#1Keppel DC REIT Investor Presentation 12 August 2021 1003#2Outline Key Highlights Financial Results Portfolio Updates Outlook Additional Information 3 10 10 14 17 21 Constituent of: FTSE Russell EPRA Nareit. FTSE Straits FTSE EPRA Nareit Global Times Index Developed Index MSCI MSCI Singapore Small Cap Index lobal property research Global Solutions for customized property indices GPR 250 Index Series Awards and Accreditations: DESIGN ANSITIA-942202 RATED 3 ISO TIA-942 BCA-IMDA GREEN MARK Keppel DC REIT CLIMATE NEUTRAL DATA CENTER bizSAFE STR SS 2012 2#31H 2021 Key Highlights Strengthen Income Stream Strong Leasing Momentum 0.8%¹ Proactive leasing efforts saw new, renewal and expansion leases secured with clients. Including the latest renewal lease signed in July 2021, only 0.8% of leases¹ are expiring for the remainder of the year. High Portfolio Occupancy 98.0%2 as at 30 Jun 2021. Long Portfolio WALE 6.5 years by leased area. 3,4 Sustainable Growth Stable Distributable Income $84.3m for 1H 2021, which was 12.4% higher y-o-y compared to 1H 2020, due mainly to contributions from accretive acquisitions and completion of asset enhancement initiative works. Continued DPU growth 4.924 cents for 1H 2021, which was 12.5% above 1H 2020's DPU. Annualised DPU yield 3.96% based on the market closing price of $2.490 per Unit at 30 Jun 2021. Financial Flexibility Aggregate Leverage5 36.7% as at 30 Jun 2021, providing comfortable debt headroom to pursue growth. High Interest Coverage 12.9 times as at 30 Jun 2021. Average Cost of Debt 1.5% as at 30 Jun 2021. Keppel DC REIT 1. By leased area, and 1.6% by rental income. As at 30 Jun 2021, leases expiring for the remainder of the year was 1.7% by leased area and 7.6% by rental income. 2. Post-acquisition of Guangdong Data Centre and assuming the acquisition was completed on 30 Jun 2021, portfolio occupancy would be 98.2%. 3. WALE by rental income was 4.9 years as a higher proportion of rental income is from colocation assets, which typically have shorter lease periods. 4. Post-acquisition of Guangdong Data Centre and assuming the acquisition was completed on 30 Jun 2021, WALE would be 7.3 years by leased area and 5.3 years by rental income. 5. Aggregate leverage was computed based on gross borrowings and deferred payment as a percentage of the deposited properties, both of which do not take into consideration the lease liabilities pertaining to land rent commitments and options. 6. Including amortisation of upfront debt financing costs and excluding lease charges. 3#4Value Creation Strategy Widened Mandate with Continued Focus on Data Centres ■ Access to wider range of opportunities such as data centre campuses with non-data centre assets (e.g. distribution centre, fibre network) and edge data centres At least 90% of AUM will continue to be data centres Proposed investment in debt securities and preference shares into M1's network assets¹ Expected to be highly yield accretive, without having to assume any operational risks ■ Generate long-term stable income to Unitholders for 15 years Completion of Intellicentre 3 East Data Centre (IC3 East DC) in Sydney ■ Development completed on 13 Jul 2021 Total development cost of A$26.0m (approx. S$26.6m²) IC3 East DC and Intellicentre 2 Data Centre located within the same site in Macquarie Park, and will collectively be renamed Intellicentre Campus Commencement of a new 20-year triple net master lease with Macquarie Data Centres at Intellicentre Campus Tapping into China's Growing Digital Economy DPU-accretive acquisition of Guangdong Data Centre in Jiangmen, Guangdong Province, that will strengthen distributions to Unitholders Inroads into the fast-growing data centre market in China Will improve Keppel DC REIT's portfolio occupancy and strengthen income resilience Keppel DC REIT 1. On 28 April 2021, Keppel DC REIT and M1 signed a non-binding term sheet with the intention to enter into definitive agreements with respect to the proposed investment by Keppel DC REIT into a special purpose vehicle, which is intended to be established by M1 to own and operate M1's current mobile, fixed and fibre assets (collectively "network assets"). 