Circular - Lippo Malls Indonesia Retail Trust - Investor Relations

Occupancy rate (as at 30September 2012)Average gross rent (1)Number of tenants (as at30 September 2012)50.3%Rp.33,000 psm per month38GFA (sq m) 65,511NLA (sq m) 32,540Gross revenue for the6M2012Net property income for6M2012EncumbrancesValuation by KJPP RHP (4)Restriction in interest (5)Notes:Rp.28.2 billion (2)Rp.18.9 billion (3)NilRp.552 billionNil(1) This is computed by taking the average of the gross rent (excluding service charge) for 6M2012.(2) Comprises gross rental income, car park income and other income pertaining to KJI including servicecharge.(3) Excludes depreciation of investment property for KJI.(4) Based on KJPP RHP’s valuation report dated 30 June 2012.(5) Restriction in interest is a limitation imposed by any state authority in Indonesia on the powers andrights of a registered proprietor to deal with the land including restriction on the right to transfer,charge and/or encumber the land and/or building.2.4.2 Rental Guarantee in respect of KJIKJI had undergone an asset enhancement initiative (“AEI”), with a substantial part ofthe works having been completed in 3Q2012.As at June 2012, the occupancy rate at KJI was approximately 51%. As a large partof the AEI has now been completed, the mall operations are expected to improve andoccupancy is projected to increase upon stabilisation of the mall. In the interim, the KJIVendor has provided a rental guarantee to LMIR Trust in respect of KJI pursuant to adeed of rental guarantee (the “KJI Deed of Rental Guarantee”), which is for theamount of Rp.10.75 billion (S$1.4 million) per quarter (“Guaranteed Sum”) for FY2013and FY2014 (which will be partially backed by a banker’s guarantee for the amount ofRp.15.00 billion (S$1.9 million).The KJI Deed of Rental Guarantee is a rental revenue guarantee and is intended toinsulate LMIR Trust due to the recently completed AEI, as well as to insulate LMIRTrust from unforeseen changes or disruptions in the business conditions of KJI or theIndonesia retail market. Under the terms of the KJI Deed of Rental Guarantee, the KJIVendor, being the guarantor, will make good any shortfall between the actual rentachieved by KJI and the agreed rental guarantee amount for each of the respectivequarters during FY2013 and FY2014.The board of directors of the Manager is of the view that the KJI Deed of RentalGuarantee is in the interest of LMIR Trust as it offers protection to LMIR Trust in theevent that the gross rental revenue in respect of KJI for the relevant quarter falls belowthe guaranteed amount for the term of the KJI Deed of Rental Guarantee.B-9