OUEREIT TS0U

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Financials

OUE REIT Annual Report 2025

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104 tables

Statements of Financial Position — assets and liabilities

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Statements of Financial Position — assets and liabilities from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Non-current assets
Plant and equipment$’000 67107–– PDF p. 105
Investment properties$’000 5,105,6325,169,536930,000930,000 PDF p. 105
Investments in subsidiaries$’000 ––2,355,5512,639,743 PDF p. 105
Investment in joint venture$’000 334,941376,336285,007319,291 PDF p. 105
Financial derivatives$’000 –2,200–119 PDF p. 105
Trade and other receivables$’000 4,4734,438–– PDF p. 105
Loans to a subsidiary$’000 ––886,600585,600 PDF p. 105
Subtotal$’000 5,445,1135,552,6174,457,1584,474,753 PDF p. 105
Current assets
Trade and other receivables$’000 21,78425,61412,34515,134 PDF p. 105
Cash and cash equivalents$’000 103,316361,67086,1482,580 PDF p. 105
Subtotal$’000 125,100387,28498,49317,714 PDF p. 105
Total
Total assets$’000 5,570,2135,939,9014,555,6514,492,467 PDF p. 105
Non-current liabilities
Loans and borrowings$’000 1,592,8811,984,3701,276,1601,272,803 PDF p. 105
Trade and other payables$’000 30,37729,4166,5406,411 PDF p. 105
Financial derivatives$’000 10,2432,3523,5131,371 PDF p. 105
Deferred tax liabilities$’000 16,94816,721–– PDF p. 105
Lease liability$’000 22,50322,612–– PDF p. 105
Subtotal$’000 1,672,9522,055,4711,286,2131,280,585 PDF p. 105
Current liabilities
Loans and borrowings$’000 249,650115,265149,844105,265 PDF p. 105
Trade and other payables$’000 68,24971,59428,76727,619 PDF p. 105
Financial derivatives$’000 3,7471671,943167 PDF p. 105
Current tax liabilities$’000 11,08040,046520– PDF p. 105
Lease liability$’000 109104–– PDF p. 105
Subtotal$’000 332,835227,176181,074133,051 PDF p. 105
Total
Total liabilities$’000 2,005,7872,282,6471,467,2871,413,636 PDF p. 105
Net assets$’000 3,564,4263,657,2543,088,3643,078,831 PDF p. 105
Definitions & sources

Original report: PDF p. 105 ↗

Statement title: “STATEMENTS OF FINANCIAL POSITION”; “As at 31 December 2025”. The accompanying notes form an integral part of these financial statements.

Statements of Financial Position — funds, units and NAV

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Statements of Financial Position — funds, units and NAV from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Represented by
Unitholders’ funds$’000 3,092,9203,187,3012,876,0552,866,525 PDF p. 106
Convertible Perpetual Preferred Units (“CPPU”) holder’s funds$’000 212,309212,306212,309212,306 PDF p. 106
Subtotal$’000 3,305,2293,399,6073,088,3643,078,831 PDF p. 106
Non-controlling interests$’000 259,197257,647–– PDF p. 106
Subtotal$’000 3,564,4263,657,2543,088,3643,078,831 PDF p. 106
Units in issue and to be issued (’000)’000 Units 5,524,6175,500,0645,524,6175,500,064 PDF p. 106
Net asset value per Unit ($)$ per Unit 0.560.580.520.52 PDF p. 106
Definitions & sources

Original report: PDF p. 106 ↗

Statement title: “STATEMENTS OF FINANCIAL POSITION”; “As at 31 December 2025”. No separate monetary unit header is printed on this continuation page; monetary rows use the $’000 unit printed on the preceding statement page. Units in issue are presented as ’000, and NAV per Unit in dollars. The accompanying notes form an integral part of these financial statements.

Statements of Total Return

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Statements of Total Return from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Total return
Revenue$’000 273,611295,521267,584161,789 PDF p. 107
Property operating expenses$’000 (54,032)(61,486)(10,837)(10,750) PDF p. 107
Net property income$’000 219,579234,035256,747151,039 PDF p. 107
Manager’s management fees$’000 (16,712)(16,084)(16,712)(16,084) PDF p. 107
Trustee’s fee$’000 (942)(971)(942)(971) PDF p. 107
Other expenses$’000 (1,834)(1,427)(1,845)(1,004) PDF p. 107
Finance income$’000 7,43777428,0629,405 PDF p. 107
Finance cost$’000 (87,769)(106,546)(58,382)(47,597) PDF p. 107
Net finance costs$’000 (80,332)(105,772)(30,320)(38,192) PDF p. 107
Net income$’000 119,759109,781206,92894,788 PDF p. 107
Foreign exchange (loss)/gain$’000 (8,428)(2,351)3,931(3) PDF p. 107
Net change in fair value of financial derivatives$’000 (1,495)(7,814)(479)(3,514) PDF p. 107
Ineffective portion of changes in fair value of cash flow hedges$’000 (509)2,8811,131438 PDF p. 107
Share of results from joint venture$’000 6,39830,484–– PDF p. 107
Net change in fair value of investment properties$’000 (75,826)(153,570)(5,450)(2,292) PDF p. 107
Loss on disposal of a subsidiary$’000 (3,649)(26,427)–– PDF p. 107
Impairment loss on investment in subsidiaries$’000 ––(80,674)(43,663) PDF p. 107
Total return/(loss) for the year before tax$’000 36,250(47,016)125,38745,754 PDF p. 107
Tax credit/(expense)$’000 353(11,892)(520)– PDF p. 107
Total return/(loss) for the year$’000 36,603(58,908)124,86745,754 PDF p. 107
Attribution
Total return/(loss) attributable to Unitholders and CPPU holder$’000 28,451(68,321)124,86745,754 PDF p. 107
Non-controlling interests$’000 8,1529,413–– PDF p. 107
Subtotal$’000 36,603(58,908)124,86745,754 PDF p. 107
Definitions & sources

Original report: PDF p. 107 ↗

The statement is titled “STATEMENTS OF TOTAL RETURN” and covers the “Year ended 31 December 2025”. Its accompanying notes form an integral part of these financial statements.

Earnings per Unit

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Earnings per Unit from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group Source
Earnings per Unit
Basiccents per Unit 0.48(1.28) PDF p. 107
Dilutedcents per Unit 0.48(1.28) PDF p. 107
Definitions & sources

Original report: PDF p. 107 ↗

The statement prints Earnings per Unit (cents) for Group only; no Trust values are printed.

Consolidated Statement of Cash Flows — Group

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Consolidated Statement of Cash Flows — Group from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group Source
Cash flows from operating activities
Total return/(loss) for the year$’000 36,603(58,908) PDF p. 120
Adjustments for operating activities
Depreciation of plant and equipment$’000 5161 PDF p. 120
Finance income$’000 (7,437)(774) PDF p. 120
Finance costs$’000 87,769106,546 PDF p. 120
Foreign exchange loss$’000 8,4282,351 PDF p. 120
Net change in fair value of financial derivatives$’000 1,4957,814 PDF p. 120
Ineffective portion of changes in fair value of cash flow hedges$’000 509(2,881) PDF p. 120
Manager’s fees paid/payable in Units$’000 7,7361,977 PDF p. 120
Share of results from joint venture$’000 (6,398)(30,484) PDF p. 120
Net change in fair value of investment properties$’000 75,826153,570 PDF p. 120
Loss on disposal of a subsidiary$’000 3,64926,427 PDF p. 120
Allowance for doubtful receivables$’000 52412 PDF p. 120
Tax (credit)/expense$’000 (353)11,892 PDF p. 120
Cash flows from operating activities
Operating income before working capital changes$’000 207,930218,003 PDF p. 120
Changes in operating assets and liabilities
Trade and other receivables$’000 1,1361,588 PDF p. 120
Trade and other payables$’000 (10,345)(7,265) PDF p. 120
Cash flows from operating activities
Cash generated from operations$’000 198,721212,326 PDF p. 120
Tax paid$’000 (28,392)(11,750) PDF p. 120
Net cash from operating activities$’000 170,329200,576 PDF p. 120
Cash flows from investing activities
Additions to plant and equipment$’000 (36)(3) PDF p. 120
Payment for capital expenditure on investment properties$’000 (14,036)(25,829) PDF p. 120
Payment of capital expenditure for joint venture$’000 (7,816)(2,414) PDF p. 120
Proceed from return of capital from joint venture$’000 42,100– PDF p. 120
Dividends received from joint venture$’000 12,7749,031 PDF p. 120
Disposal of a subsidiary, net of cash disposed$’000 –299,460 PDF p. 120
Interest received$’000 7,5132,803 PDF p. 120
Net cash from investing activities$’000 40,499283,048 PDF p. 120
Cash flows from financing activities
Distributions paid to Unitholders$’000 (116,184)(108,211) PDF p. 120
Distributions paid to CPPU holder$’000 (2,197)(2,203) PDF p. 120
Distributions paid to non-controlling interests$’000 (6,400)(6,400) PDF p. 120
Proceeds from issuance of unsecured notes$’000 150,000550,857 PDF p. 120
Proceeds from bank loans$’000 382,000568,750 PDF p. 120
Redemption of unsecured notes$’000 (100,000)– PDF p. 120
Repayment of bank loans$’000 (692,500)(1,073,250) PDF p. 120
Payment of transaction costs related to borrowings$’000 (1,975)(10,918) PDF p. 120
Payment of lease liability$’000 (1,020)(1,020) PDF p. 120
Interest paid$’000 (80,781)(93,293) PDF p. 120
Net cash used in financing activities$’000 (469,057)(175,688) PDF p. 120
Cash and cash equivalents reconciliation
Net (decrease)/increase in cash and cash equivalents$’000 (258,229)307,936 PDF p. 121
Cash and cash equivalents at beginning of the year$’000 361,67054,225 PDF p. 121
Effect of exchange rate fluctuations on cash held$’000 (125)(491) PDF p. 121
Cash and cash equivalents at end of the year$’000 103,316361,670 PDF p. 121
Definitions & sources

Original report: PDF p. 120 ↗ PDF p. 121 ↗

Footnote A, Significant non-cash transactions: “A total of 24,553,143 Units, amounting to $7,736,000, were or would be issued to the Manager in satisfaction of the Manager’s management fees for the financial year ended 31 December 2025.” “A total of 7,114,108 Units, amounting to $1,977,000, were issued to the Manager in January 2025 in satisfaction of the Manager’s management fees for the financial year ended 31 December 2024.”

Footnote B: On 20 December 2024 the Group announced divestment of 100% issued and paid-up capital of Lippo Realty (Shanghai) Limited through Tecwell Pte. Ltd.; sale completed 27 December 2024. Reported disposal details include RMB 1,916,925,000 consideration (approximately $357,382,000), net cash inflow on disposal $299,460 thousand, and related disposed assets/liabilities and tax/costs as shown on physical page 121.

Statements of Movements in Unitholders’ Funds — Group, year ended 31 December 2025

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Statements of Movements in Unitholders’ Funds — Group, year ended 31 December 2025 from OUE REIT Annual Report 2025
Metric / unit 2025Group; Unitholders2025Group; CPPU holder2025Group; Total attributable to owners2025Group; Non-controlling interests2025Group; Total Source
Group; opening balance
Net assets attributable to owners at 1 January 2025$’000 3,187,301212,3063,399,607257,6473,657,254 PDF p. 110
Group; Operations
Total return for the year$’000 28,451–28,4518,15236,603 PDF p. 110
Less: Amount reserved for distribution to CPPU holder$’000 (2,200)2,200––– PDF p. 110
Net increase in net assets resulting from operations$’000 26,2512,20028,4518,15236,603 PDF p. 110
Group; Transactions with owners; Issue of new Units
Manager’s management fees paid/payable in Units$’000 7,736–7,736–7,736 PDF p. 110
Group; Transactions with owners
Distributions paid to Unitholders$’000 (116,184)–(116,184)–(116,184) PDF p. 110
Distributions paid to CPPU holder$’000 –(2,197)(2,197)–(2,197) PDF p. 110
Distributions paid to non-controlling interests$’000 –––(6,400)(6,400) PDF p. 110
Net decrease in net assets resulting from transactions with owners$’000 (108,448)(2,197)(110,645)(6,400)(117,045) PDF p. 110
Group; foreign currency translation reserve
Net movement in foreign currency translation reserve$’000 14–14–14 PDF p. 110
Group; Hedging transactions
Effective portion of change in fair value of cash flow hedges$’000 (16,551)–(16,551)–(16,551) PDF p. 110
Hedging reserve transferred to statements of total return$’000 5,088–5,088(202)4,886 PDF p. 110
Share of movement in hedging reserve of joint venture$’000 (735)–(735)–(735) PDF p. 110
Net movement in hedging transactions$’000 (12,198)–(12,198)(202)(12,400) PDF p. 110
Group; closing balance
At 31 December 2025$’000 3,092,920212,3093,305,229259,1973,564,426 PDF p. 110
Definitions & sources

Original report: PDF p. 110 ↗

The report presents a statement of movements in unitholders’ funds with group attribution columns, including non-controlling interests. The accompanying notes form an integral part of the financial statements.

