Manulife US REIT - Annual Report 2021

MANULIFE US REIT FY2021 Financial and Portfolio Highlights Net Property Income (NPI) (US$ million) Gearing Ratio (%) Distributable Income (US$ million) Occupancy Rate (%) Distribution per Unit (DPU) (US cents) Portfolio FY2021 FY2020 FY2019 FY2018 FY2017 AUM (US$ billion) 2.2 2.0 2.1 1.7 1.3 WALE by Net Lettable Area (NLA) (years) 5.1 5.3 5.9 5.8 5.7 Occupancy rate (%) 92.3 93.4 95.8 96.7 95.9 FY2021 Distributions Manulife US REIT’s distribution policy is to distribute at least 90.0% of its annual distributable income on a semi- annual basis. Since IPO, MUST has distributed 100.0% of its distributable income. Key Financial Indicators FY2021 FY2020 FY2019 FY2018 FY2017 Gross borrowings (US$ million) 975.0 856.5 816.9 670.8 461.9 Gearing ratio (%) 42.8 41.0 37.7 37.2 33.7 Weighted average cost of debt (%) 2.82 3.18 3.37 3.27 2.83 Weighted average debt maturity (years) 2.4 2.3 2.8 2.7 3.4 Interest coverage ratio (times) 3.4 3.5 3.8 4.2 5.5 Market capitalisation (US$ billion) 1.2 1.2 1.6 1.0 0.9 Financial Period DPU (US cents) Payment Date 1 January 2021 to 30 June 2021 2.70 27 September 2021 1 July 2021 to 8 December 2021 1 2.31 17 February 2022 9 December 2021 to 31 December 2021 0.32 30 March 2022 08 109.5 115.8 110.8 90.7 58.4 2019 2018 2017 2020 2021 42.8 41.0 37.7 37.2 33.7 2019 2018 2017 2020 2021 85.6 89.0 83.3 71.0 46.7 2019 2018 2017 2020 2021 92.3 93.4 95.8 96.7 95.9 2019 2018 2017 2020 2021 5.33 5.64 5.96 5.57 5.77 2019 2018 2017 2020 2021 5.1 5.3 5.9 5.8 5.7 2019 2018 2017 2020 2021 Weighted Average Lease Expiry (WALE) by NLA (years) 1 Advanced distribution in relation to the private placement announced on 30 November 2021.