FY2024 FINANCIAL & PORTFOLIO HIGHLIGHTS Note: More details are disclosed in the Financial Review on pages 22 to 24 and Operational Review on pages 25 to 27 of this Annual Report. 1 US$3.8 million was retained for general corporate and working capital purposes in 2H2022 and the distribution amount to Unitholders for FY2022 was approximately US$84.1 million. 2 Pursuant to the recapitalisation plan set out in the circular to Unitholders dated 29 November 2023 (the Recapitalisation Plan) and the entry into the master restructuring agreement (the Master Restructuring Agreement), Manulife US REIT halted distributions to Unitholders till 31 December 2025, unless the early reinstatement conditions (the Early Reinstatement Conditions) as set out in the circular to Unitholders dated 29 November 2023 are achieved earlier. 3 Excluding the Sponsor-Lender loan exit premium. Including the Sponsor-Lender loan exit premium, the weighted average cost of debt would be 5.03% for FY2024 (FY2023: 4.55%). Key Financial Indicators FY2024 FY2023 FY2022 FY2021 FY2020 Gross borrowings (US$ million) 745.0 925.7 1,032.7 975.0 856.5 Aggregate leverage (%) 60.8 58.3 48.8 42.8 41.0 Weighted average cost of debt (%) 4.533 4.153 3.74 2.82 3.18 Weighted average debt maturity (years) 2.9 3.3 2.8 2.4 2.3 Interest coverage ratio (times) 1.7 2.4 3.1 3.4 3.5 Market capitalisation (US$ billion) 0.2 0.1 0.5 1.2 1.2 Portfolio FY2024 FY2023 FY2022 FY2021 FY2020 Assets under Management (AUM) (US$ billion) 1.1 1.4 1.9 2.2 2.0 Occupancy rate (%) 73.6 84.4 88.0 92.3 93.4 FY2024 DISTRIBUTIONS Manulife US REIT’s distribution policy is to distribute at least 90.0% of its annual distributable income on a semi-annual basis. Pursuant to the Recapitalisation Plan and the Master Restructuring Agreement,Manulife US REIT has halted distributions to Unitholders till 31 December 2025,unless the Early Reinstatement Conditions are achieved earlier. NET PROPERTY INCOME (NPI) (US$ million) AGGREGATE LEVERAGE (%) INCOME AVAILABLE FOR DISTRIBUTION (US$ million) DISTRIBUTION PER UNIT (DPU) (US cents) OCCUPANCY RATE (%) WEIGHTED AVERAGE LEASE EXPIRY (WALE) BY NLA (years) 79.9 60.8 38.3 – 73.6 5.0 60.8 38.3 73.6 - 5.0 FY23 FY23 FY23 FY23 FY23 FY232 114.6 58.3 74.3 84.4 - 5.0 FY22 FY22 FY22 FY22 FY22 FY22 113.2 48.8 87.91 88.0 4.75 4.7 FY21 FY21 FY21 FY21 FY21 FY21 109.5 42.8 85.6 92.3 5.33 5.1 FY20 FY20 FY20 FY20 FY20 FY20 115.8 41.0 89.0 93.4 5.64 5.3 FY24 FY24 FY24 FY24 FY24 FY242 79.9 08 | MANULIFE US REIT
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