Slides
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(“PLife REIT”) 1 2H and FY2025BUSINESS UPDATE(2 February 2026)
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DisclaimerThis document is for information only and does not constitute an invitation or offer to acquire, purchase orsubscribe for units in Parkway Life Real Estate Investment Trust (“Parkway Life REIT” and the units in ParkwayLife REIT, the “Units”).The value of the Units and the income derived from them may fall as well as rise. The Units are not obligations of,deposits in, or guaranteed by, Parkway Trust Management Limited, as manager of Parkway Life REIT (the“Manager”) or any of its affiliates. An investment in Units is subject to investment risks, including the possibleloss of the principal amount invested.Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended thatUnitholders of Parkway Life REIT may only deal in their Units through trading on Singapore Exchange SecuritiesTrading Limited (the “SGX-ST”). Listing of the Units on SGX-ST does not guarantee a liquid market for the Units.The past performance of Parkway Life REIT or the Manager is not necessarily indicative of the futureperformance of Parkway Life REIT or the Manager.This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actualfuture performance, outcomes and results may differ materially from these forward-looking statements as a resultof a number of risks, uncertainties and assumptions. Representative examples of these factors include (withoutlimitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability,competition, shifts in expected levels of property rental income, changes in operating expenses, propertyexpenses, governmental and public policy changes and the continued availability of financing in the amounts andon the terms necessary to support Parkway Life REIT’s future business. Investors are cautioned not to placeundue reliance on these forward-looking statements, which are based on the Manager’s current view of futureevents.2
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3 Agenda (“PLife REIT”)2H and FY2025 Key HighlightsFinancial PerformanceProperty PortfolioGrowth StrategyCapital & Financial ManagementAppendix (Property Information)123456
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(“PLife REIT”) 2H and FY2025Key Highlights 4
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Strong Balance Sheet & Capital Structure3All-in debt cost1.59%Interest cover8.6 timesGearing5No long-term debt refinancing needs till October 20261. Relating to dividend income and interest income to be received in Singapore where such income originates from rental and property-related income or gains from disposal of the overseas properties2. Pursuant to the equity fund raising exercise, 47,369,000 units were issued on 1 November 2024. DPU for 2025 is based on an enlarged unit base3. As at 31 December 202533.4% S$78.0millionArising from the nursing homes acquired in Japan and France in 2024Partially offset by depreciation of JPYHigher Gross Revenue for 2H and Full Year 20257.1%S$156.3million7.6%Revenue for 2H 2025Revenue for Full Year 2025Higher distributable income attributed to acquisitions in 2024 and Singapore hospitals with step-up lease agreementsObtained tax exemption on foreign-sourced income1for the entire France portfolioWhile distributable income increased by 9.1% year-on-year , the resulting DPU rose by 2.5%2 due to the enlarged unit baseDPU for 2H 20257.64cents DPU for Full Year 202515.29centsFull Year DPU Growth Y-o-Y by 2.5% to 15.29 cents 2.5%3.5%
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6 Valuation gain of S$135.7 mill ion and S$64.7 million as compared to last valuation as at 31 December 2024 and against the net book value respectively This is largely contributed by the projected rent increase for the Singapore hospitals FY2025 Portfolio Annual Valuation1 Singapore hospitals continues to underpin the organic rental growth for PLife REIT Minimum rent is set to increase to S$99.1 million in FY2026 with CPI 2 fixed at 0.9%, an increase of S$19.3 million or 24.3% from the actual rent payable for FY2025 Annual Rent Review Formula applicable to rental contribution from FY2026 onwards based on the higher of {1+(CPI+1%) X Initial Rent of S$97.2 million} or {Base Rent + Variable Rent} FY2026 Minimum Guaranteed Rent for Singapore Hospitals 1. Total net change in fair value of investment properties recognised in s tatement of total return is a gain of S$42. 0m after taking into consideration the impact from straight-line rental adjustment and amort isation of right-of-use assets which amounted to S$22.7m 2. CPI denotes the % increase in the Consumer Price Index announced by the Depa rtment of Statistics for the relevant year compared to the immediately pr eceding year On-going Management of PLife REIT’s Financial Risks Principal FX risk mitigated as JPY acquisitions are fully funded by JPY loans (natural hedge) Principal FX risk for the France portfolio was mit igated by swapping EFR SGD proceeds into EUR via an EUR/SGD cross-currency swap. Income FX risk mitigated with JPY and EUR net i ncome hedges in place till 1Q 2029 and 1Q 2030 respectively As at 31 December 2025, about 93% of interest rate exposure is hedged
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(“PLife REIT”) Financial Performance 7
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JapanPortfolio21,141SingaporePortfolio150,791Malaysia Portfolio233 (0.1%)Total Revenue77,98672,84877,98668,00070,00072,00074,00076,00078,00080,0002H 20242H 2025145,268156,294136,000140,000144,000148,000152,000156,000160,000YTD 2024YTD 2025 2H and FY 2025 Revenue 2H 2025 Gross Revenue (S$’000)FY 2025 Gross Revenue (S$’000) 1. Singapore Portfolio comprises Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital2. Malaysia portfolio was divested on 12 August 2025 Total Revenue156,294JapanPortfolio42,760Singapore Portfolio1101,583Malaysia Portfolio2168 (0.1%) 8Gross Revenue (Overall Portfolio) Gross Revenue (Overall Portfolio) 65.1%27.1%7.7%France Portfolio6,021France Portfolio11,7837.5%27.4%65.0%Nursing HomesHospitals/ Medical Centres
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68,24273,64064,00067,00070,00073,00076,0002H 20242H 2025 2H and FY 2025 Net Property Income (“NPI”)2H 2025 Net Property Income (S$’000) 1. Singapore Portfolio comprises Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital Total NPI73,640JapanPortfolio18,915Singapore Portfolio148,707Malaysia Portfolio13 (0.1%) 9Net Property Income (Overall Portfolio)FY 2025 Net Property Income (S$’000) Total NPI147,484JapanPortfolio38,309Singapore Portfolio197,379Malaysia Portfolio58 (0.1%)Net Property Income (Overall Portfolio)136,597147,484125,000130,000135,000140,000145,000150,000FY 2024FY 2025 France Portfolio11,738France Portfolio6,005 66.1%25.7%66.0%25.9%8.1%8.0%
