FINANCIAL RESULTS For First Quarter ended 31 March 2016

2

Q1 Highlights

Financial Performance

Portfolio Performance

AEI Updates

177 Pacific Highway Updates

Looking Ahead

Unit Performance

AGENDA

Q1 HIGHLIGHTS

4

Q1 HIGHLIGHTS

FINANCIAL HIGHLIGHTS

Distributable Income S$60.0 mil

DPU2.371 cents

+ 7.2%

+ 6.3%

5

Q1 HIGHLIGHTS

PORTFOLIO PERFORMANCE

NLA2.4 mil sf

OFFICECommitted  Occupancy 98.3%

NLA1.0 mil sf

RETAILCommitted  Occupancy 98.6%

FINANCIAL PERFORMANCE

Revenue and net property income increased y‐o‐y mainly due to the opening of Suntec City Phase 3 and higher contribution from Suntec City Office and Suntec Singapore.

7

FINANCIAL PERFORMANCE: 1Q FY16 

1 January – 31 March 2016 1Q FY16 1Q FY15 Change 

Gross Revenue S$78.3 mil S$74.5 mil 5.2% 

Net Property Income   S$54.0mil S$51.4 mil 5.1%

Distributable Income S$60.0mil S$56.0 mil 7.2%

‐ from operations S$56.0 mil S$56.0 mil 0.0% 

‐ from capital S$4.0 mil ‐ ‐

Distribution per unit1 2.371¢ 2.230¢ 6.3%

‐ from operations 2.213¢ 2.230¢ ‐0.8% 

‐ from capital 0.158¢ ‐ ‐

Annualised Distribution Yield2 5.6% 5.3%

Source: ARATMS

Achieved DPU of 2.371 cents

Notes:1. Based on 2,526,912,798 units in issue as at 31 March 2016 and 3,223,144 units to be issued to the Manager by 30 April 2016 as partial satisfaction of asset management

base fee incurred for the period 1 January to 31 March 2016.2. Based on the last traded price of S$1.71 per unit as at 20 April 2016.

8

PORTFOLIO REVENUE AND NPI CONTRIBUTION

1Q FY16Composition of Office, Retail and Convention Revenue and NPI

Asset Revenue NPI

Suntec City• Office• Retail

S$33.2 milS$25.9 mil

S$26.7 milS$19.5 mil

Suntec Singapore• Convention• Retail

S$13.1 milS$6.1 mil

S$2.4 milS$5.2 mil

Total S$78.3 mil S$53.8 mil

Office revenue contributed approximately 42% of the Total Gross Revenue1 for 1Q FY16

Retail revenue contributed approximately 41% of the Total Gross Revenue1 for 1Q FY16

Convention revenue contributed approximately 17% of the Total Gross Revenue1 for 1Q FY16

Note:1. Excludes contribution from ORQ, MBFC Properties and Park Mall

9

DEBT‐TO‐ASSET RATIO STOOD AT 34.7%

Debt Metrics                                                               31 Mar 2016

Total Debt Outstanding (Group) S$3.046 bil

Debt‐to‐Asset Ratio1 34.7%

All‐in Financing Cost  2.92%

Interest Coverage Ratio   3.6x

Issuer Rating “Baa2”

Note:

1. Suntec REIT’s “Aggregate Leverage Ratio” as at 31 March 2016 was 36.0%. “Aggregate Leverage Ratio” refers to the ratio of total borrowings (inclusive of proportionate share of borrowings of joint ventures) and deferred payments (if any) to the value of theDeposited Property

Source: ARATMS

0

200

400

600

800

1,000

FY16 FY17 FY18 FY19 FY20 FY21

S$ 'mil

10

Debt Maturity Profile (REIT) 

S$280 convertible bonds1

S$150 mil medium term note

S$100 mil loan facility

S$200 mil loan facility

S$500 mil loan facility

S$500 mil loan facility2

S$105 mil medium term note

S$800 mil loan facility

S$310 mil medium term note

S$120 mil term loan

The weighted average term to expiry is 2.67 years

DEBT MATURITY PROFILE AS AT 31 MARCH 2016

Note:1. S$275 million convertible bonds was redeemed on 18 March 2016. The balance S$5 million will be redeemed on 22 April 2016.2. Under the S$500 million loan facility, S$389.8 million has been utilised.

