Global Logistic Properties : NEWS RELEASE - GLP CONTINUES CAPITAL RECYCLING STRATEGY WITH FURTHER ASSET SALES TO GLP J-REIT

• GLP to sell four Japan properties to GLP J-REIT for JPY42.7bn (US$420m)
• Transaction expected to be completed in September 2016
• GLP to realize cash profit of US$130 million from Japan asset sales YTD

This transaction3 follows the sale of GLP's 50% share of GLP・MFLP Ichikawa Shiohama to GLP J-REIT announced in June 2016. GLP expects to realize US$130 million of cash profit from these dispositions upon completion in September 2016. This includes the crystallization of US$100 million of development profit (GLP share, pre-tax) from three development projects - GLP Atsugi II, GLP Yoshimi and GLP・MFLP Ichikawa Shiohama - which are 100% leased and generated a development profit margin of 44%.

1 Unless stated, all exchange rates are reported as 1 USD = JPY 101.66, the closing exchange rate as of 2 August 2016

2 Appraisals commissioned by GLP and performed on the basis of desktop valuations. The book value and appraisal value of the assets as of 30 June 2016 was JPY 41.5 billion (US$408 million)

3 This transaction falls under the category of "non-discloseable transactions" for the purpose of Chapter 10 of the

SGX-ST Listing Manual

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Mr. Ming Z. Mei, Chief Executive Officer of GLP, said: "This transaction demonstrates how GLP is able to leverage its fund management platform to unlock value and generate the best possible returns. Looking ahead, we will continue our capital recycling strategy to achieve dual aims of crystallizing development profit and growing fund management AUM to generate higher recurring income from management fees."

The dispositions of these five assets generated a net levered property IRR of 27% (before fees and promotes). Net sale proceeds for GLP are estimated to be approximately JPY26 billion (US$254 million), which GLP plans to reinvest into development in Japan.

China and Japan represent the most attractive markets for development. GLP will deploy the majority of its capital to these two markets while focusing on being the best operator. GLP's US$37 billion fund management platform provides a recurring source of income that is growing consistently every year. It is also one of GLP's main sources of capital to fund growth. GLP will continue exercising strong financial discipline including leveraging the fund management platform for strategic expansion.

GLP J-REIT, listed on the Tokyo Stock Exchange in December 2012, is a real estate investment trust focused on operating logistics properties in Japan. GLP is the property and asset manager of the J-REIT. GLP J-REIT has the right of first look on a further 17 properties (US$2.0 billion) wholly owned by GLP.

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APPENDIX

GLP is a fund manager, developer and owner-operator of modern logistics facilities. As of 30 June 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$37 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

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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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