Sreit Corporate Day 7 November 2024

("PLife REIT")

Investors Presentation

7 November 2024

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Disclaimer

This document is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in Parkway Life Real Estate Investment Trust ("Parkway Life REIT" and the units in Parkway Life REIT, the "Units").

The value of the Units and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by, Parkway Trust Management Limited, as manager of Parkway Life REIT (the "Manager") or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders of Parkway Life REIT may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on SGX-ST does not guarantee a liquid market for the Units.

The past performance of Parkway Life REIT or the Manager is not necessarily indicative of the future performance of Parkway Life REIT or the Manager.

This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from these forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition, shifts in expected levels of property rental income, changes in operating expenses, property expenses, governmental and public policy changes and the continued availability of financing in the amounts and on the terms necessary to support Parkway Life REIT's future business. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.

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("PLife REIT")

• Capital & Financial Management

• Appendix (Property Information)

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Key Highlights

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Gross Revenue for YTD 3Q 2024

• Declined by 2.2% mainly due to depreciation of JPY, partly offset by contribution from the properties acquired in 2023 and 2024

S$108.5 million 2.2%

DPU Growth Y-o-Y

• As the REIT has hedged the net income from Japan, the drop in revenue will be compensated by the FX gains from the settlement of the forward contracts
• Higher distributable income from Singapore hospitals and some Japanese nursing homes with step-up lease arrangements
• DPU for YTD 2024 (3Q DPU to be distributed as part of 2H 2024 distribution)

Strong Balance Sheet & Capital Structure2

1. Effect of recognising rental income on a straight-line basis over the lease term of the investment properties i.e. effective rent. There is no distribution impact arising from effective rent treatment
2. As at 30 September 2024
3. Applicable to Adjusted-ICR as prescribed under the MAS' Property Funds Appendix. PLife REIT has no hybrid securities as of reporting date

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Strengthens Japan Portfolio with Acquisition of a Newly-built Nursing Home Property in August 2024

• Acquisition of a new and quality nursing home at JPY2,446.2 million (S$20.7 million)1 in Osaka at approximately 9.1% below valuation
• Fortify strategic partnership with K.K. FDS, an established real estate developer, in a second collaboration and deepening working relationship with an existing credible tenant, K.K. BISCUSS

Secured Long-Term Committed Loans for Pre-emptive Refinancing of Near-Term Debts

• Successfully put in place two 7-year JPY loans to refinance the maturing loans due in 2025 and term out the short-term loan drawn down for acquisition, by 4Q 2024
• Post refinancing, no long-term debt refinancing needs till September 2026
• Overall weighted average debt term will extend from 3.0 years2 to 3.8 years upon drawdown of the new loan facilities

On-going Management of PLife REIT's Financial Risks

1. • Principal FX risk mitigated as JPY acquisitions are fully funded by JPY loans (natural hedge)
   • Income FX risk mitigated with JPY net income hedges in place till 1Q 2029
   • Executed several interest rate swaps in 3Q 2024 (including forward-starting swaps) to extend maturing hedges for another 4 to 7 years
   • As at 30 September 2024, about 87% of interest rate exposure is hedged
2. At an exchange rate of S$1.00 = JPY117.92
3. As at 30 September 2024

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Acquisition of 11 Nursing Homes in France (1/2)

Strategic Foray into a Third Key Market Through the France Acquisition

• Acquisition of 11 nursing homes in France from the DomusVi Group1, one of the largest providers of nursing home services in Europe
• Third key market in Europe & UK presents strong fundamentals, growing aging population and aged care sectors
• France, the second largest economy in Eurozone by GDP with opportunities for consolidation in the aged care market
• Favourable lease terms under a sale and leaseback arrangement of 12 years2

Acquisition of 11 Nursing Homes in France (2/2)

Strategically Located Nursing Homes Backed by Favourable Lease Terms

No. of Beds

Financial Performance

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YTD 3Q 2024 Revenue and NPI Composition