Results for the Fourth Quarter and Full Year ended 31 December 2010 - PowerPoint PPT Presentation

Results for the Fourth Quarter and Full Year ended 31 December 2010

Disclaimer This Presentation is focused on comparing results for the three months ended 31 December 2010 versus results achieved in the three months ended 31 December 2009 and versus results achieved in the previous quarter ended 30 September 2010. This shall be read in conjunction with Mapletree Logistics Trust’s financial results for the three months ended 31 December 2010 in the SGXNET announcement. This release may 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 a number of risks, uncertainties and assumptions. Representative examples of number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events. 1

Agenda � Key Highlights � Capital Management � Resilient Portfolio � Outlook � Summary � Appendix 2

Key Highlights

Key Highlights � Stable and positive 4Q 2010 results � Amount Distributable increased by 17% to S$37 million for 4Q 2010 � Improvement in results attributed to contribution from acquisitions completed in last 2 quarters as well as robust performance of underlying assets � Portfolio value recorded 1% revaluation gain of S$32 million in FY2010 (vs last year’s reported loss of 1%) � DPU for FY 2010 grew to 6.1 cents from 5.9 1 cents in FY 2009 � Organic growth of 2% in 4Q 2010 � Organic growth of 2% in 4Q 2010 � High occupancy rate of 98%; with Malaysia occupancy rate increased from 95% to over 99% � Positive rental reversion across the portfolio on the back of higher demand 1 – excludes 0.11 cents resulting from a one-time consideration from Prima Limited ("Prima") to extend the leases and licenses with Prima at 201 Keppel Road by 8 years. For details, please 4 see SGXNET announcement dated 31 December 2009.

Key Highlights (cont’d) � 100% distribution payout � Remain committed to 100% distribution payout since IPO � No balance sheet risk � Comfortable gearing ratio of 37.7% as at 31 Dec 2010 � Healthy interest cover ratio of 6.0x � Unsecured debt provides MapletreeLog with significant financial flexibility � Yield + Growth strategy � Yield + Growth strategy � Continued focus on yield optimisation and proactive portfolio management � Growing acquisition pipeline in Singapore and rest of Asia � Discipline approach in respect to acquisitions 5

Key Highlights (cont’d) � Strong and committed Sponsor � Support and commitment from Sponsor displayed during recent equity fund raising � Subscribed for 100% of its entitlement under preferential offering: was prepared to subscribe for the entire tranche of S$130 million � Approximately S$300 million of Sponsor’s development pipeline completed or nearing completion � Additional development pipeline in Japan from joint venture between � Additional development pipeline in Japan from joint venture between Sponsor and Itochu – US$300-500 million over next 3-5 years. MapletreeLog has right of first refusal 6

Statement of Total Return – 3Q vs 4Q 2010 IN S$ THOUSANDS 3Q 2010 4Q 2010 Variance GROSS REVENUE 54,504 61,006 12% PROPERTY EXPENSES (6,877) (7,164) 4% NET PROPERTY INCOME 47,627 53,842 13% AMOUNT DISTRIBUTABLE AMOUNT DISTRIBUTABLE 31,524 31,524 36,844 36,844 17% 17% AVAILABLE DPU (CENTS) 1.54 1.55 1% PROPERTY EXPENSES / (12.6)% (11.7)% 1% GROSS REVENUE NPI / GROSS REVENUE 87.4% 88.3% 1% AMOUNT DISTRIBUTABLE / 57.8% 60.4% 3% GROSS REVENUE 7

Statement of Total Return – FY2009 vs FY2010 IN S$ THOUSANDS FY 2009 FY 2010 Variance GROSS REVENUE 206,786 218,895 6% (25,949) (25,849) 0% PROPERTY EXPENSES 180,837 193,046 7% NET PROPERTY INCOME AMOUNT DISTRIBUTABLE 117,881 130,068 10% AVAILABLE DPU (CENTS) 6.02 6.09 1.2% 1 ADJUSTED DPU (CENTS) 5.91 6.09 3% PROPERTY EXPENSES / (12.5)% (11.8)% 1% GROSS REVENUE 87.5% 88.2% 1% NPI / GROSS REVENUE AMOUNT DISTRIBUTABLE / 2 57.0% 59.4% 2% GROSS REVENUE 1 - This excludes 0.11 cents resulting from a one-time consideration from Prima Limited ("Prima") to extend the leases and licenses with Prima at 201 Keppel Road by 8 years. For details, please see SGXNET announcement dated 31 December 2009. 8 2 - If we exclude the S$2.5m Prima consideration (net of costs) from the amt distributable, the % will be 55.9%.

Scorecard Since IPO (Amount Distributable) ������������ � ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����� ����� ����� ���� ���� �������������� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��������� 36.9 100 42.0 31.5 39.0 30.9 90 30.8 31.8 28.8 28.3 28.6 28.7 25.4 36.0 22.6 96 80 21.0 33.0 19.7 29.5 3 Amount Distributa ber of properties 70 91 30.0 86 19.1 84 82 17.7 27.0 81 81 81 81 60 15.3 24.0 79 50 21.0 11.8 76 10.7 40 72 18.0 9.6 9.6 70 70 Numb table (S$m) 15.0 15.0 30 30 61 8.3 58 6.0 49 12.0 4.3 20 9.0 41 18 10 15 28 36 6.0 24 0 3.0 1 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 � �������!����"��������� � �������!����"�������� � �������!����"�������� � �������!����"�������� � �������!����"��������� CAGR = 50% 1: Period for 3Q 2005 is from 28 Jul 2005 (Listing Date) to 30 Sep 2005 2: Decline in portfolio asset value is due to currency movements 3: Excludes the one-time consideration from Prima Limited to extend the leases and licenses with them at 201 Keppel Road by 8 years. For details, please see SGXNET announcement dated 31 December 2009. Including this, amount distributable is S$31.8 million for 4Q 2009 and S$ 117.9 million for FY 2009. 9

Scorecard Since IPO (DPU) ������������ � ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����� ����� ����� ���� ���� �������������� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��������� 2.04 2.10 1.90 140 1.84 1.90 1.78 1.72 120 mber of properties 1.59 1.70 1.55 Actual DPU (cen 1.54 2 1.59 1.50 1.50 1.48 1.48 1.48 1.47 100 1.46 1.45 1.50 1.32 1.48 4 80 1.30 1.19 1.10 1.05 60 60 ents) 1.10 1.10 Num 96 91 86 84 81 81 81 81 82 40 79 0.80 76 0.90 72 70 61 58 49 41 20 0.70 36 28 24 18 15 0 0.50 1 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 � ���!#$�"������%�&�� � ���!#$�"������%�&�� � ���!#$�"������%�&�� � ���!#$�"������%�&�� � ���!#$�"������%�&�� CAGR = 14% 1: Period for 3Q 2005 is from 28 Jul 2005 (Listing Date) to 30 Sep 2005 2: Drop in DPU in 4Q 2008 is due to increase in number of units following the 3 for 4 rights issue in August 2008 which increased the number of units from 1,108 million to 1,939 million 3: Decline in portfolio asset value is due to currency movements 4: Excludes the one-time consideration from Prima to extend the leases and licenses with them at 201 Keppel Road by 8 years. For details, please see SGXNET announcement dated 31 December 2009. Including this, DPU is 1.59 cents for 4Q 2009 and 6.02 cents for FY 2009. 10

Capital Management