ARA LOGOS Logistics Trust : Presentation Slides (3664 KB)

ARA LOGOS

Logistics Trust

2H / Full Year FY2021 Financial Results Presentation

25 January 2022

Agenda

1 Key Highlights

2 Financials Snapshot and Portfolio Update

3 Update on Proposed Merger with ESR-REIT

4	Market Outlook

5	Additional Information

2

Key Highlights

41 - 51 Mills Road, Braeside, Victoria, AUS

Financial Highlights

Delivered Stable Performance; Underpinned by Defensive Fundamentals

2H FY2021 Financial Performance

Gross Revenue

S$68.7 mil

Net Property Income ("NPI")

S$53.5 mil

Distribution Declared

S$35.8 mil

DPU

2.464 cents(1)(2)

FY2021 Financial Performance		Prudent Capital Management
Gross Revenue	Aggregate Leverage(6)
S$135.2 mil	39.5%
Net Property Income ("NPI")	All-in Financing Cost
S$104.9 mil	2.77%
Distribution Declared	NAV(3)
S$70.4 mil	S$0.67 per unit
DPU	Interest Coverage Ratio(4)(6)
5.034 cents(2)	4.7 times

Total Debt(5)

S$745.8 mil

Average Debt to Maturity

2.9 years

Notes:

(1)	Based on number of units in issue as at 31 December 2021 of 1,452,179,433 units and 691,439 new units issued on 12 January 2022 as payment for the acquisition fee of S$0.61 million in relation to the acquisition of the development asset at Corner Heron Drive and Curlew Street, Port of Brisbane,
	Queensland, which shall now be known as 21 Curlew Street, Port of Brisbane (the "Heron Property"). The acquisition of the Heron Property was completed on 11 January 2022.
(2)	2H FY2021 and FY2021 DPU of 2.464 cents and 5.034 cents respectively have taken into effect the Manager receiving 100% of the 4Q FY2021 base management fee and FY2021 performance fee in cash.
(3)	NAV is computed based on the net assets attributable to Unitholders, excluding Perpetual Securities.
(4)	ICR is computed based on trailing 12-month period ending on 31 December 2021. Includes margin and amortization of capitalised upfront fee, excluding non-recurring finance expenses and upfront fees written-off.
(5)	Excludes unamortised transaction costs and lease liabilities recognised pursuant to FRS116 leases.	4
(6)	Aggregate Leverage and ICR have been computed in accordance with the MAS Circular dated 28 December 2021 where MAS clarified exclusion of land lease liabilities from computation of REITs' aggregate leverage and exclusion of interest expense on lease liabilities from computation of ICR and

adjusted-ICR.

Portfolio Highlights

Resilient and Quality Portfolio

Portfolio Statistics

Portfolio Occupancy 99.0% committed

Total Portfolio Value

S$1.8 billion(1)

WALE (by GRI)

4.4 years

Well-Diversified and Quality Tenants

High Quality and Diverse Tenant Base

Proactive Portfolio Management Strategy

Successfully Maintained Healthy

Levels of Portfolio Occupancy and

WALE

Leasing Update		Key Milestones
Leases Secured	Execution of Portfolio Rebalancing &
> 203k sqm in FY2021	Growth Strategy
		Completed the Acquisition of Five
FY2021 Rental Reversion	Logistics Assets and 49.5% and
3.1%		40.0% stakes in Two Funds as well
		as the Divestments of Kidman Park
Top 10 Tenants as a % of ALOG's	in AUS and ALOG Changi
Gross Revenue	DistriCentre 2 in SIN(2)
51.1%

Asset Enhancement Initiatives

S$5.1 mil Defensive AEI Works

Across Five SG Properties

Proposed Merger with ESR-REIT

Received Higher Scheme

Consideration from ESR-REIT;

Reiterates Confidence in the Long-

Term Merits of an Enlarged REIT(3)

Note: All information are as at 31 December 2021, unless otherwise stated.

(1)	Includes ALOG's 49.5% and 40.0% stakes in the New LAIVS Trust and Oxford Property Fund respectively. Excludes the Heron Property as the acquisition of the Heron Property was only completed on 11 January 2022. For more information on the completion, please refer to the SGX announcement dated
	11 January 2022.
(2)	Please refer to SGX announcements dated 16 April 2021, 21 April 2021, 31 May 2021 and 30 June 2021 for more information. The acquisition of the Heron Property was only completed on 11 January 2022. For more information on the completion, please refer to the SGX announcement dated 11 January	5
	2022.
(3)	Please refer to SGX announcement dated 22 January 2022 for more information.