Mapletree Logistics Trust : Completion Of The Proposed Acquisition Of A Logistics Asset Located In 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 A LOGISTICS ASSET LOCATED IN AUSTRALIA

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") and the announcement of MLT dated 11 April 2023 titled "Issue of 121,285,000 New Units in Mapletree Logistics Trust pursuant to the Private Placement" (the "Private Placement Announcement").

1. COMPLETION OF THE AUSTRALIA ACQUISITION
   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 Australia Acquisition today.
   Following this acquisition, MLT's portfolio has increased to 193 properties comprising 52 properties in Singapore, 14 in Australia, 43 in China, 9 in Hong Kong SAR, 2 in India, 25 in Japan, 17 in Malaysia, 21 in South Korea and 10 in Vietnam. The total value of assets under management will increase to S$13.7 billion1.
2. USE OF PROCEEDS
   The aggregate gross proceeds of the Private Placement is approximately S$200.0 million.
   The Manager is pleased to announce that approximately S$50.0 million (which is equivalent to approximately 25% of the gross proceeds of the Private Placement) has been used to partially fund the Australia Acquisition.
   The abovementioned use of proceeds arising from the Private Placement is in accordance with the stated use and is in accordance with the percentage of the gross proceeds of the Private Placement allocated to such use as set out in the announcement of MLT dated 31 March 2023 titled "Results of the Private Placement and Pricing of New Units under the Private Placement".
   Please refer to the above announcement for further details on the intended use of proceeds of the Private Placement.

1 Based on MLT's assets under management of approximately S$12.8 billion as at 31 March 2023 and including the acquisition of 6 logistics assets in Japan which was completed on 28 April 2023 and the acquisition of a logistics asset in South Korea which was completed on 26 May 2023.

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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

23 June 2023

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Important Notice

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. The past performance of MLT is not necessarily indicative of the future performance of MLT.

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 current 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 (as defined herein), 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 U.S. Securities Act of 1933, as amended (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.

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