3Q and YTD FY25/26 Financial Results

S$'000 unless

otherwise stated

3Q FY25/26

3Q FY24/25

Variance

Gross Revenue1

219,448

223,674

â–¼

1.9%

Gross revenue lower yoy, mainly attributed to:

• Higher contribution from Singapore properties; and

• Lower overseas contributions dampened by a stronger SGD against HKD, RMB and JPY, and absence of full-period contribution from TS Ikebukuro Building ("TSI") and ABAS Shin-Yokohama Building ("ASY") following their divestments on 22 August 2025 and 28 August 2025, respectively.

  Singapore's gross revenue and NPI up 3.5% and 5.3% yoy, driven by:

• VivoCity's higher contribution from the completed Basement 2 asset enhancement initiative ("AEI") which was undergoing construction in the prior year, positive rental reversion, and step-up rents; and

• Higher contribution from Mapletree Business City ("MBC") and Other Singapore Properties.

  Lower property operating expenses, driven by:

• Divestment effects; and

• Reduced utility expenses, and marketing and professional expenses.

  Portfolio net property income ("NPI") lower yoy:

• On a constant currency basis, gross revenue and NPI would have been 1.2% and 0.5%

lower yoy respectively.

Property Operating Expenses1

(54,513)

(56,758)

â–¼

4.0%

Net Property Income1

164,935

166,916

â–¼

1.2%

Finance Expenses1

(46,956)

(52,315)

â–¼

10.2%

Finance expenses improved 10.2% yoy, driven by:

• Lower interest rates on HKD and SGD borrowings; and

• Reduced borrowings as net proceeds from the divestments of TSI and ASY were deployed towards debt reduction.

  DPU 2.5% higher yoy, driven by:

• Strong Singapore performance that offset softer overseas operations; and

• Savings in finance expenses.

Amount Available for Distribution to Unitholders

108,161

104,656

â–²

3.3%

Distribution per Unit (Singapore cents)

2.05

2.00

â–²

2.5%

S$'000 unless

otherwise stated

YTD FY25/26

YTD FY24/25

Variance

Gross Revenue1

656,550

685,947

â–¼

4.3%

Gross revenue lower yoy, mainly attributed to:

• Higher contribution from Singapore properties despite the absence of contribution from Mapletree Anson following its divestment on 31 July 2024; and

• Lower overseas contributions, further dampened by a stronger SGD against HKD, RMB and JPY, as well as absence of full period contribution from TSI and ASY that were divested.

  Singapore's gross revenue and NPI up 2.5% and 4.8% yoy (excluding Mapletree Anson), driven by:

• VivoCity's stronger performance; and

• Higher contribution from MBC and Other Singapore Properties.

  Lower property operating expenses mainly due to:

• Reduced utility expenses; and

• Divestment effects.

  Portfolio NPI lower yoy:

• On a constant currency basis, gross revenue and NPI would have been 3.4% and 2.9% lower yoy respectively.

Property Operating Expenses1

(161,721)

(171,955)

â–¼

6.0%

Net Property Income1

494,829

513,992

â–¼

3.7%

Finance Expenses1

(144,404)

(168,842)

â–¼

14.5%

Finance expenses improved 14.5% yoy, mainly due to:

• Lower interest rates on HKD and SGD borrowings; and

• Reduced borrowings as net proceeds from the divestments of Mapletree Anson, TSI and ASY were deployed towards debt reduction.

  DPU held steady, driven by:

• Singapore's higher contribution (excluding Mapletree Anson); and

• Lower finance expenses; cushioning

• Lower overseas contributions.

Amount Available for Distribution to Unitholders

321,135

319,402

â–²

0.5%

Distribution per Unit (Singapore cents)

6.07

6.07

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