NTT DC REIT (NTDU) Investor presentation summary

1H FY26/27 financial performance

• Gross revenue US$119.8m, 2.0% above IPO projection; net property income US$55.8m, 4.9% above projection.

• Net property income outperformance reflected higher tenant fit-out activity, lower real estate taxes and favourable FX impact.

• Distributable income US$45.0m and DPU 4.32 US cents, both 10.0% above IPO projection.

• Net finance costs US$10.4m, 5.5% below projection; tenant expansion contracts expected to contribute more meaningfully from 3Q FY26/27.

Portfolio and leasing

• Six assets across the U.S., EMEA and APAC; 90.7 MW design IT load, US$1.67bn portfolio value, 4.0-year WALE and 81.2% freehold assets.

• Occupancy rose 1.6 ppt from June to 97.5% by IT load at 30 September 2026; committed occupancy was 98.1%.

• Rental reversion was 11.7%, driven by 23% reversion on the SG1 NTT Master Services Agreement renewal; secured renewals carried US$903k monthly base rent.

• Fixed rental escalations cover 84.3% of leases and average 3.1% p.a.; customer mix was 52% colocation and 48% hyperscale.

Capital management

• Aggregate leverage 29.9%, weighted average cost of debt 3.80%, fixed-rate debt 68.4% and interest coverage ratio 4.6x at 30 September 2026.

• All assets were unencumbered, with no loan maturities until FY28/29 and two 12-month extension options available.

• Total debt was US$528m; headroom to 40.0% leverage was US$298m, assuming debt growth is matched by an equivalent increase in total assets.