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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Frasers Centrepoint Trust NEX Causeway Point Waterway Point Tampines 1 Northpoint City Tiong Bahru Plaza & Central Plaza Century Square Hougang Mall 22 October 2026 Financial Results for the Second Half and Full Year ended 30 September 2026
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Contents Teochew opera performance at Hougang Mall, Singapore 03 FY26 results highlights 05 Macroeconomics and retail market in Singapore 08 Financial highlights 16 Portfolio & AEI highlights 31 ESG 34 Looking ahead 37 Overview of FCT 41 Appendix
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Inspiring experiences, creating places for good. NEX , Singapore © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. FY26 results highlights
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. FY26 Financial Performance Portfolio Performance Retail Committed Occupancy 2 99.7 % 30 June 2026: 99.6 % Portfolio Rental Reversion 3 6.6 % 1H FY26: 6.5% Capital Management Aggregate Leverage 1 38.7 % 36.8% 4 30 June 2026: 4 0.4 % FY26 highlights DPU of 12.35 cents is at a new high; underpinned by strong operating performance Distributions to Unitholders $ 252.2 million 8. 2 % y - o - y Distribution Per Unit 12.35 cents 2.0 % y - o - y AEIs provide enhancement growth opportunities Divestment of White Sands Bayshore Drive GLS development Proactive capital recycling Completion of Hougang Mall AEI at ROI ~8% NEX AEI Phase 1 to complete in December 2026 4 Notes: 1. As at 30 September 2026. 2. As at 30 September 2026. Excludes NEX due to ongoing AEI works and White Sands which was divested on 30 September 2026. 3 . Excludes NEX due to ongoing AEI works, Hougang Mall due to AEI works in FY25 and FY26, and White Sands which was divested on 30 September 2026. On an average - to - average basis. Reversion excludes: i ) reconfigured units; ii) units where the previous tenant was re - entered/pre - terminated; iii) when the previous full - term lease expired more than 18 months ago; and Iv) restructured leases 4. Aggregate leverage post repayment of borrowings with divestment proceeds from White Sands. FY26 Cost of Debt 3.2 % 0.6% - pts FY25 : 3. 8 %
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Inspiring experiences, creating places for good. Century Square, Singapore © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Macroeconomics and retail market in Singapore
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 6 INSTRUCTIONS: text box Increase size of text from 9.5pt to 10pt or increase before & after spacing between bullet points if volume of text is lower. Unlock and adjust size of grey box as appropriate. Top banner colour: Top banner text: Synthese (9pt). Row content text: Synthese Book (8pt), left aligned in left column, right aligned in other columns. Lines and borders: Grey (hex: E6E4E4) table borders at ½ point. Inside and bottom lines, no other outside borders other than bottom. INSTRUCTIONS: table formatting E6E4E4 © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Northpoint City, Singapore Economic indicators (y - o - y change) 2025 2026 GDP 1 5.0% Q3 2026: 5.4% MAS Core Inflation 0.7% 1.5 – 2.5% 2 August 2026: 2.2% 2 Retail Sales (y - o - y change) Singapore FCT Retail sales (FYTD Oct 25 - Aug 26) 3.0% 3 1.2% F&B sales (FYTD Oct 25 - Aug 26) 0.3% 2.4% Retail rents 4 q - o - q y - o - y Orchard Road Prime retail rents 0.4% 1.8% Suburban Prime retail rents 0.3% 1.2% Outlook With future supply set to remain below historical norms in the next three years, CBRE Research expects prime retail rents to increase by 1 – 2% in 2026. 4 Notes: 1. Ministry of Energy, Trade and Industry advance estimates, Singapore’s GDP Grew by 5 . 4 Per Cent in the Third Quarter of 2026 ( 14 October 2026 ) . 2. Monetary Authority of Singapore and Ministry of Trade & Industry, Consumer Price Developments in August 2026 ( 23 September 2026 ) . 3. Singapore Department of Statistics . Based on the Retail Sales Value (Excluding Motor Vehicles, Parts & Accessories) – Estimated . 4. CBRE, Singapore Figures Q 3 2026 (refers to calendar quarter) . Singapore retail outlook Robust GDP growth and healthy rental growth underpin positive outlook Top performing trade categories (tenants’ sales) Jewellery & watches Education Food & beverage $38.35 $39.05 $32.65 $33.05 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Orchard Road Suburban Prime retail rents by submarkets 4 ($)
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Suburban retail space makes up approximately 28% of upcoming new retail supply between 2026 – 2029 Source: CBRE, Singapore Figures Q3 2026 ( refers to calendar quarter). The private retail supply pipeline between 2026 - 2029 is estimated to total around 1.7 million sf. Forecasted new supply of suburban retail space is estimated at 491,000 sf. CHART COLOURS CBBBA1 748FA3 B0B0B4 C8DDED C9D1D8 878181 C1E2DE F0ECE4 Chart highlight 0076A8 Year Proposed project Micro - market Estimated NLA (sf) 2026 Shaw Oriental (Oriental Plaza A/A) Rest of Central 36,000 140,600 CanningHill Square (Liang Court Redevelopment) Rest of Central 81,600 A141 Rest of Central 23,000 2027 Tanjong Katong Complex (A/A) - Phase 1 Fringe 180,000 575,900 Bukit V Fringe 173,400 2 Moulmein Road Fringe 31,500 Jurong Gateway Hub Suburban 40,400 Chong Pang City Suburban 45,300 Mövenpick Singapore and Mövenpick Living Singapore (Tower 15 Redevelopment) Downtown Core 22,100 TMW Maxwell (Maxwell House Redevelopment) Downtown Core 34,700 NS Square Downtown Core 48,500 2028 Parktown Tampines Suburban 107,000 414,000 One Comcentre (Comcentre Redevelopment) Orchard 71,200 The Clifford (Clifford Centre Redevelopment) Downtown Core 45,000 The Skywaters (AXA Tower Redevelopment) Downtown Core 54,300 Union Square Central (Central Mall/ Central Square Redevelopment) Rest of Central 56,700 NEX (A/A) Suburban 44,000 Robertson Opus/ Robertson Walk Rest of Central 35,800 2029 Pinery Mall Suburban 100,000 602,200 Chencharu Central Suburban 130,000 Tanjong Katong Complex (A/A) - Phase 2 Fringe 143,000 Tengah Garden Galleria Suburban 24,300 The Golden Mile (Golden Mile Complex