Third Quarter FY2019 Fin inancial l Results 31 May 2019 KEY - - PowerPoint PPT Presentation

Third Quarter FY2019 Fin inancial l Results

31 May 2019

2

• Properties in Malaysia and Japan under master leases
• 3Q FY2019 average occupancy rate for properties in

Australia at 84.5%, 4.6 percentage points lower as compared to 3Q FY2018 due to the renovation at Brisbane Marriott

• 3Q FY2019 ADR for properties in Australia at AUD292,

3.3% higher as compared to 3Q FY2018

• 3Q FY2019 RevPAR for properties in Australia at AUD247,

2.1% lower as compared to 3Q FY2018

• Renovation Capex
• Brisbane Marriott (Completed): AUD18 million
• Melbourne Marriott (Planned): AUD1 million

PORTFOLIO MANAGEMENT HIGHLIGHTS FINANCIAL

KEY HIGHLIGHTS –3Q FY2019

CAPITAL MANAGEMENT

• Income available for distribution of RM32.6

million, -1.35% q-o-q

• 1.9116 sen distribution per unit (“DPU”)

declared for 3Q FY2019

• Average interest rates for the quarter

‐ Borrowings in Ringgit Malaysia : 5.0% ‐ Borrowings in Australian Dollar : 4.5% ‐ Borrowings in Japanese Yen : 0.8%

• Debt headroom of ~RM835 million for acquisitions

(Leverage limit reduced to 50% under new regulatory guidelines)

1

Fin inancial performances 3Q FY2019

Pang angkor Lau Laut Reso esort Per erak Dar Darul Ridz Ridzuan, , Mala alaysia

1 January - 31 March 3Q FY2019 3Q FY2018 Change Total Revenue 125.9 129.2 (2.5%)

• Hotel Revenue (Management Contracts)

85.5 91.5 (6.6%)

• Lease Rental (Master Leases)

40.4 37.6 + 7.4%

Net Property Income (NPI) 67.4 67.9 (0.8%)

• Management Contracts

29.6 32.8 (9.8%)

• Master Leases

37.8 35.1 + 7.8%

Income available for distribution 32.6 33.0 (1.4%) Income distribution 32.6 33.0 (1.4%)

• from current quarter

32.6 33.0 (1.4%)

Distribution per unit (DPU) (sen) 1.9116 1.9378 (1.4%) Payout ratio (%) 100.0 100.0 0.0 pp*

Not Notes: es: (1 (1) Decrea reased ed ma mainl nly due due to to (i) the refurbi efurbish shment ent exercis ercise at at Brisban bane Ma Marri rriot

• tt and

and (ii) the we weak akeni ening ng of

• f Aust

stra ralian an Dol

• llar

ar agai ains nst Ringgi nggit Ma Malay aysi sia. (2 (2) Incre reas ased ed ma mainl nly due due to to the acqui quisition of

• f The

The Gr Green een Le Leaf af Ni Nise seko Vi Village age in in Sept ptembe mber 2018 18. All figures gures in RM M mi million

• n unless

s indi dicat ated ed ot

• therw

erwise se. 4

FINANCIAL PERFORMANCE: 3Q FY2019

* pp =

= ch change in percentage points

(2) (2) (1) (1)

RM ('000) As at 31 March 2019 (Unaudited) As at 30 June 2018 (Audited) Change Investment properties 2,595,908 2,371,618 + 9.5% Property, plant and equipment 1,874,326 1,947,753 (3.8%) Cash & cash equivalents 149,136 155,457 (4.1%) Other assets 43,838 36,827 + 19.0% Total Assets 4,663,208 4,511,655 + 3.4% Borrowings 1,906,909 1,687,694 + 13.0% Other liabilities 112,986 105,450 + 7.1% Total Liabilities 2,019,895 1,793,144 + 12.6% Net Asset Value (NAV) 2,643,313 2,718,511 (2.8%) Number of units in circulation ('000) 1,704,389 1,704,389 0.0% NAV per unit (RM) 1.551 1.595 (2.8%)

5

STATEMENT OF FINANCIAL POSITION

Not Notes es: (1 (1) Incre reas ased ed due e to

• the acqui

quisition

• n of
• f The

e Gr Green en Le Leaf af Ni Nisek seko

• Vi

Village ge on

• n 26 Sept

eptem ember ber 2018 18. (2 (2) Incre reas ased ed due e to

• the acqui

quisition

• n of
• f The

e Gr Green en Le Leaf af Ni Nisek seko

• Vi

Village ge on

• n 26 Sept

eptem ember ber 2018 18 and d draw awdow down n for

• r refu

furbi rbishm hmen ent of

• f Brisban

ane Ma Marri rriot

• tt.

