Investor Presentation May 2017 1 Disclaimers This material shall - PowerPoint PPT Presentation

Stage 4, Power Park Estate, Melbourne, Australia 12, 14 & 16 Science Park Drive, Singapore Investor Presentation May 2017 1

Disclaimers This material shall be read in conjunction with Ascendas Reit’s financial statements for the financial quarter ended 31 March 2017. 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 similar developments, shifts in expected levels of property rental income and occupancy, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support Ascendas 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 on future events. The value of units in Ascendas Reit (“Units”) and the income derived from them, if any, may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, 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 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 unitholders of Ascendas Reit may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of Ascendas Reit is not necessarily indicative of the future performance of Ascendas Reit. Any discrepancies between the figures in the tables and charts and the listed amounts and totals thereof are due to rounding. 2

Agenda Overview of Ascendas Reit FY16/17 & 4Q FY16/17 Key Highlights Financial Performance Investment Management Capital Management Asset Management Portfolio Update Portfolio Resilience Market Outlook Ascendas Reit’s Strengths 3

Overview of Ascendas Real Estate Investment Trust  First and largest business space and industrial REIT listed on the Singapore Exchange and a constituent of the FTSE Straits Times Index effective 4 June 2014  Total assets of about S$10.2bn (US$7.3bn)  Issuer and senior unsecured rating of A3 by Moody’s Diversified portfolio – 103 properties in Singapore and 29 properties in Business & Australia * ; Tenant base of around Science Park 1,390 local and international companies Integrated High Specs Development, Industrial / Amenities & Data Centres Retail (“IDAR”) Logistics & Light Industrial Distribution / Flatted Centres Factories * As at 26 April 2017, includes Stage 4 Power Park Estate, logistics property in Melbourne, Australia. 4

Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub-sector Business Parks Science Parks (as at 26 Apr 2017) Portfolio GFA (sqm) 410,647 411,587 % of Ascendas Reit - by GFA 11% 11% - by asset value 18% 20% Characteristics Zone is defined by Govt Master Plan. Suburban office Zone is defined by Govt Master Plan. R&D space and corporate HQ buildings. Manufacturing activities equipped with building specifications to facilitate are not allowed. R&D works. Manufacturing activities are not allowed. Typical tenants Regional corporate HQs of industrial companies and Companies in research & development in various MNCs; backroom support office of financial fields including life sciences, food and chemicals, institutions; IT firms, etc. data analysis and IT research and development, etc. 5

Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub-sector Integrated Development, Hi-Specs Industrial Data Centres (as at 26 Apr 2017) Amenities & Retail (IDAR) Portfolio GFA (sqm) 157,299 509,824* 109,756 % of Ascendas Reit - by GFA 4% 14% 3% - by asset value 7% 14% 5% Characteristics Two or more types of space within Vertical corporate campus with Building and M&E specifications an integrated development such higher office content combined (eg raised floor, high power as business space, retail and with high specifications mixed-use capacity) to enable space to be warehousing facility. Typically industrial space. used as data centres. larger scale developments. Possess infrastructure and amenities to meet business needs. Typical tenants MNCs and corporates that desire Multi-national industrial Multi-national companies quality space with comprehensive companies and large local providing data centre services range of amenities to house their companies that wish to co-locate such as cloud computing and HQ and conduct their businesses their HQ functions with data storage. under one roof. Companies in IT, manufacturing services, fast moving consumer goods, engineering, R&D activities. engineering, warehousing, retail. *Excludes 50 Kallang Avenue which has been decommissioned for asset enhancement works 6

– Singapore: Diversified Portfolio Positioned for Future Growth of the Singapore Economy Sub-sector Light Industrial Flatted Factories Logistics & (as at 26 Apr 2017) Distribution Centres Portfolio GFA (sqm) 393,740 197,143 835,825* % of Ascendas Reit - by GFA 11% 5% 22% - by asset value 7% 3% 13% Characteristics Low office content combined with Stacked-up manufacturing space Warehouses with high floor manufacturing space. used for general manufacturing. loading and floor height. Well Ground floor space tends to located near major transport command higher rental rate due to nodes e.g. airport, seaport & higher floor loading and better expressways. Majority are single accessibility. or multi-storey facilities with vehicular ramp access 3 rd Typical tenants Large local companies which Local small & medium-size party logistics providers, house their light manufacturing enterprises engaged in various manufacturers, distributors and activities and HQ operations manufacturing activities. Some trading companies within a single facility. Higher MNC manufacturers also house manufacturing content compared their manufacturing operations in to Hi-Specs Industrial buildings. such buildings. *Excludes 20 Tuas Avenue 1 which has been decommissioned for asset enhancement works 7

Ascendas Reit’s Singapore Property Map  Strategically located along major expressways  Several properties e.g. Business Park, Science Park and some High-Specs Industrial properties are in close proximity to MRT stations  Light Industrial and Hi-Specs Industrial properties are primarily centrally located near major housing areas  Logistics and Distribution Centres are located near airport and seaport 8

Australia Portfolio – 29 Properties * (28 Logistics, 1 Business Park) Brisbane 155,966 sm Sub-sector Logistics Business Park Perth 20,895 sm Logistics 7 proper ties No. of 28 * 1 Logistics 1 property Properties Portfolio 687,532 22,628 GLA/NLA (sqm) % of Ascendas Reit 18% 1% - by GFA 11% 2% - by asset Queensland value Western Australia Characteristics Highly functional Well-located and modern business space properties; some outside the CBD. New South include drive- Wales through or drive around access. Victoria Typical tenants 3 rd party logistics Diverse range of providers, business park Melbourne 273,963 sm * manufacturers, users – Logistics 10 properties * distributors and corporate offices Sydney 259,336 sm trading companies, Logistics 10 properties end-users. * As at 26 April 2017, includes Stage 4 Power Park Estate, logistics property in Melbourne, Australia. Business 9 Park 1 Property

Ascendas Reit’s Steady Growth since Listing 10

Agenda Overview of Ascendas Reit FY16/17 & 4Q FY16/17 Key Highlights Financial Performance Investment Management Capital Management Asset Management Portfolio Update Portfolio Resilience Market Outlook Ascendas Reit’s Strengths 11

Key Highlights for FY16/17  Total amount available for distribution rose by 18.0% y-o-y to S$446.3m • Key contributors were new acquisitions in FY15/16 and FY16/17: Australian Portfolio, ONE@Changi City (Singapore), 197-201 Coward Street (Australia) and 12, 14 & 16 Science Park Drive (Singapore)  FY16/17 DPU (after performance fees) improved 2.5% y-o-y to 15.743 cents despite an increase in number of Units issued  Portfolio operating performance improved • Portfolio occupancy increased to 90.2% (from 87.6% @ Mar 2016) • Positive rental reversion of +3.1% 12