Global Logistic Properties : NEWS RELEASE - GLP CHINA TO ISSUE RMB1.5 BILLION (US$224 MILLION) OF PANDA BONDS

15c73f50-d31a-4ddf-af7e-f1d2997026b4.pdf For Immediate Release GLP CHINA TO ISSUE RMB1.5 BILLION (US$224 MILLION) OF PANDA BONDS

• GLP China to issue RMB1.5 billion (US$224 million) of RMB-denominated bonds ("panda bonds") on Shanghai Stock Exchange
• GLP is the first global logistics real estate company to issue panda bonds
• The bonds were more than 3 times oversubscribed
• Issuance in line with GLP's policy of using natural hedge to optimize capital structure

Shanghai, 11 July 2016 - GLP, the leading global provider of modern logistics facilities, will issue RMB1.5 billion (US$224 million1,2) of RMB-denominated bonds ("panda bonds") on the Shanghai Stock Exchange ("SSE")3. The issuance comprises three-year tenor bonds priced at 3.12% per annum and five-year tenor bonds priced at 3.58% per annum. Proceeds will be used for the repayment of existing debt and to fund business growth in China.

Teresa Zhuge, Co-President of GLP China, said: "We are very pleased to be the first global logistics real estate company to issue panda bonds. The offering was more than 3 times oversubscribed on the back of strong support from institutional investors. The issuance increases GLP's financial flexibility and optimizes its capital structure. We will continue with

1 Unless stated, all exchange rates are reported as 1 USD = 6.69 RMB, the closing rate as of 8 July 2016

2 The size of the issuance is below 5% of the audited consolidated net tangible assets of GLP as at 31 March 2016

3 The issuer of the panda bonds is Iowa China Offshore Holdings (Hong Kong) Limited ("GLP China"), GLP's

China holding company

http://www.glprop.com

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our natural hedge policy and implement financial strategies to broaden financing channels while pursuing growth opportunities."

GLP China has been given a long-term credit rating of AAA4, the highest possible rating in China. The company has obtained regulatory approval to issue up to RMB10 billion (US$1.5 billion) of panda bonds on the SSE and plans to issue the panda bonds in multiple tranches (this issuance being the first tranche), depending on the company's financing needs and pricing conditions. GLP China is also waiting for regulatory approval to issue up to RMB10 billion (US$1.5 billion) of over-the-counter bonds in China's interbank market, which will similarly be issued in tranches.

About GLP (www.glprop.com)

GLP is a fund manager, developer and owner-operator of modern logistics facilities. As of 31 March 2016, GLP owns and operates a global portfolio of 52 million square meters (560 million square feet) that caters primarily to domestic consumption. GLP's 4,000 customers include some of the world's most dynamic manufacturers, retailers and third party logistics companies. GLP's US$35 billion fund management platform is a key area of growth going forward.

GLP 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

4 Credit rating issued by Shanghai Brilliance Credit Rating & Investors Service Co., Ltd.

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