2. Based on an exchange rate of RMB 1.00 to S$0.2076 as at 30 Jun 2021.#5Maiden Data Centre Acquisition into China Guangdong Data Centre Description • 7-storey data centre designed in accordance with the Code for Design of Data Centre Grade A GB1 1 of 6 data centres buildings to be completed in the Bluesea Intelligence Valley Mega Data Centre Campus Guangdong Data Centre is located within the Greater Bay Area, which includes Guangzhou, one of China's most vibrant economic regions Key highlights Lettable Area Land Tenure Purchase Consideration • . Sale and leaseback on a triple net basis² for 15 years Purchase Consideration represents 7.8% discount to the independent market valuation³ Right of first refusal to acquire remaining 5 data centres to be developed within the campus 20,595 sm (221,689 sq ft) Leasehold with approx. 46 years remaining RMB 635.9m (approx. S$132.0m4) 1. Grade A is the highest standard for data centres in the People's Republic of China ("PRC"). Keppel DC REIT 2. 3. With the exception of applicable real estate tax which the lessee shall bear up to a certain threshold. Based on the valuation by Savills Valuation and Professional Services (S) Pte Ltd, an independent valuation firm appointed by the trustee of Keppel DC REIT, the market value of the property was RMB 690.0 million (approximately S$143.2 million) as at 1 Jul 2021. 4. Based on an exchange rate of RMB 1.00:S$0.2076 as at 30 Jun 2021. 5 сл#6Benefits to Unitholders 1 2 3 First investment in China, the largest growing data centre hub in Asia DPU-accretive acquisition consistent with Keppel DC REIT'S investment strategy Improve portfolio occupancy and income diversification Keppel DC REIT 00 6#71 1st Investment in China, Asia's Largest Growing Data Centre Hub Foothold in the 2nd largest data centre market globally and the largest in APAC1 ☐ Guangdong has the highest share of large scale data centres, commanding over 20% of the market² Located within the Greater Bay Area, one of China's most vibrant economic regions Increased geographical diversification to nine countries globally Italy 2.0% Germany 9.2% Ireland 9.8% China Germany 8.7% 4.1% Italy 1.9% Ireland 9.4% AUM: ~$3.2b4 Singapore 54.2% Netherlands 6.4% AUM: ~$3.1b3 Netherlands U.K. Singapore 56.4% 6.2% 4.5% Australia 11.0% Malaysia 0.7% Keppel DC REIT 1. Source: Datacentrepricing, Sep 2020. 2. Source: Cushman & Wakefield. 3. Based on Asset Under Management ("AUM") as at 30 Jun 2021. 4. Based on AUM as at 30 Jun 2021 and post-acquisition of Guangdong Data Centre. U.K. 4.3% Australia 10.5% Malaysia 0.7% 7#82 DPU-Accretive Acquisition Pro Forma DPU (cents)1 Effects of the Acquisition based on Pro Forma¹ Pre-Acquisition Post-Acquisition 9.340 +1.9% Net Profit before Tax (S$'000) 192,750 198,3142 9.170 Distributable Income (S$'000) 156,915 162,241 Issued Units ('000) 1,633,1213 1,660,5254 Distribution per Unit2 (DPU) (cents) 9.170 Accretion (%) 9.340 1.9% Pre-Acquisition Post-Acquisition Keppel DC REIT 2. 3. 1. FOR ILLUSTRATIVE PURPOSES ONLY. The pro forma financial effects of the Acquisition (including the leaseback of Guangdong Data Centre) on Keppel DC REIT's DPU for the financial year ended 31 Dec 2020, as if the Transaction were completed on 1 January 2020, and Keppel DC REIT held the Property to 31 Dec 2020. Based on an illustrative exchange rate of RMB1.00 to $$0.1996. Number of Units issued as at 31 Dec 2020 4. Assuming (i) RMB 400.0 million (approximately S$83.0 million, based on an exchange rate of RMB 1.00 = S$0.2076 as at 30 Jun 2021) to be drawn down from debt facilities to part finance the Acquisition, (ii) approximately 26.7 million new Units (at an illustrative issue price of S$2.499 per Unit) issued via equity fund raising and (ii) approximately 0.7 million new Units issuable (at an illustrative issue price of S$2.563) to the Manager in satisfaction of the acquisition fee and management fees for the financial year ended 31 Dec 2020. 