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Consolidated Statements of Total Return 10 %2H 20242H 2025(S$’000)7.172,84877,986Gross revenue (A)7.968,24273,640Net property income (A)25.9(9,043)(11,387)Trust expenses1(B)54.82,0293,140Foreign exchange gain (net)30.0(5,630)(7,320)Finance costs (net)2 (C)n.m.-31Other incomen.m.(3,010)1,598Net change in fair value of financial derivatives (D)n.m.(6,014)53,368Net Change in Fair Value of Investment Properties3 n.m.-123Gain on disposal of investment property (E)(52.1)(3,361)(1,611)Income tax expense158.243,213111,582Total return for the period after tax before distributionn.m.2,597(61,724)Distribution adjustments4 8.845,81049,858Amount available for distribution3.57.38 cents7.64 centsDistribution per unit (DPU)6 (A) Gross revenue and NPI have increased mainlydue to contribution from one nursing homeacquired in Japan in August 2024, and 11 nursinghomes acquired in France in December 2024. Inaddition, the Singapore properties with step-uplease arrangements5contributed to higherdistributable income in 2025.(B) Higher trust expenses due to one-offprofessional fees incurred to restructure theholding structure of 4 France assets.(C) Finance costs have increased mainly due tofunding of capital expenditure and Japanacquisition in 2024 and higher interest costs fromJapanese Yen debts. Notwithstanding, interestcost on loans drawn down to fund Capex has nodistribution impact as they are not subject todeduction when computing distributable income4to Unitholders.(D) At the reporting date, the Group hasoutstanding forward exchange contracts withaggregate notional amounts of approximately$115.0 million. A change in fair value of $1.6million gain in 2H 2025 was charged to thestatement of total return.(E) The gain on disposal relates to the divestmentof strata units and lots at MOB Specialist Clinics inMalaysia7completed on 12 August 2025.1. Include management fees2. Net off interest income3. Includes effect of recognising rental income on a straight-line basis over the lease term of the investment properties i.e. effective rent. There is nodistribution impact arising from effective rent treatment4. Distribution income is net of amount retained for capital expenditure ($3m p.a.). Distribution adjustments are largely on net change in fair value of financial derivatives & investment properties, financing costs incurred for Capex, effects of recognising rental income on a straight-line basis and temporary differences5. Referring to the new 20.4-year master lease agreements for its three Singapore hospitals6. DPU for 2H 2024 includes an advanced distribution of 5.00 cents for the period 1 July 2024 to 31 October 2024 which was distributed to eligible unitholders on 26 November 2024. A total of 47,369,000 units were issued on 1 November 2024 pursuant to the equity fund raising exercise.7. For more details, please refer to the announcement of PLife REIT titled “Completion of the Divestment of Strata Units and Lots in Malaysia” dated 12 August 2025
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FY 2025 Consolidated Statements of Total Return(A) Gross revenue and NPI have increasedmainly due to contribution from one nursinghome acquired in Japan in August 2024, and 11nursing homes acquired in France in December2024. In addition, the properties with step-uplease arrangements5contributed to higherdistributable income in FY2025.(B) Finance costs have increased mainly due tofunding of capital expenditure and newacquisitions in Japan in 2024 and higherinterest costs from Japanese Yen debtspartially offset by depreciation of JPY andinterest income.(C) Valuations were performed byindependent professional valuers for allinvestment properties as at 31 December 2025.During the year, the Group has recognised anet change in fair value of investmentproperties of $42.0 million in the Statement ofTotal Return, which includes fair value gain of$64.7 million offset by impact from straight-line rental adjustments and amortisation ofright-of-use assets amounting to $22.7 million.11 %FY 2024FY 2025(S$’000)7.6145,268156,294Gross revenue (A)8.0136,597147,484Net property income (A)19.3(18,080)(21,578)Trust expenses1 4.77,1597,493Foreign exchange gain (net)27.3(11,081)(14,101)Finance costs (net)2 (B)n.m.-31Other incomen.m.5,178(3,785)Net change in fair value of financial derivatives n.m.(18,037)42,026Net change in fair value of investment properties3(C)n.m.-123Gain on disposal of investment property(17.3)(6,695)(5,538)Income tax expense 60.195,041152,155Total return for the period after tax before distribution1,346(3,622)(52,374)Distribution adjustments4 9.191,41999,781Amount available for distribution2.514.92 cents15.29 centsDistribution per unit (DPU)1. Include management fees2. Net off interest income3. Includes effect of recognising rental income on a straight-line basis over the lease term of the investment properties i.e.effective rent. There is no distribution impact arising from effective rent treatment4. Distribution income is net of amount retained for capital expenditure ($3m p.a.). Distribution adjustments are largely on net change in fair value of financial derivatives & investment properties, financing costs incurred for Capex, effects of recognising rental income on a straight-line basis and temporary differences5. Referring to the new 20.4-year master lease agreements for its three Singapore hospitals and the 20-year lease agreements for the 3 Japan nursing home (More Habitation) properties
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Consolidated Statements of Financial Position 1. Includes financial derivatives, trade and other receivables2. Includes unamortised transaction costs; excludes lease liabilities3. Includes financial derivatives, security deposits, lease liabilities, deferred income, deferred tax liabilities, trade and other payables12 FY 2024FY 2025Assets and Liabilities (S$’000)2,464,7642,573,340Investment Properties (A)29,471 47,771Cash and cash equivalents (B)56,91231,867Other Assets1 2,551,147 2,652,978Total Assets884,040883,448Loans and Borrowings2 (C)97,15599,173Other Liabilities3 981,195982,621Total Liabilities1,569,952 1,670,357 Net Assets / Unitholders’ Funds2.412.56Net Asset Value (NAV) per unit ($)3.754.08Unit Price ($)+55.6+59.4Premium to NAV (%) (A) The increase in investment properties waslargely due to the valuation gain (net of Capex)on the property portfolio. This was partiallyoffset by the depreciation of the Japanese Yenand divestment of the Malaysia portfolio whichwas completed on 12 August 2025.(B) The increase in cash and cash equivalents wasmainly contributed by net cash from operatingactivities (enlarged portfolio) offset by cashoutflow on capital expenditure.(C) Apart from depreciation of the JPY, theoverall decrease in total loans and borrowingswas also attributed to a new 7-year committedand unsecured loan facility drawn down by theGroup amounting to JPY6,250 million(approximately $51.5 million) to pre-emptivelytake out a maturing $81.8 million loan that hadan accompanying SGD/JPY cross currency interestrate swap which matured in September 2025,partially offset by the net drawdown of $59.4million for funding of capital expenditure andworking capital purposes. With that, there is nolong-term debt refinancing needs till October2026.
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45,81049,85842,00044,00046,00048,00050,00052,0002H 20242H 2025 91,41999,78180,00085,00090,00095,000100,000105,000FY 2024FY 2025 Distributable Income to Unitholders 13 2H DI (S$’000)Full Year DI (S$’000)Higher Year-on-Year DistributionHigher Year-on-Year Distribution DI grew by 8.8% and 9.1% to $49.9 million and $99.8 million for 2H 2025 and FY2025 respectively.