Statements of Movements in Unitholders’ Funds — Group, comparative year ended 31 December 2024

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Statements of Movements in Unitholders’ Funds — Group, comparative year ended 31 December 2024 from OUE REIT Annual Report 2025
Metric / unit 2024Group; Unitholders2024Group; CPPU holder2024Group; Total attributable to owners2024Group; Non-controlling interests2024Group; Total Source
Group; opening balance
Net assets attributable to owners at 1 January 2024$’000 3,311,192212,3093,523,501254,5293,778,030 PDF p. 111
Group; Operations
Total (loss)/return for the year$’000 (68,321)–(68,321)9,413(58,908) PDF p. 111
Less: Amount reserved for distribution to CPPU holder$’000 (2,200)2,200––– PDF p. 111
Net (decrease)/increase in net assets resulting from operations$’000 (70,521)2,200(68,321)9,413(58,908) PDF p. 111
Group; Transactions with owners; Issue of new Units
Manager’s management fees payable in Units$’000 1,977–1,977–1,977 PDF p. 111
Group; Transactions with owners
Distributions paid to Unitholders$’000 (108,211)–(108,211)–(108,211) PDF p. 111
Distributions paid to CPPU holder$’000 –(2,203)(2,203)–(2,203) PDF p. 111
Distributions paid to non-controlling interests$’000 –––(6,400)(6,400) PDF p. 111
Net decrease in net assets resulting from transactions with owners$’000 (106,234)(2,203)(108,437)(6,400)(114,837) PDF p. 111
Group; Foreign currency translation reserve; Foreign operations
Currency translation differences$’000 (3,990)–(3,990)–(3,990) PDF p. 111
Currency translation differences reclassified to statements of total return on disposal$’000 54,614–54,614–54,614 PDF p. 111
Group; Foreign currency translation reserve
Net movement in foreign currency translation reserve$’000 50,624–50,624–50,624 PDF p. 111
Group; Hedging transactions
Effective portion of change in fair value of cash flow hedges$’000 6,626–6,626–6,626 PDF p. 111
Hedging reserve transferred to statements of total return$’000 (3,136)–(3,136)105(3,031) PDF p. 111
Share of movement in hedging reserve of joint venture$’000 (1,250)–(1,250)–(1,250) PDF p. 111
Net movement in hedging transactions$’000 2,240–2,2401052,345 PDF p. 111
Group; closing balance
At 31 December 2024$’000 3,187,301212,3063,399,607257,6473,657,254 PDF p. 111
Definitions & sources

Original report: PDF p. 111 ↗

The report provides the 2024 comparative movements in a separate continuation page under the same statement headings and column structure. The accompanying notes form an integral part of the financial statements.

Statements of Movements in Unitholders’ Funds — Trust, year ended 31 December 2025

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Statements of Movements in Unitholders’ Funds — Trust, year ended 31 December 2025 from OUE REIT Annual Report 2025
Metric / unit 2025Trust; Unitholders2025Trust; CPPU holder2025Trust; Total Source
Trust; opening balance
Net assets attributable to owners at 1 January 2025$’000 2,866,525212,3063,078,831 PDF p. 112
Trust; Operations
Total return for the year$’000 124,867–124,867 PDF p. 112
Less: Amount reserved for distribution to CPPU holder$’000 (2,200)2,200– PDF p. 112
Net increase in net assets resulting from operations$’000 122,6672,200124,867 PDF p. 112
Trust; Transactions with owners; Issue of new Units
Manager’s management fees paid/payable in Units$’000 7,736–7,736 PDF p. 112
Trust; Transactions with owners
Distributions paid to Unitholders$’000 (116,184)–(116,184) PDF p. 112
Distributions paid to CPPU holder$’000 –(2,197)(2,197) PDF p. 112
Net decrease in net assets resulting from transactions with owners$’000 (108,448)(2,197)(110,645) PDF p. 112
Trust; Hedging transactions
Effective portion of change in fair value of cash flow hedges$’000 (6,616)–(6,616) PDF p. 112
Hedging reserve transferred to statements of total return$’000 1,927–1,927 PDF p. 112
Net movement in hedging transactions$’000 (4,689)–(4,689) PDF p. 112
Trust; closing balance
At 31 December 2025$’000 2,876,055212,3093,088,364 PDF p. 112
Definitions & sources

Original report: PDF p. 112 ↗

The Trust column is labelled Trust in the statement. The accompanying notes form an integral part of the financial statements.

Historical financial and distribution highlights

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Historical financial and distribution highlights from OUE REIT Annual Report 2025
Metric / unit 2016FY 20162017FY 20172018FY 20182019FY 20192020FY 20202021FY 20212022FY 20222023FY 20232024FY 20242025FY 2025 Source
Revenue
RevenueS$ million 177.8176.3176.4257.3292.0249.9241.5285.1295.5273.6 PDF p. 7
Net Property Income
Net Property IncomeS$ million 138.6138.2138.2205.0231.9204.2196.9235.0234.0219.6 PDF p. 7
Amount to be Distributed
Amount to be DistributedS$ million 67.470.071.3123.2132.8142.0116.2115.3113.7123.8 PDF p. 7
Total Assets
Total AssetsS$ billion 3.63.64.66.96.85.86.06.15.95.6 PDF p. 7
Definitions & sources

Original report: PDF p. 7 ↗

The report prints chart values rounded to one decimal place. Each chart labels its unit and years separately from its value row. CAGR labels are also printed but are not annual-period figures: Revenue 12.2%, Net Property Income 12.9%, Amount to be Distributed 8.7%, and Total Assets 11.5%, each described as “CAGR since IPO.”

Financial Results — monetary values

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Financial Results — monetary values from OUE REIT Annual Report 2025
Metric / unit 2025FY 20252024FY 2024 Source
Financial Results
RevenueS$'000 273,611295,521 PDF p. 32
Like-for-like Revenue 1S$'000 273,611273,267 PDF p. 32
Net Property IncomeS$'000 219,579234,035 PDF p. 32
Like-for-like Net Property Income 1S$'000 219,579216,134 PDF p. 32
Finance CostsS$'000 (87,769)(106,546) PDF p. 32
Share of Joint Venture Results of OUE Bayfront 2S$'000 14,4609,684 PDF p. 32
Amount Available for Distribution 6S$'000 123,752108,660 PDF p. 32
Amount to be DistributedS$'000 123,752113,660 PDF p. 32
Definitions & sources

Original report: PDF p. 32 ↗

1: Excludes Lippo Plaza Shanghai which was divested in December 2024. 2: Excluding the distribution adjustments, share of results from joint venture would be S$6.4 million and S$30.5 million for FY 2025 and FY 2024 respectively. 3: FY 2024 DPU includes the release of S$5.0 million of capital distribution from the 50% divestment of OUE Bayfront. 6: Net of working capital requirements of S$5.0 million in FY 2024 and FY 2025 respectively.

The change column is printed as a percentage. The DPU row's printed change value is 8.3, and the amount-to-be-distributed row's printed FY 2024 value carries footnote marker 3.

Financial Results — percentage changes

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Financial Results — percentage changes from OUE REIT Annual Report 2025
Metric / unit 2025Change (%), FY 2025 vs FY 2024 Source
Financial Results
Revenue% (7.4) PDF p. 32
Like-for-like Revenue 1% 0.1 PDF p. 32
Net Property Income% (6.2) PDF p. 32
Like-for-like Net Property Income 1% 1.6 PDF p. 32
Finance Costs% (17.6) PDF p. 32
Share of Joint Venture Results of OUE Bayfront 2% 49.3 PDF p. 32
Amount Available for Distribution 6% 13.9 PDF p. 32
Amount to be Distributed% 8.9 PDF p. 32
Definitions & sources

Original report: PDF p. 32 ↗

1: Excludes Lippo Plaza Shanghai which was divested in December 2024. 2: Excluding the distribution adjustments, share of results from joint venture would be S$6.4 million and S$30.5 million for FY 2025 and FY 2024 respectively. 3: FY 2024 DPU includes the release of S$5.0 million of capital distribution from the 50% divestment of OUE Bayfront. 6: Net of working capital requirements of S$5.0 million in FY 2024 and FY 2025 respectively.

The change column is printed as a percentage. The DPU row's printed change value is 8.3, and the amount-to-be-distributed row's printed FY 2024 value carries footnote marker 3.

Financial Results — DPU

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Financial Results — DPU from OUE REIT Annual Report 2025
Metric / unit 2025FY 20252024FY 2024 Source
Financial Results
DPU (cents)cents 2.232.06 PDF p. 32
Definitions & sources

Original report: PDF p. 32 ↗

1: Excludes Lippo Plaza Shanghai which was divested in December 2024. 2: Excluding the distribution adjustments, share of results from joint venture would be S$6.4 million and S$30.5 million for FY 2025 and FY 2024 respectively. 3: FY 2024 DPU includes the release of S$5.0 million of capital distribution from the 50% divestment of OUE Bayfront. 6: Net of working capital requirements of S$5.0 million in FY 2024 and FY 2025 respectively.

The change column is printed as a percentage. The DPU row's printed change value is 8.3, and the amount-to-be-distributed row's printed FY 2024 value carries footnote marker 3.

Financial Results — DPU change

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Financial Results — DPU change from OUE REIT Annual Report 2025
Metric / unit 2025Change (%), FY 2025 vs FY 2024 Source
Financial Results
DPU (cents)% 8.3 PDF p. 32
Definitions & sources

Original report: PDF p. 32 ↗

1: Excludes Lippo Plaza Shanghai which was divested in December 2024. 2: Excluding the distribution adjustments, share of results from joint venture would be S$6.4 million and S$30.5 million for FY 2025 and FY 2024 respectively. 3: FY 2024 DPU includes the release of S$5.0 million of capital distribution from the 50% divestment of OUE Bayfront. 6: Net of working capital requirements of S$5.0 million in FY 2024 and FY 2025 respectively.

The change column is printed as a percentage. The DPU row's printed change value is 8.3, and the amount-to-be-distributed row's printed FY 2024 value carries footnote marker 3.

Capital Management Indicators

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Capital Management Indicators from OUE REIT Annual Report 2025
Metric / unit 2025As of 31 December 2025 Source
Capital Management Indicators
Aggregate Leverage% 38.5 PDF p. 41
Total Debt 1S$ million 2,168 PDF p. 41
Weighted Average Cost of Debt% p.a. 3.9 PDF p. 41
Weighted Average Term of Debtyears 3.3 PDF p. 41
Proportion of Fixed Rate Debt% 79.2 PDF p. 41
Proportion of Unsecured Debt% 83.0 PDF p. 41
Proportion of Unencumbered Assets% 87.0 PDF p. 41
Proportion of Green Financing% 83.0 PDF p. 41
Interest Coverage Ratio (“ICR") 2times 2.4 PDF p. 41
ICR Sensitivity 2
10% decrease in EBITDAtimes 2.2x PDF p. 41
100bps increase in weighted average interest ratetimes 1.9x PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

1: Includes OUE REIT’s share of OUB Centre Limited’s loan and OUE Allianz Bayfront LLP's loan. 2: As prescribed under Appendix 6 of the Monetary Authority of Singapore’s Code on Collective Investment Schemes (last revised on 28 November 2025). 3: Based on hedged and unhedged debts and perpetual securities. The interest cover ratio, excluding distribution on perpetual securities, is 1.9x assuming a 100bps increase in interest costs on hedged and unhedged debts.

The accompanying narrative states that the interest coverage ratio calculated according to MAS guidelines improved to 2.4x.

