AL-SALAM REIT ANNUAL REPORT 2020

40 AL-SALĀM REIT MANAGEMENT DISCUSSION AND ANALYSIS OPERATIONAL REVIEW (ASSET PERFORMANCE) Retail Segment - KOMTAR JBCC OVERVIEW OF PROPERTY Located in the heart of the Central Business District of Johor Bahru City Centre, KOMTAR JBCC offers an array of outlets of international as well as local luxury brands. The 4-storey shopping mall with indoor parking facilities is attached with an existing 25 storey purpose-built office tower known as Menara KOMTAR and a 37-storey purpose-built Grade A office tower known as Menara JLand. Being adjacent to the CIQ with excellent pedestrian connectivity to the mall allows KOMTAR JBCC to further capitalise on visitors and shoppers from outside its identified catchment. The launch of Holiday Inn Johor Bahru City Center in second half of 2020 as part of KOMTAR JBCC’s mixed use development is also expected to further increase catchment of the mall moving forward. Existing Use 4 level shopping mall GFA (sq ft) 623,374 NLA (sq ft) 382,465 Number of Car Park Bays 1,049 car parking bays and 480 motorcycle parking bays Market Value RM432 million Number of Tenancies 96 TOP 10 TENANTS Tenant %Total Income Angry Bird Family 3 RHB Bank 3 Good2u Outlet Store 3 Padini Concept Store 3 Oven & Fried Chicken (OFC) 3 F.O.S 3 Kapitan Grocer 3 Kiehl’s 3 Mark & Spencer 2 Guardian 2 KOMTAR JBCC Occupancy as at 31 December 2020 57 % Tenant Mix by Trade Sector - Based on December 2020 Gross Rental Income Supermarket Beauty &Wellness Food & Beverage Others Fashion & Accessories Timepieces & Jewellery Leisure 3% 22% 29% 4% 4% 14% 24% Tenant Mix by Trade Sector - Based on December 2020 Net Lettable Income Supermarket Beauty &Wellness Food & Beverage Others Fashion & Accessories Timepieces & Jewellery Leisure 3% 22% 8% 1% 7% 49% 10% Average Ocupancy Rate Average Ocupancy Rate 0% 20% 40% 60% 80% 100% 93% 95% 95% 60% 57% 2016 2017 2018 2019 2020 Lease Expiry Profile Based on Net Lettable Area 2021 2022 2023 >2024 2% 42% 17% 38%