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ANNUAL GENERAL MEETING 2013 PRESENTATION

Presented by: Mr Kevin XayarajChief Executive Officer & Executive Director

Sabana Real Estate Investment Management Pte. Ltd.

. (Manager of Sabana REIT)

11 April 2013

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“… we wrote about Sabana REIT’s promise

to manage our assets well and create value for our investors. That promise

became even more meaningfulthis year.”

Except from “Message to Unitholders” in Sabana REIT Annual Report 2012

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III. Stellar Financial Performance

I. Overview of Sabana REIT

IV. Diversifying Our Financing

II. Solid Trading Performance

V. Selective Acquisition Strategy

VI. Proactive Portfolio Management

Contents

VI. Outlook

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Overview of Sabana REIT

1 GCC Shari’ah compliance standards refers to the Shari’ah compliance standards applied by The Cooperation Council For The Arab States of The Gulf countries. Thismandates Sabana Shari’ah Compliant REIT to keep the total rental income from lessees, tenants and/or sub-tenants engaging in activities which are non-permissible underthe GCC-Shari’ah investment principles at or below 5.0% of Sabana Shari’ah Compliant REIT’s annual gross revenue.

2 Updated as at 9 January 2013.

Diversified portfolio of 21 industrial properties in Singapore valued at approximatelyS$1.1 billion;

Assigned a ‘BBB-’ long term corporate credit rating and ‘aXA-’ ASEAN scale rating with astable outlook from Standard & Poor’s Rating Services

First listed REIT in the world to be certified with the GCC standard of Shari’ahcompliance1;

The world’s largest Shari’ah compliant listed REIT;

Included in major indices such as the MSCI Singapore Small Cap index and the DowJones Global Index2.

High-tech industrial Warehouse & logistics General industrialChemical warehouse & logistics

Increasing Recognition Internationally

Sabana REIT has won 12 regional/international awards since its IPO. The most recent ones include the following:

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The Gold Standard Award for Corporate Financial

Communications

Most Innovative Asset

Management Company

Best Investor Relations by an

Asset Management Company

Best Domestic Securitization

Equity Deal of the Year

Real Estate Deal for the Year

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Contents

VI. Outlook

Solid Trading Performance in 20121

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S$1.15

1 Based on daily closing prices and volume in 2012. Source: ShareInvestor.2 Closing price on 22 October 2012 which was an all-time high price for Sabana REIT in 2012.

2

Comparative Yields

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1 Based on Sabana REIT’s closing price of S$1.14 as at 31 December 2012 and Annualized DPU for the period from 1 January 2012 to 31 December 2012.2 Source: “S-REIT Table”. OCBC Investment Research. 31 December 2012.3 Prevailing CPF Ordinary Account interest rate as at 31 December 2012.4 Monetary Authority of Singapore (“MAS”) data as at 31 December 2012. Source: MAS website.5 Refers to average rates quoted by 10 leading banks and finance companies for the month of December 2012. MAS website.

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Contents

VI. Outlook

Stellar Financial Performance

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1 Refers to the period from the listing date on 26 November 2010 to 31 December 2012.

0.87

2.17

2.18

2.14

2.17

2.26

2.27

2.34

2.41 18.81

4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 Since IPO

Actual Distribution Per Unit (DPU) (Cents)

1


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FY2012 Quarterly DPU (Cents) Outperforms Both FY2011 And IPO Projections


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FY2012 Results Outperform FY2011 And IPO Projections


For The Financial Year Ended 31 December 2012

1 Based on figures for the Projection Year 2012 as stated in the IPO Prospectus.2 The difference of FY2012 Actual from FY2012 Forecast.3 For the period from 26 Nov 2010 to 31 December 2011.4 The difference of FY2012 from FY2011 Actual.5 DPU and annualised DPU for the period from 1 January 2012 to 31 December 2012 are based on the actual number of units in issue and to be issued of 641,522,917 as at 31

December 2012.6 Based on the last traded price of S$1.15 per unit as at 16 January 2013.

