OUE Healthcare 5WA

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Financials

ANNUAL REPORT 2025

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55 tables

Group consolidated profit or loss and comprehensive income

28 metrics

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Group consolidated profit or loss and comprehensive income from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Group comprehensive income
RevenueSingapore dollars thousands 152,388150,277 PDF p. 123
Cost of salesSingapore dollars thousands (38,002)(36,108) PDF p. 123
Gross profitSingapore dollars thousands 114,386114,169 PDF p. 123
Administrative expensesSingapore dollars thousands (35,039)(29,469) PDF p. 123
Other expenses, netSingapore dollars thousands (16,702)(10,565) PDF p. 123
Results from operating activitiesSingapore dollars thousands 62,64574,135 PDF p. 123
Finance incomeSingapore dollars thousands 538684 PDF p. 123
Finance costsSingapore dollars thousands (33,581)(35,508) PDF p. 123
Net finance costsSingapore dollars thousands (33,043)(34,824) PDF p. 123
Share of results of equity-accounted investees (net of tax)Singapore dollars thousands (6,152)1,283 PDF p. 123
Profit before taxSingapore dollars thousands 23,45040,594 PDF p. 123
Tax expenseSingapore dollars thousands (14,876)(14,944) PDF p. 123
Profit after tax for the yearSingapore dollars thousands 8,57425,650 PDF p. 123
Items that are or may be reclassified subsequently to profit or loss
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands (60,754)(15,720) PDF p. 123
Currency translation differences reclassified to profit or lossSingapore dollars thousands 5,1932,446 PDF p. 123
Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands (1,995)944 PDF p. 123
Items that will not be reclassified to profit or loss
Share of fair value reserve of equity-accounted investeesSingapore dollars thousands 1,818(815) PDF p. 123
Net change in fair value - equity investment at FVOCISingapore dollars thousands (116)50 PDF p. 123
Other comprehensive income, net of taxSingapore dollars thousands (55,854)(13,095) PDF p. 123
Total comprehensive income for the yearSingapore dollars thousands (47,280)12,555 PDF p. 123
Profit after tax attributable to
Owners of the CompanySingapore dollars thousands (16,873)(6,003) PDF p. 123
Non-controlling interestsSingapore dollars thousands 25,44731,653 PDF p. 123
SubtotalSingapore dollars thousands 8,57425,650 PDF p. 123
Total comprehensive income attributable to
Owners of the CompanySingapore dollars thousands (34,483)(7,371) PDF p. 123
Non-controlling interestsSingapore dollars thousands (12,797)19,926 PDF p. 123
SubtotalSingapore dollars thousands (47,280)12,555 PDF p. 123
Earnings per share
Basic earnings per share (cents)Singapore cents per share (0.38)(0.14) PDF p. 123
Diluted earnings per share (cents)Singapore cents per share (0.24)(0.08) PDF p. 123
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group financial position / assets and equity

25 metrics

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Group financial position / assets and equity from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
ASSETS
Property, plant and equipmentSingapore dollars thousands 8,8088,191 PDF p. 121
Intangible assets and goodwillSingapore dollars thousands 30,65930,793 PDF p. 121
Investment propertiesSingapore dollars thousands 1,022,6191,118,008 PDF p. 121
Investment properties under developmentSingapore dollars thousands 5,49310,927 PDF p. 121
SubsidiariesSingapore dollars thousands –– PDF p. 121
Associate and joint venturesSingapore dollars thousands 131,945133,156 PDF p. 121
Other investmentSingapore dollars thousands 2,5812,697 PDF p. 121
Trade and other receivablesSingapore dollars thousands 2,9793,109 PDF p. 121
Non-current assetsSingapore dollars thousands 1,205,0841,306,881 PDF p. 121
InventoriesSingapore dollars thousands 1,072880 PDF p. 121
Trade and other receivablesSingapore dollars thousands 28,48820,585 PDF p. 121
Derivative financial instrumentsSingapore dollars thousands –260 PDF p. 121
Cash and cash equivalentsSingapore dollars thousands 83,94369,911 PDF p. 121
Current assetsSingapore dollars thousands 113,50391,636 PDF p. 121
Total assetsSingapore dollars thousands 1,318,5871,398,517 PDF p. 121
EQUITY
Share capitalSingapore dollars thousands 418,913418,913 PDF p. 121
Convertible perpetual securitiesSingapore dollars thousands 79,63579,635 PDF p. 121
Capital reserveSingapore dollars thousands 4,2854,285 PDF p. 121
Asset revaluation reserveSingapore dollars thousands 3,6303,630 PDF p. 121
Foreign currency translation reserveSingapore dollars thousands (70,267)(50,955) PDF p. 121
Fair value reserveSingapore dollars thousands (24,766)(26,468) PDF p. 121
Accumulated lossesSingapore dollars thousands (164,281)(145,656) PDF p. 121
Equity attributable to owners of the CompanySingapore dollars thousands 247,149283,384 PDF p. 121
Non-controlling interestsSingapore dollars thousands 406,784451,098 PDF p. 121
Total equitySingapore dollars thousands 653,933734,482 PDF p. 121
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Company financial position / assets and equity

25 metrics

Units appear below each metric. Scroll to compare years

Company financial position / assets and equity from ANNUAL REPORT 2025
Metric / unit 2025Company / year1January–31December20252024Company / year1January–31December2024 Source
ASSETS
Property, plant and equipmentSingapore dollars thousands 14385 PDF p. 121
Intangible assets and goodwillSingapore dollars thousands –– PDF p. 121
Investment propertiesSingapore dollars thousands –– PDF p. 121
Investment properties under developmentSingapore dollars thousands –– PDF p. 121
SubsidiariesSingapore dollars thousands ** PDF p. 121
Associate and joint venturesSingapore dollars thousands 23,60723,607 PDF p. 121
Other investmentSingapore dollars thousands –– PDF p. 121
Trade and other receivablesSingapore dollars thousands 291,355261,109 PDF p. 121
Non-current assetsSingapore dollars thousands 314,976285,101 PDF p. 121
InventoriesSingapore dollars thousands –– PDF p. 121
Trade and other receivablesSingapore dollars thousands 15,22318,477 PDF p. 121
Derivative financial instrumentsSingapore dollars thousands –– PDF p. 121
Cash and cash equivalentsSingapore dollars thousands 7,11017,654 PDF p. 121
Current assetsSingapore dollars thousands 22,33336,131 PDF p. 121
Total assetsSingapore dollars thousands 337,309321,232 PDF p. 121
EQUITY
Share capitalSingapore dollars thousands 418,913418,913 PDF p. 121
Convertible perpetual securitiesSingapore dollars thousands 79,63579,635 PDF p. 121
Capital reserveSingapore dollars thousands –– PDF p. 121
Asset revaluation reserveSingapore dollars thousands –– PDF p. 121
Foreign currency translation reserveSingapore dollars thousands –– PDF p. 121
Fair value reserveSingapore dollars thousands –– PDF p. 121
Accumulated lossesSingapore dollars thousands (267,002)(226,627) PDF p. 121
Equity attributable to owners of the CompanySingapore dollars thousands 231,546271,921 PDF p. 121
Non-controlling interestsSingapore dollars thousands –– PDF p. 121
Total equitySingapore dollars thousands 231,546271,921 PDF p. 121
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group financial position / liabilities

14 metrics

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Group financial position / liabilities from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
LIABILITIES
Loans and borrowingsSingapore dollars thousands 276,444467,553 PDF p. 122
Trade and other payablesSingapore dollars thousands 19,30119,797 PDF p. 122
Lease liabilitiesSingapore dollars thousands 1,8961,699 PDF p. 122
Deferred tax liabilitiesSingapore dollars thousands 47,04149,883 PDF p. 122
Non-current liabilitiesSingapore dollars thousands 344,682538,932 PDF p. 122
Loans and borrowingsSingapore dollars thousands 260,68167,735 PDF p. 122
Trade and other payablesSingapore dollars thousands 34,52032,308 PDF p. 122
ProvisionsSingapore dollars thousands 19,97420,141 PDF p. 122
Lease liabilitiesSingapore dollars thousands 2,1151,437 PDF p. 122
Current tax liabilitiesSingapore dollars thousands 2,6823,290 PDF p. 122
Derivative financial instrumentsSingapore dollars thousands –192 PDF p. 122
Current liabilitiesSingapore dollars thousands 319,972125,103 PDF p. 122
Total liabilitiesSingapore dollars thousands 664,654664,035 PDF p. 122
Total equity and liabilitiesSingapore dollars thousands 1,318,5871,398,517 PDF p. 122
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Company financial position / liabilities

14 metrics

Units appear below each metric. Scroll to compare years

Company financial position / liabilities from ANNUAL REPORT 2025
Metric / unit 2025Company / year1January–31December20252024Company / year1January–31December2024 Source
LIABILITIES
Loans and borrowingsSingapore dollars thousands 82,27714,951 PDF p. 122
Trade and other payablesSingapore dollars thousands –– PDF p. 122
Lease liabilitiesSingapore dollars thousands –– PDF p. 122
Deferred tax liabilitiesSingapore dollars thousands –– PDF p. 122
Non-current liabilitiesSingapore dollars thousands 82,27714,951 PDF p. 122
Loans and borrowingsSingapore dollars thousands –10,000 PDF p. 122
Trade and other payablesSingapore dollars thousands 3,5123,927 PDF p. 122
ProvisionsSingapore dollars thousands 19,97420,141 PDF p. 122
Lease liabilitiesSingapore dollars thousands –292 PDF p. 122
Current tax liabilitiesSingapore dollars thousands –– PDF p. 122
Derivative financial instrumentsSingapore dollars thousands –– PDF p. 122
Current liabilitiesSingapore dollars thousands 23,48634,360 PDF p. 122
Total liabilitiesSingapore dollars thousands 105,76349,311 PDF p. 122
Total equity and liabilitiesSingapore dollars thousands 337,309321,232 PDF p. 122
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group changes in equity / 2025