11

S$6.6 BILLION OF FINANCING SINCE APRIL 2009

Average all‐in financing cost of 2.92% for 1Q FY16

825 

1,805 

270 200 

1,280 

1,110 

105  120 153 

429 350 

 ‐

 200

 400

 600

 800

 1,000

 1,200

 1,400

 1,600

 1,800

 2,000

2009 2010 2011 2012 2013 2014 2015 2016

S$ m

il

Financing Track Record

Debt Equity

12

NAV PER UNIT OF S$2.138 AS AT 31 MARCH 2016

Consolidated Balance Sheet  31 March 2016

Total Assets S$8,747 mil

Total Liabilities  S$3,220 mil

Net Assets Attributable to Unitholders S$5,410 mil

NAV Per Unit1 S$2.138

Adjusted NAV Per Unit2 S$2.114

Notes:1. Based on 2,526,912,798 units in issue as at 31 March 2016 and 3,223,144 units to be issued to the Manager by 30

April 2016 as partial satisfaction of asset management base fee incurred for the period 1 January to 31 March 2016.

2. After DPU adjustment of 2.371 cents for the quarter ended 31 March 2016.

Source: ARATMS

13

DISTRIBUTION TIMETABLE 

Source: ARATMS

Distribution Payment

Distribution Period 1 January – 31 March 2016

Amount (cents/unit) 2.371

Ex‐date 27 April 2016

Books closure date 29 April 2016

Payment date 26 May 2016

PORTFOLIO PERFORMANCE

97.5%

91.7%

99.8% 99.3% 98.3%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

Suntec Office Park Mall Office One Raffles Quay MBFC Properties Office Portfolio

15

Achieved 98.3% committed occupancy for office portfolio1 as at 31 March 2016

Source: ARATMS

STRONG OFFICE PORTFOLIO COMMITTED OCCUPANCY

Note:1. Suntec REIT owns a 30% interest in Park Mall and one‐third interest in One Raffles Quay and MBFC Properties

98.7%96.7%

98.1% 98.6%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

Suntec City Park Mall Marina Bay Link Mall Retail Portfolio

16

Committed occupancy for retail portfolio1 stood at 98.6% as at 31 March 2016

Source: ARATMS

RETAIL PORTFOLIO COMMITTED OCCUPANCY

Note:1. Suntec REIT owns a 30% interest in Park Mall and one‐third interest in One Raffles Quay and Marina Bay Link Mall

95.0%95.5%

96.6%

98.1%

99.1%99.5% 99.5%

98.0%

99.2% 99.5%100.0%100.0%100.0%

99.4%99.4% 99.7%99.2% 98.9%

99.4%100.0%

100.0%99.6%

98.4%

99.5% 99.3%

97.5%

80%

82%

84%

86%

88%

90%

92%

94%

96%

98%

100%

Mar 10 Jun 10 Sep 10 Dec 10Mar 11 Jun 11 Sep 11 Dec 11Mar 12 Jun 12 Sep 12 Dec 12Mar 13 Jun 13 Sep 13 Dec 13Mar 14 Jun 14 Sep 14 Dec 14Mar 15 Jun 15 Sep 15 Dec 15Mar 16

Core CBD Occupancy Suntec City Office Occupancy

Suntec City Office achieved committed occupancy of 97.5% versus Singapore average CBD 

Grade A office occupancy of 95.0%

Leases secured for the quarter at an average rent of S$8.67 psf/mth

Source: JLL, ARATMS

17

SUNTEC CITY OFFICE  ACHIEVED 97.5% COMMITTED OCCUPANCY

18

OFFICE LEASES EXPIRING IN FY 2016 REDUCED TO 6.0%

Note:1. Assumes one third of total office net lettable area of One Raffles Quay and Marina Bay Financial Centre Office Towers 1 and 2

