Mapletree Industrial Trust : Investor Presentation Slides - The Proposed Acquisition of 18 Tai Seng, Singapore

Proposed Acquisition of 18 Tai Seng, Singapore

January 2019

Important Notice

This presentation shall be read in conjunction with Mapletree Industrial Trust's ("MIT") circular to unitholders in relation to the proposed acquisition of 18 Tai Seng, Singapore which is an interested person transaction dated 4 January 2019.

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.

Contents
1	Overview
2	Funding Structure and Valuation
3	Rationale for the Proposed Acquisition
4	Conclusion
5	EGM Resolution

OVERVIEW

18 Tai Seng, Singapore

Overview of the Proposed Acquisition

Proposed acquisition of 18 Tai Seng, Singapore, a unique nine-storey mixed-use industrial development with Business 2 industrial, office and retail spaces

Address

18 Tai Seng Street, Singapore 539775

Agreed property value

S$268.3 million

Total acquisition outlay

S$271.0 million

Vendor Land area Land tenure Plot ratio GFA

Mapletree Tai Seng Pte. Ltd. 126,799 square feet ("sq ft")

30 years commencing from 26 Mar 2014 3.5 (Business 2 Industrial: 2.5 & White: 1.0) 443,810 sq ft

384,212 sq ft

• - Industrial: 283,703 sq ft

  NLA

• - Office: 53,441 sq ft

• - Retail: 47,068 sq ftS$4.58 per square foot per month ("psf/mth")

Average passing rental rates1

• - Industrial: S$4.04 psf/mth

• - Office: S$5.15 psf/mth

• - Retail: S$7.64 psf/mth

WALE1 Occupancy rate2

3.6 years (by gross rental income) 87.4%

• 1 As at 30 Sep 2018.

• 2 As at 30 Sep 2018. As at the Latest Practicable Date, the committed occupancy rate of the Property was 94.3%, with all the committed leases to commence progressively up to 1 Mar 2019.