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(in S$'000) FY2012 Actual

FY2012Forecast1

Variance(%)2

FY2011Actual3

Variance(%)4

Gross revenue 81,768 68,889 18.7 76,945 6.3

Net property income (NPI) 76,937 66,155 16.3 73,074 5.3

Income available for distribution 59,395 55,361 7.3 60,603 (2.0)

Distribution per unit (DPU) (in cents)5 9.28 8.67 7.0 9.53 (2.6)

Annualised DPU (in cents) 9.28 8.67 7.0 8.67 7.0

Annualised distribution yield:

IPO price at S$1.05 8.84% 8.25% 7.2 8.26% 7.0

Closing price at S$1.156 8.07% 7.54% 7.0 7.54% 7.0

Financial Performance

• Gross revenue exceededforecast by 18.7% mainly due tocontribution from propertiesacquired in 2011 and 2012. NPIwas 16.3% better than forecastdue to the same reasons.

• Property expenses were 76.7%above forecast, mainly due tohigher property tax, land rent,property and lease managementfees for the acquisitions made postlisting.

• Net financing costs were 70.4%higher than forecast mainly due tothe additional S$144.3m CMFdrawn down in 4Q 2011 and theS$80.0m Convertible Sukuk issuedin 3Q 2012.

• Manager’s fees and Trustee’sfees exceeded forecast by 26.0%and 28.1% respectively, mainlydue to the new acquisitions madein 4Q 2011.

NM denotes “not meaningful”.1 For the period from 1 January 2012 to 31 December 2012.2 Based on figures for the Projection Year 2012 as stated in the IPO Prospectus.3 Comprise the portion of management fees paid in Units, donation of non-Shari’ah compliant income, amortisation of capitalised transaction costs incurred on the CMF and

Convertible Sukuk, straight-lining adjustments on rental income for accounting purposes, amortisation of intangible assets, Trustee’s fees and other expenses which are non-deductible/chargeable for tax purposes.

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For The Financial Year Ended 31 December 2012

(in S$'000) FY2012Actual1

FY2012Forecast2

Variance(%)

Gross revenue 81,768 68,889 18.7Property expenses (4,831) (2,734) (76.7)NPI 76,937 66,155 16.3Net financing costs (17,057) (10,008) (70.4)Amortisation of intangible assets (1,331) (1,312) (1.4)Manager's fees (5,491) (4,358) (26.0)Trustee's fees (447) (349) (28.1)

Donation of non‐Shari'ah compliant income (147) (134) (9.7)

Other trust expenses (1,783) (1,406) (26.8)Net income 50,681 48,588 4.3

Net change in fair value of financial derivatives (1,553) ‐ NM

Distribution adjustments3 (15,049) 6,773 NMDistributable income 59,395 55,361 7.3

Balance Sheet

1 Comprises 640,490,459 units in issue as at 31 December 2012 and 1,032,458 units to be issued to the Manager by 31 January 2013 as partial consideration of Manager’sfees incurred for the period from 1 October 2012 to 31 December 2012.

2 Excludes distributable income of S$15.4m available for distribution for the quarter ended 31 December 2012.

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As at 31 December 2012 S$'000

Investment properties 1,130,943Intangible assets 3,257Other assets 22,338Total assets 1,156,538Debt, at amortised cost 420,800Other liabilities 32,881Total liabilities 453,681Net assets attributable to unitholders 702,857Units in issue1 641,522,917NAV per unit (S$) 1.10Adjusted NAV per unit2 (S$) 1.07

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Contents

VI. Outlook

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Issued S$80.0m in principal amount of 4.5% Convertible Sukuk2 due 2017 on 24September 2012.

Proceeds used to fund the acquisition of 23 Serangoon North Avenue 5 on 1October 2012.

Remaining proceeds used to repay S$18.0m Revolving CMF and the partialsettlement of issuance- and acquisition-related fees and expenses.

Issuance of Convertible

Sukuk

Completed refinancing on 28 August 2012 with S$258.6m of Additional CMF1. Refinanced the Trust’s two- and three-year Term Facilities of S$252.6m due to

mature on 26 November 2013.

Loan refinancing

Diversifying Our Financing

1 Shari’ah compliance as assessed by Independent Shari’ah Committee based on HSBC Amanah Central Shari’ah Committee’s Shari’ah Certification.2 Shari’ah compliance as assessed by the Shari’ah Supervisory Board of Morgan Stanley.

Capital Management Activities In 2012


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Weighted Average Term of Debtas at 31 December 2011 = 2.2 years

Debt Maturity Profile Before CMF Refinancing And Convertible Sukuk Issuance

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Average all-in financing cost1lowered from 4.4% p.a. in 4Q2011 to 4.3%.

Weighted average tenor of debtincreased to approximately 3.2years as at 31 December 2012.2

Created the first Convertible Sukukin Singapore.

