,520 6
Slide 5: Quarterly P&L Highlights
Quarterly P&L Highlights Stable quarter-on-quarter performance 3,137 2,369 2,344 • Excluding incremental PAS 275 2,921 275 2,142 275 2,098 adjustment in 4Q 2024, revenues, EBITDA and NIAT are stable quarter-on- quarter 2,862 2,094 2,069 4Q 2024 1Q 2025 4Q 2024 1Q 2025 4Q 2024 1Q2025 Revenue EBITDA N
Slide 6: Higher occupancy and healthy WALE
Higher occupancy and healthy WALE Asset Type GLA (in sqm) Occupancy WALE Years Occupancy Rate: 99% Building 1,034,549 (27%) 97% Offices 3.7 Offices 639,786 (16%) 96% • Office occupancy rate improved to Overall 20.5 Hotel 83,511 (2%) 100% 96% from 95% in 4Q24 due to higher Retail 311,252 (8%) 99% occ
Slide 7: Healthy balance sheet with a net gearing of 0.02:1
Healthy balance sheet with a net gearing of 0.02:1 Balance Sheet March December • Total Borrowings and Deferred (in Php Millions) 2025 2024 Payments are 6.06% of the Cash & Receivables 4,481 4,165 Deposited Property Value, well Total Assets 123,377 123,223 within the 35% aggregate leverage limit Tot
Slide 8: Declaration of 1Q 2025 Cash Dividends
Declaration of 1Q 2025 Cash Dividends • P0.58 per share for 3,209,865,985 outstanding common shares • Cash dividends will be paid on June 11, 2025, to stockholders of common shares as of the record date May 27, 2025.
Slide 9: 2025: Catalyzing AREIT's Growth
2025: Grow AREIT Assets Under Catalyzing Management (AUM) AREIT’s Growth Diversify AREIT’s asset portfolio in terms of sector and location Dividend Accretion in all asset acquisitions 9
Slide 10: AREIT has grown significantly since its IPO
AREIT has grown significantly since its IPO AUM has grown ~4x to P117B in 2024 since the IPO 2020 IPO Today +290% 117 87 AUM: P27B 4x growth AUM: P117B 64 54 Revenues: 4x growth Revenues: P2.04B P10.26B 30 100% offices 99% occupancy Mix of offices, malls, maintained with hotels, and industrial high-
Slide 11: AREIT today has a portfolio of 3.9m sqm GLA and an AUM of P117B
AREIT today has a portfolio of 3.9m sqm GLA and an AUM of P117B 2020 Infusions 2021 Infusions IPO Portfolio BPI-Philam Life Bacolod Capitol Ayala Northpoint Makati & Alabang Negros Occidental Negros Occidental Solaris One Ayala North Exchange McKinley Exchange Makati Makati Makati Vertis North One E
Slide 12: AREIT today has a portfolio of 3.9m sqm GLA and an AUM of P117B
AREIT today has a portfolio of 3.9m sqm GLA and an AUM of P117B 2022 – 2023 Infusions 2024 Infusions eBloc 1, 2, 3 and 4 ACC Tower Tech Tower 1 Cebu Cebu Cebu ATG Tower 2 Greenbelt 3 and 5 Holiday Inn Makati Makati Makati Glorietta 1 and 2 Mall & BPO MarQuee Mall One Ayala East and Makati Pampanga W
Slide 13: 2025 Infusions valued P21B: Cebu Properties (P10.8B)
2025 Infusions valued P21B: Cebu Properties (P10.8B) Central Bloc Office 1 Central Bloc Office 2 Central Bloc Mall Seda Central Bloc GLA (in sqm) 28,483 38,633 70,956 13,997 Occupancy 95% 97% 100% 100% WALE (as of Jan 2025) 3.3 years 3.6 years 25 years 25 years Valuation (in Php millions) 2,262 2,66
Slide 14: 2025 Infusions valued P21B: Davao & CDO Properties (P10.2B)
2025 Infusions valued P21B: Davao & CDO Properties (P10.2B) Abreeza Mall Abreeza BPO Centrio Mall Centrio BPO Location Davao Davao Cagayan de Oro Cagayan de Oro GLA (in sqm) 97,571 9,214 92,707 9,053 Occupancy (upon infusion) 100% 98% 100% 100% WALE (as of Jan 2025) 25 years 3.3 years 25 years 5.5 y
Slide 15: Diversified portfolio of high-quality commercial buildings
Diversified portfolio of high-quality commercial buildings AUM Breakdown by Sector Industrial Land Hotel Improved portfolio sector Retail 7% 7% diversification 11% Retail 19% • Increase retail exposure Hotel Office given continued 100% P27B 6% P117B P138B Industrial Land consumer spending Office 6%
Slide 16: AREIT continues its track record of sustainable growth and strong foundations
AREIT continues its track record of sustainable growth and strong foundations FY 2024 REVENUES P10.3B +44% NET INCOME P7.4B +49% TSR 20%
Slide 17: The upcoming asset acquisition will bring AREIT's AUM to P138B
The upcoming asset acquisition will bring AREIT’s AUM to P138B 2025 Infusion P21B GLA post-infusion 4.3m sqm +9% Building 1.4m sqm +35% Land 2.9m sqm
Slide 18: AREIT remains committed to maintaining its market leadership
AREIT remains committed to maintaining its market leadership 1 2 3 US$3 billion in AUM Ayala Land as Sponsor PSEi Inclusion To be at par with major Access to deep pipeline First REIT in the country to be included regional REITs of properties in the main index
Slide 19: Our commitment is to continue growing our AUM by PhP 15-20 billion annually
Our commitment is to continue growing our AUM by PhP 15-20 billion annually, diversify our portfolio across asset types and geographies, and create long-term value for stakeholders.
Slide 20: 1Q 2025 Investor Presentation
1Q 2025 Investor Presentation May 2025