Parkway Life Real Estate Investment Trust (C2PU) Investor Presentation summary

Growth strategy and market expansion

• Focus on strengthening Singapore as the core market while building a third key market in Europe and the UK for diversification and resilience.

• Portfolio value has grown nearly threefold since IPO, driven by accretive acquisitions in Japan and now France.

• Entry into France marks the establishment of Europe as a third key market, leveraging favorable sector and demographic trends.

• Strategic partnerships are emphasized to support collaborative growth and expansion.

France acquisition transaction summary

• Acquiring 100% interest in 11 freehold nursing homes in France for €111.2m (S$159.9m), with a total outlay of €120.3m (S$172.9m).

• Properties will be operated by DomusVi Group under a 12-year sale and leaseback with indexed rent escalations.

• All properties are fully occupied, totaling 850 beds, and are strategically located across France.

• Acquisition is fully funded by an equity fund raising via private placement.

• Completion expected in 4Q2024.

Acquisition rationale and sector trends

• France's aging population and supply constraints in nursing homes create strong demand and high barriers to entry.

• Government support for aged care reduces operational risk, with significant subsidies and high occupancy rates.

• The sector is highly fragmented, offering consolidation opportunities; DomusVi is a leading operator.

• The acquisition rejuvenates and diversifies the portfolio by geography and asset type, reducing revenue concentration risk.

• Immediate accretion to DPU and NAV per unit is expected on a pro forma basis.