16 metrics

Units appear below each metric. Scroll to compare years

Group changes in equity / 2025 from ANNUAL REPORT 2025
Metric / unit 2025Group / Share capital2025Group / Convertible perpetual securities2025Group / Capital reserve2025Group / Asset revaluation reserve2025Group / Foreign currency translation reserve2025Group / Fair value reserve2025Group / Accumulated losses2025Group / Total attributable to owners of the Company2025Group / Non-controlling interests2025Group / Total equity Source
Group changes in equity
At 1 January 2025Singapore dollars thousands 418,91379,6354,2853,630(50,955)(26,468)(145,656)283,384451,098734,482 PDF p. 124
(Loss)/profit for the yearSingapore dollars thousands ––––––(16,873)(16,873)25,4478,574 PDF p. 124
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands ––––(22,510)––(22,510)(38,244)(60,754) PDF p. 124
Currency translation differences reclassified to profit or lossSingapore dollars thousands ––––5,193––5,193–5,193 PDF p. 124
Share of foreign currency translation differences of equity - accounted investeesSingapore dollars thousands ––––(1,995)––(1,995)–(1,995) PDF p. 124
Share of fair value reserve of equity - accounted investeesSingapore dollars thousands –––––1,818–1,818–1,818 PDF p. 124
Net change in fair value – equity investment at FVOCISingapore dollars thousands –––––(116)–(116)–(116) PDF p. 124
Total other comprehensive income, net of taxSingapore dollars thousands ––––(19,312)1,702–(17,610)(38,244)(55,854) PDF p. 124
Total comprehensive income for the yearSingapore dollars thousands ––––(19,312)1,702(16,873)(34,483)(12,797)(47,280) PDF p. 124
Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands ––––––––(1,656)(1,656) PDF p. 124
Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands ––––––––(31,613)(31,613) PDF p. 124
Total distributions to ownersSingapore dollars thousands ––––––––(33,269)(33,269) PDF p. 124
Changes in ownership interests in subsidiaries without a change in controlSingapore dollars thousands ––––––(1,752)(1,752)1,752– PDF p. 124
Total changes in ownership interests in subsidiariesSingapore dollars thousands ––––––(1,752)(1,752)1,752– PDF p. 124
Total transactions with ownersSingapore dollars thousands ––––––(1,752)(1,752)(31,517)(33,269) PDF p. 124
At 31 December 2025Singapore dollars thousands 418,91379,6354,2853,630(70,267)(24,766)(164,281)247,149406,784653,933 PDF p. 124
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group changes in equity / 2024

17 metrics

Units appear below each metric. Scroll to compare years

Group changes in equity / 2024 from ANNUAL REPORT 2025
Metric / unit 2024Group / Share capital2024Group / Convertible perpetual securities2024Group / Capital reserve2024Group / Asset revaluation reserve2024Group / Foreign currency translation reserve2024Group / Fair value reserve2024Group / Accumulated losses2024Group / Total attributable to owners of the Company2024Group / Non-controlling interests2024Group / Total equity Source
Group changes in equity
At 1 January 2024Singapore dollars thousands 418,91379,6354,2853,630(50,445)(25,703)(136,119)294,196461,816756,012 PDF p. 125
(Loss)/profit for the yearSingapore dollars thousands ––––––(6,003)(6,003)31,65325,650 PDF p. 125
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands ––––(3,993)––(3,993)(11,727)(15,720) PDF p. 125
Currency translation differences reclassified to profit or lossSingapore dollars thousands ––––2,446––2,446–2,446 PDF p. 125
Share of foreign currency translation differences of equity – accounted investeesSingapore dollars thousands ––––944––944–944 PDF p. 125
Share of fair value reserve of equity- accounted investeesSingapore dollars thousands –––––(815)–(815)–(815) PDF p. 125
Net change in fair value – equity investment at FVOCISingapore dollars thousands –––––50–50–50 PDF p. 125
Total other comprehensive income, net of taxSingapore dollars thousands ––––(603)(765)–(1,368)(11,727)(13,095) PDF p. 125
Total comprehensive income for the yearSingapore dollars thousands ––––(603)(765)(6,003)(7,371)19,92612,555 PDF p. 125
Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands ––––––––(1,661)(1,661) PDF p. 125
Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands ––––––––(32,345)(32,345) PDF p. 125
Total distributions to ownersSingapore dollars thousands ––––––––(34,006)(34,006) PDF p. 125
Changes in ownership interests in subsidiaries without a change in controlSingapore dollars thousands ––––93–(3,534)(3,441)3,162(279) PDF p. 125
Acquisition of a subsidiary with non- controlling interestsSingapore dollars thousands ––––––––200200 PDF p. 125
Total changes in ownership interests in subsidiariesSingapore dollars thousands ––––93–(3,534)(3,441)3,362(79) PDF p. 125
Total transactions with ownersSingapore dollars thousands ––––93–(3,534)(3,441)(30,644)(34,085) PDF p. 125
At 31 December 2024Singapore dollars thousands 418,91379,6354,2853,630(50,955)(26,468)(145,656)283,384451,098734,482 PDF p. 125
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows

27 metrics

Units appear below each metric. Scroll to compare years

Group cash flows from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Cash flows from operating activities
Profit after taxSingapore dollars thousands 8,57425,650 PDF p. 126
Adjustments for:
Depreciation of property, plant and equipmentSingapore dollars thousands 2,9482,268 PDF p. 126
Net fair value losses on investment propertiesSingapore dollars thousands 3,5289,578 PDF p. 126
Fair value losses on investment properties under developmentSingapore dollars thousands 5,266928 PDF p. 126
Net fair value gains of derivative financial instrumentsSingapore dollars thousands (473)(440) PDF p. 126
Impairment losses on property, plant and equipmentSingapore dollars thousands 1,090– PDF p. 126
Property, plant and equipment written offSingapore dollars thousands 8– PDF p. 126
Adjustment on rental straight-liningSingapore dollars thousands (7,446)(10,227) PDF p. 126
Interest incomeSingapore dollars thousands (538)(684) PDF p. 126
Interest expenseSingapore dollars thousands 24,01728,418 PDF p. 126
Loss/(gain) on disposal of a subsidiarySingapore dollars thousands 7,535(46) PDF p. 126
Loss on disposal of quoted sharesSingapore dollars thousands 16 PDF p. 126
Loss on classification as held for saleSingapore dollars thousands –2,185 PDF p. 126
Loss on disposal of asset held for saleSingapore dollars thousands –242 PDF p. 126
Share of results of equity-accounted investees, net of taxSingapore dollars thousands 6,152(1,283) PDF p. 126
Manager’s management fees settled in unitsSingapore dollars thousands 4,1804,291 PDF p. 126
Impairment loss on trade and other receivablesSingapore dollars thousands 491– PDF p. 126
Trade and other receivables written offSingapore dollars thousands –260 PDF p. 126
Trade and other payable written backSingapore dollars thousands –(22) PDF p. 126
Tax expenseSingapore dollars thousands 14,87614,944 PDF p. 126
SubtotalSingapore dollars thousands 70,20976,068 PDF p. 126
Changes in:
- InventoriesSingapore dollars thousands (192)(140) PDF p. 126
- Trade and other receivablesSingapore dollars thousands (1,753)5,012 PDF p. 126
- Trade and other payablesSingapore dollars thousands 3,222(6,200) PDF p. 126
Cash generated from operationsSingapore dollars thousands 71,48674,740 PDF p. 126
Tax paidSingapore dollars thousands (15,079)(14,026) PDF p. 126
Net cash from operating activitiesSingapore dollars thousands 56,40760,714 PDF p. 126
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows / continued1

28 metrics

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Group cash flows / continued1 from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Cash flows from investing activities
Acquisition of equity-accounted investeesSingapore dollars thousands –(859) PDF p. 127
Acquisition of a subsidiary, net of cash acquiredSingapore dollars thousands –(264) PDF p. 127
Capital expenditures to investment propertiesSingapore dollars thousands (3,746)(5,859) PDF p. 127
Capital contribution in equity-accounted investeesSingapore dollars thousands (5,118)– PDF p. 127
Loan to a joint ventureSingapore dollars thousands (3,516)– PDF p. 127
Contingent consideration paidSingapore dollars thousands –(9,319) PDF p. 127
Investment in quoted sharesSingapore dollars thousands (226)(441) PDF p. 127
Proceeds from disposals of quoted sharesSingapore dollars thousands 225435 PDF p. 127
Net cash inflow/(outflow) from disposal of a subsidiarySingapore dollars thousands 22,440(82) PDF p. 127
Net cash inflow from disposal of asset held for saleSingapore dollars thousands –34,857 PDF p. 127
Interest receivedSingapore dollars thousands 579813 PDF p. 127
Purchase of property, plant and equipmentSingapore dollars thousands (1,605)(605) PDF p. 127
Net cash from investing activitiesSingapore dollars thousands 9,03318,676 PDF p. 127
Cash flows from financing activities
Proceeds from borrowingsSingapore dollars thousands 73,50032,000 PDF p. 127
Repayment of borrowingsSingapore dollars thousands (67,990)(42,885) PDF p. 127
Payment of lease liabilitiesSingapore dollars thousands (2,442)(1,907) PDF p. 127
Proceeds from settlement of derivative financial instrumentsSingapore dollars thousands 541646 PDF p. 127
(Repayment of loan)/loan from a fellow subsidiarySingapore dollars thousands (200)3,728 PDF p. 127
Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands (1,656)(1,661) PDF p. 127
Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands (31,613)(32,345) PDF p. 127
Payment of transaction costs related to loans and borrowingsSingapore dollars thousands (1,831)(1,669) PDF p. 127
Acquisition of a non-controlling interestsSingapore dollars thousands –(279) PDF p. 127
Interest paidSingapore dollars thousands (18,245)(23,825) PDF p. 127
Net cash used in financing activitiesSingapore dollars thousands (49,936)(68,197) PDF p. 127
Net increase in cash and cash equivalentsSingapore dollars thousands 15,50411,193 PDF p. 127
Cash and cash equivalents at beginning of financial yearSingapore dollars thousands 69,91159,618 PDF p. 127
Effect of exchange rate fluctuations on cash and cash equivalentsSingapore dollars thousands (1,472)(900) PDF p. 127
Cash and cash equivalents at end of financial yearSingapore dollars thousands 83,94369,911 PDF p. 127
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Basic EPS profit numerator

1 metrics

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Basic EPS profit numerator from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Basic EPS profit numerator
Net loss attributable to owners of the CompanySingapore dollars thousands (16,873)(6,003) PDF p. 200
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Basic EPS weighted ordinary shares

1 metrics

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Basic EPS weighted ordinary shares from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Basic EPS weighted ordinary shares
Weighted average number of ordinary shares during the yearShares thousands 4,443,1294,443,129 PDF p. 200
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Diluted EPS profit numerator

1 metrics

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Diluted EPS profit numerator from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Diluted EPS profit numerator
Net loss attributable to owners of the CompanySingapore dollars thousands (16,873)(6,003) PDF p. 200
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Diluted EPS weighted ordinary shares and conversion effect

3 metrics

Units appear below each metric. Scroll to compare years

Diluted EPS weighted ordinary shares and conversion effect from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Diluted EPS weighted ordinary shares and conversion effect
Ordinary share issued at the reporting dateShares thousands 4,443,1294,443,129 PDF p. 200
Effect of conversion of convertible perpetual securities into ordinary sharesShares thousands 2,708,6812,708,681 PDF p. 200
Weighted average number of ordinary shares during the yearShares thousands 7,151,8107,151,810 PDF p. 200
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Revenue by nature

4 metrics

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Revenue by nature from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Revenue by nature
Provision of medical servicesSingapore dollars thousands 35,42133,762 PDF p. 195
Rental incomeSingapore dollars thousands 100,531102,211 PDF p. 195
Sale of medicine and medical devicesSingapore dollars thousands 16,43614,304 PDF p. 195
SubtotalSingapore dollars thousands 152,388150,277 PDF p. 195
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Other expenses, net

