Starhill Global Real Estate Investment TrustSGX: P40U

1Q FY 2022/23 Financial Results

· Issued by Starhill Global Real Estate Investment Trust

1Q FY 2022/23 Financial Results

27 October 2022

Singapore Australia Malaysia Japan China

Contents

  • Overview and Key Highlights
  • Portfolio Updates
  • Market Outlook

2

Overview and Key Highlights

Ngee Ann City Singapore

Overview of Starhill Global REIT

Prime retail portfolio in key Asia Pacific cities

Quality Assets

  • Portfolio of ~S$2.9 billion
  • 10 mid- to high-endpredominantly retail properties in six key Asia Pacific cities

Strategic Locations

  • Landmark assets at prime locations
  • Excellent connectivity to transportation hubs
  • Appeals to both local and international brands

Diversified Portfolio

  • Core markets: Singapore, Australia, Malaysia
  • Contribution to 1Q FY22/23 revenue:
    Retail (~86%) & Office (~14%)

Strong Sponsor

  • YTL Group owns ~37.7% of SGREIT
  • Has a combined market capitalisation of US$3.4 billion(1)

Income Visibility

  • Master/anchor leases with periodic rental reviews make up ~53% of gross rent(2)
  • Staggered portfolio lease expiry profile and resilient occupancy

Healthy Financials

  • "BBB" credit rating with stable outlook by Fitch Ratings
  • Gearing of 36.5%(2) and weighted average debt maturity of 3.2 years(2)

Notes:

  1. Market capitalisation of YTL Corporation Berhad and its listed entities in Malaysia, as at 30 September 2022.
  2. As at 30 September 2022.

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Key Highlights for 1Q FY22/23

Financial

Performance

Gross Revenue

S$47.6 million

6.2% y-o-y

Net Property Income

S$37.2 million

8.4% y-o-y

Note:

1. Based on committed leases as at reporting date.

Resilient

Operational Performance

Committed

Portfolio Occupancy

96.9%(1)

as at 30 Sep 2022

Long WALE

7.0 years

by NLA

Expiring leases by gross rent in FY22/23

10.5%

as at 30 Sep 2022

Prudent

Capital Management

Gearing

36.5%

as at 30 Sep 2022

Staggered Debt Maturity Profile averaging

3.2 years

Fixed/Hedged Ratio

84%

of borrowings

as at 30 Sep 2022

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