Mapletree Logistics Trust : Issue and Listing of Consideration Units

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

ISSUE AND LISTING OF CONSIDERATION UNITS

Capitalised terms used herein, but not otherwise defined, shall have the meanings ascribed to them in the announcement of Mapletree Logistics Trust ("MLT") dated 19 October 2020 titled "The proposed acquisitions of (A) the remaining 50.0% interest in 15 properties and a 100.0% interest in seven properties in PRC through the acquisition of property holding companies, (B) the Malaysia property and (C) a 100.0% interest in one property in Vietnam through the acquisition of a property holding company, as interested person transactions (the "Acquisition Announcement") and in the circular of MLT dated 2 November 2020 (the "Circular").

Further to the Acquisition Announcement and the announcement dated 2 November 2020 in relation to the approval in-principle from the Singapore Exchange Securities Trading Limited (the "SGX-ST") for the listing and quotation of the Consideration Units on the Main Board of the SGX-ST, Mapletree Logistics Trust Management Ltd., in its capacity as manager of MLT (the "Manager"), wishes to announce that it has issued an aggregate of 148,001,965 Consideration Units today at an issue price of S$2.027 per Unit.

The Consideration Units were listed and quoted on the Main Board of the SGX-ST with effect from 9.00 a.m. on 1 December 2020 ("Listing Date").

The Consideration Units are trading under a temporary stock counter (Counter Name: Mapletree Log Tr A, Stock Code: JOIU) separate from the existing MLT stock counter. The Consideration Units will trade under this separate stock counter for the period commencing from the Listing Date to the last day of "cum-distribution" trading for the Consideration Units as well as the existing Units in issue on 30 November 2020, being the day immediately prior to the date on which the Consideration Units are issued (the "Existing Units"), in respect of the distributions for the period ending 31 December 2020. After the last day of "cum-distribution" trading, both the Consideration Units trading on the temporary stock counter and the Existing Units will be aggregated and traded under the existing MLT stock counter on the Main Board of the SGX-ST on the next market day, i.e. the first day of "ex-distribution" trading for both the Consideration Units and the Existing Units.

For the avoidance of doubt, the Consideration Units will not be entitled to distributions by MLT for the period preceding the Listing Date, and will only be entitled to receive distributions by MLT from the Listing Date to the end of the financial quarter in which the Consideration Units are issued, as well as all distributions thereafter.

When the Consideration Units are aggregated and traded under the existing MLT stock counter on the Main Board of the SGX-ST, the Consideration Units will rank pari passu in all respects with the Existing Units, including the right to any distributions which may be paid thereafter. The date for the merger of the temporary stock counter with the existing MLT stock counter will be announced by the Manager separately.

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

1 December 2020

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 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.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Notification under Section 309B of the Securities and Futures Act, Chapter 289 of Singapore

The New Units are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).