Investor Presentation: Proposed Acquisition of Logistics Asset in Australia

Mapletree Logistics Trust

Proposed Acquisition of Logistics Asset in Australia 13 August 2021

Overview of Property

5-17 Leslie Road & 6-10 Pipe Road, Melbourne, Victoria, Australia

• Purpose-builtcold storage facility comprising five blocks of cold and freezer warehouse (77% of NLA), ambient warehouse, office and other amenities
• Located in inner west precinct of Melbourne, an established industrial and logistics region

Purchase	A$42.8 million
Price1	(S$42.8 million)
Valuation2	A$43.0 million
Land Tenure	Freehold
Land Area	30,313 sqm
NLA	14,747 sqm
	100% leased to Austco Polar
Tenant	Cold Storage Pty Ltd, a wholly-
owned subsidiary of ASX-listed
	Wingara AG Limited
Remaining	13.03 years
Lease Tenure

Notes:

1. Based on the exchange rate of A$1 = S$1.00

2.	Based on independent valuation by Knight Frank as at 21 June 2021 based on the capitalisation and discounted cash flow methods.	1
3.	As at 1 July 2021.

Investment Rationale

• Established location with excellent connectivity
• • Located in inner west precinct of Melbourne, an established industrial and logistics region







• Excellent connectivity to major arterial routes and in close proximity to the city centre (~13km) and the Port of Melbourne (~10km)

Robust cold storage sector

• E-commerce,food and grocery sectors recorded strong growth in 2020, which in turn has supported robust demand for cold facilities
• Australia's per capita cold storage stock in 2020 lags 3 to 4 times behind developed countries => there are no vacant cold storage warehouses (>5,000 sqm) across the country1

Established tenant with long lease tenure

• 100% leased to Austco Polar, a national and international red meat exporter
• Remaining lease tenure of 13.02 years with built-in annual rental escalations

Acquisition is expected to be accretive with initial NPI yield of 4.3%

• Acquisition will be funded by debt and is expected to be completed by 3Q FY21/22, subject to fulfilment of conditions precedent
• Upon completion, MLT's aggregate leverage ratio will be approximately 38.7%3

Note:

1. Colliers Research, Australian Industrial & Logistics Market, March 2021
2. As at 1 July 2021.
3. Based on MLT's financials as at 30 June 2021, and including the proposed acquisition of 9 Changi South Street 2, Singapore as announced on 9 July 2021.

2

Strategic Location with Excellent Connectivity

• The proposed acquisition is located within the west industrial precinct in the vicinity of MLT's four existing assets in Melbourne, close to the city center (~13km) and the Melbourne port (~10km)
• The inner west precinct of Melbourne is an established industrial and logistics region that has attracted many major logistics players and food and grocery leaders

3

Impact on Portfolio

4