8#93 Improve Portfolio Occupancy and Income Diversification Expands presence to 20 data centres globally ASIA PACIFIC ● SINGAPORE . . Keppel DC Singapore 1 . Keppel DC Singapore 2 . Keppel DC Singapore 3 Keppel DC Singapore 4 • DC1 AUM from S$3.1bn to S$3.2b² Portfolio Occupancy from 98.0% to 98.2%2 Portfolio WALE from 6.5 years to 7.3 years² EUROPE UNITED KINGDOM ⚫ Cardiff Data Centre, Cardiff ⚫ GV7 Data Centre, London . IRELAND Keppel DC Dublin 1, Dublin ⚫ Keppel DC Dublin 2, Dublin THE NETHERLANDS ⚫ Almere Data Centre, Almere . Amsterdam Data Centre, Amsterdam . . ITALY Milan Data Centre, Milan GERMANY maincubes Data Centre, Offenbach am Main Kelsterbach Data Centre, Kelsterbach Keppel DC REIT 1. Located within the same site in Macquarie Park, IC3 East DC and Intellicentre 2 Data Centre will be collectively renamed Intellicentre Campus. 2. Including Guangdong Data Centre in Jiangmen, Guangdong Province, the acquisition of which will be completed in 3Q 2021. . . Keppel DC Singapore 5 MALAYSIA Basis Bay Data Centre, Cyberjaya AUSTRALIA Gore Hill Data Centre, Sydney • Intellicentre Campus, Sydney¹ • Iseek Data Centre, Brisbane CHINA Guangdong Data Centre, Guangdong Province 9#10Keppel DC REIT Financial Results 10#11Financial Performance Distribution per Unit (cents)1 Distribution Timetable 4.924 +12.5% Ex-Date 4.375 2 Aug 2021 Record Date 3 Aug 2021 Payment Date 6 Sep 2021 1H 2020 1H 2021 ($'000) Distributable Income to Unitholders Comprising 1H 2021 84,256 1H 2020 74,980 +/(-) % +12.4 Gross Revenue 135,147 123,950 +9.0 Property Expenses (11,313) (9,733) +16.2 Net Property Income 123,834 114,217 +8.4 Distribution per Unit¹ (DPU) (cents) 4.924 4.375 +12.5 Annualised Distribution Yield² (%) 3.96 3.51 +45 bps Keppel DC REIT 1. Exclude an amount of Capex Reserves that has been set aside. 11 2. Based on 1H 2021's closing price of $2.490 per Unit as at 30 Jun 2021.#12Balance Sheet ($'000) Investment Properties Property under Development Total Assets Gross Borrowings1 Total Liabilities Unitholders' Funds Units in Issue ('000) Net Asset Value (NAV) per Unit ($) Unit Price (Closing price of last trading day) ($) Premium to NAV (%) As at As at +/(-) 30 Jun 2021 31 Dec 2020 % 3,086,204 3,005,038 +2.7 27,550 24,676 +11.6 3,402,457 3,349,828 +1.6 1,197,909 1,165,756 +2.8 1,388,700 1,367,586 +1.5 1,976,136 1,944,652 +1.6 1,633,594 1,633,121 1.21 1.19 2.490 2.810 +105.8 +136.1 +1.7 (-11.4) 30.3 pp Keppel DC REIT 1. Gross borrowings relates to borrowings drawn down from loan facilities and the medium term note programme. 12#13Prudent Capital Management Debt Maturity Profile (as at 30 Jun 2021) Received commitments to refinance loans due in 4Q 2021 11.6% 10.7% 23.0% 5.3% 13.8% 6.7% 9.1% 5.7% 6.2% 1.8% 1.1% 5.0% 2021 2022 2023 2024 2025 2026 SGD AUD GBP EUR Debt Currency Breakdown (as at 30 Jun 2021) EUR 57.2% Total borrowings: ~$1,197.9m SGD 28.0% AUD 7.3% GBP 7.5% As at 30 Jun 2021 Available Facilities Aggregate Leverage¹ Average Cost of Debt² Debt Tenor Interest Coverage (ICR)³ Borrowings on fixed rates ~$397.7m of unutilised credit facilities 36.7% 1.5% per annum Investment Properties Breakdown (as at 30 Jun 2021) Netherlands 6.4% Ireland 9.8% Italy 2.0% 2.8 Years 12.9 times 67% Germany 9.0% Total carrying value: U.K. ~$3.1b 4.6% Asia Australia Australia 10.1% Keppel DC REIT 2. 