Distribution Statements — main schedule

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Distribution Statements — main schedule from OUE REIT Annual Report 2025
Metric / unit 2025Group FY20252024Group FY20242025Trust FY20252024Trust FY2024 Source
Distribution statement
Amount available for distribution to Unitholders at beginning of the year$’000 66,26260,81366,26260,813 PDF p. 108
Total return/(loss) for the year attributable to Unitholders and CPPU holder$’000 28,451(68,321)124,86745,754 PDF p. 108
Less: Amount reserved for distribution to CPPU holder$’000 (2,200)(2,200)(2,200)(2,200) PDF p. 108
Less: Amount retained for working capital requirements$’000 (5,000)(5,000)(5,000)(5,000) PDF p. 108
Distribution adjustments (Note A)$’000 102,501184,1816,08570,106 PDF p. 108
Amount available for distribution for the year$’000 123,752108,660123,752108,660 PDF p. 108
Add: Amount released*$’000 –5,000–5,000 PDF p. 108
Amount to be distributed to Unitholders (Note B)$’000 123,752113,660123,752113,660 PDF p. 108
Amount available for distribution to Unitholders$’000 190,014174,473190,014174,473 PDF p. 108
- Distribution of 1.04 cents per Unit for the period from 1/7/2023 to 31/12/2023$’000 –(57,126)–(57,126) PDF p. 108
- Distribution of 0.93 cents per Unit for the period from 1/1/2024 to 30/06/2024$’000 –(51,085)–(51,085) PDF p. 108
- Distribution of 1.13 cents per Unit for the period from 1/7/2024 to 31/12/2024$’000 (62,151)–(62,151)– PDF p. 108
- Distribution of 0.98 cents per Unit for the period from 1/1/2025 to 30/06/2025$’000 (54,033)–(54,033)– PDF p. 108
Subtotal: distributions to Unitholders$’000 (116,184)(108,211)(116,184)(108,211) PDF p. 108
Amount available for distribution to Unitholders at the end of the year$’000 73,83066,26273,83066,262 PDF p. 108
Distribution per Unit (“DPU”) (cents)cents 2.232.062.232.06 PDF p. 108
Definitions & sources

Original report: PDF p. 108 ↗

The FY2024 amount to be distributed and DPU include a footnote marker 3 in the text layer; marker/value separation is pending source geometry review.

Distribution Statements — Note A adjustments

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Distribution Statements — Note A adjustments from OUE REIT Annual Report 2025
Metric / unit 2025Group FY20252024Group FY20242025Trust FY20252024Trust FY2024 Source
Note A — Distribution adjustments
Straight-lining of lease incentives$’000 1,4273,473(406)4 PDF p. 109
Manager’s management fees paid/payable in Units$’000 7,7361,9777,7361,977 PDF p. 109
Trustee’s fee$’000 942971942971 PDF p. 109
Amortisation of debt-related transaction costs$’000 5,3719,0773,4054,690 PDF p. 109
Foreign exchange loss/(gain)$’000 8,4282,351(3,931)3 PDF p. 109
Net change in fair value of financial derivatives$’000 1,4957,8144793,514 PDF p. 109
Ineffective portion of changes in fair value of cash flow hedges$’000 509(2,881)(1,131)(438) PDF p. 109
Net change in fair value of investment properties$’000 75,826153,5705,4502,292 PDF p. 109
Loss on disposal of a subsidiary$’000 3,64926,427–– PDF p. 109
Withholding tax relating to disposal$’000 (11,588)32,323–– PDF p. 109
Deferred tax credit$’000 227(32,851)–– PDF p. 109
Transfer to statutory reserve$’000 (190)(1,049)–– PDF p. 109
Net income of subsidiaries and joint venture not distributed to the Trust$’000 ––(87,670)12,411 PDF p. 109
Impairment loss on investment in subsidiaries$’000 ––80,67443,663 PDF p. 109
Other items$’000 8,669(17,021)5371,019 PDF p. 109
Distribution adjustments$’000 102,501184,1816,08570,106 PDF p. 109
Definitions & sources

Original report: PDF p. 109 ↗

Distribution Statements — Note B composition

4 metrics

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Distribution Statements — Note B composition from OUE REIT Annual Report 2025
Metric / unit 2025Group and Trust FY20252024Group and Trust FY2024 Source
Note B — Amount to be distributed
- From operations$’000 94,34980,984 PDF p. 109
- From tax exempt income$’000 29,40318,226 PDF p. 109
- From Unitholders’ contribution$’000 –14,450 PDF p. 109
Amount to be distributed to Unitholders$’000 123,752113,660 PDF p. 109
Definitions & sources

Original report: PDF p. 109 ↗

Statements of Movements in Unitholders’ Funds — Trust, comparative year ended 31 December 2024

12 metrics

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Statements of Movements in Unitholders’ Funds — Trust, comparative year ended 31 December 2024 from OUE REIT Annual Report 2025
Metric / unit 2024Trust; Unitholders2024Trust; CPPU holder2024Trust; Total Source
Trust funds movement, FY2024
Net assets attributable to owners at 1 January 2024$’000 2,927,603212,3093,139,912 PDF p. 113
Total return for the year$’000 45,754–45,754 PDF p. 113
Less: Amount reserved for distribution to CPPU holder$’000 (2,200)2,200– PDF p. 113
Net increase in net assets resulting from operations$’000 43,5542,20045,754 PDF p. 113
- Manager’s management fees payable in Units$’000 1,977–1,977 PDF p. 113
Distributions paid to Unitholders$’000 (108,211)–(108,211) PDF p. 113
Distributions paid to CPPU holder$’000 –(2,203)(2,203) PDF p. 113
Net decrease in net assets resulting from transactions with owners$’000 (106,234)(2,203)(108,437) PDF p. 113
Effective portion of change in fair value of cash flow hedges$’000 2,419–2,419 PDF p. 113
Hedging reserve transferred to statements of total return$’000 (817)–(817) PDF p. 113
Net movement in hedging transactions$’000 1,602–1,602 PDF p. 113
Net assets attributable to owners at 31 December 2024$’000 2,866,525212,3063,078,831 PDF p. 113
Definitions & sources

Original report: PDF p. 113 ↗

Portfolio Statements — Group — carrying value

12 metrics

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Portfolio Statements — Group — carrying value from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group Source
Portfolio statements — Group — carrying value
OUE Downtown Office$’000 930,000930,000 PDF p. 115
One Raffles Place$’000 1,930,0001,926,300 PDF p. 115
Crowne Plaza Changi Airport$’000 511,000520,000 PDF p. 117
Hilton Singapore Orchard$’000 1,273,0001,318,500 PDF p. 117
Mandarin Gallery$’000 438,000451,000 PDF p. 117
Investment properties, at valuation$’000 5,082,0005,145,800 PDF p. 117
Investment in joint venture$’000 334,941376,336 PDF p. 117
Other assets and liabilities (net)$’000 (1,852,515)(1,864,882) PDF p. 117
Net assets of the Group$’000 3,564,4263,657,254 PDF p. 117
Net assets attributable to CPPU holder$’000 (212,309)(212,306) PDF p. 117
Net assets attributable to non-controlling interests$’000 (259,197)(257,647) PDF p. 117
Unitholders’ funds$’000 3,092,9203,187,301 PDF p. 117
Definitions & sources

Original report: PDF p. 115 ↗ PDF p. 117 ↗

Description/name and numerical columns are printed on facing/continuation physical pages; see portfolio-row-geometry.json for separate source-cell and source-label bindings.

Portfolio Statements — Group — percentage of Unitholders’ funds

12 metrics

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Portfolio Statements — Group — percentage of Unitholders’ funds from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group Source
Portfolio statements — Group — percentage
OUE Downtown Office% 3030 PDF p. 115
One Raffles Place% 6261 PDF p. 115
Crowne Plaza Changi Airport% 1716 PDF p. 117
Hilton Singapore Orchard% 4141 PDF p. 117
Mandarin Gallery% 1414 PDF p. 117
Investment properties, at valuation% 164162 PDF p. 117
Investment in joint venture% 1112 PDF p. 117
Other assets and liabilities (net)% (60)(59) PDF p. 117
Net assets of the Group% 115115 PDF p. 117
Net assets attributable to CPPU holder% (7)(7) PDF p. 117
Net assets attributable to non-controlling interests% (8)(8) PDF p. 117
Unitholders’ funds% 100100 PDF p. 117
Definitions & sources

Original report: PDF p. 115 ↗ PDF p. 117 ↗

Description/name and numerical columns are printed on facing/continuation physical pages; see portfolio-row-geometry.json for separate source-cell and source-label bindings.

Portfolio Statements — Trust — carrying value

7 metrics

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Portfolio Statements — Trust — carrying value from OUE REIT Annual Report 2025
Metric / unit 2025Trust2024Trust Source
Portfolio statements — Trust — carrying value
OUE Downtown Office$’000 930,000930,000 PDF p. 119
Investment properties, at valuation$’000 930,000930,000 PDF p. 119
Investment in joint venture$’000 285,007319,291 PDF p. 119
Other assets and liabilities (net)$’000 1,873,3571,829,540 PDF p. 119
Net assets of the Trust$’000 3,088,3643,078,831 PDF p. 119
Net assets attributable to CPPU holder$’000 (212,309)(212,306) PDF p. 119
Unitholders’ funds$’000 2,876,0552,866,525 PDF p. 119
Definitions & sources

Original report: PDF p. 119 ↗

Description/name and numerical columns are printed on facing/continuation physical pages; see portfolio-row-geometry.json for separate source-cell and source-label bindings.

Portfolio Statements — Trust — percentage of Unitholders’ funds

7 metrics

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Portfolio Statements — Trust — percentage of Unitholders’ funds from OUE REIT Annual Report 2025
Metric / unit 2025Trust2024Trust Source
Portfolio statements — Trust — percentage
OUE Downtown Office% 3232 PDF p. 119
Investment properties, at valuation% 3232 PDF p. 119
Investment in joint venture% 1011 PDF p. 119
Other assets and liabilities (net)% 6564 PDF p. 119
Net assets of the Trust% 107107 PDF p. 119
Net assets attributable to CPPU holder% (7)(7) PDF p. 119
Unitholders’ funds% 100100 PDF p. 119
Definitions & sources

Original report: PDF p. 119 ↗

Description/name and numerical columns are printed on facing/continuation physical pages; see portfolio-row-geometry.json for separate source-cell and source-label bindings.

Growth in Distributions from FY 2014 to FY 2025 — chart

1 metrics

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Growth in Distributions from FY 2014 to FY 2025 — chart from OUE REIT Annual Report 2025
Metric / unit 2014FY 20142015FY 20152016FY 20162017FY 20172018FY 20182019FY 20192020FY 20202021FY 20212022FY 20222023FY 20232024FY 20242025FY 2025 Source
Amount to be Distributed
Growth in Distributions from FY 2014 to FY 2025S$ million 45.956.167.470.071.3123.2132.8142.0116.2115.3113.7123.8 PDF p. 32
Definitions & sources

Original report: PDF p. 32 ↗

CAGR 8.7% since IPO, calculated on annualised amount distributed, source note retained.

Portfolio card — OUE Bayfront — FY2025

2 metrics

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Portfolio card — OUE Bayfront — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025OUE Bayfront Source
Portfolio card — OUE Bayfront
Property ValuationS$ million 1,422.0 PDF p. 14
FY 2025 RevenueS$ million 67.9 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

Some property metrics are positioned within a multi-column profile card; source x-column linkage is in portfolio-card-geometry.json.

Portfolio card — One Raffles Place — FY2025

2 metrics

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Portfolio card — One Raffles Place — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025One Raffles Place Source
Portfolio card — One Raffles Place
Property ValuationS$ million 1,930.0 PDF p. 14
FY 2025 RevenueS$ million 90.4 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

Some property metrics are positioned within a multi-column profile card; source x-column linkage is in portfolio-card-geometry.json.

Portfolio card — OUE Downtown Office — FY2025

2 metrics

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Portfolio card — OUE Downtown Office — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025OUE Downtown Office Source
Portfolio card — OUE Downtown Office
Property ValuationS$ million 930.0 PDF p. 14
FY 2025 RevenueS$ million 50.8 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

Some property metrics are positioned within a multi-column profile card; source x-column linkage is in portfolio-card-geometry.json.

Portfolio card — Mandarin Gallery — FY2025

2 metrics

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Portfolio card — Mandarin Gallery — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Mandarin Gallery Source
Portfolio card — Mandarin Gallery
Property ValuationS$ million 438.0 PDF p. 15
FY 2025 RevenueS$ million 32.7 PDF p. 15
Definitions & sources

Original report: PDF p. 15 ↗

Some property metrics are positioned within a multi-column profile card; source x-column linkage is in portfolio-card-geometry.json.

Portfolio card — Hilton Singapore Orchard — FY2025

3 metrics

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Portfolio card — Hilton Singapore Orchard — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Hilton Singapore Orchard Source
Portfolio card — Hilton Singapore Orchard
Property ValuationS$ million 1,273.0 PDF p. 15
FY 2025 RevenueS$ million 71.2 PDF p. 15
RevPARS$ per available room 260 PDF p. 15
Definitions & sources

Original report: PDF p. 15 ↗

Some property metrics are positioned within a multi-column profile card; source x-column linkage is in portfolio-card-geometry.json.