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7.6401 July 2025 to 31 December 2025ParkwayLife REITDistribution Details 14 Stock CounterDistribution PeriodDistribution Per unit (cents)9 February 2026Ex-Date:(Units will be traded ex-date)10 February 2026 at 5pmBooks Closure Date:10 March 2026Distribution Payment Date: Distribution Table
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6.326.837.748.799.6010.31210.7511.5211.7912.1212.4612.8713.1913.7914.0814.3814.7714.9215.291.5030.8940.002.004.006.008.0010.0012.0014.0016.0018.00Un-interrupted Recurring DPU Growth Since IPO 1. Since IPO till FY20252. Since FY2012, S$3.0 million per annum of amount available for distribution has been retained for capital expenditure 3. One-off divestment gain of 1.50 cents (S$9.11 million) relating to the divestment of seven Japan assets in December 2014 was equally distributed over the four quarters in FY20154. One-off divestment gain of 0.89 cents (S$5.39 million) relating to the divestment of four Japan assets in December 2016 was equally distributed over the four quarters in FY201715 DPU (cents) DPU has grown steadily at a rate of 141.9%1since IPO13.2913.35
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Unit Price Relative PerformanceIn 3Q 2025, PLife REIT was included in the (i) iEdge Singapore Next 50 Index and (ii) iEdge Singapore Next 50 Liquidity Weighted Index newly launched by the SGX.The unit price’s performance has underperformed the STI Index and S-REIT Index. 16
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Strong Total Return Since IPO 17The total return of 391% on invested equity was contributed by: • appreciation of unit price since IPO; and • total distribution to Unitholders since IPO Total return since IPO: 391%IPO unit price$1.28Unit price as at31 December 2025$4.08At ListingAs at 31 December 2025$2.1986Total DPU received/receivablesince IPO1 1. Includes 2H 2025 DPU which is payable to the Unitholders on 10 March 2026.
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(“PLife REIT”) PropertyPortfolio 18
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PLife REIT Portfolio – As at 31 December 2025One of the largest listed healthcare REITs in Asia with an enlarged portfolio of S$2.57 billion1Core Strengths:Defensive long term lease structure with downside protectionStable income stream supported by regular rental revisionDiversified portfolio of high quality and yield accretive propertiesWell-positioned in fast growing healthcare sector within the Asia-Pacific region and Europe 191. Based on latest appraised values (excludes right-of-use assets)2. Based on Gross Revenue as at 31 December 2025 on contracted rent (excludes effective rent adjustment for properties on step-up lease arrangements) 3. Based on existing lease agreements and subject to applicable laws74Properties31Lessees2.57S$ billionPortfolio Size14.49YearsWeighted Average Lease to Expiry(by gross revenue)90.0%With Downside Protection3(by gross revenue)60.8%Singapore30.4%JapanProperties (by gross revenue)28.8%France
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Lease Expiry Profile Tenant Base (by Gross Revenue)2 Asset Mix and Geographical Diversification (by Asset Value)1Nursing Homes, 32.2%Hospitals and Medical Centres,67.8% France, 6.9%Japan, 25.3%Singapore, 67.8% 1.7%2.0%0.0%1.5%1.8%2026 2027 2028 2029 2030Not more than 3.0% of leases due to expire each year for the next 5 Years201. Based on latest appraised values (excludes right-of-use assets) with exchange rates as at 31 December 20252. Based on Gross Revenue as at 31 December 20253. Subsidiaries / Affiliates of Habitation Group4. Previously known as K.K. AlphaBetta Sound Portfolio Constitution for Revenue SustainabilityPLife REIT Portfolio – As at 31 December 2025 60.8%8.8%4.9%4.5%2.0%1.8%1.5%1.4%1.3%1.2%Parkway Hospitals Singapore Pte. Ltd.DomusViK.K. Sawayaka ClubK.K. HabitationFuyo Shoji Kabushiki KaishaK.K. EtoileMiyako Enterprise Co., Ltd.K.K. BISCUSSRiei Co., LtdMedical Corporation Kenkou Choju-kaiTop 10 Tenants3334
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Pro Forma DPU (cents) (as if the Proposed Transaction was completed on 1 January 2020) Pro Forma NAV per Unit (S$) (as if the Proposed Transaction was completed on 31 December 2020) Pro Forma Gearing (%) (as if the Proposed Transaction was completed on 31 December 2020) Singapore Portfolio Income Certainty with Renewal Term of 20.4 years from 23 August 2022 till 31 December 2042. Organic Growth with Clear Rent Structure (Refer to Slide 23) Renewal Capex Works of S$150 million (exclusive of GST) will enhance the quality positioning and increase competitiveness of PLife REIT and Master Lessee ROFR over a quality asset, Mount Elizabeth Novena Hospital Property, for a period of 10 years Positive impact to DPU and NAV; gearing remains at a healthy level (Refer to illustration below) 21 Strengthened and well-positioned to ride on growth potential of Singapore healthcare industry with the latest master lease renewal1 Gleneagles Hospital Parkway East Hospital Mount Elizabeth Hospital A portfolio of 3 strategically-located world-class local private hospitals worth S$1.74 billion2 1. On 30 September 2021, PLife REIT received 99.99755% Unitholders’ approval at the EGM for the proposed transaction on the master lease renewal of the Singapore Portfolio The transactional agreements were duly executed on 13 October 2021. For more details, please refer to the SGX-ST announcements issued on 30 September 2021 and 13 October 2021 2. Based on latest appraised values (excludes right-of-use assets) 3. The Pro Forma Financial were prepared based on assumptions such as a 1.0% CPI, no additional acquisitions, and stable expenses levels. This should be read with the Notes provided under the respective tables in paragraph 2.14 of the Circular dated 8 September 2021 4. Refers to higher rental contribution from Singapore hospitals (based on minimum rent computed for 2026) arising from Annual Rent Review Formula applicable from FY2026 onwards Key Highlights Pro Forma Financial Effects (for illustration only)3 and impact of higher contribution from SG Hospitals