1. Computed based on gross borrowings and deferred payment as a percentage of deposited properties, both of which do not consider the lease liabilities pertaining to land rent commitments and options. Aggregate leverage as at 31 Dec 20 was 36.2%. Including amortisation of upfront debt financing costs and excluding lease charges. Malaysia 0.8% Singapore 57.3% Europe 13 3. ICR is computed based on the definition set out in Appendix 6 of the Code on Collective Investment Schemes revised on 16 Apr 2020. 4. Based on 100% carrying value as at 30 Jun 2021 without taking into consideration the lease liabilities pertaining to the land rent commitments and options. Intellicentre 3 East Data Centre is separately accounted for under property under development.#14Keppel DC REIT Portfolio Updates 14#15Intellicentre 3 East Data Centre Healthy portfolio occupancy and long WALE will provide stable income stream for Keppel DC REIT. Portfolio Updates ■ Proactive leasing efforts resulted in new, renewal and expansion leases secured with - - clients at the Singapore and Dublin data centres, including some renewals ahead of expiry Including the latest renewal lease signed in July 2021, only 0.8% of leases³ are expiring for the remainder of the year. Completion of Intellicentre 3 East Data Centre (IC3 East DC) in Sydney on 13 Jul 2021 at a total development cost of A$26.0m (approx. S$26.6m4) Commencement of the 20-year triple net master lease with Macquarie Data Centres for Intellicentre Campus5 ■ Granted iseek the option to purchase Keppel DC REIT's 100% interest in the iseek Data Centre in Brisbane for A$34.5m (approx. S$35.3m4) - Key term negotiated together with iseek's long lease renewal, and is in line with Keppel DC REIT's strategy to continually review and selectively consider divestments to ensure an optimal portfolio mix ■ Exercised option for the 30-year extension of the leasehold land tenure for Keppel DC Singapore 2 with effect from 1 Aug 2021 Lease Expiry Profile (as at 30 Jun 2021) Proactively in discussions with clients for contracts expiring in 2021 and 2022 Healthy Portfolio Long Occupancy Portfolio WALE 98.0%¹ 6.5 years¹ 1,2 2021 as at 30 Jun 2021 by leased area By leased lettable area By rental income 1.7% 2022 7.2% 7.6% 17.6% 2023 4.2% 8.2% 2024 7.2% 2025 ≥2026 33.5% 46.2% 23.7% 9.2% 33.7% 1. Post-acquisition of Guangdong Data Centre and assuming the acquisition was completed on 30 Jun 2021, portfolio occupancy would be 98.2%. WALE would be 7.3 years by leased area and 5.3 years by rental income. Keppel DC REIT 23456 2. WALE by rental income was 4.9 years as a higher proportion of rental income is from colocation assets, which typically have shorter lease periods. 3. 4. By leased area, and 1.6% by rental income. As at 30 Jun 2021, leases expiring for the remainder of the year was 1.7% by leased area and 7.6% by rental income. Based on the exchange rate of A$1:S$1.0231, as at 30 Jun 2021. 15 Located within the same site in Macquarie Park, IC3 East DC and Intellicentre 2 Data Centre will be collectively renamed Intellicentre Campus 6. Through its wholly-owned subsidiary, KDCR 1 Limited. The option to iseek Pty Ltd (iseek) will commence on 1 Aug 2021 and expire on 31 Jul 2026. Keppel DC REIT will make the necessary announcements if and when the divestment takes place.#16Diversified and Resilient Portfolio Rental Income by Trade Sector (for the month of Jun 2021)1 Rental Income by Lease Type (for the month of Jun 2021)1 Corporate 1.7% Financial Services 5.3% IT Services 19.8% O Internet Enterprise 46.8% Telecom 26.4% O Colocation 71.5% Shell & core 9.3% Fully-fitted 19.2% AUM Breakdown (as at 30 Jun 2021) Top 10 Clients (for the month of Jun 2021)1 Germany Italy 9.2% 2.0% Ireland 9.8% Netherlands Internet Enterprise One of the largest tech companies globally Telecom Connectivity solutions provider Telecom Connectivity solutions provider 8.5% 6.0% 6.4% Asia Pacific: 68.1% Europe: 31.9% U.K. 4.5% Australia 11.0% IT Services Fortune 500 company Internet Enterprise 5.0% 4.4% Malaysia 0.7% Singapore 56.4% Ownership of Data Centre Components One of the largest tech companies globally IT Services Fortune 500 company Internet Enterprise 4.1% 3.6% Facility Management Servers & Racks One of the largest tech companies globally Telecom Connectivity solutions provider 3.5% IT Services 3.5% DC operator Telecom 2.2% Fortune 500 company Client Lease Type Count WALE² (years) M&E Equipment Colocation Multi 2.8 Fully-fitted Single 11.6 Shell & core Single 6.0 Keppel DC REIT 1. 