with Japanese Investors 5 - 6 August 2020 Important Notice The - PowerPoint PPT Presentation

Conference Calls with Japanese Investors 5 - 6 August 2020

Important Notice The past performance of Keppel Pacific Oak US REIT is not necessarily indicative of its future performance. Certain statements made in this release may not be based on historical information or facts and may be Content Outline “forward - looking” statements due to 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 Page 3 Overview expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes, and the continued Page 16 COVID-19 Updates availability of financing in the amounts and terms necessary to support future business. Page 20 1H 2020 Prospective investors and unitholders of Keppel Pacific Oak US REIT (Unitholders) are cautioned not to Operational Highlights place undue reliance on these forward-looking statements, which are based on the current view of Keppel Pacific Oak US REIT Management Pte. Ltd., as manager of Keppel Pacific Oak US REIT (the Manager) on future events. No representation or warranty, express or implied, is made as to, and no reliance should be Page 26 Market Outlook placed on, the fairness, accuracy, completeness or correctness of the information, or opinions contained in this release. None of the Manager, the trustee of Keppel Pacific Oak US REIT or any of their respective Page 34 Additional Information advisors, representatives or agents shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this release or its contents or otherwise arising in connection with this release. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. The value of units in Keppel Pacific Oak US REIT (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 or any of its affiliates. An investment in Units is subject to investment risks, including possible loss of principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (SGX-ST). Listing of the Units on SGX-ST does not guarantee a liquid market for the Units. 2

Overview Tenant lounge The Westpark Portfolio Seattle, Washington

Benefitting from Unique exposure solid US office Tax advantaged to key US real estate structure growth markets fundamentals ▪ Keppel Capital and KPA Sponsors ▪ Pacific Oak Capital Advisors LLC, also advisor for US Asset Manager Tenant lounge, Bellevue Technology Center, Seattle, Washington Pacific Oak Strategic Opportunity REIT About Keppel Pacific Oak ▪ Keppel Pacific Oak US REIT Management Pte. Ltd. Manager US REIT (KORE) ▪ To invest in a diversified portfolio of income-producing Investment mandate commercial assets and real estate-related assets in Distinctive US office REIT focused on key growth markets of the US with favourable key growth markets with positive economic economic and office fundamentals and office fundamentals that generally ▪ Semi-annual distributions Distribution Policy outpace that of the US national average, ▪ Distributions declared in US dollars & Distribution as well as the average of the gateway cities Currency 4

Growth Trajectory since IPO Delivered Growth since IPO Strengthened Foothold in the Distributable Income (US$ million) Listed on SGX Strong Maitland Portfolio value: US$0.83b submarket IPO with 11 office buildings Maitland 50.8 & business campuses Promenade 1 38.6 26.0 across 7 key growth Orlando, Florida 19.7 markets 29.1 24.8 18.9 Dec 2017 Jan 2019 FY 2018 FY 2019 1H 2020 30 Jun 2020 1H 2H 9 Nov 2017 Nov 2019 Nov 2018 Portfolio value: US$1.27b 13 office buildings & DPU (US Cents) business campuses across 6.01 8 key growth markets Axis Title 4.58 3.01 Extended 2.34 Footprint into Maiden Acquisition new key Growth 3.10 3.00 The Westpark 2.24 Market Portfolio One Twenty Five Adjusted FY 2018 FY 2019 1H 2020 Seattle, Washington Dallas, Texas FY 2018 (1) Axis Title 1H 2H 1) Adjusted Actual FY 2018 was calculated based on the weighted average number of Units for FY 2019 5 of 843,917,481 Units to remove the effects of the enlarged Unit base in FY 2019 for comparison purpose.

