CACHE LOGISTICS TRUST ANNUAL GENERAL MEETING 23 APRIL 2018 Agenda - PowerPoint PPT Presentation

CACHE LOGISTICS TRUST ANNUAL GENERAL MEETING 23 APRIL 2018

Agenda 01 FY2017 PERFORMANCE LATEST DEVELOPMENTS 02 03 MARKET OUTLOOK 04 OUR STRATEGY & FOCUS IN 2018 05 MORE INFO ON CACHE

2 Key Milestones since IPO  Acquisition of Pan Asia  Commenced developing  Continued to maintain a Logistics Centre for DHL Supply Chain strong operating approx S$35.2 mil Advanced Regional performance through a  Listed on SGX on 12 April  Acquisition of Pandan Centre, Singapore, proactive asset 2010 Cache’s first BTS management strategy Logistics Centre for  Six properties valued at logistics warehouse  Signed over 1.2 mil sf of S$66.0 mil S$729.9 mil (completed July 2015) leases and maintained a  Renewed master lease at high portfolio CWT Commodity Hub to occupancy of 96.4% as April 2018 at 31 December 2016 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017  Divested Changi DC3 for  Acquisition of Precise  Embarked on the Portfolio  Acquisition of Changi S$25.5 mil  Acquisition of Spotlight Two for S$55.2 mil Rebalancing & Growth Districentre 3 and Kim Heng Strategy Warehouse for S$39.8 mil;  Positioned Cache to warehouse in Melbourne  Entered Australia with and Air Market Logistics for A$22.3 mil pursue its third engine of Centre for S$13.0 mil  Successfully raised growth through acquisitions of 6  Entered the Chinese market development of build-to- warehouses in Sydney, S$102.7 mil in a Rights suit (BTS) facilities Melbourne, Brisbane and with acquisition of Jinshan Issue Adelaide for A$163.9 mil Chemical Warehouse for  Reached amicable  Divested Kim Heng RMB71.0 mil resolution of dispute at Warehouse for S$9.7 mil 51 Alps Ave, Singapore 3

2017 Milestones Achieved positive resolution Cache received the Gold to the lease dispute at 51 Alps Award in the Industrial REITs Ave, SG. Cache received a category at the Best of Divested Cache sum of S$8.2 million for rental Breeds REITs Awards 2017 Changi Districentre 3 top-up to market rent. August January October 2017 March September November Established a S$1 billion Successfully launched a multi-currency debt 18-for-100 Rights Issue programme as part of its Acquired Spotlight to raise S$102.7 million prudent capital Warehouse, Laverton North, in preparation for future management to diversify Victoria, Australia growth opportunities funding sources 4

Cache at Present Quality, Resilient Portfolio in Singapore, Australia and China Singapore 1. CWT Commodity Hub 2. Cache Cold Centre 3. Pandan Logistics Hub 4. Precise Two 5. Hi-Speed Logistics Centre 6. Schenker Megahub 7. Cache Changi Districentre 1 8. Cache Changi Districentre 2 China 9. Pan Asia Logistics Centre 10. Air Market Logistics Centre 11. DHL Supply Chain Advanced Regional Centre China 12. Jinshan Chemical Warehouse, Shanghai Australia Singapore 13. 127 Orchard Road, Chester Hill, NSW 14. 3 Sanitarium Drive, Berkeley Vale, NSW 15. 404 – 450 Findon Road, Kidman Park, SA 16. 51 Musgrave Road, Coopers Plains, QLD 17. 203 Viking Drive, Wacol, QLD 18. 223 Viking Drive, Wacol, QLD 19. 11-19 Keller Street, Berrinba, QLD Portfolio Statistics (1) 20. 196 Viking Drive, Wacol, QLD  28 Properties 21. 16 – 28 Transport Drive, Somerton, VIC Australia 22. 217 – 225 Boundary Road, Laverton North, VIC  9.1 mil sf GFA 23. 16-24 William Angliss Drive, Laverton North, VIC 24. 151-155 Woodlands Drive, Braeside, VIC  S$1.4 bil in property value 25. 41-51 Mills Road, Braeside, VIC 26. 67-93 National Boulevard, Campbellfield, VIC  Singapore, Australia & China 27. 41-45 Hydrive Close, Dandenong South, VIC 28. 76-90 Link Drive, Campbellfield, VIC Note: (1) Includes Hi-Speed Logistics Centre located at 40 Alps Ave. The proposed divestment of 40 Alps Ave, Singapore was announced on 18 January 2018. 5

01 FY2017 PERFORMANCE CWT Commodity Hub is one of Singapore’s largest warehouses. Measuring close to 2.3 million sf, the large floor plate and high ceiling height appeals to 3 rd Party Logistics Providers.