Portfolio card — Crowne Plaza Changi Airport — FY2025

3 metrics

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Portfolio card — Crowne Plaza Changi Airport — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Crowne Plaza Changi Airport Source
Portfolio card — Crowne Plaza Changi Airport
Property ValuationS$ million 511.0 PDF p. 15
FY 2025 RevenueS$ million 28.5 PDF p. 15
RevPARS$ per available room 246 PDF p. 15
Definitions & sources

Original report: PDF p. 15 ↗

Some property metrics are positioned within a multi-column profile card; source x-column linkage is in portfolio-card-geometry.json.

Asset Value by Property — FY2025

6 metrics

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Asset Value by Property — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Proportionate interest; valuation as at 31 December 2025 Source
Asset value by property; proportionate interest as at 31 December 2025
One Raffles Place% 29.4 PDF p. 9
Hilton Singapore Orchard% 23.3 PDF p. 9
OUE Downtown Office% 17.0 PDF p. 9
OUE Bayfront% 13.0 PDF p. 9
Crowne Plaza Changi Airport% 9.3 PDF p. 9
Mandarin Gallery% 8.0 PDF p. 9
Definitions & sources

Original report: PDF p. 9 ↗

Based on independent valuations as of 31 December 2025.

FY2025 Revenue Contribution by Segment

3 metrics

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FY2025 Revenue Contribution by Segment from OUE REIT Annual Report 2025
Metric / unit 2025Proportionate interest Source
FY2025 Revenue Contribution by Segment
Office% 49.7 PDF p. 9
Hospitality% 34.1 PDF p. 9
Retail% 16.2 PDF p. 9
Definitions & sources

Original report: PDF p. 9 ↗

Balance Sheet Highlights — monetary values

4 metrics

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Balance Sheet Highlights — monetary values from OUE REIT Annual Report 2025
Metric / unit 2025As of 31 December 2025 Source
Balance Sheet Highlights; as of 31 December 2025
Total AssetsS$’000 5,570,213 PDF p. 9
Total BorrowingsS$’000 2,168,267 PDF p. 9
Unitholders’ FundsS$’000 3,092,920 PDF p. 9
Market CapitalisationS$’000 1,986,964 PDF p. 9
Definitions & sources

Original report: PDF p. 9 ↗

Balance Sheet Highlights — total operating expenses to NAV

1 metrics

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Balance Sheet Highlights — total operating expenses to NAV from OUE REIT Annual Report 2025
Metric / unit 2025As of 31 December 2025 Source
Balance Sheet Highlights; as of 31 December 2025
Total Operating Expenses to NAV% 2.7 PDF p. 9
Definitions & sources

Original report: PDF p. 9 ↗

Portfolio dashboard summary metrics

3 metrics

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Portfolio dashboard summary metrics from OUE REIT Annual Report 2025
Metric / unit Date not statedOUE REIT portfolio; no date printed for the first three dashboard metrics Source
Portfolio dashboard summary metrics
Propertiesproperties 6 PDF p. 15
Prime Office and Retail Spaces (Total Net Lettable Area)million sq ft 1.8m PDF p. 15
Upper Upscale Hotel Roomsrooms 1,655 PDF p. 15
Definitions & sources

Original report: PDF p. 15 ↗

Footnote 4 on physical page 17 states portfolio property value as of 31 December 2025 and specifies the components included.

No reporting date is printed for these three dashboard observations; the annual-report year is not assigned as their observation date.

Historical highlight chart — CAGR since IPO

4 metrics

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Historical highlight chart — CAGR since IPO from OUE REIT Annual Report 2025
Metric / unit 2025CAGR since IPO, from listing through FY2025 endpoint Source
Historical highlight chart — CAGR since IPO
Revenue CAGR since IPO% 12.2 PDF p. 7
Net Property Income CAGR since IPO% 12.9 PDF p. 7
Amount to be Distributed CAGR since IPO% 8.7 PDF p. 7
Total Assets CAGR since IPO% 11.5 PDF p. 7
Definitions & sources

Original report: PDF p. 7 ↗

Separate printed CAGR labels at right of the four chart panels; not included among the 40 FY2016–FY2025 historical data points.

Debt maturity profile chart — 2026 amounts

2 metrics

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Debt maturity profile chart — 2026 amounts from OUE REIT Annual Report 2025
Metric / unit 2026Debt maturity profile Source
Debt maturity profile chart — 2026 amounts
MTNS$ million 150 PDF p. 41
SGD loanS$ million 100 PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

Chart values are separate from contractual debt schedule in financial notes.

Debt maturity profile chart — 2027 amounts

1 metrics

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Debt maturity profile chart — 2027 amounts from OUE REIT Annual Report 2025
Metric / unit 2027Debt maturity profile Source
Debt maturity profile chart — 2027 amounts
MTNS$ million 400 PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

Chart values are separate from contractual debt schedule in financial notes.

Debt maturity profile chart — 2028 amounts

2 metrics

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Debt maturity profile chart — 2028 amounts from OUE REIT Annual Report 2025
Metric / unit 2028Debt maturity profile Source
Debt maturity profile chart — 2028 amounts
Share of OUB Centre Limited’s SGD loanS$ million 264 PDF p. 41
SGD loanS$ million 36 PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

Chart values are separate from contractual debt schedule in financial notes.

Debt maturity profile chart — 2029 amounts

1 metrics

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Debt maturity profile chart — 2029 amounts from OUE REIT Annual Report 2025
Metric / unit 2029Debt maturity profile Source
Debt maturity profile chart — 2029 amounts
SGD loanS$ million 400 PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

Chart values are separate from contractual debt schedule in financial notes.

Debt maturity profile chart — 2030 amounts

1 metrics

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Debt maturity profile chart — 2030 amounts from OUE REIT Annual Report 2025
Metric / unit 2030Debt maturity profile Source
Debt maturity profile chart — 2030 amounts
Share of OUE Allianz Bayfront LLP’s SGD loanS$ million 368 PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

Chart values are separate from contractual debt schedule in financial notes.

Debt maturity profile chart — 2031 amounts

1 metrics

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Debt maturity profile chart — 2031 amounts from OUE REIT Annual Report 2025
Metric / unit 2031Debt maturity profile Source
Debt maturity profile chart — 2031 amounts
MTNS$ million 300 PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

Chart values are separate from contractual debt schedule in financial notes.

Debt maturity profile chart — 2032 amounts

1 metrics

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Debt maturity profile chart — 2032 amounts from OUE REIT Annual Report 2025
Metric / unit 2032Debt maturity profile Source
Debt maturity profile chart — 2032 amounts
MTNS$ million 150 PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

Chart values are separate from contractual debt schedule in financial notes.

Debt maturity profile chart — share of total debt

1 metrics

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Debt maturity profile chart — share of total debt from OUE REIT Annual Report 2025
Metric / unit 2026Debt maturity profile; percentage of total debt2027Debt maturity profile; percentage of total debt2028Debt maturity profile; percentage of total debt2029Debt maturity profile; percentage of total debt2030Debt maturity profile; percentage of total debt2031Debt maturity profile; percentage of total debt2032Debt maturity profile; percentage of total debt Source
Debt maturity profile chart — share of total debt
Percentage of total debt% 11.518.513.818.517.013.86.9 PDF p. 41
Definitions & sources

Original report: PDF p. 41 ↗

Seven printed percentages mapped to the seven future year ticks; values are not assumed to sum to 100% due rounding/other debt maturities.

Portfolio property interests — source footnote figures

2 metrics

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Portfolio property interests — source footnote figures from OUE REIT Annual Report 2025
Metric / unit 2025Portfolio/property descriptions in Annual Report 2025 Source
Portfolio property interests — source footnote figures
OUB Centre Limited interest in One Raffles Place; portfolio value inclusion (footnote 4)% 81.54 PDF p. 14
OUE Bayfront interest; portfolio value inclusion (footnote 4)% 50 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

Footnote 1: Commercial segment comprises OUE Bayfront (50% interest), One Raffles Place (67.95% effective interest), OUE Downtown Office and Mandarin Gallery. Footnote 2: based on OUE Allianz Bayfront LLP’s 100% interest in OUE Bayfront. Footnote 3: based on OUB Centre Limited’s 81.54% interest in One Raffles Place. Footnote 4 repeats both 81.54% and 50% as property valuation basis; the repeated printed source values are retained as separate source occurrences.

Note 4 Investment properties — movement

7 metrics

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Note 4 Investment properties — movement from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 4 Investment properties — movement
At 1 January$’000 5,169,5365,630,357930,000930,000 PDF p. 133
Capital expenditure capitalised$’000 13,34911,6305,0442,296 PDF p. 133
Disposal of a subsidiary$’000 –(311,136)–– PDF p. 133
Lease incentives$’000 (1,427)(3,473)406(4) PDF p. 133
Fair value changes recognised in statements of total return$’000 (75,826)(153,570)(5,450)(2,292) PDF p. 133
Translation differences$’000 –(4,272)–– PDF p. 133
At 31 December$’000 5,105,6325,169,536930,000930,000 PDF p. 133
Definitions & sources

Original report: PDF p. 133 ↗

Audited note 4; source headers provide 2025/2024 Group and Trust columns.

Note 4 Investment properties — valuation reconciliation

4 metrics

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Note 4 Investment properties — valuation reconciliation from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group Source
Note 4 Investment properties — valuation reconciliation
Fair value of investment properties (based on independent valuation)$’000 5,082,0005,145,800 PDF p. 134
Add: Carrying amount of lease liability$’000 22,61222,716 PDF p. 134
Add: Prepayment of lease$’000 1,0201,020 PDF p. 134
Carrying amount of investment properties$’000 5,105,6325,169,536 PDF p. 134
Definitions & sources

Original report: PDF p. 134 ↗

Group carrying amounts reconcile to the SFP/portfolio statements.

Note 5 Investment in subsidiaries — Trust carrying amount

3 metrics

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Note 5 Investment in subsidiaries — Trust carrying amount from OUE REIT Annual Report 2025
Metric / unit 2025Trust2024Trust Source
Note 5 Investment in subsidiaries — Trust carrying amount
Equity investments at cost$’000 2,497,7862,701,304 PDF p. 135
Less: Allowance for impairment loss$’000 (142,235)(61,561) PDF p. 135
Investments in subsidiaries
Subtotal$’000 2,355,5512,639,743 PDF p. 135
Definitions & sources

Original report: PDF p. 135 ↗

Note 5 Investments in subsidiaries — impairment allowance movement

3 metrics

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Note 5 Investments in subsidiaries — impairment allowance movement from OUE REIT Annual Report 2025
Metric / unit 2025Trust2024Trust Source
Note 5 Investments in subsidiaries — impairment allowance movement
At 1 January$’000 61,56117,898 PDF p. 136
Impairment loss recognised$’000 80,67443,663 PDF p. 136
At 31 December$’000 142,23561,561 PDF p. 136
Definitions & sources

Original report: PDF p. 136 ↗

Note 5 Non-controlling interests — OUB Centre Limited interest

1 metrics

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Note 5 Non-controlling interests — OUB Centre Limited interest from OUE REIT Annual Report 2025
Metric / unit 2025NCI interest in OUB Centre Limited2024NCI interest in OUB Centre Limited Source
Note 5 Non-controlling interests — OUB Centre Limited interest
OUB Centre Limited% 16.6716.67 PDF p. 137
Definitions & sources

Original report: PDF p. 137 ↗

Note 5 NCI subsidiary summarized financial information — OUB Centre Limited

14 metrics

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Note 5 NCI subsidiary summarized financial information — OUB Centre Limited from OUE REIT Annual Report 2025
Metric / unit 2025OUB Centre Limited; summarized financial information2024OUB Centre Limited; summarized financial information Source
Note 5 NCI subsidiary summarized financial information — OUB Centre Limited
Revenue$’000 90,40287,665 PDF p. 137
Profit and total comprehensive income$’000 48,91456,477 PDF p. 137
Profit and total comprehensive income attributable to NCI$’000 8,1529,413 PDF p. 137
Non-current assets$’000 1,930,4301,927,368 PDF p. 137
Current assets$’000 12,11112,282 PDF p. 137
Non-current liabilities$’000 (353,756)(360,868) PDF p. 137
Current liabilities$’000 (33,601)(32,900) PDF p. 137
Net assets$’000 1,555,1841,545,882 PDF p. 137
Net assets attributable to NCI$’000 259,197257,647 PDF p. 137
Cash flows from operating activities$’000 59,67759,433 PDF p. 137
Cash flows used in investing activities$’000 (1,500)(1,773) PDF p. 137
Cash flows used in financing activities$’000 (58,033)(58,092) PDF p. 137
Net increase/(decrease) in cash and cash equivalents$’000 144(432) PDF p. 137
Dividends paid to NCI$’000 (6,400)(6,400) PDF p. 137
Definitions & sources

Original report: PDF p. 137 ↗

This is a summarized subsidiary schedule, not an additional Group or Trust primary statement.

