LaSalle LOGIPORT REIT : Financial Results for the 11th Fiscal Period (“FP”) Ended August 31, 2021

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Increased earnings and dividends for the 11th fiscal period (ended Aug. 2021), mainly due to revenue contribution and excess earnings from LOGIPORT Osaka Bay acquisition

Abundant sponsor pipeline of c. JPY 150Bn, and secured additional value-add investment opportunity for development project with a third-party partner

Maintained high portfolio occupancy, by achieving 100% occupancy rate at LOGIPORT Osaka Bay. Upward rental revisions continue, with an exception of one renewal case

5-Star rating achieved for the 2021 GRESB Real Estate Assessment

DPU TRANSITION

NOI increased due to reduced expenses

• Gain on redemption of preferred equity shares above expectation (6 yen)
• Reduction in electricity costs due to change in electricity supplier (8 yen)
• Reduction in leasing costs and repairs/maintenance costs (12 yen)
• Lower than estimated property tax (9 yen)
• Reduction of expenses due to lower depreciation expense and unused contingency (16 yen)

Adjustment of one-time gains and increased profitability through acceleration of internal growth

• Decrease for the one-time gain on redemption of preferred equity

shares (-297 yen)

• NOI contribution for the full fiscal period for LOGIPORT Osaka Bay, achievement of 100% occupancy (185 yen)
• NOI increase due to internal growth (30 yen)

Revenue from hazardous material warehouse, rent revision uplift in existing assets (including Japanese standard leases), lease-up of office and parking spaces, etc.

• Leasing fees and repair/maintenance costs (-44 yen)

• Decrease in one-time corporate costs related to PO and other corporate costs (23 yen)

LOGIPORT Osaka Bay property tax expensed

• Full fiscal period revenue contribution of existing tenant expansion at LOGIPORT Osaka Bay and LOGIPORT Amagasaki's hazardous materials warehouse (26 yen)
• Reduction in leasing costs (5 yen)

• LOGIPORT Osaka Bay property tax expensed
  (-59 yen)
• Increase in depreciation expense from strategic CapEx (-7 yen)

Portfolio Strategy

Sustainable growth in unitholder value

External growth backed by an

abundant pipeline

Investments in logistics suited

locations outside of

Tokyo and Osaka areas

Consider asset replacements,

subject to capital market conditions

Asset Strategy

Enhancement of portfolio profitability

Capture robust tenant demand and

maintain high occupancy rates

Reduce rent gaps

Capital investments for profitability enhancement

Excess Returns Strategy

Earn excess returns and

increase acquisition pipeline

Commence development work of Osaka Suminoe Logistics Center for value-up

Strengthen sourcing activities to

capture value-add

investment opportunities

Collaboration with external business

partners and expand new investment opportunities