Manulife US REIT - Annual Report 2020

Capitol is a freehold 29-storey Class A office building located at 400 Capitol Mall, Sacramento, California, and is a 15-minute drive to Sacramento International Airport. The property is the tallest building in Sacramento, towering 423 feet high and is uniquely positioned in the CBD. It is within walking distance to Golden 1 Center, the Downtown Commons, and benefits from the exposure to the live, work, play environment of Sacramento’s downtown core and its growing influx of high-end residential, hotel and retail developments. Land Tenure Freehold Building Completion 1992 Acquisition Date 29 October 2019 Purchase Price US$198.8 million (US$397 psf) WALE by NLA 5.0 years No. of Tenants 39 TOP THREE TENANTS BY GRI (%) LEASE EXPIRY PROFILE BY NLA (%) 2021 2022 2023 2024 2025 2026+ 11.2 20.7 6.4 11.9 5.6 GROSS REVENUE (US$ MILLION) NET PROPERTY INCOME (US$ MILLION) 2019 1 2020 2019 1 2020 4.0 2.6 22.5 14.3 NLA 500,662 SQ FT Occupancy 93.3 % Valuation US$ 196.0 M 10.5 Wells Fargo 9.7 WeWork 9.6 Weintraub Tobin Chediak Coleman & Gordin Class A 1 The acquisition was completed on 29 October 2019. 44.2 30 MANULIFE US REIT PROPERTY UNIVERSE CAPITOL 400 Capitol Mall, Sacramento, CA