50 Operations Review Portfolio Top 10 Tenants ESR-REIT’s gross rental income is well-spread across its portfolio of 382 tenants. The top 10 tenants account for 33.5% by gross rental income and 34.6% by NLA. As at 31 December 2025, excluding REC Solar Pte. Ltd., no single tenant contributed more than 5.0% of the portfolio’s total gross rental income. The Manager will continue to diversify its tenant mix across trade sectors to mitigate concentration risk and to enhance portfolio resilience. Portfolio Trade Sector Analysis ESR-REIT’s portfolio is well-diversified across various industries including logistics & warehousing, manufacturing, electronics, info-comm & technology, lifestyle, general & precision engineering amongst others. As at 31 December 2025, logistics & warehousing remained the largest contributor to gross rental income at 43.9% of the total portfolio. Manufacturing remained the second largest contributor at 15.9% while electronics made up about 8.6% of portfolio gross rental income. Collectively, the top three largest trade sectors made up approximately 68.4% of the portfolio. Top 10 Tenants Trade Sector % of Gross Rental Income REC Solar Pte. Ltd. Manufacturing ACFS Port Logistics Pty Ltd Logistics & Warehousing DHL Supply Chain Singapore Pte Ltd Logistics & Warehousing DSV Contract Logistics Pte. Ltd. (f.k.a Schenker Singapore (Pte) Ltd) Logistics & Warehousing ST Engineering Synthesis Pte. Ltd. Logistics & Warehousing ams-OSRAM Asia Pacific Pte. Ltd. Manufacturing Data Centre Operator17 Info-Comm & Technology Ceva Logistics Solutions Singapore Pte. Ltd. Logistics & Warehousing Venture Corporation Limited Electronics Grocery Logistics of Singapore Pte Ltd Logistics & Warehousing 43.9% Logistics & Warehouse 15.9% Manufacturing 8.6% Electronics 7.3% Info-Comm & Technology 7.2% General & Precision Engineering 3.3% Lifestyle 2.3% Data Centre 1.8% Construction 1.9% Others 1.1% Research & Development 0.9% Healthcare 0.8% Childcare & Education 0.5% Self-Storage 2.3% Retail 2.2% Food & Beverage 17 Tenant not named due to confidentiality reasons. 2.1% 2.4% 2.6% 3.0% 4.1% 4.6% 9.5% 2.1% 1.8% 1.3% ESR-REIT ANNUAL REPORT 2025
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