Manulife US REIT - Annual Report 2021

MANULIFE US REIT 38 Diablo 2900 South Diablo Way, Tempe, AZ TOP THREE TENANTS BY GRI (%) 31.6 Conduent Commercial Solutions 28.1 Smart Embedded Computing 23.2 Computershare Loan Services Diablo is a five-building collaborative office campus in Tempe, Phoenix that caters to the expanding creative, technology, education and healthcare tenants in the broader Phoenix market. The property features large, flexible floorplates, an on-site café and fitness centre, indoor and outdoor amenity areas, ample parking, and excellent visibility and frontage along the I-10 freeway. Land Tenure Freehold Building Completion 1980 – 1998 Acquisition Date 20 December 2021 Purchase Price 2 US$61.8 million (US$174 psf) WALE by NLA 4.6 years No. of Tenants 7 Seller Tempe Diablo LLC Class B Portfolio Overview NLA 354,434 SQ FT Occupancy 85.7 % Valuation US$ 65.0 M Lease Expiry Profile by NLA (%) 33.2 2027 & Beyond 0.0 2022 1.9 2025 12.3 2023 52.6 2024 1 The acquisition was completed on 20 December 2021. 2 Acquired from Tempe Diablo LLC, Diablo’s valuation was US$65.0 million as announced on 30 November 2021. JLL had valued the property based on the income capitalisation approach and the sales comparison approach. The income capitalisation approach consisted of a discounted cash flow analysis and direct capitalisation method. 0.0 2026 Gross Revenue (US$ million) Net Property Income (US$ million) 2021 1 2021 1 0.3 0.2