IMPACT Growth REIT Daiwa Investment Conference Tokyo 2016 Investor - - PowerPoint PPT Presentation

SLIDE 1

Page 1

IMPACT Growth REIT Investor Presentation IMPACT Growth REIT

REIT Manager

Daiwa Investment Conference Tokyo 2016 3-4 March 2016

SLIDE 2

Page 2

• IMPACT Growth REIT Overview
• Operational & Financial Performance
• Prospected new assets

Content

SLIDE 3

Page 3

IMPACT Growth REIT Overview

SLIDE 4

Page 4

IMPACT Growth REIT Structure

IMPACT GROWTH REIT

REIT Manager RMI Company Limited Trustee IMPACT Arena IMPACT Challenger IMPACT Exhibition Center IMPACT Forum Property Manager Public Trust Holders

IMPACT as property manager Manage an

• peration of

all assets Manage the REIT Monitor the REIT Trust Certificates Management fee Freehold

• wnership

Trustee fee

Lenders

Management fee

SLIDE 5

Page 5

Bangkok Land Public Company Limited (“BLand”) is a leading property development and holding company

in Thailand with established track record in the development of large-scale self-contained community projects including Muang Thong Thani Chaengwattana and Muang Thong Thani Bangna

Bangkok Land Public Company limited (“BLand”)

Real Estate Exhibition, Convention Centre & Hotel Building Management and Service Retail Others

Sinpornchai Company Limited (“SPC”) Bangkok Airport Industry Company Limited (“BAIC”) IMPACT Exhibition Management Company Limited

(“ Property Manager”)

Muang Thong Services and Management Company Limited (“MSM”) Muang Thong Building Services Company Limited (“MBS”) Bangkok Land Agency Limited (“Agency”) Bangkok Land (Cayman Islands) Limited (“Cayman”)

100% 100% 100% 97% 97% 99.3% 100%

Bangkok Land Overview

BLand currently operates the largest exhibition and convention facility in Southeast Asia through IMPACT Exhibition & Management Company Limited.

RMI Company Limited (“REIT Manager”)

100%

SLIDE 6

Page 6

REIT Name

IMPACT Growth Real Estate Investment Trust (“IMPACT”)

Sources of Fund

Capital 80% ; 15,714,500,000 THB Debt 20% ; 3,900,000,000 THB

Investment Assets

REIT acquired Freehold Assets of IMPACT Muangthong Thani Project including

• Land, building and utilities system of IMPACT Arena
• Land, building and utilities systems of IMPACT Exhibition Center
• Land, building and utilities systems of IMPACT Forum and P2 Parking Building
• Land, building and utilities systems of IMPACT Challenger and P1 Parking

IMPACT Growth REIT Summary

Sponsor / Property Manager

IMPACT Exhibition Management Company Limited

REIT Manager

RMI Company Limited (a 100% subsidiary of IMPACT)

Trustee

Kasikorn Asset Management Company Limited

Number of Unit

1,482,500,000 Units

NAV

10.8323 ( End of Dec’15)

Listed Date

October 1, 2014

Dividend Policy

At least 90% of the adjusted net profit for the year as distribution to holders of trust units. Distribution to be made includes annual distribution and interim distribution (if any)

SLIDE 7

Page 7

Stock Information

Stock Information

Bloomberg /Reuters : IMPACT.TB/ IMPACT.BK Unit Price (15 –Feb-16) : THB 12.30 Historical price: 52 – week high* THB 12.40 52 – week low* THB 10.30 Average Trading Volume : THB 12.7mn

• No. of unit :

1,482,500,000 Par Value: THB 10.60 Market Capitalization : THB 18.2bn

Major Unitholders

• Source : SETSMART
• From the period of16 Feb 2015 – 15 Feb 2016

9 9.2 9.4 9.6 9.8 10 10.2 10.4 10.6 10.8 11 11.2 11.4 11.6 11.8 12 12.2 12.4 12.6 12.8 13

900 1,100 1,300 1,500 1,700

1/10/2014 13/11/2014 29/12/2014 12/2/2015 27/3/2015 19/5/2015 2/7/2015 17/8/2015 28/9/2015 11/11/2015 28/12/2015 10/2/2016

