➢ Singapore hospitals continue to underpin the organic rental growth for PLife REIT with Annual RentReview Formula1 applicable to rental contributions from FY2026 onwards:
▪ Minimum rent set to increase from $79.7 million in FY2025 to $99.1 million in FY2026, based on CPI-linked escalation (i.e. CPI fixed at 0.9% + 1% guaranteed annual growth); and
▪ Additional uplift of $0.9 million for Q2 2026 (Q1 2026: $0.8 million), bringing 1H 2026 total uplift to$1.7 million driven by outperformance under the revenue sharing formula from Gleneagles Hospitaland Parkway East Hospital. Revenue sharing for 2H 2026 (if any) will be finalised and reported in thenext quarter.
➢ In accordance with prevailing accounting standards, the impact of the step-up lease arrangement overthe past three years, including the 1% guaranteed annual growth for the Singapore portfolio, has beenstraight-lined over the lease term and consistently applied since August 2022. Accordingly, thearrangement does not result in any year-on-year movement in revenue. Any increase in revenue for theperiod will therefore arise solely from additional rent attributable to CPI adjustments and revenue-sharing arrangements.
➢ Overall, lower revenue year-on-year was attributed to the Japan portfolio mainly due to JPY FXdepreciation and tenant exit affecting five Japan nursing home properties. Given the REIT has hedged itsnet income from Japan, the lower revenue will be compensated by FX gains realised upon settlement ofthe forward contracts. Gross revenue 115.1m, down 1.9%.
DI and DPU is up.
➢ Amount available for distribution (determined by actual cashflow receipts) grew 15.6% primarily drivenby higher rental receipts from the Singapore hospitals’ Annual Rent Review formula and step-up leasearrangement from the France portfolio.
➢ However, any additional DI arising from the outperformance of the Singapore assets will only bedetermined when the full year revenue is finalised. Hence, the distribution (if any) will be distributedin 2H 2026. Correspondingly, the DI and DPU growth for YTD 3Q 2026 is at 13.4% (withoutoutperformance contribution).S$85.5 million(based on minimum rent) 1. As at 30 September 2026. DPU is up 13.4% to 13.10 cents.
Gearing 34.8%. ICR 7.9x.




















































