Bank of America Merrill Lynch 2014 Global Real Estate Conference New York September 10 – 11, 2014

GLP Lingang China

01.

Recent Events

01. Recent Events 02. Company Overview 03. Market Overview 04. Platform 05. Appendix

GLP Imigrantes Brazil

GLP Park Tosu Japan

GLP Park Hunan China

Powering Ahead into the Future 





Strategic Partnership with CMSTD, China’s Largest StateOwned Warehouse Logistics Provider  Cooperation on over 9 million sqm of land resources  Development joint venture- CMSTD’s exclusive vehicle for logistics development projects in China  Strategic equity investment- GLP will invest RMB 2 billion (US$324 million) to acquire a 15.3% stake in CMSTD’s listed shares GLP to Sell US$529 million of Assets to GLP J-REIT  Recycle capital to accelerate developments in China, Japan and Brazil  Fund management platform grows to US$11.9 billion 1Q FY15: Strong Growth in Development Starts & Sustained Leasing Momentum  Group development starts up 127% yoy to US$883 million  China: Achieved 39% of FY2015 target  Brazil – Achieved 48% of FY2015 target  Group new and expansion leases up 64% yoy to 570,000 sqm

LEADER IN THE WORLD’S THREE BEST MARKETS

OUTSTANDING GROWTH OPPORTUNITIES

ON-GOING DEVELOPMENT MOMENTUM

FINANCIAL STABILITY AND FLEXIBILITY

3

GLP Forms Strategic Partnership with China Materials Storage and Transportation Development Company  CMSTD (SH:600787) is China’s largest state-owned warehouse logistics provider  GLP to drive value creation from CMSTD’s land resources in excess of 9 million sqm  Transaction boosts GLP’s development pace in China and enhances its “Network Effect”  Established strategic partnership with the support of the Chinese investor consortium  GLP and CMSTD to form 49:51 JV to develop modern logistics facilities in China; GLP has the option to increase ownership to 50%

Development Joint Venture

 The JV will invest over RMB 3.6 billion (US$583 million) to acquire an initial pipeline of 2.7 million sqm of land (1.3 million buildable area)  JV will have right of first look on all future logistics land sourced by CMSTD and the priority right to partner with CMSTD to develop its existing land and facilities

Strategic Equity Investment via Private Share Placement

 GLP will invest RMB 2 billion (US$324 million) to acquire a 15.3% stake in CMSTD; acquisition price represents a 10% discount to last close  Following the transaction, GLP will be the second largest shareholder of CMSTD  A significant part of CMSTD’s existing portfolio (4.9 million sqm of land area) includes legacy assets in prime locations which could potentially be re-zoned

 Part of the proceeds will be used to acquire 0.9 million sqm of land (0.5 million sqm buildable area) 4

1Q FY2015 Key Business Highlights STRONG STRONG CORE CORE PORTFOLIO PORTFOLIO

• • • •

Market-leading positions in China, Japan and Brazil 704 properties with total 15.9 million sqm of completed area High lease ratios of 90%, 99% & 97% for China, Japan and Brazil respectively Acquisition of US$1.1 billion BR Properties added depth to portfolio

SUSTAINABLE DEVELOPMENT GROWTH

• 1Q FY2015 Group development starts reached a new high of US$883 million • China achieved US$643 million: 39% of FY2015 target, up 102% yoy • Development pipeline supported by 12.8 million sqm of land reserves

BEST-IN-CLASS FUND MANAGEMENT PLATFORM

• US$11.4 billion of assets under management, up from US$8.1 billion yoy • US$22 million fund fees, +72% yoy • Future growth expected from US$4.0 billion uncalled capital, BR Properties portfolio and future

STRONG BALANCE SHEET, LOW LEVERAGE

sales to GLP J-REIT

• Weighted average debt maturity of 4.7 years • Low net debt to assets of 6.0% (Look through: 13.0%) • Strong cash position of US$2.3 billion 5

Key Financial Highlights GROUP PATMI ex-revaluation (US$ million) 64

61

1

Proforma Adj 48

1Q FY2014

1Q FY2015

1Q FY2015 1Q FY2014

Change

1Q FY2014 Proforma

Change (vs 1Q FY2014 Proforma)

Revenue

169

143

18%

143

19%

EBIT

273

258

6%

246

11%

EBIT ex revaluation

113

97

17%

97

17%

PATMI

179

204

-12%

166

8%

61

64

-5%

48

27%

PATMI ex revaluation

Note: 1. Comparatives are restated following the adoption of FRS 110 consolidated financial statements. 2. Pro-forma figures adjusted for the investment of 24.4% in GLP China by the investor consortium, sale of assets to J-REIT and FX-related effects (includes FX translation effects, FX gains/losses and fair value changes in financial derivatives

6

GLP Guarulhos Brazil

02.

