Global Logistic Properties : 1Q FY2015 RESULTS – NEWS RELEASE

 Group development starts up 127% year-on-year to US$883 million, driven by

 GLP establishes strategic partnership with CMSTD, China's largest state-owned warehouse logistics provider

 New and expansion leases in China up 170% year-on-year to 535,000 sqm

 Strong balance sheet to fund growth opportunities: 6.0% net debt to assets

 Fund management platform set to grow further; 1QFY15 fund fees up 72%

revaluations rose 27%1 year-on-year, underpinned by a 47% increase in China.

1 Re-stated following the adoption of FRS 110 Consolidated Financial Statements

2 Pro-forma figures adjusted for the investment of 24.4% in GLP China by the investor consortium, sale of assets to J-REIT and

FX-related effects (includes FX translation effects, FX gains/losses and fair value changes in financial derivatives)

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Subsequent to quarter-end, GLP established a strategic partnership with China Materials Storage and Transportation Development Company ("CMSTD"), China's largest state-owned warehouse logistics provider. The transaction involves the creation of a joint venture to be the exclusive developer of modern logistics facilities for CMSTD in China and GLP's acquisition of a 15.3% stake in CMSTD to become its second largest shareholder. GLP expects to drive value creation from CMSTD's land resources which total more than 9 million sqm (100 million sq ft). For more information on the CMSTD transaction, please refer to the news release on
this subject published on 4 August 2014, available on GLP's website (www.glprop.com).
1QFY15 Group revenue grew 18% year-on-year on the back of higher rents and continued lease-up of development projects in China. Japan revenue was up 9%, driven by sustained growth in our fund management platform. Group PATMI and Group PATMI excluding revaluations were 12% and 5% lower respectively, mainly due to foreign exchange gains in
1QFY14 and dilution from the introduction of the China investor consortium's 24.4% stake in GLP China in 1Q FY15. Adjusting for these items and the sale of assets to GLP J-REIT, Group PATMI and Group PATMI excluding revaluations increased 8% and 27% respectively.
The first tranche of GLP's landmark China consortium agreement was completed on 6 June. The second tranche of up to a 9.6% stake is expected to be completed by December 2014.
Mr. Jeffrey H. Schwartz, Co-Founder of GLP and Chairman of the Executive Committee said: "GLP made a strong start to FY15. We ramped up development activity, initiating a record US$883 million of new projects across China, Japan and Brazil. Leasing momentum across the Group was strong, with new and expansion leases up 64% year-on-year. Our high lease

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ratios and sustained rental growth underscore the significant demand we see in all of our markets. Our financial position remains exceptionally strong, positioning us well to capitalize on the significant growth opportunities we see in front of us."

Significant Operational Momentum

During the quarter, GLP started a record US$643 million of new development projects in
China. This represents 39% of the Company's FY15 target.
Leasing in China remains strong, with 535,000 sqm (5.8 million sq ft) of new and expansion leases signed in 1QFY15, 170% higher than the previous year. The continuing growth of domestic consumption in China remains a key driver of demand for GLP's facilities, with major leases recently signed with industry leaders like Deppon, Walmart, JD.com, BMW and Best Logistics. E-commerce customers represent 25% of GLP's leased area in China. The stabilized logistics portfolio lease ratio in China remained stable at 90%, with China same- property net operating income up 6.4%. During the quarter, rents increased 6.2% on renewal leases in China.
The China investor consortium has strengthened GLP's land sourcing capabilities. 700,000 sqm (7.5 million sq ft) of buildable land area was acquired in 1QFY15, up 22% year-on-year. Development completions are expected to pick up significantly in the back half of FY15 and GLP remains confident of meeting its target of 2.4 million sqm (26 million sq ft) of development completions for the full year.
There continues to be significant demand for GLP's modern logistics facilities in Japan.

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Leasing is ahead of schedule, with three development projects fully pre-leased - GLP Ayase, GLP Kobe-Nishi and GLP Yoshimi. GLP's completed and stabilized portfolio lease ratio in Japan remains high at 99%, while rents increased slightly to JPY 1,091/sqm/month. Assets owned and managed in Japan grew 14% year-on-year to 4.6 million sqm (50 million sq ft).
GLP accelerated development activity in Brazil in 1QFY15, commencing US$186 million of new development projects or 48% of its full year target. The Company strengthened its market-leading position with the acquisition of a US$1.1 billion logistics portfolio from BR Properties in June 2014. Following this high-quality acquisition, GLP's completed portfolio in Brazil grew to 2.4 million sqm (26 million sq ft) or approximately four times larger than its next closest competitor. GLP's lease ratio and average portfolio rent in Brazil increased to 97% and BRL19.1/sqm/month respectively.
Mr. Ming Z. Mei, Co-Founder and Chief Executive Officer of GLP, said: "GLP continued to make substantial operational progress in 1QFY15, driven by strong customer demand and growth in our best-in-class fund management platform. We also closed on a number of very significant initiatives which position us well for further growth. The opportunities remain compelling in all of our markets, thanks to robust domestic consumption, the growth of e- commerce and undersupply of modern logistics facilities. We look forward to strengthening our leading positions in China, Japan and Brazil as we continue to create value for our shareholders."

Growing Fund Management Platform

Fund management revenue in 1QFY15 increased 72% year-on-year to US$22 million, driven

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by continued growth in GLP's fund management platform. This comprised development and acquisition fees of US$13 million and asset and property management fees of US$9 million. As of 30 June 2014, total assets under management stood at US$11.4 billion. Of this, US$7.4 billion has been invested, with a further US$4.0 billion of uncalled capital. Given the attractive growth opportunities and significant demand from institutional investors, GLP intends to further expand its fund management platform in FY15.

Healthy Capital Base

GLP's financial position remains strong, with net debt of US$876 million and net debt to assets of 6.0% (13% on a look through basis). With a strong balance sheet in place, GLP is well-positioned to capitalize on growth opportunities and selectively expand its footprint.

Earnings Call/Webcast Information

A briefing for investors and analysts is scheduled on Tuesday, 5 August 2014 at 9:00am
Singapore time. Please dial +65 67239381 to join the briefing (passcode: 68481221) or visit our website (ir.glprop.com) to access our webcast for the event. A replay of the briefing will
also be available on our website.

Global Logistic Properties Limited ("GLP") is the leading provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 27 million square meters (290 million square feet) is strategically located across 76 cities, forming an efficient logistics network serving almost 800 customers. We are dedicated to improving supply chain infrastructure for the world's most dynamic manufacturers, retailers and third party logistics companies.

Domestic consumption is a key driver of demand for GLP.

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The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited

(SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).

GLP Investor Relations & Media Contact: Ambika Goel, CFA

SVP- Capital Markets and Investor Relations

Tel: +65 6643 6372

Email: agoel@glprop.com

This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries. Please refer to our unaudited financial statements for a complete report of our financial performance and position. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," "intends," "foresees," "estimates," "projects," and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements. 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 these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, 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 the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur,

that projections will be achieved, or that GLP's assumptions are correct.

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