FY2017 Financial Performance 01 FY2017 Gross Revenue/ NPI held steady S$’000 unless otherwise noted FY17 FY16 Chg (%) Gross Revenue 111,960 111,271 0.6 Net Property Income (NPI) 87,291 88,014 (0.8) Income Available for Distribution 66,015 69,318 (4.8) - from operations 64,403 66,915 (3.8) - from capital (1) 1,612 2,403 (32.9) Distribution per Unit (DPU) (cents) (2) 6.583 7.391 (10.9) - from operations 6.418 7.135 (10.0) - from capital (1) 0.165 0.256 (35.5) Without the effect of the Rights Issue, FY17 DPU fell by a moderate 6.2% FY17 FY16 Chg (%) Distribution per Unit (DPU) (cents) 7.247 7.725 (6.2) - from operations 7.069 7.457 (5.2) - from capital (1) 0.178 0.268 (33.6) (1) Relates to the sale proceeds from the disposal of Kim Heng Warehouse. (2) As reported and recomputed. • Higher contribution from the Australia portfolio, DHL Supply Chain Advanced Regional Centre and Cache Cold Centre and rental top-up amount received from 51 Alps Ave, SG • Lower DPU mainly attributable to distribution adjustments and an enlarged units base 7

Capital Management 3 01 Balance Sheet and Key Financial Indicators Reduced Aggregate Leverage and Diversified Funding Sources Balance Sheet 31 Dec 2017 Key Financial Indicators 31 Dec 2017 Total Assets S$1,229 mil S$446.7 mil Total Borrowings Total Liabilities S$463 mil Aggregate Leverage Ratio 36.3% Net Assets Attributable S$766 mil All-in Financing Cost 3.56% to Unitholders NAV Per Unit (1) Interest Coverage Ratio (2) S$0.716 4.2 times Debt Headroom Aggregate Leverage (S$ mil) 193.4 43.1% 36.3% 43.1 31 Dec 2016 31 Dec 2017 31 Dec 2016 31 Dec 2017 Notes: (1) Based on 1,069,700,408 Units. (2) Includes margin and amortisation of capitalised upfront fee. 8

Capital Management 01 Forex and Interest Rate Management Reduced Aggregate Leverage and Diversified Funding Sources Floating Debt Maturity Profile Rate ($ mil in relevant currency) 23.2% Repaid S$99.9 Interest Rate million of SGD Hedging loan facilities A$30.0 Fixed Rate 76.8% A$29.3 • 76.8% of borrowings hedged for 1.1 years. S$99.9 • 90.5% of SGD borrowings and 50% of onshore AUD borrowings are hedged into fixed rates. S$150 SGD Unhedged S$94.1 85.8% (AUD, RMB) S$90 5.7% Forex A$48.5 Hedging Hedged (AUD) 2018 2019 2020 2021 8.5% SGD borrowings Debt repayment AUD borrowings • 94.3% of distributable income is hedged or derived in SGD. 9

01 1 Proactive Asset Management Signed over 852,700 sq ft of leases in FY2017 – a significant achievement Sq ft Leases signed in FY2017 (1) FY2017 500,000 21,500 450,000 852,700 sq ft 400,000 Total leases signed in FY2017 (1) 350,000 % Cache’s Net Lettable Area 300,000 11.6% 250,000 445,000 200,000 Committed Portfolio Occupancy 96.6% 150,000 225,800 100,000 Tenant Retention Ratio 75% 24,300 50,000 16,700 58,000 34,600 26,800 - 1Q 2Q 3Q 4Q New Leases Renewal and Expansion leases • Secured approx. 222,100 sq ft of renewals for leases due to expire in FY2017 • Signed a fresh lease at 51 Alps Ave post-mediation where Schenker continues to occupy 100% of the property until August 2021 • Successfully appealed and achieved approx. 17% savings in property tax for 7 properties in Singapore (2) . Land rent reduced by approx. 10% for 9 properties in Singapore (3) Notes: (1) Rounded to the nearest 100 sq ft. (2) Property tax reduction based on the comparison from the previous versus the latest assessed value for the respective properties. 10 (3) Land rent reduction based on the comparison from the previous versus the latest posted land rent for the respective properties.

01 1 Proactive Lease Management Maintained healthy occupancy since IPO 100.0% 95.0% 90.0% Converted several properties from master- 85.0% lease to multi-tenancy in an oversupplied market 80.0% Cache Singapore Portfolio Occupancy Singapore Warehouse Occupancy (JTC) • Achieved a strong average committed portfolio occupancy of 97.5% in FY2017 compared to the average island-wide occupancy of 88.7% • Testament to Cache’s quality property portfolio and its proactive leasing strategy 11

01 Portfolio Rebalancing & Growth Successful Execution of Portfolio Rebalancing & Growth Strategy Acquisition of Spotlight Warehouse, Divestment of Laverton North, Victoria, Australia Changi Districentre 3, Singapore • Cache expanded into China in FY2011 Australia 17% and into Australia in FY2015 Singapore 100% • In FY2015, Cache adopted a Portfolio China Rebalancing & Growth Strategy , 1% FY2017 focusing attention on divesting lesser- FY2010 Portfolio Portfolio performing assets and seeking growth Valuation: Valuation: in freehold properties with longer WALE c.S$1.2 bil S$744 mil and those offering higher NPI Yields • Cache will continue to pursue further growth by way of promoting build-to-suit Singapore 82% capabilities and lateral-thinking asset enhancement alternatives 12