Company Overview

01. Recent Events 02. Company Overview 03. Market Overview 04. Platform 05. Appendix

GLP Park AGV Brazil

GLP Park Amagasaki Japan

GLP Liantang China

About Global Logistic Properties 

GLP is the leading provider of modern logistics facilities in China, Japan and Brazil



Our US$19.6 billion property portfolio comprises 26.9 million sqm (290 million sq ft) and forms an efficient logistics network serving more than 750 customers. Domestic consumption is a key driver of demand for GLP



GLP is a SGX-listed company with a market capitalization of S$13.51 billion; GIC is the largest single investor in GLP

GLP Park Suzhou China

Note: (1) As of 1 August 2014

GLP Park Tokyo Japan

NAV breakdown

China 51%

Japan 22%

Brazil 13% Others 14%

GLP Park Colgate & Elog Brazil

8

Leading Provider of Modern Logistics Facilities in the Best Markets GLP’s Global Footprint China 

Presence in 34 cities

 

19.4mm sqm total area 9.6mm sqm completed

 

9.9mm sqm development pipeline 12.8mm sqm land reserves

Brazil 

87% in São Paulo and Rio de Janeiro

 

3.0mm sqm total area 2.3mm sqm completed



0.7mm sqm development pipeline

Japan 

84% in Tokyo and Osaka

 

4.6mm sqm total area 3.9mm sqm completed



0.6mm sqm development pipeline

9

Unrivalled Network in China, Japan and Brazil  With the largest network of modern logistics facilities in China, Japan and Brazil, GLP is wellpositioned to leverage the ‘Network Effect’ to serve our customers where they need to be China

Japan

(mm sqm)

Brazil

(mm sqm)

(mm sqm)

GLP Stake: 90-95%

GLP Stake: 53.1%

GLP Stake: 19.9%

7.6

3.9

2.6

0.3

0.3

0.3

Sanca

0.4

BR Properties

0.4

MRV Log

GB Amazens

Hines

0.4

Marabraz

0.6

0.5

GLP

0.5

SG Realty

0.5

Orix

0.7

Mapletree

0.7

Mitsubishi

0.8

Nomura RE

JLF

0.1

Daiwa House

0.2

Prologis

0.4

GLP

0.4

Vailog

ACL

Prologis

Mapletree

Goodman

Blogis

GLP

0.4

Beijing Properties

0.7

LIM

1 0.8

Yupei

1.0

e-Shang

1.1

Prologis

2.3

2.2

Based on completed area for modern logistics facilities as of June 30, 2014 Source: Company websites, various news sources and CBRE estimates

10

Proven Track Record of Delivering Growth GLP Completed Area (mm sqm) 15.8

Portfolio Growth of GLP

14.8

FY04 – 1Q15 CAGR: 53%

1.4 11.8 12.2 10.0 1.0

2.3

1.3

10.0 0.5

6.8 3.8 5.4 2.3 3.8 0.6

0.2 0.20.6

0.2

FY04 FY04

0.5

0.5 FY05 FY05

1.3 1.3 0.1 1.0

2.3 0.3

1.0

1.6

FY06

FY06

FY07

1.4 2.6

1.4 0.8

2.4

1.6

2.8

2.4

FY07 FY08

FY08 FY09 Japan

2002-2004 Key Milestones





2005-2007

GLP founding partners  Jeff Schwartz and Ming Mei established presence in China and Japan  Presence in five key markets in China and Japan – Suzhou,  Shanghai, Guangzhou, Tokyo and Nagoya

Expanded into Osaka, Sendai and Fukuoka markets in Japan Named best developer in China by Euromoney for the first time

China

6.4 4.0

2.6 3.2

3.2 4.0

2.8 2.8

2.8 2.8

2.8 3.6

FY09 FY10

FY10 FY11

FY11 FY12

7.6

9.5

6.4

3.6

6.9

9.6

3.6 3.9

3.6

FY12 FY13

3.9

PF 2QFY13 FY14 1QFY15

Brazil

2008–2010

Established network in 18  major logistics hubs in China

6.0 6.8

5.4 6.0

Selected as the exclusive distribution center provider for the Beijing 2008 Olympic Games



Japan AUM exceeds JPY 500 billion (US$5.3 billion)



Listed on the Main Board of Singapore Stock Exchange on 18 Oct 2010 in the largest real estate IPO ever globally

FY11–FY14

FY15



Listed GLP J-REIT, Japan’s largest real estate IPO



Completed the first tranche of China consortium agreement



Launched CLF Fund I, world’s largest China-focused real estate fund



Completed acquisition of US$1.1 billion portfolio from BR Properties



Signed a landmark agreement with  Chinese SOEs and leading financial institutions investing up to US$2.5 billion

Formed strategic partnership with China Materials Storage and Transportation Development Company (CMSTD)

11

Growing Fund Management Platform 

Six property funds with total AUM of US$11.9bn when fully leveraged and invested



1Q FY2015 fund management revenue increased 72% yoy to US$22 million  Comprising asset & property management fees of US$9 million and development & acquisition fees of US$13 million  Further growth expected from US$4.0 billion of uncalled capital, BR Properties portfolio and future sales to GLP J-REIT Fund Management Platform

