Logistics Trust 10 th Annual General Meeting Presentation 3 June - PowerPoint PPT Presentation

ARA LOGOS Logistics Trust 10 th Annual General Meeting Presentation 3 June 2020

Agenda 1 ARA LOGOS Logistics Trust Overview 2 FY2019 Key Highlights 3 COVID-19 Update 4 Looking Ahead 5 Appendix 2

ARA LOGOS Logistics Trust Overview 41 – 51 Mills Road, Braeside, Victoria, AUS

Strong Sponsorship Positioning ALOG for the Next Stage of Growth Demonstrates Strong Commitment from ARA and LOGOS Access New Growth Markets, Alignment of Providing Asset, Expansion and Interest with Investment and Development Unitholders Leading APAC Real Opportunities Development Assets Fund Manager Expertise Access to LOGOS’ Leverage on Collective Leverage on Strong APAC Strong Global Partner LOGOS Expansive Expertise, Network and and Investor Network Network Resources and Pipeline Relationships Opportunities to Access to LOGOS Drive Future Growth Integrated Development Platform (1) ARA acquired a majority stake in LOGOS on 5 March 2020. 4

ARA Overview Leading APAC Real Assets Fund Manager with Global Reach Consistent, disciplined business expansion and launch of new products…. 2002 Expanding global Founded in 2002 with a strong APAC focus reach with Japan, Europe and US Global network, local expertise desks and 2018- Headquartered in Singapore with 9 offices worldwide, footprint in establishing 2020 >100 cities in 28 countries 2017 logistics, infrastructure, real Investor-operator model 2007 estate credit and Consortium real estate fintech Vertically-integrated investment, asset and property management to comprising John platforms 2002 add value to every stage of the asset life cycle Lim, CK Asset First fund Holdings, The manager Straits Trading Robust ESG John Lim and to be listed Company, Warburg CK Asset on SGX An integral part of the business, with strong CG practices to Pincus and AVIC Holdings Trust privatised ARA meet fiduciary needs of institutional investors founded ARA at ~S$1.8 billion S$88 billion 1 Gross Assets Managed by ARA Group and its Associates with robust track record Strong track record REITs and Private Real Estate Funds Real Estate Management Services Experienced management >25 years of experience on average Diversified platform Wide spectrum of real assets fund products across various geographies and sectors Includes assets under management by ARA Asset Management Limited and the Group of companies (“ARA Group”) and its Associates and Joint Ventures as at 31 (1) 5 December 2019.

LOGOS Overview Leading Logistics Developer and Real Estate Specialist in APAC Strong Regional Presence Vertically Integrated Platform with a Wide Offering • >US$1.5bil transacted in industrial and commercial real estate across the Transaction Group in last 12 months India sourcing GLA: 0.4mil sqm • Proven track record with access to off market deal flow AUM: US$0.2bil Assets: 3 • >US$1.5bil of development commencements in last 12 months 6mil sqm of logistics real estate owned and under development in • Development LOGOS ventures China GLA: 1.9mil sqm AUM: US$1.3bil >3mil sqm of space leased to clients including Toll, DHL, Linfox, Alibaba, • Assets: 19 REC and Kerry Logistics Leasing South East Asia • Strong regional relationships with key logistic and warehouse occupiers GLA: 1.6mil sqm AUM: US$2.4bil Assets: 20 Asset >US$7.0bil completed AUM in existing ventures • Management Trusted manager with high quality institutional partners • Australia and New Zealand • Value add delivered via strategic acquisitions and active asset GLA: 2.1mil sqm management AUM: US$3.0bil Divestment 18%-35% p.a. delivered IRR on A$1.8bil+ divestments of portfolios in Assets: 46 • Australia and China Summary of Key Capital Partners Key Tenant Customers Sovereign Australian Wealth Fund Pension Fund (1) As of 31 December 2019. 6

ARA and LOGOS Complementary Strengths Mixed Commercial Hospitality Infrastructure Logistics Logistics • • • • Landmark, premium mixed Upscale select-service hotels Global infrastructure fund Logistics warehouses in key commercial assets in carrying the Hyatt and Marriot backed by recognized, industrial zones in Singapore Singapore and Australia CBD brands in the US experienced partners with vast and Australia sector expertise • • • LOGOS – one of Asia Large portfolio of mixed Five-star hotels international Pacific’s leading logistics commercial assets in Greater hotels within mixed-used China and Korea developments in China property groups which will serve as ARA’s logistics real estate platform in the region Strategic Partners • ~24% stake in Cromwell Property Group with multisector assets across Australia, New Listed REITs Zealand and Europe Listed REITs LOGOS Significantly Augments ARA’s Existing Offerings 7