Note 6 Investment in joint venture — carrying amount

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Note 6 Investment in joint venture — carrying amount from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 6 Investment in joint venture — carrying amount
Investment in joint venture$’000 334,941376,336285,007319,291 PDF p. 137
Definitions & sources

Original report: PDF p. 137 ↗

Note 6 OUE Allianz Bayfront LLP summarized financial information and rollforward

16 metrics

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Note 6 OUE Allianz Bayfront LLP summarized financial information and rollforward from OUE REIT Annual Report 2025
Metric / unit 2025OUE Allianz Bayfront LLP / Group share2024OUE Allianz Bayfront LLP / Group share Source
Note 6 OUE Allianz Bayfront LLP summarized financial information and rollforward
Revenue$’000 67,91266,197 PDF p. 138
Profit from continuing operations$’000 12,79660,967 PDF p. 138
Group’s share of total return (50% basis)$’000 6,39830,484 PDF p. 138
Non-current assets$’000 1,422,0001,388,000 PDF p. 138
Current assets$’000 4,5376,172 PDF p. 138
Non-current liabilities$’000 (746,115)(632,550) PDF p. 138
Current liabilities$’000 (10,539)(8,950) PDF p. 138
Net assets (100% basis)$’000 669,883752,672 PDF p. 138
Group’s 50% interest in joint venture at beginning of year$’000 376,336353,719 PDF p. 138
Return of capital$’000 (42,100)– PDF p. 138
Capital contribution for capital expenditure borne by Trust$’000 7,8162,414 PDF p. 138
Share of total return for the year$’000 6,39830,484 PDF p. 138
Share of movement in Unitholders’ fund$’000 (735)(1,250) PDF p. 138
Dividends received during year$’000 (12,774)(9,031) PDF p. 138
Carrying amount of interest in joint venture at year end$’000 334,941376,336 PDF p. 138
Group’s share of joint venture capital commitments$’000 5,132316 PDF p. 138
Definitions & sources

Original report: PDF p. 138 ↗

Footnotes contain additional repeated financial amounts (interest expense, cash balances and liabilities); see note-schedule inventory and exact source context.

Note 8 Trade and other receivables — current balances

18 metrics

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Note 8 Trade and other receivables — current balances from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 8 Trade and other receivables — current balances
Trade receivables from other related parties$’000 7,7408,55916– PDF p. 140
Trade receivables from third parties$’000 3,6703,520340299 PDF p. 140
Subtotal$’000 11,41012,079356299 PDF p. 140
Less: Allowance for doubtful receivables$’000 (691)(639)–– PDF p. 140
Subtotal$’000 10,71911,440356299 PDF p. 140
Interest receivables$’000 109185107167 PDF p. 140
Other receivables from subsidiaries$’000 ––10,63613,681 PDF p. 140
Other receivables from other related parties$’000 –52–1 PDF p. 140
Other receivables from joint venture$’000 415415415415 PDF p. 140
Other receivables from third parties$’000 7,58010,827726484 PDF p. 140
Subtotal$’000 8,10411,47911,88414,748 PDF p. 140
Deposits$’000 222533 PDF p. 140
Subtotal$’000 18,84522,94412,24315,050 PDF p. 140
Prepayments$’000 2,9392,67010284 PDF p. 140
Subtotal$’000 21,78425,61412,34515,134 PDF p. 140
Non-current deposits$’000 4,1094,109–– PDF p. 140
Non-current prepayments$’000 364329–– PDF p. 140
Subtotal$’000 4,4734,438–– PDF p. 140
Definitions & sources

Original report: PDF p. 140 ↗

Dash glyphs are source-present; no substitution with zero. Source rows are split where the report groups receivables before/after subtotals.

Note 8 Trade receivables — ageing not impaired

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Note 8 Trade receivables — ageing not impaired from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 8 Trade receivables — ageing not impaired
Not past due$’000 8,6389,33280– PDF p. 140
Past due 0–30 days$’000 1,013962275292 PDF p. 140
Past due 31–90 days$’000 474315 PDF p. 140
Past due over 90 days$’000 1,0211,103–2 PDF p. 140
Subtotal$’000 10,71911,440356299 PDF p. 140
Definitions & sources

Original report: PDF p. 140 ↗

Note 8 Allowance for doubtful receivables movement

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Note 8 Allowance for doubtful receivables movement from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 8 Allowance for doubtful receivables movement
At 1 January$’000 639410–– PDF p. 141
Allowance made$’000 52412–– PDF p. 141
Disposal of a subsidiary$’000 –(184)–– PDF p. 141
Translation differences$’000 –1–– PDF p. 141
At 31 December$’000 691639–– PDF p. 141
Definitions & sources

Original report: PDF p. 141 ↗

Note 9 Loans to OUE Hospitality Sub-Trust — note disclosures

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Note 9 Loans to OUE Hospitality Sub-Trust — note disclosures from OUE REIT Annual Report 2025
Metric / unit 2025Trust, on-lent proceeds2024Trust, on-lent proceeds Source
Note 9 Loans to OUE Hospitality Sub-Trust — note disclosures
Proceeds on-lent from note issuance to OUE H-Sub-Trust$ million 705.0555.0 PDF p. 141
Additional loan to OUE H-Sub-Trust$ million 181.630.6 PDF p. 141
Definitions & sources

Original report: PDF p. 141 ↗

The loans are stated as outstanding as at 31 December 2025; source note gives prior-year comparative.

Note 10 Cash and cash equivalents

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Note 10 Cash and cash equivalents from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 10 Cash and cash equivalents
Cash at bank$’000 22,9406,6565,7722,580 PDF p. 141
Short-term deposits with financial institutions$’000 80,376355,01480,376– PDF p. 141
Subtotal$’000 103,316361,67086,1482,580 PDF p. 141
Definitions & sources

Original report: PDF p. 141 ↗

Note 11 Loans and borrowings — carrying balances

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Note 11 Loans and borrowings — carrying balances from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 11 Loans and borrowings — carrying balances
Unsecured bank loans$’000 853,0001,163,500436,000439,500 PDF p. 142
Unsecured notes$’000 1,000,000950,000–– PDF p. 142
Loan from a subsidiary$’000 ––1,000,000950,000 PDF p. 142
Less: Unamortised transaction costs$’000 (10,469)(13,865)(9,996)(11,432) PDF p. 142
Subtotal$’000 1,842,5312,099,6351,426,0041,378,068 PDF p. 142
Current$’000 249,650115,265149,844105,265 PDF p. 142
Non-current$’000 1,592,8811,984,3701,276,1601,272,803 PDF p. 142
Subtotal$’000 1,842,5312,099,6351,426,0041,378,068 PDF p. 142
Definitions & sources

Original report: PDF p. 142 ↗

Note 11 Financing liabilities reconciliation — FY2025

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Note 11 Financing liabilities reconciliation — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Borrowings2025Lease liability2025Hedge derivative assets2025Hedge derivative liabilities2025Total Source
Note 11 Financing liabilities reconciliation — FY2025
Balance at 1 January 2025$’000 2,099,63522,716(2,200)2,5192,122,670 PDF p. 144
Proceeds from issuance of unsecured notes$’000 150,000–––150,000 PDF p. 144
Proceeds from bank loans$’000 382,000–––382,000 PDF p. 144
Repayment of unsecured notes$’000 (100,000)(100,000) PDF p. 144
Repayment of bank loans$’000 (692,500)–––(692,500) PDF p. 144
Payment of transaction costs related to borrowings$’000 (1,975)–––(1,975) PDF p. 144
Payment of lease liability – principal$’000 –(104)––(104) PDF p. 144
Payment of lease liability – interest$’000 –(916)––(916) PDF p. 144
Total changes from financing cash flows$’000 (262,475)(1,020)––(263,495) PDF p. 144
Change in fair value$’000 ––2,200(16,509)(14,309) PDF p. 144
Amortisation of debt-related transaction costs$’000 5,371–––5,371 PDF p. 144
Financial liability measured at amortised cost – interest expense$’000 –916––916 PDF p. 144
Total liability-related other changes$’000 5,371916––6,287 PDF p. 144
Balance at 31 December 2025$’000 1,842,53122,612–(13,990)1,851,153 PDF p. 144
Definitions & sources

Original report: PDF p. 144 ↗

For “Repayment of unsecured notes”, source shows blank cells for the intermediate liability columns; blanks remain empty strings and are not dash/zero.

Note 11 Financing liabilities reconciliation — FY2024

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Note 11 Financing liabilities reconciliation — FY2024 from OUE REIT Annual Report 2025
Metric / unit 2024Borrowings2024Lease liability2024Hedge derivative assets2024Hedge derivative liabilities2024Total Source
Note 11 Financing liabilities reconciliation — FY2024
Balance at 1 January 2024$’000 2,055,11922,816(3,274)2442,074,905 PDF p. 145
Proceeds from issuance of unsecured notes$’000 550,857–––550,857 PDF p. 145
Proceeds from bank loans$’000 568,750–––568,750 PDF p. 145
Repayment of bank loans$’000 (1,073,250)–––(1,073,250) PDF p. 145
Payment of transaction costs related to borrowings$’000 (10,918)–––(10,918) PDF p. 145
Payment of lease liability – principal$’000 –(100)––(100) PDF p. 145
Payment of lease liability – interest$’000 –(920)––(920) PDF p. 145
Total changes from financing cash flows$’000 35,439(1,020)––34,419 PDF p. 145
Change in fair value$’000 ––1,0742,2753,349 PDF p. 145
Amortisation of debt-related transaction costs$’000 9,077–––9,077 PDF p. 145
Financial liability measured at amortised cost – interest expense$’000 –920––920 PDF p. 145
Total liability-related other changes$’000 9,077920––9,997 PDF p. 145
Balance at 31 December 2024$’000 2,099,63522,716(2,200)2,5192,122,670 PDF p. 145
Definitions & sources

Original report: PDF p. 145 ↗

Note 12 Trade and other payables — current

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Note 12 Trade and other payables — current from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 12 Trade and other payables — current
Trade payables$’000 2,5011,996133 PDF p. 146
Other payable due to the Manager$’000 3,0973,5433,0971,977 PDF p. 146
Other payable due to subsidiaries$’000 ––3,1613,325 PDF p. 146
Other payable due to related parties$’000 915877182173 PDF p. 146
Other payable due to joint venture$’000 454464454464 PDF p. 146
Other payable due to third parties$’000 17,6155,0121,041414 PDF p. 146
Advance rental received$’000 1,2741,095307290 PDF p. 146
Accrued expenses$’000 17,37733,5127,4569,357 PDF p. 146
Interest payable to subsidiary$’000 ––5,9884,397 PDF p. 146
Interest payable to third parties$’000 8,9918,9762,6913,216 PDF p. 146
Rental deposits — related parties$’000 741047474 PDF p. 146
Rental deposits — third parties$’000 14,19514,3093,9543,570 PDF p. 146
Other deposits — related parties$’000 61471414 PDF p. 146
Other deposits — third parties$’000 1,6951,659347315 PDF p. 146
Subtotal$’000 68,24971,59428,76727,619 PDF p. 146
Non-current rental deposits — related parties$’000 615608304299 PDF p. 146
Non-current rental deposits — third parties$’000 29,76228,8086,2366,112 PDF p. 146
Subtotal$’000 30,37729,4166,5406,411 PDF p. 146
Definitions & sources

Original report: PDF p. 146 ↗

Note 13 Deferred tax liabilities by source

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Note 13 Deferred tax liabilities by source from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 13 Deferred tax liabilities by source
Investment properties$’000 16,93816,704–– PDF p. 146
Plant and equipment$’000 1017–– PDF p. 146
Subtotal$’000 16,94816,721–– PDF p. 146
Definitions & sources

Original report: PDF p. 146 ↗

Note 13 Deferred tax liability movement — FY2025

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Note 13 Deferred tax liability movement — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Investment properties2025Plant and equipment2025Others2025Total Source
Note 13 Deferred tax liability movement — FY2025
At 1 January 2025$’000 16,70417–16,721 PDF p. 147
Recognised in statements of total return (Note 22)$’000 234(7)–227 PDF p. 147
At 31 December 2025$’000 16,93810–16,948 PDF p. 147
Definitions & sources

Original report: PDF p. 147 ↗

Note 13 Deferred tax liability movement — FY2024

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Note 13 Deferred tax liability movement — FY2024 from OUE REIT Annual Report 2025
Metric / unit 2024Investment properties2024Plant and equipment2024Others2024Total Source
Note 13 Deferred tax liability movement — FY2024
At 1 January 2024$’000 49,81513,0981,44364,356 PDF p. 147
Recognised in statements of total return (Note 22)$’000 (33,035)376(192)(32,851) PDF p. 147
Disposal of a subsidiary$’000 196(13,327)(1,237)(14,368) PDF p. 147
Translation differences$’000 (272)(130)(14)(416) PDF p. 147
At 31 December 2024$’000 16,70417–16,721 PDF p. 147
Definitions & sources

