179 ANNUAL REPORT 2025 Notes to the Financial Statements For the financial year ended 31 December 2025 2 MATERIAL ACCOUNTING POLICY INFORMATION (CONT’D) 2.12 Foreign currency transactions and translation The consolidated financial statements of the Group and the statement of financial position and statement of changes in equity of the Trust are presented in United States Dollars (“US$” or “USD”), which is the functional currency of the Trust and the presentation currency for the consolidated financial statements. All financial information presented has been rounded to the nearest thousand (US$’000), unless otherwise stated. Transactions in foreign currencies are translated to the respective functional currencies of the Trust’s entities at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate at the reporting date. The foreign currency gain or loss on monetary items is the difference between amortised cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the amortised cost in foreign currency translated at the exchange rate at the end of the reporting year. Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are translated to the functional currency at the exchange rate at the date on which the fair value was determined. Non-monetary items in a foreign currency that are measured in terms of historical costs are translated using the exchange rate at the date of the transaction. Foreign currency differences arising from translation are recognised in profit or loss. 2.13 Unitholders’ funds Unitholders’ funds are classified as equity. Issuance costs relate to expenses incurred in connection with the issue of Units. These expenses are deducted directly against Unitholders’ funds. 2.14 Distribution policy UHREIT’s distribution policy is to distribute at least 90.0% of its annual distributable income for each financial year. The actual level of distribution will be determined at the discretion of the Board of Directors of the Manager. 2.15 Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to Management who is responsible for allocating resources and assessing performance of the operating segments. 2.16 Cash and cash equivalents in the statement of cash flows Cash and cash equivalents comprise cash at bank that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.
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