2Q & 1HFY20/21 Financial Results 27 October 2020 Important - PowerPoint PPT Presentation

2Q & 1HFY20/21 Financial Results 27 October 2020

Important Notice This presentation shall be read in conjunction with Mapletree Industrial Trust’s (“MIT”) financial results for Second Quarter Financial Year 2020/2021 in the SGXNET announcement dated 27 October 2020. This presentation is for information only and does not constitute an offer or solicitation of an offer to sell or invitation to subscribe for or acquire any units in Mapletree Industrial Trust (“Units”) . The past performance of the Units and MIT is not indicative of the future performance of MIT or Mapletree Industrial Trust Management Ltd. (the “Manager”) . The value of Units and the income from them may rise or fall. 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 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. This presentation may also 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 risks, uncertainties and assumptions. Representative examples of these factors include general industry and economic conditions, interest rate trends, cost of capital, occupancy rate, construction and development risks, changes in operating expenses (including employees wages, benefits and training costs), governmental and public policy changes and the continued availability of financing. You are cautioned not to place undue reliance on these forward-looking statements, which are based on current view of management on future events. Nothing in this presentation should be construed as financial, investment, business, legal or tax advice and you should consult your own independent professional advisors. 2

Contents Key Highlights – 1 Jul 2020 to 30 Sep 2020 01 02 2Q & 1HFY20/21 Financial Performance 03 Portfolio Update 04 Investment Update 05 Outlook and Strategy 3

KEY HIGHLIGHTS 1 JUL 2020 TO 30 SEP 2020 Hi-Tech Building, 18 Tai Seng

Key Highlights  Growth driven by new revenue contribution from 14 data centres in the United States of America (the “United States”) offset by rental reliefs extended to tenants and loss of revenue due to redevelopment of Kolam Ayer 2 Cluster • 2QFY20/21 Distributable Income: S$72.9 million ( 14.8% y-o-y) • 2QFY20/21 DPU: 3.10 cents ( 1.0% y-o-y)  Portfolio update • Average Overall Portfolio occupancy increased q-o-q from 91.1% to 92.3% in 2QFY20/21  Increasing exposure to the resilient data centre sector • Completed acquisition of remaining 60% interest in 14 data centres in the United States from the Sponsor on 1 Sep 2020 • Announced proposed acquisition of a data centre located in Virginia, United States on 14 Sep 2020  Capital management update • Healthy aggregate leverage ratio of 38.1% • Strong balance sheet with more than S$400 million of committed facilities available 5

Sustainable and Growing Returns DPU Distributable Income (cents) (S$ million) 100 3.50 2.882.953.003.01 3.07 3.083.103.133.16 3.10 90 3.00 2.732.792.822.812.852.832.832.882.92 2.852.87 3.00 80 2.60 2.672.65 2.16 2.222.262.292.322.372.432.472.512.512.51 72.9 69.469.2 70.6 2.50 70 63.263.5 1.931.98 2.05 45.446.046.748.248.950.350.451.550.651.151.852.954.053.555.556.956.758.359.9 60 2.00 50 1.52 35.235.836.937.537.738.940.241.142.242.642.8 1.50 40 31.6 28.329.0 30 1.00 22.3 20 0.50 10 0 0.00 3Q¹ 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY10/11 FY11/12 FY12/13 FY13/14 FY14/15 FY15/16 FY16/17 FY17/18 FY18/19 FY19/20 FY20/21 DPU 3.45 8.41 9.24 9.92 10.43 11.15 11.39 11.75 12.16 12.24 Distributable Income (S$ million) DPU (cents) (cents) 1 MIT was listed on 21 Oct 2010. 6

2Q & 1HFY20/21 FINANCIAL PERFORMANCE Hi-Tech Buildings, build-to-suit project for HP

Statement of Profit or Loss (Year-on-Year) 2QFY20/21 2QFY19/20  / (  ) (S$’000) (S$’000) Gross revenue 103,350 101,872 1.5% Property operating expenses (21,748) (21,883) (0.6%) Net property income 81,602 79,989 2.0% Borrowing costs (12,015) (11,342) 5.9% Trust expenses (9,724) (9,053) 7.4% Share of joint ventures’ results 1 12,274 4,450 >100.0% Profit before income tax 72,137 64,044 12.6% Income tax expense (201) - ** Profit for the period 71,936 64,044 12.3% Net non-tax deductible items (10,992) (4,387) >100.0% Distributions declared by joint ventures 11,940 3,850 >100.0% Amount available for distribution 72,884 63,507 14.8% Distribution per Unit (cents) 3.10 2 3.13 (1.0%) ** Not meaningful Share of joint ventures’ results relate to MIT’s equity interest in the joint ventures with MIPL. The results of the joint ventures were equity 1 accounted at the Group level. With effect from 1 Sep 2020, upon completion of the acquisition of the remaining 60% interest, financial results of the 14 data centres in the United States previously held under Mapletree Redwood Data Centre Trust (“MRDCT”) has been consolidated. 2 As announced on 2 Jul 2020, MIT declared an advanced distribution of 0.03 cent per unit for 1 Jul 2020. The advanced distribution was paid on 28 Jul 2020. 8