Our Track Record Since Listing Towards a Stronger and More Resilient Portfolio FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 1Q2020 FY2010 FY2011 FY2015 FY2018 1Q 2020 FY2019 Listed Entered China Portfolio Rebalancing & Exited the China market with ARA and LOGOS ARA completed acquisition of a majority on SGX. market with Growth Strategy - warehouse divestment. stake in LOGOS. LOGOS now operates as entered into strategic acquisition of ARA’s global logistics real estate platform . Entered AUS market by ARA acquired full control of transaction to establish logistics acquiring 6 logistics the Manager and became best-in-class logistics Cache Logistics Trust was also rebranded as warehouse. warehouses in the year. substantial 9.6% Unitholder. platform in APAC. ARA LOGOS Logistics Trust (1). GFA (mil sf) (2) Number of Assets (2) AUM (S$bil) (2) (1) Name change effective 28 April 2020. (2) Based on data as at 31 March 2020. 8

FY2019 Update DHL Supply Chain Advanced Regional Centre, Singapore

FY2019 Key Highlights Sound Fundamentals; Well-positioned to Address Future Volatility Prudent Strong Operating Performance Capital Portfolio Management Performance Aggregate Leverage Gross Revenue Strong Portfolio Occupancy 40.1% S$113.6 mil 95.3% committed Singapore – 94.2% All-in Financing Cost Australia – 96.9% NPI 3.84% S$85.8 mil WALE (by NLA) 3.0 years NAV (1) Distributable Income S$0.59 per unit S$59.8 mil Significant Leases Secured ~ 1.5 mil sf on the back of Interest Coverage Ratio (2) DPU to Unitholders 3.8 times 5.523 cents proactive leasing efforts Total Debt (3) S$513.3 mil Weighted Average Debt to Maturity 3.3 years Notes: (1) Based on 1,085,818,549 Units. The NAV Per Unit is computed based on the net assets attributable to Unitholders (2) Includes margin and amortisation of capitalised upfront fee, excluding non-recurring finance expenses, upfront fees written-off and FRS 116 adjustments. 10 (3) Excludes unamortised transaction costs.

FY 2019 vs FY 2018 Financial Performance Lower Gross Revenue and NPI of 6.6% Change S$’000 unless otherwise FY2019 FY2018 and 5.6% respectively, mainly due to: (%) noted • conversion of master lease to multi- tenancy lease structure for two Gross Revenue 113,555 121,540 (6.6) properties; • transitory vacancy downtime NPI 85,844 90,924 (5.6) between leases and lower signing rents as compared to previous Distributable Income 63,409 59,770 (5.7) leases; - from operations 58,042 62,241 (6.7) • absence of contribution from 40 Alps - from capital (1) 1,728 1,168 47.9 Ave and Jinshan Chemical Warehouse divested in 2018; DPU (cents) 5.523 (2) 5.903 (6.4) • weaker Australian dollar; and - from operations 5.363 5.794 (7.4) • partially offset by additional rental - from capital (1) 0.160 0.109 46.8 contribution from the warehouse in Altona, AUS acquired in Apr 2019 Notes: and the full year contribution from (1) Capital distribution for both FY2019 and FY2018 relates to reimbursements received from the the 9-property Australia portfolio vendor in relation to outstanding lease incentives at the point of completion of the acquisition of certain properties in Australia. Additionally, capital distribution for FY2019 includes rental acquired in Feb 2018. support received from the vendor in relation to a warehouse acquired in Australia in April 2019. Capital distribution in FY2018 also includes the capital gains/sale proceeds from the disposal of Kim Heng warehouse in 2015. (2) Based on 1,085,818,549 units issued and to be issued as at 31 Dec 2019. 11

1Q 2020 vs 4Q 2019 Performance Improved Overall Performance (S$ million) Adjusted DPU (1) (Cents) Excluding the retention of approx. S$2.5mil in 1Q 2020 and S$2.3mil one-off tax exempt distribution in 4Q 2019 from the divestment of Jinshan ◼ Stronger performance recorded in 1Q 2020 as compared to 4Q 2019. ◼ Higher Gross Revenue and NPI of 5.8% and 7.6%, underpinned by: i. higher occupancy level; and ii. commencement of new leases at several properties. (1) For purpose of like-for-like comparisons to exclude one-off distribution items only. 12 (2) Based on 1,088,684,835 units issued and to be issued as at 31 Mar 2020.