20 Annual Report 2015/16 Mapletree Commercial Trust

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1 20 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW WEST COAST HIGHWAY MCT s portfolio comprises four properties located in Singapore s Alexandra Precinct, HarbourFront Precinct and the Central Business District (CBD). VivoCity Singapore s largest mall with 1,044,749 square feet of NLA spread over a threestorey shopping complex and two basement levels. VivoCity is positioned as a lifestyle destination for families and tourists in Singapore, offering visitors a unique waterfront shopping and dining experience. Its strategic location in the heart of the HarbourFront Precinct and exceptional connectivity allowed it to attract 53.2 million visitors in the year ended 31 March Mapletree Anson A 19-storey premium office building located in the Tanjong Pagar micromarket of the CBD with an NLA of 330,167 square feet. Mapletree Anson was completed in 2009 with Grade-A specifications and is one of the first buildings in Singapore awarded the Green Mark Platinum certification by the BCA. It is conveniently located within a two-minute walk from the Tanjong Pagar MRT Station and connected to major arterial roads and expressways. PSA Building An established integrated development with a 40-storey office block and a three-storey retail centre, Alexandra Retail Centre, with an aggregate NLA of 523,872 square feet. PSA Building s excellent location within the Alexandra Precinct, a short distance from the CBD, makes it an ideal office location for companies who prefer a quality office location outside the CBD. ARC offers a wide range of amenities and food & beverage offerings to the working population in the vicinity. Bank of America Merrill Lynch HarbourFront A premium six-storey office building with an NLA of 216,561 square feet occupied by Bank of America Merrill Lynch. Completed in August 2008, it features modern office specifications such as large and efficient column-free rectangular floor plates of approximately 46,000 square feet and integrated suspended ceiling and raised floors.

2 Strong Foundation, Resilient Future 21 AYER RAJAH EXPRESSWAY DHOBY GHAUT CITY HALL EAST COAST PARKWAY PASIR PANJANG PSA BUILDING ALEXANDRA PRECINCT LABRADOR PARK TELOK BLANGAH 10 minutes drive from CBD RESORTS WORLD SENTOSA MLHF MOUNT FABER VIVOCITY CENTRAL EXPRESSWAY HARBOURFRONT HARBOURFRONT PRECINCT OUTRAM PARK MAPLETREE ANSON RAFFLES PLACE TANJONG PAGAR MARINA BAY CENTRAL BUSINESS DISTRICT MARINA COASTAL EXPRESSWAY Major Expressways SENTOSA MRT: Circle Line East-West Line North-South Line North-East Line Downtown Line MRT Station Sentosa Express Line Map zoomed out: Singapore Changi Airport

PROPERTY OVERVIEW VivoCity VivoCity delivered a strong performance in 15/16, with revenue and NPI growing 3.7% and 7.2% respectively for the year. Full year tenant sales grew 3.

3 PROPERTY OVERVIEW VivoCity VivoCity delivered a strong performance in 15/16, with revenue and NPI growing 3.7% and 7.2% respectively for the year. Full year tenant sales grew 3.3% to reach another record of S$939 million, while annual shopper traffic totalled 53.2 million. The Manager implements a pro-active asset management and leasing strategy to constantly enhance the mall s shopping experience and to add value to tenants. During 15/16, VivoCity s first AEI was completed, creating about 15,000 square feet of prime retail space on basement 1. A second AEI on basement 2 to strengthen F&B offerings commenced in February VivoCity continued to leverage upon its unique attributes and size as large-scale exciting events were held to create distinctive experiences for all shoppers. Tenant Sales (S$m) S$939.2m 15/ Shopper Traffic 53.2m 15/ /12 12/13 13/14 14/15 15/16 11/12 12/13 13/14 14/15 15/16

24 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW VivoCity Property Information Description A 3-storey shopping complex with 2 basement levels and a 7-storey annexe carpark

5 24 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW VivoCity Property Information Description A 3-storey shopping complex with 2 basement levels and a 7-storey annexe carpark 1,044,749 square feet Net Lettable Area Number of Leases 334 Car Park Lots 2,179 Title 99 years commencing from 1 October 1997 Gross Revenue S$191.2 million Net Property Income S$145.4 million Market Valuation S$2,597 million Occupancy % Key Tenants VivoMart, Tangs, Golden Village, H&M, Kopitiam Awards and Accolades Winner, Best Suburban Shopping Centre, AsiaOne People s Choice Awards 2015 Winner, Most Family-Friendly Shopping Mall, Singapore Mother & Baby Awards Committed occupancy for VivoCity as at 31 March 2016 was 99.9%. VivoCity Lease Expiry Profile by Gross Rental Revenue VivoCity Trade Mix by Gross Rental Revenue 33.2% 22.6% 22.1% 21.6% 0.5% 16/17 17/18 18/19 19/20 20/21 and beyond Number of Leases Food & Beverage 29.4% Fashion 24.1% Fashion Related 10.7% Beauty 6.4% Lifestyle 5.9% Electronics 4.7% Hypermart/Departmental Store 8.3% Sports 4.0% Entertainment 3.1% Others 1 3.4% 1. Others includes Retail Bank, Optical, Medical, Services and Convenience.