(3) 3) After r tot

• tal

al income me dist stri ribu bution n of

• f RM98.

8.4 4 mi million n in n resp spec ect of

• f YT

YTD FY2 Y201 019. 9.

(3) (1) (2) (3)

6

Qu Quarterly Br Brea eakdown

Not Notes: es: 1. 1. Quar arterl rly dist stri ribut utions ns comme

• mmenc

nced ed duri ring ng the fina nanc ncial al year ar ende ded d 30 June ne 2014. 14. 2. 2. DPUs s subs ubsequ quent ent to

• the

e issu ssuan ance e of

• f 380,

0,00 000, 0,00 000 0 new plac acem ement ent units on

• n 16 Decem

ember ber 2016 16 are based sed on

• n the

e enlarg arged ed number mber of

• f units in issu

ssue.

DPUPERFORMANCE

DPU (sen)

Total DPU DPU

1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q

1.9737 1.9219 1.9917 1.9387 1.9378 1.9116 1.9651 FY2018 FY2019 6.4855 6.4855 7.6359 7.3803 8.4613 7.9746 7.8938 8.0838 7.8683 5.7722 5 10 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

FY2018 FY2019 Cumulative 134.1 98.4 4Q 33.5 3Q 33.0 32.6 2Q 33.9 33.0 1Q 33.6 32.8 Total Distributions*

* In RM million

47.8 58.1 55 55.1 67.7 67.9 56 56.3 69.3 67.4 50 50 100 150

4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q RM (mill illio ion) RM (mill illio ion)

7

QUARTERLY FINANCIAL PERFORMANCES

TOTALrevenue NETproperty income

FY2 Y2018 FY2 Y2017 FY2 Y2019

2.5% 2.5% 0.8% 0.8%

111.1 116.6 120.5 134.7 129.2 113.9 132.5 125.9 50 50 100 150

4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q

31.7 32.8 3.3 3.3 31.7 29.6 6.0 6.0

50 50 100 100

Malaysi sia Australi lia Japan

33.5 91.5 4.1 4.1 33.5 85.5 6.9

50 50 100 100

Malaysi sia Australi lia Japan RM RM (m (mil illion) RM RM (m (mil illion)

3Q 3Q FY2 Y2019 3Q 3Q FY2 Y2018

8

QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY

TOTALrevenue NETproperty income

9.8% 9.8% 82 82.0% .0% 69 69.7% .7% 6.6% 6.6%

20 20 40 40 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 6 12 12 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q

FY2015

9

NPI FOR AUSTRALIA IN AUD AND RM

AUD D (m (mil illion) RM RM (m (mil illion)

NPI in RM impacted by the foreign exchange effects of the weaker AUD relative to RM

4.5% 4.5% 9.8% 9.8%

FY2014 FY2016 FY2017 FY2018 FY2015 FY2014 FY2016 FY2017 FY2018 FY2019 FY2019

60 60 120 180 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 2 4 6 8 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q

10

78 78.3% .3%

FY2014

NPI FOR JAPAN IN JPY AND RM

JP JPY Y (m (mil illion) RM RM (m (mil illion)

NPI in RM impacted by the foreign exchange effects of the stronger JPY relative to RM

82 82.0% .0%

FY2018 FY2015 FY2016 FY2017 FY2014 FY2018 FY2015 FY2016 FY2017 FY2019 FY2019

Not Notes: es: (1) 1) As at 29 Ma March h 2019 19. (2) 2) For

• r the

e quart arter er ended nded 31 Ma March h 2019 19. 11

RM RM Outp utperform FB FBMKLCI Und nderperform FB FBMKLCI

UNIT PRICE PERFORMANCE

YTL Hospitality REIT’s Uni nit Pric rice Mo Movement & & Rela elativ ive Per erfor

