23 For the Financial Year FY2021 FY2022 FY2023 FY2024 FY2025 Gross Revenue (S$ million) 241.3 343.2 386.4 370.5 44.0 Net Property Income (S$ million) 173.3 244.2 273.2 261.7 32.7 Total Assets (S$ million) 3,329.8 5,654.2 5,106.3 6,007.4 5,4. Amount Available for Distribution to Unitholders (S$ million) 114.4 177.1 192.7 164.1 17.1 DPU (cents)2 29.870 30.000 25.640 21.190 21.914 NAV per Unit (S$)2 3.96 3.64 3.20 2.75 2.55 Financial Position Total Assets (S$ million) 3,329.8 5,654.2 5,106.3 6,007.4 5,4. Total Net Borrowings (S$ million) 1,190.9 2,076.1 1,555.9 2,254.0 2,224. Unitholders’ Funds (S$ million) 1,598.0 2,444.7 2,463.2 2,213.9 2,055. Key Financial Ratios Debt to Total Assets (%) 40.0 41.8 35.7 42.8 43.4 Weighted Average All-in Cost of Debt (p.a.) (%) 3.3 3.7 3.9 3.8 3.4 Interest Coverage Ratio (times)3 3.0 2.8 2.5 2.5 2.5 Capital Management Total Loan Facilities Available (S$ million) 1,462.4 2,413.4 1,847.1 2,505.5 2,397.1 Gross Borrowings (S$ million) 1,199.5 2,093.0 1,566.2 2,269.7 2,23.1 Perpetual Securities Issued (S$ million) 150.0 400.0 300.0 400.0 449. Units in Issue (million)2 403.0 671.9 768.9 804.9 05.0 Market Capitalisation (S$ million)4 1,934.5 2,486.1 2,460.5 2,052.5 2,11. Trading Statistics for the Financial Year Opening Price (S$)5 4.050 4.800 3.700 3.200 2.550 Highest Price (S$)2 5.100 4.850 3.850 3.250 2.920 Lowest Price (S$)2 3.750 3.200 2.500 2.500 2.000 Closing Price (S$)2 4.800 3.700 3.200 2.550 2.710 Volume Weighted Average Price (S$)5 4.460 3.970 3.180 2.857 2.500 Total Volume Traded (million Units)5 246.1 254.4 269.6 291.7 307.4 Average Daily Trading Volume (million Units)5 1.0 1.0 1.1 1.2 1.2 Total Return (%)6 30.0 -16.8 -6.5 -13.7 15.1 2 Comparative figures for FY2021 to FY2024 are adjusted for the 10:1 Unit consolidation completed on 5 May 2025 to provide for a like-for-like comparison. 3 Computed by dividing the trailing 12 months earnings before interest, tax, depreciation and amortisation (excluding effects of any fair value changes of derivatives and investment properties, and foreign exchange translation), by the trailing 12 months interest expense. Interest expense includes amortisation of debt-related transaction costs and distributions to perpetual securities, but excludes finance costs on lease liabilities under FRS 116. 4 Computed based on closing price and Units in issue at the end of the financial year. 5 The FY2025 figure and the comparative figures for FY2021 to FY2024 are adjusted for the 10:1 Unit consolidation completed on 5 May 2025 to provide for a like-for-like comparison. 6 Performance is calculated on the change in unit price over the year, based on the closing price of the last day of the preceding year and the closing price of the current year, including the assumption that distributions paid were reinvested at the closing price on the ex-distribution date. ESR-REIT ANNUAL REPORT 2025
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