Assets Under Management (US$bn) $11.9

Vintage

Sep 2011

Dec 2011

Nov 2012

Nov 2012

Dec 2012

Nov 2013

GLP Japan Development Venture

GLP Japan Income Partners I

GLP Brazil Income Partners I

GLP Brazil Development Partners I

GLP J-REIT

CLF Fund I

Assets under Management1

US$1.9bn

US$1.1bn

US$1.2bn

US$1.2bn

US$3.5bn

US$3.0bn

Investment ToDate

US$0.8bn

US$1.1bn

US$1.1bn

US$700m

US$3.5bn

US$700m

CPPIB & GIC

Public

Various

Fund Name

3.5

CPPIB

CIC & CBRE

CIC, CPPIB & GIC

Total Equity Commitment

US$1.0bn

US$500m

US$600m

US$900m

US$1.6bn

US$1.5bn

GLP CoInvestment

50.0%

33.3%

34.2%

40.0%

15.0%

55.9%

Investment Mandate

Opportunistic

Value-add

Value-add

Opportunistic

Core

Opportunistic

1.9

1.1

1.1

1.1

1.1

1.9

1.9

1.9

1.9

Japan Japan Brazil JVs J-REIT CLF Fund Devt Income I Venture Partners I

AUM based on cost for in-progress developments (does not factor in potential value creation) and latest appraised values for completed assets Fund management revenue reflects 100% of fees charged and is recognized primarily via two line items: “management fee income” under revenue and “share of fund management fees payable to GLP” under non-controlling interests.

4.0

Uncalled Capital

7.9

Invested Capital

3.5

2.4

Joint Venture Partners

1) 2)

3.0

Total AUM

12

Low Leverage and Significant Cash on Hand 　

Group Financial Position

(US$ million)

As at Jun 30, 2014

As at Mar 31, 2014

Change %

Total assets

16,875

14,341

17.7

Total equity

12,017

10,123

18.7

Cash

2,346

1,501

56.3

Total loans and borrowings

3,222

2,661

21.1

876

1,161

(24.5)

3.5%

3.0%

0.5

Net debt Weighted average interest cost

Leverage Ratios as of June 30, 2014

Debt Ratios for the period ended June 30, 2014 • EBITDA: US$109.4m • Interest: US$20.3m

19.1%

5.4x 6.0%

Total Debt to Assets

Net Debt to Assets

Note: 1. Comparatives are restated following the adoption of FRS 110 consolidated financial statements.

2.0x Net Debt / EBITDA

EBITDA / Interest

13

Unique Investment Proposition with a Focus on the Best Markets







China & Brazil domestic consumption growth

Limited supply of modern facilities in China, Japan & Brazil



Attractive Markets

Outsourcing & e-commerce trends in Japan

Powerful Platform

  

Unrivalled network in China, Japan & Brazil

Vast China land bank

Robust Strategy

Strong capital structure

Experienced team



Customer demand driven expansion



Strong development capabilities with leading land positions



Growing fund management platform 14

GLP Soja Japan

03.

Market Overview

01. Recent Events 02. Company Overview 03. Market Overview 04. Platform 05. Appendix

GLP Guarulhos Brazil

GLP Tokyo II Japan

GLP Park Xi’an Hi-Tech China

Over 75% of China Warehouses Do Not Meet Modern Logistics Requirements & Face Demolition Amid Urbanization Current Supply of Logistics Facilities in the US is ~12 times that of China

Limited Supply of Modern Logistics Facilities in China Interior

Warehouse stock: total area (sqm) per capita 6.00

Modern

5.06

5.00

4.00 12x

3.00

Exterior

2.00 1.00

0.41

Source: China Association of Warehouses and Storage; CB Richard Ellis estimates; CIA The World Factbook

Middle

US

Modern Logistics Facilities1 Account for 1520% of Total Supply; Market is Fragmented

enhanced safety systems and other value-added features

factories

> Insufficient clear height and lack of loading docks

> Lack of office space > Poorly constructed Low-end

550.0

(million sqm)

> Wide column spacing > Large floor plates > High ceilings > Modern loading docks,

> Some converted from

0.00 China

Characteristics

> Restricted vehicle accessibility

100.0 13.0 Major Providers2

Modern Logistics Facilities1

Total Market Supply of Logistics Facilities

Notes: 1. Includes facilities provided by major international and national developers, small and midsize developers, state-owned enterprises, and facilities for owned for self-use 2. From JLL report covering 11 cities

16

Domestic Consumption Driving Logistics Needs 

Retail sales have grown by CAGR of 17.4% in past 7 years1

Breakdown of Leased Area in China (June 2014) Import/ export related 19%

 China retail sales grew 12.4% in June 20141 and are forecast to grow by 12.5% in 20142