• rmance to
• FBM

FBMKLCI (1 (1 Ja January ry 2012 to

• 31 Mar

March 2019)

%

TRA RADING STATISTIC Closing price (1) RM1.28 Market Cap (RM) (1) RM2,182 mil Units issued (1) 1,704,388,889 Average daily traded volume for 3Q FY2019 (‘000 units) (2) 433.2

Source: Bloomberg

Relative Performance (right scale)

YTL Hospitality REIT’s Uni nit Pric rice Mo Movement & & Rela elativ ive Per erfor

• rmance to
• REI

REIT T Ind ndex (1 (1 Oc Octob

• ber 2017 to
• 31 Mar

March 2019)

RM RM % Outp utperform RE REIT Ind ndex

Unit Price (left scale) Relative Performance (right scale) Unit Price (left scale) 5 10 10 15 15 1.00 1.05 1.10 1.15 1.20 1.25 1.30 1.35 Oct-17 Ja Jan-18 Apr-18 Ju Jul-18 Oct-18 Ja Jan-19

• 40
• 20

20 20 40 40 0.80 1.00 1.20 1.40 Ja Jan-12 Apr-12 Ju Jul-12 Oct-12 Ja Jan-13 Apr-13 Ju Jul-13 Oct-13 Ja Jan-14 Apr-14 Ju Jul-14 Oct-14 Ja Jan-15 Apr-15 Ju Jul-15 Oct-15 Ja Jan-16 Apr-16 Ju Jul-16 Oct-16 Ja Jan-17 Apr-17 Ju Jul-17 Oct-17 Ja Jan-18 Apr-18 Ju Jul-18 Oct-18 Ja Jan-19

2

Fin inancial performances: : 9 months ended 31 March 2019 (YTD FY2019)

JW Mar arriott Kua uala Lum Lumpur, Mala alaysi sia

1 July - 31 March YTD FY2019 YTD FY2018 Change Total Revenue 372.2 384.4 (3.2%)

• Hotel Revenue (Management Contracts)

253.4 280.9 (9.8%)

• Lease Rental (Master Leases)

118.8 103.4 + 14.9%

Net Property Income (NPI) 193.0 190.7 + 1.2%

• Management Contracts

82.9 95.2 (12.9%)

• Master Leases

110.1 95.5 + 15.3%

Income available for distribution 98.4 100.6 (2.2%) Income distribution 98.4 100.6 (2.2%)

• from current year

98.4 100.6 (2.2%)

Distribution per unit (DPU) (sen) 5.7722 5.9032 (2.2%) Payout ratio (%) 100.0 100.0 (0.0 pp*)

13 Not Notes: es: (1 (1) Decrea reased ed ma mainl nly due e to

• (i)

) the refurbi efurbish shment ent exercis ercise at Brisban bane e Ma Marri rriot

• tt and

d (ii) the we weak akeni ening ng of

• f Aust

stra ralian an Dol

• llar

ar agai ainst Ringgi nggit Ma Malay aysi sia. a. (2 (2) Inc ncrea rease sed mai ainly du due to to (i (i) the ac acqu quisi sition of

• f The

The Gre reen en Lea eaf Nise seko Village ge in in Sep eptem ember er 2018 18 and and (i (ii) 9 mo mont nths of

• f cont

ntri ribut utions ns fro from (a (a) the he lease se ren ental inc ncom

• me of
• f The

The Maje jest stic Hotel el Kua uala Lum umpu pur fo for YTD TD FY FY20 2019 as as comp

• mpare

ared to to 5 mon months hs in in YT YTD FY FY201 018 and and (b) b) the 5% step ep-up up leas ase rent ntal al incom

• me for
• r JW

JW Ma Marri rriot

• tt Hot
• tel

el Ku Kuala Lu Lumpur mpur in in YT YTD FY FY201 019 as as comp

• mpare

ared to to 4 mon months hs in in YT YTD FY FY201 018. All figures gures in RM M mi million

• n unless

s indi dicat ated ed ot

• therw

erwise se.

