EFTA00807378.pdf

Malaysia Project — Pavilion Group February 2019 Private & Confidential EFTA00807378 Notice and Disclaimer • This memorandum contains confidential information, and is only being made available on the basis that it will be held in complete confidence. By accepting this memorandum, the recipient agrees that it will: • not (except to its employees and advisers strictly on a need to basis) disclose any such confidential information to any other person; and • promptly return this memorandum, and any other written confidential information, together with all copies thereof, to us upon our request. • This memorandum may contain forward looking statements that relate to prospective investment opportunities and strategies. These have been compiled from sources believed to be reliable. Any estimates, projections, targets or forecasts contained herein involve elements of subjective judgment and analysis which cannot however be warranted, and may be subject to change following a formal due diligence exercise. • The recipient, in further pursuing the matters described herein, is advised to make their own independent investigations and verification of such information and any other related information that may be considered relevant or appropriate. EFTA00807379 Investment Opportunities A unique opportunity to invest in the real estate sector in Malaysia Pavilion Group is pleased to present to you an opportunity to invest in the promising real estate sector of Malaysia. PAVILION Pavilion Group ("Pavilion") is a renowned Malaysian property developer in Malaysia and a portfolio encompassing successful large scale mixed-use real estate developments. • Malaysia boast of strong long-term economic fundamentals that pave the way for future positive real estate growth in key The Markets areas where the fund will have an exposure Financing • Pavilion Group targets to raise USD 250M and provide an above-market Target IRR of [11%] to the investors over a period Requirement of 4 to 5 years. EFTA00807380  PAVILION GROUP Pavilion Group is a Malaysia-based property developer that focuses developing premium, large-scale retail and integrated mixed use developments in prime city center locations in Malaysia and China. INVESTMENT PAVILION PLANNING RLIT DESIGN PAVILION GROUP ASSET DEVELOPMENT MANAGEMENT MANAGEMENT PROJECT LEASING MARKETING EFTA00807381  PAVILION GROUP STRUCTURE 7 Tan Sri Desmond Lim Public Listed Companies Pavilion Development Portfolio 1 I [ Mallon Group (38%) Mkt cap RM 260m Joint Ventures • Pavilion Bukit Jail Other, • Duta Park • River Park • SK One Residences • Pavilion Hill (RM1.1 b) • Pavilion TTDI • Pavilion Square I, • 11.3 b) • Pavilion Ceylon (RM1.0 b) Pavilion (10%) with • Pavilion Genting' RI116.6 b) Pavilion REIT (37%) Pavilion(51%)/QIA Pavilion(51%)/CPPIB Mkt Cap RM4.8 h 1 QIA/CPPIB Pavi Pavilion I • Pavilion Kuala Lumpur Pavilion Dalian • Crabtree & Evelyn Big Cl DamansamAtights • Pavilion Tower (30%) • Da men Mall • Intermark Mall I I • Elite Pavilion Mall T • Pavilion Banyan Hotel & Reside • Pavilion Ho • Pavilion S (RM1.4 b) M455m) (RM1.6 b) • • • • Pavilion DH Mall 10 Office towers 5 Residence Towers 1 Hotel Pavilion Dalian Mall 1 WCT Berhad (19%) Mkt Cap RM1.1 h • Fahrenhei (RM550m) 4th largest construction company in Malaysia EFTA00807382  TRACK RECORD ❖ The Pavilion Group is led by Tan Sri Desmond Lim. Tan Sri Desmond Lim has a distinguished track record as a successful entrepreneur. Tan Sri Desmond Lim was educated in both England and the United States of America, brings over 25 years' experience as a corporate leader and real estate developer. ❖ Tan Sri Desmond Lim is the founder of Malton Group, a Main Board public listed company on the Bursa Malaysia. He leads and manages all Malton Group's activities in the urban development sector with major master planned communities and residential projects. ❖ Tan Sri Desmond Lim also founded the Pavilion Group— a developer of mega integrated urban retail, commercial and residential development. ❖ The flagship development is the USD1.5 billion Pavilion Kuala Lumpur, a major integrated urban retail, commercial and residential development in the heart of Golden Triangle of Kuala Lumpur which was completed in September 2007. ❖ Pavilion Kuala Lumpur was floated as a REIT in Malaysia in November 2011. Pavilion REIT IPO was launched at RM0.88 per unit and is now trading at RM1.77 per unit — a 100% increase in capital value. rasa. r