24 Unit Price Performance TRADING PERFORMANCE IN FY2025 In FY2025, the global economy continued to navigate a challenging landscape marked by persistent inflationary pressures, geopolitical tensions, and ambiguity in the interest rate environment. These conditions contributed to ongoing market volatility and weighed on business confidence, with direct implications for the Singapore REIT sector, particularly in the areas of financing costs, asset valuations, and capital market sentiment. Amid these headwinds, Singapore’s economy remained resilient, expanding by 5.0% in 2025, with growth expected to moderate to 2.0-4.0% in 2026, according to the Ministry of Trade and Industry1. ESR-REIT’s closing unit price was S$2.710 as at 31 December 2025, with one year volume weighted average price of S$2.5002 as at 31 December 2025. ESR-REIT’s market capitalisation was approximately S$2.2 billion as at 31 December 2025, as compared to S$2.1 billion as at 31 December 2024. Additionally, average daily traded volume for FY2025 increased slightly to 1.22 million from 1.16 million2 in FY2024. 1 Ministry of Trade and Industry Singapore. 10 February 2026, MTI Upgrades 2026 GDP Growth Forecast to “2.0 to 4.0 Per Cent” https://www.mti. gov.sg/newsroom/mti-upgrades-2026-gdp-growth-forecast-to--2-0-to-4-0-per-cent-/ 2 Adjusted for the 10:1 Unit consolidation completed on 5 May 2025 3 Adjusted for the 10:1 Unit consolidation completed on 5 May 2025 to provide for a like-for-like comparison Distribution per Unit (“DPU”) for FY2025 was 21.914 Singapore cents, translating to a distribution yield of approximately 8.1% based on the closing unit price of S$2.710 as at 31 December 2025. Attractive Yield (%) (As at 31 December 2025) FY2025 Distribution Yield 8.1% 4.7% 2.2% ESR-REIT FTSE Real Estate STI FTSE ST REIT FTSE ST REIT 12M Yield Singapore Government 10Y Bond Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Sep 2025 Oct 2025 Nov 2025 Dec 2025 130% 120% 110% 100% 90% 80% 70% Trading Data Across Five Years3 COMPARATIVE TRADING PERFORMANCE FY2025 2025 2024 2023 2022 2021 Opening Price on First Trading Day of Year (S$) 2.550 3.200 3.700 4.800 4.050 Closing Price on Last Trading Day of Year (S$) 2.710 2.550 3.200 3.700 4.800 Highest (S$) 2.920 3.250 3.850 4.850 5.100 Lowest (S$) 2.000 2.500 2.500 3.200 3.750 Volume Weighted Average Price (S$) 2.500 2.857 3.180 3.970 4.460 Total Trading Volume (million Units) 307.4 291.7 269.6 254.4 246.1 Average Daily Trading Volume (million Units) 1.2 1.2 1.1 1.0 1.0 ESR-REIT ANNUAL REPORT 2025
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