Redevelopment) Downtown Core 121,500 One Sophia (Peace Centre/Peace Mansion Redevelopment) Rest of Central 83,400 Chart title in Synthese , black, bold (11pt), left aligned to left edge of chart X & Y Axis values in Synthese Book, black (8pt) Y Axis TITLE IN SYNTHESE , BLACK IN CAPS (8pt) Data values within chart (bar, pie or donut charts) in Synthese Book (8pt) Chart legend in Synthese , black (8pt) INSTRUCTIONS: chart typefaces 7 Top banner colour: Top banner text: Synthese (9pt – 10pt). Row content text: Synthese Book (8pt – 10pt), left aligned in left column, right aligned in other columns. Lines and borders: Grey (hex: E6E4E4) table borders at ½ point. Inside and bottom lines, no other outside borders other than bottom. INSTRUCTIONS: table formatting E6E4E4 Singapore retail outlook Future supply pipeline (NLA in sf) 105,300 99,300 121,500 384,900 143,000 85,700 151,000 254,300 71,200 140,600 92,500 83,400 2026 2027 2028 2029 Downtown Core Fringe Suburban Orchard Rest of Central
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Financial highlights Inspiring experiences, creating places for good. Northpoint City , Singapore © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 9 • Higher gross revenue and NPI mainly driven by a full 6 - month contribution from the acquisition of Northpoint Cit y South Wing which was completed in May 2025, and higher passing rents across most malls . • Distribution to Unitholders increased 3.3% y - o - y, excluding $3.0 million retained in 2H FY26 for asset enhancement initiatives and/or general corporate and working capital purposes. $’000 unless otherwise stated 2H FY26 2H FY25 Change Gross revenue 223,018 205,212 8.7% Property expenses (62,085) (60,922) 1.9% Net property income 160,933 144,290 11.5% Distributions from joint ventures 29,014 29,447 1.5% Distributions to Unitholders 127,153 123,089 3.3% Distribution per Unit (cents) 6.214 6.059 2.6% 2H FY26 financial performance DPU increased 2.6% y - o - y in 2H FY26 to 6.214 cents © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 10 • Higher NPI mainly driven by the full year contribution from the acquisition of Northpoint Cit y South Wing completed in May 2025 and higher passing rents across most malls. • Lower distributions from joint ventures were mainly due to the absence of one - off special dividend compared to last year. • Distribution to Unitholders increased 8.2% y - o - y, excluding $7.6 million retained in FY26 for asset enhancement initiatives and/or general corporate and working capital purposes. $’000 unless otherwise stated FY26 FY25 Change Gross revenue 444,886 389,603 14.2% Property expenses (123,192) (111,623) 10.4% Net property income 321,694 277,980 15.7% Distributions from joint ventures 59,639 67,534 11.7% Distributions to Unitholders 252,194 233,166 8.2% Distribution per Unit (cents) 12.350 12.113 2.0% Top banner colour: Top banner text: Synthese (9pt – 10pt). Row content text: Synthese Book (8pt – 10pt), left aligned in left column, right aligned in other columns. Lines and borders: Grey (hex: E6E4E4) table borders at ½ point. Inside and bottom lines, no other outside borders other than bottom. INSTRUCTIONS: table formatting E6E4E4 FY26 financial performance Acquisition of Northpoint City South Wing and organic growth within the portfolio were key contributors © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 11 Top banner colour: Top banner text: Synthese (9pt – 10pt). Row content text: Synthese Book (8pt – 10pt), left aligned in left column, right aligned in other columns. Lines and borders: Grey (hex: E6E4E4) table borders at ½ point. Inside and bottom lines, no other outside borders other than bottom. INSTRUCTIONS: table formatting E6E4E4 Balance sheet Robust financial position with an increase in NAV per Unit © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. $’000 unless otherwise stated 30 September 2026 30 September 2025 Non - current assets 7,254,878 7,491,651 Current assets 456,752 120,581 Total assets 7,711,630 7,612,232 Current liabilities 245,719 554,355 Non - current liabilities 2,527,230 2,316,008 Total liabilities 2,772,949 2,870,363 Net assets attributable to Unitholders 4,740,263 4,543,451 Net assets attributable to perpetual securities holders 198,418 198,418 NAV per Unit ($) 1 2.32 2.23 Adjusted NAV per Unit ($) 2.25 2.17 Note: 1. Includes DPU to be paid for 2H FY26 and 2H FY25 respectively, based on issued and issuable Units. • Current assets increased due to net proceeds received from the divestment of White Sands on 30 September 2026. • Decrease in non - current assets and total liabilities attributable to the completion of divestment of White Sands on 30 September 2026. • Increase in NAV per Unit is mainly driven by fair value gain of investment properties and change in fair value of derivative financial instruments.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Notes : 1. In accordance with Property Funds Appendix (PFA), the aggregate leverage included proportionate share of borrowings as well as deposited property values of its joint ventures . The ratio of total net debt to total net asset value as at 30 Sep 2026 is 63 . 2 % and is calculated based on the aggregate of FCT’s net debt (including perpetual securities) and proportionate share of the net debt of its joint ventures divided by total net asset value attributable to Unitholders (including proportionate share of net assets of its joint ventures) . 2. Aggregate leverage post repayment of borrowings with divestment proceeds from White Sands . 3. Calculated in accordance with the PFA . 4. The green loans and total borrowings includes FCT’s proportionate share of borrowings of its joint ventures . 5. Committed facilities amount to $ 749 . 2 million . 