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Master Lessee, Parkway Hospitals Singapore Pte. Ltd., is a wholly owned subsidiary of IHH Healthcare Berhad (“IHH Group”), one of the world’s largest healthcare network with over 80 hospitals across 10 countries 22 1. The information is extracted from IHH corporate website as at 31 December 2025.2. Source: Bursa (Malaysia) announcement on IHH Healthcare Bhd, Factset. 1. Mitsui&Co., Ltd (Mitsui)2. Khazanah Nasional Berhad (Khazanah)3. IHH Healthcare Berhad (IHH)4. Parkway Life Real Estate Investment Trust (Parkway Life REIT)5. Parkway Trust Management Limited (PTML)6. Parkway Hospitals Singapore Pte Ltd (PHSPL)7. As at 31 December 2025Master LesseePHSPL6Parkway Life REIT4Mitsui1Khazanah2IHH3The Manager(PTML)5Wholly-owned subsidiary of IHHSingapore HospitalsApprox. 32.69%Approx. 25.85%Approx.32.94%100%Ownership of AssetsManagement & Other Services 32.69% owned by Mitsui & Co., Ltd, rated (P)A3by Moody’s, is Japan’s 2nd largest trading company by assets25.85% owned by Khazanah, the investment holding arm of the Government of MalaysiaDual listing in Malaysia and Singapore on 25 July 2012 with a market capitalization of approximately S$24.5 billion as at 31 December 2025In IHH Singapore, it operates Mount Elizabeth Hospital, Mount Elizabeth Novena Hospital, Gleneagles Hospital, Parkway East Hospital, Parkway Shenton chain of primary care clinics, Parkway Rehab, Parkway Radiology, Parkway Laboratories and Parkway Emergency ServicesIn IHH Malaysia, it operates 11 Pantai hospitals, 4 Gleneagles hospitals, Prince Court Medical Centre, Timberland Medical Centre, Island Hospital, Premier Integrated Labs (formerly known as Pantai Premier Pathology) and Pantai Integrated Rehab, an ambulatory care centreApproximately 90.0% shareholding in Acibadem (Türkiye & Europe) as at 31 December 2025Acquired 31.1% in Fortis Healthcare (India) through preferential allotment in November 2018 About IHH Group1Singapore Portfolio Operated by Master Lessee
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Singapore Portfolio 231. Except Property Damage Insurance for Parkway East Hospital2. The annual rent review formula for FY2026 is based on the higher of {1+(CPI+1%) X Initial Rent of S$97.2 million} or {Base Rent + Variable Rent}3. AHR denotes the Adjusted Hospital Revenue for the respective period of each of the hospitals4. CPI denotes the % increase in the Consumer Price Index announced by the Department of Statistics for the relevant year compared to the immediately preceding year {1+ (CPI4+1%)}xPreceding Year’s Rentwhere CPI is negative, it shall be deemed as zero Long-term Master Leases with Parkway Hospitals Singapore (“PHS”)Renewal term of 20.4 years from 23 August 2022 to 31 December 2042. Option to renew for a further term of 10 years c.f. average industry lease period of 3-5 years100% committed occupancyTriple Net Lease Arrangement PLife REIT does not bear these costs - Property tax, Property insurance1, Property operating expensesNot affected by inflation-related escalating expensesFavorable Lease StructureHigher rental contribution from Singapore hospitals arising from Annual Rent Review Formula2applicable from FY2026 onwardsFollowing the annual fixed rent step up from 2023, minimum rents are guaranteed to increase from S$79.7mil in FY2025 to S$99.1mil in FY2026 resulting from the CPI-linked escalationActual rent payable in FY2026 is expected to increase by at least 24.3%; with potential for further rental upside if the performance of Singapore hospitals exceeds minimum rent 75.177.479.799.13.0% 3.0%3.0%24.3%0.0%5.0%10.0%15.0%20.0%25.0%30.0%0.030.060.090.0120.0FY2023 FY2024 FY2025 Min. Rent FY2026S$’000 Aggregate Rent Payable for the Properties % change vs preceding period/yearBase Rent + Variable Rent(3.8%of AHR)PHS to pay higher of (1) or (2) Distinct Lease Features Underpins Sustainable and Quality Rental GrowthFY2026 Min. Rent Payable Annual Rent Review Formula (from FY2026)12
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24 60 high quality nursing home properties worth S$650.0 million1Unique Lease FeaturesLong term lease structure with weighted average lease term to expiry of 10.48 years2Approximately 96.0% of revenue from Japan portfolio is downside-protected3“Up only”3Rental Review Provision for most of the nursing homesSecurity Deposits are secured for all properties; average of approx. 4 months’ of gross rentalBack-up operator arrangement for most of our Japan propertiesRental guarantees4provided for several properties 97.7% committed occupancyWell-diversified across 17 Prefectures Nursing Home Properties strategically located in dense residential districts in major citiesComply with strict seismic safety standards and covered by earthquake insurance on a country-wide consolidated basis “Up only”3Rent ReviewProvision formost of ournursing homes4 properties havemarket revision every 2 to 3 years subject to Lessor/Lessee mutual Agreement 4.0%of Japan Gross Revenue254properties5have market revisionwith downsideprotection396.0%of JapanGross Revenue2 Japan Portfolio 1. Appraised values based on exchange rates as at 31 December 20252. Based on Gross Revenue as at 31 December 20253. Based on existing lease agreements and subject to applicable laws 4. Vendors providing rental Guarantees include K.K. Bonheure, K.K. Uchiyama Holdings, Miyako Kenkoukai, K.K. Excellent Care System , K.K. Habitation and K.K. Living Platform 5. Contractually, rent review applies to 53 properties every 2 to 5 years; while 1 property may only be reviewed if the rent is deemed significantly inappropriate. However, all rent reviews remain subject to applicable laws and regulation in Japan.
