Keppel REIT (K71U) Investor Day 2025 presentation summary

Key financial highlights

• Net property income rose 11.8% year-on-year to $108.3m, with distributable income from operations at $95.5m, and DPU at 2.72 cents for 1H 2025.

• Strong operational performance was driven by contributions from 255 George Street and higher occupancy at 2 Blue Street.

• Aggregate leverage stood at 41.7% with a weighted average cost of debt at 3.51% p.a. and 63% of borrowings on fixed rates.

• Portfolio committed occupancy remained high at 95.9%, with a portfolio WALE of 4.8 years and positive rental reversion of 12.3%.

• Distributable income would have increased by 5.9% if management fees were paid entirely in units.

Portfolio and market overview

• $9.4b diversified portfolio across Singapore, Australia, South Korea, and Japan, with Singapore assets contributing 68.5% of attributable NPI.

• Top 10 tenants account for 30.4% of gross rent, with a strong presence in banking, insurance, and financial services.

• Singapore office market saw Grade A rents rise to $12.10 psf pm and occupancy at 94.7% in 2Q 2025.

• Australia, Seoul, and Tokyo office markets maintained stable occupancy rates above 80%, with Tokyo Grade A at 97.6%.

• New leasing demand was led by financial services, technology, and real estate sectors.

Capital and ESG management

• Sustainability-focused funding made up 84% of total borrowings, and 100% of properties (except one) are green certified.

• Seven properties are fully powered by renewable energy, and five are carbon neutral.

• MSCI ESG rating maintained at 'A', with improved rankings in governance and transparency indices.

• Well-spread debt maturity profile with no significant borrowings maturing for the rest of 2025.

• Ongoing portfolio optimisation through strategic acquisitions, divestments, and proactive leasing strategies.