Urbanization trends boosting consumption

Domestic consumption related 81%

 Urbanization ratio reached 51% in 2011 and is expected to continue rising to 70% by 2030

 More than 10m people migrate to urban areas annually1



Increasing household income per capita triggering wave of consumption growth

 Coastal area income per capita reached inflexion point of USD5,000, triggering consumption of automobiles and other durable goods



Government focused on making domestic consumption the growth engine of the economy

 The 12th Five-year plan (2011-2015) to increase reliance on domestic growth Notes: 1. National Statistics Bureau of China 2. July 2014 issue of Consensus Forecast

Largest 10 Customers in China (June 2014) Rank 1 2 3 4 5 6 7 8 9 10

Name Deppon Amazon* Vipshop* Best Logistics Nice Talent JD.com (360buy)* Schenker DHL Alibaba* Toll Warehouse Total

Industry 3PL Retailer Retailer 3PL 3PL Retailer 3PL 3PL Retailer 3PL

% leased area 4.1% 4.0% 2.8% 2.8% 2.7% 1.6% 1.5% 1.5% 1.4% 1.4% 23.8%

* E-Commerce related customers

17

Capitalizing on China’s Fast Evolving Retail Landscape Chain Store Sales as % of Total Retail

Online Retail Sales in China RMB Bn

70%

65%

50%

5,000

Huge room to grow

40%

3,000

20%

2,000

10%

3,780 2,760 1,850 1,300

1,000

5%

26

56

128

263

498

774

0

0%

India

China

US

Source：Strong and Steady, 2011 Asia ‘s Retail and Consumption Outlook by PWC



4,772

11-year CAGR: 63%

4,000

30%

10%

5,634

6,000

60%

2006 2007 2008 2009 2010 2011 2012 2013 '14E '15E '16E '17E Source: iResearch Consulting Group; Ministry of Commerce

GLP’s modern logistic facilities support the rapid growth of chain stores in China

 Accelerating store opening of major chain stores in China; Watsons plans to increase number of stores in China from over 1,600 at the end of 2013 to 3,000 by 2016

 China’s retail chain market has significant room to grow compared to the U.S. 

E-commerce is a fast growing industry for GLP

 Online retail sales have increased roughly 70-fold since 2006 (7-year CAGR of 84%) and are expected to further triple over the next four years to RMB5.6 trillion (US$910 billion)

 Online retail volume accounted for 7.9% of the total retail sales in 20131 Notes: 1. iResearch Consulting Group

18

Limited Supply of Modern Logistics Facilities in Japan Modern Logistics Facilities in Japan are Scarce¹

Various Features of Modern Logistics Facilities

Modern Logistic Facilities 2.8%

Others 97.2%

Large Floor Area

High Ceilings

High Load Tolerance

10,000 sqm or more

5.5 m or more

1.5 t/sqm or more

Wide Column Spacing

Wide Truck Yard

Elevated Berths

Dock Leveler

Ramp Ways

Elevator with Large Capacity

Source: Source: JLL CBRE

Existing Facilities Not Built to Modern Standards Existing Logistics Facilities

  

Owned by users

Modern Logistics Facilities



Leased spaces, largely to 3PL operators

 

Large-sized modern facilities

Small-sized and old facilities Fragmented market Notes: 1. Represents facilities with Area ≥ 10,000 sqm

Few players of scale

19

Growth of Outsourcing & E-Commerce Trends Drives Demand for Modern Logistics Facilities in Japan Growth of Japanese Third Party Logistics (“3PL”) Market

Market Size of B to C E-Commerce in Japan

(JPY billion)

(JPY billion)

2000

12000

1,883

11,166

1,784

1800

9,513

10000

1600

1,461 1,306

1400

1,275

8,459

1,272

7,788

8000

1,124

1200

6,696 6,089

1,001 1000

6000

5,344 4,391

800 4000

600 400

3,456

2000

200 0

0 FY2006

FY2007

FY2008

FY2009

FY2010

FY2011

FY2012

FY2013

FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014

Source: Logi-Biz (Logistics Business, Sep. 2013 issue)

Source: Ministry of Economy, Trade and Industry “e-Commerce Market Survey”





Strong demand from 3PL companies for GLP’s modern logistic facilities

 3PL companies benefit from the increasing trend of companies outsourcing their logistics in order to reduce costs and focus on their core business

 3PL market has grown by 78% in 6 years

Fast growing e-commerce market represent new growth industry for GLP

 Internet/mail order service has grown by 223% in 8 years

 E-commerce sales have reached ~JPY 10 trillion and are expected to double over the next 5 years 20

Brazil: Severe Shortage of Modern Logistics Facilities Creates Significant Opportunities Logistics Space Per Capita is 1/15th of the US

Key Growth Drivers  Robust domestic consumption drive demand for modern logistics facilities

(sqm per capita)

5.06

 92% of GLP’s Brazil portfolio leased to domestic consumption related customers  While economic growth has slowed, long-term prospects remain attractive

15x

 Outsourcing trend: Companies shifting from owning warehouses to leasing amid continued efforts to improve supply chain efficiency

0.33 United States

Brazil

Modern Logistics Facilities Account for ~20% of Supply

Retail Sales Growth (%) Average: 7% 10.6%

9.5%

10.2%

7.1%

6.3%

5.4%

4.6%

4.3%

Brazil: 64mm sqm

6.9% 5.0%

20%

2005

2006

2007

2008

2009

2010

2011

2012

2013

YTD May2014

Modern Logistics Facilities: ~13mm sqm Source: CBRE

21

GLP Park Beijing Capital Airport China

04.