Original report: PDF p. 147 ↗

Note 14 Convertible perpetual preferred units carrying amount

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Note 14 Convertible perpetual preferred units carrying amount from OUE REIT Annual Report 2025
Metric / unit 2025Group and Trust2024Group and Trust Source
Note 14 Convertible perpetual preferred units carrying amount
Carrying amount of remaining CPPUs and total return attributable to CPPU holder$ 212,309,000212,306,000 PDF p. 148
Definitions & sources

Original report: PDF p. 148 ↗

Note 15 Units in issue and to be issued

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Note 15 Units in issue and to be issued from OUE REIT Annual Report 2025
Metric / unit 2025Group and Trust2024Group and Trust Source
Note 15 Units in issue and to be issued
At 1 January’000 5,492,9505,485,915 PDF p. 148
Manager management fees paid in Units’000 Units 26,3957,035 PDF p. 148
At 31 December’000 5,519,3455,492,950 PDF p. 148
Manager management fees payable in Units’000 Units 5,2727,114 PDF p. 148
Units in issue and to be issued’000 Units 5,524,6175,500,064 PDF p. 148
Definitions & sources

Original report: PDF p. 148 ↗

Note 16 Net asset value per Unit — net assets basis

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Note 16 Net asset value per Unit — net assets basis from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 16 Net asset value per Unit — net assets basis
Net assets attributable to Unitholders$’000 3,092,9203,187,3012,876,0552,866,525 PDF p. 149
Definitions & sources

Original report: PDF p. 149 ↗

Note 16 Net asset value per Unit — Units basis

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Note 16 Net asset value per Unit — Units basis from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 16 Net asset value per Unit — Units basis
Units in issue and to be issued at 31 December’000 Units 5,524,6175,500,0645,524,6175,500,064 PDF p. 149
Definitions & sources

Original report: PDF p. 149 ↗

Note 17 Revenue

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Note 17 Revenue from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Note 17 Revenue
Rental income$’000 247,789268,82843,02341,497 PDF p. 149
Service fee income$’000 20,30320,2556,9066,899 PDF p. 149
Carpark income$’000 1,3061,767–– PDF p. 149
Dividend income$’000 ––216,800112,817 PDF p. 149
Others$’000 4,2134,671855576 PDF p. 149
Subtotal$’000 273,611295,521267,584161,789 PDF p. 149
Definitions & sources

Original report: PDF p. 149 ↗

Note 11 Debt terms and maturity schedule — FY2025

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Note 11 Debt terms and maturity schedule — FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Group; face value2025Group; carrying amount2025Trust; face value2025Trust; carrying amount Source
Loans and borrowings; 2025 contractual terms and maturity schedule
Unsecured bank loans$’000 853,000845,869436,000430,059 PDF p. 142
Unsecured notes$’000 1,000,000996,662–– PDF p. 142
Loan from a subsidiary$’000 ––1,000,000995,945 PDF p. 142
Note 11 Debt terms and maturity schedule — FY2025
Subtotal$’000 1,853,0001,842,5311,436,0001,426,004 PDF p. 142
Definitions & sources

Original report: PDF p. 142 ↗

Face value and carrying amount are distinct source columns. Year-specific schedule is kept separate.

Note 11 Debt terms and maturity schedule — FY2024

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Note 11 Debt terms and maturity schedule — FY2024 from OUE REIT Annual Report 2025
Metric / unit 2024Group; face value2024Group; carrying amount2024Trust; face value2024Trust; carrying amount Source
Loans and borrowings; 2024 contractual terms and maturity schedule
Unsecured bank loans$’000 1,163,5001,153,487439,500431,920 PDF p. 142
Unsecured notes$’000 950,000946,148–– PDF p. 142
Loan from a subsidiary$’000 ––950,000946,148 PDF p. 142
Note 11 Debt terms and maturity schedule — FY2024
Subtotal$’000 2,113,5002,099,6351,389,5001,378,068 PDF p. 142
Definitions & sources

Original report: PDF p. 142 ↗

Face value and carrying amount are distinct source columns. Year-specific schedule is kept separate.

Note 15 Units issued for management fees — FY2025 — Units issued during year

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Note 15 Units issued for management fees — FY2025 — Units issued during year from OUE REIT Annual Report 2025
Metric / unit 2025Units issued during year Source
Units in issue and to be issued; FY2025
Units issued during yearUnits 26,395,362 PDF p. 148
Definitions & sources

Original report: PDF p. 148 ↗

Source narrative amount, separated by unit type from the number of Units.

Note 15 Units issued for management fees — FY2025 — Value of Units issued

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Note 15 Units issued for management fees — FY2025 — Value of Units issued from OUE REIT Annual Report 2025
Metric / unit 2025Value of Units issued Source
Units in issue and to be issued; FY2025
Value of Units issued$ 7,856,000 PDF p. 148
Definitions & sources

Original report: PDF p. 148 ↗

Source narrative amount, separated by unit type from the number of Units.

Note 15 Units issued for management fees — FY2024 — Units issued during year

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Note 15 Units issued for management fees — FY2024 — Units issued during year from OUE REIT Annual Report 2025
Metric / unit 2024Units issued during year Source
Units in issue and to be issued; FY2024
Units issued during yearUnits 7,034,442 PDF p. 148
Definitions & sources

Original report: PDF p. 148 ↗

Source narrative amount, separated by unit type from the number of Units.

Note 15 Units issued for management fees — FY2024 — Value of Units issued

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Note 15 Units issued for management fees — FY2024 — Value of Units issued from OUE REIT Annual Report 2025
Metric / unit 2024Value of Units issued Source
Units in issue and to be issued; FY2024
Value of Units issued$ 2,006,000 PDF p. 148
Definitions & sources

Original report: PDF p. 148 ↗

Source narrative amount, separated by unit type from the number of Units.

Note 7 Financial derivatives master-netting details — Group FY2025

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Note 7 Financial derivatives master-netting details — Group FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Group; FY2025; Gross recognised financial instruments2025Group; FY2025; Gross amounts offset in financial position2025Group; FY2025; Net amount included in financial position2025Group; FY2025; Related instruments not offset2025Group; FY2025; Net amount Source
Financial derivatives; master netting arrangements
Derivatives liabilities — interest rate swaps used for hedging$’000 (13,990)–(13,990)–(13,990) PDF p. 139
Definitions & sources

Original report: PDF p. 139 ↗

Five source columns correspond to gross recognised, offset, net recognised, related instruments not offset, and net amount. Master-netting disclosure does not meet offsetting criteria.

Note 7 Financial derivatives master-netting details — Group FY2024

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Note 7 Financial derivatives master-netting details — Group FY2024 from OUE REIT Annual Report 2025
Metric / unit 2024Group; FY2024; Gross recognised financial instruments2024Group; FY2024; Gross amounts offset in financial position2024Group; FY2024; Net amount included in financial position2024Group; FY2024; Related instruments not offset2024Group; FY2024; Net amount Source
Financial derivatives; master netting arrangements
Derivatives assets — interest rate swaps used for hedging$’000 2,200–2,200(2,200)– PDF p. 139
Derivatives liabilities — interest rate swaps used for hedging$’000 (2,519)–(2,519)2,200(319) PDF p. 139
Definitions & sources

Original report: PDF p. 139 ↗

Five source columns correspond to gross recognised, offset, net recognised, related instruments not offset, and net amount. Master-netting disclosure does not meet offsetting criteria.

Note 7 Financial derivatives master-netting details — Trust FY2025

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Note 7 Financial derivatives master-netting details — Trust FY2025 from OUE REIT Annual Report 2025
Metric / unit 2025Trust; FY2025; Gross recognised financial instruments2025Trust; FY2025; Gross amounts offset in financial position2025Trust; FY2025; Net amount included in financial position2025Trust; FY2025; Related instruments not offset2025Trust; FY2025; Net amount Source
Financial derivatives; master netting arrangements
Derivatives liabilities — interest rate swaps used for hedging$’000 (5,456)–(5,456)–(5,456) PDF p. 139
Definitions & sources

Original report: PDF p. 139 ↗

Five source columns correspond to gross recognised, offset, net recognised, related instruments not offset, and net amount. Master-netting disclosure does not meet offsetting criteria.

Note 7 Financial derivatives master-netting details — Trust FY2024

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Note 7 Financial derivatives master-netting details — Trust FY2024 from OUE REIT Annual Report 2025
Metric / unit 2024Trust; FY2024; Gross recognised financial instruments2024Trust; FY2024; Gross amounts offset in financial position2024Trust; FY2024; Net amount included in financial position2024Trust; FY2024; Related instruments not offset2024Trust; FY2024; Net amount Source
Financial derivatives; master netting arrangements
Derivatives assets — interest rate swaps used for hedging$’000 119–119(119)– PDF p. 139
Derivatives liabilities — interest rate swaps used for hedging$’000 (1,538)–(1,538)119(1,419) PDF p. 139
Definitions & sources

Original report: PDF p. 139 ↗

Five source columns correspond to gross recognised, offset, net recognised, related instruments not offset, and net amount. Master-netting disclosure does not meet offsetting criteria.

Note 11 Unsecured debt programme limits

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Note 11 Unsecured debt programme limits from OUE REIT Annual Report 2025
Metric / unit 2025Facility terms disclosed in FY2025 annual report; as-of date not separately printed Source
Note 11 debt programme and terms
2020 Multicurrency Debt Issuance Programme limit$ billion 2.0 PDF p. 143
Euro Medium Term Note Programme limit$ billion 2.0 PDF p. 143
Definitions & sources

Original report: PDF p. 143 ↗

Note 11 Commercial Paper Programme limit

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Note 11 Commercial Paper Programme limit from OUE REIT Annual Report 2025
Metric / unit 2025Facility terms disclosed in FY2025 annual report; as-of date not separately printed Source
Note 11 debt programme and terms
Commercial Paper Programme limit$ million 500.0 PDF p. 143
Definitions & sources

Original report: PDF p. 143 ↗

Note 11 Commercial Paper maximum tenor

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Note 11 Commercial Paper maximum tenor from OUE REIT Annual Report 2025
Metric / unit 2025Facility terms disclosed in FY2025 annual report; as-of date not separately printed Source
Note 11 debt programme and terms
Commercial Paper maximum tenordays 364 PDF p. 143
Definitions & sources

Original report: PDF p. 143 ↗

Note 11 Unsecured notes issuance, outstanding and intercompany loan

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Note 11 Unsecured notes issuance, outstanding and intercompany loan from OUE REIT Annual Report 2025
Metric / unit 2025FY2025 note disclosure2024FY2024 comparative Source
Note 11 debt programme and terms
Sustainability-linked notes issued under 2020 Programme$ million $nil550.0 PDF p. 143
Sustainability-linked notes issued under EMTN Programme$ million 150.0$nil) PDF p. 143
Unsecured notes outstanding under both programmes$ million 1,000.0950.0 PDF p. 143
Loan proceeds on-lent to OUE Hospitality Sub-Trust$ million 705.0555.0 PDF p. 143
Definitions & sources

Original report: PDF p. 143 ↗

Note 11 Unsecured notes fixed rate bounds

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Note 11 Unsecured notes fixed rate bounds from OUE REIT Annual Report 2025
Metric / unit 2025FY2025 note disclosure2024FY2024 comparative Source
Note 11 debt programme and terms
Lower bound of fixed interest rate% per annum 2.753.90 PDF p. 143
Upper bound of fixed interest rate% per annum 4.104.10 PDF p. 143
Definitions & sources

Original report: PDF p. 143 ↗

Note 11 Unsecured notes maturity bounds

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Note 11 Unsecured notes maturity bounds from OUE REIT Annual Report 2025
Metric / unit 2025FY2025 note disclosure2024FY2024 comparative Source
Note 11 debt programme and terms
Earliest maturity yearyear 20262025 PDF p. 143
Latest maturity yearyear 20322031 PDF p. 143
Definitions & sources

Original report: PDF p. 143 ↗

Note 11 Unsecured notes redemption amount

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Note 11 Unsecured notes redemption amount from OUE REIT Annual Report 2025
Metric / unit 2025Notes redemption on 24 June 2025 Source
Note 11 debt programme and terms
Unsecured notes redeemed on 24 June 2025$ million 100.0 PDF p. 143
Definitions & sources

