REIT 1Q FY 2025/26 Business Updates

29 October 2025

Contents Page

• Overview and Key Highlights 4

• Portfolio Updates 10

• Market Outlook 23

Lot 10, Kuala Lumpur, Malaysia

Ngee Ann City, Singapore

Quality Assets Strategic Locations

• Portfolio of ~S$2.8 billion

• 9 mid- to high-end predominantly retail properties in six key Asia Pacific cities

• Prime assets in key shopping belts

• Excellent connectivity to transportation hubs

• Appeal to both local and international brands

• Core markets: Singapore, Australia, Malaysia

• Contribution to 1Q FY25/26 revenue: Retail (~86%) & Office (~14%)

  Strong Sponsor
  
  

• YTL Group owns ~37.9% of SGREIT

• Has a combined market capitalisation of US$18.2 billion(1)

  Notes:

  Income Visibility
  
  

• Master/anchor leases with periodic rental reviews make up 52.9% of gross rental income ("GRI")(2)

• Committed portfolio occupancy of

  94.8%(2)

  Healthy Financials
  
  

• "BBB" credit rating with stable

  outlook by Fitch Ratings

• Gearing of 36.7%(2) and weighted average debt maturity of 3.9 years(2)

• Component stock of SGX iEdge Singapore Next 50 Index and FTSE EPRA NAREIT Global Developed Index

1. Market capitalisation of YTL Corporation Berhad and its listed entities in Malaysia, as at 30 September 2025.

2. As at 30 September 2025.

5

Financial Performance

Operational Performance

Capital Management

Gross Revenue

S$48.3 million

Net Property Income

S$37.9 million

0.2% y-o-y

Committed Occupancy

Portfolio: 94.8%(1)

Retail Portfolio: 97.6%(1)

Portfolio WALE (by GRI)

7.4 years(1)

Expiring leases by

GRI in FY25/26

9.9%(1)

Gearing

36.7%(2)

Fixed/hedged debt

77%(2)

Average debt maturity

3.9 years(2)

Notes:

1. Based on committed leases as at 30 September 2025, including leases commencing after 30 September 2025.

2. As at 30 September 2025.

6

Gross Revenue Net Property Income (NPI)

48.0

0.7

0.9

7.2

7.5

10.3

9.7

13.3

13.3

16.5

17.0

50

0.7% y-o-y

48.3(1)

37.9(1)

0.5

0.2

7.0

7.3

6.5

6.2

10.4

10.2

13.6

14.0

40

0.2% y-o-y

37.9

40

30

$ million

30

20

10

0

1Q FY24/25 1Q FY25/26

20

$ million

10

0

1Q FY24/25 1Q FY25/26

Ngee Ann City Property Wisma Atria Property

Australia Properties

Malaysia Properties

Others

Notes:

1. Total does not add up due to rounding.

2. The arbitration hearing against Markor International Home Furnishings Co., Ltd ("Markor") was held in August 2025 and the arbitration award is expected by the end of 2025. While Markor is still

occupying the premises, the Manager has been actively marketing the space. 7

$ million Debt maturity profile

of total assets

*

125

153

4

13

85

50

54

50

75

100

75

300

* Peak maturity 24% of total debt and 9%

250

200

150

100

50

0

FY25/26 FY26/27 FY27/28 FY28/29 FY29/30 FY30/31 FY31/32

S$100m term loan

S$75m RCF RM500m MTN

S$200m term loan

S$70m MTN

JPY1.5b term loan

S$50m term loan

S$125m MTN

JPY0.5b bond

S$75m term loan

A$63m term loan

S$50m term loan

A$100m term loan

8

Total debt

$1,054 million

Gearing

36.7%

Interest cover(1)

2.9x

ICR Sensitivity

• Scenario 1: 10% decrease in EBITDA

2.6x

• Scenario 2: 100 bps increase in weighted average interest rate(2)

2.3x

Average interest rate p.a.(3)

3.49%

Unencumbered assets ratio

85%

Fixed/hedged debt ratio(4)

77%

Financial Ratios 30 September 2025

Weighted average debt maturity 3.9 years

Notes:

1. Interest cover ratio computed based on trailing 12 months interest expenses as at 30 September 2025, and takes into account the distribution on perpetual securities as per the requirements imposed by the Monetary Authority of Singapore (MAS).

2. Assume 100 bps increase in the interest rates of all hedged and unhedged borrowings, as well as perpetual securities.

3. Includes interest rate derivatives and benchmark rates but excludes upfront costs.

4. Includes interest rate swaps.

9

Wisma Atria, Singapore