Statement of Profit or Loss (Year-on-Year) 1HFY20/21 1HFY19/20  / (  ) (S$’000) (S$’000) Gross revenue 202,456 201,447 0.5% Property operating expenses (42,202) (43,539) (3.1%) Net property income 160,254 157,908 1.5% Borrowing costs (22,583) (21,918) 3.0% Trust expenses (19,061) (17,888) 6.6% Share of joint ventures’ results 1 26,022 8,761 >100.0% Profit before income tax 144,632 126,863 14.0% Income tax expense (201) - ** Profit for the period 144,431 126,863 13.8% Net non-tax deductible items (22,376) (7,719) >100.0% Distributions declared by joint ventures 21,387 7,604 >100.0% Amount available for distribution 143,442 2 126,748 13.2% Distribution per Unit (cents) 5.97 2, 3 6.23 (4.2%) ** Not meaningful Share of joint ventures’ results relate to MIT’s equity interest in the joint ventures with MIPL. The results of the joint ventures were equity accounted at the 1 Group level. With effect from 1 Sep 2020, upon completion of the acquisition of the remaining 60% interest, financial results of the 14 data centres in the United States previously held under MRDCT has been consolidated. 2 Amount available for distribution includes tax-exempt income amounting to S$7.1 million withheld and not included in the 39th distribution (equivalent to distribution per unit of 0.32 cent). Had the tax-exempt income distribution been included, DPU for 1HFY20/21 would be 6.29 cents. 3 As announced on 2 Jul 2020, MIT declared an advanced distribution of 0.03 cent per unit for 1 Jul 2020. The advanced distribution was paid on 28 Jul 2020. 9

Statement of Profit or Loss (Qtr-on-Qtr) 2QFY20/21 1QFY20/21  / (  ) (S$’000) (S$’000) Gross revenue 103,350 99,106 4.3% Property operating expenses (21,748) (20,454) 6.3% Net property income 81,602 78,652 3.8% Borrowing costs (12,015) (10,568) 13.7% Trust expenses (9,724) (9,337) 4.1% Share of joint ventures’ results 1 12,274 13,748 (10.7%) Profit before income tax 72,137 72,495 (0.5%) Income tax expense (201) - ** Profit for the period 71,936 72,495 (0.8%) Net non-tax deductible items (10,992) (11,384) (3.4%) Distributions declared by joint ventures 11,940 9,447 26.4% Amount available for distribution 72,884 70,558 3 3.3% Distribution per Unit (cents) 3.10 2 2.87 3 8.0% ** Not meaningful 1 Share of joint ventures’ results relate to MIT’s equity interest in the joint ventures with MIPL. The results of the joint ventures were equity accounted at the Group level. With effect from 1 Sep 2020, upon completion of the acquisition of the remaining 60% interest, financial results of the 14 data centres in the United States previously held under MRDCT has been consolidated. 2 As announced on 2 Jul 2020, MIT declared an advanced distribution of 0.03 cent per unit for 1 Jul 2020. The advanced distribution was paid on 28 Jul 2020. 3 Amount available for distribution includes tax-exempt income amounting to S$7.1 million withheld and not included in the 39th distribution (equivalent to 10 distribution per unit of 0.32 cent). Had the tax-exempt income distribution been included, DPU for 1QFY20/21 would be 3.19 cents.

Statement of Financial Position  / (  ) 30 Sep 2020 30 Jun 2020 Total assets (S$’000) 6,255,220 5,297,002 18.1% Total liabilities (S$’000) 2,272,950 1,732,913 31.2% Net assets attributable to Unitholders 3,982,270 3,564,089 11.7% (S$’000) Net asset value per Unit (S$) 1 1.69 1.62 4.3% 1 Net tangible asset per Unit was the same as net asset value per Unit as there were no intangible assets as at reporting dates. 11