12 Financial metrics Healthy financial position with lower average cost of debt in FY26 30 September 2026 30 June 2026 30 September 2025 Aggregate leverage 1 38.7% 36.8% 2 40.4% 39.6% Interest coverage ratio (times) 3 4.37 3.66 3.46 YTD average cost of debt (all - in) 3.2% 3.2% 3.8% Quarter average cost of debt (all - in) 3.1% 3.0% 3.5% Weighted average debt maturity (years) 3.41 3.66 3.16 Percentage of fixed debt 68.6% 65.7% 83.4% % of green loan of total borrowings 4 100.0% 100.0% 90.1% Undrawn facilities $961.5 million 5 $861.1 million $888.7 million Credit rating (Moody’s Ratings) Baa2 (Stable) Top banner colour: Top banner text: Synthese (9pt – 10pt). Row content text: Synthese Book (8pt – 10pt), left aligned in left column, right aligned in other columns. Lines and borders: Grey (hex: E6E4E4) table borders at ½ point. Inside and bottom lines, no other outside borders other than bottom. INSTRUCTIONS: table formatting E6E4E4 • New loan facility for maturing debt in FY27 was established in 4Q FY26. • Post repayment of borrowings with divestment proceeds from White Sands, aggregate leverage will be reduced to 36.8%. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 13 Second data point First data point CHARTS ( custom colours under Shape Fill) Notes: 1 . Percentage of debt hedged to fixed rate interest post the repayment of borrowings with the divestment proceeds from White Sands . 2 . Excludes proportionate share of borrowings of its joint ventures . 3. Calculated based on floating rate borrowings. 3.41 years Weighted average debt maturity As at 30 September 2025: 3.16 years 3.1 % 4 Q FY26 Average cost of debt 3Q FY26: 3.0% No refinancing risk in FY27 F5F5F2 (slide background) Composition of borrowings as at 3 0 September 2026 28.4% 68.5% 3.1% Secured bank borrowings Unsecured bank borrowings MTN Total borrowings: $2,570.5 million 2 Capital management Well - staggered debt maturity profile with majority of the borrowings hedged into fixed rates 111.6 263.7 538.0 384.7 96.0 366.4 82.4 647.7 80.0 FY27 FY28 FY29 FY30 FY31 FY32 Unsecured bank borrowings Secured bank borrowings MTN 10bps change in interest rates: ~ 0.04 cents impact to DPU 3 Debt maturity profile ($ million) as at 30 September 2026 111.6 68 .6% 75.9% Percentage of fixed debt As at 30 September 2025: 83.4% 1
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Investment properties 30 September 2026 30 September 2025 Appraised value ($ million) Appraised value ($ psf NLA 2 ) Appraised value ($ million) Appraised value ($ psf NLA 2 ) Northpoint City North Wing 813.0 3,535 800.0 3,479 Northpoint City South Wing 1,138.0 3,773 1,133.0 3,757 Causeway Point 1,356.0 3,230 1,354.0 3,225 Tampines 1 821.0 2,965 817.0 2,938 Tiong Bahru Plaza 667.0 3,110 665.0 3,100 Century Square 564.0 2,669 563.0 2,665 Hougang Mall 505.0 2,812 467.0 n.m. 4 White Sands 3 - 431.0 2,867 Central Plaza 220.0 1,285 219.0 1,280 Total investment property portfolio 6,084.0 - 6,449.0 - NEX 5 2,262.0 n.m. 4 2,141.0 3,374 Waterway Point 6 1,336.0 3,422 1,331.0 3,409 Notes: 1. Based on FCT's investment property portfolio (including Central Plaza), including proportionate share of NEX and Waterway Poi nt, and excludes White Sands. 2. Includes CSFS area. 3. The divestment of White Sands was completed on 30 September 2026. 4. NLA pending final survey due to ongoing AEI works. 5. As at 30 September 2026, FCT owns an effective interest of 50.0% in GRPL which holds NEX. The appraised value is on 100.0% basis. 6. As at 30 September 2026, FCT owns 50.0% of SST which holds Waterway Point. The appraised value is on 100.0% basis. Any discrepancies between the listed figures, the aggregate or the variance in percentage is due to rounding . Annual Portfolio Valuation Aggregate appraised value of portfolio increased by 1.7% y - o - y 1 , driven by stronger asset performance and AEI uplift, with capitalisation rates unchanged 14
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 15 Tampines 1, Singapore Tangerine #FF7F41 Sea Green #52AFA4 Ocean Blue #0076A8 Plum #633260 Butterscotch #E4AA17 Champagne #B59E7A Burgundy #46252F Slate #425563 Lilac #DEBDDA Pine #43695B Mint #84C661 Crimson # AB2328 Lavender # 514155 Frasers Property Grey # 817979 Waterway Point, Singapore 2H FY26 distribution Distribution details Distribution period 1 April 2026 - 30 September 2026 DPU 6.214 cents Ex - Distribution date 29 October 2026 Books closure date 30 October 2026 (5.00 pm) Payment date 27 November 2026
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Portfolio highlights Inspiring experiences, creating places for good. Tiong Bahru Plaza, Singapore © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 99.6% 99.7% 30-Jun-26 30-Sep-26 Retail Portfolio 1 ▲ 0.1% - pt 99.9% 100.0% 30-Jun-26 30-Sep-26 Northpoint City ▲ 0.1% - pt 100.0% 99.8% 30-Jun-26 30-Sep-26 Waterway Point ▼ 0.2% - pt 98.7% 99.3% 30-Jun-26 30-Sep-26 Tiong Bahru Plaza ▲ 0.6% - pt 95.4% 95.4% 30-Jun-26 30-Sep-26 Central Plaza (office) No change 98.8% 99.8% 30-Jun-26 30-Sep-26 Tampines 1 ▲ 1.0% - pt 100.0% 99.9% 30-Jun-26 30-Sep-26 Causeway Point ▼ 0.1% - pt 99.2% 98.6% 30-Jun-26 30-Sep-26 Century Square ▼ 0.6% - pt 99.7% 30-Jun-26 30-Sep-26 Hougang Mall Hougang Mall under AEI CHART COLOURS CBBBA1 748FA3 C9D1D8 Chart highlight 0076A8 Alternative options: Chart highlight 0076A8 878181 17 Notes: 1. 30 June 2026 Retail portfolio committed occupancy excludes Hougang Mall and NEX due to ongoing AEI works. 30 September 2026 Retail portfolio committed occupancy excludes NEX due to ongoing AEI works, and White Sands which was divested on 30 September 2026. Accordingly, the charts for NEX and White Sands have been excluded . Committed occupancy Strong Retail portfolio committed occupancy at 99.7%
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Revenue and NPI by property 1 All malls reported an increase in Revenue and Net Property Income ( NPI) 18 Notes: 1. Excludes NEX due to ongoing AEI works and White Sands which was divested on 30 September 2026. Accordingly, the charts for NE X a nd White Sands have been excluded. 2. Includes Northpoint City North Wing and South Wing. Northpoint City South Wing was included following the completion of its a cqu isition on 26 May 2025. FY25 figures include approximately four months of Revenue and NPI for Northpoint City South Wing. 3. FCT has an interest of 50.0% in Waterway Point as at 30 September 2026. The Revenue and NPI reported are on 100% basis. 4. The Revenue and NPI in FY25 and FY26 were affected by AEI works which commenced in April 2025. FY26 FY25 97.7 69.9 98.5 72.5 Revenue NPI Causeway Point 55.0 38.9 55.9 39.4 Revenue NPI Tampines 1 44.5 33.3 45.2 33.7 Revenue NPI Tiong Bahru Plaza 35.9 26.1 36.3 27.1 Revenue NPI Century Square 27.1 17.1 29.2 18.7 Revenue NPI Hougang Mall 4 86.2 64.5 87.9 66.1 Revenue NPI Waterway Point 3 12.1 8.4 12.5 8.5 Revenue NPI Central Plaza (office) 85.6 62.3 134.2 98.0 Revenue NPI Northpoint City 2
