Mapletree Logistics Trust : Proposed Issue Of Series 005 Notes Pursuant To The S$3 Billion Euro Medium Term Securities Programme And Disclosure Pursuant To Rule 704(31) Of The Listing Manual Of The Singapore Exchange Securities Trading Limited

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

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The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act, or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold within the United States except pursuant to an exemption under, or in a transaction not subject to, the registration requirementsof the U.S. Securities Act and applicable state or local securities laws. This announcement and the information contained herein are not for distribution, directly or indirectly, in or into the United States.

ANNOUNCEMENT

PROPOSED ISSUE OF SERIES 005 NOTES PURSUANT TO THE S$3 BILLION EURO MEDIUM TERM SECURITIES PROGRAMME AND DISCLOSURE PURSUANT TO RULE 704(31) OF THE LISTING MANUAL OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED

24 November 2021 - Mapletree Logistics Trust Management Ltd., as manager (the "Manager") of Mapletree Logistics Trust ("MLT"), wishes to announce that MapletreeLog Treasury Company Pte. Ltd. (the "Issuer"), a wholly-owned subsidiary of MLT, has today executed a pricing supplement in relation to the issue of JPY2 billion 0.70% Notes due 2029 (the "Notes") under its S$3 billion Euro Medium Term Securities Programme.

The Notes are unsecured and are not rated. The payment obligations of the Issuer under the Notes will be unconditionally and irrevocably guaranteed by HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of MLT). The Notes will not be listed.

Citigroup Global Markets Limited has been appointed as the sole manager for the issue of the Notes.

The proceeds arising from the issue of the Notes will be applied towards general corporate purposes including refinancing the existing borrowings of MLT.

For purpose of disclosure under Rule 704(31) of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "SGX-ST"), the Notes contain a condition where a default may occur if the Manager is removed as a manager of MLT pursuant to the terms of the trust deed constituting MLT (the "Trust Deed"), and the replacement or substitute manager is not appointed in accordance with the terms of the Trust Deed (the "Notes Event").

There are also certain conditions ("Conditions") in some of the existing loan facilities and notes issued (collectively the "Debt Facilities") by MLT1 and/or its subsidiaries2. These Conditions require:

1. The Manager to remain as the manager of MLT; and/or
2. The Manager to remain a subsidiary, whether directly or indirectly, wholly-owned or majority- owned, of Mapletree Investments Pte Ltd, the sponsor of MLT.

In the event that any of the Conditions is not met, the lender(s) and/or the note-holder(s) (as the case may be) may cancel the available commitment and/or require prepayment (as the case may be) under the Debt Facilities,

1. HSBC Institutional Trust Services (Singapore) Limited, acting in its capacity as trustee of MLT, is the contracting party for the Debt Facilities entered into on behalf of MLT.
2. Include investment structures which qualify as passive income schemes in Japan and the special purpose Australian trusts that hold
   MLT's assets in Australia.

whereupon MLT and/or its subsidiaries shall make such prepayment (and pay such other amounts in accordance with the respective terms of the Debt Facilities) within a stipulated period. This may also in turn constitute a Notes Event under the Notes.

The aggregate amount of the outstanding Notes and the existing outstanding Debt Facilities that may be affected by the Notes Event amounts to the Singapore Dollar equivalent of approximately S$4,673 million, of which S$3,681 million is drawn and outstanding as at 24 November 2021.

As at the date of this announcement, none of the conditions described above has been breached.

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

24 November 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 fromthem may fall as w ell 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 w hile the Units are listed. It is intended that Unitholders of MLT 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 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 w ithout limitation, must not be published in any United States edition of any publication.

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