2. Based on the colocation agreements and lease agreements with clients of the properties, treating the Keppel leases on a pass-through basis to the underlying clients. By leased area as at 30 Jun 2021. 16 38.5%#17Keppel DC REIT Outlook 17#18Global data centre infrastructure projected to reach $200b in 2021, a 6% increase from 2020 as hyperscalers accelerate global data centre expansion, while organisations resume data centre expansion plans¹ Robust and Resilient Data Centre Demand ☐ ☐ End-user spending on public cloud services is forecasted to grow 23.1% in 2021 to $332.3b, up from $270b in 20202 Hyperscale cloud operator capex in the first quarter of 2021 was up by 31% from 2020, reaching a high of US$38b3 ((p)) Worldwide investment in data centre infrastructure expected to surge past US$26b by 20254 Demand for data centres in APAC expected to increase with 5G growth, which will account for ~30% of total mobile subscriptions by 2024, and reach 44% in 20265 Record demand for Europe colocation capacity in 2021 and such demand will remain elevated in 2022 and 20236 Renewable energy increasingly being used as 75% of the power supplied to data centres in Europe will be through renewable energy or carbon-free energy by 2025, with an aim to reach 100% by 20307 Keppel DC REIT Sources: 1. Gartner (Oct 2020); 2. Gartner (Apr 2021); 3. Synergy Research (Jun 2021); 4. Frost and Sullivan (Mar 2021); 5. Ericsson (May 2021); 6. CBRE (Mar 2021); 7. Climate Neutral Data Centre Pact (Mar 2021) 18#19Well-Positioned for Growth The Manager will continue to capitalise on growth opportunities in the data centre industry, and strengthen Keppel DC REIT'S global presence. Keppel DC REIT 1. Proxy to Fast-Growing Tech Sector لتا Resilient asset class with highly defensive and long-term sustainable income stream Strong operational expertise and proven track record Focused and disciplined investment strategy Growing a diversified portfolio of assets globally, with a large and stable client base Over S$2 billion of data centre assets under development. and management through our sponsor, Keppel T&T¹, and Keppel's private data centre funds Ongoing commitment to address climate change issues Utilising green energy, where available, at our data centres Pursuing sustainability-related certifications CLIMATE NEUTRAL DATA CENTER Keppel DC REIT joins industry players in Europe as a signatory of the Climate Neutral Data Centre Pact Potential new sustainable growth opportunities including Keppel Data Centres' Floating Data Centre Park project Keppel T&T has granted the Rights of First Refusal (ROFR) to Keppel DC REIT for future acquisition opportunities of its data centre assets. 19#20Thank You Important Notice: The past performance of Keppel DC REIT is not necessarily indicative of its future performance. Similarly, the past performance of Keppel DC REIT Management Pte. Ltd., as manager of Keppel DC REIT (the "Manager") is not indicative of the future performance of the Manager. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking" statements due to a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes, and the continued availability of financing in the amounts and terms necessary to support future business. Prospective investors and unitholders of Keppel DC REIT ("Unitholders") are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of the Manager on future events. