Mapletree Logistics Trust : Payment of Fees by way of Issue of New Units in MLT

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

ANNOUNCEMENT

1. PAYMENT OF ACQUISITION FEES BY WAY OF ISSUE OF NEW UNITS IN MAPLETREE LOGISTICS TRUST

Mapletree Logistics Trust Management Ltd., as manager (the "Manager") of Mapletree Logistics Trust ("MLT") wishes to announce that new units in MLT ("Units") have been issued today to the Manager as payment of acquisition fees in respect of (a) the acquisition of a 100% interest in one property in Vietnam through the acquisition of a property holding company (the "Vietnam Acquisition") and (b) the acquisition of the remaining 50% interest in 15 properties and 100% interest in seven properties in PRC through the acquisition of property holding companies (the "PRC Acquisition").

In accordance with Paragraph 5.7 of Appendix 6 of the Code on Collective Investment Schemes issued by the Monetary Authority of Singapore (the "CIS Code") and the unitholders' circular dated 2 November 2020, a total of 2,323,606 Units ("Acquisition Fee Units"), were issued on 23 June 2021 at S$2.027 per Unit as payment of the acquisition fees in respect of the Vietnam Acquisition and the PRC Acquisition, which were completed on 1 December 2020.

The Acquisition Fee Units were issued based on 0.5% of the total acquisition price for each of the acquisitions. In accordance with clause 15.2.1(i) of the trust deed dated 5 July 2004 (as amended) constituting MLT (the "MLT Trust Deed"), the Acquisition Fee Units should be issued at the issue price of Units issued to finance or part finance the acquisition in respect of which the acquisition fee is payable or, where Units are not issued to finance or part finance the acquisition, the prevailing Market Price (as defined in the MLT Trust Deed) of such Units on the date of completion of the acquisition based on the volume weighted average price for a Unit for all trades on the Singapore Exchange Securities Trading Limited in the ordinary course of trading for the last ten business days immediately preceding the date of completion of the acquisition. Pursuant to the private placement1 that was undertaken to part finance, among others, the Vietnam Acquisition and the PRC Acquisition, the issue price of the new Units under the private placement was S$2.027 per Unit, as announced on 29 October 2020.

• Please refer to the announcements dated 20 October 2020, 21 October 2020 and 29 October 2020.

1. PAYMENT OF BASE FEE, PROPERTY MANAGEMENT FEE AND LEASE MANAGEMENT FEE IN RESPECT OF CERTAIN PROPERTIES BY WAY OF ISSUE OF NEW UNITS IN MAPLETREE LOGISTICS TRUST

Further to the announcements/press releases dated 29 May 2016, 28 June 2016, 23 September 2016, 15 December 2016, 5 January 2018, 5 July 2018, 26 October 2018, 1 November 2018, 17 September 2019, 21 October 2020, 21 December 2020, 15 February 2021, 17 March 2021 and the unitholders' circulars dated 28 August 2017, 8 May 2018, 1 November 2019, 5 February 2020 and 2 November 2020 in relation to certain properties in Australia, Malaysia, Vietnam, Singapore, Hong Kong SAR, Japan, South Korea, India and the People's Republic of China (collectively, and together with MLT's other properties, referred to as the "Properties"), the Manager wishes to announce that a total of 3,552,641 new Units at an issue price of S$1.9053 per Unit have been issued on 23 June 2021 as follows:

1. 3,055,745 Units as payment of part of the base fee for the relevant term during the period from 1 January 2021 to 31 March 2021 in respect of certain Properties in accordance with the MLT Trust Deed; and
2. 496,896 Units as payment of part of the property management fee and the lease management fee in respect of certain Properties for the relevant term during the period from 1 January 2021 to 31 March 2021 in accordance with the master property management agreement dated 24 June 2005 ("MPMA") and the overseas properties property management agreement dated 18 January 2006 ( "OPMA"), both entered into between HSBC Institutional Trust Services (Singapore) Limited as trustee of MLT, the Manager and Mapletree Property Management Pte. Ltd. (the "Property Manager") and as amended, supplemented and extended from time to time, pursuant to which the Property Manager is to provide certain property management, lease management, marketing services and other services to the properties of MLT.

The Manager and Property Manager have nominated Mulberry Pte. Ltd. ("Mulberry") to receive the above-mentioned Units relating to the base fee, property management fee and lease management fee, as permitted under the MLT Trust Deed, the MPMA and OPMA.

The issue price of the Units for payment of the base fee, property management fee and lease management fee is based on the volume weighted average price for a Unit for all trades on the Singapore Exchange Securities Trading Limited in the ordinary course of trading for the last ten business days of the relevant period.

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Following the above issuances, Mulberry holds 564,913,479 Units and the Manager holds 48,398,198 Units respectively, while the unitholdings of the Property Manager in MLT remain unchanged at 4,241,149 Units. Total number of Units in issue as at 23 June 2021 is 4,289,081,961.

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 2021

Important Notice

This Announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in MLT ("Units"). 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 of MLT may only deal in their Units through trading on the Singapore Exchange Securities Trading Limited ("SGX-ST"). Listing of the Units on the SGX- ST does not guarantee a liquid market for the Units.

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

The information in this Announcement must not be published outside the Republic of Singapore and in particular, but without limitation, must not be published in any United States edition of any publication.

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