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Japan Portfolio – Key TenantsK.K. Sawayaka ClubPart of the listed company Uchiyama Holdings Co., Ltd Market capitalisation about JPY7 billion (~S$61 million)Currently operates over 121 care services facilities with 4,403 employees1The largest private nursing home operator in Kyushu and one of the largest in Japan (by number of rooms)PLife REIT has a Right of First Refusal over future sales of nursing homes owned by UchiyamaK.K. Habitation2Well established operator based in FukuokaOperates 11 Mid to High-end Nursing facilities in Fukuoka and Chiba3Habitation group operates over 15 properties and employs over 1000 employees3Top 50 Operator in Japan (by number of rooms)K.K. Etoile4Owned by Yoshimei, a major laminated wood producer started in 1950s with more than 125 employeesStrong credit ratingDiversified into other industries (i.e. logistics, construction, hydropower & healthcare).Acquired the nursing home operations in 2023 to mark their first entrance into the healthcare industry Monthly Rental ContributionDiversified tenant base across 29 lesseesTop 3 tenants contribute less than 40% of the Japan Portfolio’s Revenue, spread across 60 properties 1.According to information available on the Sawayaka Club website.2.Fuyo Shoji Kabushiki Kaisha and K.K. Hakusho are subsidiary companies of K.K Habitation3.According to information available on Habitation website4.Previously known as K.K. AlphaBetta22 K.K. Sawayaka Club, 16.2%K.K. Habitation, 14.8%Fuyo Shoji Kabushiki Kaisha, 6.5%K.K. Etoile , 5.8%Miyako Enterprise Co., Ltd., 5.0%K.K. BISCUSS, 4.5%Riei Co., Ltd, 4.2%Medical Corporation Kenkou Choju-kai, 3.9%Japan Amenity Life Association, 3.8%Blue Care KK, 3.7%K.K. Zen Wellness, 3.4%Green Life Higashi Nihon, 2.8%K.K. Taijyu, 2.7%K.K. Hakusho, 2.6%Iryohoujin Shadan Kouaikai, 2.3%Miyako-Kenkoukai Medical Corporation, 2.2%K.K. Kokanomori, 2.2%Benesse Style Care Co., Ltd, 2.1%Medical Corporation Shojin-kai, 1.9%Others (operators contributing less than 2%), 9.2%2 25
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France PortfolioStrategically Located Nursing Homes Backed by Favourable Lease Terms 1. Lease terms of the Properties commenced on 20 December 2024 and include indexed rent escalations Freehold Nursing Homes Well-Located across FranceBedsCommitted Occupancy100%85011Key Highlights Years Lease Term112 Paris101131479Bourgogne-Franche-ComtéGrand EstAuvergne-Rhône-AlpesOccitanieNouvelle-AquitaineNormandie No. of Beds 551047283767361838288 735682DomusViSale and Leaseback with leading Pan-European Operator 26
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Forging a Long-Term Strategic Partnership with a Leading Pan-European Operator for our France PortfolioDomusVi – Strategic Partner and Reputable Pan-European Operator Source: DomusVi1. EHPAD refers to care homes for dependent elderly people in France. Experienced and Credible OperatorFounded in France in 1983, DomusVi is one of the largestproviders of nursing home services in EuropeYears of Operation and Counting40… and Latin AmericaConsistently Growing in CapacityExtensive International Presence Total Facilities590+DomusVi cares for over 100,000elderly people in 8countries in Europe DomusVi is the second largest nursing home operator in France and the third largest nursing home operator in Europe with over 40 years of experienceNo. of Private EHPAD1facilities1802612018 2022 27
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Strategic Foray into the European region with anAcquisition of 11 Nursing Homes Properties in France 1. Lease terms of the Properties commenced on 20 December 2024 and include indexed rent escalations2. A rounded Purchase Price figure has been used for the purpose of this Business Update. The exact Purchase Price is €111,241,178.3. At an exchange rate of S$1.00 : €0.664. Independent property valuation carried out by Cushman & Wakefield Valuation France as at 31 December 2025 11 freeholdnursing homes in France acquired on 20 December 2024AcquisitionWell located across six regions (Bourgogne-Franche-Comté, Nouvelle-Aquitaine, Occitanie, Grand Est, Normandie and Auvergne-Rhône-Alpes) in FranceLocation of PortfolioLeading Pan-European operator, DomusVi Group, will operate the properties under a sale and leaseback arrangementFavourable lease terms of 12 years1FavourableLease Terms€111.2m (S$157.3m)3Purchase Price2€117.5m (S$177.8m)3Valuation4Expected Completion Date28
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(“PLife REIT”) GrowthStrategy 29
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PLife REIT’s Growth Strategy 30 Supported byWith the aim to:TARGETED INVESTMENTBuild strategic long term partnership with quality local lessee/operatorExpand in growing healthcare markets particularly countries the REIT has investments Partnership ApproachClustering ApproachASSET RECYCLING AND DEVELOPMENTRe-balance and optimize PortfolioBuild sustained pipelinesPROACTIVE ASSET MANAGEMENTSustain RevenueGrow revenue organicallySupport generation ofnew revenueMinimise short or near term refinancing risksDiversify funding sources and maintain an optimal capital structureMitigate financial risks with prudent risk management measures Enhance value of properties and maximise risk-adjusted returns;Deliver regular, stable distributions and achieve long-term growth for our UnitholdersDYNAMIC CAPITAL AND FINANCIAL MANAGEMENTStaying Prudent & Focused
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31 PLife REIT is a specialised REIT where:Establish a country HQ for closer monitoring and management of its portfolio of propertiesStructure its investment holdings to take advantage of tax or regulatory benefits where availableLease terms tend to be long (typically > 10 years) Lessee/operator tend to specialise in their area of operationProperties tend to be purposed-built(e.g.hospital, nursing home, medical centre)1 23Deepen/initiate collaboration with existing/new partners for long term working relationship Imperative for PLife REIT to achieve economies of scale in its countries of investment in order to:12 PARTNERSHIPCLUSTERING Strategic Investment Approach Seek to unlock value from optimized/non-core asset in existing markets & invest in good strategic assets
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Leverage on PLife REIT’s first mover advantage and strong network in Japan for expansion.Build a 3rd Key Market which can contribute enhanced growth for PLifeREIT in the mid to long term.Foster multiple partnerships with strategically aligned parties for collaborative growth and expansion.32 Next Phase of GrowthEstablishing a Multi-Pronged Growth PlatformSTRENGTHEN EXISTING MARKETSBUILD 3RDKEY MARKETFOSTER STRATEGIC PARTNERSHIPS
