2Q/ 1H FY2017 Financial Results Presentation 21 July 2017 Agenda - PowerPoint PPT Presentation

2Q/ 1H FY2017 Financial Results Presentation 21 July 2017

Agenda Slide Performance Highlights 3 Financial Performance 5 Capital Management 11 Portfolio Performance 14 Market Outlook & Strategy 23 Appendix: About Cache Logistics Trust 32 2

Performance Highlights 1 Quick Summary of Financial Performance 2Q FY2017 Y-o-Y Q-o-Q Gross Revenue S$27.9 million -0.7% +3.1% Net Property Income S$21.7 million -4.0% +4.2% Distribution per Unit 1.800 cents -9.5% Unchanged Lease Management  Portfolio Occupancy 98.3% committed as at 30 June 2017  Total leases signed Approx. 260,400 sf in 2Q FY2017  Lease Expiry Long WALE of 3.5 years, with only 1.8% of NLA expiring in FY2017  51 Alps Ave Holding Arrangement remains in place with efforts being taken to expedite court proceedings Portfolio Rebalancing & Growth Strategy  Divested Cache Changi Districentre 3 for S$25.5 million in January 2017 – part of the portfolio rebalancing and growth strategy to prudently manage and recycle capital into better-performing assets  Divestment proceeds reinvested into A$22.25 million Spotlight warehouse in Melbourne in March 2017 Capital Management  All-in Finance Cost for the qtr: 3.46% (2Q FY2016: 3.55%)  Aggregate Leverage: 43.4% as at 30 June 2017 3

Financial Performance 2 CWT Commodity Hub is one of Singapore’s largest warehouses and one of the largest CWT Commodity Hub in SE Asia. Measuring close to 2.3 million sf, the large floor plate and high ceiling height appeals to 3 rd -Party Logistics Providers.

Financial Performance 2 2Q FY2017 Year-on-Year Performance • Gross Revenue fell marginally by S$0.2 million (0.7%) and NPI fell by S$0.9 million (4.0%): • Higher contribution from DHL Supply Chain Advanced Regional Centre, Cache Cold Centre, Pandan Logistics Hub, Cache Changi Districentre 1 and Spotlight warehouse (217 – 225 Boundary Road, Laverton North, Victoria, Australia) • Lower contribution from 51 Alps Ave, Singapore received under protest due to ongoing legal action • Lower NPI from Hi-Speed Logistics Centre, Singapore due to conversion from master lease to multi- tenancy • Reduction in contribution from Cache Changi Districentre 3 which was divested in January 2017 • 2Q FY2017 DPU fell by 9.5% to 1.8 cents 2Q 2Q Change FY2017 FY2016 (%) S$’000 unless otherwise noted Gross Revenue 27,894 28,088 (0.7) Net Property Income (NPI) 21,657 22,554 (4.0) Income Available for Distribution 16,253 17,830 (8.8) - from operations 16,135 17,830 (9.5) - from capital (1) 118 - nm Distribution per unit (DPU) (Cents) 1.800 (2) 1.989 (3) (9.5) - from operations 1.787 1.989 (10.2) - from capital (1) 0.013 - nm Notes: (1) Relates to a portion of the sale proceeds from the disposal of Kim Heng Warehouse (2) Based on 903,142,868 units 5 (3) Based on 896,415,919 units

Financial Performance 2 2Q FY2017 Quarter-on-Quarter Performance • Gross Revenue and NPI increased by S$0.8 million (3.1% and 4.2% respectively): • Full quarter’s contribution from Spotlight warehouse • Higher contribution from DHL Supply Chain Advanced Regional Centre and Cache Changi Districentre 1 • Reduction in contribution from the divestment of Cache Changi Districentre 3 in January 2017 • 2Q FY2017 DPU was 1.800 cents (unchanged). DPU from operations increased 5.3% to 1.787 cents 2Q 1Q Change S$’000 unless otherwise noted FY2017 FY2017 (%) Gross Revenue 27,894 27,058 3.1 Net Property Income (NPI) 21,657 20,776 4.2 Income Available for Distribution 16,253 16,235 0.1 - from operations 16,135 15,306 5.4 - from capital (1) 118 929 (87.3) 1.800 (2) 1.800 (3) Distribution per unit (DPU) (Cents) - - from operations 1.787 1.697 5.3 - from capital (1) 0.013 0.103 (87.4) Notes: (1) Relates to a portion of the sale proceeds from the disposal of Kim Heng Warehouse (2) Based on 903,142,868 units (3) Based on 901,850,001 units 6