FINANCIAL PERFORMANCES: 9 MONTHS ENDED 31 MAR 2019 (YTD FY2019)

(1) (2) (2) (1)

* pp =

= ch change in percentage points

14

9 MONTHS (1 JUL-31 MAR)FINANCIAL PERFORMANCES

TOTALrevenue NETproperty income

RM (million) RM (million)

1.2% 1.2% 3.2% 3.2%

9 months (1 Jul – 31 Mar) 9 months (1 Jul – 31 Mar)

83.2 22.8 52.9 192.2 324.6 323.4 325.1 338.6 384.4 372.2

100 100 200 200 300 300 400 400 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 68 68.8 21 21.5 49 49.4 13 134.9 15 157.7 15 159.2 15 151.6 16 161.8 19 190.7 19 193.0 50 50 100 100 150 150 200 200 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

FY2 Y2019 FY2 Y2018

15

TOTALrevenue NETproperty income

9 MONTHS (1 JUL-31 MAR) FINANCIAL PERFORMANCES BY COUNTRY

RM (million) RM (million)

86.2 95.2 9. 9.3 95.4 82.9 14.7

100 100 200 200 300 300

Malaysi sia Australi lia Japan

91 91.2 280.9 12.3 100.6 253.4 18.2

100 100 200 200 300 300

Malaysi sia Australi lia Japan 10 10.4% .4% 48.3% .3% 9.8% 9.8% 10 10.6% .6% 58.6% .6% 12 12.9% .9%

3

Capital management

Tan anjong Jara Res esort, Ter erengganu, , Mala alaysia

10.0 987.1 65.0 265.0 199.1 385.0 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

Bor

• rrowin

ings in n RM Bor

• rrowin

ings in n AUD

17

DEBT^ MATURITYPROFILE

Not Notes es: ^ Excludi ding g the e eff ffec ects s of

• f capi

pital alise sed trans nsac action n cos

• sts.

s. * RM equi uival valen ent base sed d on

• n the

e exc xcha hange ge rate e of

• f A$

A$1. 1.00: 0: RM2. 2.891 918 as at 29 March h 2019 19.

* Bor

• rrowin

ings in n JPY PY

# RM equi uival valen ent base sed d on

• n the

e exc xcha hange ge rate e of

• f JPY10

Y100: 0: RM3. 3.685 855 as at 29 March h 2019 19.

#

Floating 30.5% Fixed 69.5%

18

CURRENCY INTEREST RATE

DEBT^ PROFILE AS AT 31 MARCH 2019

Not Notes: es: * For

• r the

e respe spective e Quart rter. r. ^ Exclud uding ng the e eff ffects of

• f capi

pital alised trans ansaction

• n cos
• sts.

# #

Com

• mput

puted d as NP NPI / Financ nance e Cos

• st

@ @ The

e interes erest rate e is hedge dged d and d fixed ed at the e eff ffec ective e rate e of

• f 4.68%

68% wi with h eff ffec ect from

• m 29 Decem

embe ber r 2017. 17.

α 51.7%

7% denom nomina nated ed in AUD UD and d 17.8% 8% deno nomi minat ated ed in RM. M.

β 10.4%

4% denom nominat ated ed in JPY Y and d 20.1% 1% denom nominat ated ed in RM. M. # @ α β

RM RM 37.9% AU AUD 51.7% JPY JPY 10.4%

31 March 2019 31 December 2018 Change Borrowings^ (RM'000) 1,911,133 1,907,555 + 0.2% Total Asset Value (RM'000) 4,663,208 4,684,556 (0.5%) Gearing (%) 41.0% 40.7% + 0.3 pp Average Interest Rates (%) *

• Borrowings in Ringgit Malaysia

5.0% 5.0% 0.0 pp

• Borrowings in Australian Dollar

4.5% 4.6% (0.1 pp)

• Borrowings in Japanese Yen

0.8% 0.8% 0.0 pp Interest Cover * 3.2 x 3.1 x 0.1 x

1,911 4,663 835 835

• 1,000

2,000 3,000 4,000 5,000 6,000 Total Borrowings^ Total Assets

Not Notes: es: ^ Excludi ding g the e eff ffec ects s of

• f capi

pital alise sed trans nsac action n cos

• sts.

