Mapletree Logistics Trust : 4Q FY20/21 Financial Results – Presentation

Mapletree Logistics Trust

4Q FY20/21 & 12M FY20/21 Financial Results

21 April 2021

Disclaimer

This presentation shall be read in conjunction with Mapletree Logistics Trust's financial results for the Fourth Quarter and Financial Year FY2020/21 in the SGXNET announcement dated 21 April 2021.

This presentation is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in Mapletree Logistics Trust ("MLT", and units in MLT, "Units"), nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. The value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of the Units and Mapletree Logistics Trust Management Ltd. (the "Manager") is not indicative of the future performance of MLT and the Manager. Predictions, projections or forecasts of the economy or economic trends of the markets which are targeted by MLT are not necessarily indicative of the future or likely performance of MLT.

This presentation may also contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events. In addition, any discrepancies in the tables, graphs and charts between the listed amounts and totals thereof are due to rounding. Figures shown as totals in tables, graphs and charts may not be an arithmetic aggregation of the figures that precede them.

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Agenda

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Key Highlights

Financial Review

Capital Management

Portfolio Review

Outlook

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Key Highlights

• 4Q FY20/21 Amount Distributable to Unitholders of S$92.6m (+18.9% y-o-y) and DPU of 2.161 cents (+5.5% y-o-y) on an enlarged unit base
• • Gross revenue rose 22.6% to S$157.0m and NPI grew 19.1% to S$136.7m
  • Performance driven by higher revenue from existing properties, contributions from accretive acquisitions in FY19/20 and FY20/21 and contribution from the completed redevelopment of Mapletree Ouluo Logistics Park Phase 2 ("Ouluo Phase 2") in China
• FY20/21 DPU increased by 2.3% y-o-y to 8.326 cents
• • FY20/21 amount distributable to Unitholders rose 10.4% y-o-y to S$333.1 million
• Resilient Portfolio
• • Portfolio occupancy improved to 97.5% from 97.1% in 3Q FY20/21
  • Well-staggeredlease expiry profile with WALE (by NLA) of 3.6 years
  • Average rental reversion for leases renewed or replaced in 4Q FY20/21 was 2.4%
• Active Portfolio Rejuvenation in FY20/21
• • Acquired 18 well-located modern logistics facilities in China, Vietnam, Australia, Japan, and South Korea and India, as well as the remaining 50% interest in 15 properties in China with a total value of S$1.6 billion
  • Completed the redevelopment of Ouluo Phase 2 in China
• Proactive Capital Management
• • Average debt duration of 3.8 years and aggregate leverage of 38.4% as at 31 Mar 2021
  • Approximately 75% of total debt is hedged into fixed rates and about 79% of income stream for next 12 months has been hedged
  • No refinancing risks for FY21/22: S$161 million debt due (4% of total debt) vs S$668 million available committed credit facilities

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Financial Review

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