SET IMPACT

Points

• Bt. / unit

Top 10 Major Unitholders @ 27- Nov-15 1. IMPACT Exhibition Management Co.,Ltd. 50.00% 2. Social Security Office of Thailand 4.06% 3. Allianze Ayudhya Assurance Pcl. 2.23% 4. TMB Property Income Fund 1.96% 5. Government Saving Bank 1.93% 6. Muang Thai Life Assurance Pcl. 1.29% 7. Thanachart Property Sector 1.29% 8. HSBC (SINGAPORE) NOMINEES PTE LTD 1.28% 9. South East Insurance Pcl. 1.27%

• 10. Thai Insurance Plc.

1.27%

SLIDE 8

Page 8

IMPACT has secured the highest market share among 4 key players in Thailand IMPACT offers complete facilities with unique characteristics that suit distinguished need of different types of customers

Royal Paragon (Rama 1 Rd)

Venue Area : 12,000 sq.m. Characteristic : comprise of Royal Paragon Hall 1,2,3 and 5 meeting rooms

BITEC (Bangna-Trad Rd)

Venue Area : 32,000 sq.m. Characteristic : large hall area with an expansion plan

IMPACT (ChaengWattana Rd)

Venue Area : 120,000 sq.m. Characteristic : largest indoor venue area with abundant parking space

QSNCC(Ratchadapisek Rd)

Venue Area : 18,000 sq.m. Characteristic : comprise of 4 zones, each zone has 1 – 3 floor

3 4 1 2

Factors Supporting IMPACT High Market Share 1

Biggest Exhibition Center in South East Asia with over 122,165 sq.m. indoor venue space

2

Ability to host 40,000 – 50,000 visitors at a time

3

Fully equipped with modern and technological advanced facility

4

A one-stop service providers to diverse customers

5

Ample car parking spaces

Source : RMI Co.,Ltd. during 1 Jan 15 – 31 Dec 15

Top MICE Business Players in Thailand

Competitors & Market share

IMPACT 67% BITEC 20% QSNCC 11% PARAGON 2%

SLIDE 9

Page 9

IMPACT Forum IMPACT Exhibition Hall 5-8 IMPACT Challenger IMPACT Arena IMPACT Exhibition Hall 1-4

Strategic Location suitable for MICE businesses

Strategic Location

SLIDE 10

Page 10

Strategic Location suitable for MICE businesses 1 2 4

Connected to 5 main roads of Bangkok and Nonthaburi Located 15 km away from Don Muang Airport and 45 km from Suwannabhumi Airport Accessible by multiple public transports; IMPACT LINK, Bus, Taxi LARGE VENUE IMPACT boasts on its vast venue and complete facilities to accomodate increasing number of visitor on continual basis year after

• year. This fact attracts a number of new

events and repeating events to IMPACT, constituting a strong growth in revenue year

• n year.

5

Potential of upcoming Mass Rapid Transit (Pink Line)

The right location leads to the robust traffic to the events held at IMPACT Muang Thong Thani

3

Located close to Expressways

Why Does customer choose IMPACT

LARGE PARKING AREA Ample Parking spaces is a competitive advantage that allows convenience for commuters. MEETING INCENTIVE CONVENTION & EXHIBITION HUB OF ASIA IMPACT has prepared its property to serve wide range of customer ranging from industrial machine exhibition to international

• concert. Customer can choose among

distintive facilities to suit their need at IMPACT Convention & Exhibition Center. ONE STOP SERVICE IMPACT provides integrated services to customers ranging from F&B catering, event management, operations, floor space consultation to sales&marketing.

Easily access and convenience

SLIDE 11

Page 11

1998 2000 2003 2006 2014

Raised fund through REIT for future expansion

HALL 1-4 ARENA FORUM HALL 5-8 CHALLENGER

“IMPACT has managed the properties since its inception and continuously expanded the project along to accomplish its vision to be Asia’s Top 5 Venues. Currently, IMPACT is the market leader in Thailand MICE industry with the highest market share of occupied venue spaces.”