* Le Leverag verage e limi mit reduc duced ed to

• 50% under

der new regul gulatory

• ry guidel

deline nes, s, previ evious us limi mit of

• f 60% no
• lon
• nger

ger appl plicabl able 19

DEBT HEADROOM OF ~RM835 million FOR ACQUISITIONS

RM (million)

2, 2,74 746 5, 5,49 498 Gear aring = = 41 41.0% (As at at 31 31 Mar arch 20 2019 19) Gear aring limit it = = 50%* 50%*

4

Asset management

Cam ameron Hig ighlands s Res esort, , Mal alaysi sia

Ja Japan

 Hilton Niseko Village  The Green Leaf Niseko Village

Aust stralia

 Brisbane Marriott  Sydney Harbour Marriott  Melbourne Marriott

Ma Malaysia (Northern)

 Vistana Penang Bukit Jambul  Pangkor Laut Resort  Cameron Highlands Resort

Ma Malaysia (Ea Eastern rn)

 Tanjong Jara Resort  Vistana Kuantan City Centre

Kual uala Lu Lumpur

 JW Marriott Hotel Kuala Lumpur  The Majestic Hotel Kuala Lumpur  The Ritz-Carlton, Kuala Lumpur – Suite Wing  The Ritz Carlton, Kuala Lumpur – Hotel Wing  Vistana Kuala Lumpur Titiwangsa Not Note: e: (1) 1) Base sed d on

• n inves

estment ent propert

• perties and

d propert

• perty, plan

ant & equi uipmen ment as at 31 Ma March h 2019 19. 21

LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES

ASSET breakdown (by Country)(1) ASSET breakdown (by Contract T ype)(1)

FY FY2011 2011 FY FY2012 2012 FY FY2013 2013 FY FY2014 2014 FY FY2015 2015 FY2 FY2016 FY2 FY2017 FY2 FY2018 3Q Q FY2 FY2019 Mala laysia Un Under Mas aster Leas Leases Jap Japan Un Under Mas aster Lea Leases Aus ustr tralia – – 83.1 83.1% (1) 84.2 84.2% 84.4 84.4% 86.4 86.4% 86.9 86.9% 87.8 87.8% 84.5 84.5%

22

PORTFOLIO OCCUPANCY

Not Note: e: (1 (1) For

• r 1 July

y 2012 12 to

• 30 June

ne 2013 13 wh which h includ udes es certai ain n pre-ac acqui quisi sition n peri riod d as the e propert

• perties we

were e acqui uired red on

• n 29 Novembe

November r 2012. 2.

9 9 28 28 6 6 9 9 4 4 10 10 20 20 30 30 2019 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2049

Not Note: e: * For

• r 3Q FY2019

Y2019. 23

MASTER LEASES EXPIRY PROFILE

Master leases

NETproperty income (% of total *) NETproperty income (% of total *)

206 206 216 216 253 253 252 252 214 214 208 208 251 251 247 247 100 200 300 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q

AUD

24

REVENUE per available room (Rev evP AR)

AUSTRALIA HOTEL PERFORMANCE (1 OF 2)

FY2 Y2019 FY2 Y2018 FY2 Y2017

2.1% 2.1%

242 242 246 246 285 285 283 283 249 249 249 249 298 298 292 292

100 200 300 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q

85.0 87.7 88 88.7 89 89.1 85.8 83.6 84.2 84.5

50 50 100 4Q 4Q 1Q 1Q 2Q 2Q 3Q 3Q

25

% AUD

Average occupancy

AUSTRALIA HOTEL PERFORMANCE (2 OF 2)

Average daily rate (ADR)

3.3% 3.3%

FY2 Y2019 FY2 Y2018

4.6p .6pp

FY2 Y2017

5

Appendices

Hilton Niseko Village Hokkaido, Japan

27 27

Add ddress

• No. 183, Jalan Bukit Bintang, 55100 Kuala

Lumpur Descrip ipti tion A 5-star hotel with 578 rooms located on part

• f an 8-level podium block and entire 24-

level tower block of Starhill Gallery together with car park bays located partially at basement 1 and 4 and the entire basement 2, 3 and 5 of JW Marriott Hotel Kuala Lumpur Tenu nure Freehold Mas aster leas ase exp xpir iry 31 December 2023 Mas aster leas ase remain ining (1)

1)

5 years Ann nnual rental l (2) RM25.69 million No.

