Mapletree Industrial Trust : MIT's 4Q & FY2022/2023 Financial Results - Presentation Slides

4Q & FY22/23

Financial Results

27 April 2023

Important Notice

This presentation shall be read in conjunction with Mapletree Industrial Trust's ("MIT") financial results for Fourth Quarter Financial Year 2022/2023 in the SGXNET announcement dated 27 April 2023.

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.

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Contents

1. Key Highlights - 1 Apr 2022 to 31 Mar 2023
2. 4Q & FY22/23 Financial Performance
3. Portfolio Update
4. Investment Update
5. Outlook and Strategy

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KEY HIGHLIGHTS 1 APR 2022 TO 31 MAR 2023

Data Centres, 13831 Katy Freeway, Houston

Key Highlights

 Higher Net Property Income driven by contribution from the acquisition of 29 data centres in the United States, offset by higher borrowing costs

• FY22/23 Net Property Income: S$518.0 million ( 9.7% y-o-y)

• FY22/23 Distributable Income: S$356.6 million ( 1.6% y-o-y)

• FY22/23 DPU: 13.57 cents ( 1.7% y-o-y)

 Successful completion of largest redevelopment project, Mapletree Hi-Tech Park @ Kallang Way

• Temporary Occupation Permits received for 161, 163 and 165 Kallang Way

• Increased committed occupancy to 44.1% (by NLA)

• Income from committed leases is expected to contribute progressively in FY23/24

 Stable portfolio performance

• Stable portfolio valuation of S$8,725.1 million ( 0.1% y-o-y)

• Average Overall Portfolio 4QFY22/23 occupancy of 94.9%

 Capital management update

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• Hedged borrowings of 75.5% and weighted average hedge tenor of 3.5 years

• Raised total proceeds of S$184.1 million from DRP for distributions from 3QFY21/22 to 3QFY22/23

• Healthy aggregate leverage ratio of 37.4%