Investor Presentaiton

Managing risk while maintaining growth prospect 5 Resilient Portfolio Attractively structured and long- dated lease terms Non-terminable lease contracts Growth-focused lease agreement Recoverable basis lease agreement Terms include security deposits of 3-months rent and 3-months service charge to boost our working capital and provide more financial flexibility, and at the same time minimising tenant default risk. Healthy portfolio WALE (by NLA) as at 30 Sep 2020: Existing Portfolio = 3.4 years; Enlarged Portfolio with Lippo Mall Puri = 3.5 years. Lease contracts are generally non-terminable by the tenant upon signing. This provides visibility to the Trust's rental revenues and cash flow which minimises business risk. Lease contracts mainly comprise base rates with a fixed annual escalation of approximately 5%, thereby providing LMIR Trust with a steady growth trajectory. Lease agreements are typically structured on a recoverable basis, where tenants pay service charges to be offset against operating expenses. This ensures that the impact to LMIR Trust from the increase in property expenses will be minimal and improves the resilience of LMIR Trust's operating margin. Maintaining long-term growth trajectory while minimising the business risk involved In response to the Covid-19 pandemic, overall, we have reduced rentals and service charge billings to tenants to adjust to the reduced opening hours of the properties. We have also reduced rentals we receive from certain key tenants in order to support their business recovery. During the closure of LMIR Trust's properties, service charge was billed at a 40% discount to tenants. Upon resumption of mall operations, service charge billings to tenants were reduced by 33% to account for the shorter operating hours. We have converted certain fixed rental agreements to revenue-based rentals, especially for F&B and hypermarket tenants, on a temporary basis. 23 23

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