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(“PLife REIT”) Capital &Financial Management33
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Capital & Financial Management Strategy 34 Acquisition financing has to be long-term: at least 3 years or moreMitigates refinancing risk post acquisitionMaintain an unencumbered portfolio for financing flexibilityAll new and existing banks will be ranked pari passu. May consider asset-level financing if tax and pricing considerations are optimalDiversify funding sources Traditional funding sources via bank loans and capital market financing products. May explore other non-traditional funding sources (e.g. perpetual bonds, convertible bonds, equity etc.) Adopt natural hedge financing strategy to achieve stable net asset valueMatch asset currency with financing currency to mitigate principal forex risks arising from overseas acquisitionsAim to achieve at least 50% natural hedge on the portfolio basis; remaining 50% depending on the interest rate differential and nature of the currency involved Prudent financial risk management strategy for distribution stabilityMitigates risks from adverse interest rate and forex fluctuationsHedge at least 50% of interest rate and forex exposures on the net income from foreign investments. Aim to have no more than 30% of the total debts due in a single year, to avoid bunching effect and concentration riskConstantly monitoring the market to extend the debt maturity period 5 Key Principles
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Debt Maturity Profile1– As at 31 December 2025 1. Excludes lease liabilities, if any. 2. As at 31 December 2025, short term loan amounted to JPY2,947 million ($24.3m) was drawn down for working capital purposes. 35 Current weighted average term to maturity of 3.0 years
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Debt Headroom Healthy gearing1of 33.4% as at 31 December 2025Ample debt headroom of $557.6 million and $878.5 million before reaching 45% and 50%2gearing respectively. 1. Total Debts (exclude lease liabilities, if any) before transaction costs ÷ Total Assets2. With effect from 28 November 2024, the gearing limit for S-REITs shall be 50% with a minimum ICR of 1.5x.36 557.6878.533.4%Gearing45%Gearing50%GearingDebt Balance as at31 December 2025Asset(S$’million)886.2886.2886.2
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(“PLife REIT”) Appendix(Property Information) 37
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Our Portfolio – Summary (as at 31 December 2025) 1. Single Lease Agreement for Habitation Hakusho and Group Home Hakusho. Two Lease Agreements for Sompo no le Nakasyo2. Based on latest appraised values as at 31 December 2025; at an exchange rate of S$1.00 : ¥121.4 and S$1.00 : €0.66.3. Two Lease Agreements for Residence La Boetie & Residence Montaigne38 FranceJapanSingaporePortfolio11 nursing homes60 nursing homes3 Hospitals & Medical CentresType11 Freehold59 Freehold, 1 Leasehold 3 LeaseholdLand Tenure42,631247,246118,136Floor Area (sq m)1970 to 20221964 to 20241979 to 1993Year of Completion100%97.7%100%Committed Occupancy12 Leases3;1 Lessee58 Leases1; 29 Lessees3 Leases;1 Master LesseeLeases/Lessees20242008 to 20242007Year of Acquisition€117.5m(S$177.8m)¥78,880m (S$650.0m)S$1,743.5mAppraised Value2
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Our Portfolio – Singapore 1. Based on strata area of Mount Elizabeth Hospital and Gleneagles Hospital owned by PLife REIT. Gross floor area for Parkway East Hospital Parkway East HospitalGleneagles HospitalMount Elizabeth HospitalPortfolioHospital and Medical CentreType75 years75 years67 yearsLand Tenure10,99449,00358,139Floor Area (sq m) 1 100%69.05%56.71%OwnershipHospital Building (1982)Medical Centre (1987)Hospital Building (1991 & 1993)Annex Block (1979)Medical Centre (1991 & 1993)Hospital Building (1979)Medical Centre (1979 & 1992)Year of Completion100%Committed OccupancyParkway Hospitals Singapore Pte LtdName of Lessee(s)S$133.0mS$595.9mS$1,014.6mAppraised Value 39
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. On 1 April 2012, Benesse Style Care Co., Ltd merged as the surviving company with Bon Sejour Corporation3. Formerly known as More Habitation Akashi 4. Previously known as K.K. AlphaBetta Etoile Akashi3Bon Sejour Yokohama Shin-YamashitaPortfolioNursing HomeTypeFreeholdFreeholdLand Tenure5,8911,653Land Area (sq m)6,5623,273Floor Area (sq m)9174Number of Units (Rooms)1987;Conversion works were completed in 20032006Year of Completion100%100%Committed OccupancyK.K. Etoile4Benesse Style Care Co., Ltd2Name of Lessee(s)29 September 200830 May 2008Date of Acquisition¥1,830m (S$15.1m) ¥1,800m (S$14.8m) Appraised Value140
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Formerly known as More Habitation Suma Rikyu3. As at 31 March 2009, total number of units increased from 107 to 1084. Previously known as K.K. AlphaBetta5. Change of name with effect from 1 May 2013 due to organizational restructuring by Green Life Co., Ltd, parent company of Medis Corporation41 Smiling Home MedisMusashi UrawaSenior ChonaikaiMakuhari KanEtoile Suma Rikyu2PortfolioNursing HomeTypeFreeholdFreeholdFreeholdLand Tenure8022,8532,676Land Area (sq m)1,6034,3614,539Floor Area (sq m)44108359Number of Units (Rooms)1991; Conversion works were completed in 20041992; Conversion works were completed in 20041989Year of Completion100%Committed OccupancyGreen Life Higashi Nihon5Riei Co., LtdK.K. Etoile4Name of Lessee(s)29 September 2008Date of Acquisition¥851m (S$7.0m) ¥1,890m (S$15.6m) ¥1,110m (S$9.1m) Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Change of name with effect from 1 May 2013 due to organizational restructuring by Green Life Co., Ltd, parent company of Medis Corporation3. Change of name with effect from 7 March 2016 due to acquisition of Message Co. Ltd by Sompo Holdings, Inc.4. Affiliate of Miyako Enterprise42 Maison des Centenaire IshizugawaSompo no Ie NakasyoSmiling Home MedisKoshigaya GamoPortfolioNursing HomeTypeFreeholdFreeholdFreeholdLand Tenure1,1112,9011,993Land Area (sq m)2,1293,2313,834Floor Area (sq m)5275100Number of Units (Rooms)1988;Conversion works werecompleted in 200320011989;Conversion works werecompleted in 2005Year of Completion100%Committed OccupancyMiyako