Unaudited Results of Keppel REIT for the Second Quarter and Half Year Ended 30 June 2014

Keppel REIT's Distributable Income for 1H 2014 grew 3.0% year-on-year
Achieved distribution yield of 6.1%

• Property income rose 14.0% year-on-year ("y-o-y") to $94.1 million for 1H 2014 due to improved performance from Ocean Financial Centre and Prudential Tower, as well as additional income from 8 Exhibition Street in Melbourne, which was acquired in August 2013.
• Net property income increased 18.0% y-o-y to $78.7 million.
• Distributable income rose to $108.3 million, an increase of 3.0% y-o-y.
• Distribution per unit ("DPU") of 1.90 cents for 2Q 2014, making it 3.87 cents for 1H 2014.
• Divestment of 92.8% interest in Prudential Tower for $512 million announced, which is 4.5% above the property's valuation of $490 million and a 46.7% premium over the original purchase price.
• Completed successfully the early renewal of some key leases to ensure income certainty over a longer term.
• Achieved overall tenant retention rate of 87% for 1H 2014.