With more than 15 years of expertise in managing exhibition center, the excellent service provided by the company are widely recognized by to be beyond the expectations. an integrated venue manager with versatile services 1 2 3

floor space consultant event manager skillful operator 4 catering provider 5 media consultant guaranteed by many awards and standard certifications

TIS 22300 MICE Security Management System Certification ISO 50001 Energy Management Standard Certification ISO 22000 Food-Safety Management Standard Certification

TCEB Approved Event Award Thailand Incentive and Convention Association UFI ICT Award 2010 Runner up

High Experience of Property Manager

SLIDE 12

Page 12

1

IMPACT ARENA

2

IMPACT EXHIBITION Center

3

IMPACT FORUM

4

IMPACT CHALLENGER 1-3 Land Building

Land covering the area of approximately 76 Rai (same title deed with the IMPACT Exhibition Hall 1-8) 5-floor building with a gross floor area of 41,810 sq.m. and net leasable area of 16,294 sq.m.

Land Building

Land covering the area of approximately 29 Rai 2-floor building with10-floor parking lot; combined gross floor area of 119,522 sq.m. and net leasable area

• f 25,943 sq.m.

Land Building

Land covering the area of approximately 76 Rai (same title deed with the IMPACT Arena) 8 buildings with a combined gross floor area of 99,519 sq.m. and net leasable area of 53,471 sq.m.

Land Building

Land covering the area of approximately 84 Rai 3 buildings with a combined gross floor area of 221,087 sq.m. and net leasable area of 69,898 sq.m.

4 Initial Assets

All of the four assets comprise IMPACT Muang Thong Thani : The Largest Exhibition and Convention Center in ASEAN

SLIDE 13

Page 13

Long-term Rent to IMPACT Media Space Right Fee Parking Fee Concerts & Events Meetings Exhibitions Conventions Incentives & Parties IMPACT Growth REIT receives revenue from many sources of income Exhibition Venue Service F&B Right Fee Long-term Rent 1 2 2 3 4 5

IMPACT Growth REIT Revenue Structure

SLIDE 14

Page 14

Asset’s Character

IMPACT Arena

Concert Family Show Incentive & party Exhibition Public Exhibition Trade Conference

IMPACT Challenger

SLIDE 15

Page 15

Asset’s Character

IMPACT Exhibition Center Hall 1-8

Exhibition - Trade Exhibition - Public Meeting Conference Meeting Banquet

IMPACT Forum

SLIDE 16

Page 16

Operational & Financial Performance

SLIDE 17

Page 17

Past Performance

2008 – 2014 Occupancy Rate Historical data of Occupancy rate showed that despite many unexpected events during FY2008-14 such as the flood crisis and political turmoil, IMPACT’s overall occupancy rate still able to rise at CAGR for 6 years at 6%

Thailand Mega Flood Coup Bangkok Shutdown Pattaya Riot Rajaprasong Riot

35% 44% 41% 47% 53% 52% 51% 2008/2009 2009/2010 2010/2011 2011/2012 2012/2013 2013/2014 2014/2015

SLIDE 18

Page 18

IMPACT Exhibition Hall 1-8 IMPACT Arena IMPACT Challenger IMPACT Forum

Average Occupany Rate

35% 36% 41% 61% 59% 36%

0% 20% 40% 60% 80% 100%

54% 57% 55% 56% 68% 62%

0% 20% 40% 60% 80% 100%

12% 12% 9%

15% 22% 12% 0.0% 20.0% 40.0%

46% 48% 59% 50% 46% 70%

0% 20% 40% 60% 80% 100%

52.4% 49.0% 50.7% 49.2% 52.5% 60.4% 54.1% 70.0 64.4 63.1 63.8 61.9 60.9 62.1 55.0 60.0 65.0 70.0 75.0

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%

OR ARR Maximum occupancy rate in exhibition and convention industry is approximately 70% (taking into account set-up and tear-down period throughout the year) Occupancy Rate (%) & Average Rental Rate (Bt/sq.m./Day)