17 metrics

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Other expenses, net from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Other expenses, net
Net fair value losses on investment propertiesSingapore dollars thousands (3,528)(9,578) PDF p. 197
Fair value losses on investment properties under developmentSingapore dollars thousands (5,266)(928) PDF p. 197
Loss on disposal of a subsidiarySingapore dollars thousands (7,535)– PDF p. 197
Loss on disposal of quoted sharesSingapore dollars thousands (1)– PDF p. 197
Loss on classification as held for saleSingapore dollars thousands –(2,185) PDF p. 197
Loss on disposal of asset held for saleSingapore dollars thousands –(242) PDF p. 197
Impairment losses on property, plant and equipmentSingapore dollars thousands (1,090)– PDF p. 197
Property, plant and equipment written offSingapore dollars thousands (8)– PDF p. 197
Other expensesSingapore dollars thousands (17,428)(12,933) PDF p. 197
Net fair value gains of derivative financial instrumentsSingapore dollars thousands 473440 PDF p. 197
Trade and other payable written backSingapore dollars thousands –22 PDF p. 197
Gain on disposal of a subsidiarySingapore dollars thousands –46 PDF p. 197
Recovery of litigation costs and settlement sumSingapore dollars thousands –1,303 PDF p. 197
Government grantsSingapore dollars thousands 10252 PDF p. 197
OthersSingapore dollars thousands 151505 PDF p. 197
Other incomeSingapore dollars thousands 7262,368 PDF p. 197
Other expenses, netSingapore dollars thousands (16,702)(10,565) PDF p. 197
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Finance income, costs and net finance costs

7 metrics

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Finance income, costs and net finance costs from ANNUAL REPORT 2025
Metric / unit 2025Group / year1January–31December20252024Group / year1January–31December2024 Source
Finance income, costs and net finance costs
Interest incomeSingapore dollars thousands 538684 PDF p. 197
Finance incomeSingapore dollars thousands 538684 PDF p. 197
Amortisation of transaction costsSingapore dollars thousands (4,705)(4,531) PDF p. 197
Interest expenseSingapore dollars thousands (19,312)(23,887) PDF p. 197
Foreign exchange loss, netSingapore dollars thousands (9,564)(7,090) PDF p. 197
Finance costsSingapore dollars thousands (33,581)(35,508) PDF p. 197
Net finance costsSingapore dollars thousands (33,043)(34,824) PDF p. 197
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group consolidated profit or loss and comprehensive income

28 metrics

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Group consolidated profit or loss and comprehensive income from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
Group comprehensive income
RevenueSingapore dollars thousands 159,315 PDF p. 120
Cost of salesSingapore dollars thousands (37,585) PDF p. 120
Gross profitSingapore dollars thousands 121,730 PDF p. 120
Administrative expensesSingapore dollars thousands (30,881) PDF p. 120
Other (expenses)/income, netSingapore dollars thousands 11,563 PDF p. 120
Results from operating activitiesSingapore dollars thousands 102,412 PDF p. 120
Finance incomeSingapore dollars thousands 701 PDF p. 120
Finance costsSingapore dollars thousands (30,287) PDF p. 120
Net finance costsSingapore dollars thousands (29,586) PDF p. 120
Share of results of equity-accounted investees (net of tax)Singapore dollars thousands 1,692 PDF p. 120
Profit before taxSingapore dollars thousands 74,518 PDF p. 120
Tax expenseSingapore dollars thousands (17,008) PDF p. 120
Profit after tax for the yearSingapore dollars thousands 57,510 PDF p. 120
Items that are or may be reclassified subsequently to profit or loss
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands (22,183) PDF p. 120
Currency translation differences reclassified to profit or lossSingapore dollars thousands – PDF p. 120
Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands (1,769) PDF p. 120
Items that will not be reclassified to profit or loss
Share of fair value reserve of equity-accounted investeesSingapore dollars thousands 387 PDF p. 120
Net change in fair value - equity investment at FVOCISingapore dollars thousands (170) PDF p. 120
Other comprehensive income, net of taxSingapore dollars thousands (23,735) PDF p. 120
Total comprehensive income for the yearSingapore dollars thousands 33,775 PDF p. 120
Profit after tax attributable to
Owners of the CompanySingapore dollars thousands 8,049 PDF p. 120
Non-controlling interestsSingapore dollars thousands 49,461 PDF p. 120
SubtotalSingapore dollars thousands 57,510 PDF p. 120
Total comprehensive income attributable to
Owners of the CompanySingapore dollars thousands (2,580) PDF p. 120
Non-controlling interestsSingapore dollars thousands 36,355 PDF p. 120
SubtotalSingapore dollars thousands 33,775 PDF p. 120
Earnings per share
Basic earnings per share (cents)Singapore cents per share 0.18 PDF p. 120
Diluted earnings per share (cents)Singapore cents per share 0.11 PDF p. 120
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group financial position / assets and equity

25 metrics

Units appear below each metric. Scroll to compare years

Group financial position / assets and equity from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
ASSETS
Property, plant and equipmentSingapore dollars thousands 8,794 PDF p. 118
Intangible assets and goodwillSingapore dollars thousands 30,722 PDF p. 118
Investment propertiesSingapore dollars thousands 1,139,468 PDF p. 118
Investment properties under developmentSingapore dollars thousands 48,493 PDF p. 118
SubsidiariesSingapore dollars thousands – PDF p. 118
Associate and joint venturesSingapore dollars thousands 130,885 PDF p. 118
Other investmentSingapore dollars thousands 2,648 PDF p. 118
Trade and other receivablesSingapore dollars thousands 3,223 PDF p. 118
Non-current assetsSingapore dollars thousands 1,364,233 PDF p. 118
InventoriesSingapore dollars thousands 855 PDF p. 118
Trade and other receivablesSingapore dollars thousands 22,834 PDF p. 118
Derivative financial instrumentsSingapore dollars thousands 560 PDF p. 118
Cash and cash equivalentsSingapore dollars thousands 59,618 PDF p. 118
Current assetsSingapore dollars thousands 83,867 PDF p. 118
Total assetsSingapore dollars thousands 1,448,100 PDF p. 118
EQUITY
Share capitalSingapore dollars thousands 418,913 PDF p. 118
Convertible perpetual securitiesSingapore dollars thousands 79,635 PDF p. 118
Capital reserveSingapore dollars thousands 4,285 PDF p. 118
Asset revaluation reserveSingapore dollars thousands 3,630 PDF p. 118
Foreign currency translation reserveSingapore dollars thousands (50,445) PDF p. 118
Fair value reserveSingapore dollars thousands (25,703) PDF p. 118
Accumulated lossesSingapore dollars thousands (136,119) PDF p. 118
Equity attributable to owners of the CompanySingapore dollars thousands 294,196 PDF p. 118
Non-controlling interestsSingapore dollars thousands 461,816 PDF p. 118
Total equitySingapore dollars thousands 756,012 PDF p. 118
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Company financial position / assets and equity

25 metrics

Units appear below each metric. Scroll to compare years

Company financial position / assets and equity from ANNUAL REPORT 2025
Metric / unit 2023Company / year1January–31December2023 Source
ASSETS
Property, plant and equipmentSingapore dollars thousands 747 PDF p. 118
Intangible assets and goodwillSingapore dollars thousands – PDF p. 118
Investment propertiesSingapore dollars thousands – PDF p. 118
Investment properties under developmentSingapore dollars thousands – PDF p. 118
SubsidiariesSingapore dollars thousands * PDF p. 118
Associate and joint venturesSingapore dollars thousands 23,607 PDF p. 118
Other investmentSingapore dollars thousands – PDF p. 118
Trade and other receivablesSingapore dollars thousands 305,816 PDF p. 118
Non-current assetsSingapore dollars thousands 330,170 PDF p. 118
InventoriesSingapore dollars thousands – PDF p. 118
Trade and other receivablesSingapore dollars thousands 14,737 PDF p. 118
Derivative financial instrumentsSingapore dollars thousands – PDF p. 118
Cash and cash equivalentsSingapore dollars thousands 2,863 PDF p. 118
Current assetsSingapore dollars thousands 17,600 PDF p. 118
Total assetsSingapore dollars thousands 347,770 PDF p. 118
EQUITY
Share capitalSingapore dollars thousands 418,913 PDF p. 118
Convertible perpetual securitiesSingapore dollars thousands 79,635 PDF p. 118
Capital reserveSingapore dollars thousands – PDF p. 118
Asset revaluation reserveSingapore dollars thousands – PDF p. 118
Foreign currency translation reserveSingapore dollars thousands – PDF p. 118
Fair value reserveSingapore dollars thousands – PDF p. 118
Accumulated lossesSingapore dollars thousands (218,532) PDF p. 118
Equity attributable to owners of the CompanySingapore dollars thousands 280,016 PDF p. 118
Non-controlling interestsSingapore dollars thousands – PDF p. 118
Total equitySingapore dollars thousands 280,016 PDF p. 118
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group financial position / liabilities

15 metrics

Units appear below each metric. Scroll to compare years

Group financial position / liabilities from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
LIABILITIES
Loans and borrowingsSingapore dollars thousands 517,306 PDF p. 119
Trade and other payablesSingapore dollars thousands 18,557 PDF p. 119
Lease liabilitiesSingapore dollars thousands 2,210 PDF p. 119
Deferred tax liabilitiesSingapore dollars thousands 50,477 PDF p. 119
Derivative financial instrumentsSingapore dollars thousands 259 PDF p. 119
Non-current liabilitiesSingapore dollars thousands 588,809 PDF p. 119
Loans and borrowingsSingapore dollars thousands 31,346 PDF p. 119
Trade and other payablesSingapore dollars thousands 46,455 PDF p. 119
ProvisionsSingapore dollars thousands 20,199 PDF p. 119
Lease liabilitiesSingapore dollars thousands 1,683 PDF p. 119
Current tax liabilitiesSingapore dollars thousands 3,569 PDF p. 119
Derivative financial instrumentsSingapore dollars thousands 27 PDF p. 119
Current liabilitiesSingapore dollars thousands 103,279 PDF p. 119
Total liabilitiesSingapore dollars thousands 692,088 PDF p. 119
Total equity and liabilitiesSingapore dollars thousands 1,448,100 PDF p. 119
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Company financial position / liabilities

15 metrics

Units appear below each metric. Scroll to compare years

Company financial position / liabilities from ANNUAL REPORT 2025
Metric / unit 2023Company / year1January–31December2023 Source
LIABILITIES
Loans and borrowingsSingapore dollars thousands 11,875 PDF p. 119
Trade and other payablesSingapore dollars thousands – PDF p. 119
Lease liabilitiesSingapore dollars thousands 292 PDF p. 119
Deferred tax liabilitiesSingapore dollars thousands – PDF p. 119
Derivative financial instrumentsSingapore dollars thousands – PDF p. 119
Non-current liabilitiesSingapore dollars thousands 12,167 PDF p. 119
Loans and borrowingsSingapore dollars thousands 30,000 PDF p. 119
Trade and other payablesSingapore dollars thousands 5,098 PDF p. 119
ProvisionsSingapore dollars thousands 20,199 PDF p. 119
Lease liabilitiesSingapore dollars thousands 284 PDF p. 119
Current tax liabilitiesSingapore dollars thousands 6 PDF p. 119
Derivative financial instrumentsSingapore dollars thousands – PDF p. 119
Current liabilitiesSingapore dollars thousands 55,587 PDF p. 119
Total liabilitiesSingapore dollars thousands 67,754 PDF p. 119
Total equity and liabilitiesSingapore dollars thousands 347,770 PDF p. 119
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group changes in equity / 2023

