Manulife US REIT - Annual Report 2020

STATEMENTS OF CHANGES IN UNITHOLDERS’ FUNDS For the year ended 31 December 2020 Note Units in issue and to be issued (Accumulated losses)/ Retained earnings Total US$’000 US$’000 US$’000 Trust At 1 January 2020 1,148,319 (14,385) 1,133,934 Operations Net income for the year − 34,547 34,547 Net increase in net assets resulting from operations − 34,547 34,547 Unitholders’ transactions Issue of new Units: – Manager’s base fee paid/payable in Units 8,897 − 8,897 – Property Manager’s management fee paid/payable in Units 4,834 − 4,834 Distributions 14 (23,738) (46,999) (70,737) Net decrease in net assets resulting from Unitholders’ transactions (10,007) (46,999) (57,006) At 31 December 2020 1,138,312 (26,837) 1,111,475 At 1 January 2019 942,270 7,313 949,583 Operations Net income for the year − 37,801 37,801 Net increase in net assets resulting from operations − 37,801 37,801 Unitholders’ transactions Issue of new Units: – Private placements 14 174,000 − 174,000 – Preferential offering 14 62,656 − 62,656 – Manager’s base fee paid/payable in Units 8,334 − 8,334 – Manager’s performance fee paid in Units 1,360 − 1,360 – Property Manager’s management fee paid/payable in Units 4,276 − 4,276 Issuance costs 14 (4,707) − (4,707) Distributions 14 (39,870) (59,499) (99,369) Net increase/(decrease) in net assets resulting from Unitholders’ transactions 206,049 (59,499) 146,550 At 31 December 2019 1,148,319 (14,385) 1,133,934 The accompanying notes form an integral part of the financial statements. 124 MANULIFE US REIT