Occupancy Rate

1Q 2Q 3Q 2015/2016 2014/2015 2015/2016 2014/2015 2015/2016 2014/2015 2015/2016 2014/2015 1Q 2Q 3Q 1Q 2Q 3Q 1Q 2Q 3Q

FY2014/2015 1Q’2015/2016 2Q’2015/2016 9M’2015/2016 3Q’ 2015/2016 9M2014/2015 3Q’2014/2015

SLIDE 19

Page 19

Service income by Assets

Hall 1-8 and Challenger are IMPACT’s key revenue drivers

Remark: Venue Sales data does not include Outdoor Exhibition Income and Other Income (e.g. reservation fee, interest income, profit from sale of assets, etc.)

Contribute 49%

• f Service income

Contribute 36%

• f Service income

Contribute 7%

• f Service income

Contribute 8%

• f Service income

CAGR of Challenger Venue Sale over 4 years 10.5% CAGR of Hall 1-8 Venue Sale over 4 years 7.3% CAGR of Arena Venue Sale over 4 years 4.7% CAGR of Forum Venue Sale over 4 years -3.4%

200 400 600 800 1,000 1,200 1,400 1,600 1,800

FY2014/2015 1Q'2015/2016 2Q'2015/2016 3Q'2015/2016 9M2015/2016

Million (Baht)

IMPACT Challenger IMPACT Exhibition Hall 1-8 IMPACT Arena IMPACT Forum

FY2014/2015* 1Q’2015/2016 2Q’2015/2016 3Q’2015/2016 9M’2015/2016

* REIT acquired asset on 29th September 2014, thus this performance compose of the REITs 2 days performance of 2Q, 3Q and 4Q of 2014/2015

SLIDE 20

Page 20

Each asset serves 3 main groups of customers; Public Sector, Domestic Private Sector and International Private Sector. The proportion of asset’s revenue contributed by each type of customers are shown in the graphs below. Public Sector

Customer segment in 3Q15/16 :

• 3Q15/16, the Domestic Private Sector is no. 1 proportion at 70%, comparing with Public Sector and Private

International Sector share portion at 24% and 7% respectively. The Public sector share bigger portion in this year compare with 3Q’2014/2015, at 17%.

• The Private International Sector decrease its portion, at 7%, as most of event in this quarter are Thai companies,

which is lower from 3Q’2014/2015, at 14%.

ARENA HALL 1-8 FORUM CHALLENGER

International Private Sector Domestic Private Sector

Average Revenue Contribution by type of customers

14% 20% 21% 7% 15%

69% 60% 49% 70% 60% 17% 20% 30% 24% 25%

0% 20% 40% 60% 80% 100%

Customer Segment

2012/2013 2013/2014 2014/2015 6M2014/15 2012/2013 2013/2014 6M2014/15 2012/2013 2013/2014 2014/2015 6M2014/15 2012/2013 2013/2014 2014/2015 6M2014/15

0% 20% 40% 60% 80% 100% 0% 20% 40% 60% 80% 100%

3Q'2014/2015 1Q'2015/2016 2Q'2015/2016 3Q'2015/2016

0% 20% 40% 60% 80% 100%

3Q'2014/2015 1Q'2015/2016 2Q'2015/2016 3Q'2015/2016

0% 20% 40% 60% 80% 100%

3Q'2014/2015 1Q'2015/2016 2Q'2015/2016 3Q'2015/2016 2Q’2014/2015 1Q’2015/2016 2Q’2015/2016 2Q’2014/2015 1Q’2015/2016 2Q’2015/2016

1Q ’15/16 9M ’15/16 2Q ’15/16 3Q ’14/15 3Q ’15/16

3Q’14/15 1Q’15/16 2Q’15/16 3Q’15/16 3Q’14/15 1Q’15/16 2Q’15/16 3Q’15/16 3Q’14/15 1Q’15/16 2Q’15/16 3Q’15/16 3Q’14/15 1Q’15/16 2Q’15/16 3Q’15/16

