Global Logistic Properties : 2Q FY2017 RESULTS - PRESENTATION SLIDES

Half Year and 2nd Quarter FY2017

Results for Period ended September 30, 2016

8 November 2016

1. Highlights

   GLP Soja

   Japan

   1. Highlights

2. Financial Results

3. Outlook

4. Appendix

   2Q FY17 Highlights

   Solid Financial Results

   • 2Q FY17 earnings (PATMI) up 52% to US$173m led by growth of fund management platform

   • Recurring income from fund management and development continues to grow consistently

   • Balance sheet continues to be solid with access to diversified sources of capital

Operations Development Fund Management

• Lease ratio: 92%, up 1% qoq

• Development profit: US$63m

  1

• Fund fees: US$47m2, up 25%

• 1H FY17 Same-property net

  - Met 64% of US$200m

  the full year

  target for

• Key area of growth

  operating income up 7.5%

• Customer retention ratio:

  73%

  • 1H FY17 development margin: 30%

• Disciplined growth and strong capital discipline

  • New developments in China located in markets with average lease ratio of 92%

  • Investment capacity of US$12bn will drive further growth of fund fees

• Fund syndication for 3rd US portfolio oversubscribed

  • On track to close in Dec 2016 with capital partners3

Note:

1. Based on FY17 expected completions of approximately US$800 million (GLP share) and 25% target development profit margin upon stabilization

2. Asset and development fees earned from approximately US$25 billion of invested capital 3

3. Syndication is subject to customary regulatory approvals in investors' respective home countries and the US (as applicable)

Operations
• Group: Solid Leasing Demand

  • Portfolio outperformance underpinned by rising customer demand and favorable market conditions

• China: Improvement in Leasing

  • 87% lease ratio, up 1% qoq

  • Continued rent growth: up 6.3% on renewal leases

  • Retained 68% of customers

Lease Ratio

86%

87%

99% 98%

94% 94%

89% 89%

91%

92%

China Japan US Brazil Group

Group Operating Performance1	2Q FY2017	1Q FY2017	1Q FY17 2Q FY17 1H FY17 Same-property NOI3 Y-o-Y Change 16.7% 7.5% 6.2% 5.8% 1.2% China Japan US Brazil Group
New and Renewal Leases	3.3m sqm	2.5m sqm
Customer Retention	73%	71%
Effective Rent Growth on Renewal2,3
China	6.3%	6.2%
Japan	4.5%	2.1%
US	19.6%	20.7%
Brazil	-9.2%	-11.8%

Note:

1. On GLP total owned and managed basis

2. Effective rents take into consideration rental levelling and subsidies. On a cash basis, rents on renewals increased 7.3% in China, 8.5% in Japan and 8.3% in US, while decreased 7.4% in Brazil 4

3. To enable comparability, effective rent growth on renewal and same-property NOI change exclude impact from VAT implementation