2Q 2020 Financial Results

Prudent Capital Management Debt Facilities (SGD million) Debt Headroom¹ 554 Debt Headroom¹ 774 Debt Headroom¹ 724 Offshore Debts 125 Offshore Debts 125 Offshore Debts 250 Aggregate Leverage 27.8% Onshore Debts 367 Aggregate Leverage 28.1% Onshore Debts 370 Aggregate Leverage 29.4% Onshore Debts 270 31 December 2019 45% Limit 30 June 2020 50% Limit² After Refinancing 50% Limit² 1. Debt headroom is computed based on 31 December 2019 and 30 June 2020 total assets and assuming a corresponding increase in total assets with new debts raised. 2. 50% leverage limit is based on MAS's revised leverage limit Note: All calculations are done according to the SGD to RMB exchange rate of 5.1739 as at 31 December 2019, 5.0813 as at 30 June 2020 and 4.9975 as at 10 September 2020 after refinancing SGinvestors REIT SASSEUR 31

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