4Q & Full Year FY25/26 Financial Results Briefing

Good morning everyone. Thank you for joining us for MIT full year FY25-26 financial results briefing. I'll bring you through the financial performance and update on thereafter Lily will go through portfolio update and give you some colour on MIT's outlook.

So for full year, during the year we digested three properties in Singapore. The lower NPI is largely due to absence of income from these three properties. There is also lower contribution for non-renewal of leases in the North American portfolio and weaker US dollar against same dollar. These were actually offset by higher contribution from Japan portfolio, mainly full year contribution from Tokyo property which we acquired in November 2024 and completion of five works at Osaka data center which was completed in May 2025. As well as renewals and new leases from Singapore portfolio. Boring costs mainly due to repayment of borrowings with the divestment proceeds, lower interest on unhatched floating rate loans and effects of weaker US dollar against same dollar. These were partially offset by higher borrowing costs in relation to the Japan portfolio. Hence, decline by joint venture decreased due to higher borrowing costs from the re-pricing of matured interest rate swaps which were previously

looking when interest rates were lower. On a full year basis, MIT DPU for FY2526 is at $0.71 which is 6.3% lower than prior financial year. However, if we exclude the divestment gain that we have distributed in FY2425, our DPU would have been lower by 3.2% in-state. So on for quarter and quarter, our net property income decreased due to non-renewal of leases at North American portfolio, higher property maintenance and property taxes, partially offset by full-quarter in-power renewals and new leases from Singapore portfolio. Boring costs decreased due to temporary repayment of borrowings with the proceeds from the new perpetual securities that we issued in March, ahead of redemption of the existing perpetual securities. Next is distribution declared by joint venture decreased due to higher borrowing costs from the re-pricing of matured interest rate swaps.

Accordingly, DPU quarter of quarter decreased slightly 2.5% to 3.09 cents.

Our NEV per unit is lower by about 4.7% to $1.63 as compared to earlier, actually due to revaluation loss, weaker US dollar and lower market-to-market underbodies. As at 31st March 2026, total valuation of the 136 properties in MIT's portfolio stands at 8.2 billion, a decrease of about 330 million as compared to 9 billion as at 31st March 2025. Including the 535 million properties divested and lower translated asset value of 234 million from the weaker US dollar and Japanese yen, our portfolio valuation decreased by 58.5 million year on year. Within our North American portfolio, we do have some properties that awaken our with impending non-re new rules. For some of these properties, the value has adopted the sales comparison approach, hence the lower valuation. These were partly mitigated by the completion of the final

phase of the fitting outworks at the Osaka data center and the improved operational performance of the Singapore portfolio. During the quarter, we successfully issued 300 million of perpetual at 3.25%, a hit of the redemption of the existing PUB in May 2026. In the interim, we have pat down debt with the PUB proceeds and accordingly leverage is lower at 34%. While this is expected to increase to around 37.5% when we draw the 300 million debt to redeem the existing PUB in May, we still have ample debt hit room for growth. With the 300 million debt, the hash ratio is also expected to reduce to around 80% level. Average borrowing costs increased slightly to 3.2% as compared to prior quarter, mainly due to higher interest on expiring interest rate swaps. For previously locking, my interest rates were much lower. There's about 600 million of IRS coming due in the financial year 2627. These were previously

locked in when interest rates were lower. Assuming if we replace this maturing IRS with a new five year rate today, maybe say about 3.6, 3.7%. The borrowing costs are expected to increase to about 3.4 to 3.5% in FY2627. As we pursue further divestments and we use the divestment proceeds to pat down loans in the interim, we will be able to reduce the impact of these expiring hedges on borrowing costs. Of course, we will continue to monitor the market and be nimble when entering into replacement hedges, say, you know, 20, 30 million each crunch when opportunity arises, i.e., when any dip in interest rates. On our debt maturity profile, they remain well staggered with average debt duration of about 3.4 years. We have sufficient committed credit facilities to refile loans in FY2627. On effects front, as much as feasible, low local currency loans to provide for natural hedge, this helps to mitigate impact on