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information, or opinions contained in this presentation. None of the Manager, the trustee of Keppel DC REIT or any of their respective advisors, representatives or agents shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. The value of units in Keppel DC REIT ("Units") and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss 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 that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited ("SGX-ST"). Listing of the Units on SGX-ST does not guarantee a liquid market for the Units. This presentation is for information only and does not constitute an invitation, offer or solicitation of any offer to acquire, purchase or subscribe for Units in Keppel DC REIT. Keppel DC REIT 20 20#21Keppel DC REIT Additional Information 21 21#22Commitment to Sustainability ENVIRONMENTAL STEWARDSHIP In line with Keppel's Vision 2030, we will do our part to combat climate change, and are committed to improving resource efficiency and reducing our environmental impact. RESPONSIBLE BUSINESS The long-term sustainability of our business is driven at the highest level of the organisation through a strong and effective board, good corporate governance and prudent risk management. PEOPLE AND COMMUNITY People are the cornerstone of our business. We are committed to providing a safe and healthy workplace, investing in developing and training our people, and uplifting communities wherever we operate. UN GLOBAL COMPACT Through Keppel Capital, the Manager supports the United Nations (UN) Global Compact as a signatory and adopts the Compact's 10 universal principles, which include human rights, labour, environment and anti-corruption. SUSTAINABLE DEVELOPMENT GOALS Align sustainability approach with the Sustainable Development Goals to ensure that Keppel DC REIT's ESG efforts help address the most crucial sustainability issues globally. Keppel DC REIT 22 22#23Portfolio Overview (as at 30 Jun 2021) Asia Pacific Location Interest Attributable lettable area (sq ft) No. of clients¹ Occupancy rate (%) Valuation² Lease type WALE (years)³ Land lease title Keppel DC Singapore 1 Singapore 100% 109,721 25 93.9 S$298.0m Keppel lease/ Colocation 3.4 Keppel DC Singapore 2 Singapore 100% 38,480 5 98.2 S$174.0m Keppel lease/ Colocation 3.2 Keppel DC Singapore 3 Singapore 90% 49,433 2 100.0 S$238.5m Keppel lease/ Colocation 3.3 Keppel DC Singapore 4 Singapore 99% 83,698 6 95.7 S$386.1m Keppel lease/ Colocation 1.1 Keppel DC Singapore 5 Singapore 99% 92,889 3 100.0 S$356.4m Keppel lease/ Colocation Leasehold (Expiring 30 Sep 2025, with option to extend by 30 years) Leasehold (Granted extension for 30 years wef 1 Aug 2021) Leasehold (Expiring 31 Jan 2022, with option to extend by 30 years) Leasehold (Expiring 30 Jun 2050) Leasehold 2.9 (Expiring 31 Aug 2041) DC1 Singapore 100% 213,815 1 100.0 S$212.0m Triple-net (Fully-fitted) 14.8 Leasehold (Expiring 31 Jul 2044) Basis Bay Data Centre Gore Hill Data Centre Cyberjaya, Malaysia Sydney, Australia 99% 48,193 1 63.1 MYR 71.3m (S$23.4m) Colocation 1.0 Freehold Triple-net A$208.5m 100% 90,955 3 100.0 (Shell & core) / 4.0 (S$205.8m) Colocation iseek Data Centre Brisbane, Australia 100% 12,389 1 100.0 A$34.0m4 (S$34.8m) Double-net5 (Fully-fitted) 10.0 Keppel DC REIT 1. Certain clients have signed more than one colocation arrangement using multiple entities. 2. Based on latest respective independent valuations and respective ownership interests as at 31 Dec 2020, unless otherwise stated. 3. By leased area. 4. Based on latest independent valuation as at 30 Jun 2021 by Cushman and Wakefield, and based on the income capitalisation, discounted cash flow and direct comparison methods. 