15 metrics

Units appear below each metric. Scroll to compare years

Group changes in equity / 2023 from ANNUAL REPORT 2025
Metric / unit 2023Group / Share capital2023Group / Convertible perpetual securities2023Group / Capital reserve2023Group / Asset revaluation reserve2023Group / Foreign currency translation reserve2023Group / Fair value reserve2023Group / Accumulated losses2023Group / Total attributable to owners of the Company2023Group / Non-controlling interests2023Group / Total equity Source
Group changes in equity
At 1 January 2023Singapore dollars thousands 418,91379,6354,2033,630(39,517)(25,920)(142,210)298,734459,289758,023 PDF p. 122
Profit for the yearSingapore dollars thousands ––––––8,0498,04949,46157,510 PDF p. 122
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands ––82–(9,159)––(9,077)(13,106)(22,183) PDF p. 122
Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands ––––(1,769)––(1,769)–(1,769) PDF p. 122
Share of fair value reserve of equity-accounted investeesSingapore dollars thousands –––––387–387–387 PDF p. 122
Net change in fair value – equity investment at FVOCISingapore dollars thousands –––––(170)–(170)–(170) PDF p. 122
Total other comprehensive income, net of taxSingapore dollars thousands ––82–(10,928)217–(10,629)(13,106)(23,735) PDF p. 122
Total comprehensive income for the yearSingapore dollars thousands ––82–(10,928)2178,049(2,580)36,35533,775 PDF p. 122
Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands ––––––––(1,656)(1,656) PDF p. 122
Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands ––––––––(34,130)(34,130) PDF p. 122
Total contributions by and distributions to ownersSingapore dollars thousands ––––––––(35,786)(35,786) PDF p. 122
Changes in ownership interests in subsidiaries without a change in controlSingapore dollars thousands ––––––(1,958)(1,958)1,958– PDF p. 122
Total changes in ownership interests in subsidiariesSingapore dollars thousands ––––––(1,958)(1,958)1,958– PDF p. 122
Total transactions with ownersSingapore dollars thousands ––––––(1,958)(1,958)(33,828)(35,786) PDF p. 122
At 31 December 2023Singapore dollars thousands 418,91379,6354,2853,630(50,445)(25,703)(136,119)294,196461,816756,012 PDF p. 122
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows

26 metrics

Units appear below each metric. Scroll to compare years

Group cash flows from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
Cash flows from operating activities
Profit after taxSingapore dollars thousands 57,510 PDF p. 123
Adjustments for:
Depreciation of property, plant and equipmentSingapore dollars thousands 2,155 PDF p. 123
Net fair value losses/(gains) on investment propertiesSingapore dollars thousands (10,834) PDF p. 123
Fair value losses on investment properties under developmentSingapore dollars thousands 948 PDF p. 123
Net fair value (gains)/losses of derivative financial instrumentsSingapore dollars thousands 477 PDF p. 123
Property, plant and equipment written-offSingapore dollars thousands 2 PDF p. 123
Adjustment on rental straight-liningSingapore dollars thousands (15,189) PDF p. 123
Impairment losses on property, plant and equipmentSingapore dollars thousands 589 PDF p. 123
Interest incomeSingapore dollars thousands (701) PDF p. 123
Interest expenseSingapore dollars thousands 26,546 PDF p. 123
Gain on disposal of a subsidiarySingapore dollars thousands – PDF p. 123
Losses on disposal of quoted sharesSingapore dollars thousands 7 PDF p. 123
Loss on classification as held for saleSingapore dollars thousands – PDF p. 123
Loss on disposal of asset held for saleSingapore dollars thousands – PDF p. 123
Share of results of equity-accounted investees, net of taxSingapore dollars thousands (1,692) PDF p. 123
Manager’s management fees settled in unitsSingapore dollars thousands 4,468 PDF p. 123
Trade and other receivables written offSingapore dollars thousands 455 PDF p. 123
Trade and other payable written backSingapore dollars thousands (1,705) PDF p. 123
Tax expenseSingapore dollars thousands 17,008 PDF p. 123
SubtotalSingapore dollars thousands 80,044 PDF p. 123
Changes in:
- InventoriesSingapore dollars thousands (81) PDF p. 123
- Trade and other receivablesSingapore dollars thousands (2,718) PDF p. 123
- Trade and other payablesSingapore dollars thousands 1,186 PDF p. 123
Cash generated from operationsSingapore dollars thousands 78,431 PDF p. 123
Tax paidSingapore dollars thousands (12,908) PDF p. 123
Net cash from operating activitiesSingapore dollars thousands 65,523 PDF p. 123
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows / continued1

24 metrics

Units appear below each metric. Scroll to compare years

Group cash flows / continued1 from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
Cash flows from investing activities
Acquisition of equity-accounted investeesSingapore dollars thousands (57,120) PDF p. 124
Acquisition of a subsidiary, net of cash acquiredSingapore dollars thousands – PDF p. 124
Capital contribution in equity-accounted investeesSingapore dollars thousands (2,904) PDF p. 124
Capital expenditures to investment propertiesSingapore dollars thousands (4,923) PDF p. 124
Contingent consideration paidSingapore dollars thousands – PDF p. 124
Investment in quoted sharesSingapore dollars thousands (117) PDF p. 124
Proceeds from disposals of quoted sharesSingapore dollars thousands 110 PDF p. 124
Net cash (outflow)/inflow from disposal of a subsidiarySingapore dollars thousands 246 PDF p. 124
Net cash inflow from disposal of asset held for saleSingapore dollars thousands – PDF p. 124
Repayment of advance to joint venture partnerSingapore dollars thousands 1,800 PDF p. 124
Interest receivedSingapore dollars thousands 540 PDF p. 124
Purchase of property, plant and equipmentSingapore dollars thousands (477) PDF p. 124
Net cash from/(used in) investing activitiesSingapore dollars thousands (62,845) PDF p. 124
Cash flows from financing activities
Proceeds from borrowingsSingapore dollars thousands 191,118 PDF p. 124
Repayment of borrowingsSingapore dollars thousands (136,262) PDF p. 124
Payment of lease liabilitiesSingapore dollars thousands (1,866) PDF p. 124
Proceeds from settlement of derivative financial instrumentsSingapore dollars thousands 4 PDF p. 124
Loan from a fellow subsidiarySingapore dollars thousands – PDF p. 124
Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands (1,656) PDF p. 124
Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands (34,130) PDF p. 124
Payment of transaction costs related to loans and borrowingsSingapore dollars thousands (3,778) PDF p. 124
Acquisition of a non-controlling interestsSingapore dollars thousands – PDF p. 124
Interest paidSingapore dollars thousands (21,523) PDF p. 124
Net cash used in financing activitiesSingapore dollars thousands (8,093) PDF p. 124
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows / continued2

4 metrics

Units appear below each metric. Scroll to compare years

Group cash flows / continued2 from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
Group cash flows
Net increase/(decrease) in cash and cash equivalentsSingapore dollars thousands (5,415) PDF p. 125
Cash and cash equivalents at beginning of financial yearSingapore dollars thousands 66,877 PDF p. 125
Effect of exchange rate fluctuations on cash and cash equivalentsSingapore dollars thousands (1,844) PDF p. 125
Cash and cash equivalents at end of financial yearSingapore dollars thousands 59,618 PDF p. 125
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Basic EPS profit numerator

1 metrics

Units appear below each metric. Scroll to compare years

Basic EPS profit numerator from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
Basic EPS profit numerator
Net (loss)/profit attributable to owners of the CompanySingapore dollars thousands 8,049 PDF p. 192
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Basic EPS weighted ordinary shares

1 metrics

Units appear below each metric. Scroll to compare years

Basic EPS weighted ordinary shares from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
Basic EPS weighted ordinary shares
Weighted average number of ordinary shares during the yearShares thousands 4,443,129 PDF p. 192
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Diluted EPS profit numerator

1 metrics

Units appear below each metric. Scroll to compare years

Diluted EPS profit numerator from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
Diluted EPS profit numerator
Net (loss)/profit attributable to owners of the CompanySingapore dollars thousands 8,049 PDF p. 192
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Diluted EPS weighted ordinary shares and conversion effect

3 metrics

Units appear below each metric. Scroll to compare years

Diluted EPS weighted ordinary shares and conversion effect from ANNUAL REPORT 2025
Metric / unit 2023Group / year1January–31December2023 Source
Diluted EPS weighted ordinary shares and conversion effect
Ordinary share issued at the reporting dateShares thousands 4,443,129 PDF p. 192
Effect of conversion of convertible perpetual securities into ordinary sharesShares thousands 2,708,681 PDF p. 192
Weighted average number of ordinary shares during the yearShares thousands 7,151,810 PDF p. 192
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group consolidated profit or loss and comprehensive income

27 metrics

Units appear below each metric. Scroll to compare years

Group consolidated profit or loss and comprehensive income from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
Group comprehensive income
RevenueSingapore dollars thousands 119,796 PDF p. 113
Cost of salesSingapore dollars thousands (18,187) PDF p. 113
Gross profitSingapore dollars thousands 101,609 PDF p. 113
Administrative expensesSingapore dollars thousands (24,344) PDF p. 113
Other income/(expenses), netSingapore dollars thousands (6,140) PDF p. 113
Results from operating activitiesSingapore dollars thousands 71,125 PDF p. 113
Finance incomeSingapore dollars thousands 456 PDF p. 113
Finance costsSingapore dollars thousands (20,373) PDF p. 113
Net finance costsSingapore dollars thousands (19,917) PDF p. 113
Share of results of equity-accounted investees (net of tax)Singapore dollars thousands (1,473) PDF p. 113
Profit before taxSingapore dollars thousands 49,735 PDF p. 113
Tax expenseSingapore dollars thousands (17,239) PDF p. 113
Profit after tax for the yearSingapore dollars thousands 32,496 PDF p. 113
Items that are or may be reclassified subsequently to profit or loss
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands (82,476) PDF p. 113
Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands (5,886) PDF p. 113
Items that will not be reclassified to profit or loss
Share of fair value reserve of equity-accounted investeesSingapore dollars thousands (3,123) PDF p. 113
Net change in fair value - equity investment at FVOCISingapore dollars thousands – PDF p. 113
Other comprehensive income, net of taxSingapore dollars thousands (91,485) PDF p. 113
Total comprehensive income for the yearSingapore dollars thousands (58,989) PDF p. 113
Profit after tax attributable to
Owners of the CompanySingapore dollars thousands 4,392 PDF p. 113
Non-controlling interestsSingapore dollars thousands 28,104 PDF p. 113
SubtotalSingapore dollars thousands 32,496 PDF p. 113
Total comprehensive income attributable to
Owners of the CompanySingapore dollars thousands (36,087) PDF p. 113
Non-controlling interestsSingapore dollars thousands (22,902) PDF p. 113
SubtotalSingapore dollars thousands (58,989) PDF p. 113
Earnings per share
Basic earnings per share (cents)Singapore cents per share 0.10 PDF p. 113
Diluted earnings per share (cents)Singapore cents per share 0.06 PDF p. 113
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group financial position / assets and equity

