165 ANNUAL REPORT 2025 Description of property Location Tenure of land Fair value as at 31 December 2025 Percentage of total net assets as at 31 December 2025 Fair value as at 31 December 2024 Percentage of total net assets as at 31 December 2024 US$’000 % US$’000 % Grocery & Necessity Properties Hudson Valley Plaza New York Freehold 34,500 7.7 27,900 (1) 6.3 Albany – Gas Station New York Freehold 4,400 1.0 4,410 1.0 Towne Crossing New Jersey Freehold 17,600 3.9 18,400 4.2 Lynncroft Center North Carolina Freehold 35,250 7.9 31,700 7.1 Garden City Square – BJ’s Wholesale Club New York Freehold 56,300 12.6 57,800 13.0 Garden City Square – LA Fitness New York Freehold 23,600 5.3 22,200 5.0 Price Chopper Plaza New York Freehold 21,000 4.7 20,500 4.6 Piscataway Plaza New Jersey Freehold 25,000 5.6 24,100 5.4 Fairhaven Plaza Massachusetts Freehold 20,500 4.6 20,600 4.6 Wallington ShopRite New Jersey Leasehold (2) 16,200 3.6 15,500 3.5 Parkway Crossing Maryland Freehold 31,500 7.0 30,500 6.9 Wallkill Price Chopper New York Freehold 12,400 2.8 12,800 2.9 St. Lucie West Florida Freehold 107,200 24.0 101,000 22.8 BJ’s Quincy Massachusetts Freehold 33,700 7.5 32,500 7.3 Arundel Plaza Maryland Freehold 47,400 10.6 49,500 11.2 Lawnside Commons New Jersey Freehold 37,300 8.3 33,600 7.6 Colonial Square Virginia Freehold 28,600 6.4 26,500 6.0 Penrose Plaza Pennsylvania Freehold 58,000 13.0 56,150 12.7 Upland Square Pennsylvania Freehold 91,900 20.5 91,500 20.6 Dover Marketplace (3) Pennsylvania Freehold 17,200 3.8 - - Self-Storage Properties Carteret Self-Storage New Jersey Freehold 24,800 5.5 22,100 5.0 Millburn Self-Storage New Jersey Freehold 29,900 6.7 29,800 6.7 Investment properties, at valuation (Note 7) 774,250 173.0 729,060 164.4 Investment property – Right-of-use asset (Note 7) 19,838 4.5 20,812 4.7 Investment properties, at carrying value (Note 7) 794,088 177.5 749,872 169.1 Investment property held for divestment - - 23,800 (4) 5.4 Investment properties and investment property held for divestment, at carrying value (5) (Note 7) 794,088 177.5 773,672 174.5 Other assets and liabilities (net) (346,757) (77.5) (330,302) (74.5) Net assets 447,331 100.0 443,370 100.0 Footnotes: (1) Lowe’s and Sam’s Club Building within Hudson Valley Plaza were divested in August 2024. (2) The Wallington ShopRite property consists of a leasehold interest under a ground lease between the Group and the landlord, Wallington Plaza, L.L.C., with an initial term that commenced on 30 May 2013 and will expire on 24 June 2040. The tenant has two ten-year renewal options that would take the term through 24 June 2060. (3) Dover Marketplace was acquired on 1 August 2025. (4) As at 31 December 2024, Albany Supermarket was classified as an investment property held for divestment and the divestment was completed on 17 January 2025. (5) The carrying value of the Group’s investment properties and investment property held for divestment as at 31 December 2025 was based on the independent valuation as at 31 December 2025 undertaken by Cushman & Wakefield, Inc. and Newmark Valuation & Advisory, LLC (2024: CBRE, Inc. and Newmark Valuation & Advisory, LLC), taking into account capital expenditure, tenant improvements, leasing costs and amortisation of right-of-use asset recognised during the financial year. Portfolio Statement As at 31 December 2025
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