CapitaLand Ascendas REIT : SGX-TWSE Singapore REITs Investment Conference (16 May 2024)

CapitaLand Ascendas REIT

SGX-TWSE Singapore REITs

Investment Conference

16 May 2024

Aperia, Singapore

	Agenda
	03
	Overview
	13
	Key Highlights
	15
	Investment Management
	17
	Capital Management
	22
	Asset Management
	37
	Market Outlook
	44
	Portfolio Resilience & Sustainability
	52
	Appendix:
	-	Singapore Occupancy
	-	(CLAR vs Industrial Average)
The Shugart, Singapore	Average Market Rents
	-	Singapore Industrial Market - New Supply

Disclaimers

• This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in 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, availability of real estate properties, competition from other developments or companies, shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training, property operating expenses), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business.
• You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management regarding future events. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither CapitaLand Ascendas REIT Management Limited ("Manager") nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use of, reliance on or distribution of this presentation or its contents or otherwise arising in connection with this presentation.
• The past performance of CapitaLand Ascendas REIT ("CLAR") is not indicative of future performance. The listing of the units in the CapitaLand Ascendas REIT ("Units") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST.
• This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.

Capi t aLand Ascendas REI T

3

Capi t aLand Ascendas REI T	Source: Bloomberg, latest available company
	financial statements

4

Diversified

Industrial

Data Centre

Retail

Commercial

Hospitality Healthcare

																										S$m
	OUE REIT	917
	Cromwell European Reit	1,131
	CapitaLand China Trust	1,253
	Lendlease Global Commercial REIT	1,378
	Suntec REIT	3,142
Frasers Logistics & Commercial Trust	3,976
Mapletree Pan Asia Commercial Trust	6,724
CapitaLand Integrated Commercial Trust	13,328
	Sabana REIT								405
	Daiwa House Logistics Trust								411
	AIMS APAC REIT												1,038
	CapitaLand India Trust															1,405
	ESR-LOGOS REIT																2,268
	Mapletree Logistics Trust																						7,291
	CapitaLand Ascendas REIT																						12,170
	Digital Core REIT												1,060
	Keppel DC REIT																2,980
	Mapletree Industrial Trust																			6,632
	Dasin Retail Trust	23
	LippoMalls Indo REIT		100
	BHG Retail REIT					252
	United Hampshire US Reit					343
	Sasseur REIT							853
	Starhill Global REIT								1,086
	Paragon REIT										2,373
	Frasers Centrepoint Trust												3,954
	Manulife US REIT		185
	Keppel Pacific Oak US REIT		214
	Elite Commercial Reit		240
	Prime US REIT		240
	IREIT Global		471
	Keppel REIT						3,311
	ARA US Hospitality Trust		223
	Frasers Hospitality Trust			886
	CDL Hospitality Trust			1,272
	Far East Hospitality Trust			1,283
	CapitaLand Ascott Trust				3,568
	First REIT		541
	Parkway Life		2,118

Market Capitalisation (As at 31	S-REITs Ranked by
Mar 2024)	Industry
	and Size

Over 20 Years of Par Excellence

SG-Only REIT	SG-focused REIT + International Exposure
	2015	2019
		2018
2002

2021

Initial Public Offering

Nov 2002:

5x oversubscribed at an issue

price of S$0.88 per unit.

						Entry into
Entry into Australia
				The United States
Oct/Nov 2015:
				Dec 2019:
26 logistics properties	Entry into
28 Business Parks
(S$1.0b)	Entry into Europe
The United Kingdom	(S$1.3b)
		Aug/Sep 2018:			Mar 2021:
			11 Data Centres in UK,
		38 logistics properties
			Netherlands, France &
			(S$0.8b)
				Switzerland (S$0.9b)

TOTAL INVESTMENT	S$0.6 billion	S$8.2 billion	S$16.9 billion
PROPERTIES
			As at 31 Mar 2024
Capi t aLand Ascendas REI T			5

CapitaLand Ascendas REIT

A global REIT anchored in Singapore, with a multi-asset portfolio in developed markets that caters to a diverse mix of industries.