Financial Performance 2 1H FY2017 Year-on-Year Performance • Gross Revenue fell by S$1.0 million (1.8%) and NPI fell by S$2.2 million (4.9%): • Higher contribution from DHL Supply Chain Advanced Regional Centre, Cache Cold Centre, Pandan Logistics Hub, Cache Changi Districentre 1 and Australian portfolio • Lower contribution from 51 Alps Ave, Singapore received under protest due to ongoing legal action • Lower NPI from 40 Alps Ave, Singapore due to conversion from master lease to multi-tenancy • Reduction in contribution from the divestment of Changi Districentre 3 in January 2017 • 1H FY2017 DPU fell by 10.6% to 3.60 cents 1H 1H Change FY2017 FY2016 (%) S$’000 unless otherwise noted Gross Revenue 54,952 55,956 (1.8) Net Property Income (NPI) 42,433 44,605 (4.9) Income Available for Distribution 32,488 36,078 (10.0) - from operations 31,441 34,431 (8.7) - from capital (1) 1,047 1,647 (36.4) Distribution per unit (DPU) (Cents) 3.600 4.028 (10.6) - from operations 3.484 3.844 (9.4) - from capital (1) 0.116 0.184 (37.0) Notes: (1) Relates to a portion of the sale proceeds from the disposal of Kim Heng Warehouse 7

Financial Performance 2 Balance Sheet In S$’000 unless otherwise noted as at 30 June 2017 31 March 2017 Investment Properties 1,240,055 1,241,315 Other Assets 17,507 15,598 Total Assets 1,257,562 1,256,913 Debt, at amortised cost (542,971) (538,787) Other Liabilities (1) (18,951) (19,578) Total Liabilities (561,922) (558,365) Net Assets Attributable to Unitholders 695,640 698,548 Total units in issue (2) 903,142,868 901,850,001 Net Asset Value (NAV) per Unit (S$) 0.770 0.775 Notes: (1) Includes fair value changes in interest rate swaps and forward foreign currency contracts (2) Includes units issued to the Manager as partial consideration of Manager’s fees for each financial period and the Manager’s annual performance fees 8

Financial Performance 2 Distribution Details SGX Distribution Per Unit Payment Distribution Period Stock Code (S$) Date K2LU 1 April 2017 – 30 June 2017 1.800 cents 28 August 2017 Distribution Timetable Last day of trading on “cum” basis 26 July 2017 Ex-Dividend Date 27 July 2017 Books Closure Date 31 July 2017 Distribution Payment Date 28 August 2017 9

Capital Management 3 Pan Asia Logistics Centre, Pan Asia Logistics Centre is on a 10-year master lease to Pan Asia Logistics Singapore Pte Ltd, a global provider of integrated logistics and supply chain solutions. Singapore

Capital Management 3 • All-in cost of financing cost in 2Q FY2017 was marginally lower at 3.46% (2Q FY2016: 3.55%) • No SGD borrowings due for refinancing until 2H 2018 • The manager is focused on executing its portfolio rebalancing and growth strategy, with a view to achieve a lower aggregate leverage ratio over time For the quarter ending 30 June 2017 31 March 2017 Total Borrowings (1) S$545.9 mil S$542.1 mil Aggregate Leverage 43.4% 43.1% Weighted Average Debt Maturity 2.3 years 2.6 years Average All-in Financing Cost (2) 3.46% 3.47% Interest Cover Ratio (ICR) for the quarter 4.0 times 3.9 times Notes: (1) Includes AUD loan facilities, excludes unamortised transaction costs (2) Includes margin and amortisation of capitalised upfront fee 11

Capital Management 3 Well-staggered debt maturity profile Prudent interest rate and forex risk management Interest Rate Risk Management Debt Maturity Profile ($mil) • 62.9% of borrowings hedged for 1.6 years AUD borrowings SGD borrowings • 70.0% of SGD borrowings and 50% of onshore AUD borrowings are hedged into fixed rates A$30.0 A$29.3 Floating Fixed Rate Rates 37.1% 62.9% S$192.0 S$150.0 Forex Risk Management S$90.0 A$48.5 • 94.3% of distributable income is hedged or derived in SGD 2017 2018 2019 2020 2021 Unhedged (AUD, RMB) SGD 5.7% 85.7% Hedged (AUD) 8.6% 12

Portfolio Performance 4 Located within the established industrial suburb of Wacol, the property is 203 Viking Drive, Wacol master-leased to Western Star Trucks Australia Pty Ltd for Queensland, Australia a long WALE of 7.9 years at the time of purchase.

Portfolio Performance 4 Portfolio Overview Quality Portfolio of 19 Warehouses in Singapore, Australia and China CHINA 12. Jinshan Chemical Warehouse, Shanghai SINGAPORE AUSTRALIA 1. CWT Commodity Hub 13. 127 Orchard Road, Chester Hill, NSW 2. Cache Cold Centre 14. 404-450 Findon Road, Kidman Park, SA 3. Pandan Logistics Hub 15. 51 Musgrave Road, Coopers Plains, QLD SINGAPORE 4. Precise Two 16. 203 Viking Drive, Wacol, QLD 5. Schenker Megahub 17. 223 Viking Drive, Wacol, QLD 6. Hi-Speed Logistics Centre 18.16 – 28 Transport Drive, Somerton, VIC 7. Cache Changi Districentre 1 19. 217 – 225 Boundary Road, Laverton North, VIC 8. Cache Changi Districentre 2 9. Pan Asia Logistics Centre 10.Air Market Logistics Centre 11.DHL Supply Chain Advanced Regional Centre 14