Prime US REIT · SGX:OXMU
Prime US REIT — Q1 2020 Earnings Presentation
26 slides from Prime US REIT's earnings presentation, 2020
Slide 1: Prime US REIT 1Q 2020
S REIT
Slide 2: Important Notice
Important Notice This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assump
Slide 3: Contents
Contents * Key Highlights * Operational Update * Portfolio Update * Appendix = PRIME a US REIT 10 17
Slide 4: 1Q 2020 Key Highlights
1Q 2020 Key Highlights One Washingtonian Centre, Suburban Maryland
Slide 5: 1Q 2020 Key Highlights
1Q 2020 Key Highlights Completed Accretive Acquisition of Park Tower for US$165.5 million Bub + AUM increased 13.6% to US$1.42 billion’, adding new market and broader industry sector diversification Net Property Income (NPI) Outperformed Projection2 by 6.7% Driven by contribution from Park Tower acq
Slide 6: Operational Update
Operational Update
Slide 7: Distributable Income Outperformed Projection by 12.9%
Distributable Income Outperformed Projection by 12.9% 1Q 2020 1 January 2020 to 31 March 2020 i PeESos | vance Gross Revenue 35,060 33,681 +41 Net Property Income 23,512 22,044 +6.7 Distributable Income 17,601 15,592 +12.9 45 PRIME — & wieuatessuevenee $US REIT
Slide 8: Built-in Rental Escalation (1%-3%)
2% 98% Built-in Rental Escalation (1%-3%) Others
Slide 9: Proactive and Prudent Capital Management
Proactive and Prudent Capital Management + Fixed interest cost on 89.1% of debt removes near term interest rate risk * No refinancing required until 2024! + Manager reviewing options to lower fixed rate interest cost * Debt covenant compliance with significant buffer Debt Maturity Profile’ Breakdown
Slide 10: Portfolio Update
Portfolio Update WEES OSS AS SAAC GN SO
Slide 11: Proactive Lease Management
Proactive Lease Management * Strong leasing activity in 1Q 2020 despite 1.3% 4.9 yrs 6.3% COVID-19 - . . by cRi of WALE Positive rental * 3 new leases, 2 renewals and 1 expansion signed Portfolio leased reversion _ : in 1a 2020 * Majority of tenants paying rent on time Stable Portfolio Lease Expiry
Slide 12: Resilience Through Diversity
Resilience Through Diversity No single market contributing more than 10 Primary Markets y 13.5% of total CRI Geographic Diversification’ No single asset makes up more than 12 Assets 15.5% of portfolio CRI? by Primary Market Sacramento San Francisco Bay Area (Oakland) 9.4% 8.6% Atlanta 12.8% Salt Lak
Slide 13: Strong Absorption Has Continued To Push Rental Rates Upward
Strong Absorption Has Continued To Push Rental Rates Upward San Office Market SaltLake Denver, StLouis, Dallas, Antonio, Philadelphia, Suburban Suburban Atlanta, Indicators City,Utah Colorado Missouri ‘Texas Texas Pennsyivania Maryland Virginia Georgia Vacancy Rate Q4 2018 13.1% 12.1% 11.8% 15.2% 12
Slide 14: Tenant Diversification: Quality Mix In Growing Sectors
Tenant Diversification: Quality Mix In Growing Sectors CRI? by Trade Sector Tena industry Sector Credit Rating Property ni pack (sq.ft) CRP? Others Charter snarl, ee Village Center er Finance nat ications CO™Munications Moody's: Bat YNAGe CENT gi9.gs1 9.0% 15.1% Moody's: A3 Goldman Sachs Finance S&P
Slide 15: PRIME's Property Location
✓ ✓ ✓ ✓ ✓ PRIME’s Property Location
Slide 16: Moving Ahead
Moving Ahead Resilient and Diversified Portfolio : Strong Balance Sheet Strong and Experienced Sponsors e Disciplined and Prudent Management = PRIME a US REIT
Slide 17: Appendix
Appendix u i a,
Slide 18: PRIME (SGX: OXMU) Quick Facts
PRIME (SGX: OXMU) Quick Facts! High quality portfolio of prime office properties, diversified across key U.S. office markets Tower | at Emeryville San Francisco 1 Bay Area ‘Oakland: lage Center Station | Village Center Station Il Dallas ( Tower 909 (+) Denotes number of properties from the respectiv
Slide 19: High Portfolio Occupancy of 94.9%
High Portfolio Occupancy of 94.9% 222 Main Village Center Station | Village Center Station II San Francisco Bay Area (Oakland) Salt Lake City Denver Denver . r ‘ Apis ke “peal os IS$220.0m_ Valuation’ “Us$88 Sm Valuation!: US$1. 94.4% Occupancy: 87.2% Occupancy” 100. Promenade | & II ‘CrossPoint San
Slide 20: Portfolio Overview - 1Q2020
Portfolio Overview - 1Q2020 ; WALE , Completion| Year of Last NLA Parking , | Number of 1 RETO CHARTS CaliTay BERS Year Refurbishment] (sqft) Stalls ecupancy'| Tenants! cltze Valuat CRI San Francisco Tower | at Emeryville Bay Area 1972 2012 222,207 509 91.5% 7 6.4 US$127.3m US$11.2m (Oakland) 222 Ma
Slide 21: Property Features
Property Features Tower | at Emeryville 1900 Powell Street Emeryville California 94608 Tower | at Emeryville is a 12-storey Class A multi- tenanted office building located in the Oakland (North Alameda) submarket within the San Francisco Bay Area (Oakland) primary market. Situated in close proximity
Slide 22: Property Features
Property Features Village Center Station | 6380 S. Fiddler’s Green Circle Greenwood Village Colorado 80111 Village Center Station | is a 9-storey Class A multi-tenanted office building located in the Southeast Suburban submarket of the Denver primary market with an adjacent parking structure. Excell
Slide 23: Property Features
Property Features 101 South Hanley 101 S. Hanley Road, Clayton St. Louis Missouri 63105 + 101 South Hanley is a 19-storey Class A multi- tenanted office tower located in the Clayton submarket within the St. Louis primary market with a four-storey parking structure. + Close proximity to Interstate 17
Slide 24: Property Features
Property Features Promenade | & II 17802 & 17806 IH-10 W, San Antonio Bexar County Texas 78257 + Promenade | and II are two 4-storey multi- tenanted Class A office buildings located in the West submarket within the San Antonio primary market. + Located within the Eilan mixec-use development which in
Slide 25: Property Features
Property Features One Washingtonian Centre 9801 Washingtonian Boulevard, Gaithersburg Maryland 20878 + One Washingtonian Center is a 13-storey Class A multi-}* tenanted office tower located in the submarket of Suburban Maryland (Gaithersburg) within the Washington D.C. Area (Suburban Maryland) prima
Slide 26: Property Features
Property Features 171 17% Street 171 17th Street NW, Atlanta Eulton Country Georgia 3036. 171 17th Street is a 22-storey Class A multi- tenanted office building located in the Midtown/Pershing/Brookwood submarket within the Atlanta primary market and the master planned mixed use development of Atlan