First Choice Submarkets in Key Growth Markets SEATTLE, Washington ATLANTA, Georgia Overview 13 freehold office buildings Powers Ferry Northridge Bellevue Technology and business campuses The Plaza The Westpark Occupancy: 93.8% Center I & II Center Buildings Portfolio across 8 key growth markets Occupancy: 85.8% Occupancy: 97.3% Occupancy: 100.0% Occupancy: 97.2% Portfolio NLA DENVER, Colorado ORLANDO, Florida Over 4.7 million sf Portfolio Value Westmoor Center Maitland Promenade I & II Occupancy: 96.6% Occupancy: 95.0% US$1.27 billion SACRAMENTO, California DALLAS, Texas Portfolio Committed Occupancy (by NLA) Iron Point 94.3% One Twenty Five Occupancy: 99.5% Occupancy: 96.7% AUSTIN, Texas HOUSTON, Texas 1800 West Loop South Bellaire Park Great Hills Plaza Westech 360 Occupancy: 76.9% Occupancy: 99.1% Occupancy: 90.8% Occupancy: 90.8% All information as at 30 June 2020. 6 6

KORE Strengths Index inclusion Strong will improve rental trading Presence in Stable reversion liquidity 100% first choice portfolio of 14.7% unsecured submarkets in committed Highly Constituent to the debt key growth occupancy diversified Strong average MSCI Singapore markets rental reversion portfolio with Small Cap Index Weighted average Healthy committed across the portfolio, low tenant and the FTSE All Exposure to term to maturity of occupancy of supported by World Small Cap 3.4 years (1) with concentration growth and 94.3% and long continued leasing Index , which will defensive sectors risk no long-term WALE of 4.1 years demand and rent raise visibility of technology and refinancing by CRI. growth across the among investors Top 10 tenants healthcare which requirements until key growth markets. contribute only and enhance comprise 37.6% of November 2022. 19.5% of portfolio trading liquidity. portfolio NLA. cash rental income. All information as at 30 June 2020. 7 (1) Assuming the refinancing of borrowings had occurred on 30 June 2020.

Resilient and Highly Diversified Portfolio Highly diversified tenant base, with exposure to KORE’s buildings and business campuses in the growth and defensive sectors of technology, the tech hubs of Seattle, Austin and Denver as well as medical and healthcare contribute ~54% of CRI Geographic Diversification by CRI contribution Industry Diversification by NLA as at 30 June 2020 as at 30 June 2020 Atlanta Technology 5.7% 28.9% Professional Orlando Seattle Services 11.2% 38.9% 27.9% Dallas 10.7% Medical and Houston Healthcare 13.1% 8.7% Denver Finance and 9.5% Media and Sacramento Insurance Others Austin Information 5.0% 21.5% 9.9% 5.9% 3.1% 8

Low Tenant Concentration Risk Top 10 tenants contribute only 19.5% of CRI, with the largest tenant only contributing 3.5% of CRI Top 10 tenants as at 30 June 2020 Tenant Sector Asset % CRI Ball Aerospace Technology Westmoor Center 3.5 Oculus VR Technology Westpark Portfolio 2.4 Lear Technology The Plaza Buildings 2.1 Zimmer Biomet Spine Technology Westmoor Center 2.0 Spectrum Media & Information Maitland Promenade I 1.8 Unigard Insurance (1) Finance & Insurance Bellevue Technology Center 1.7 Bio-Medical Applications Medical & Healthcare One Twenty Five 1.7 US Bank Finance & Insurance The Plaza Buildings 1.6 Auth0 Technology The Plaza Buildings 1.4 Reed Group Technology Westmoor Center 1.3 Total 19.5 WALE (by NLA) 5.0 years WALE (by CRI) 5.2 years 1) Subsidiary of QBE Insurance Group. 9

Positive Economics in KORE’s Key Growth Markets KORE’s key growth markets continue to outperform national average Real GDP Growth Average (1) 5.6% 2014-2018 5.4% Key Growth Markets Gateway Cities 5.0% 4.0% 4.1% 3.9% 4.0% 3.7% 3.9% 3.2% 2.9% 2.8% 2.5% 1.9% 1.8% 1.6% 1.2% Atlanta Austin Dallas Denver Houston Orlando Sacramento Seattle Boston Chicago Los New York San Washington Angeles Francisco DC Market Average United States Average Key Growth Markets Average Gateway Cities Average Note: Gateway cities average is based on Boston, Chicago, Los Angeles, New York, San Francisco and Washington DC. 10 (1) US Bureau of Economic Analysis.