26 metrics

Units appear below each metric. Scroll to compare years

Group financial position / assets and equity from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
ASSETS
Property, plant and equipmentSingapore dollars thousands 8,201 PDF p. 111
Intangible assets and goodwillSingapore dollars thousands 30,785 PDF p. 111
Investment propertiesSingapore dollars thousands 1,145,343 PDF p. 111
Investment properties under developmentSingapore dollars thousands 52,283 PDF p. 111
SubsidiariesSingapore dollars thousands – PDF p. 111
Associate and joint venturesSingapore dollars thousands 70,550 PDF p. 111
Other investmentSingapore dollars thousands 2,817 PDF p. 111
Trade and other receivablesSingapore dollars thousands 3,358 PDF p. 111
Derivative financial instrumentsSingapore dollars thousands 1,248 PDF p. 111
Non-current assetsSingapore dollars thousands 1,314,585 PDF p. 111
InventoriesSingapore dollars thousands 774 PDF p. 111
Trade and other receivablesSingapore dollars thousands 20,350 PDF p. 111
Derivative financial instrumentsSingapore dollars thousands – PDF p. 111
Cash and cash equivalentsSingapore dollars thousands 66,877 PDF p. 111
Current assetsSingapore dollars thousands 88,001 PDF p. 111
Total assetsSingapore dollars thousands 1,402,586 PDF p. 111
EQUITY
Share capitalSingapore dollars thousands 418,913 PDF p. 111
Convertible perpetual securitiesSingapore dollars thousands 79,635 PDF p. 111
Capital reserveSingapore dollars thousands 4,203 PDF p. 111
Asset revaluation reserveSingapore dollars thousands 3,630 PDF p. 111
Foreign currency translation reserveSingapore dollars thousands (39,517) PDF p. 111
Fair value reserveSingapore dollars thousands (25,920) PDF p. 111
Accumulated lossesSingapore dollars thousands (142,210) PDF p. 111
Equity attributable to owners of the CompanySingapore dollars thousands 298,734 PDF p. 111
Non-controlling interestsSingapore dollars thousands 459,289 PDF p. 111
Total equitySingapore dollars thousands 758,023 PDF p. 111
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Company financial position / assets and equity

26 metrics

Units appear below each metric. Scroll to compare years

Company financial position / assets and equity from ANNUAL REPORT 2025
Metric / unit 2022Company / year1January–31December2022 Source
ASSETS
Property, plant and equipmentSingapore dollars thousands 248 PDF p. 111
Intangible assets and goodwillSingapore dollars thousands – PDF p. 111
Investment propertiesSingapore dollars thousands – PDF p. 111
Investment properties under developmentSingapore dollars thousands – PDF p. 111
SubsidiariesSingapore dollars thousands * PDF p. 111
Associate and joint venturesSingapore dollars thousands 23,607 PDF p. 111
Other investmentSingapore dollars thousands – PDF p. 111
Trade and other receivablesSingapore dollars thousands 58,872 PDF p. 111
Derivative financial instrumentsSingapore dollars thousands – PDF p. 111
Non-current assetsSingapore dollars thousands 82,727 PDF p. 111
InventoriesSingapore dollars thousands – PDF p. 111
Trade and other receivablesSingapore dollars thousands 259,295 PDF p. 111
Derivative financial instrumentsSingapore dollars thousands – PDF p. 111
Cash and cash equivalentsSingapore dollars thousands 9,648 PDF p. 111
Current assetsSingapore dollars thousands 268,943 PDF p. 111
Total assetsSingapore dollars thousands 351,670 PDF p. 111
EQUITY
Share capitalSingapore dollars thousands 418,913 PDF p. 111
Convertible perpetual securitiesSingapore dollars thousands 79,635 PDF p. 111
Capital reserveSingapore dollars thousands – PDF p. 111
Asset revaluation reserveSingapore dollars thousands – PDF p. 111
Foreign currency translation reserveSingapore dollars thousands – PDF p. 111
Fair value reserveSingapore dollars thousands – PDF p. 111
Accumulated lossesSingapore dollars thousands (206,811) PDF p. 111
Equity attributable to owners of the CompanySingapore dollars thousands 291,737 PDF p. 111
Non-controlling interestsSingapore dollars thousands – PDF p. 111
Total equitySingapore dollars thousands 291,737 PDF p. 111
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group financial position / liabilities

15 metrics

Units appear below each metric. Scroll to compare years

Group financial position / liabilities from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
LIABILITIES
Loans and borrowingsSingapore dollars thousands 449,614 PDF p. 112
Trade and other payablesSingapore dollars thousands 29,023 PDF p. 112
Lease liabilitiesSingapore dollars thousands 1,252 PDF p. 112
Deferred tax liabilitiesSingapore dollars thousands 51,772 PDF p. 112
Derivative financial instrumentsSingapore dollars thousands – PDF p. 112
Non-current liabilitiesSingapore dollars thousands 531,661 PDF p. 112
Loans and borrowingsSingapore dollars thousands 52,933 PDF p. 112
Trade and other payablesSingapore dollars thousands 35,895 PDF p. 112
ProvisionsSingapore dollars thousands 20,724 PDF p. 112
Lease liabilitiesSingapore dollars thousands 1,024 PDF p. 112
Current tax liabilitiesSingapore dollars thousands 1,832 PDF p. 112
Derivative financial instrumentsSingapore dollars thousands 494 PDF p. 112
Current liabilitiesSingapore dollars thousands 112,902 PDF p. 112
Total liabilitiesSingapore dollars thousands 644,563 PDF p. 112
Total equity and liabilitiesSingapore dollars thousands 1,402,586 PDF p. 112
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Company financial position / liabilities

15 metrics

Units appear below each metric. Scroll to compare years

Company financial position / liabilities from ANNUAL REPORT 2025
Metric / unit 2022Company / year1January–31December2022 Source
LIABILITIES
Loans and borrowingsSingapore dollars thousands – PDF p. 112
Trade and other payablesSingapore dollars thousands – PDF p. 112
Lease liabilitiesSingapore dollars thousands – PDF p. 112
Deferred tax liabilitiesSingapore dollars thousands – PDF p. 112
Derivative financial instrumentsSingapore dollars thousands – PDF p. 112
Non-current liabilitiesSingapore dollars thousands – PDF p. 112
Loans and borrowingsSingapore dollars thousands 30,189 PDF p. 112
Trade and other payablesSingapore dollars thousands 9,020 PDF p. 112
ProvisionsSingapore dollars thousands 20,724 PDF p. 112
Lease liabilitiesSingapore dollars thousands – PDF p. 112
Current tax liabilitiesSingapore dollars thousands – PDF p. 112
Derivative financial instrumentsSingapore dollars thousands – PDF p. 112
Current liabilitiesSingapore dollars thousands 59,933 PDF p. 112
Total liabilitiesSingapore dollars thousands 59,933 PDF p. 112
Total equity and liabilitiesSingapore dollars thousands 351,670 PDF p. 112
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group changes in equity / 2022

19 metrics

Units appear below each metric. Scroll to compare years

Group changes in equity / 2022 from ANNUAL REPORT 2025
Metric / unit 2022Group / Share capital2022Group / Convertible perpetual securities2022Group / Capital reserve2022Group / Asset revaluation reserve2022Group / Foreign currency translation reserve2022Group / Fair value reserve2022Group / Accumulated losses2022Group / Total attributable to owners of the Company2022Group / Non-controlling interests2022Group / Total equity Source
Group changes in equity
At 1 January 2022Singapore dollars thousands 418,91379,635–3,630(6,791)(22,797)(147,967)324,623(429)324,194 PDF p. 115
Profit for the yearSingapore dollars thousands ––––––4,3924,39228,10432,496 PDF p. 115
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands ––––(31,470)––(31,470)(51,006)(82,476) PDF p. 115
Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands ––––(5,886)––(5,886)–(5,886) PDF p. 115
Share of fair value reserve of equity-accounted investeesSingapore dollars thousands –––––(3,123)–(3,123)–(3,123) PDF p. 115
Total other comprehensive income, net of taxSingapore dollars thousands ––––(37,356)(3,123)–(40,479)(51,006)(91,485) PDF p. 115
Total comprehensive income for the yearSingapore dollars thousands ––––(37,356)(3,123)4,392(36,087)(22,902)(58,989) PDF p. 115
Contributions by and distributions to owners Perpetual securities redemption, distribution and gain on redemption, net transaction costs by a subsidiarySingapore dollars thousands ––––––2,5932,593(21,715)(19,122) PDF p. 115
Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands ––––––––(1,481)(1,481) PDF p. 115
Distribution to unitholders by a subsidiarySingapore dollars thousands ––––––––(24,059)(24,059) PDF p. 115
Total contributions by and distributions to ownersSingapore dollars thousands ––––––2,5932,593(47,255)(44,662) PDF p. 115
Changes in ownership interests in subsidiaries without a change in controlSingapore dollars thousands ––––––(1,228)(1,228)1,228– PDF p. 115
Disposal of subsidiaries to non-controlling interests without a change in controlSingapore dollars thousands ––4,203–4,630––8,83392,190101,023 PDF p. 115
Capital contribution from a fellow subsidiarySingapore dollars thousands ––––––––400400 PDF p. 115
Acquisition of a subsidiary with perpetual securities holdersSingapore dollars thousands ––––––––59,65159,651 PDF p. 115
Acquisition of subsidiaries with non-controlling interestSingapore dollars thousands ––––––––376,406376,406 PDF p. 115
Total changes in ownership interests in subsidiariesSingapore dollars thousands ––4,203–4,630–(1,228)7,605529,875537,480 PDF p. 115
Total transactions with ownersSingapore dollars thousands ––4,203–4,630–1,36510,198482,620492,818 PDF p. 115
At 31 December 2022Singapore dollars thousands 418,91379,6354,2033,630(39,517)(25,920)(142,210)298,734459,289758,023 PDF p. 115
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows

26 metrics

Units appear below each metric. Scroll to compare years

Group cash flows from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
Cash flows from operating activities
Profit after taxSingapore dollars thousands 32,496 PDF p. 116
Adjustments for:
Depreciation of property, plant and equipmentSingapore dollars thousands 1,496 PDF p. 116
Net fair value (gains)/losses on investment propertiesSingapore dollars thousands 8,692 PDF p. 116
Fair value losses on investment properties under developmentSingapore dollars thousands 1,429 PDF p. 116
Net fair value losses of derivative financial instrumentsSingapore dollars thousands 420 PDF p. 116
Property, plant and equipment written-offSingapore dollars thousands 5 PDF p. 116
Adjustment on rental straight-liningSingapore dollars thousands (16,358) PDF p. 116
Impairment losses on property, plant and equipmentSingapore dollars thousands – PDF p. 116
Interest incomeSingapore dollars thousands (456) PDF p. 116
Interest expenseSingapore dollars thousands 19,271 PDF p. 116
Net gain from the First REIT transactionSingapore dollars thousands (3,144) PDF p. 116
Losses on disposal of quoted sharesSingapore dollars thousands 30 PDF p. 116
Loss on disposal of a subsidiarySingapore dollars thousands 713 PDF p. 116
Reversal of provision for site restorationSingapore dollars thousands (910) PDF p. 116
Share of results of equity-accounted investees, net of taxSingapore dollars thousands 1,473 PDF p. 116
Manager’s management fees settled in unitsSingapore dollars thousands 3,980 PDF p. 116
Trade and other receivables written offSingapore dollars thousands 127 PDF p. 116
Trade and other payable written backSingapore dollars thousands – PDF p. 116
Tax expenseSingapore dollars thousands 17,239 PDF p. 116
SubtotalSingapore dollars thousands 66,503 PDF p. 116
Changes in:
- InventoriesSingapore dollars thousands (478) PDF p. 116
- Trade and other receivablesSingapore dollars thousands 24,406 PDF p. 116
- Trade and other payablesSingapore dollars thousands (26,333) PDF p. 116
Cash generated from operationsSingapore dollars thousands 64,098 PDF p. 116
Tax paidSingapore dollars thousands (12,479) PDF p. 116
Net cash from operating activitiesSingapore dollars thousands 51,619 PDF p. 116
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows / continued1

28 metrics

Units appear below each metric. Scroll to compare years

Group cash flows / continued1 from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
Cash flows from investing activities
Acquisition of equity-accounted investeesSingapore dollars thousands – PDF p. 117
Acquisition of investment propertiesSingapore dollars thousands (31,061) PDF p. 117
Acquisition of other investmentSingapore dollars thousands (2,817) PDF p. 117
Acquisition of subsidiaries, net of cash acquiredSingapore dollars thousands (18,639) PDF p. 117
Capital contribution in equity-accounted investeesSingapore dollars thousands (4,901) PDF p. 117
Capital contribution from a fellow subsidiarySingapore dollars thousands 400 PDF p. 117
Capital expenditures to investment propertiesSingapore dollars thousands (4,278) PDF p. 117
Dividends from an equity-accounted investeeSingapore dollars thousands 2,830 PDF p. 117
Investment in quoted sharesSingapore dollars thousands (383) PDF p. 117
Disposals of quoted sharesSingapore dollars thousands 492 PDF p. 117
Net cash inflow from the First REIT transactionSingapore dollars thousands 58,484 PDF p. 117
Net cash inflow from disposal of a subsidiarySingapore dollars thousands 37,954 PDF p. 117
Repayment of loan from joint ventureSingapore dollars thousands 3,000 PDF p. 117
Repayment of advance to joint venture partnerSingapore dollars thousands 2,310 PDF p. 117
Interest receivedSingapore dollars thousands 413 PDF p. 117
Purchase of property, plant and equipmentSingapore dollars thousands (610) PDF p. 117
Net cash (used in)/from investing activitiesSingapore dollars thousands 43,194 PDF p. 117
Cash flows from financing activities
Proceeds from borrowingsSingapore dollars thousands 379,271 PDF p. 117
Repayment of borrowingsSingapore dollars thousands (387,968) PDF p. 117
Payment of lease liabilitiesSingapore dollars thousands (1,066) PDF p. 117
Proceeds from settlement of derivative financial instrumentsSingapore dollars thousands – PDF p. 117
Loan from a fellow subsidiarySingapore dollars thousands 8,000 PDF p. 117
Perpetual securities redemption, distribution and gain on redemption, net transaction cost by a subsidiarySingapore dollars thousands (19,122) PDF p. 117
Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands (1,481) PDF p. 117
Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands (24,059) PDF p. 117
Payment of transaction costs related to loans and borrowingsSingapore dollars thousands (7,176) PDF p. 117
Interest paidSingapore dollars thousands (14,328) PDF p. 117
Net cash used in financing activitiesSingapore dollars thousands (67,929) PDF p. 117
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows / continued2

4 metrics

Units appear below each metric. Scroll to compare years

Group cash flows / continued2 from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
Group cash flows
Net (decrease)/increase in cash and cash equivalentsSingapore dollars thousands 26,884 PDF p. 118
Cash and cash equivalents at beginning of financial yearSingapore dollars thousands 43,823 PDF p. 118
Effect of exchange rate fluctuations on cash and cash equivalentsSingapore dollars thousands (3,830) PDF p. 118
Cash and cash equivalents at end of financial yearSingapore dollars thousands 66,877 PDF p. 118
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Basic EPS profit numerator

1 metrics

Units appear below each metric. Scroll to compare years

Basic EPS profit numerator from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
Basic EPS profit numerator
Net profit attributable to owners of the CompanySingapore dollars thousands 4,392 PDF p. 197
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Basic EPS weighted ordinary shares

1 metrics

Units appear below each metric. Scroll to compare years

Basic EPS weighted ordinary shares from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
Basic EPS weighted ordinary shares
Weighted average number of ordinary shares during the yearShares thousands 4,443,129 PDF p. 197
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Diluted EPS profit numerator

1 metrics

Units appear below each metric. Scroll to compare years

Diluted EPS profit numerator from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
Diluted EPS profit numerator
Net profit attributable to owners of the CompanySingapore dollars thousands 4,392 PDF p. 197
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Diluted EPS weighted ordinary shares and conversion effect

3 metrics

Units appear below each metric. Scroll to compare years

Diluted EPS weighted ordinary shares and conversion effect from ANNUAL REPORT 2025
Metric / unit 2022Group / year1January–31December2022 Source
Diluted EPS weighted ordinary shares and conversion effect
Ordinary share issued at the reporting dateShares thousands 4,443,129 PDF p. 197
Effect of conversion of convertible perpetual securities into ordinary sharesShares thousands 2,708,681 PDF p. 197
Weighted average number of ordinary shares during the yearShares thousands 7,151,810 PDF p. 197
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group consolidated profit or loss and comprehensive income

26 metrics

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Group consolidated profit or loss and comprehensive income from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Group comprehensive income
RevenueSingapore dollars thousands 19,665 PDF p. 56
Cost of salesSingapore dollars thousands (5,092) PDF p. 56
Gross profitSingapore dollars thousands 14,573 PDF p. 56
Administrative expensesSingapore dollars thousands (12,985) PDF p. 56
Other (expenses)/income, netSingapore dollars thousands 97,824 PDF p. 56
Results from operating activitiesSingapore dollars thousands 99,412 PDF p. 56
Finance incomeSingapore dollars thousands 260 PDF p. 56
Finance costsSingapore dollars thousands (4,043) PDF p. 56
Net finance costsSingapore dollars thousands (3,783) PDF p. 56
Share of results of equity-accounted investees (net of tax)Singapore dollars thousands 12,648 PDF p. 56
Profit before taxSingapore dollars thousands 108,277 PDF p. 56
Tax (expense)/creditSingapore dollars thousands 2,672 PDF p. 56
Profit after tax for the yearSingapore dollars thousands 110,949 PDF p. 56
Items that are or may be reclassified subsequently to profit or loss
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands (8,819) PDF p. 56
Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands (3,873) PDF p. 56
Items that will not be reclassified to profit or loss
Share of fair value reserve of equity-accounted investeesSingapore dollars thousands 5,065 PDF p. 56
Other comprehensive income, net of taxSingapore dollars thousands (7,627) PDF p. 56
Total comprehensive income for the yearSingapore dollars thousands 103,322 PDF p. 56
Profit after tax attributable to
Owners of the CompanySingapore dollars thousands 111,378 PDF p. 56
Non-controlling interestsSingapore dollars thousands (429) PDF p. 56
SubtotalSingapore dollars thousands 110,949 PDF p. 56
Total comprehensive income attributable to
Owners of the CompanySingapore dollars thousands 103,751 PDF p. 56
Non-controlling interestsSingapore dollars thousands (429) PDF p. 56
SubtotalSingapore dollars thousands 103,322 PDF p. 56
Earnings per share
Basic earnings per share (cents)Singapore cents per share 2.51 PDF p. 56
Diluted earnings per share (cents)Singapore cents per share 1.69 PDF p. 56
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group financial position / assets and equity

25 metrics

Units appear below each metric. Scroll to compare years

Group financial position / assets and equity from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Assets
Property, plant and equipmentSingapore dollars thousands 7,460 PDF p. 55
Intangible assets and goodwillSingapore dollars thousands 3,066 PDF p. 55
Investment propertiesSingapore dollars thousands 290,556 PDF p. 55
Investment properties under developmentSingapore dollars thousands 57,691 PDF p. 55
SubsidiariesSingapore dollars thousands – PDF p. 55
Associate and joint venturesSingapore dollars thousands 175,711 PDF p. 55
Other investmentSingapore dollars thousands – PDF p. 55
Trade and other receivablesSingapore dollars thousands 3,215 PDF p. 55
Derivative financial instrumentsSingapore dollars thousands – PDF p. 55
Non-current assetsSingapore dollars thousands 537,699 PDF p. 55
InventoriesSingapore dollars thousands 296 PDF p. 55
Trade and other receivablesSingapore dollars thousands 12,579 PDF p. 55
Cash and cash equivalentsSingapore dollars thousands 43,823 PDF p. 55
Current assetsSingapore dollars thousands 56,698 PDF p. 55
Total assetsSingapore dollars thousands 594,397 PDF p. 55
Equity
Share capitalSingapore dollars thousands 418,913 PDF p. 55
Convertible perpetual securitiesSingapore dollars thousands 79,635 PDF p. 55
Capital reserveSingapore dollars thousands – PDF p. 55
Asset revaluation reserveSingapore dollars thousands 3,630 PDF p. 55
Foreign currency translation reserveSingapore dollars thousands (6,791) PDF p. 55
Fair value reserveSingapore dollars thousands (22,797) PDF p. 55
Accumulated lossesSingapore dollars thousands (147,967) PDF p. 55
Equity attributable to owners of the CompanySingapore dollars thousands 324,623 PDF p. 55
Non-controlling interestsSingapore dollars thousands (429) PDF p. 55
Total equitySingapore dollars thousands 324,194 PDF p. 55
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Company financial position / assets and equity

