Global Logistic Properties : STATUTORY ANNOUNCEMENT - FURTHER SYNDICATION OF USIP II

14a45bec-ae79-4056-be61-70df3cbf95cc.pdf GLOBAL LOGISTIC PROPERTIES LIMITED

(Registration No. 200715832Z) (Incorporated in Singapore on August 28, 2007)

FURTHER SYNDICATION OF STAKE IN PROPERTIES IN THE UNITED STATES OF AMERICA

Global Logistic Properties Limited (the "Company" and together with its subsidiaries, the "Group") refers to the announcements dated 29 July 2015, 5 November 2015 and 5 April 2016 (the "Announcements") in relation to the acquisition of a portfolio of industrial assets in the United States of America (the "Target Portfolio") and the initial syndication of an interest of approximately 65.66% in the Target Portfolio (the "Initial Syndication").

As stated in the Announcements, the Company intends to ultimately retain an approximate 10% stake in the Target Portfolio after the entire syndication process is completed.

In this regard, the Company wishes to announce that New Western Holdings, LLC, an indirect wholly- owned subsidiary of the Company, has on 24 May 2016 entered into agreements with a new co- investor1 (the "New Co-Investor"), pursuant to which the Company will further syndicate an interest of approximately 9.95% in the Target Portfolio (the "Additional Syndicated Interest") to the New Co-

Investor for an aggregate cash consideration of US$197,000,000, subject to post-closing adjustments (the "Additional Syndication"). The consideration was determined on a willing-buyer, willing-seller basis, taking into account, inter alia, the Company's acquisition cost for the Additional Syndicated Interest.

The Additional Syndication is subject to, inter alia, customary closing conditions that are commercially acceptable to the Company and the New Co-Investor.

As at 31 March 2016, the consolidated book value and net tangible asset value attributable to the Additional Syndicated Interest was US$198,883,000.

The Additional Syndication is in the ordinary course of the Group's business and there will be no substantive changes to any of the existing investor and management agreements entered into pursuant to the Initial Syndication. Affiliates of the Company will continue to manage the Target Portfolio. In view of the foregoing, the Additional Syndication would not fall within the scope of transactions under Chapter 10 of the Singapore Exchange Securities Trading Limited Listing Manual.

The Additional Syndication is not expected to have any material impact on the net tangible asset value and earnings per share of the Company for the financial year ending 31 March 2017.

1 The New Co-Investor is separate from and non-affiliated with the Company and the existing co-investors.

None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the Additional Syndication, save for their respective interest, through their shareholdings and/or directorships, as the case may be, in the Company.

By Order of the Board of

GLOBAL LOGISTIC PROPERTIES LIMITED

Ming Z. Mei

Chief Executive Officer 24 May 2016