40 AL-SALĀM REIT MANAGEMENT DISCUSSION AND ANALYSIS ANNUAL REPORT 2023 KPJ INTERNATIONAL COLLEGE OF NURSING AND HEALTH SCIENCES JOHOR BAHRU (KPJIC JB) The property is a four-storey building known as KPJ International College of Nursing and Health Sciences Johor Bahru located in Bandar Dato’ Onn, a self-contained, residential township 12 kilometres from Johor Bahru. The building has a 100% occupancy rate as at 31 December 2023. RENTAL TERM The building is currently rented by KPJ Healthcare University College Sdn Bhd for a term of 3 years. The current term will expire on 31 October 2025. CHALLENGES AND PROSPECTS KPJIC JB, as the Fund's exclusive education property asset, has consistently delivered stable earnings through a master lease arrangement with KPJ Group's education arm. Leveraging the robust reputation of KPJ as a key player in the healthcare industry, we hold confidence that the property will maintain its track record of offering sustainable yields for Al-Salām REIT in the foreseeable future. INDUSTRIAL & OTHERS SEGMENT LOCATION: Bandar Dato’ Onn, Johor
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