CPN Retail Growth Leasehold REIT Analyst Meeting 2Q20 19 August - PowerPoint PPT Presentation

CPN Retail Growth Leasehold REIT Analyst Meeting 2Q20 19 August 2020

Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer • or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in CPN Retail Growth Leasehold REIT (CPNREIT and units in CPNREIT, “Units”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. This presentation may include information which is forward-looking in nature. Forward-looking information • involve known and unknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which CPNREIT operates and general achievement of CPNREIT business forecasts, which will cause the actual results, performance or achievements of CPNREIT to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation. This presentation has been prepared by the CPN REIT Management Company Limited as the REIT Manager of • CPNREIT. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the REIT Manager or Property Manager or any of its agents or advisers, or any of their respective affiliates, advisers or representatives, shall have any liability (in 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. This presentation is made, furnished and distributed for information purposes only. No part of this presentation • shall be relied upon directly or indirectly for any investment decision-making or for any other purposes. This presentation and all other information, materials or documents provided in connection therewith, shall not, • either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws. Prepared by Investor Relations, CPN REIT Management Co., Ltd. Disclaimer Page 2

Agenda Business Updates Operation Highlights Key Financial Highlights Prepared by Investor Relations, CPN REIT Management Co., Ltd. Agenda Page 3

Business Updates Prepared by Investor Relations, CPN REIT Management Co., Ltd. Agenda Page 4

Impact from COVID-19 in 2Q20 NORTHERN THAILAND [1] Shopping Centers - Adjusting operating hours to be 11am-8pm Chiangmai Airport 23 Mar – 16 May 2020 - Only the supermarket, c-stores, drug stores, F&B (delivery & take-out only) and bank branches were opened within malls. Office Buildings - Operating as normal - Temporary closure of non-essential businesses 5 malls & 1 Hotel i.e. tutoring centers, spas, aesthetic clinics temporarily Hilton Pattaya closed BANGKOK METRO AREA (BMA) [3] - Operating as normal in Jan-Mar 2020 Rama 2 22 Mar – 16 May 2020 - Temporary closure from Apr 2020 Rama 3 - Accelerating the renovation to start in Apr Pinklao 2020 and expecting to complete in Oct 2020 CPNREIT measures : - Provided rent waiver to tenants that cannot EASTHERN THAILAND [2] be opened for business Pattaya Beach 25 Mar – 16 May 2020 - Provided rental discount to affected tenants Hilton Pattaya 1 Apr until further notice - Facilitated safety and convenience for (Renovation : Apr-Oct 2020) visitors by arranging areas for F&B delivery and take-away by adopting the best practices for social distancing and call center system , pick-up counters and drive- thru services. Note: [ ] Number in bracket is number of project located in the that area Prepared by Investor Relations, CPN REIT Management Co., Ltd. Impact from COVID-19 Page 5

Traffic: Re-opening on 17 May 2020 (Phase 2 Easing Restriction, curfew 23pm-4am) TRAFFIC 80,000 70,000 RM2 RM3 PKO CMA PTB 60,000 50,000 40,000 30,000 20,000 10,000 - Prepared by Investor Relations, CPN REIT Management Co., Ltd. Impact from COVID-19 Page 6

Traffic: Re-opening on 17 May 2020 (Phase 3 Easing Restriction & Curfew 23pm-3am) TRAFFIC - JUN 2020 80,000 70,000 RM2 RM3 PKO CMA PTB 60,000 50,000 40,000 30,000 20,000 10,000 - Prepared by Investor Relations, CPN REIT Management Co., Ltd. Impact from COVID-19 Page 7

Traffic: Re-opening on 17 May 2020 (Phase 4 Easing Restriction – Operating Hours 10am-21pm) TRAFFIC - 15-30 JUN 2020 80,000 RM2 RM3 PKO CMA PTB 70,000 60,000 50,000 40,000 30,000 20,000 10,000 - Prepared by Investor Relations, CPN REIT Management Co., Ltd. Impact from COVID-19 Page 8

Rental Discount Policy Tenants Temporary Closure Re-opening 22 Mar-16 May 2020 17 May 2020 onwards Average 40-50% Food/Non – Food Free Rent Depends on % of Sales Growth Bank/Non-Bank/Service Provider ~ 40% ~ 20% Closed due to the government order Free Rent Free Rent % Rental Discount (exclude NTG, UHG) 100% 87% 80% 63% 60% 50% 39% 40% 20% 0% Mar-20 Apr-20 May-20 Jun-20 Prepared by Investor Relations, CPN REIT Management Co., Ltd. Impact from COVID-19 Page 9

