Investor Presentation: Proposed Acquisition of Logistics Facility in South Korea

Mapletree Logistics Trust

Proposed Acquisition of Logistics Facility in South Korea 20 October 2021

Overview of Property

1303/1305, Yeoyang-roDaesin-myeon,Yeoju-si,Gyeonggi-do, South Korea

• Modern ramp-up logistics facility comprising two blocks of 3-storey dry warehouses with high quality building specifications
• Located within northern Yeoju, a newly established logistics hub with excellent connectivity to Seoul

Purchase Price1	KRW135 billion
(S$153.8 million)
Valuation2	KRW139.6 billion
Land Tenure	Freehold
Land Area	56,200 sqm
GFA	70,400 sqm
Occupancy	100%
	Leased to one of South Korea's largest online fashion
Tenants	platforms and a domestic third-party logistics service
	provider

Notes:

1.	Based on the exchange rate of S$1.00 = KRW878.
2.	Based on independent valuation by MatePlus Appraisal as at 2 September 2021 using the market comparison and discounted cash flow methods.	1

Investment Rationale

• Strengthen MLT's portfolio with the addition of a modern, high quality logistics asset
• • Ramp-upfacility comprising two blocks of 3-storey warehouses completed in 2019
  • Built to high specifications that cater to the modern requirements of third party-logistics firms and e-commerce tenants
  • Strong floor loading of over 20kN/m², high floor-to-ceiling height of 10m to 17m, large contiguous floor plates of up to 14,200 sqm, full sprinkler system
• Broaden MLT's presence in a newly established logistics hub within the Seoul Metropolitan Area
• • Located in northern Yeoju, a newly established logistics hub situated northeast of the Yongin-Icheon market, the traditional logistics cluster in the Seoul Metropolitan Area
  • A choice location for the development of prime grade logistics assets due to its superior access to Gwangju- Wonju Expressway and National Road #3, two major expressways providing enhanced accessibility to Seoul
  • These expressways provide cheaper and more efficient connections to eastern and southern Seoul as compared to Yongin-Icheon, due to lower tolls and less traffic congestion

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Investment Rationale

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Positions MLT well to capture growing demand from the e-commerce industry

• South Korea's e-commerce market ranks among the most developed in the world and is projected to grow at a compound annual growth rate of 20% from 2021 to 20251
• COVID-19pandemic has accelerated e-commerce adoption
• With its modern specifications and strategic location with excellent connectivity, the Property is in a favourable position to attract users from the e-commerce sector

100% occupancy with leading online fashion retailer as key tenant

• Tenants comprise one of South Korea's largest online fashion platforms and a domestic third-party logistics service provider

• • Increase MLT's e-commerce revenue exposure in South Korea from 24% to 31%
  • WALE of 3.12 years with built-in annual rental escalations
• Acquisition is expected to be DPU accretive with initial NPI yield of 4.2%
• • Acquisition is expected to be completed by the fourth calendar quarter of 2021, subject to fulfilment of the relevant conditions precedent
  • Assuming 100% debt funding, MLT's aggregate gearing ratio will be approximately 40.3%3

Notes:

1. Research and Markets, "South Korea E-Commerce Market Report 2021"
2. As at 30 September 2021.
3. Based on MLT's financials as at 30 June 2021 and including the proposed acquisitions of i) 9 Changi South Street 2, Singapore announced on 9 July 2021; ii) a cold storage facility in Melbourne, Australia announced on 13

August 2021; and iii) Mapletree Logistics Hub - Tanjung Pelepas, Malaysia announced on 20 August 2021.

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Strategic Location with Excellent Connectivity

• Location enjoys superior access to eastern and southern Seoul via Gwangju-Wonju Expressway and National Road #3
• ~58km from Seoul (60-minute drive)

Proposed acquisition

MLT's existing assets

Seoul & nearby

Yongin/Icheon

North Yeoju

	Seoul
		Jungbu
		Expressway
					Gwangju
		Nat'l Rd #3			Wonju
				Expressway
	Gyeongbu
	Expressway
				Icheon	Yeoju Logistics
Yeongdong		Yongin		Center
Expressway	J
	C	Majang 2
		Seoicheon	Yeoju
			Majang 1
		Hobeob 3	JC	Hobeob 1
		Hobeob 2		Daewol 1
		Wonsam 1
		Baekam 3		Baekam 1
		Baekam 2
		Iljuk	Iljuk 2
		Yongin Cold		Anseong Cold
MLHPT
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