Mapletree Logistics Trust : Completion Of The Proposed Acquisition Of 6 Logistics Assets Located In Japan

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, EUROPEAN ECONOMIC AREA, THE UNITED KINGDOM, CANADA, JAPAN OR AUSTRALIA

(Constituted in the Republic of Singapore pursuant to a Trust Deed dated 5 July 2004 (as amended))

ANNOUNCEMENT

COMPLETION OF THE PROPOSED ACQUISITION OF 6 LOGISTICS ASSETS LOCATED IN JAPAN

Capitalised terms used herein, but not otherwise defined, shall have the meanings ascribed to them in the announcement of Mapletree Logistics Trust ("MLT") dated 30 March 2023 titled "The proposed acquisitions of 8 logistics assets located in Japan, Australia and South Korea; the potential acquisition of 2 logistics assets located in the People's Republic of China; and the potential divestment of a property in Hong Kong SAR" (the "Acquisition Announcement").

Further to the Acquisition Announcement, Mapletree Logistics Trust Management Ltd., in its capacity as manager of MLT (the "Manager"), is pleased to announce that MLT has completed the Japan Acquisition today. In connection with the Japan Acquisition, the Solar Panel PSA has been entered into for purposes of the transfer of the solar power generation equipment installed at the relevant Japan Properties to the Japan Purchaser, with effect from today. Following the completion of the Japan Acquisition, MLT has a 97% effective interest in the Japan Properties.

Following this acquisition, MLT's portfolio has increased to 191 properties comprising 52 properties in Singapore, 13 in Australia, 43 in China, 9 in Hong Kong SAR, 2 in India, 25 in Japan, 17 in Malaysia, 20 in South Korea and 10 in Vietnam. The total value of assets under management will increase to S$13.3 billion1.

By Order of the Board

Wan Kwong Weng

Joint Company Secretary

Mapletree Logistics Trust Management Ltd.

(Company Registration No. 200500947N)

As Manager of Mapletree Logistics Trust

28 April 2023

1 Based on MLT's assets under management of S$12.6 billion as at 31 December 2022.

Important Notice

This announcement is not for distribution, directly or indirectly, in or into the United States and is not an offer of securities for sale in the United States or any other jurisdictions.

The value of units in MLT ("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 of MLT may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units in the United States or in any other jurisdiction.

The past performance of MLT is not necessarily indicative of the future performance of MLT. Any discrepancies in the table included in this announcement between the listed amounts and the total thereof are due to rounding.

This announcement may 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 costs), property expenses and governmental and public policy changes. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's view of future events.

This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, European Economic Area, the United Kingdom, Canada, Japan or Australia, and should not be distributed, forwarded to or transmitted in or into any jurisdiction where to do so might constitute a violation of applicable securities laws or regulations.

The securities referred to herein have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with any applicable state or local securities laws. Any public offering of securities to be made in the United States would be made by means of a prospectus that may be obtained from an issuer and would contain detailed information about such issuer and the management, as well as financial statements. There will be no public offering of the securities referred to herein in the United States.