Successful issuance offers anadditional source of funding to theTrust.

Aggregate leverage(5) of 37.6% iswithin target.


1 Weight average term of debt was 2.2 years as at 31 December 2011.2 Ratio of total debt and deferred payment over deposited properties as defined in the Property Funds Appendix of the Code on Collective Investment Schemes.

Results of Capital Management Activities In 2012


1 Ratio of total debt and deferred payment over deposited properties as defined in the Property Funds Appendix of the Code on Collective Investment Schemes.2 Inclusive of amortisation of transaction costs.3 Effective financing cost (inclusive of transaction costs capitalised) for Projection Year 2012 is 4.50%.4 Ratio of Net Property Income over interest expense (excluding amortisation and other fees) for the period from 1 October 2012 to 31 December 2012.

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As at 31 December 2012

Borrowings S$432.8m

Aggregate leverage1 37.6%

Average all-in financing cost2,3 4.3%

Outstanding Term CMF S$352.8m

Convertible Sukuk due 2017 S$80.0m

Weighted average tenor of debt 3.2 years

Interest cover4 5.4 times

Capital Structure At A Glance

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Contents

VI. Outlook

Quality portfolio strategically located

Properties are located in high-tech industrial and logistic hubs across Singapore, in close proximity to expressways and public transportation

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Growth History

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2010 2011 2012S$852.0 million

(15 quality properties at IPO)

S$1.0 billion (including additional

five acquisitions)

S$1.1 billion (including one

additional acquisition)

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23 Serangoon North Avenue 5, acquiredon 1 October 2012, is a purpose-built fivestorey high-tech industrial building, with amezzanine level built in 2008. It is easilyaccessible via the Central Expressway andis approximately 12.0 kilometres from thecity centre.

Purchase Price: S$61,000,000

Vendor: Ban Teck Han Enterprise Co Pte Ltd

Valuation by Knight Frank Pte Ltd as at 31

December 2012: S$61,500,000

Land Title: 30 + 20 years 15 days (from 16 Sept

2006)

GFA: 159,384 sq ft

Remaining lease tenure: approx. 44 years (as at 31

December 2012)

Occupancy: 100.0%

Acquisition In 2012

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Contents

VI. Outlook

Proactive Portfolio Management

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1 Weighted by gross revenue.2 Weighted by GFA.

As at 31 December 2012

Total portfolio gross floor area (“GFA”) 4,158,180 sq ft

Portfolio occupancy:

20 properties (18 triple net & 2 single net master leases) 100.0%

1 property, multi-tenanted (9 Tai Seng Drive) 98.4%

Weighted average lease term to expiry1 2.2 years

Weighted average unexpired lease term for the underlying land2 39.3 years

High Occupancy Rates


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1 Based on 15 properties.2 As at 31 December 2012. Includes the acquisition of the properties at 6 Woodlands Loop, 39 Ubi Road 1, 3A Joo Koon Circle, 21 Joo Koon Crescent and 2 Toh Tuck Link in 2011

and 23 Serangoon North Avenue 5 in 2012.

Asset Type By GFA


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1 Based on 15 properties.2 As at 31 December 2012. Includes the acquisition of the properties at 6 Woodlands Loop, 39 Ubi Road 1, 3A Joo Koon Circle, 21 Joo Koon Crescent and 2 Toh Tuck Link in 2011

and 23 Serangoon North Avenue 5 in 2012.

Asset Type By Property Value


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1 As at 31 December 2012, weighted by GFA.

Well distributed, long underlying land leases, with an average of 39.3 years.

10.0%7.0%

‐

17.2%

55.8%

5.7% 4.3%

2032 ‐ 2036 2037 ‐ 2041 2042 ‐2046 2047 ‐2051 2052 ‐ 2056 2057‐ 2061 Beyond 2061

Percentage of Unexpired Land Lease Term By GFA1

Proactive Asset Management

Weighted average lease term to expiry of 2.2 years provides income stability.

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1 As at 31 December 2012, weighted by gross revenue.2 Excludes 9 Tai Seng Drive which is not on a triple net master lease.

Lease Expiry Profile By Gross Revenue1

Quality Assets Attract Quality Tenants

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1 Weighted by sub-tenancy gross rent.