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 19 © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Tiong Bahru Plaza, Singapore Shopper traffic and tenants’ sales Shopper traffic 1 maintains positive momentum; tenant reconfigurations temporarily moderated tenants’ sales 1 growth in 4Q FY26 4Q FY26 Retail portfolio shopper traffic and tenants’ sales Notes: 1. Excludes NEX due to ongoing AEI works, Hougang Mall due to AEI works in FY25 and FY26, and White Sands which was divested on 30 September 2026. 2. In 4Q FY26, tenants’ sales was impacted by key tenant reconfigurations. Shopper traffic and tenants’ sales increased y - o - y 1.0% 0.1% Shopper traffic Tenants' sales Shopper traffic and tenants’ sales increased y - o - y 1.8% 1.3% Shopper traffic Tenants' sales FY26 Retail portfolio shopper traffic and tenants’ sales 2
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 20 © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Causeway Point, Singapore Notes: 1. Occupancy cost refers to the ratio of gross rental (including turnover rent) paid by the tenants to the tenants’ sales turnov er (excluding GST). 2. Excludes NEX due to ongoing AEI works, Hougang Mall due to AEI works in FY25 and FY26, and White Sands which was divested on 30 September 2026. 17.0% 19.2% 17.5% 16.2% 15.6% 16.0% 16.1% 16.3% FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 (Affected by Circuit Breaker) Retail Portfolio Occupancy Cost 1 Retail Portfolio Occupancy Cost Remained stable at around 16+%, underpinned by healthy growth in tenants’ sales over time 2
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Notes: 1. On an average - to - average basis. Reversion excludes: i ) reconfigured units; ii) units whose previous tenant was re - entered/pre - terminated; iii) when the previous full - term lease expi red more than 18 months ago; and iv) restructured leases 2. Excludes NEX due to ongoing AEI works, Hougang Mall due to AEI works in FY25 and FY26, and White Sands which was divested on 30 September 2026 . 21 Rental reversion FY26 retail portfolio rental reversion 1 at 6.6 % 2 , supported by healthy leasing traction Property Number of renewals/ new leases NLA (sf) As percentage of property NLA Northpoint City 103 91,839 19% Causeway Point 70 86,667 21% Waterway Point 53 105,172 28% Tampines 1 26 15,589 6% Tiong Bahru Plaza 29 36,588 17% Century Square 41 56,480 28% Retail Portfolio 2 322 392,335 20% Central Plaza 11 26,802 19% Robust leasing activity observed from these trade categories: • Food & Beverage • Beauty & Healthcare • Fashion & Accessories Rental reversion 1,2 6.6% Tenant retention 2 81% © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Lease maturity profile Lease expiry profile as % of Total GRI WALE 1,2 as at 30 September 2026 22 878181 AEBAC5 CHART Notes: 1. Calculations exclude vacant floor area. 2. Based on committed leases for expiries as at 30 September 2026. Excludes Central Plaza (Office), NEX due to ongoing AEI works and White Sands which was divested on 30 September 2026. Chart title in Synthese , black, bold (11pt), left aligned to left edge of chart X & Y Axis values in Synthese Book, black (8pt) Y Axis TITLE IN SYNTHESE , BLACK IN CAPS (8pt) Data values within chart (bar, pie or donut charts) in Synthese Book (8pt) Chart legend in Synthese , black (8pt) INSTRUCTIONS: chart typefaces Well - spread lease maturity profile with n o concentration risk F5F5F2 (slide background) Lease expiry as at 30 September 2026 1,2 FY27 FY28 FY29 FY30 FY31 & beyond Total Number of leases expiring 487 462 396 98 17 1,460 Leased area expiring (sf) 668,515 622,212 515,645 158,895 150,573 2,115,840 Expiries as % of total leased area 31.6% 29.4% 24.4% 7.5% 7.1% 100.0% Expiries as % of total GRI 31.5% 30.6% 26.7% 7.3% 3.9% 100.0% • 1.8 years by NLA • 1.7 years by GRI 32.8% 30.9% 24.4% 3.6% 3.1% 31.5% 30.6% 26.7% 7.3% 3.9% Lease expiry as at 30 June 2026 Lease expiry as at 30 September 2026
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 23 107 new - to - portfolio brands in FY 26 Strengthening our portfolio offering through curated additions across diverse trade categories MoreYogurt at Waterway Point – Fast - growing beverage chain known for yogurt smoothies Keming Hong Kong Chan Sat at Tampines 1 – trendy cha chaan teng A&W at Waterway Point – Iconic fast - food chain famous for its burgers and root beer floats Upcoming brands Tangerine #FF7F41 Sea Green #52AFA4 Ocean Blue #0076A8 Plum #633260 Butterscotch #E4AA17 Champagne #B59E7A Burgundy #46252F Slate #425563 Lilac #DEBDDA Pine #43695B Mint #84C661 Crimson # AB2328 Lavender # 514155 Frasers Property Grey # 817979 Imperial Kung Fu Roti at Northpoint City – Chinese style crispy stuffed flatbreads Chin Mee Chin at NEX – Beloved bakery - café known for its traditional local flavours Setirom at Tampines 1 – Fashion retailer offering women's apparel and accessories Tofu G at Waterway Point – Korean - inspired dessert serving fresh - churned tofu gelato
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 24 Creating a vibrant and dynamic shopper experience Signature campaigns and thematic activations to engage, enrich and excite the community Signature Ong Lye Rush @ Northpoint City Isetan Food Fairs @ Northpoint City and Waterway Point Partnering with Isetan, Northpoint City and Waterway Point celebrated Japanese culture through the Summer Festival and Hanabi Matsuri Food Fair, offering shoppers authentic Japanese flavours and engaging festival experiences . Century Square’s 8 th Birthday Bash Celebrating its 8 th anniversary since its AEI completion, Century Square launched its first - ever birthday parade, alongside immersive activations and attractive rewards, creating a vibrant and interactive experience for shoppers . Celebrating Yishun’s pineapple plantation heritage, the iconic Ong Lye Rush returns with pineapple - themed rewards and immersive campaigns .