7 26 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW VivoCity Newly created Beauty Aisle on level 1 Expanded athleisure offerings with exciting brands Expanded athleisure offerings with exciting brands New appealing retail concepts

8 Strong Foundation, Resilient Future 27 Refreshing tenant mix Spacious waterfront area for outdoor dining and other activities

9 28 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW VivoCity Exclusive and large scale activities to increase buzz Mainstay iconic events continue to draw crowds Interactive fun events for children

10 Strong Foundation, Resilient Future 29 Exciting and engaging events for families and children A destination mall for all shoppers A family-friendly mall for everyone

30 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW PSA Building Property Information Description Integrated development comprising a 3-storey retail centre and a 40-storey office

11 30 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW PSA Building Property Information Description Integrated development comprising a 3-storey retail centre and a 40-storey office building. 523,872 square feet Net Lettable Area Number of Leases 115 Car Park Lots 749 Title Leasehold 99 years wef 1 October 1997 Gross Revenue S$47.9 million Net Property Income S$36.2 million Market Valuation $740.8 million Occupancy % Purchase Price $477.2 million Date of Purchase 27 April 2011 Key Tenants Office: PSA Corporation Limited, Casino Regulatory Authority, Bank of Singapore Limited, Mapletree Investments Pte Ltd, Opus Offshore Pte. Ltd. Retail: FairPrice, KFC and Pizza Hut Express, McDonald s, Ichiban Sushi, Auntie Kim s Korean Restaurant 1. Committed occupancy for PSA Building as at 31 March 2016 was 98.5%. PSAB Lease Expiry Profile by Gross Rental Revenue PSAB Trade Mix by Gross Rental Revenue 42.8% 26.7% 4.4% 13.4% 12.8% 16/17 17/18 18/19 19/20 20/21 and beyond Number of Leases Shipping Transport 34.6% Government Related Agencies 13.9% Food & Beverage 13.4% Trading 6.4% Real Estate 6.1% Banking & Financial Services 4.7% Energy 3.8% IT Services & Consultancy 2.6% Beauty 2.3% Consumer Services 2.0% Others % 1. Others includes Hypermarket / Departmental Store, Education, Medical, Insurance, Sports and Retail Bank.

Tenants continue to recognise PSA Building s quality and view the Alexandra Precinct as an attractive alternative to the Central Business District.

12 Tenants continue to recognise PSA Building s quality and view the Alexandra Precinct as an attractive alternative to the Central Business District. With an improved suite of food and beverage offerings, as well as convenience shopping and services, ARC serves the working population in the vicinity as a complete amenities centre.

32 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW Mapletree Anson Property Information Description 19-storey office building in the CBD with Grade A building specifications

13 32 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW Mapletree Anson Property Information Description 19-storey office building in the CBD with Grade A building specifications 330,167 square feet Net Lettable Area Number of Leases 19 Car Park Lots 80 Title Leasehold 99 years wef 22 October 2007 Gross Revenue S$30.2 million Net Property Income S$24.0 million Market Valuation $690.0 million Occupancy % Purchase Price $680.0 million Date of Purchase 4 February 2013 Key Tenants J. Aron & Company (Singapore) Pte., Sumitomo Corporation Asia Pte. Ltd, Yahoo! Southeast Asia Pte. Ltd., Lend Lease Asia Holdings Pte Ltd, Allied World Assurance Company, Ltd. 1. Committed occupancy for Mapletree Anson as at 31 March 2016 was 94.7%. Mapletree Anson Lease Expiry Profile by Gross Rental Revenue Mapletree Anson Trade Mix by Gross Rental Revenue 31.3% 33.8% 23.9% 8.6% 2.4% 16/17 17/18 18/19 19/20 20/21 and beyond Number of Leases Trading 26.1% IT Services & Consultancy 25.5% Banking & Financial Services 21.2% Real Estate 9.1% Others 7.6% Insurance 7.4% Energy 3.0%

14 Mapletree Anson remains an attractive premium office building in the Tanjong Pagar micro-market. With its Grade-A building specifications such as large column-free floor plates of over 20,000 square feet per floor, Mapletree Anson has secured a strong tenant base comprising quality and well-known MNCs. Given a more competitive leasing market, the Manager has embarked on active tenant engagement and early negotiations strategy to mitigate potential downtime risks. As a result, over 42.4% of NLA was renewed and relet in 15/16 at Mapletree Anson, achieving 94.7% committed occupancy as at 31 March 2016.

34 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW Bank of America Merrill Lynch HarbourFront Property Information Description A 6-storey office building with a basement carpark

15 34 Annual Report 2015/16 Mapletree Commercial Trust PROPERTY OVERVIEW Bank of America Merrill Lynch HarbourFront Property Information Description A 6-storey office building with a basement carpark Net Lettable Area 216,561 square feet Number of Leases On long term lease to Bank of America Merrill Lynch Car Park Lots 93 Title Leasehold 99 years wef 1 October 1997 Gross Revenue S$18.5 million Net Property Income S$15.1 million Market Valuation $314.0 million Purchase Price $311 million Date of Purchase 27 April 2011 Occupancy 100% Key Tenant Merrill Lynch Global Services Pte. Ltd. Lease Expiry Profile In April 2016, the lease to Merrill Lynch Global Services Pte. Ltd. was renewed and restructured ahead of its original lease expiry in November The new lease extended its expiry for another six years from January 2017 till December 2022.

16 The long term lease with Bank of America Merrill Lynch provides an anchor for stability to the portfolio. With the lease recently restructured and renewed forward, Bank of America Merrill Lynch HarbourFront will continue to contribute positive and steady income.

Portfolio Overview. (i)

Portfolio Overview. (i) Portfolio Overview MCT s portfolio comprises four properties located in Singapore s Alexandra Precinct, HarbourFront Precinct and Central Business District. VivoCity, MLHF and PSAB were the initial assets