SLIDE 21

Page 21

Million Baht 3Q'14/15

% to income 2Q'15/16 % to income

3Q'15/16

% to income

Growth Growth QoQ YoY

Service income 561.13 100% 500.32 100% 572.38 100% 14% 2% Cost of service 77.76 14% 73.26 15% 79.10 14% 8% 2% Gross profit 483.37 86% 427.06 85% 493.27 86% 16% 2% SG&A 31.87 6% 48.94 10% 46.62 8%

• 5%

46% Interest Income 0.23 0% 0.24 0% 0.22 0%

• 5%
• 4%

Other income 0.95 0% 5.66 1% 2.06 0%

• 64%

115% Operating profit 452.69 81% 384.01 77% 448.93 78% 17%

• 1%

Property management fee 11.28 2% 15.61 3% 17.85 3% 14% 58% REIT management fee 30.49 5% 39.08 8% 41.66 7% 7% 37% Trustee's fee 15.26 3% 15.42 3% 15.46 3% 0% 1% Registrar's fee 0.91 0% 0.90 0% 0.90 0% 0%

• 1%

Professional fees 0.72 0% 0.71 0% 0.85 0% 21% 18% Total fee related 58.66 10% 71.72 14% 76.73 13% 7% 31% Financial Cost 48.54 9% 46.59 9% 46.81 8% 0%

• 4%

Total expenses 216.84 39% 240.51 48% 249.27 44% 4% 15% Net Investment incomes 345.48 62% 265.70 53% 325.39 57% 22%

• 6%

Net realised gain on investments in securities 1.21 0% Unrealized gain/loss 1.84 0% 1.59 0% 1.66 0% 4%

• 10%

Total realized and unrealized gains on investments 1.84 0% 1.59 0% 2.87 1% 81% 56% Increase in net asset from operation 347.32 62% 267.29 53% 328.26 57% 23%

• 5%

Earning per share 0.23 0.18 0.22

3Q’2015/16 Income Statement

SLIDE 22

Page 22

Million Baht

22 Sep‘14

• 31 -Dec'14 % to income

9M'15/16 % to income Service income 565.15

100%

1,570.07

100%

Cost of service 78.30

14%

223.21

14%

Gross profit 486.86

86%

1,346.86

86%

SG&A 32.46

6%

150.33

10%

Interest Income 1.38

0%

0.73

0%

Other income 1.72

0%

8.33

1%

Operating profit 457.50

81%

1,205.60

77%

Property management fee 11.38

2%

48.69

3%

REIT management fee 31.71

6%

109.83

7%

Trustee's fee 16.73

3%

46.17

3%

Registrar's fee 1.00

0%

2.71

0%

Professional fees 0.82

0%

2.66

0%

Total fee related 61.63

11%

210.07

13%

Financial Cost 49.62

9%

140.32

9%

Total expenses 222.00

39%

723.92

46%

Net Investment incomes 346.25

61%

855.21

54%

Net realized gain on investments in securities 1.21

0%

Unrealized gain/loss 1.84

0%

5.227

0%

Total realised and unrealised gains on investments 1.84

0%

6.44

0%

Increase in net asset from operation 348.09

62%

861.65

55%

Earning per share 0.23 0.58

9M’2015/16 Income Statement

SLIDE 23

Page 23

Revenue & Cost Structure

83% 8% 6% 3% Venue Sale F&B Right fee & Media Right Fee Service / Long term rental Parking Income

Service Income Breakdown Cost of Sale Breakdown Admin cost Breakdown

50% 20% 13% 9% 8%

Utility cost Security, Cleaning,Laundry Property Tax service cost (Equipment +sound + casual) Other cost

36% 33% 15% 12% 4% Utility &Service & cleaning Repair & Maintenance Equipment Other Bank fee & Other fee

For 9 month period from April – December 2015

SLIDE 24

Page 24

Balance Sheet as at 31 Dec’ 15

Million baht

FY2014/2015 % to 3Q'2015/2016 % to Change

End of Mar'15 total assets End of Dec'15 total assets Investment in Properties in fair Value 19,603.00 96% 19,604.00 96% 0.0% Investment in Securities at fair value 402.07 2% 501.51 2% 24.7% Cash and cash at Bank 204.87 1% 146.22 1%