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 25 Social hubs connecting communities a cross g enerations Curating inclusive and meaningful experiences that inspire participation and engagement Mid - Autumn Celebrations @ Northpoint City Skechers X Swensen’s Ice Cream Run and Mediacorp X King of Culinary – Woks Up @ Waterway Point Combining fitness, fun and giving, participants supported the Every Step Forward campaign while enjoying a unique ice cream - making experience Graced by Mediacorp artistes, Woks Up Hawker Feast celebrated local culinary talent and community spirit, with all proceeds benefiting a charitable cause In partnership with All Saints Home Active Ageing Centre, Northpoint City engaged the community by hosting lantern - making workshops for 30 seniors
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Asset Enhancement Initiatives (AEIs) Inspiring experiences, creating places for good. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Hougang Mall, Singapore
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 27 Notes: 1. Calculated based on total AEI cost of $47.0 million. 2. Comparing September 2026 (Post - AEI) against September 2024 (Pre - AEI). Hougang Mall AEI Close to 100% of AEI space committed with works completed New Store Openings & Events ~8% ROI 1 outperforms target >13,000 sf NLA created and deployed to prime retail floors 99.7% Mall committed occupancy +24% 49 New - to - mall concepts (67% of units under AEI works) Shopper traffic 2
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Continuing efforts to extend debt maturities with focus on green and sustainable financing 28 Source of debt 1 Total: $17,663m 2 Total: $12,570m 2 Debt maturity profile (In $m) Second data point First data point CHARTS Green and sustainable financing 54% Loans 73% Bonds 27% Total $12,570 m 2 2,797 4,403 3,956 3,936 2,099 472 1,918 4,123 3,001 2,243 999 286 FY26 FY27 FY28 FY29 FY30 >FY30 Including listed REITs Excluding listed REITs $90 million 3 CAPEX 44,000 sf Additional NLA ~7% 2 Target ROI F5F5F2 (slide background) NEX AEI Phase 1 AEI on schedule to complete by December 2026; Phase 2 to commence in January 2027 • Phase 1 AEI at the ex - Isetan space has achieved 98 % leasing pre - commitment, of which 76 % 1 are new - to - mall brands and concepts . • Phase 2 AEI will commence in January 2027 , with completion expected in 1 Q 2028 . Majority of the 44 , 000 sf NLA will be created in this phase . 4Q 2028 Target completion New, exciting brands and concepts Returning brands Notes: 1. Based on NLA of leases signed and under lease documentation as a percentage of Phase 1 AEI NLA. 2. Target ROI is based on total AEI cost of $90 million. 3. Capex is inclusive of rejuvenation cost and will be shared equally among the joint venture partners. Artist’s impression of the Plaza at Level 1
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 29 Notes: 1. Under URA’s Community/Sports Facilities Scheme (CSFS). Artist’s impressions are used for illustrative purposes and are subject to further design development and change without prio r n otice. • Partnership with National Library & Archives Board (NLB) will redefine how books enrich community life • Spanning over 32,000 sf 1 , this is set to house one of Singapore’s largest publicly accessible collection of pre - loved books and one of the largest showcase dedicated to Singapore’s Literature (Sing Lit) and Singapore authors • Designed as a shared living room, bringing together learning, leisure and connection MOU with NLB to launch The HomePage @ Causeway Point Singapore’s first - of - its - kind social and reading destination The Social Steps – terraced public living room The Tree House – early literacy and storytelling zone The Drum – social and café area MOU signing ceremony
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 30 Tangerine #FF7F41 Sea Green #52AFA4 Ocean Blue #0076A8 Plum #633260 Butterscotch #E4AA17 Champagne #B59E7A Burgundy #46252F Slate #425563 Lilac #DEBDDA Pine #43695B Mint #84C661 Crimson # AB2328 Lavender # 514155 Frasers Property Grey # 817979 30 AEI duration 2Q 2027 to 2Q 2029 • Future - proof Causeway Point to capture growth opportunities arising from the continued transformation of Northern Singapore • Refresh key touchpoints and arrival experiences for an enhanced shoppers’ experience • Strengthen mall’s competitive positioning through stronger trade mix and differentiated experiential offerings Reimagining Causeway Point: the next chapter begins Transforming beyond retail into a community and lifestyle destination Main circular atrium Main entrance from MRT Rectangular atrium Basement 1 market hall Positioning Causeway Point as the regional mall at the heart of Singapore’s Northern Gateway Note: Artist’s impressions are used for illustrative purposes and are subject to further design development and change withou t p rior notice.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. ESG Inspiring experiences, creating places for good. Sustainability in Motion: Tesla Roadshow at Century Square © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 5 - star rating for 2026 GRESB assessment FY26 Achievements 2 3 1 32 Broadly align with… MSCI “AA’ ESG rating 100% green financing 100% green certified properties For the sixth consecutive year Singapore Governance and Transparency Index 2026: Ranked 6 th in the REIT and Business Trust Category Score: 101.7 ESG at FCT Sustainability at the heart of our business strategy