As at31 December

2012

As at31 December

2011

Total net lettable area (“NLA”) (sq ft) 3,305,293 3,165,643

Total number of sub-tenants 148 128

Weighted average lease term to expiry (mths)1 18.7 21.7

Diverse Sub‐tenant Base

No concentration in any single trade sector

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1 As at 31 December 2012.

Logistics16.7%

Others13.3%

Telecommunication & Data Warehousing

14.8%Electronics13.5%

Chemical8.6%

Construction & Utilities2.5%

Storage7.4%

Info Technology7.5%

General Manufacturing Industries

3.2%

Engineering4.8%

F&B2.9%

R&D1.8%

Healthcare3.0%

Sub‐tenants’ Industry Diversification By NLA1

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Contents

VI. Outlook

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Outlook

Seller’s Stamp Duty (“SSD”) to discourage short-term speculative activity• The Singapore Government’s recently introduced SSD on industrial property will apply for

industrial properties and land bought on or after 12 January 2013.3

• The new SSD could potentially weed out speculators and moderate industrial property prices,particularly strata-title units.

• The impact on Sabana Shari’ah Compliant REIT is not expected to be significant as it holds itsproperties for investment purposes on a long term basis.

Industrial Property Sector

Slower economic growth ahead• According to Ministry of Trade & Industry, the Singapore economy grew by 1.2% in 2012,

slightly lower than MTI’s growth forecast of around 1.5%.1

• As for 2013, the government forecast GDP growth of 1% to 3%.2

SingaporeEconomy

Plenty of room for growth• The Manager will continue to grow Sabana REIT portfolio through selective acquisitions.• We will also evaluate opportunities for asset enhancement initiatives.• We will continue to attract investors in Singapore and globally through our product

differentiation and most importantly, our track record in meeting our goals.

The Trust

Sources:1 “Singapore’s GDP Grew 1.1 Per Cent in the Fourth Quarter of 2012”. www.mti.com.sg. Ministry of Trade and Industry. 2 January 2013.Web. 7 January 2013.2 “Manage Growth Expectations”. www.asiaone.com. 4 January 2013. Web. 8 January 2013.3 “Additional Measure to Ensure a Stable and Sustainable Property Market. www.ura.gov.sg. Urban Redevelopment Authority. 11 January 2013. Web. 16 January 2013.

Sabana Real Estate Investment Management Pte. Ltd.151 Lorong Chuan#02-03 New Tech ParkSingapore 556741

www.sabana-reit.com

Tel: +65 6580 7750Fax: +65 6280 4700

For enquires, please contact:

Mr Bobby TayChief Strategy Officer & Head of Investor RelationsTel: +65 6580 7750Email: [email protected]

Ms Grace ChenManager, Investor RelationsTel: +65 6580 7857Email: [email protected]

Thank You

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Important Notice

This presentation is for information only and does not constitute an offer, invitation or solicitation of securitiesin Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon inconnection with, any contract or commitment whatsoever.

The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of,deposits in, or guaranteed by, the Manager, HSBC Institutional Trust Services (Singapore) Limited, as trusteeof Sabana Shari’ah Compliant Industrial Real Estate Investment Trust, Freight Links Express Holdings Limited,the Joint Bookrunners or any of their respective affiliates.

An investment in the Units is subject to investment risks, including the possible loss of the principal amountinvested. Investors have no right to request that the Manager redeem or purchase their Units while the Unitsare listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing ofthe Units on the SGX-ST does not guarantee a liquid market for the Units.

This presentation is not an offer or sale of the Units in the United States. The Units have not been and will notbe registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may notbe offered or sold in the United States absent registration except pursuant to an exemption from, or in atransaction not subject to, registration under the Securities Act. Any public offering of the Units to be made inthe United States will be made by means of a prospectus that may be obtained from the Manager or SabanaShari’ah Compliant Industrial Real Estate Investment Trust and that will contain detailed information aboutSabana Shari’ah Compliant Industrial Real Estate Investment Trust, the Manager and its management, as wellas financial statements. Sabana Shari’ah Compliant Industrial Real Estate Investment Trust does not intend toregister any portion of the offering in the United States or to conduct a public offering of securities in theUnited States. Accordingly, the Units are being offered and sold outside the United States (including toinstitutional and other investors in Singapore) in reliance on Regulation S under the Securities Act.

This presentation is not to be distributed or circulated outside of Singapore. Any failure to comply with thisrestriction may constitute a violation of United States securities laws or the laws of any other jurisdiction.

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