Original report: PDF p. 143 ↗

Note 1 Management base fee unit settlement proportions

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Note 1 Management base fee unit settlement proportions from OUE REIT Annual Report 2025
Metric / unit 2025FY20252024FY2024 4Q only Source
Note 1 management/property/trustee fee terms
Management base fee payable in Units proportion% 5050 PDF p. 123
Definitions & sources

Original report: PDF p. 123 ↗

Note 1 Commercial property management fee rates

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Note 1 Commercial property management fee rates from OUE REIT Annual Report 2025
Metric / unit 2025FY2025 annual-report fee term disclosed in Note 1 Source
Note 1 management/property/trustee fee terms
Property management fee on gross revenue — commercial properties% 2 PDF p. 123
Property management fee on Net Property Income — commercial properties% 2 PDF p. 123
Lease management fee on Net Property Income — commercial properties% 0.5 PDF p. 123
Definitions & sources

Original report: PDF p. 123 ↗

Note 1 Commercial property project management fee range

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Note 1 Commercial property project management fee range from OUE REIT Annual Report 2025
Metric / unit 2025FY2025 annual-report fee term disclosed in Note 1 Source
Note 1 management/property/trustee fee terms
Project management fee lower rate% of construction cost 1.35 PDF p. 123
Project management fee upper rate% of construction cost 3.0 PDF p. 123
Definitions & sources

Original report: PDF p. 123 ↗

Note 1 Retail property management fee rates

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Note 1 Retail property management fee rates from OUE REIT Annual Report 2025
Metric / unit 2025FY2025 annual-report fee term disclosed in Note 1 Source
Note 1 management/property/trustee fee terms
Property management fee on gross revenue — Mandarin Gallery% 2 PDF p. 123
Property management fee on Net Property Income — Mandarin Gallery% 2 PDF p. 123
Lease management fee on Net Property Income — Mandarin Gallery% 0.5 PDF p. 123
Definitions & sources

Original report: PDF p. 123 ↗

Note 1 Trustee fee percentage terms

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Note 1 Trustee fee percentage terms from OUE REIT Annual Report 2025
Metric / unit 2025FY2025 annual-report fee term disclosed in Note 1 Source
Note 1 management/property/trustee fee terms
Trustee fee maximum rate under Trust Deed% per annum 0.1 PDF p. 124
Trustee fee current scaled maximum rate% per annum 0.02 PDF p. 124
Definitions & sources

Original report: PDF p. 124 ↗

Note 1 Trustee fee minimum monthly amount

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Note 1 Trustee fee minimum monthly amount from OUE REIT Annual Report 2025
Metric / unit 2025FY2025 annual-report fee term disclosed in Note 1 Source
Note 1 management/property/trustee fee terms
Trustee fee minimum monthly amountS$ per month 30,000 PDF p. 124
Definitions & sources

Original report: PDF p. 124 ↗

Note 9 Loans to subsidiary — fixed interest rate bounds

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Note 9 Loans to subsidiary — fixed interest rate bounds from OUE REIT Annual Report 2025
Metric / unit 2025Trust2024Trust Source
Note 9/11 disclosed financing terms
Lower fixed rate% per annum 2.753.90 PDF p. 141
Upper fixed rate% per annum 4.104.10 PDF p. 141
Definitions & sources

Original report: PDF p. 141 ↗

As at31December2025. Original2024comparative explicitly printed; on-lent notes proceeds unsecured and repayable on demand.

Note 11 Outstanding loan nominal interest rate bounds

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Note 11 Outstanding loan nominal interest rate bounds from OUE REIT Annual Report 2025
Metric / unit 2025Nominal lower rate2025Nominal upper rate2024Nominal lower rate2024Nominal upper rate Source
Note 9/11 disclosed financing terms
Unsecured bank loans% per annum 2.114.354.034.89 PDF p. 142
Unsecured notes% per annum 2.754.103.904.10 PDF p. 142
Loan from a subsidiary% per annum 2.754.103.904.10 PDF p. 142
Definitions & sources

Original report: PDF p. 142 ↗

Year-of-maturity source ranges are retained:2025 bank loans2026–2029,notes and subsidiary loan2026–2032;2024 bank loans2025–2029,notes and subsidiary loan2025–2031. Interest-rate bounds are not average borrowing costs.

Note 11 Bank facility limits and drawn amounts

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Note 11 Bank facility limits and drawn amounts from OUE REIT Annual Report 2025
Metric / unit 2025Group; reporting date2024Group; comparative Source
Note 9/11 disclosed financing terms
Committed bank loans and revolving credit facilities$ million 1,270.01,358.0 PDF p. 142
Committed facilities drawn down$ million 853.01,148.0 PDF p. 142
Uncommitted revolving credit facility$ million 150.0150.0 PDF p. 142
Uncommitted facility drawn down$ million $nil15.5 PDF p. 142
Bank facilities with sustainability-linked reductions$ million 1,320.01,408.0 PDF p. 142
Sustainability-linked loans drawn down$ million 853.01,148.0 PDF p. 142
Definitions & sources

Original report: PDF p. 142 ↗

Original $nil retained as nil; not converted to zero. Facility commitments, drawn amounts and sustainability-linked subset are distinct and must not be added together.

Portfolio assets under management — source dated valuation

1 metrics

Units appear below each metric. Scroll to compare years

Portfolio assets under management — source dated valuation from OUE REIT Annual Report 2025
Metric / unit 2025Portfolio property value as of31December2025; source footnote4 onPDFp14 Source
Portfolio dashboard summary metrics
Assets Under ManagementS$ billion S$5.8b PDF p. 15
Definitions & sources

Original report: PDF p. 15 ↗

4 Portfolio property value as of31December2025. Includes OUB Centre Limited’s81.54%interest inOne Raffles Place and50%interest inOUE Bayfront. Exact original footnote onPDFp14 retained in source evidence.

Note 7 Interest rate swaps — recognised derivative balances

5 metrics

Units appear below each metric. Scroll to compare years

Note 7 Interest rate swaps — recognised derivative balances from OUE REIT Annual Report 2025
Metric / unit 2025Group2024Group2025Trust2024Trust Source
Financial derivatives
Derivative assets — interest rate swaps — non-current$’000 –2,200–119 PDF p. 138
Derivative liabilities — interest rate swaps — current$’000 (3,747)(167)(1,943)(167) PDF p. 138
Derivative liabilities — interest rate swaps — non-current$’000 (10,243)(2,352)(3,513)(1,371) PDF p. 138
Derivative liabilities subtotal — unlabelled source row$’000 (13,990)(2,519)(5,456)(1,538) PDF p. 138
Financial derivatives as a percentage of net assets% (0.4%)(0.1%)(0.2%)(0.1%) PDF p. 138
Definitions & sources

Original report: PDF p. 138 ↗

Portfolio card — OUE Bayfront — observation date not disclosed

5 metrics

Units appear below each metric. Scroll to compare years

Portfolio card — OUE Bayfront — observation date not disclosed from OUE REIT Annual Report 2025
Metric / unit Date not statedOUE Bayfront Source
Portfolio card — OUE Bayfront
Ownership Interest% 50 PDF p. 14
Overall Occupancy% 99.0 PDF p. 14
Office Occupancy% 99.4 PDF p. 14
Retail Occupancy% 92.3 PDF p. 14
NLAsq m 39,357.2 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

The source gives no standalone observation date for these fields. The annual-report year is not assigned as their observation date.

Portfolio card — One Raffles Place — observation date not disclosed

5 metrics

Units appear below each metric. Scroll to compare years

Portfolio card — One Raffles Place — observation date not disclosed from OUE REIT Annual Report 2025
Metric / unit Date not statedOne Raffles Place Source
Portfolio card — One Raffles Place
Ownership Interest in OUB Centre Limited% 83.33 PDF p. 14
Overall Occupancy% 95.3 PDF p. 14
Office Occupancy% 94.5 PDF p. 14
Retail Occupancy% 99.4 PDF p. 14
NLAsq m 65,309.3 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

The source gives no standalone observation date for these fields. The annual-report year is not assigned as their observation date.

Portfolio card — OUE Downtown Office — observation date not disclosed

3 metrics

Units appear below each metric. Scroll to compare years

Portfolio card — OUE Downtown Office — observation date not disclosed from OUE REIT Annual Report 2025
Metric / unit Date not statedOUE Downtown Office Source
Portfolio card — OUE Downtown Office
Ownership interest in office components% 100 PDF p. 14
Overall Occupancy% 93.4 PDF p. 14
NLAsq m 49,116.9 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

The source gives no standalone observation date for these fields. The annual-report year is not assigned as their observation date.

Portfolio card — Mandarin Gallery — observation date not disclosed

3 metrics

Units appear below each metric. Scroll to compare years

Portfolio card — Mandarin Gallery — observation date not disclosed from OUE REIT Annual Report 2025
Metric / unit Date not statedMandarin Gallery Source
Portfolio card — Mandarin Gallery
Ownership Interest% 100 PDF p. 15
Occupancy% 95.7 PDF p. 15
NLAsq m 11,732.0 PDF p. 15
Definitions & sources

Original report: PDF p. 15 ↗

The source gives no standalone observation date for these fields. The annual-report year is not assigned as their observation date.

Portfolio card — Hilton Singapore Orchard — observation date not disclosed

3 metrics

Units appear below each metric. Scroll to compare years

Portfolio card — Hilton Singapore Orchard — observation date not disclosed from OUE REIT Annual Report 2025
Metric / unit Date not statedHilton Singapore Orchard Source
Portfolio card — Hilton Singapore Orchard
Ownership Interest% 100 PDF p. 15
Roomsrooms 1,080 PDF p. 15
Gross Floor Areasq m 91,999.8 PDF p. 15
Definitions & sources

Original report: PDF p. 15 ↗

The source gives no standalone observation date for these fields. The annual-report year is not assigned as their observation date.

Portfolio card — Crowne Plaza Changi Airport — observation date not disclosed

3 metrics

Units appear below each metric. Scroll to compare years

Portfolio card — Crowne Plaza Changi Airport — observation date not disclosed from OUE REIT Annual Report 2025
Metric / unit Date not statedCrowne Plaza Changi Airport Source
Portfolio card — Crowne Plaza Changi Airport
Ownership Interest% 100 PDF p. 15
Roomsrooms 575 PDF p. 15
Gross Floor Areasq m 40,914.0 PDF p. 15
Definitions & sources

Original report: PDF p. 15 ↗

The source gives no standalone observation date for these fields. The annual-report year is not assigned as their observation date.

Portfolio property interests — source footnote figures — observation date not disclosed

4 metrics

Units appear below each metric. Scroll to compare years

Portfolio property interests — source footnote figures — observation date not disclosed from OUE REIT Annual Report 2025
Metric / unit Date not statedPortfolio/property descriptions in Annual Report 2025 Source
Portfolio property interests — source footnote figures
OUE Bayfront interest in commercial-segment scope (footnote 1)% 50 PDF p. 14
One Raffles Place effective interest in commercial-segment scope (footnote 1)% 67.95 PDF p. 14
OUE Allianz Bayfront LLP interest in OUE Bayfront (footnote 2)% 100 PDF p. 14
OUB Centre Limited interest in One Raffles Place; valuation basis (footnote 3)% 81.54 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

Footnote 1: Commercial segment comprises OUE Bayfront (50% interest), One Raffles Place (67.95% effective interest), OUE Downtown Office and Mandarin Gallery. Footnote 2: based on OUE Allianz Bayfront LLP’s 100% interest in OUE Bayfront. Footnote 3: based on OUB Centre Limited’s 81.54% interest in One Raffles Place. Footnote 4 repeats both 81.54% and 50% as property valuation basis; the repeated printed source values are retained as separate source occurrences.

