Slide 1: 3Q & 9M 2025 Key Business and Operational Updates
3Q & 9M 2025 Key Business and Operational Updates 29 October 2025
Slide 2: Content
Content 1. 9M 2025 Key Highlights – Pg 3 4. Market Review – Pg 17 2. Financial Highlights 5. Additional Information – Pg 6 – Pg 22 3. Portfolio Review – Pg 10 2 BLUE STREET, SYDNEY 2
Slide 3: 9M 2025 Key Highlights
9M 2025 Key Highlights NPI Share of Results of Associates DI from Operations $161.3m $75.4m $144.6m +8.6% y-o-y +15.4% y-o-y (0.6%) y-o-y $161.3m $75.4m $155.3m $148.5m $145.6m $144.6m $65.3m 6.7% y-o-y • Strong performance driven by sustained demand for Singapore 9M 2024 9M 2025 9M 2024 9M 2025 9M
Slide 4: 9M 2025 Key Highlights
9M 2025 Key Highlights High Portfolio Strong Long Proactive Committed Occupancy Rental Reversion Portfolio WALE(1) Leasing Strategy $ 96.3% 12.0% 4.7 >1.4msf years vs 95.9% as at vs 4.8 years as at of leases committed 30 Jun 2025 30 Jun 2025 in 9M 2025 © Keppel REIT 1. Based on attributable committe
Slide 5: Acquisition of 75% Interest in Top Ryde City Shopping Centre, Strategic Expansion into Retail Sector
Acquisition of 75% Interest in Top Ryde City Shopping Centre, Strategic Expansion into Retail Sector • A high-quality, well-established regional shopping centre focused on non- discretionary retail • Strategically located along Devlin Street, part of Sydney’s A3 arterial route connecting northern an
Slide 6: Financial Highlights
02 Financial KEPPEL BAY TOWER, SINGAPORE Highlights 6
Slide 7: Strong Performance Driven by Robust Demand for Singapore Prime Office and Contribution from 255 George Street
Strong Performance Driven by Robust Demand for Singapore Prime Office and Contribution from 255 George Street • Property Income and NPI increased due mainly to contribution from 255 George Street and higher occupancy at 2 Blue Street • Share of results of associates increased due mainly to higher re
Slide 8: Disciplined Capital Management
Disciplined Capital Management • AUD, KRW and JPY denominated loans formed ~17%, ~3% and ~2% of total borrowings(1) respectively • Sustainability-focused funding constituted 82% of total borrowings(1) As at 30 Sep 2025 Weighted Average Cost of Debt 3.45% p.a. Aggregate Leverage 42.2% Weighted Averag
Slide 9: Well-Spread Debt Maturity Profile
Well-Spread Debt Maturity Profile • For the loans and MTN due in 2026, ~40% will be due in 1H 2026 and the remaining ~60% in 2H 2026 • In discussion with lenders for refinancing of loans due in 1H 2026 Debt Maturity Profile (As at 30 Sep 2025) 25% Bank loan: Bank loan: 7m 96m 21% 22% 34m 150m 15% 17
Slide 10: Portfolio Review
03 Portfolio OCEAN FINANCIAL CENTRE, SINGAPORE Review 10
Slide 11: Diversified Portfolio of Prime Commercial Assets in Asia Pacific
Diversified Portfolio of Prime Commercial Assets in Asia Pacific $9.5b portfolio of prime quality assets anchored across different markets enhance income stability and long-term growth opportunities T Tower, Seoul 99.4% Interest Japan KR Ginza II, Tokyo South Korea 98.5% Interest Occ: 100.0% 2.9% 0.