25 metrics

Units appear below each metric. Scroll to compare years

Company financial position / assets and equity from ANNUAL REPORT 2025
Metric / unit 2021Company / year1January–31December2021 Source
Assets
Property, plant and equipmentSingapore dollars thousands 453 PDF p. 55
Intangible assets and goodwillSingapore dollars thousands – PDF p. 55
Investment propertiesSingapore dollars thousands – PDF p. 55
Investment properties under developmentSingapore dollars thousands – PDF p. 55
SubsidiariesSingapore dollars thousands 84,092 PDF p. 55
Associate and joint venturesSingapore dollars thousands 23,607 PDF p. 55
Other investmentSingapore dollars thousands – PDF p. 55
Trade and other receivablesSingapore dollars thousands 9,792 PDF p. 55
Derivative financial instrumentsSingapore dollars thousands – PDF p. 55
Non-current assetsSingapore dollars thousands 117,944 PDF p. 55
InventoriesSingapore dollars thousands – PDF p. 55
Trade and other receivablesSingapore dollars thousands 215,458 PDF p. 55
Cash and cash equivalentsSingapore dollars thousands 6,057 PDF p. 55
Current assetsSingapore dollars thousands 221,515 PDF p. 55
Total assetsSingapore dollars thousands 339,459 PDF p. 55
Equity
Share capitalSingapore dollars thousands 418,913 PDF p. 55
Convertible perpetual securitiesSingapore dollars thousands 79,635 PDF p. 55
Capital reserveSingapore dollars thousands – PDF p. 55
Asset revaluation reserveSingapore dollars thousands – PDF p. 55
Foreign currency translation reserveSingapore dollars thousands – PDF p. 55
Fair value reserveSingapore dollars thousands – PDF p. 55
Accumulated lossesSingapore dollars thousands (262,189) PDF p. 55
Equity attributable to owners of the CompanySingapore dollars thousands 236,359 PDF p. 55
Non-controlling interestsSingapore dollars thousands – PDF p. 55
Total equitySingapore dollars thousands 236,359 PDF p. 55
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group financial position / liabilities

14 metrics

Units appear below each metric. Scroll to compare years

Group financial position / liabilities from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Liabilities
Loans and borrowingsSingapore dollars thousands 146,272 PDF p. 56
Trade and other payablesSingapore dollars thousands 7,448 PDF p. 56
Lease liabilitiesSingapore dollars thousands 911 PDF p. 56
Deferred tax liabilitiesSingapore dollars thousands 34,597 PDF p. 56
Non-current liabilitiesSingapore dollars thousands 189,228 PDF p. 56
Loans and borrowingsSingapore dollars thousands 40,847 PDF p. 56
Trade and other payablesSingapore dollars thousands 17,161 PDF p. 56
ProvisionsSingapore dollars thousands 22,507 PDF p. 56
Lease liabilitiesSingapore dollars thousands 407 PDF p. 56
Current tax liabilitiesSingapore dollars thousands 53 PDF p. 56
Derivative financial instrumentsSingapore dollars thousands – PDF p. 56
Current liabilitiesSingapore dollars thousands 80,975 PDF p. 56
Total liabilitiesSingapore dollars thousands 270,203 PDF p. 56
Total equity and liabilitiesSingapore dollars thousands 594,397 PDF p. 56
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Company financial position / liabilities

14 metrics

Units appear below each metric. Scroll to compare years

Company financial position / liabilities from ANNUAL REPORT 2025
Metric / unit 2021Company / year1January–31December2021 Source
Liabilities
Loans and borrowingsSingapore dollars thousands – PDF p. 56
Trade and other payablesSingapore dollars thousands – PDF p. 56
Lease liabilitiesSingapore dollars thousands 132 PDF p. 56
Deferred tax liabilitiesSingapore dollars thousands – PDF p. 56
Non-current liabilitiesSingapore dollars thousands 132 PDF p. 56
Loans and borrowingsSingapore dollars thousands 30,189 PDF p. 56
Trade and other payablesSingapore dollars thousands 51,564 PDF p. 56
ProvisionsSingapore dollars thousands 20,957 PDF p. 56
Lease liabilitiesSingapore dollars thousands 258 PDF p. 56
Current tax liabilitiesSingapore dollars thousands – PDF p. 56
Derivative financial instrumentsSingapore dollars thousands – PDF p. 56
Current liabilitiesSingapore dollars thousands 102,968 PDF p. 56
Total liabilitiesSingapore dollars thousands 103,100 PDF p. 56
Total equity and liabilitiesSingapore dollars thousands 339,459 PDF p. 56
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group changes in equity / 2021

10 metrics

Units appear below each metric. Scroll to compare years

Group changes in equity / 2021 from ANNUAL REPORT 2025
Metric / unit 2021Group / Share capital2021Group / Convertible perpetual securities2021Group / Asset revaluation reserve2021Group / Foreign currency translation reserve2021Group / Fair value reserve2021Group / Accumulated losses2021Group / Total attributable to owners of the Company2021Group / Non-controlling interests2021Group / Total equity Source
Group changes in equity
At 1 January 2021, restatedSingapore dollars thousands 418,913–3,6305,901(27,862)(259,345)141,237*141,237 PDF p. 58
Profit/(Loss) for the yearSingapore dollars thousands –––––111,378111,378(429)110,949 PDF p. 58
Foreign currency translation differences relating to foreign operationsSingapore dollars thousands –––(8,819)––(8,819)–(8,819) PDF p. 58
Share of foreign currency translation differences of equity- accounted investeesSingapore dollars thousands –––(3,873)––(3,873)–(3,873) PDF p. 58
Share of fair value reserve of equity- accounted investeesSingapore dollars thousands ––––5,065–5,065–5,065 PDF p. 58
Total other comprehensive income, net of taxSingapore dollars thousands –––(12,692)5,065–(7,627)–(7,627) PDF p. 58
Total comprehensive income for the yearSingapore dollars thousands –––(12,692)5,065111,378103,751(429)103,322 PDF p. 58
recognised directly in equity Issuance of convertible perpetual securitiesSingapore dollars thousands –79,635––––79,635–79,635 PDF p. 58
Total transactions with ownersSingapore dollars thousands –79,635––––79,635–79,635 PDF p. 58
At 31 December 2021Singapore dollars thousands 418,91379,6353,630(6,791)(22,797)(147,967)324,623(429)324,194 PDF p. 58
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows

28 metrics

Units appear below each metric. Scroll to compare years

Group cash flows from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Cash flows from operating activities
Profit after taxSingapore dollars thousands 110,949 PDF p. 58
Adjustments for:
Depreciation of property, plant and equipmentSingapore dollars thousands 882 PDF p. 58
Fair value losses on investment propertiesSingapore dollars thousands – PDF p. 58
Fair value losses on investment properties under developmentSingapore dollars thousands 17,514 PDF p. 58
Net fair value losses of derivative financial instrumentsSingapore dollars thousands – PDF p. 58
Property, plant and equipment written-offSingapore dollars thousands – PDF p. 58
Adjustment on rental straight-liningSingapore dollars thousands – PDF p. 58
Impairment losses on property, plant and equipmentSingapore dollars thousands 2,371 PDF p. 58
Interest incomeSingapore dollars thousands (260) PDF p. 58
Interest expenseSingapore dollars thousands 3,950 PDF p. 58
Net gain from the First REIT transactionSingapore dollars thousands – PDF p. 58
Losses on disposal of quoted sharesSingapore dollars thousands – PDF p. 58
Loss on disposal of a subsidiarySingapore dollars thousands – PDF p. 58
Reversal of provision for site restorationSingapore dollars thousands – PDF p. 58
Reversal of provisions for legal and related expensesSingapore dollars thousands (5,000) PDF p. 58
Reversal of impairment losses of other receivablesSingapore dollars thousands (801) PDF p. 58
Gain on shareholder loan conversionSingapore dollars thousands (109,973) PDF p. 58
Share of results of equity-accounted investees, net of taxSingapore dollars thousands (12,648) PDF p. 58
Manager’s management fees settled in unitsSingapore dollars thousands – PDF p. 58
Tax expense/(credit)Singapore dollars thousands (2,672) PDF p. 58
Trade and other receivables written offSingapore dollars thousands – PDF p. 58
SubtotalSingapore dollars thousands 4,312 PDF p. 58
Changes in:
- InventoriesSingapore dollars thousands (77) PDF p. 58
- Trade and other receivablesSingapore dollars thousands 465 PDF p. 58
- Trade and other payablesSingapore dollars thousands (539) PDF p. 58
Cash generated from operationsSingapore dollars thousands 4,161 PDF p. 58
Tax paidSingapore dollars thousands (70) PDF p. 58
Net cash from operating activitiesSingapore dollars thousands 4,091 PDF p. 58
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows / continued1

29 metrics

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Group cash flows / continued1 from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Cash flows from investing activities
Acquisition of equity-accounted investeesSingapore dollars thousands (32,651) PDF p. 59
Acquisition of investment propertiesSingapore dollars thousands – PDF p. 59
Capital expenditure to investment propertiesSingapore dollars thousands (1,104) PDF p. 59
Acquisition of other investmentSingapore dollars thousands – PDF p. 59
Acquisition of subsidiaries, net of cash acquiredSingapore dollars thousands – PDF p. 59
Capital contribution in equity-accounted investeesSingapore dollars thousands – PDF p. 59
Capital contribution from a fellow subsidiarySingapore dollars thousands – PDF p. 59
Dividends from an equity-accounted investeeSingapore dollars thousands 5,516 PDF p. 59
Fund received from litigationSingapore dollars thousands 4,821 PDF p. 59
Investment in quoted sharesSingapore dollars thousands – PDF p. 59
Disposals of quoted sharesSingapore dollars thousands – PDF p. 59
Net cash inflow from the First REIT transactionSingapore dollars thousands – PDF p. 59
Net cash inflow from disposal of a subsidiarySingapore dollars thousands – PDF p. 59
Loans to joint venturesSingapore dollars thousands (9,103) PDF p. 59
Repayment of loan from joint ventureSingapore dollars thousands 2,925 PDF p. 59
Repayment of advance to joint venture partnerSingapore dollars thousands – PDF p. 59
Interest receivedSingapore dollars thousands 584 PDF p. 59
Purchase of property, plant and equipmentSingapore dollars thousands (954) PDF p. 59
Net cash from/(used in) investing activitiesSingapore dollars thousands (29,966) PDF p. 59
Cash flows from financing activities
Proceeds from borrowingsSingapore dollars thousands 15,000 PDF p. 59
Repayment of borrowingsSingapore dollars thousands (9,194) PDF p. 59
Payment of lease liabilitiesSingapore dollars thousands (665) PDF p. 59
Loan from a fellow subsidiarySingapore dollars thousands – PDF p. 59
Perpetual securities redemption, distribution and gain on redemption, net transaction costs by a subsidiarySingapore dollars thousands – PDF p. 59
Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands – PDF p. 59
Dividend and distribution to unitholders by a subsidiarySingapore dollars thousands – PDF p. 59
Payment of transaction costs related to loans and borrowingsSingapore dollars thousands – PDF p. 59
Interest paidSingapore dollars thousands (3,111) PDF p. 59
Net cash (used in)/from financing activitiesSingapore dollars thousands 2,030 PDF p. 59
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Group cash flows / continued2