Expiry Profile 

As at 31 Mar 16

Net Lettable Area1

Sq ft % of Total

FY 2016 139,346 6.0%

FY 2017 457,500 19.7%

FY 2018 546,829 23.5%

FY 2019 258,509 11.1%

FY 2020 & Beyond 882,780 38.0%

Lease Expiry as % of Total Office NLA1 (sq ft)  

Source: ARATMS

Balance of office leases expiring in FY 2016 reduced to 6.0%

Signed approximately 225,000 sq ft of renewal and replacement leases in 1Q FY 2016

6.0%

19.7%

23.5%

11.1%

38.0%

0.0%

10.0%

20.0%

30.0%

40.0%

2016 2017 2018 2019 2020 & Beyond

Notes:1. Assumes one third of total retail net lettable area of One Raffles Quay, Marina Bay Link Mall and 60.8% interest in Suntec Singapore

19

RETAIL PORTFOLIO LEASE EXPIRY PROFILE

Source: ARATMS

Expiry Profile 

As at 31 Mar 16

Net Lettable Area1

Sq ft % of Total

FY 2016 208,150 23.1%

FY 2017 235,665 26.1%

FY 2018 196,414 21.7%

FY 2019 112,505 12.5%

FY 2020 & Beyond 137,800 15.3%

Lease Expiry as % of Total Retail NLA1 (sq ft)  

Balance 23.1% of retail leases expiring in FY 2016

23.1%

26.1%

21.7%

12.5%

15.3%

0.0%

10.0%

20.0%

30.0%

40.0%

2016 2017 2018 2019 2020 & Beyond

REMAKING OF SUNTEC CITY – AEI UPDATES

PHASE 3 –Opened in June 2015

PHASE 1 –Opened in June 

2013

PHASE 2 –Opened in June 

2014

21

REMAKING OF SUNTEC CITY – 3 YEARS AEI COMPLETED IN JUNE 2015

Note:1. On a stablised basis

ACHIEVED 98.7% COMMITTED OCCUPANCY 

Overall committed passing rent1

stands at $12.00 psf/mth

currently

177 PACIFIC HIGHWAY UPDATES

23

Dec 2013

Completed acquisition

Feb 2014

Ground breaking ceremony

Now

Construction in progress

2H 2016

Target completion

DEVELOPMENT UPDATES

LOOKING AHEAD

25

AUM OF S$9.3 BILLION*

Singapore’s 2nd largest REIT by AUM with a strong 

portfolio of strategically‐located prime assets

Office portfolio of 2.4 mil sq ft and retail portfolio of 1.0 mil sq ft

Anchored by major asset Suntec City, one of Singapore’s largest office and retail properties

Source: ARATMS

AUM (S$b)

Note:

*Includes  S$371.8 million for 177 Pacific Highway

SINGAPORE:

AUSTRALIA – 177 PACIFIC HIGHWAY, NORTH SYDNEY

ASSETS UNDER MANAGEMENT

2.2 2.3

3.2

4.6

5.4 5.2

7.0

7.78.0

8.6 8.89.3*

0

2

4

6

8

10

Dec 04Sep 05Sep 06Sep 07Dec 08Dec 09Dec 10Dec 11Dec 12Dec 13Dec 14Dec 15

S$ bil

OUTLOOK

TRACK RECORD

Economy to remain stable 

Office portfolio performance expected to remain stable

Retail contribution from Suntec City expected to be stable

Proven track record in enhancing the performance of our property portfolio

Strong credit standing and debt financing record

Delivered 105.9 cents of DPU since IPO in December 2004

STRATEGY Proactive leasing management

Prudent and proactive capital management

26

WELL POSITIONED IN SINGAPORE‐REIT SECTOR

Source: ARATMS

UNIT PERFORMANCE

Notes:1. Based on the share price of S$1.675 as at 31 March 20162. Based on the market capitalisation as at 31 March 2016