• No. of room
• oms

578 Acquis isit itio ion dat date 16 December 2005 Valu aluatio ion (3)

3)

RM424 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mo monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

JW MARRIOTT HOTEL KUALA LUMPUR

28 28

Add ddress

• No. 5, Jalan Sultan Hishamuddin, 50000 Kuala

Lumpur Descrip ipti tion A 5-star hotel comprising Majestic Wing (original historic hotel building) with 47 luxurious suites, Tower Wing with 253 guestrooms and suites, Majestic Ballroom with seating capacity of 1,200 for banquet or 1,500 theatre-style, Contango restaurant with seating capacity of 250, Colonial Cafe with seating capacity of 120, Orchid Conservatory with seating capacity of 15 and 3 levels of basement car park Tenu nure 90-year registered lease expiring on 11 May 2091 Mas aster leas ase exp xpir iry 2 November 2032 Mas aster leas ase remain ining (1)

1)

14 years Ann nnual rental l (2) RM26.60 million No.

• No. of room
• oms

300 Acquis isit itio ion dat date 3 November 2017 Valu aluatio ion (3)

3)

RM385 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mo monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

THE MAJESTIC HOTEL KUALA LUMPUR

29

Add ddress

• No. 168, Jalan Imbi, 55100 Kuala Lumpur

Descrip ipti tion Parcel 1: 60 units of hotel suites, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car parks Parcel 2: 50 units of hotel suites, 4 units of penthouses and 1 level of basement car park Tenu nure Freehold Mas aster leas ase exp xpir iry 30 June 2031 Mas aster leas ase remain ining (1)

1)

12 years Ann nnual rental l (2)

2)

RM16.38 million No.

• No. of room
• oms

114 Acquis isit itio ion dat date 16 May 2007 & 15 November 2011 Valu aluatio ion (3)

3)

Parcel 1: RM207 million Parcel 2: RM99 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mo monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

THE RITZ-CARLTON, KUALA LUMPUR –SUITE WING

30

Add ddress

• No. 168, Jalan Imbi, 55100 Kuala Lumpur

Descrip ipti tion 22-storey 5-star hotel building comprising 251 rooms with 4-storey basement car parks Tenu nure Freehold Mas aster leas ase exp xpir iry 14 November 2026 Mas aster leas ase remain ining (1)

1)

8 years Ann nnual rental l (2)

2)

RM21.63 million No.

• No. of room
• oms

251 Acquis isit itio ion dat date 15 November 2011 Valu aluatio ion (3)

3)

RM343 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mo monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

THE RITZ-CARLTON, KUALA LUMPUR –HOTEL WING

31

Add ddress

• No. 9, Jalan Lumut, Off Jalan Ipoh, 50400

Kuala Lumpur Descrip ipti tion 17-storey hotel building with 364 rooms and 2-storey basement car parks Tenu nure Freehold Mas aster leas ase exp xpir iry 14 November 2026 Mas aster leas ase remain ining (1)

1)

8 years Ann nnual rental (2)

2)

RM8.61 million No.

• No. of room
• oms

364 Acquis isit itio ion dat date 15 November 2011 Valu aluatio ion (3)

3)

RM136 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mon monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

VISTANA KUALA LUMPUR TITIWANGSA

32

Add ddress

• No. 213, Jalan Bukit Gambier, Bukit Jambul,

11950 Pulau Pinang Descrip ipti tion 17-storey Hotel Wing with 238 hotel rooms and 26-storey Suite Wing with 189 hotel suites with an annexed 3-storey podium Tenu nure 99-year leasehold expiring on 27 October 2094 Mas aster leas ase exp xpir iry 14 November 2026 Mas aster leas ase remain ining (1)

1)

8 years Ann nnual rental l (2)

2)

RM8.61 million No.

• No. of roo
• oms

427 Acquis isit itio ion dat date 15 November 2011 Valu aluatio ion (3)

3)

RM118 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mon monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

VISTANA PENANG BUKIT JAMBUL

33

Add ddress Jalan Teluk Sisek, 25000 Kuantan, Pahang Descrip ipti tion 8-storey hotel building with 215 rooms Tenu nure 99-year leasehold expiring on 11July 2092 Mas aster leas ase exp xpir iry 14 November 2026 Mas aster leas ase remain ining (1)

1)

8 years Ann nnual rental (2)

2)

RM6.30 million No.

