Singapore Demonstrates Sustained Strength Ongoing Management Efforts to Optimise Portfolio Mix (20250730 174623 N2IU 7BP10LWUMVQD4DMJ)

(Constituted in the Republic of Singapore pursuant to a Trust Deed dated 25 August 2005 (as amended))

For Immediate Release

• VivoCity’s continued strength drove Singapore’s growth in gross revenue and NPI despite ongoing asset enhancement initiative (“AEI”)

• Lower operating expenses and finance costs further cushioned impact of overseas headwinds

• Sustained portfolio committed occupancy with early key renewal at Mapletree Business City (“MBC”), further reinforcing stability

• VivoCity: Outstanding performance with 6.0% NPI growth and robust rental reversion; Phase 2 of Basement 2 AEI ready for progressive opening from September 2025

• Festival Walk: Marketing initiatives continue to drive footfall

• Proposed divestment of two Japan office buildings to mitigate single-tenant risk and optimise management efficiency

‌1 Gross revenue, property operating expenses, NPI and finance expenses do not include contribution from The Pinnacle Gangnam. MPACT will share profit after tax of The Pinnacle Gangnam based on its 50% effective interest.

1. Pasir Panjang Road, #13-01 Mapletree Business City, Singapore 117438 Tel 65 6377 6111 https://www.mapletreepact.com Co Reg No 200708826C

   Singapore, 30 July 2025 – MPACT Management Ltd., as manager of Mapletree Pan Asia Commercial Trust (“MPACT” and as manager of MPACT, the “Manager”), announced its financial results for 1Q FY25/26. Performance for the quarter continued to be supported by Singapore’s stability and the strategic divestment of Mapletree Anson amid persistent macro headwinds.

   1Q FY25/26 gross revenue and net property income (“NPI”) amounted to S$218.6 million and S$166.0 million, respectively. This largely reflects the absence of Mapletree Anson’s contribution following its divestment on 31 July 2024, as well as lower overseas contributions. However, core Singapore’s NPI (excluding Mapletree Anson) demonstrated resilience with 2.9% year-on-year (“yoy”) growth, spearheaded by VivoCity’s robust 6.0% NPI growth despite disruptions from the ongoing Basement 2 AEI.

   Property operating expenses improved 8.1% yoy, primarily attributable to Mapletree Anson’s divestment and lower utility rates. Finance expenses for the quarter improved significantly by 16.4% yoy, largely stemming from disciplined debt reduction following the divestment. The combination of Singapore’s stable contribution, lower property operating expenses and reduced finance expenses helped cushion the impact of overseas headwinds, resulting in a Distribution per Unit (“DPU”) of 2.01 Singapore cents for 1Q FY25/26.

   Subsequent to the close of the quarter, the Manager announced the proposed divestment of two Japan office buildings to unrelated third parties for a total consideration of JPY8,730.0 million (approximately S$78.7 million), 2further demonstrating the Manager’s commitment to active portfolio management.

   Ms Sharon Lim, Chief Executive Officer of the Manager said, “MPACT’s performance this quarter reflects the strength of our Singapore portfolio and the strategic benefits of the Mapletree Anson divestment where the allocation of divestment proceeds towards debt reduction delivered interest cost savings and balance sheet improvements. Notably, VivoCity maintained outstanding all-rounded performance despite Basement 2 enhancement works, while a key tenant at MBC renewed its lease ahead of expiry, underscoring tenant confidence and reinforcing overall stability.”

   ‌2 Divestment consideration in Singapore dollar is based on 31 March 2025 exchange rate of S$1 = JPY110.8881.

   Ms Lim continued, “The proposed divestment of the two Japan office buildings reflects our proactive approach to portfolio optimisation. While modest in scale, this move allows us to mitigate single-tenant risk and optimise management efficiency. With divestment proceeds directed towards debt repayment, MPACT will also benefit from further improvement in financial resilience. Post-divestment, Singapore continues to be our core market, accounting for over 50% of MPACT’s AUM. We remain committed to maintaining occupancy and cash flow generation across our assets.”

   OPERATIONAL PERFORMANCE

   During the quarter, MPACT renewed and re-let more than 1.0 million square feet of lettable area. Of this, approximately 0.9 million square feet were from leases with expiries in FY25/26, achieving a 1.4% rental uplift. This was led by VivoCity, which recorded a strong 14.7% rental uplift for the quarter.

   The portfolio achieved 89.3% committed occupancy as at 30 June 2025 despite ongoing market pressures. Notably, early renewal was secured with a key tenant at MBC, underscoring tenant confidence and reinforcing stability. The portfolio’s weighted average lease expiry (“WALE”) was 2.3 years as at 30 June 2025, with 2.2 years for the retail segment and 2.4 years for the office/business park segment.

