We revisit the SL(5) U-duality manifest action constructed by Berman and Perry in an extended spacetime. Upon choosing a four-dimensional solution to the section condition constraint, the theory reduces to a four-dimensional truncation of eleven-dimensional supergravity. In this paper, we show that the theory contains more than this M-theory reduction. The section condition also admits an SL(5) inequivalent three-dimensional solution, upon which the action directly reduces to a three-dimensional truncation of type IIB supergravity. We also discuss the reduction to IIB ∗ supergravity