et,' —• r Fr. ' Pavilion Kuala Lumpur Fahrentheit 88 Pavilion Banyan Pavilion Hilltop Pavilion Hotel Pavilion Suites Pavilion Dalian (Retail & Residences) (Retail & Office) Tree Signatures (Residences) (Hotel) (Retail & (China) Completion: 2007 Completion: 2010 (Hotel & Completion: 2018 Completion: 2018 Residences) (Retail) Residences) Completion: 2018 Completion: 2015 Completion: 2016 EFTA00807383  PAVILION Financial Summary DAMANSARA HEIGHTS KUALA LUMPUR Project Description Equity: USD176.0 mil [51%] Name: Pavilion Damansara Heights Total GDV: USD2,172.3 mil GFA: 6.8 mil sf Total Returns: USD440.6 mil NFA: 4.9 mil sf Project IRR: 13% Land size: 15.93 acres Plot Ratio: 10.0x Property positioning Geographic Location Upper Middle Market Damansara Heights, Kuala Lumpur Mixed Development comprising:- 1) 5 blocks of Residential Tower Status Strategically located within one of the (NLA: 2.9 million sq ft) most prime commercial locations and 2) 10 blocks of Office Tower (NLA: Phase 1 - Construction on-going. Targeted affluent neighborhoods which include 1.2 million sq ft) completion by September 2021. Bangsar, Damansara Heights, Sri 3) Retail Mall (NLA of 1.1 million sq Hartamas, Mont Kiara, Kenny Hills and ft) Phase 2 — Construction just started. Targeted Taman Duta. completion by March 2023. USD 1 = RM4.063 as at 1412019 EFTA00807384 EFTA00807385 Financial Summary PAVILION Project Description Equity: USD53.1 mil [26%] Name: Pavilion Bukit Jalil Total GDV: USD771.8 mil GFA: 3.3 mil sf Total Returns: USD370.9 mil NFA: 1.8 mil sf Project IRR: 17% Land size: 28.2 acres Property positioning Geographic Location Upper Middle Market Bukit lalil, Kuala Lumpur A 1.8 million sq ft super regional shopping mall. A suburb of Kuala Lumpur, Malaysia. Status Targeted opening by June 2021. Bukit Jalil Recreational Park and Bukit Jalil National Sport Complex are located Construction on-going. Targeted to the east of the site. completion by December 2020. USD 1 = RM4.063 as at 14.2.2019 EFTA00807386  The Park The Park 2 • 1,098 units (residential) • 709 units (residential) • 44 retail shop units Commercial Development & 680 residential units National Reserved Park Not to be developed Signature Shops • 112 units (completed in June 2017) Pavilion Bukit Jalil Mall • 1.8m sqft retail NLA EFTA00807387 Financial Summary Equity: USD181.0 mil [100%] PAVILION 2 Project Description Name: Pavilion 2 Total GDV: USD1,356.6 mil GFA: 2.9 mil sf Total Returns: USD346.0 mil NFA: 2.0 mil sf Project IRR: 16.6% Land size: 3.56 acres Plot Ratio: 18.5x Property positioning Geographic Location Upper Middle Market Mixed Development comprising:- Jalan Raja Chulan, Kuala Lumpur 1) Tower A (72-Level Serviced Apartment) Strategically located within the prime 2) Tower B (45-Level Serviced I Status financial and commercial precinct of Apartments) Kuala Lumpur known as the "Golden 3) 4 levels of Retail Mall with NLA Negotiation for land acquisition is on-going. Triangle". of 161,000 sq ft USD 1 = RM4.063 as at 14.12019 EFTA00807388 BIG CITY by Pavilion Development STA_Y_CONNECTED WITHIN A COMPIEITIN INTEGRATED CLUSTER OF LANDMARK DEVELOPMENTS RIGHT IN THE HEART OF KUALA - _ Its PAVILION PAVILION BANYAN TREE PAVILION SQUARE A' e.# ::::::••• PAVILION HOTEL EFTA00807389  AFFILIATES PAVILION PAVILION DAMANSARA HEIGHTS BUKIT JAL I L KUALA LUMPUR Maybank OCBC Bank ig CIMB BANK gMaybank eOCBC Bank j a Darla Mill 1111- U0B SW " UOB A" gCIMB BANK ij#U0B 'of Phase 1 - Syndicated Financing Phase 2 - Syndicated Financing Syndicated Financing Facilities Facilities of RM1,099.9 million Facilities of RM750.0 million of RM1,117.5 million Contractors/Consultants KL PAVILION T dopiciin ECONPILE HOLDINGS BERHAD KONZEPTE ,c1ARCADIS DESIGN STUDIO DR Y G TAN JURUTERA PERUNDING SDN BHD JU BC SUN MID • YONG DAN NIOHAMAD FAIZ SDN BHD Li-Zainal S7CFA 4p GIEEN MOON BIGIEBING SINIn cr-'----- DLC ENGINEERS SON BHD SSP (E&M) SDN BHD Consulting Engineers EFTA00807390  FINANCIAL SUMMARY Project Pavilion Damansara Pavilion Bukit Jalil Pavilion 2 Heights Total GDV (in USD'm) 2,172.3 771.8 1,356.6 Total Projects Returns (in USD'm) 440.6 370.9 346.0 Total Projects Returns (in USD'm) 224.7 [51%] 96.4 [26%] 346.0 [100%] - Based on Sponsor's equity stake Total Equity Required (in USD'm) 176.0 53.1 181.0 Loan Tenure 4 years 4 years 5 years Loan Size (in USD'm) 100.0 50.0 100.0 IRR 11% 11% 11% Total Returns to Investor (in USD'm) 152.0 76.0 168.0 EFTA00807391 Thank You EFTA00807392