1Q 2026 Business Updates Briefing

Good morning everyone. Welcome to CRCT's 1Q 26 NLS briefing. I'm still eating in best relations for CRCT. With me today we have our CEO Jerry CFO Joanne, CFO Desert Link Tom and here on IP on your home. For this meeting we will start with a brief presentation followed by a Q&A session. So if you have a question please use the raise hand feature and are there at the time for you. So if that Jerry please go here. Thanks Jerry. Welcome everyone to CRCT's 1Q 2 0 26 Business Update. Thank you again to make some time this morning to attend this presentation. This is a business update. So I think it will be relatively short. There will be more Q&A time later. So CRCT we are the first and

largest China focus aspect. So now of course we also have connectivity to the C-read market to us joining the listing of the C-read when the Xiaomi Star Action Transporter. Our current dot assets is 4.5 billion single dollars. We have 8 retail more, 5 business, 4 logistics assets and most of our assets are in tier 1 and tier 2 series. Distribution you using FY2 0 25 CPU with the unit price now is roughly about 7 over the same. That reflects some of the unit price movement from the broad marketliness after the start of the run work. In terms of our asset allocation you can see that directly unchanged our retail is still

our largest and most resilient asset class. Same 10% of course rental income that's the biggest and then the remainder is what we term as more new economies or business parks 27 and largest six bucks smaller than 7%. In terms of the different segments generally speaking the retail has been showing relatively more resilient with our AI effects starting to flow in Q1 of this year. Our logistics stabilize of course some many sets that we have done in 2, 0, 2, 5 and business parks you will see that continue to have weekly money. So overall portfolio

gross revenue and NPI drop about 5 and 3% respectively and that's mainly due to the diversity you're putting like effect. So encouragingly on sims now basis you'll see that our portfolio gross revenue and marginally negative that minus 0.4% yield and NPI actually increase 1.3% yield. If we dissect further for retail again on the headline revenue declined by 7.2% but again mainly due to loss of the voting revenue which alone was about 21 million in NPI. So without that

if you exclude the same store basis it narrows to the drop net narrows to minus 0.5% yield in the other effect is for retail instead the completed EIs started to provide us with new revenue flow that's about 5 million remaining per quarter and it was somewhat offsetted by some of the business continuous we see at C9, Rank NMR and I don't even believe. For BP and logistics the combined together the revenue is right if we flat yield in year. What we have done of course we continue to focus on operating efficiency operating costs on a new basis we reduce by 3.7% on sims

store basis. Next if you look at some of the retail operational statistics for first- Q continue growth in traffic and tenant sales you can see traffic grew by 3.3% then it's used to grow by 5.5% and move over this 10.6% generally faster than we have seen on in terms of growth and average of a whole year 2.25 over that we are 2.25 which grew about 2.2% for a whole year 2.25 but really we are continuing the strong momentum that we saw 4.25 over all of course healthy 17% again there's a slight drop in pop course and that's due

to the good healthy sales growth that we have seen. Trick categories they have done well if I'm being 4.2% that's not a surprise here has been you know a bit category for us. Again last quarter I shed the same trends are driving this FMB segment we introduced new high performing training brands which are poor factors was shoppers growth also was brought base you have all local preverts Japanese sushi chains and breakthroughs all doing well. IT up 5%. That's again boosted by consumption voucher as far as we do not show we expanded more digital brands you know AEA and Chef who are once in you know brands are quite way continue to do very well

in our malls. Joo-y watches plus hit percent again driven by the trend in best and gold. Poison obvious again a standout plus 59.6% this is quarter continue popularity of the collectable choice market. So again pop map was 100 over percent up you know near India. We need to again get very well the minisole and then the trip will go east from they are up about 58% in terms of sales growth. The other categories that are not in the slide that I can share a little bit. Last year we did a lot of supermarket AEA's so the supermarket upgrading in one thing share for settlement did well. So those powered our supermarket category

actually it's there in the right hand side. We had strong sales from there 80 80 million remaining P right so the broke days of course that double digits since last year supermarket some of them have closed down and once they were opened this market growth good traffic growth at the three more that you know they will open up. And I category that did well sporting category we also opened at the catalog in Rock Square (Guangzhou) and very good anti-quenchy install in a share full. So this sporting category this quarter also hit very well plus for the 6%. One real surprise for me is that the fashion category a treatment positive this quarter was positive 1.4% it's more

positive and growth was driven by the stronger most. Some of the names that have been growing well was it then which is basically winter where thermal wear and perhaps it's driven by winter season we had a strong overall growth of 40 over the sales growth. Why no one quarter isn't a trend yet but so the lead is encouraging because we have many quarters where we have not seen fashion had a positive year's growth. In terms of occupancy our most continue to have high occupancy so this quarter we had 97% we almost all more above occupancy of 95% except for a civil scene which is of course we