ESR-REIT Annual Report 2024 201 DISTRIBUTION STATEMENT For the financial year ended 31 December 2024 Group 2024 2023 $’000 $’000 Total loss after income tax, before distribution for the year (127,779) (67,449) Add: Distribution adjustments (Note A) 297,156 243,938 169,377 176,489 Amount reserved for distributions to perpetual securities holders (20,277) (18,198) Net income available for distribution to Unitholders 149,100 158,291 Total amount available for distribution comprising: – Taxable income 149,100 158,291 – Tax-exempt income 3,393 4,084 – Capital distribution 11,571 30,323 164,064 192,698 Less: Distributions (Note B) (86,231) (101,508) Net amount available for distribution to Unitholders as at 31 December 77,833 91,190 Note A — Distribution adjustments Non-tax deductible/(chargeable) items and other adjustments: Management fees paid/payable in Units 11,460 12,352 Property Manager’s fees paid/payable in Units 2,940 3,200 Trustee’s fees 665 956 Financing related costs, including amortisation of debt related costs 11,538 12,768 Unrealised foreign exchange (gain)/loss (4,155) 1,435 Change in fair value of investments at FVTPL 26,796 39,839 Change in fair value of investment properties 220,180 166,818 Change in fair value of financial derivatives 6,559 16,346 Legal and professional fees 91 1,164 Adjustment for straight-line rent and lease incentives (1,824) (2,947) Miscellaneous expenses 5,173 202 Share of results of joint venture (2,842) (3,876) Distributable income from joint venture 4,214 3,876 Deferred tax expense/(credit) 4,272 (2,133) Non-controlling interest share of non-tax deductible items 15,409 (519) Interest income from subsidiary that was capitalised – 1,053 Rollover adjustments from prior years 1,461 (36) Tax interest adjustments 359 72 Net tax adjustments for income from subsidiaries and investments at FVTPL (5,140) (6,632) Net effect of distribution adjustments 297,156 243,938 The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
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