5. Keppel DC REIT has in place the iseek Lease with the client of iseek Data Centre. While the iseek Lease is called a colocation arrangement, the terms are structured as effectively equivalent to a double-net lease. Freehold Leasehold (Expiring 29 Jun 2040, with option to extend by 7 years) 23#24Portfolio Overview (as at 30 Jun 2021) Location Interest Attributable lettable area (sq ft) No. of clients¹ Occupancy rate (%) Valuation² Lease type WALE (years)³ Land lease title Intellicentre 2 Sydney, 100% 87,930 1 100.0 Data Centre4 Australia A$59.0m (S$58.2m) Triple-net 14.1 Freehold (Shell & core) Intellicentre 3 East Sydney, 100% 86,000 1 100.03 Data Centre4 Australia A$26.0 (Development cost) Triple-net 20.0 Freehold (Shell & core) Europe Cardiff, £36.5m Triple-net Cardiff Data Centre 100% 79,439 1 100.0 10.0 Freehold United Kingdom (S$65.1m) (Shell & core) Leasehold London, GV7 Data Centre 100% 24,972 1 100.0 United Kingdom £37.2m (S$66.3m) Triple-net 5.6 (Expiring (Fully-fitted) 28 Sep 2183) Almere, Almere Data Centre 100% 118,403 1 100.0 The Netherlands €94.2m (S$150.9m) Double-net 7.2 Freehold (Fully-fitted) Amsterdam, €28.0m5 Double-net Amsterdam Data Centre 100% 141,698 10 99.1 4.0 Freehold The Netherlands (S$44.9m) (Shell & core) Leasehold Dublin, Keppel DC Dublin 1 100% 68,118 26 82.6 Ireland €95.9m (S$153.7m) Colocation 3.1 (Expiring 31 Dec 2998) Dublin, Keppel DC Dublin 2 100% 28,128 100.0 Ireland €89.3m (S$143.0m) Colocation 7.4 Leasehold (Expiring 31 Dec 2997) Milan, €38.2m Double-net Milan Data Centre 100% 165,389 1 100.0 6.5 Freehold Italy (S$61.2m) (Shell & core) Offenbach am Main, €94.1m Triple-net maincubes Data Centre Kelsterbach Data Centre 100% 97,043 1 100.0 11.8 Freehold Germany (S$150.7m) (Fully-fitted) Kelsterbach, €79.0m Triple-net 100% 540,869 1 100.0 4.5 Freehold Germany (S$126.6m) (Shell & core) 1. Certain clients have signed more than one colocation arrangement using multiple entities. Keppel DC REIT 2. Based on latest respective independent valuations and respective ownership interests as at 31 Dec 2020, unless otherwise stated. 3. By leased area. 24 4. The development of IC3 East DC was completed on 13 Jul 2021. Located within the same site in Macquarie Park, IC3 East DC and Intellicentre 2 Data Centre will be collectively renamed Intellicentre Campus. 5. Based on latest independent valuation as at 23 Nov 2020.#25Overview of Lease Arrangements Asia Pacific Lease Arrangement Description Keppel DC Singapore 1 Keppel DC Singapore 2 Keppel DC Singapore 3 Keppel DC Singapore 4 Keppel DC Singapore 5 DC1 Keppel lease1/ Colocation² Keppel lease1/ Colocation2 Keppel lease¹ / Colocation² Keppel lease¹/ Colocation² Keppel lease1/ Colocation2 Triple-net lease Basis Bay Data Centre Gore Hill Data Centre (for one client) Colocation² Gore Hill Data Centre (for two clients) Data Centre4 Intellicentre 2 Intellicentre 3 East Data Centre4 iseek Data Centre Keppel DC REIT Triple-net lease Colocation² Triple-net lease Triple-net lease Double-net lease³ Client: Pays rent ■ Owner: Bears all expenses; responsible for facilities management ■Client: Pays rent Owner: Bears all expenses; responsible for facilities management ■Client: Pays rent ■ Owner: Bears all expenses; responsible for facilities management ■Client: Pays rent ■ Owner: Bears all expenses; responsible for facilities management Client: Pays rent Owner: Bears all expenses; responsible for facilities management ■Client: Pays rent and all outgoings except insurance for the shell of the building, responsible for facilities management Client: Pays rent; responsible for facilities management Owner: Bears pre-agreed facilities management amount, insurance and property tax ■ Client: Pays rent and all outgoings; responsible for facilities management in their space ■Client: Pays rent Owner: Bears all expenses; responsible for facilities management ■ Client: Pays