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Various initiatives in place t o drive tangible environmental impact across its portfolio • Explores new - to - industry technologies with the potential for implementation across the FCT portfolio. • Piloted machine learning to optimise HVAC electricity performance and chiller plant efficiency to reduce building energy consumption and carbon emissions through real - time optimisation of existing cooling systems. Heating, Ventilation and Air Conditioning (HVAC) Systems Optimisation 15% lower electricity consumption from pilot programme Turning our Net - Zero ambition into action • Participated in Singapore’s nationwide Go 25 initiative which encourages organisations and residents to set indoor air - conditioning temperatures at 25 ° C or higher to reduce energy consumption. • Implemented hybrid cooling and Go 25 at Centre Management Offices within FCT malls. Go 25 9 - 12% in cooling energy savings achieved Singapore’s first brownfield distributed district cooling (DDC) network Largest single solarisation roll - out for retail malls in Singapore Other ongoing green initiatives • Partnership with BCA to accelerate innovation and advance decarbonisation efforts. • Northpoint City received the GBIC grant to explore emerging technologies on energy reduction across lighting, air - conditioning and tenant operations to reduce Scope 2 and 3 emissions. Green Building Innovation Cluster (GBIC) programme Singapore’s first - of - its - kind circular economy solution: food waste valorisation system 33
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Looking ahead Inspiring experiences, creating places for good. Causeway Point, Singapore © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. • Operational and ESG initiatives in place to optimise cost and reduce environmental impact. PRUDENT CAPITAL MANAGEMENT OPERATIONAL & ESG EXCELLENCE GROWTH DRIVERS • Hougang Mall AEI successfully completed and achieved ~8% ROI with 67% new - to - mall concepts. • NEX AEI commenced in May 2026; Phase 1 to complete by December 2026. Phase 2 will commence in January 2027, with majority of the 44,000 sf NLA created in this phase. • Causeway Point AEI to transform the mall with Singapore’s first - of - its - kind social and reading destination . • Joint development of Bayshore Drive GLS at an attractive yield of ~ 5% and becomes a pipeline asset when completed. • Resilient organic growth underpinned by positive retail fundamentals and proactive asset management that drive occupancy and rental reversions. • Refinanced FY27 debt, no refinancing risk in the near term. • Aggregate leverage remains healthy below 40%. • Percentage of fixed debt over 75% 1 , minimizing exposure to interest rate changes. Looking ahead: Various DPU growth drivers in place FCT is well - positioned to drive sustained long - term DPU growth through a number of growth initiatives 35 Note : 1 . Percentage of debt hedged to fixed rate interest post the repayment of borrowings with the divestment proceeds from White Sands .
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Inspiring experiences, creating places for good. Thank you For enquiries, please contact: Judy Tan Investor Relations Direct: +65 6277 2657 Email: judy.tan@frasersproperty.com © Frasers Property Limited. All Rights Reserved. Our friendly service ambassador
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Overview of Frasers Centrepoint Trust (FCT) Inspiring experiences, creating places for good. NEX, Singapore © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Stock Information (30 September 2026) Tickers SGX:J69U Bloomberg: FCT SP Reuters: J69U.SI SGX Listing Date 5 July 2006 Market Capitalisation ~$4.3 billion Distribution Payment Half - yearly Financial Year End 30 September Substantial Unitholder Frasers Property Limited Group: 38.2% Credit Rating Baa2 Stable (Moody’s) Well - connected locations: Malls are located next to or near MRT stations, and enjoy strong recurring shopper traffic Large catchment: The portfolio serves a combined 3.0 million catchment population, about half of Singapore’s population 4 Sustainable relevance: Proximity to homes and transport amenities makes our malls ideal “last - mile” fulfilment hubs, especially with trend of “work - from - home” 1 2 3 Highlights of FCT’s Retail Portfolio Notes: 1. Total assets of FCT’s investment portfolio (including Central Plaza), including proportionate share of its JVs’ total assets as at 30 September 2026. 2. NLA includes CSFS area. 3. Retail Portfolio committed occupancy as at 30 September 2026; excludes NEX due to ongoing AEI works and White Sands which was divested on 30 September 2026. 4. Based on 3km catchment of the retail properties. Source: CBRE Research. 38 Singapore’s only retail - focused REIT and largest suburban retail mall owner About FCT Total AUM 1 Retail portfolio NLA 2 Committed occupancy 3 Number of leases GRESB rating $8.4 billion 8 malls ~2.9 million sf 99.7% >1,700 5 - star
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. NEX (FCT 50.0% effective interest) Causeway Point Waterway Point (FCT 50.0% interest) Tiong Bahru Plaza Northpoint City Tampines 1 Century Square Hougang Mall Quality portfolio in Singapore ~2.9 million sf Retail portfolio NLA 99.7% Committed occupancy >1,700 Number of leases 39 FCT’s suburban malls enjoy strong shopper footfall supported by commuter traffic and growing residential catchments Bayshore Drive GLS (under development)