Operation Highlights Prepared by Investor Relations, CPN REIT Management Co., Ltd. Agenda Page 10

NLA and Occupancy Rates The Ninth Towers & Unilever House ‘000 sqm NLA (1) CentralFestival Pattaya Beach CentralPlaza 400 Chiangmai Airport 327 327 Acquired Projects 300 249 249 248 224 218 225 249 200 218 Existing Projects 181 100 0 1Q20 2Q20 2014 2015 2016 2017 2018 2019 Average Occ. Rate (1) (%) 100 96 95 95 95 95 94 90 80 98 98 99 99 97 97 97 97 97 96 96 94 94 70 91 90 89 89 88 86 89 60 100 96 99 94 93 96 97 94 90 96 98 94 89 96 99 95 84 95 99 95 61 100 94 99 94 50 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 Rama 2 Rama 3 Pinklao (Retail) Pinklao (A&B) Chiangmai Airport Pattaya Beach Hilton Pattaya The Ninth Towers Unilever House Total (Excl.Hilton) Note: (1) Anchor and in-line tenants only Prepared by Investor Relations, CPN REIT Management Co., Ltd. Operation Highlights Page 11

Tenant Mix by Area Category by Area RM2 RM3 PKO CMA PTB 2Q20 1Q20 Fashion 22% 13% 36% 29% 23% 24% 24% Food & Beverage 21% 25% 27% 20% 17% 22% 23% Entertainment Service 14% 27% 11% 18% 40% 21% 20% Technology 13% 5% 9% 8% 5% 8% 8% Specialty 9% 12% 5% 11% 6% 9% 9% Beauty & Clinic Service 12% 9% 7% 5% 5% 8% 8% Other 9% 9% 7% 7% 5% 8% 8% Total 100% 100% 100% 100% 100% 100% 100% Prepared by Investor Relations, CPN REIT Management Co., Ltd. Operation Highlights Page 12

Rental Structure % of occupied area 32 CPNREIT CPNREIT 47 (Plaza) 53 (Office) 68 100 Fixed Rent 36 41 Pinklao Tower A&B 59 % of Tenant Sales 64 100 38 38 49 51 62 62 100 Note: Information as of 30 June 2020 Prepared by Investor Relations, CPN REIT Management Co., Ltd. Operation Highlights Page 13

New and Renewed Leases From 1 April to 30 June 2020 Project Renewals and New Leases /1 No. of Leases Area (sqm) % of Total /2 CentralPlaza Rama 2 17 2,074 6% 2 351 2% CentralPlaza Rama 3 1 109 1% CentralPlaza Pinklao 5 793 3% Pinklao Tower A and B CentralPlaza Chiangmai Airport 15 2,242 9% CentralFestival Pattaya Beach 3 252 1% 11 10,447 20% The Ninth Towers Total/Average 54 16,267 8% Note: /1 Exclude rental agreements < 1 year and Anchor tenants /2 Percentage of in-line tenants' leasable area as of 30 June 2020 Prepared by Investor Relations, CPN REIT Management Co., Ltd. Operation Highlights Page 14

Lease Expiry Profile % of occupied area and expiry by year Unilever Y2034 SFX Cinema CDS Y2025 100% 36% 22% 11% 28% 31% 27% 13% 58% 35% 40% 32% 37% 27% 13% 36% 24% 27% 11% 15% 43% 18% 10% 43% 31% 43% 18% 10% 29% 9% 8% 7% 9% 0% 0% 0% 2H20 Y2021 Y2022 BEYOND Y2022 CentralPlaza Rama 2 CentralPlaza Rama 3 CentralPlaza Pinklao (Retail) Pinklao Tower A&B CentralPlaza Chiangmai Airport CentralFestival Pattaya Beach The Ninth Tower Unilever House CPNREIT Note:Information as of 30 June 2020 Lease expiry excludes rental agreements < 1 year Prepared by Investor Relations, CPN REIT Management Co., Ltd. Operation Highlights Page 15

Key Financial Highlights Prepared by Investor Relations, CPN REIT Management Co., Ltd. Agenda Page 16