Slide 12: Performance Breakdown by Geography
Performance Breakdown by Geography Singapore Portfolio North Asia Portfolio 9M 2025 197.2 9M 2025 10.7 Attributable NPI(1) 3.1% Attributable NPI(1) (S$m) (S$m) 9M 2024 191.3 9M 2024 10.7 3Q 2025 96.3 3Q 2025 100.0 Committed Occupancy Committed Occupancy (%) (%) 2Q 2025 96.9 2Q 2025 98.7 Australia Po
Slide 13: 9M 2025 Portfolio Performance
9M 2025 Portfolio Performance (By Attributable Committed Gross Rent) Leases Committed by Geography(1) Leases Committed by Type(1) As at 30 Sep 2025 Australia, New, Singapore, 84.7% By Attributable 12.8% By Attributable 27.7% 96.3% Committed Renewal, Committed Portfolio committed Gross Rent 63.7% Gro
Slide 14: Well-Staggered Lease Expiry Profile
Well-Staggered Lease Expiry Profile (By Attributable Committed Gross Rent) • Average signing rent for Singapore office leases(1) concluded in 9M 2025 was $12.85 psf pm, supported by healthy demand from diverse sectors for prime office space • Average rent of expiring leases for Singapore office leas
Slide 15: Established and Diversified Tenant Base
Established and Diversified Tenant Base (By Attributable Committed Gross Rent) • Keppel REIT has a diversified tenant base of 499(1) • Top 10 tenants contribute 30.4% of attributable tenants, many of which are established blue-chip committed gross rent corporations and government agencies Top 10 Ten
Slide 16: ESG Activities in 3Q 2025
ESG Activities in 3Q 2025 2 Blue Street, originally designed to achieve 5-star Green Star Design & As In July, a sustainability event was Built rating by the Green Building Council held with FairPrice Group and the of Australia, exceeded expectations by Singapore Environment Council for being the fi
Slide 17: Market Review
ONE RAFFLES QUAY, SINGAPORE 04 Market Review 17
Slide 18: Singapore Office Market
Singapore Office Market • Core CBD (Grade A) office rents increased to $12.20 psf pm with occupancy in CBD Core (Grade A) increased to 94.9% in 3Q 2025 Core CBD (Grade A) Occupancy and Rent Demand and Supply (million sf) 1.1 0.8 0.8 0.6 0.6 0.5 0.5 95.5% 95.8% 96.5% 95.1% 94.1% 94.7% 94.9% 0.2 0.2 $
Slide 19: Australia Office Market
Australia Office Market 1,800 88.6% 85.3% 84.1% 83.6% 83.9% 84.2% 85.5% 100% 84.0% 83.6% 84.0% 83.5% Sydney CBD 1,500 80% North Sydney 1200 79.9% 76.7% 82.1% 100% 90% 80% 1,200 1,038 1,048 1,067 70% 919 955 993 60% 900 651 670 693 671 675 661 660 60% 900 885 50% Prime Grade 600 40% Prime Grade 600 4
Slide 20: Seoul Office Market
Seoul Office Market • CBD Grade A occupancy declined to 91.5% in 3Q 2025, primarily due to relocation of several major tenants to other submarkets • JLL expects the increase in vacancy to be temporary, supported by sustained demand for space in the Seoul CBD CBD Grade A Rent and Occupancy 97.0% 98.5
Slide 21: Tokyo Office Market
Tokyo Office Market • Occupancy in Tokyo central 5 wards continues to be high in 3Q 2025 for Grade A office at 99.1% and Grade B office at 98.0% Tokyo Central 5 Wards Grade A Rent and Occupancy Tokyo Central 5 Wards Grade B Rent and Occupancy 99.1% 100.0% 97.8% 97.4% 97.7% 98.2% 98.0% 30,00 .0% 96.7
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 Sustainable ESG Benchmarks and Future Ready Portfolio Sustainability with • MSCI ESG Rating ESGatExcellence maintained ‘A’ Focused Funding • ISS Governance Risk Rating maintained at lowest risk level of “1” and ESG Corporate Rating maintai
Slide 24: Portfolio Information: Singapore
Portfolio Information: Singapore As at Marina Bay Financial Ocean Financial Centre One Raffles Quay Keppel Bay Tower 30 Sep 2025 Centre(4) Attributable NLA 696,117 sf 1,017,189 sf 442,486 sf 386,224 sf Ownership 79.9% 33.3% 33.3% 100.0% The Executive Centre, DBS Bank, TikTok, Keppel, Principal tenan
Slide 25: Portfolio Information: Australia, South Korea & Japan
Portfolio Information: Australia, South Korea & Japan As at 8 Chifley Pinnacle Office 8 Exhibition Victoria Police David Malcolm 255 George 2 Blue Street, T Tower, KR Ginza II, 30 Sep 2025 Square, Park, Street(3), Centre, Justice Centre, Street, Sydney Sydney Seoul Tokyo Sydney Sydney Melbourne Melb
Slide 26: 9M 2025 Portfolio Performance
9M 2025 Portfolio Performance (By Attributable Committed NLA) As at 30 Sep 2025: Leases Committed by Geography (1) Leases Committed by Type (1) Rent Review, 6.9% 96.3% Australia, By Portfolio committed By New, 28.7% Attributable occupancy Singapore, Attributable 29.3% Renewal, Committed 67.3% Commit
Slide 27: Established and Diversified Tenant Base
Established and Diversified Tenant Base (By Attributable Committed NLA) • Keppel REIT has a diversified tenant base of 499(1) • Top 10 tenants occupy 35.4% of attributable committed tenants, many of which are established blue-chip NLA corporations Top 10 Tenants Tenant Business Sector % State of Vic
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 through strategic acquisitions and divestments Portfolio • Provide income stability and long-term capital appreciation of portfolio, anchored Opti
Slide 29: Well-Executed Portfolio Optimisation Strategy
Well-Executed Portfolio Optimisation Strategy Expanded footprint Expanded footprint to Australia: to Japan: Expanded footprint 77 King Street (100%), Sydney, and KR Ginza II (98.5%), to South Korea: 275 George Street (50%), Brisbane Tokyo Acquired T Tower (99.4%), Seoul - David Acquired Malcolm Acqu
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