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. F CT investment merits © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 40 3 Suburban malls benefit from stable, necessity - driven spending from nearby residential catchments The Frasers Experience 6 Focus on essential services Our malls are vibrant, inclusive social hubs where communities can connect, engage and thrive, shaped by people - centred , community - first experiences High quality portfolio Positive long - term market outlook Owns four of Singapore’s top 10 largest suburban malls which are located next to or near MRT stations and densely populated residential areas 2 5 Favourable supply - demand dynamics for Singapore suburban retail, including population and income growth and constructive government measures Market Leadership AEI potential Singapore’s only retail - focused REIT and largest suburban retail mall owner 1 4 Strong track record of asset enhancement initiatives (AEIs) that preserve and grow asset values, drive rental growth and tenants’ sales Tampines 1, Singapore
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Appendix Inspiring experiences, creating places for good. Tampines 1 , Singapore © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. • 4Q FY26: Three months ended 30 September 2026 • 2H FY25: Six months ended 30 September 2025 • 1H FY26: Six months ended 31 March 2026 • 2H FY26: Six months ended 30 September 2026 • Adjusted ICR: Adjusted Interest Coverage Ratio • AEI: Asset Enhancement Initiative • AUM: Assets under management • BCA: Building and Construction Authority • BTO: Build - to - Order • CDC Vouchers: Community Development Council Vouchers • CSFS: Community/Sports Facilities Scheme • DPU: Distribution per Unit • ESG: Environmental, social and corporate governance • FCT: Frasers Centrepoint Trust • FCAM: Frasers Centrepoint Asset Management Ltd, the Manager of FCT • FPL: Frasers Property Limited, the sponsor of FCT • FY: Financial Year ending 30 September • FYTD: Financial year to date • FY25: Financial year ended 30 September 2025 • FY26: Financial year ended 30 September 2026 • FY27: Financial year ending 30 September 2027 • GDP: Gross Domestic Product • GFA: Gross Floor Area • GRPL: Gold Ridge Pte. Ltd., which holds NEX; it is a joint venture of FCT • GRI: Gross Rental Income • Group: Refers to Frasers Centrepoint Trust and its subsidiaries • GST: Goods and Services Tax • HDB: Housing & Development Board • ICR: Interest Coverage Ratio • MAS: Monetary Authority of Singapore • Moody’s: Moody’s Investors Service (credit rating agency) • MOU: Memorandum of Understanding • MTI: Ministry of Trade and Industry • MTN: Medium Term Notes under FCT’s S$1 billion multi - currency MTN programme or the S$3 billion multi - currency EMTN programme, as the case may be • NAV: Net Asset Value • NLA: Net Lettable Area • NPI: Net Property Income • n.m.: Not meaningful • ppts: percentage points • q - o - q: quarter - on - quarter • RCF: Revolving Credit Facility • REIT: Real Estate Investment Trust • Retail Portfolio: Includes all retail malls in FCT’s investment portfolio and includes Waterway Point (50.0% interest) and NEX (50.0% effective interest), but excludes Central Plaza which is an office property • ROI: Return on Investment • psf/mth: per square foot per month • sf: square feet • SREIT: Singapore REIT • SST: Sapphire Star Trust, which holds Waterway Point; it is a joint venture of FCT • Unit or Units: Refers to issued units of FCT • Unitholders: Refers to unitholders of FCT • WALE: Weighted Average Lease Expiry • y - o - y: year - on - year, refers to the comparison with the same period in the previous year • YTD: year to date All financial information presented in Singapore dollars, unless otherwise stated. Glossary 42
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Causeway Point 17.2% Northpoint City South Wing 14.4% NEX 1 14.3% Tampines 1 10.4% Northpoint City North Wing 10.3% Waterway Point 1 8.5% Tiong Bahru Plaza 8.5% Century Square 7.2% Hougang Mall 6.4% Central Plaza 2.8% Notes: 1. FCT has an effective interest of 50.0% in NEX and an interest of 50.0% in Waterway Point. 2. Excludes NEX due to ongoing AEI works and White Sands which was divested on 30 September 2026. 3. The groupings of essential and non - essential services are based on Ministry of Trade and Industry’s press release on 21 April 2020. Note that the individual product group may not align perfectly to the announced Essential Services. 43 Portfolio composition Diversified portfolio composition and essential trade mix underpin resilience and stability FY26 – valuation of property as at 30 September 2026 Portfolio valuation by property Food & Beverages Supermarket & Hypermarket Services Beauty & Health Non - essential Services , 45% Retail portfolio 2 trade mix by GRI as at 30 September 2026 Essential services 3 ~ 5 5 % Retail portfolio trade mix by GRI
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Notes: 1. Excludes NEX due to ongoing AEI works and White Sands which was divested on 30 September 2026. 2. Includes FairPrice supermarkets (FairPrice and FairPrice Finest), Kopitiam food courts (Kopitiam and Bagus by Kopitiam), Unit y P harmacy, Crave, Pezzo and Cheers. 3. Includes Food Republic, The Food Market, BreadTalk , Toast Box and Din Tai Fung. 4. Includes Metro and Clinique. 5. Operator of Harvey Norman. 6. Includes Love & Co, MoneyMax , SK Gold, SK Jewellery and SK Treasures. 7. Includes Mamma Mia Trattoria E Caffè , Poulet La Petit, Riverside Canton Claypot Cuisine, Sanook Kitchen, Xin Wang Hong Kong Café, XW Plus Western Grill and XW We ste rn Grill. 8. Includes 7 - Eleven and Guardian Health & Beauty. No. Tenant As % of total GRI As % of total NLA 1 FairPrice Group 2 6.5% 9.1% 2 BreadTalk Group 3 2.4% 2.2% 3 Metro (Private) Limited 4 1.6% 3.0% 4 Pertama Merchandising 5 1.4% 2.1% 5 Courts (Singapore) 1.3% 1.8% 6 SK Jewellery Group 6 1.3% 0.5% 7 Uniqlo (Singapore) 1.2% 2.2% 8 Minor Food Singapore 7 1.2% 1.1% 9 Don Don Donki 1.1% 2.5% 10 DFI Retail Group 8 1.1% 0.7% Total 19.1% 25.2% Retail Portfolio 1 , excluding CSFS area (as at 30 September 2026) Top 10 tenants by gross rental income Top banner colour: Top banner text: Synthese (9pt – 10pt). Row content text: Synthese Book (8pt – 10pt), left aligned in left column, right aligned in other columns. Lines and borders: Grey (hex: E6E4E4) table borders at ½ point. Inside and bottom lines, no other outside borders other than bottom. INSTRUCTIONS: table formatting E6E4E4 44