Platform

01. Recent Events 02. Company Overview 03. Market Overview 04. Platform 05. Appendix

GLP Park Jiangxia China

GLP Soja Japan

GLP Park Jiashan China

China Business Highlights for 1Q FY2015 Strong Leasing and Development Momentum 

Record development starts of US$643 million, up 102% yoy



New and expansion leases of 535,000 sqm, up 170% yoy



−

Major leases signed with industry leaders Deppon, Walmart, JD.com, BMW & Best Logistics

−

Large leasing pipeline continues to expand

Enhanced access to strategic land holdings: Land acquisition up 22% to 700,000 sqm

− 

Further growth driven by 12.8 million sqm of land reserves

Development completions: Remain confident of meeting FY2015 target (US$1.1 billion, 2.4 million sqm)

Composition of New & Expansion Leases

New & Expansion Leases (‘000 sqm)

Development Starts (‘000 sqm) 1,361

Pharma & Medical Instruments, 4%

Retail/Fast Food Chain, 22%

Others, 11%

Auto & Parts, 11%

733 535

Electronics / High-tech, 10%

Machinery, 1%

198

General Logistics Services, 23%

FMCG, 18%

1QFY14

1QFY15

1QFY14

1QFY15

23

China Portfolio Robust NAV Growth Portfolio Snapshot

China Portfolio

Jun 30, 2014

Mar 31, 2014

 Asset values increasing with cap rates down 14bps to 6.9%, with further compression expected

Total valuation

US$8,641 million

US$8,224 million

2.7 years

2.8 years

 12.8 million sqm of land reserves, providing a strong pipeline for future developments

Lease ratios

90%

91%

No. of completed properties

537

526

 Same-property NOI up 6.4% yoy

Completed properties (sqm mil)

9.6

9.5

 Country NAV growth of 10% yoy

Country NAV

US$4,650 million

US$4,601 million

WALE

 Rents on renewal up 6.2% yoy

Lease ratios (%) and Rental (RMB/sqm/day)

China Portfolio (sqm mil) 18.7

90%

90%

91%

90%

100% 15.6

1.10

80%

1.00

17.0

16.0

5.7

1.03

1.07

1.11

1.12

0.80

4.1

4.4

3.6

3.4

7.9

8.2

8.7

9.5

9.6

1Q FY14

2Q FY14

3Q FY14

4Q FY14

1Q FY15

3.6

3.6

4.9

40% 20%

0.70

4.9

4.7

60%

0.90

19.4

0% FY2012

FY2013

FY2014

1Q FY15

Completed properties

Note: 1. Country NAV refers to GLP share of the consolidated net asset value of the entities.

Properties under development or being repositioned Land held for future development

24

Japan Business Highlights for 1Q FY2015 Sustained Leasing Momentum 

Leasing Ahead of Schedule

 Three development projects fully pre-leased – GLP Ayase, GLP Kobe-Nishi and GLP Yoshimi  Strong pipeline of leasing demand for other projects under development 

Rising Asset Values  Average cap rate now at 5.1%, down 11bps



Accelerating Growth to Meet Demand  Continued progress in GLP Japan Development Venture: 82% of equity invested or allocated  Remain confident of meeting FY2015 development starts target (US$675 million)

1Q FY2015 Development Starts Property Name

GLP Kobe-Nishi

City

Greater Osaka

Site Area (sqm)

21,000

Leasable Area (sqm)

36,000

Ownership % Estimated Completion Date

50% 4Q FY15 25

Japan Portfolio Stable Portfolio Portfolio Snapshot

Japan Portfolio

Jun 30, 2014

Mar 31, 2014

 84% of completed area located in Tokyo and Osaka

Total Valuation

US$7,978 million

US$7,659 million

 Improving rents with high retention rate of 80%

WALE

5.0 years

5.1 years

99%

99%

No. of completed properties

87

85

Completed properties (sqm mil)

3.9

3.9

US$2,054 million

US$2,052 million

Lease ratios

 Long WALE of 5.0 years

Country NAV

Lease ratios (%) and Rental (JPY/sqm/mth) 99%

99%

99%

Japan Portfolio (sqm mil) 4.0

99%

4.5 0.04 0.5

4.6

1.5

1.6

1.6

2.3

2.3

2.3

3Q FY14

4Q FY14

1Q FY15

4.2

4.3

0.5

100%

0.3

0.2 0.3

80%

1.3

1.3

0.1 0.5

1,100 1,050 60%

1,000

1,077

1,083

1,087

1,091

950

40%

2.4

2.4

20%

900

0%

FY2012

FY2013

FY2014

1Q FY15

1Q FY14

2Q FY14

Completed properties (excld J-REIT prop)

Note: 1. Country NAV refers to GLP share of the consolidated net asset value of the entities.