• 28.6%

Receivables from service 180.26 1% 93.50 0%

• 48.1%

Interest 0.28 0% 0.02 0%

• 94.2%

Prepaid expense 7.82 0% 5.18 0%

• 33.8%

Other assets 6.01 0% 7.46 0% 24.0% Total assets 20,404.30 100% 20,357.89 100%

• 0.2%

Trade Payable 70.40 0% 86.71 0% 23.2% Other Payable 9.04 0% 8.25 0%

• 8.8%

Accrued expenses 132.33 1% 109.66 1%

• 17.1%

Unearned income 202.87 1% 108.35 1%

• 46.6%

Security Deposits 13.66 0% 8.96 0%

• 34.4%

Other liabilities 70.68 0% 76.97 0% 8.9% Long - term loans 3,900.00 19% 3,900.00 19% 0.0% Total liabilities 4,398.99 22% 4,298.88 21%

• 2.3%

Net Assets 16,005.31 78% 16,059.00 79% 0.3% Capital from Unitholders 15,714.50 77% 15,714.50 77% 0.0% Retain Earnings 290.81 1% 344.50 2% 18.5% Net assets 16,005.31 78% 16,059.00 79% 0.3% NAV 10.7961 10.8323

SLIDE 25

Page 25

Debt , 3,900 Equity , 16,059

IMPACT Growth REIT Prudent Capital Structure

Details of IMPACT Growth REIT debt structure

 Two long-term debts tranches based on floating interest rate To fund the acquisition of IMPACT Growth REIT’s initial assets

• Tenor: 5 -7 Years
• Interest Rate: Floating rate based on MLR
• Repayment Schedule: Bullet Loan and amortized
• Collateral: Land and building mortgage

To fund the maintenance/renovation of IMPACT Growth REIT’s assets

• Tenor: 5 years
• Interest Rate: Floating rate based on MLR
• Line for capital expenditures and normal repair &

maintenance expenditures

• Ensured source of fund are available for major

maintenance/renovation besides those from normal operation

• Collateral: Land and building mortgage
• Expected maximum total debt of THB 4,080 Million
• Loan to total assets is at 19%, from the maximum limit at 35%
• 5 -7 year loan tenor
• Likely methods of refinancing can either be in a form of bond offering or bank loan. The REIT manager will perform

the refinancing with the most cost-effective manner. Lower REIT’s cost of capital by utilizing the optimal debt structure Tranche 1: Acquisition Tranche of THB 3,900 Million Tranche 2: Maintenance Tranche of THB 180 Million

Unit : THB million

SLIDE 26

Page 26

Performance

Efficiency Ratios (Annualized return) Profitability Ratios Debt Covenant

86% 87% 86% 85% 86% 81% 81% 75% 76% 78% 70% 61% 62% 62% 65% 62% 52% 53% 53% 57%

3Q'2014/2015 4Q'2014/2015 1Q'2015/2016 2Q'2015/2016 3Q'2015/2016 GPM OPM EBITDA margin NPM 4% 6% 6% 6% 7% 7% 8% 10% 10%

1Q'2015/2016 2Q'2015/2016 3Q'2015/2016 ROA ROE ROIC

19% 19% 19% 19%

2.81 3.13 3.14 3.03

7.38 6.63 6.67 7.10 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 1 2 3 4 5 6 7 8 FY2014/2015 1Q'2015/2016 2Q'2015/2016 3Q'2015/2016 Loan / Total asset Interest Coverage Debt/EBITDA DSCR

* Debt/EBITDA , EBITDA = Annualized EBITDA

*

SLIDE 27

Page 27

• At least 90% of the adjusted net profit for the year as distribution to holders of trust units. Distribution to be made

includes annual distribution and interim distribution (if any)

• The distribution shall pay not over 4 times per year.