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Trade category As % of total GRI As % of total NLA Food & Beverage 39.8% 32.1% Beauty & Healthcare 14.3% 11.1% Fashion & Accessories 11.1% 11.1% Sundry & Services 7.8% 6.0% Supermarket & Grocers 6.2% 10.3% Electrical & Electronics 3.6% 5.0% Homeware & Furnishing 3.0% 3.3% Books, Music, Arts & Craft, Hobbies 3.0% 4.6% Jewellery & Watches 2.6% 1.1% Information & Technology 2.2% 2.0% Leisure & Entertainment 2.1% 6.8% Education 1.8% 2.5% Department Store 1.6% 2.8% Sports Apparel & Equipment 0.9% 1.0% Vacant 0.0% 0.3% Total 100.0% 100.0% Retail Portfolio 1 , excluding CSFS area (as at 30 September 2026) Trade mix Top banner colour: Top banner text: Synthese (9pt – 10pt). Row content text: Synthese Book (8pt – 10pt), left aligned in left column, right aligned in other columns. Lines and borders: Grey (hex: E6E4E4) table borders at ½ point. Inside and bottom lines, no other outside borders other than bottom. INSTRUCTIONS: table formatting E6E4E4 Note: 1. Excludes NEX due to ongoing AEI works and White Sands which was divested on 30 September 2026. 45
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Lease expiries in FY27 (as at 30 September 2026) 2 Number of leases expiring Leased area expiring (sf) As % of leased area of property As % of total GRI of property Northpoint City 128 123,063 25.0% 28.4% Causeway Point 73 224,407 53.5% 43.4% Waterway Point 82 108,292 29.1% 29.8% Tampines 1 81 93,563 34.9% 36.1% Tiong Bahru Plaza 54 60,013 28.2% 31.3% Century Square 49 46,311 23.2% 29.2% Hougang Mall 20 12,866 8.5% 9.3% Retail Portfolio 1 487 668,515 31.6% 31.5% Central Plaza 13 37,492 27.5% 31.8% Retail Portfolio 1 , excluding CSFS area, 31.5% of leases (by GRI) expiring in FY27 (as at 30 September 2026) FY27 lease expiry Notes: 1. Excludes NEX due to ongoing AEI works and White Sands which was divested on 30 September 2026. 2. Based on committed leases for expiries as at 30 September 2026. Calculations exclude vacant floor area. Top banner colour: Top banner text: Synthese (9pt – 10pt). Row content text: Synthese Book (8pt – 10pt), left aligned in left column, right aligned in other columns. Lines and borders: Grey (hex: E6E4E4) table borders at ½ point. Inside and bottom lines, no other outside borders other than bottom. INSTRUCTIONS: table formatting E6E4E4 46
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 0.9 0.3 0.9 0.2 0.7 0.0 - 0.4 0.0 0.1 0.0 0.3 0.2 0.1 0.0 0.1 0.2 0.3 0.6 0.0 0.7 0.4 0.2 0.4 - 0.3 0.3 0.2 0.0 0.4 0.0 0.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2026F (Q4) 2027F 2028F 2029F Suburban Net Supply and Demand (sf in millions) Net New Supply Net New Demand 47 Singapore retail outlook Limited suburban retail supply to continue to support healthy suburban retail rents CHART COLOURS CBBBA1 748FA3 B0B0B4 C8DDED C9D1D8 878181 C1E2DE F0ECE4 Chart highlight 0076A8 Source: CBRE, Singapore Figures Q3 2026 (refers to calendar quarter), URA. Figures are subject to rounding. Chart title in Synthese , black, bold (11pt), left aligned to left edge of chart X & Y Axis values in Synthese Book, black (8pt) Y Axis TITLE IN SYNTHESE , BLACK IN CAPS (8pt) Data values within chart (bar, pie or donut charts) in Synthese Book (8pt) Chart legend in Synthese , black (8pt) INSTRUCTIONS: chart typefaces Average annual net supply Average annual net demand 2016 – 2025 (10 - year) ~201,000 sf ~236,000 sf 2021 – 2025 (5 - year) ~121,000 sf ~ 187,000 sf 2026 – 2029 Forecast ~123,000 sf - 38.64 39.05 29.65 33.05 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2020 2021 2022 2023 2024 2025 2026 Prime retail rents by submarkets ($ psf) Orchard Road Suburban
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. 48 CHART COLOURS CBBBA1 748FA3 B0B0B4 C8DDED C9D1D8 878181 C1E2DE F0ECE4 Chart highlight 0076A8 Source: Singapore Department of Statistics Chart title in Synthese , black, bold (11pt), left aligned to left edge of chart X & Y Axis values in Synthese Book, black (8pt) Y Axis TITLE IN SYNTHESE , BLACK IN CAPS (8pt) Data values within chart (bar, pie or donut charts) in Synthese Book (8pt) Chart legend in Synthese , black (8pt) INSTRUCTIONS: chart typefaces 2019 2020 2021 2022 2023 2024 2025 YTD Aug 2026 Annual Total Retail Sales - excl. motor vehicles ($ bn) 37.2 32.5 36.2 41.2 42.5 43.1 44.1 29.7 Monthly Average Retail Sales ($ bn) 3.1 2.7 3.0 3.4 3.5 3.6 3.7 3.7 Monthly Average Online Sales (%) 6.8 14.5 15.9 14.9 14.4 14.4 15.8 17.8 Singapore retail outlook YTD Aug - 26 total retail sales grew 3.1% y - o - y to $29.7 billion, with 17.8% in online sales 3.8 3.4 3.6 3.3 3.6 3.3 3.5 3.6 3.5 3.7 3.7 4.1 4.0 3.3 3.7 3.4 3.6 3.4 3.6 3.8 3.5 3.8 3.9 4.2 3.9 3.6 3.8 3.5 3.8 3.5 3.7 3.8 12.6% 19.5% 18.2% -3.0% 2.0% 7.0% 12.0% 17.0% 22.0% 0 1 1 2 2 3 3 4 4 5 Retail Sales Value and Proportion of Online Sales - Excluding Motor Vehicles Retail Sales Value - Excluding Motor Vehicles (S$ in million) Proportion of Online Sales
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© Frasers Centrepoint Asset Management Ltd. All Rights Reserved. Inspiring experiences, creating places for good. © Frasers Centrepoint Asset Management Ltd. All Rights Reserved.