• No. of room
• oms

215 Acquis isit itio ion dat date 15 November 2011 Valu aluatio ion (3)

3)

RM88 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mon monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

VISTANA KUANTAN CITY CENTRE

34

Add ddress Pangkor Laut Island, 32200 Lumut, Perak Darul Ridzuan Descrip ipti tion 36 units of Garden Villas, 52 units of Hill Villas, 8 units of Beach Villas and 1 unit of Pavarotti Suite Tenu nure 99-year registered lease expiring on 21 May 2095 Mas aster leas ase exp xpir iry 14 November 2026 Mas aster leas ase remain ining (1)

1)

8 years Ann nnual rental (2)

2)

RM8.82 million No.

• No. of roo
• oms

97 Acquis isit itio ion dat date 15 November 2011 Valu aluatio ion (3)

3)

RM117 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mo monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

PANGKOR LAUT RESORT

35

Add ddress Batu 8, Off Jalan Dungun, 23000 Dungun, Terengganu Darul Iman Descrip ipti tion Small luxury boutique resort with 100 rooms Tenu nure 60-year leasehold expiring on 4 December 2067 Mas aster leas ase exp xpir iry 14 November 2026 Mas aster leas ase remain ining (1)

1)

8 years Ann nnual rental (2)

2)

RM7.35 million No.

• No. of room
• oms

100 Acquis isit itio ion dat date 15 November 2011 Valu aluatio ion (3)

3)

RM102 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mo monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

TANJONG JARA RESORT

36

Add ddress By the Golf Course, 39000 Tanah Rata, Cameron Highlands, Pahang Darul Makmur Descrip ipti tion 3-storey luxury resort with a 2-storey spa village block with 56 rooms and suites and a single storey building Tenu nure 99-year leasehold expiring on 9 December 2108 Mas aster leas ase exp xpir iry 14 November 2026 Mas aster leas ase remain ining (1)

1)

8 years Ann nnual rental l (2)

2)

RM4.20 million No.

• No. of roo
• oms

56 Acquis isit itio ion dat date 15 November 2011 Valu aluatio ion (3)

3)

RM60 million

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mon monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018.

CAMERON HIGHLANDS RESORT

37

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mo monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018. 4. 4. RM RM equiva valent base sed on the exc xchange ra rate te of JPY100:R :RM3.6855 as at 31 March 2019.

Add ddress Aza-Soga, Niseko-cho, Abuta-gun, Hokkaido Descrip ipti tion 16-storey hotel building with 1-storey of basement comprising 506 rooms Tenu nure Freehold Mas aster leas ase exp xpir iry 21 December 2026 Mas aster leas ase remain ining (1)

1)

8 years Ann nnual rental l (2)

2)

RM16.32 million No.

• No. of room
• oms

506 Acquis isit itio ion dat date 22 December 2011 Valu aluatio ion (3,

3, 4) 4)

JPY8,020 million (RM295.58 million)

HILTON NISEKO VILLAGE

38

Note tes: : 1. 1. Le Lease se re remaining ca calculated as at 31 March 2019. There is an opti tion for r the less ssee to re renew the lease se upon exp xpiry. 2. 2. Derived by annualising the applicable mo monthly re renta tal as at 31 March 2019. 3. 3. As s at 30 April 2018. 4. 4. RM RM equiva valent base sed on the exc xchange ra rate te of JPY100:R :RM3.6855 as at 29 March 2019.

Add ddress 1, 6 and 7, Aza-Higashiyama, Niseko-cho, Abuta-gun, Hokkaido Descrip ipti tion 5-storey hotel building with 1-storey of basement comprising 200 rooms Tenu nure Freehold Mas aster leas ase exp xpir iry 25 September 2048 Mas aster leas ase remain ining (1)

1)

30 years Ann nnual rental l (2,

2,4)

JPY315 million (RM11.61 million) No.

• No. of room
• oms

200 Acquis isit itio ion dat date 26 September 2018 Valu aluatio ion (3,

3, 4) 4)

JPY6,000 million (RM221.13 million)

THE GREEN LEAF NISEKO VILLAGE

39

Note tes: : 1. 1. As s at 30 April 2018. 2. 2. RM RM equiva valent base sed on the exc xchange ra rate te of A$1.00:R :RM2.8918 as at 29 March 2019.