rent and all outgoings; responsible for facilities management Client: Pays rent and all outgoings; responsible for facilities management ■Client: Pays rent and all outgoings except building insurance; responsible for facilities management Property Tax I Responsibilities of Owner 25 Building Insurance Maintenance Opex Refresh Capex#26Overview of Lease Arrangements Europe Lease Arrangement Description Cardiff Data Centre GV7 Data Centre Almere Data Centre Triple-net lease Triple-net lease Double-net lease Amsterdam Data Centre Double-net lease Keppel DC Dublin 1 Colocation 2,5 Keppel DC Dublin 2 Colocation 2,5 Milan Data Centre Double-net lease maincubes Data Centre Kelsterbach Data Centre Triple-net lease Triple-net lease ■Client: Pays rent and all outgoings; responsible for facilities management Client: Pays rent and all outgoings; responsible for facilities management Client: Pays rent and all outgoings except building insurance and property tax; responsible for facilities management ■Client: Pays rent and all outgoings except building insurance and property tax; responsible for facilities management ■Client: Pays rent ■ Owner: Bears all expenses; responsible for facilities management ■Client: Pays rent ■ Owner: Bears all expenses; responsible for facilities management Client: Pays rent and all outgoings except building insurance and property tax; responsible for facilities management ■Client: Pays rent and all outgoings; responsible for facilities management ■Client: Pays rent and all outgoings; responsible for facilities management Responsibilities of Owner Property Tax Building Insurance Maintenance Opex Refresh Capex 1 I י 1. Refers to the leases entered into by Keppel DC REIT with the Keppel lessees in relation to Keppel DC Singapore 1, Keppel DC Singapore 2, Keppel DC Singapore 3, Keppel DC Singapore 4 and Keppel DC Singapore 5 respectively. Due to the pass through nature of the Keppel leases, Keppel DC REIT will substantially enjoy the benefits and assume the liabilities of the underlying colocation arrangements between Keppel lessees and the underlying clients. 2. Colocation arrangements are typically entered into by end-clients who utilise colocation space for the installation of their servers and other mission critical IT equipment. Keppel DC REIT is usually responsible for facilities management in respect of such colocation arrangements, except in the case of Basis Bay Data Centre where the client is responsible for facilities management. 3. Keppel DC REIT has in place the iseek Lease with the client of iseek Data Centre. While the iseek Lease is called a colocation arrangement, the terms thereof are structured as effectively equivalent to a double-net lease. 4. The development of IC3 East DC was completed on 13 Jul 2021. Located within the same site in Macquarie Park, IC3 East DC and Intellicentre 2 Data Centre will be collectively renamed Intellicentre Campus. 5. Keppel DC REIT has in place colocation arrangements with the clients of Keppel DC Dublin 1 and Keppel DC Dublin 2. Keppel DC REIT 26#27Keppel DC REIT Structure as (at 30 Jun 2021) Keppel DC REIT Keppel Capital The REIT Manager can leverage the scale and resources of a larger asset management platform Keppel Telecommunications & Transportation The REIT Manager can leverage the Sponsor's expertise and track record in this industry 50% 50% 20.6% Institutional and Public Investors 79.1% 0.3% REIT Manager Management services Acting on behalf of Unitholders Trustee Keppel DC REIT Keppel DC REIT Management Pte. Ltd. Management fees Trustee's fees Perpetual (Asia) Limited Facility Managers¹ Facility management services Facility management fees Ownership of assets Income contribution Properties 1. The Facility Managers are appointed pursuant to the facility management agreements entered into for the respective properties. 27