Volume #43 - Quarterly Investor Update (Q4 FY2017) 5 March 2018 ASEANA TRACKER. Property Portfolio Update

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1 ASEANA TRACKER Highlights SENI Mont Kiara ( SENI ) achieved approximately 99% sales to date. The RuMa Hotel and Residences ( The RuMa ) achieved approximately 57% sales based on sale and purchase agreements signed. The Harbour Mall Sandakan ( HMS ) is approximately 70% leased. Four Points by Sheraton Sandakan Hotel ( FPSS ) recorded an average occupancy rate of approximately 42% for the year up to 31 December 2017 and 31% to date, due to the quiet market leading up and during the Lunar New Year. Consultation meetings were held with key shareholders during January 2018 to establish whether alternative proposals to the discontinuation resolution should also be put forward at the next AGM, in the interest of maximising value for Shareholders. As at 30 September 2017* NAV/Share : US$ RNAV/Share : US$ * calculated based on 212,025,002 issued share capital NAV/Share : US$ RNAV/Share : US$ * calculated based on 198,691,002 voting share capital Key Facts Exchange : London Stock Exchange Main Market Symbol Lookup : ASPL : Reuters - ASPL.L Bloomberg - ASPL:LN Company Information Domicile : Jersey Issued Shares : 212,025,002 Voting Share : 198,691,002 Capital Share Denomination : US Dollars Management Fee : 2% of NAV Performance Fee : 20% of the out performance NAV over a total return hurdle rate of 10% Admission Date : 5 April 2007 Investor Reporting : Quarterly Fiscal Year End Financials : 31 December : Semi-annual review; annual audit For additional information please refer to Registered Address 12 Castle Street St. Helier, Jersey JE2 3RT Channel Islands City International Hospital Property Portfolio Update Future of the Company At an Extraordinary General Meeting held on 22 June 2015, Shareholders voted in favour of the Board s proposals to amend the Company s investment policy to enable a realisation of the Company s assets in a controlled, orderly and timely manner, with the objective of achieving a balance between periodically returning cash to Shareholders and maximising the realisation value of the Company s investments. As part of that vote, the Company is committed to dispose of all its assets by June Sales Update 15 February 2018 Projects % Sold * SENI Mont Kiara 99.3% The RuMa Hotel and Residences 56.7% * Based on sales and purchase agreements signed. Please see Snapshot of Property Portfolio (Pages 3 and 4) for further information Whilst discussions continue to be held on the sale of most of the Company s remaining assets, the Directors do not expect that all these discussions will be successfully concluded by June The Company therefore announced on 24 November 2017 that the Directors would consult with Shareholders in early 2018 to establish whether alternative proposals to the discontinuation resolution should be put forward at the next AGM, in the interest of maximising value for Shareholders. 1

2 Property Portfolio Update continued On the back of a flat property market, sales at The RuMa progressed slightly to 56.7% based on sale and purchase agreements signed. The Manager will continue to participate in upcoming marketing and promotional events both locally and internationally to boost sales. Construction is expected to complete in April Meanwhile, one penthouse unit was sold at SENI Mont Kiara since the last report and its current unsold units stand at 4 units. Meanwhile, business environment and tourism in Sabah have shown improvements throughout the year. Sabah has welcomed 3.68 million international and n tourists in 2017, representing an increase of 7.5% compared to same period in Of this, 0.4 million of them were tourists from China. It is anticipated that the impending extension of the Sandakan Airport runway will attract further commercial airlines and charter flights to fly directly to Sandakan. However, adverse travel advisory notices to the coastal areas of eastern Sabah from countries such as United Kingdom, Canada, Australia and New Zealand are still in place. In a bid to attract more tourists, FPSS has planned a series of programmes for groups of Taiwanese tourists arriving in Sandakan on chartered flights. FPSS recorded average occupancy rates of approximately 42% for the year ended 31 December 2017 and 31% to date, due to the quiet market leading up and during the Lunar New Year. Meanwhile, HMS s occupancy stands at approximately 70% to date. As at 31 January 2018, CIH registered 1,336 in-patient days (31 January 2017: 642), equivalent to a daily average of 43 inpatient days (31 January 2017: 21), with an average revenue per in-patient day of US$381.2 (31 January 2017: US$373.9). Outpatient visits as at 31 January 2018 reached 5,560 visits (31 January 2017: 3,054), equivalent to an average of 232 outpatients daily (31 January 2017: 157), which generated average revenue per visit of US$73.4 (31 January 2017: US$74.8). CIH introduced angiographic intervention services at the end of 2017, which is expected to boost patient volumes going forward. In addition, Dr John Lucas was appointed as the Chief Executive ( CEO ) to lead the operations team, to replace Dr Le Quoc Su, who left his position as CEO at the end of Prior to joining CIH, Dr Lucas was a Medical Director at the FV Hospital, where he was instrumental in achieving the first JCI accreditation in HCMC and transformed a stand-alone hospital into an integrated healthcare system. Construction Update February 2018 Construction work has reached the RC Fin Wall with targeted completion in April