Distribution Policy Historical Dividend Payment

0.234 0.191 0.426 0.179 0.180 0.221 0.581 0.230 0.190 0.420 0.175 0.180 0.190 0.545

0.000 0.100 0.200 0.300 0.400 0.500 0.600 0.700 3Q'2014/15 4Q'2014/15 FY2014/2015 1Q'2015/16 2Q'2015/16 3Q'2015/2016 9M'2015/2016

EPS DPU

Baht/ Unit

92% Dividend Payout

Historical Dividend Payment

Distribution

96% Dividend Payout

* REIT acquired assets on 29th September 2014, thus this performance compose of the REITs 2 days performance of 2Q, 3Q and 4Q of 2014/2015

*

SLIDE 28

Page 28

Prospected new assets

SLIDE 29

Page 29

4 star hotel adjacent to IMPACT Challenger and Forum 380 rooms with 71% Occupancy Rate, THB1,745 ARR Main customers come from IMPACT’s customers and tour group

Novotel Bangkok IMPACT

Office building with 86% Occupancy Rate 49,845.85 sq.m. with Average rental rate @ THB340 Rental rate adjusted 15% every 3Y

New Geneva Office Building

2,000 cars capacity Indoor Parking with “Outlet square sitting on the same property Oct – Dec’ 15 number of cars were parked at P3 Indoor parking is 54,369 cars. Directly connected to IMPACT Growth REIT’s properties via a sky-bridge

P3 Indoor Parking

Prospected New Assets

Call Option Enhanced Rights of First Refusal (ROFR)

Rights of First Refusal (ROFR) Under the condition of the REIT has rights of First Refusal

• IMPACT Growth REIT can offer to buy any

future developed exhibition/convention assets from IMPACT Exhibition Management Co.,Ltd.

• Once IMPACT Exhibition Management Co.,Ltd.

refuses REIT’s offer, IMPACT Exhibition Management Co.,Ltd. can sell to other parties

• nly if the sale conditions are superior to REIT’s
• ffer
• IMPACT Exhibition Management Co.,Ltd. must

first offer to IMPACT Growth REIT any of its current and future exhibition/convention assets before offering to other entities

3 Year Term

SLIDE 30

Page 30

Future Investment in Muang Thong Thani

Water Park Marina

Link bridge & 4 Storey Building

Cosmo Office Park IBIS Hotel New Investment Projects which are developed by Bangkokland Plc. in the next 3-6 years term. These 6 assets provide long term strategic to the REIT and also come with high potential to be acquired into IMPACT Growth REIT 3-6 Year Term 2 3 1 4 5 Pullman Hotel 6

SLIDE 31

Page 31

Marina

• 2 Pontoons
• 36 Yacht Ships
• Equipped with water and power supply
• One 8m wide boat ramp
• Completion in May 2016
• Water Front dining + Boat ShowRoom and Shopping will be later developed surrounded the lake

Future Investment in Muang Thong Thani

1

SLIDE 32

Page 32

IBIS Hotel

• Budget hotel with 600 rooms, near IMPACT Exhibition Center
• Target for government sector which have hotel budget under THB 1,000/ night
• Completion in the 1st Quarter 2017

Future Investment in Muang Thong Thani

2

SLIDE 33

Page 33

Link Bridge & 4 Storey Building

• Air Conditioned bridge linking Challenger Halls with IEC Halls and Arena
• 4 Storey building 7,630 m2 (net area) of Food and Beverage facilities with a multipurpose hall on level 4
• Completion in 1st Quarter 2017

Future Investment in Muang Thong Thani

3

SLIDE 34

Page 34

Cosmo Office Park

• 58,321 sq.m. prime office spaces
• Average Rental Rate at THB 450 / sq.m. Rental Rate adjusted 15% every 3 year
• Completion in the 1st Quarter 2017

Future Investment in Muang Thong Thani

4

SLIDE 35

Page 35

Water Park

• Approximately 100,000 sq.m.
• The largest in Southeast Asia
• Beauty Setting on the Lake and Floating stage with 3,000 seat amphitheater for MICE activity and corporate assembly.
• Making the IMPACT Exhibition and Convention Center the one stop MICE destination

Future Investment in Muang Thong Thani

5

SLIDE 36

Page 36

Pullman Hotel

• 5-star hotel
• 300 Luxury rooms, located on the lake-shore
• Completion in the1st quarter 2018

Future Investment in Muang Thong Thani

6

SLIDE 37

Page 37

Q&A