Mapletree Industrial Trust : Issuance and Despatch of Circular in Relation to the Proposed Acquisition of 18 Tai Seng Located at 18 Tai Seng Street, Singapore 539775 (the "Proposed Acquisition")

(Constituted in the Republic of Singapore pursuant to a Trust Deed dated 29 January 2008 (as amended))

ANNOUNCEMENT

ISSUANCE AND DESPATCH OF CIRCULAR IN RELATION TO THE PROPOSED ACQUISITION OF 18 TAI SENG LOCATED AT 18 TAI SENG STREET, SINGAPORE 539775 (THE "PROPOSED ACQUISITION")

4 January 2019 - Further to the announcement dated 13 December 2018 in relation to the Proposed Acquisition, Mapletree Industrial Trust Management Ltd., in its capacity as manager of Mapletree Industrial Trust ("MIT", and the manager of MIT, the "Manager"), wishes to announce that MIT has today issued a circular to unitholders of MIT ("Unitholders") dated 4 January 2019 (the "Circular") setting out the details of and other relevant information in relation to the Proposed Acquisition, together with a notice for convening an extraordinary general meeting of Unitholders on 22 January 2019 (Tuesday) at 2.30 p.m. at 10 Pasir Panjang Road, Mapletree Business City, Town Hall - Auditorium, Singapore 117438, for the purpose of seeking the approval of the Unitholders for the Proposed Acquisition.

The Circular will be despatched to Unitholders on or about 8 January 2019. A copy of the Circular has been uploaded on SGXNET today atwww.sgx.com.An electronic copy of the Circular is also available on the website of MIT atwww.mapletreeindustrialtrust.com.

By order of the Board

Wan Kwong Weng

Joint Company Secretary

Mapletree Industrial Trust Management Ltd. (Company Registration No. 201015667D) As Manager of Mapletree Industrial Trust

Important Notice

This announcement (this "Announcement") is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in MIT ("Units"). The value of Units and the income derived from them may fall as well as rise. 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.

The past performance of MIT is not necessarily indicative of the future performance of MIT.

The information in this Announcement must not be published outside the Republic of Singapore and in particular, but without limitation, must not be published in any United States edition of any publication.

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