   The Basement 2 enhancement at VivoCity, our flagship asset, remains well on track. Phase 1 of the AEI was fully completed during the quarter, while the newly-added 14,000 square feet of retail space from Phase 2 is nearing full commitment, demonstrating robust demand. Progressive opening for the newly-created retail space will begin from September 2025. Slated for completion by end-2025, the entire enhancement initiative is projected to deliver over 10% return on investment.3

   VivoCity recorded 2.1% yoy growth in tenant sales through successful atrium events that drew higher spending despite temporary AEI disruptions. VivoCity closed the quarter with 99.7% committed occupancy.

   ‌3 Based on revenue on a stabilised basis and capital expenditure of approximately S$43 million for the entire Basement 2 rejuvenation.

   The other retail asset in Hong Kong, Festival Walk, maintained a high 97.9% committed occupancy. While 1Q FY25/26 tenant sales were affected by Hong Kong’s record-high outbound travel in April 2025, the Manager continues to proactively refine its tenant mix to better capture local demand and strengthen marketing efforts to drive footfall.

   PROPOSED DIVESTMENT OF TWO JAPAN PROPERTIES

   On 23 July 2025, the Manager announced the proposed divestment of two non-core Japan properties, TS Ikebukuro Building (“TSI”) and ABAS Shin-Yokohama Building (“ASY”), to two unrelated third parties for a total divestment consideration of JPY8,730.0 million (S$78.7 million). The proposed divestments are part of the Manager’s ongoing portfolio management strategy to sharpen MPACT’s focus on quality properties, mitigate single-tenant risk and optimise management efficiency. Divestment proceeds will be directed towards debt reduction, further strengthening MPACT’s balance sheet resilience. The divestments are scheduled for completion by end-August 2025, and are not expected to have a material impact on MPACT’s net asset value (as at 31 March 2026) and NPI (for FY25/26).

   Upon completion of the divestments, MPACT’s portfolio will comprise 15 quality commercial properties located across the five key gateway markets of Asia, with a total lettable area of

   1. million square feet independently valued at S$15.9 billion. Singapore remains MPACT’s core market, providing long-term stability by contributing approximately 61% and 57% of MPACT’s NPI4and AUM,5respectively.

      CAPITAL MANAGEMENT

      Finance expenses decreased 16.4% yoy largely attributable to proactive debt reduction after the Mapletree Anson divestment. The lower weighted average cost of debt from 3.51% per annum (as at 31 March 2025) to 3.32% per annum (as at 30 June 2025), as well as a healthy 37.9% aggregate leverage ratio (as at 30 June 2025) demonstrate management discipline.

      The average term to maturity of debt profile was 3.4 years by the end of 1Q FY25/26, and MPACT’s debt profile remained well-distributed with no more than 23% of debt expiring in any

      ‌4 Based on FY24/25 Contribution to NPI (includes MPACT’s 50% effective share of NPI from The Pinnacle Gangnam, and excludes Mapletree Anson which was divested on 31 July 2024, as well as ASY and TSI).‌

      5 Based on the independent valuations of properties and exchange rates as at 31 March 2025, and includes MPACT’s 50% effective interest in The Pinnacle Gangnam.

      single financial year. As at 30 June 2025, the interest coverage ratio was approximately

      2.9 times on a 12-month trailing basis.

      To shield against interest rate and foreign exchange volatilities, 77.7% of the total gross debt of S$6.1 billion was either fixed-rate debts or hedged through interest rate swaps, while approximately 88% of MPACT’s distributable income (based on rolling four quarters) was either generated in or hedged into Singapore dollars as at 30 June 2025. With a financial cushion of approximately S$0.9 billion of cash and undrawn committed facilities, MPACT has ample financial bandwidth for working capital needs and financial obligations.

      DISTRIBUTION TO UNITHOLDERS

      DPU for 1Q FY25/26 is 2.01 Singapore cents. Unitholders can expect to receive the distribution on Thursday, 11 September 2025. The Transfer Books and Register of Unitholders of MPACT will be closed at 5.00 p.m. on Thursday, 7 August 2025.

      About Mapletree Pan Asia Commercial Trust

      Mapletree Pan Asia Commercial Trust (“MPACT”) is a real estate investment trust (“REIT”) positioned to be the proxy to key gateway markets of Asia. Listed on the Singapore Exchange Securities Limited on 27 April 2011, it made its public market debut as Mapletree Commercial Trust and was subsequently renamed MPACT on 3 August 2022 following the merger with Mapletree North Asia Commercial Trust. Its principal investment objective is to invest on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, as well as real estate-related assets, in the key gateway markets of Asia (including but not limited to Singapore, Hong Kong, China, Japan and South Korea).

      MPACT’s portfolio comprises 17 commercial properties across five key gateway markets of Asia – four in Singapore, one in Hong Kong, two in China, nine in Japan and one in South Korea. They have a total lettable area of

   2. million square feet independently valued at S$16.0 billion. For more information, please visit https://www.mapletreepact.com.

MPACT is managed by MPACT Management Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd. The Manager’s main responsibility is to manage MPACT’s assets and liabilities for the benefit of Unitholders. The Manager is also responsible for setting the strategic direction of MPACT on the acquisition, divestment and/or