Add ddress 30 Pitt Street, Sydney, New South Wales Descrip ipti tion 33-storey hotel building with central atrium comprising 595 rooms including 3 levels of basement with car parking bays Tenu nure Freehold No.

• No. of room
• oms

595 Acquis isit itio ion dat date 29 November 2012 Valu aluatio ion (1,

1, 2) 2)

AUD498 million (RM1,440.12 million)

SYDNEY HARBOUR MARRIOTT

40

Note tes: : 1. 1. As s at 30 April 2018. 2. 2. RM RM equiva valent base sed on the exc xchange ra rate te of A$1.00:R :RM2.8918 as at 29 March 2019.

Add ddress 515 Queen Street, Brisbane, Queensland Descrip ipti tion 28-storey hotel building comprising 267 rooms with 3 levels of basement with car parking bays Tenu nure Freehold No.

• No. of room
• oms

267 Acquis isit itio ion dat date 29 November 2012 Valu aluatio ion (1,

1, 2) 2)

AUD80 million (RM231.34 million)

BRISBANEMARRIOTT

41

Note tes: : 1. 1. As s at 30 April 2018. 2. 2. RM RM equiva valent base sed on the exc xchange ra rate te of A$1.00:R :RM2.8918 as at 29 March 2019.

Add ddress Corner Exhibition and Lonsdale Streets, Melbourne, Victoria Descrip ipti tion 16-storey hotel building comprising 186 rooms with 5 split levels of car park Tenu nure Freehold No.

• No. of room
• oms

186 Acquis isit itio ion dat date 29 November 2012 Valu aluatio ion (1,

1, 2) 2)

AUD78.4 million (RM226.72 million)

MELBOURNEMARRIOTT

This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 31 March 2019, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does not constitute an offer, invitation, solicitation or advertisement with respect to the purchase or sale

• r subscription of any units or securities of YTL Hospitality REIT and no part of it shall form the basis of, or be relied on in connection with, any contract,

commitment, credit evaluation or investment decision whatsoever or any recommendation to subscribe, sell or purchase any units or securities of YTL Hospitality

• REIT. Each interested party should make its own independent assessment and obtain its own independent legal or other advice thereon.

This presentation may not be used for any purpose, may not be distributed to or disclosed to or filed with any other person including any government or regulatory authority, and may not be reproduced in any form, in whole or in part. This presentation is not intended for distribution, publication or use in the United States or any other countries or jurisdiction prohibited or restricted by its applicable laws. Neither this document nor any part or copy of it may be taken or transmitted into the United States or distributed, directly or indirectly, in the United States. This presentation may contain forward looking statements which are subject to changes 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 including availability of financing in the amounts and on the terms necessary to support future business, availability of real estate properties, competition from

• ther companies/entities, changes in operating expenses including employee wages, benefits and training and property expenses and regulatory and public

policy changes. These forward looking statements are based on estimates and assumptions of the management’s current view of future events and these forward looking statements speak only as at the date of which they are made. None of YTL Hospitality REIT, its trustee, its manager, any of its or their respective agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any forward looking statement contained herein to reflect any changes in circumstances, conditions, events or expectations upon which any such forward looking statement is based. Past performance is not necessarily indicative of its future performance. Nothing in this presentation is, or should be relied on, as a promise or representation as to the future. Neither YTL Hospitality REIT, its trustee, its manager, any of its or their respective agents, employees or advisors accept any liability or responsibility for the accuracy or reliability or completeness of, nor makes nor will make any representation or warranty, express or implied, with respect to, the information contained in this presentation or on which this presentation is based.

An Any di discrepancy be between the the ind ndiv ivid idual amo amounts and and the the tot

• tal the

thereof in in thi this do document is is due due to to rou

• undin

ing.

42

DISCLAIMER

PINTAR PROJEK SDN BHD

314009-W

Man Manager of

• f YT

YTL L Ho Hospi pitali lity REIT REIT

11th Floor Yeoh Tiong Lay Plaza 55 Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: 603 2117 0088 603 2142 6633 Fax: 603 2141 2703 Email: ir@ytlhospitalityreit.com www.ytlhospitalityreit.com