3 Snapshot of Property Portfolio Tiffani by i-zen Luxury condominiums Expected GDV: US$92 million Project NAV as at 30/9/2017: US$1.32 million Project RNAV as at 30/9/2017: US$1.32 million 1 100% sold SENI Mont Kiara Luxury condominiums Expected GDV: US$324 million Project NAV as at 30/9/2017: US$13.20 million Project RNAV as at 30/9/2017: US$14.22 million 2 Approximately 99% sold; targeted 100% sales by Q Sandakan Harbour Square Sandakan, Sabah, Phases 1 & 2: Retail lots; Phase 3: Harbour Mall Sandakan; Phase 4: Four Points by Sheraton Sandakan hotel Expected GDV: US$120 million Project NAV as at 30/9/2017: US$57.76 million Project RNAV as at 30/9/2017: US$64.51 million 3 Planned sale by: HMS: Q4 2018; FPSS: Q The RuMa Hotel & Residences Project Luxury residences and boutique hotel Expected GDV: US$182 million Effective Ownership: 70% Project NAV as at 30/9/2017: US$30.90 million Project RNAV as at 30/9/2017: US$44.83 million 2 Approximately 57% sold; targeted 100% sales by Q Completion expected in April 2018 Seafront Resort and Residential Development Kota Kinabalu, Sabah, Resort homes, boutique resort hotel and resort villas Expected GDV: US$12 million Effective Ownership (Resort villas and hotel): 100% Effective Ownership (Resort homes): 80% Project NAV as at 30/9/2017: US$9.57 million Project RNAV as at 30/9/2017: US$12.83 million 3 Planned sale of development lands by: Q

4 Snapshot of Property Portfolio (cont d) International Healthcare Park Binh Tan District, Ho Chi Minh City, Commercial and residential development with healthcare theme Expected GDV: US$43 million Effective Ownership: 72.41% Project NAV as at 30/9/2017: IHP: -US$4.20 million; CIH: US$28.27 million Project RNAV as at 30/9/2017: IHP: US$12.79 million 3 ; CIH: US$30.43 million 3 Planned sale for CIH by: Q Planned sale for IHP by: Q Notes 1 Projects carried at cost. 2 Market value is calculated based on the discounted cash flows, translated at exchange rate as at 30 September 2017, which excludes any taxes; whether corporate, personal, real property or otherwise, that are payable. These market values are further adjusted for assumed taxes by the Manager. 3 Market value based on residual/comparison/investment method of land /property value by international independent valuers. 4 All NAV and RNAV data are unaudited. Exchange rate 31 December 2017: US$1:RM4.0469; US$1: VND22,700; 30 September 2017: US$1:RM4.2212; US$1: VND22,725 (Source: Bank Negara, State Bank of ) Share Performance 52 weeks high of US$ weeks low of US$0.500 Current as at 01/03/2018 of US$

5 Share Performance continued Note: Transaction volume > 5 million (i) 12 Dec 2016: 6.54 million Valuation Methodology The Realisable Net Asset Value of the Company as at 30 September 2017 has been computed by the Company based on the Company s management accounts for the period ended 30 September 2017 and the Market Values of the property portfolio as at 30 June The Market Value of the property portfolio is determined on a discounted cash flow basis, comparison method, residual method or investment method on land or properties values by an independent firm of valuers. The Market Values, excluded any taxes; whether corporate, personal, real property or otherwise, that are payable. The valuations by independent firm of valuers have been performed in accordance with the International Valuation Standards ( IVS ) or in accordance with the Royal Institution of Chartered Surveyor Guidelines ( RICS ). In arriving at the Realisable Net Asset Value of the Company, the Company has made assumptions on potential taxes deductible from Market Values, where applicable. These may include corporate income tax, real property gains tax or any transactional taxes, where applicable. Important Notice This document, and the material contained therein, is not intended as an offer or solicitation for the subscription, purchase or sale of securities in Aseana Properties Limited (the Company ). Any investment in the Company must be based solely on the Prospectus of the Company or other offering document issued from time to time by the Company, in accordance with applicable laws. The material in this document is not intended to provide, and should not be relied on for accounting, legal or tax advice or investment recommendations. Potential investors are advised to independently review and/or obtain independent professional advice and draw their own conclusions regarding the economic benefit and risks of investment in the Company and legal, regulatory, credit, tax and accounting aspects in relation to their particular circumstances. No undertaking, representation, warranty or other assurance, express or implied, is given by or on behalf of either of the Company or Ireka Development Management Sdn. Bhd. or any of their respective directors, officers, partners, employees, agents or advisers or any other person as to the accuracy or completeness of the information or opinions contained in this document and no responsibility or liability is accepted by any of them for any such information or opinions or for any errors, omissions, misstatements, negligence or otherwise. No warranty is given, in whole or in part, regarding the performance of the Company. There is no guarantee that investment objectives of the Company will be achieved. Potential investors should be aware that past performance may not necessarily be repeated in the future. The price of shares and the income from them may fluctuate upwards or downwards and cannot be guaranteed. This document is intended for the use of the addressee and recipient only and should not be relied upon by any persons and may not be reproduced, redistributed, passed on or published, in whole or in part, for any purposes, without the prior written consent of Aseana Properties Limited. Advisors & Service Providers Contact Information Development Manager Corporate Broker Auditor Company Secretary Ireka Development Management Sdn Bhd N+1 Singer KPMG LLP Link Secretaries Limited Company Website Development Manager Website Chief Executive Chief Financial Chief Investment Aseana Properties Limited Ireka Development Management Sdn Bhd Mr. Lai Voon Hon voonhon.lai@ireka.com.my Ms. Monica Lai monica.lai@ireka.com.my Mr. Chan Chee Kian cheekian.chan@ireka.com.my Office Office Level 18, Wisma Mont Kiara No. 1 Jalan Kiara Mont Kiara Kuala Lumpur Tel : Unit 4 & 5, 10th Floor Vinamilk Tower 10 Tan Trao Street Tan Phu Ward, District 7 Ho Chi Minh City Tel :