Kenkokai Medical Corporation4Sompo Care Inc.3Shakai Fukushi Houjin Keiyu – KaiGreen Life Higashi Nihon2Name of Lessee(s)17 November 200929 September 2008Date of Acquisition¥865m (S$7.1m) ¥733m (S$6.0m) ¥1,670m (S$13.8m) Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Increase in NLA by 40m2 upon the completion of AEI in February 20143. Affiliate of Miyako Enterprise4. Change of name with effect from 1 May 2013 due to organizational restructuring by Green Life Co., Ltd, parent company of Care Link Co., Ltd43 Iyashi noTakatsuki KanFiore SeniorResidence HirakataHapine FukuokaNokeMaison des CentenaireHarukiPortfolioNursing HomeTypeFreeholdFreeholdFreeholdFreeholdLand Tenure2,0237271,396801Land Area (sq m)3,95621,1552,9121,263Floor Area (sq m)87406436Number of Units (Rooms)1997;Conversion works were completed in 2005200720061996;Conversion works were completed in 2006Year of Completion100%Committed OccupancyRiei Co., LtdK.K. VivacGreen Life Co. Ltd4Miyako Kenkokai Medical Corporation3Name of Lessee(s)17 November 2009Date of Acquisition¥1,690m (S$13.9m)¥552m (S$4.5m) ¥984m (S$8.1m) ¥571m (S$4.7m) Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.444 Sawayaka ShinmojikanSawayaka Obatake NibankanSawayaka Obatake IchibankanPortfolioNursing HomeShort stay / Day care facilityNursing HomeTypeFreeholdFreeholdFreeholdLand Tenure2,3951,0471,769Land Area (sq m)5,0941,5383,491Floor Area (sq m)1122678Number of Units (Rooms)200720072007Year of Completion100%Committed OccupancyK.K. Sawayaka ClubK.K. Sawayaka ClubK.K. Sawayaka ClubName of Lessee(s)17 June 2010Date of Acquisition¥1,110m (S$9.1m) ¥417m (S$3.4m) ¥869m (S$7.2m) Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Formerly known as Fureai no Sono Musashi Nakahara3. Change of name with effect from 1 March 2020 due to acquisition of Y.K Shonan Fureai no Sono’s operations by K.K. Japan Amenity Life Association45 Hanadama no le Nakahara2As Heim NakaurawaSawayaka SakurakanSawayaka NogatakanPortfolioNursing HomeTypeFreeholdFreeholdFreeholdFreeholdLand Tenure9351,7646,2762,702Land Area (sq m)1,8472,7125,0443,147Floor Area (sq m)476411078Number of Units (Rooms)2006200620062005Year of Completion100%Committed OccupancyK.K. Japan Amenity Life Association3As Partners Co., LtdK.K. Sawayaka ClubK.K. Sawayaka ClubName of Lessee(s)16 July 201017 June 2010Date of Acquisition¥944m (S$7.8m) ¥1,130m (S$9.3m) ¥962m (S$7.9m) ¥835m (S$6.9m) Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Formerly known as Heart Life Toyonaka3. Formerly known as More Habitation Kobe Kitano4. Previously known as K.K. AlphaBetta46 Etoile Kobe Kitano3Happy Life Toyonaka2Sawayaka HigashikagurakanSawayaka FukufukukanPortfolioNursing HomeTypeFreeholdFreeholdFreeholdFreeholdLand Tenure1,0346284,8131,842Land Area (sq m)3,9641,2545,4673,074Floor Area (sq m)704211072Number of Units (Rooms)1992;Conversion works were completed in 2003200720102008Year of Completion100%Committed OccupancyK.K. Etoile4K.K. Nihon Kaigo Iryo CenterK.K. Sawayaka ClubK.K. Sawayaka ClubName of Lessee(s)12 July 20136 March 201228 January 2011Date of Acquisition¥1,690m (S$13.9m)¥585m (S$4.8m)¥1,050m (S$8.7m) ¥730m (S$6.0m) Appraised Value1
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Our Portfolio – Japan 47 Sawayaka Mekari NibankanSawayaka MinatokanSawayaka NiihamakanSawayaka Seaside TobaPortfolioNursing HomeTypeFreeholdFreeholdFreeholdFreeholdLand Tenure1,3543,5514,1972,803Land Area (sq m)2,1332,2467,3827,360Floor Area (sq m)6150135129Number of Units (Rooms)2012201020122012Year of Completion100%Committed OccupancyK.K. Sawayaka ClubK.K. Sawayaka ClubK.K. Sawayaka ClubK.K. Sawayaka ClubName of Lessee(s)30 September 2013Date of Acquisition¥353m (S$2.9m)¥788m (S$6.5m) ¥1,520m (S$12.5m) ¥1,610m (S$13.3m) Appraised Value1 1. At an exchange rate of S$1.00 : ¥121.4
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.448 Maison des CentenaireOhhamaSunhill MiyakoMaison des CentenaireHannanSawayaka KiyotakanPortfolioNursing HomeExtended-stay lodging facilityNursing HomeTypeFreeholdFreeholdFreeholdFreeholdLand Tenure1,28110,8677,8272,597Land Area (sq m)1,7174,2994,3315,661Floor Area (sq m)473495108Number of Units (Rooms)1990199620102013Year of Completion100%Committed OccupancyMiyako Enterprise Co., LtdMiyako Enterprise Co., LtdMiyako Enterprise Co., LtdK.K. Sawayaka ClubName of Lessee(s)28 March 201430 September 2013Date of Acquisition¥688m (S$5.7m) ¥801m (S$6.6m) ¥1,670m (S$13.8m) ¥1,050m (S$8.7m)Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Total land area for the integrated development3. Strata area of the Property owned by PLife REIT4. Change of name with effect from 1 June 2019 due to acquisition of K.K. Ouekikaku by K.K. Japan Amenity Life Association5. Change of name due to Corporate Split with effect from 1 Oct 2020 (Formerly K.K Living Platform)49 Liverari Shiroishi Hana Nigo-kanLiverari Shiroishi Hana Ichigo-kanOcean View Shonan ArasakiHabitation JyosuiPortfolioNursing HomeTypeFreeholdFreeholdFreeholdFreeholdLand Tenure4366283,0673,2592Land Area (sq m)7471,0515,3046,0763Floor Area (sq m)24487987Number of Units (Rooms)1990201120072005Year of Completion100%Committed OccupancyK.K Living Platform Care5K.K Living Platform Care5K.K. Japan Amenity Life Association4K.K. HabitationName of Lessee(s)23 March 20156 January 201512 December 2014Date of Acquisition¥192m (S$1.6m) ¥377m (S$3.1m) ¥2,130m (S$17.6m)¥3,590m (S$29.6m)Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Formerly known as Liverari Misono3. Hakata I on 1984, Hakata II on 1995, Hakata III on 2003 4. Silver Heights Hitsujigaoka Ichibankan on 1987 and Nibankan on 19915. Change of name due to Corporate Split with effect from 1 Oct 2020 (Formerly K.K Living Platform)50 Silver Heights HitsujigaokaIchibankan and NibankanExcellent TenpakuGarden HillsHabitation Hakata I, II, IIISunny Spot Misono2PortfolioNursing HomeGroup HomeTypeFreeholdFreeholdFreeholdFreeholdLand Tenure5,6946,59315,336429Land Area (sq m)9,0134,00021,415724Floor Area (sq m)1239431820Number of Units (Rooms)1987 to 1991420131984 to 200331993Year of Completion100%Committed OccupancyK.K. Silver Heights SapporoK.K. KokanomoriK.K. HabitationK.K. Challenge Care5Name of Lessee(s)31 March 201623 March 201523 March 201523 March 2015Date of Acquisition¥1,330m (S$11.0m) ¥1,860m (S$15.3m)¥4,130m (S$34.0m)¥222m (S$1.8m) Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Formerly known as Habitation Wakaba3. Formerly known as Hakusho no Sato4. Subsidiary of Habitation Group5. Legal action has been taken against the previous operator. A new replacement operator has been secured and will take over upon the completion of the legal proceedings as well as receiving the authorities' approval to operate. 