4 metrics

Units appear below each metric. Scroll to compare years

Group cash flows / continued2 from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Group cash flows
Net increase/(decrease) in cash and cash equivalentsSingapore dollars thousands (23,845) PDF p. 59
Cash and cash equivalents at beginning of financial yearSingapore dollars thousands 68,973 PDF p. 59
Effect of exchange rate fluctuations on cash and cash equivalentsSingapore dollars thousands (1,305) PDF p. 59
Cash and cash equivalents at end of financial yearSingapore dollars thousands 43,823 PDF p. 59
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Basic EPS profit numerator

1 metrics

Units appear below each metric. Scroll to compare years

Basic EPS profit numerator from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Basic EPS profit numerator
Net profit attributable to owners of the CompanySingapore dollars thousands 111,378 PDF p. 97
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Basic EPS weighted ordinary shares

1 metrics

Units appear below each metric. Scroll to compare years

Basic EPS weighted ordinary shares from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Basic EPS weighted ordinary shares
Weighted average number of ordinary shares during the yearShares thousands 4,443,129 PDF p. 97
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Diluted EPS profit numerator

1 metrics

Units appear below each metric. Scroll to compare years

Diluted EPS profit numerator from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Diluted EPS profit numerator
Net profit attributable to owners of the CompanySingapore dollars thousands 111,378 PDF p. 97
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Diluted EPS weighted ordinary shares and conversion effect

3 metrics

Units appear below each metric. Scroll to compare years

Diluted EPS weighted ordinary shares and conversion effect from ANNUAL REPORT 2025
Metric / unit 2021Group / year1January–31December2021 Source
Diluted EPS weighted ordinary shares and conversion effect
Ordinary share issued at the reporting dateShares thousands 4,443,129 PDF p. 97
Effect of conversion of convertible perpetual securities into ordinary sharesShares thousands 2,159,524 PDF p. 97
Weighted average number of ordinary shares during the yearShares thousands 6,602,653 PDF p. 97
Definitions & sources

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

Where the money comes from

Segment information

By business

Information about reportable segments – Group, 31 December 11 lines
Information about reportable segments – Group, 31 December — Group
Item / unit 2025Healthcare operations2025Healthcare assets2025Properties under development2025Investments2025Others2025Total2024Healthcare operations2024Healthcare assets2024Properties under development2024Investments2024Others2024Total Source
Revenue
External revenue$’000 51,857100,531–––152,38848,066102,211–––150,277 PDF p. 225PDF p. 226
Inter-segment revenue$’000 ––––660660––––933933 PDF p. 225PDF p. 226
Results
Segment profit/(loss) before tax$’000 16642,031(5,412)(1,959)(11,376)23,4503,75449,520(5,045)3,014(10,649)40,594 PDF p. 225PDF p. 226
Depreciation$’000 (2,514)(54)––(380)(2,948)(1,835)(51)––(382)(2,268) PDF p. 225PDF p. 226
Interest expense$’000 (1,643)(20,900)––(1,474)(24,017)(2,994)(22,773)––(2,651)(28,418) PDF p. 225PDF p. 226
Interest income$’000 206269––6353819436222–106684 PDF p. 225PDF p. 226
Loss on disposal of a subsidiary$’000 –(7,535)–––(7,535) PDF p. 225
Assets
Reportable segment assets$’000 173,9571,091,5685,51436,81110,7371,318,587162,7941,164,27710,94836,95823,5401,398,517 PDF p. 225PDF p. 226
Additions to
- Property, plant and equipment$’000 4,729––––4,7292,14574––72,226 PDF p. 225PDF p. 226
- Investment properties$’000 –3,746–––3,746–5,859–––5,859 PDF p. 225PDF p. 226
Liabilities
Reportable segment liabilities$’000 22,371480,6331,213–110,714614,93178,237478,1261,333–53,166610,862 PDF p. 225PDF p. 226
Notes

Blank values mean no segment cell printed; only the Total column is printed for tax liabilities. Total liabilities line printed as 664,654.

Blank values mean only the Total column is printed. Total liabilities line printed as 664,035. Other items (held-for-sale losses, disposal gain, equity-accounted share of results, fair value items) not extracted.

Reconciliations of reportable segment revenue, profit, assets and liabilities – Group 15 lines
Reconciliations of reportable segment revenue, profit, assets and liabilities – Group
Item / unit 2025Group2024Group Source
Revenue
Total revenue for reportable segments$’000 152,388150,277 PDF p. 227
Revenue for other segment$’000 660933 PDF p. 227
Elimination of inter-segment revenue$’000 (660)(933) PDF p. 227
Consolidated total revenue$’000 152,388150,277 PDF p. 227
Profit or loss – Total profit before tax for
- Reportable segments$’000 34,82651,243 PDF p. 227
- Other segment$’000 (11,376)(10,649) PDF p. 227
Profit or loss
Consolidated profit before tax$’000 23,45040,594 PDF p. 227
Assets
Total assets for reportable segments$’000 1,307,8501,374,977 PDF p. 227
Assets for other segments$’000 10,73723,540 PDF p. 227
Consolidated total assets$’000 1,318,5871,398,517 PDF p. 227
Liabilities
Total liabilities for reportable segments$’000 504,217557,696 PDF p. 227
Liabilities for other segments$’000 110,71453,166 PDF p. 227
Liabilities – Other unallocated amounts
- Current tax liabilities$’000 2,6823,290 PDF p. 227
- Deferred tax liabilities$’000 47,04149,883 PDF p. 227
Liabilities
Consolidated total liabilities$’000 664,654664,035 PDF p. 227

By geography

Geographical information – Revenue 4 lines
Geographical information – Revenue
Item / unit 2025Group revenue by geography2024Group revenue by geography Source
Revenue
Japan$’000 13,35413,392 PDF p. 228
PRC$’000 4,1793,875 PDF p. 228
Singapore$’000 51,90948,433 PDF p. 228
Indonesia$’000 82,94684,577 PDF p. 228
Notes

Total row printed without label: 152,388 and 150,277. Major customer: revenues from top two (2024: two) customers of the healthcare assets segment approximately $77,448,000 (2024: $78,772,000).

Geographical information – Non-current assets 7 lines
Geographical information – Non-current assets
Item / unit 2025Group non-current assets by geography2024Group non-current assets by geography Source
Non-current assets
Japan$’000 231,952247,711 PDF p. 228
PRC$’000 38,58044,707 PDF p. 228
Singapore$’000 153,885156,168 PDF p. 228
Myanmar$’000 15,83715,370 PDF p. 228
Indonesia$’000 762,017839,897 PDF p. 228
US$’000 2,5812,697 PDF p. 228
Sri Lanka$’000 232331 PDF p. 228
Notes

Total row printed without label: 1,205,084 and 1,306,881.

* Non-current assets relate to the carrying amounts of property, plant and equipment, intangible assets and goodwill, investment properties, investment properties under development, associate and joint ventures, other investment and trade and other receivables.

Debt

Borrowings

Terms and debt repayment schedule - Company 2025 and 2024

Terms and debt repayment schedule - Company 2025 and 2024
Item / unit 2025Company: Currency; Nominal interest rate; Year of maturity; Face value $'000; Carrying amount $'0002024Company 2024 rows below: same field order Source
Company 2025
Total Company 2025 (unlabelled)$'000 82,50082,277 PDF p. 187
Company 2024
Total Company 2024 (unlabelled)$'000 25,00024,951 PDF p. 187
Notes

Company 2025 also lists Committed term loan A SGD Sora + 1.50% 2027 15,000 14,974 (identical text to Group row). Company 2024: Committed term loan A SGD Sora + 1.50% 2027 15,000 14,951 and Uncommitted RSTL SGD Sora + 1.50% 2025 10,000 10,000.

* Annual installment with final installment in 2030 (applies to Group rows).

Borrowing notes 2 tables

Loans and borrowings - Current

Loans and borrowings - Current
Item / unit 2025Group, $'0002024Group, $'0002025Company, $'0002024Company, $'000 Source
Current
Secured Tokutei Mokuteki Kaisha (“TMK”) Bonds B and Term loan C$'000 830880–– PDF p. 182
Social term loan A$'000 246,123––– PDF p. 182
Social term loan B$'000 13,728––– PDF p. 182
Secured term loan A$'000 –56,855–– PDF p. 182
Uncommitted revolving short-term loan (“RSTL”)$'000 –10,000–10,000 PDF p. 182
Total current loans and borrowings (unlabelled subtotal)$'000 260,68167,735–10,000 PDF p. 182
Notes

Subtotal row has no printed label. RSTL label wraps over two lines; values row is '– 10,000 – 10,000' after the '(“RSTL”)' line.

Loans and borrowings - Non-current and total

Loans and borrowings - Non-current and total
Item / unit 2025Group, $'0002024Group, $'0002025Company, $'0002024Company, $'000 Source
Non-current
Secured TMK Bonds B and Term loan C$'000 95,410101,722–– PDF p. 183
Guaranteed bonds$'000 98,75797,762–– PDF p. 183
Social term loan A$'000 –238,632–– PDF p. 183
Social term loan B$'000 –14,486–– PDF p. 183
Secured term loan B$'000 59,846–59,846– PDF p. 183
Committed term loan A$'000 14,974–14,974– PDF p. 183
Committed term loan B$'000 7,45714,9517,45714,951 PDF p. 183
Total non-current loans and borrowings (unlabelled subtotal)$'000 276,444467,55382,27714,951 PDF p. 183
Total
Total loans and borrowings$'000 537,125535,28882,27724,951 PDF p. 183
Notes

Total borrowings include secured liabilities of $537,125,000 (2024: $535,288,000) and $82,277,000 (2024: $24,951,000) of the Group and the Company respectively.

Social term loan A drawn $247 million (2024: $241 million), repayable in May 2026, floating rates repriced at intervals of 3 months or less. Guaranteed bonds $100 million 3.25% due April 2027. TMK Bonds B (JPY2 billion) and Term loan C (JPY9.75 billion outstanding) due June 2030. Social term loan B due 27 September 2026.

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Dividend Policy The Company has adopted a dividend policy, under which the Board would consider the Group’s earnings, financial position, results of operations, capital needs, plans for expansion and any other appropriate factors before deciding on the form, frequency and amount of dividends to declare. Company FY2025 PDF p. 110

Dividends declared and proposed

ItemValuePeriod / scopeSource
No dividend for FY2025 no dividend was recommended or declared for FY2025 Company FY2025 PDF p. 110

Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

ItemValuePeriod / scopeSource
Audit firm KPMG LLP Group PDF p. 120
Engagement partner Ong Li Qin Group PDF p. 120
Opinion properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)s”) so as to give a true and fair view Group and Company PDF p. 116

Key audit matters

ItemValuePeriod / scopeSource
Valuation of investment properties and investment properties under development These investment properties and investment properties under development are stated at fair value based on independent external valuations. Group PDF p. 116
Impairment assessment of investments in associate and joint ventures Equity-accounted investments are tested for impairment when there are indicators of a possible impairment. Group PDF p. 117

Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow ANNUAL REPORT 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.

Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.

Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.

Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.

First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.

Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.

FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.

Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.