Completed properties (J-REIT prop) Properties under development or being repositioned

Land held for future development

26

Brazil Business Highlights for 1Q FY2015 Strong Acquisition Growth and Development Momentum 

Completed US$1.1 billion portfolio acquisition from BR Properties  Strengthened market-leading position – now four times the nearest competitor  Growth potential for fund management platform  Accretion to Brazil portfolio with high lease ratio and lease rate of BRL21.5/sqm/month  On-going due diligence and negotiations on remaining properties



Accelerated Development Activity  Development starts US$186 million (198,000 sqm) at GLP Guarulhos, +214% yoy  48% of FY2015 target (US$390 million) achieved in 1st quarter  Development completion US$41 million (57,000 sqm) at GLP Campinas, GLP Gravataí, +193% yoy

1Q FY2015 BR Properties Acquisition Leasable area Acquisition Price

GLP Louveira I

865,000 sqm US$1.1 billion (BRL 2.4 billion)

Stabilized Lease Ratio

100%

Stabilized Lease Rate

BRL 21.5/sqm/mth

Revenue Yield

9.6% 27

Brazil Portfolio Leading Position in the Market Portfolio Snapshot

Brazil Portfolio

Jun 30, 2014

Mar 31, 2014

 Healthy development pipeline of 0.7 million sqm

Total Valuation

US$2,940 million

US$1,754 million

 Long WALE of 5.9 years

WALE

5.9 years

7.5 years

 High lease ratios of 97% and stable rents

Lease ratios

97%

96%

 Same-property rents growth of 6.1% yoy

No. of completed properties

80

44

Completed properties (sqm mil)

2.4

1.4

US$1,165 million

US$446 million

Country NAV

Lease ratios (%) and Rental (BRL/sqm/mth) 98%

96%

100% 80%

16.0

60% 16.8

17.8

19.1

12.0

3.0 0.4

97%

18.0

14.0

Brazil Portfolio (sqm mil)

2.1

2.1

2.1

2.1

0.6

0.6

0.6

0.6

0.2

0.2

0.2

0.1

0.3

2.4

40% 1.3

1.3

1.4

1.4

1Q FY14

2Q FY14

3Q FY14

4Q FY14

20%

10.0

0% FY2013

FY2014

1Q FY15

Note: 1. Country NAV refers to GLP share of the consolidated net asset value of the entities.

Completed properties Properties under development or being repositioned Land held for future development

1Q FY15

28

Accelerating Growth in China Portfolio As at Jun 30, 2014 Total Area Pro-rata Area Total valuation (sqm million) (sqm million) (US$m) China portfolio

As at Mar 31, 2014 Pro-rata valuation (US$m)

Pro-forma1 Pro-rata valuation % change 5%

18.7

10.4

8,224

4,726

Proforma1 Total Area Total valuation Pro-rata Area (sqm million) (US$m) (sqm million)

Pro-forma1 Pro-rata valuation (US$m)

19.4

10.8

8,641

4,973

Completed and stabilized

7.6

4.8

5,350

3,285

5%

7.4

4.6

5,147

3,137

Completed and pre-stabilized

1.3

0.8

868

499

-5%

1.3

0.8

900

523

Other facilities Properties under development or being repositioned

0.7

0.3

193

77

-7%

0.8

0.3

207

83

4.9

2.4

1,136

588

44%

3.6

1.8

787

409

Land held for future development

4.9

2.5

1,093

523

-9%

5.7

2.9

1,184

574

4.6

2.4

7,978

4,228

5%

4.5

2.3

7,659

4,036

Completed and stabilized

3.8

1.9

7,431

3,935

6%

3.7

1.9

7,010

3,707

Completed and pre-stabilized

0.1

0.1

263

132

-39%

0.2

0.1

433

216

Properties under development or being repositioned

0.5

0.3

243

121

14%

0.5

0.3

204

106

Land held for future development

0.1

0.1

40

40

534%

0.0

0.0

13

6

3.0

1.6

2,940

1,749

178%

2.1

0.8

1,754

629

Completed and stabilized

2.2

1.3

2,524

1,535

198%

1.4

0.5

1,454

515

Completed and pre-stabilized

0.1

0.1

137

107

100%

0.0

0.0

0

0

Properties under development or being repositioned

0.3

0.1

118

47

73%

0.1

0.0

73

27

Land held for future development

0.4

0.1

162

61

-30%

0.6

0.2

227

87

26.9

14.8

19,559

10,950

17%

25.3

13.5

17,638

9,391

Japan portfolio

Brazil portfolio

Total GLP portfolio

Our China portfolio includes land reserves of 12.8 million sqm in addition to the above Note: Comparative proforma figures adjusted for the investment of 24.4% in GLP China by the investor consortium, to enable a like-for-like comparison.