Where the money comes from

Segment information

By business

Operating segments - Information about reportable segments (Commercial / Hospitality) 17 lines
Operating segments - Information about reportable segments (Commercial / Hospitality)
Item / unit 2025Commercial2024Commercial2025Hospitality2024Hospitality2025Unallocated2024Unallocated2025Total2024Total Source
Information about reportable segments
Revenue$’000 173,904189,60899,707105,913––273,611295,521 PDF p. 154
Property operating expenses$’000 (43,529)(48,006)(10,503)(13,480)––(54,032)(61,486) PDF p. 154
Reportable segment net property income$’000 130,375141,60289,20492,433––219,579234,035 PDF p. 154
Depreciation and amortisation$’000 (51)(61)––––(51)(61) PDF p. 154
Finance income$’000 –739––7,437357,437774 PDF p. 154
Finance costs$’000 (44,051)(54,579)(43,718)(51,967)––(87,769)(106,546) PDF p. 154
Expenses$’000 ––––(19,437)(18,421)(19,437)(18,421) PDF p. 154
Net income/(loss)$’000 86,27387,70145,48640,466(12,000)(18,386)119,759109,781 PDF p. 154
Foreign exchange loss$’000 ––––(8,428)(2,351)(8,428)(2,351) PDF p. 154
Net change in fair value of financial derivatives$’000 (479)(3,514)(1,016)(4,300)––(1,495)(7,814) PDF p. 154
Ineffective portion of changes in fair value of cash flow hedges$’000 1,131438(1,640)2,443––(509)2,881 PDF p. 154
Share of results from joint venture$’000 6,39830,484––––6,39830,484 PDF p. 154
Net change in fair value of investment properties$’000 (15,731)(121,557)(60,095)(32,013)––(75,826)(153,570) PDF p. 154
Loss on disposal of a subsidiary$’000 (3,649)(26,427)––––(3,649)(26,427) PDF p. 154
Tax credit/(expense)$’000 1,450(11,891)––(1,097)(1)353(11,892) PDF p. 154
Total return/(loss) for the year$’000 75,393(44,766)(17,265)6,596(21,525)(20,738)36,603(58,908) PDF p. 154
Total assets$’000 3,733,8264,056,4231,823,0861,880,02313,3013,4555,570,2135,939,901 PDF p. 154
Notes

Performance is measured based on segment net property income, as included in the internal management reports reviewed by the Board of Directors of the Manager. Values listed in column order: Commercial 2025, 2024; Hospitality 2025, 2024; Unallocated 2025, 2024; Total 2025, 2024.

By geography

Operating segments - Geographical information (Singapore / China) 17 lines
Operating segments - Geographical information (Singapore / China)
Item / unit 2025Singapore2024Singapore2025China2024China2025Unallocated2024Unallocated2025Total2024Total Source
Geographical information
Revenue$’000 273,611273,266–22,255––273,611295,521 PDF p. 155
Property operating expenses$’000 (54,032)(57,133)–(4,353)––(54,032)(61,486) PDF p. 155
Reportable segment net property income$’000 219,579216,133–17,902––219,579234,035 PDF p. 155
Depreciation and amortisation$’000 (51)(58)–(3)––(51)(61) PDF p. 155
Finance income$’000 4,888352,549739––7,437774 PDF p. 155
Finance costs$’000 (87,769)(106,546)––––(87,769)(106,546) PDF p. 155
Expenses$’000 ––––(19,437)(18,421)(19,437)(18,421) PDF p. 155
Net income/(loss)$’000 136,647109,5642,54918,638(19,437)(18,421)119,759109,781 PDF p. 155
Foreign exchange loss$’000 ––––(8,428)(2,351)(8,428)(2,351) PDF p. 155
Net change in fair value of financial derivatives$’000 (1,495)(7,814)––––(1,495)(7,814) PDF p. 155
Ineffective portion of changes in fair value of cash flow hedges$’000 (509)2,881––––(509)2,881 PDF p. 155
Share of results from joint venture$’000 6,39830,484––––6,39830,484 PDF p. 155
Net change in fair value of investment properties$’000 (75,826)(18,699)–(134,871)––(75,826)(153,570) PDF p. 155
Loss on disposal of a subsidiary$’000 ––(3,649)(26,427)––(3,649)(26,427) PDF p. 155
Tax (expense)/credit$’000 (10,430)(7,750)10,783(4,142)––353(11,892) PDF p. 155
Total return/(loss) for the year$’000 54,785108,6669,683(146,802)(27,865)(20,772)36,603(58,908) PDF p. 155
Total assets$’000 5,557,0545,581,61910,880355,0142,2793,2685,570,2135,939,901 PDF p. 155
Notes

The Group has two reportable segments, which are Singapore and China. The reporting segments operate in different countries and are managed separately because of the differences in operating and regulatory environment. Values listed in column order: Singapore 2025, 2024; China 2025, 2024; Unallocated 2025, 2024; Total 2025, 2024.

Debt

Borrowings

Terms and debt repayment schedule (interest rates, maturity years)

Terms and debt repayment schedule (interest rates, maturity years)
Item / unit 2025Group face value, $'0002025Group carrying amount, $'0002025Trust face value, $'0002025Trust carrying amount, $'000 Source
2025 (nominal interest rate 2.11 – 4.35%, maturity 2026-2029)
Unsecured bank loans$'000 853,000845,869436,000430,059 PDF p. 142
2025 (nominal interest rate 2.75 – 4.10%, maturity 2026-2032)
Unsecured notes$'000 1,000,000996,662–– PDF p. 142
Loan from a subsidiary$'000 ––1,000,000995,945 PDF p. 142
Notes

Nominal interest rate printed in %. 2025 totals: face value 1,853,000 / carrying 1,842,531 (Group); 1,436,000 / 1,426,004 (Trust).

Terms and debt repayment schedule – 2024 comparative

Terms and debt repayment schedule – 2024 comparative
Item / unit 2024Group face value, $'0002024Group carrying amount, $'0002024Trust face value, $'0002024Trust carrying amount, $'000 Source
2024 (nominal interest rate 4.03 – 4.89%, maturity 2025-2029)
Unsecured bank loans$'000 1,163,5001,153,487439,500431,920 PDF p. 142
2024 (nominal interest rate 3.90 – 4.10%, maturity 2025-2031)
Unsecured notes$'000 950,000946,148–– PDF p. 142
Loan from a subsidiary$'000 ––950,000946,148 PDF p. 142
Notes

2024 totals: face value 2,113,500 / carrying 2,099,635 (Group); 1,389,500 / 1,378,068 (Trust). All Singapore dollar amounts.

Contractual maturities – Group (loans and borrowings, lease liability)

Contractual maturities – Group (loans and borrowings, lease liability) — Group
Item / unit 2025carrying amount2025contractual cash flows2025within 1 year2025within 2 to 5 years2025more than 5 years Source
Group 2025 Non-derivative financial liabilities
Loans and borrowings$'000 (1,842,531)(2,027,446)(321,180)(1,240,331)(465,935) PDF p. 158
Lease liability$'000 (22,612)(57,795)(1,020)(4,080)(52,695) PDF p. 158
Notes

Includes estimated interest payments and excludes netting agreements.

Contractual maturities – Group 2024

Contractual maturities – Group 2024 — Group
Item / unit 2024carrying amount2024contractual cash flows2024within 1 year2024within 2 to 5 years2024more than 5 years Source
Group 2024 Non-derivative financial liabilities
Loans and borrowings$'000 (2,099,635)(2,402,182)(202,772)(1,879,088)(320,322) PDF p. 158
Lease liability$'000 (22,716)(58,815)(1,020)(4,080)(53,715) PDF p. 158

Contractual maturities – Trust loans and borrowings

Contractual maturities – Trust loans and borrowings — Trust
Item / unit 2025carrying amount2025contractual cash flows2025within 1 year2025within 2 to 5 years2025more than 5 years Source
Trust 2025 Non-derivative financial liabilities
Loans and borrowings$'000 (1,426,004)(1,589,494)(194,556)(929,003)(465,935) PDF p. 159
Notes

2024 Trust comparative (carrying 1,378,068; contractual 1,597,590; within 1 year 159,629; 2-5 years 1,117,638; >5 years 320,323) is printed on the same page as 'Loans and borrowings (1,378,068) (1,597,590) (159,629) (1,117,638) (320,323)'.

Borrowing notes 2 tables

Loans and borrowings (Group and Trust)

Loans and borrowings (Group and Trust)
Item / unit 2025Group, $'0002024Group, $'0002025Trust, $'0002024Trust, $'000 Source
Loans and borrowings
Unsecured bank loans$'000 853,0001,163,500436,000439,500 PDF p. 142
Unsecured notes$'000 1,000,000950,000–– PDF p. 142
Loan from a subsidiary$'000 ––1,000,000950,000 PDF p. 142
Less: Unamortised transaction costs$'000 (10,469)(13,865)(9,996)(11,432) PDF p. 142
Classified as
Current$'000 249,650115,265149,844105,265 PDF p. 142
Non-current$'000 1,592,8811,984,3701,276,1601,272,803 PDF p. 142
Notes

All borrowings are unsecured; no secured borrowings are listed. Total (after transaction costs) 1,842,531 / 2,099,635 / 1,426,004 / 1,378,068 (unlabelled subtotal row).

Balance sheet borrowings highlights

Balance sheet borrowings highlights
Item / unit 2025Group, as of 31 December 2025 Source
Balance Sheet Highlights
Total Borrowings (S$’000)S$'000 2,168,267 PDF p. 9
Notes

Footnote: includes OUE REIT’s share of OUB Centre Limited’s loan and OUE Allianz Bayfront LLP’s loan. Proportion of unsecured debt 83.0%; fixed rate debt 79.2%.

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Distribution policy OUE REIT’s distribution policy is to distribute at least 90% of its taxable income to its Unitholders on a semi-annual basis, with the actual level of distribution to be determined at the Manager’s discretion. OUE REIT PDF p. 32

Dividends declared and proposed

ItemValuePeriod / scopeSource
Distribution of 0.98 cents per Unit for the period from 1/1/2025 to 30/06/2025 0.98 cents per Unit Group and Trust, FY 2025 first-half distribution (paid in FY 2025) PDF p. 108
On 26 January 2026, the Manager declared a distribution of 1.25 cents per Unit 1.25 cents per Unit FY 2025 second-half distribution, declared as subsequent event · As at 2026-01-26 PDF p. 174
Distribution per Unit (“DPU”) (cents) 2.23 cents FY 2025, Group and Trust (comparative FY 2024: 2.06) PDF p. 108
DPU (cents) 2.06 cents FY 2024 comparative, Group PDF p. 32
Distribution of 0.93 cents per Unit for the period from 1/1/2024 to 30/06/2024 0.93 cents per Unit Group and Trust, FY 2024 first-half distribution PDF p. 108
Distribution of 1.13 cents per Unit for the period from 1/7/2024 to 31/12/2024 1.13 cents per Unit Group and Trust, FY 2024 second-half distribution (paid in 2025) PDF p. 108

Payout

ItemValuePeriod / scopeSource
FY 2025 distribution yield 6.2% FY 2025, based on closing price of S$0.36 PDF p. 32

Extracted from OUE REIT Annual Report 2025 and checked against the cited pages; see the original report for full context.

REIT, bank & sector ratios

Key metrics

REIT metrics

ItemValuePeriod / scopeSource
Aggregate Leverage 38.5% Group, as at 31 December 2025 (comparative 2024: 39.9%) · As at 2025-12-31 PDF p. 172
ICR 2.4 times Group, as at 31 December 2025 (comparative 2024: 2.2 times) · As at 2025-12-31 PDF p. 172
Weighted Average Cost of Debt (% p.a.) 3.9 % p.a. As of 31 December 2025 (prior year 31 December 2024: 4.7% p.a. per text) · As at 2025-12-31 PDF p. 41
Proportion of Fixed Rate Debt (%) 79.2% As of 31 December 2025 · As at 2025-12-31 PDF p. 41
Weighted Average Term of Debt (years) 3.3 years As of 31 December 2025 · As at 2025-12-31 PDF p. 41
committed occupancy 95.4% Singapore office portfolio, as of 31 December 2025 · As at 2025-12-31 PDF p. 36
weighted average lease expiry by GRI 2.2 years Portfolio, as of 31 December 2025 · As at 2025-12-31 PDF p. 34
weighted average lease term to expiry 2.1 years Commercial portfolio (office and retail), as of 31 December 2025 · As at 2025-12-31 PDF p. 35
Net asset value per Unit ($) 0.56 $ Group, as at 31 December 2025 (comparative 2024: 0.58); Trust 0.52 (2025) and 0.52 (2024) · As at 2025-12-31 PDF p. 106
Distribution per Unit (“DPU”) (cents) 2.23 cents Group, year ended 31 December 2025 (comparative 2024: 2.06); Trust same PDF p. 108

Extracted from OUE REIT 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
KPMG LLP KPMG LLP Group and Trust PDF p. 104
Engagement partner Lim Pang Yew, Victor Group and Trust PDF p. 104
Opinion present fairly, in all material respects Group and Trust, year ended 31 December 2025 PDF p. 102

Key audit matters

ItemValuePeriod / scopeSource
Valuation of investment properties The Group’s accounting policy is to state the investment properties at their fair values which are based on independent external valuations. Group PDF p. 102

Extracted from OUE REIT 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 OUE REIT Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Undated dashboard metrics, source blanks, original magnitude suffixes and printed nil amounts are retained explicitly. Earlier original annual-report historical backfill remains incomplete.

Historical original-report backfill remains incomplete.

Property-card fields without an explicit observation date retain a blank year; FY2025 revenue and RevPAR and dated valuation contexts are kept separately.

The report presents Group cash flows; a separate Trust cash flow statement is not disclosed.

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