51 Habitation Hakusho3Live In Wakaba2SankoKikuya WarakuenPortfolioNursing HomeTypeFreeholdFreeholdFreeholdFreeholdLand Tenure15,7066,5741,6804,905Land Area (sq m)6,9595,4312,0183,641Floor Area (sq m)1241355370Number of Units (Rooms)1986199320111964 to 2004Year of Completion100%100%N.A.5N.A.5Committed OccupancyK.K. Hakusho4K.K. TaijyuN.A.5N.A.5Name of Lessee(s)24 February 2017Date of Acquisition¥1,700m (S$14.0m) ¥2,280m (S$18.8m) ¥409m (S$3.4m)¥589m (S$4.9m)Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Subsidiary of Habitation Group52 Habitation KamagayaKonosu Nursing Home KyoseienGroup Home HakushoPortfolioNursing HomeNursing Rehabilitation FacilityGroup HomeTypeFreeholdFreeholdFreeholdLand Tenure1,9968,7152,859Land Area (sq m)5,1185,634416Floor Area (sq m)1001209Number of Units (Rooms)200620152004Year of Completion100%100%100%Committed OccupancyFuyo Shoji K.K.2Iryouhoujin Shadan KouaikaiK.K. Hakusho2Name of Lessee(s)18 December 202014 February 201824 February 2017Date of Acquisition¥1,880m (S$15.5m)¥1,780m (S$14.7m) ¥109m (S$0.9m)Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Leasehold (Chijoken) 99 years with effect from 1 November 20193. Change of name with effect March 2021 due to merger of Medical Corporation Misaki-kai and Medical Corporation Kenkou Choju-kai4. Affiliate of Habitation Group53 Orange no SatoHodaka no NiwaHaru no SatoPortfolioNursing Rehabilitation FacilityTypeLeasehold2FreeholdFreeholdLand Tenure2,37739,9554,241Land Area (sq m)4,0056,1173,568Floor Area (sq m)98100100Number of Units (Rooms)199720042000; Additional works were completed in 2016Year of Completion100%Committed OccupancyMedical Corporation Kenko Choju-kai3,4Medical Corporation Kenko Choju-kai3,4Medical Corporation Shojin-KaiName of Lessee(s)13 December 2019Date of Acquisition¥1,190m (S$9.8m) ¥1,400m (S$11.5m) ¥1,360m (S$11.2m) Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. Merger of Mirai Care (Will Mark Property) with K.K Habitation with effect from 1 October 20233. Subsidiary of Habitation Group54 Habitation Kisarazu Ichiban-kanCrea AdachiWill-Mark KashiihamaPortfolioNursing HomeTypeFreeholdFreeholdFreeholdLand Tenure5,0961,6947,298Land Area (sq m)7,0652,49914,168Floor Area (sq m)15087159Number of Units (Rooms)201720152005Year of Completion100%Committed OccupancyFuyo Shoji K.K.3K.K. Genki na KaigoK.K. Habitation2Name of Lessee(s)17 December 20219 July 2021Date of Acquisition¥3,690m (S$30.4m)¥1,400m (S$11.5m)¥3,130m (S$25.8m)Appraised Value1
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.42. A wholly-owned subsidiary of Living Platform, Ltd. 55 Blue Terrace KaguraBlue Terrace TaisetsuBlue Rise NopporoPortfolioNursing HomeTypeFreeholdFreeholdFreeholdLand Tenure2,0641,2681,921Land Area (sq m)3,7882,6082,663Floor Area (sq m)1008070Number of Units (Rooms)201620102007Year of Completion100%Committed OccupancyBlue Care K.K.2Name of Lessee(s)21 September 2022Date of Acquisition¥1,310m (S$10.8m) ¥764m (S$6.3m) ¥805m (S$6.6m) Appraised Value1
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Our Portfolio – Japan 56 Assisted Living TokeAssisted Living EdogawaPortfolioNursing HomeTypeFreeholdFreeholdLand Tenure2,2931,832Land Area (sq m)2,8242,977Floor Area (sq m)8086Number of Units (Rooms)20212021Year of Completion100%Committed OccupancyZen Wellness Co., Ltd.Name of Lessee(s)28 September 2022Date of Acquisition¥1,320m (S$10.9m) ¥1,930m (S$15.9m) Appraised Value1 1. At an exchange rate of S$1.00 : ¥121.4
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Our Portfolio – Japan 1. At an exchange rate of S$1.00 : ¥121.457 HIBISU Higashi SumiyoshiHIBISU SuitaHIBISU Shirokita KoendoriPortfolioNursing HomeTypeFreeholdFreeholdFreeholdLand Tenure1,735637722Land Area (sq m)3,8571,5341,447Floor Area (sq m)1385652Number of Units (Rooms)202420232022Year of Completion100%Committed OccupancyK.K. BISCUSSName of Lessee(s)7 August 202427 October 2023Date of Acquisition¥2,710m (S$22.3m)¥1,030m (S$8.5m) ¥915m (S$7.5m) Appraised Value1
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Our Portfolio – France 58 Les Cinq SensRésidence La Boétie & MontaigneRésidence d'AutomnePortfolio Nursing HomeType FreeholdFreeholdFreeholdLand Tenure 6,20910,1285,252Land Area (sq m) 2,8035,9422,981Floor Area (sq m) 7210455Number of Units (Beds) 2006 / 201720191970 / 2014Year of Completion 100%Committed Occupancy DomusViDomusViDomusViName of Lessee(s)1 20 December 2024Date of Acquisition €8.570m (S$13.0m) €14.910m (S$22.6m) €6.135m (S$9.3m) Appraised Value2 1. Lessees are special purpose vehicles under DomusVi Group 2. At an exchange rate of S$1.00 : €0.66
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Our Portfolio – France 59 La Demeure du Bois ArdentRésidence du Pyla-sur-MerRésidence DucalePortfolioNursing HomeTypeFreeholdFreeholdFreeholdLand Tenure6,43710,95910,472Land Area (sq m)3,9314,1113,886Floor Area (sq m)768373Number of Units (Beds)199519912012Year of Completion100%Committed OccupancyDomusViDomusViDomusViName of Lessee(s)1 20 December 2024Date of Acquisition€8.205m (S$12.4m) €19.260m (S$29.1m) €6.490m (S$9.8m) Appraised Value2 1. Lessees are special purpose vehicles under DomusVi Group2. At an exchange rate of S$1.00 : €0.66
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Our Portfolio – France 60 Les Jardins de SaintongeLes Jardins de CreneyRésidence du Champ de CoursesPortfolio Nursing HomeType FreeholdFreeholdFreeholdLand Tenure 9,60110,7706,744Land Area (sq m) 3,7893,0634,380Floor Area (sq m) 836173Number of Units (Beds) 1990 / 201320122022Year of Completion 100%Committed Occupancy DomusViDomusViDomusViName of Lessee(s)1 20 December 2024Date of Acquisition €9.085m (S$13.7m) €6.260m (S$9.5m) €16.485m (S$24.9m) Appraised Value2 1. Lessees are special purpose vehicles under DomusVi Group 2. At an exchange rate of S$1.00 : €0.66
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Our Portfolio – France 61 Résidence La BarillièreLe Clos RoussetPortfolio Nursing HomeType FreeholdFreeholdLand Tenure 10,5517,581Land Area (sq m) 3,7953,952Floor Area (sq m) 8882Number of Units (Beds) 2002 / 20122012Year of Completion 100%Committed Occupancy DomusViName of Lessee(s)1 20 December 2024Date of Acquisition €13.520m (S$20.5m) €8.575m (S$13.0m) Appraised Value2 1. Lessees are special purpose vehicles under DomusVi Group 2. At an exchange rate of S$1.00 : €0.66