29

GLP Park Lingang China

05.

Appendix

01. Recent Events 02. Company Overview 03. Market Overview 04. Platform 05. Appendix

GLP Campinas Brazil

GLP Shinsuna Japan

GLP Park Longgang China

GLP Group Structure Global Logistic Properties China Consortium Includes China Life Insurance, Bank of China Group Investment, HOPU Funds

~66%

100%

100%

~34%*

Japan AUM: US$8.0bn

China AUM: US$8.6bn

Brazil AUM: US$2.9bn 50%

100%

40%

56%

China Logistics Fund (CLF)

100% owned

Brazil Development Partners I

Japan Devt Venture

15%

33.3%

100%

34.2%

~58%

Japan Income Partners I

J-REIT China JVs

Brazil Income Partners I

100%

Portfolio acquired from BR Properties

100% Owned

Information as of 30 June 2014 *Tranche 1 of 24.4% completed in June 2014. Tranche 2 of 9.6% to be completed by September 2014

31

GLP China Portfolio Founded: Headquarters: Locations: Number of GLP parks: Number of completed properties: Completed area:

2003 Shanghai 34 cities1 156 537 9.6 million sqm

Region

# of Cities

Completed area

North

7

2.1 million sqm

Shenyang Beijing

East

14

5.0 million sqm

South

7

0.9 million sqm

West

6

1.7 million sqm

34

Tianjin Dalian Qingdao

Xi’an

9.6 million sqm

Hefei

Chengdu

Greater Wuhan

Nanjing Wuxi Suzhou Shanghai

Greater Hangzhou Changsha

Ningbo

Chongqing Offices（20）

Greater GuangzhouShenzhen Foshan Zhuhai

Notes: 1. Other cities in which GLP has presence (from north to south): Harbin, Changchun, Langfang, Greater Jinan, Zhengzhou, Yangzhou, Nantong, Changzhou, Wuhu, Wenzhou, Fuzhou, Xiamen, Nanning and Dongguan

32

Typical Development Process Timeline Various Project Identification / Acquisition

3-6 Months

Pre-Development

6-12 Months*

3-9 Months

Construction

Lease-Up

 City / submarket identification

 Project design

 Contracting

 Marketing

 Site selection

 Building permitting

 Foundation

 Customer relationships

 Negotiation with government

 Government approvals

 Base-building

 Customer demand analysis

 Pre-marketing

 Substantial completion

 Lease contracts – negotiation and drafting

 Bidding process

 Construction financing

Tianjin TEDA Park – Pre-Construction

 Tenant fit-out

Tianjin TEDA Park – Completed

A typical development takes ~21 months from site acquisition to lease-up * Typical construction period for single-storey warehouses. Multi-storey warehouses will take about 18 months to be built.

33

Network Effect Case Study Deppon: Complete National Coverage  Network Effect The scale of GLP’s national network offers customers efficient logistics solutions for their expansion, leading to

faster lease up, strong customer retention and good visibility on future demand  Deppon is China’s leading integrated logistics provider offering a full range of products including express road shipping, road freight and air freight  Deppon’s services are critical in improving e-commerce companies distribution efficiency and service quality  Deppon is GLP’s largest customer in China, leasing 328,000 sqm or 4.1% of total leased area, across 16 locations Jun, 2008

Dec, 2008 +6 mths

1

+6 mths

2

Hangzhou 12,000 sqm

+9 mths

3

Jun, 2010 +3 mths

4

5

Wuxi 2,000 sqm

Qingdao 13,000 sqm

Dalian 11,000 sqm

14,000

16,000

29,000

40,000

Dec, 2010

Aug, 2011 +8 mths

6

Mar, 2010

Guangzhou 2,000 sqm

Cumulative

+6 mths

Jun, 2009

Aug, 2012 +12 mths

7

8

Oct, 2012 +2 mths

Jan, 2013 +3 mths

9

10

Suzhou 28,000 sqm

Shanghai 17,000 sqm

Changzhou 16,000 sqm

Shenyang 16,000 sqm

Langfang 53,000 sqm

68,000

85,000

101,000

117,000

186,000

Mar, 2013 11 Hefei 16,000 sqm

+3 mths

12

+7 mths

Harbin Greater Wuhan 25,000 sqm 46,000 sqm

257,000

14

15

Suzhou 18,000 sqm

Shenyang 7,000 sqm

282,000

Jan, 2014

Dec, 2013

Oct, 2013 13

12 Harbin Shenyang 5,9,15 Dalian Beijing 10,17 Langfang 4 Qingdao Hefei 11 Greater Wuhan 1,3,6,7,8,14,16 13 18 Hangzhou, Wuxi, Greater Xiamen Suzhou, Shanghai, Changzhou, Yangzhou 2 Guangzhou