United States	Singapore
	United Kingdom /
	Europe

Australia

Investment Properties

~ S$17 b

Market Capitalisation

~ S$12 b

As at 31 Mar 2024

Capi t aLand Ascendas REI T

6

Diversified Portfolio Across Developed Markets

Investment Properties stood at S$16.9 b (1)		64% Singapore
as at 31 Mar 2024

1. Singapore: S$10.8 b

12% United States

o United States: S$2.1 b

Asset Value

o Australia: S$2.2 b	S$16.9 b (1)

13% Australia

1. United Kingdom/Europe: S$1.8 b

11% United Kingdom/Europe

(1) Comprises 227 properties, which excludes two properties in Singapore which are under redevelopment. Multi-tenant buildings account for 67.0% of CapitaLand Ascendas REIT's total investment properties (by asset value) as at 31 Mar 2024.

Capi t aLand Ascendas REI T

1Q 2024 Business Updates

7

Multi-Asset Portfolio

Steering Towards Growth Sectors

Steering our portfolio towards asset classes that cater to the changing market and tenant requirements arising from structural trends and changing consumption patterns such as digitalisation and e-commerce.

1. Business Space and Life Sciences (2): S$7.7 b

1. Logistics (3): S$4.3 b

1. Industrial and Data Centres (4): S$4.9 b

45%, Business Space and Life Sciences

		Business Space
		37%
26%, Logistics
Logistics	Asset value
	26%
	S$16.9 b (1)
		Life Sciences
	Data	8%
29%, Industrial and Data Centres
Centres
	9%	Industrial
		20%

1. Comprises 227 properties, which excludes two properties in Singapore which are under redevelopment. Multi-tenant buildings account for 67.0% of CapitaLand Ascendas REIT's total investment properties (by asset value) as at 31 Mar 2024.
2. Business Space and Life Sciences properties are in Singapore (31%), the US (10%) and Australia (4%).
3. Logistics properties are in Singapore (10%), Australia (9%), UK (5%) and the US (2%).
4. Data centres are in Singapore (3%) and UK/Europe (6%).

Capi t aLand Ascendas REI T

1Q 2024 Busi ness Updat es

8

Singapore: 97 properties

Breakdown by Asset Class

Life

Sciences,

Properties are well-located along major

expressways, airport, seaport and proximity to

MRT stations

11%

Logistics,

15%

Business	Investment
Properties
Space, 38%
	S$10.8b*

Industrial,

31%

Data

Centre,

5%

As at 31 Mar 2024

* Excludes two properties which are under redevelopment.

Capi t aLand Ascendas REI T

Green Buildings

(BCA Green Mark Certifications

as at 31 December 2023)

Business Space and Life Sciences (979,130 sqm)

Industrial and Data Centres (1,310,674 sqm)

Logistics (928,744 sqm)

Note: Refers to Gross Floor Area

9

United States: 48 Properties

30 Business Spaces, 18 Logistics
		Kansas City,	200,908 sqm
Breakdown by Geography					Kansas / Missouri
	Portland, Oregon 107,323 sqm
			11 Logistics properties
	San Francisco,			15 Business Space properties
	32%
							Chicago,	132,344 sqm
								Illinois
		Kansas						7 Logistics properties
	Investment
Raleigh,	City, 9%
Properties
15%	Chicago,
	S$2.1b
	6%
		Portland,
		11%
	San Diego,
	27%
Breakdown by Asset Class
	Life
	Science,
	7.0%
Logistics,
16%			San Francisco, California 41,372 sqm
	Investment
		2 Business Space properties			Raleigh, North Carolina	112,378 sqm
	Properties
						5 Business Space properties
	S$2.1b
				San Diego, California	97,826 sqm
	Business		8 Business Space properties				Note: Refers to Gross Floor Area
	Space,

As at 31 Mar 2024

77%

Capi t aLand Ascendas REI T	10