28

UNIT PERFORMANCE

Source: ARATMS

1Q FY2016 DPU of 2.371 cents

Trading yield of 5.69%1

Market Capitalisation of S$4.2 billion1 as at 31 March 2016

38th largest company2 on SGX

0

5

10

15

20

25

0.50

0.70

0.90

1.10

1.30

1.50

1.70

1.90

2.10

2.30

Dec‐04Jun‐05Dec‐05Jun‐06Dec‐06Jun‐07Dec‐07Jun‐08Dec‐08Jun‐09Dec‐09Jun‐10Dec‐10Jun‐11Dec‐11Jun‐12Dec‐12Jun‐13Dec‐13Jun‐14Dec‐14Jun‐15Dec‐15

Volume (Daily, M

illions)

Unit Price (S$)

Volume Price

29

STABLE SUSTAINABLE DPU

1Q FY2016 DPU of 2.371 cents was 6.3% higher year‐on‐year

2.513 2.528 2.502

2.3162.388

2.532 2.533 2.479 2.4532.361 2.350 2.326

2.228 2.249 2.289

2.562

2.229 2.2662.328

2.577

2.230

2.500 2.522

2.750

2.371

0.0

0.5

1.0

1.5

2.0

2.5

3.0

1Q2010

2Q2010

3Q2010

4Q2010

1Q2011

2Q2011

3Q2011

4Q2011

1Q2012

2Q2012

3Q2012

4Q2012

1Q2013

2Q2013

3Q2013

4Q2013

1Q2014

2Q2014

3Q2014

4Q2014

1Q2015

2Q2015

3Q2015

4Q2015

1Q2016

30

OUR TRACK RECORD

Source: ARATMS

1Q FY 16 DPU

2.371 cents

Total DPU since IPO

105.9 cents

Total Return for IPO 

Unitholder173.4%

31

#16‐02 Suntec Tower 46 Temasek BoulevardSingapore 038986

Tel: +65 6835 9232Fax: +65 6835 9672

Yeo See KiatChief Executive Officerseekiatyeo@ara.com.hk

Low Poh ChooSenior Director, Financepohchoolow@ara.com.hk

Ng Ee San Director, Financeeesanng@ara.com.hk

Melissa ChowManager, Investor Relationsmelissachow@ara.com.hk

ARA Trust Management (Suntec) Limited

www.suntecreit.comwww.ara‐asia.com

CONTACT

32

THANK YOU

33

This presentation is focused on the comparison of actual results for the quarter ended 31 March 2016 versus results achieved for the quarter ended 31

March 2015. It should be read in conjunction with Paragraph 8 of Suntec REIT’s financial results for the quarter ended 31 March 2016 announced on

SGXNET.

The information included in this release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or

subscribe for units in Suntec REIT (“Units”) in Singapore or any other jurisdiction.

This presentation may contain forward‐looking statements that involve assumptions, risks and uncertainties. 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, competition from other developments or companies, shifts in the expected levels of occupancy rates, property rental income,

changes in operating expenses, property expenses and governmental and public policy changes and the continued availability of financing in the

amounts and the terms necessary to support future business. Past performance is not necessarily indicative of future performance. Predictions,

projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of Suntec

REIT. You are cautioned not to place undue reliance on these forward‐looking statements, which are based on the current view of management on

future events.

IMPORTANT NOTICE

1. The value of Units and the income derived from them, if any, may fall or rise.  Units are not obligations of, deposits in, or guaranteed by, ARA Trust 

Management (Suntec) Limited (as the manager of Suntec 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.

2. Investors should note that they will have no right to request the Manager to redeem or purchase their Units for so long as 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. The listing of the Units on the SGX‐ST does not 

guarantee a liquid market for the Units.

3. The past performance of Suntec REIT is not necessarily indicative of the future performance of Suntec REIT. 

DISCLAIMER