Circular - Lippo Malls Indonesia Retail Trust - Investor Relations

Pro forma NAV per UnitThe pro forma financial effects of (i) the Recent Acquisitions, (ii) the Recent Acquisitionsand the Pejaten Village Acquisition, (iii) the Recent Acquisitions and the BinjaiSupermall Acquisition, and (iv) the Recent Acquisitions and the Proposed Acquisitionson the NAV per Unit as at 31 December 2011, as if LMIR Trust had purchased therelevant properties on 31 December 2011, respectively, are as follows:December 2011Portfolio withDecember 2011 RecentPortfolio (1) AcquisitionsDecember 2011Portfolio withRecentAcquisitionsand PejatenVillageDecember 2011Portfolio withRecentAcquisitionsand BinjaiSupermallDecember 2011Portfolio withRecentAcquisitionsand ProposedAcquisitionsNAV (S$’000) . . . . 1,299,869 1,299,869 1,299,869 1,299,869 1,299,869Units in issue andto be issued . . . . 2,174,682,008 2,174,682,008 2,174,682,008 2,174,682,008 2,174,682,008NAV per Unit(cents) . . . . . . . 59.77 59.77 59.77 59.77 59.77Note:(1) Based on the FY2011 Audited Consolidated Financial Statements.Pro forma capitalisationThe following table sets forth the pro forma capitalisation of LMIR Trust as at 31December 2011, as if LMIR Trust had purchased (i) the Recent Properties, (ii) theRecent Properties and Pejaten Village, (iii) the Recent Properties and Binjai Supermall,and (iv) the Recent Properties and the Proposed Properties on 31 December 2011.As at 31 December 2011December 2011Portfolio withDecember 2011 RecentPortfolio (1) AcquisitionsDecember 2011Portfolio withRecentAcquisitionsand PejatenVillageDecember 2011Portfolio withRecentAcquisitionsand BinjaiSupermallDecember 2011Portfolio withRecentAcquisitionsand ProposedAcquisitions(S$’000) (S$’000) (S$’000) (S$’000) (S$’000)Short-term debt:Unsecured . . . . . . . . . . — — — — —Secured. . . . . . . . . . . . — — — — —Total short-term debt . . — — — — —Long-term debt: . . . . . . .Unsecured . . . . . . . . . . — 177,000 287,000 215,000 325,000Secured . . . . . . . . . . . . 147,500 147,500 147,500 147,500 147,500Total long-term debt . . . 147,500 324,500 434,500 362,500 472,500Total debt . . . . . . . . 147,500 324,500 434,500 362,500 472,500Unitholders funds. . . . . . . 1,299,869 1,299,869 1,299,869 1,299,869 1,299,869Total Capitalisation . . . . . 1,447,369 1,624,369 1,734,369 1,662,369 1,772,369Note:(1) Based on the FY2011 Audited Consolidated Financial Statements.30