Investor Presentation: Acquisition of Higashi Hiroshima Centre in Japan

Mapletree Logistics Trust

Acquisition of Higashi Hiroshima Centre in Japan

21 December 2020

Overview of Property

Higashi Hiroshima Centre, Japan

• Newly completed in November 2020, the two-storey single block logistics facility sited on freehold land is built to modern logistics specifications
• Located within the established Shiwa industrial and logistics cluster of Hiroshima, a strategic regional distribution hub

Purchase Price1	JPY6,370 million
(S$82.1 million)
Valuation2	JPY6,650 million
Land Tenure	Freehold
Land Area	85,660 sqm
GFA	26,948 sqm
Clear Ceiling	5.5m
Height
Floor Loading	1.5 tonnes/sqm
	33% leased to a domestic 3PL serving
	prominent industrial end-users as well
Occupancy	as major convenience stores and
	supermarket chains in Japan for 5
	years

Notes:

1.	Based on exchange rate of S$1 = JPY77.61
2.	Valued by Cushman & Wakefield as at 1 December 2020 based on the income approach and cost approach.	1

Investment Rationale

• Established location with excellent connectivity
• • Centrally located in the Hiroshima prefecture and well connected to Greater Osaka in the east and Kyushu Island in the west, making it an ideal location for regional distribution
  • Sited within the established Shiwa industrial and logistics cluster and provides excellent access to Hiroshima city centre (~22km) and Hiroshima Airport (~26km)
• Newly built logistics facility with modern specifications
• • Completed in November 2020 and built to modern logistics specifications, including clear height of 5.5m and floor loading of 1.5 tonnes/sqm
  • Highly functional and versatile design that supports flexible leasing solutions
  • Expect to enjoy healthy leasing demand from logistics customers due to its strategic location, where supply of modern warehouse facilities in Hiroshima is limited
• Acquisition is expected to be accretive with stabilised NPI yield of 4.5%
• • Acquisition will be funded by debt. Upon completion, MLT's aggregate leverage ratio is projected to be approximately 37.9%1

Note 1:

Based on MLT's financials as at 30 September 2020 and taking into account:

1. the proposed acquisition of a portfolio of properties in China, Malaysia and Vietnam as per the announcement "The proposed acquisitions of (a) the remaining 50.0% interest in 15 properties and a 100.0% interest in seven properties in PRC through the acquisition of property holding companies, (b) the Malaysia Property and (c) a 100.0% interest in one property in Vietnam through the acquisition of a property holding company, as interested person transactions" dated 19 October 2020;
2. the equity fund raising which includes a private placement and a non-renounceable preferential offering as per the announcement "Results of the private placement and pricing of new units under the private placement and preferential offering" dated 21 October 2020; and
3. the proposed acquisition of a property in Australia as per the announcement "Mapletree Logistics Trust extends footprint in Australia with A$114 million acquisition" dated

21 October 2020.

2

Strategic Location with Excellent Connectivity

3