+2 mths

16 Yangzhou 16,000 sqm

298,000

+1 mth

17

May, 2014 +4 mths

18

Beijing 5,000 sqm

Greater Xiamen 25,000 sqm

304,000

328,000 34

GLP J-REIT Overview  GLP J-REIT agreed to acquire 9 wholly-owned assets

from GLP  Total Area: 237,000 sqm  Sale Price: US$518 million  Transaction completed on 2 Sept 2014

Embedded Acquisition Pipeline Right of First Look

On 24 properties, till 2022 1.2 million sqm of additional area US$2.3 billion as of August 2014

Corporate Structure Overview (as of June 30, 2014) Asset Size

US$3.0 billion

LTV Target

45-55%

Portfolio

44 modern logistics facilities in Japan, majority in Tokyo and Osaka

Total

1.6 million sqm

Key Dates

IPO: 21 Dec 2012

GLP Stake

15%

100%

Asset Manager

Sponsor Group

15%

J-REIT

Asset Management Agreement

35

Overview of Brazil Funds GLP Brazil Income Partners I

GLP Brazil Development Partners I

Total Area

1.3 million sqm

Total Area

1.0 million sqm

Latest Book Value

US$1.2 billion

Investment To-date

US$0.7 billion

Existing LTV

40%

Incremental Development Spend

US$353 million

Occupancy Rate

98%

GLP Share of Incremental Development Spend

US$141 million

Weighted Average Lease Expiry

7.3 Years

Ownership (%)

Ownership (%)

CPP 11.6% GLP 34.2% GIC 20.0%

CIC 34.2%

CPP 39.6%

GLP 40.0%

GIC 20.4%

36

Diversified Exposure Across Industries Lease profile by End-user Industry (by Leased Area)

China

Group FMCG, 28% Electronics/ High-tech, 11%

General Logistics Services, 16%

Auto & Parts, 7% Retail/ Fast Food Chain, 25%

Pharma & Medical Instruments, 3%

Retail/Fast Food Chain, 33%

Auto & Parts, 11%

Others, 5% Machinery, 1%

Pharma & Medical Instruments, 1% Others, 8%

Electronics / High-tech, 10%

General Logistics Services, 18%

FMCG, 20% Machinery, 4%

Japan

Brazil FMCG, 33%

FMCG, 42%

Auto & Parts, 3%

General Logistics Services, 7% Electronics/ High-tech, 20%

Retail/ Fast Food Chain, 20%

General Logistics Services, 20%

Others, 10%

Auto & Parts, 3% Retail/Fast Food Chain, 12%

Pharma & Medical Instruments, 6%

Machinery, 4%

Others, 14%

Pharma & Medical Instruments, 5%

E-commerce represents 25% of leased area in China, 10% in Japan and 18% in Brazil

37

Well Staggered Lease Expiry Profile Lease Expiry Profile (by Leased Area) 25%

54% 18% 3%

16%

15% 12%

13% 3%

10%

12%

12%

22% 18% 20%

16% 21%

10% 34% 20% 15%

15%

11%

FY2017

FY2018

FY2019

5% FY2015

FY2016

Japan Note: 1. Group percentages in italics above the bars.

China

Beyond FY2019

Brazil 38

Proforma Income Statement – Comparatives adjusted for China Transaction, J-REIT and FX (US$'m)

1Q FY2015

Actual

1Q FY2014 (Proforma) China Transaction J-REIT Adj Adj FX Related Proforma

Variance

US$'m

%

Revenue

169

143

-

2

(2)

143

26

19%

Change in fair value of invt prop

141

139

-

(8)

(3)

127

14

11%

EBIT EBIT (excld reval)

273 113

258 97

-

(6) 2

(5) (2)

246 97

27 16

11% 17%

(21)

(20)

-

1

-

(19)

(2)

-10%

(5)

11

-

-

(16)

(5)

-

N.M.

179 61

204 64

(5) 3

(21) (18)

14 13

8% 27%

Net Finance Cost - Net borrowing Cost / Interest income - FX gain/(loss) / Fair value changes in financial derivatives PATMI PATMI (excld reval)

(12) (1)

166 48

Note: 1. Comparatives are restated following the adoption of FRS 110 consolidated financial statements. 2. Comparative proforma figures adjusted for the investment of 24.4% in GLP China by the investor consortium, J-REIT and FX related effects to enable a like-for-like comparable base. FX related effects include FX translation, FX gain/loss and changes in fair value of financial derivatives.

39

Consolidated Income Statements

(US$'000) Revenue Other income Property-related expenses Other expenses Share of results (net of income tax) of jointly-controlled entities Share of results Share of changes in fair value of investment properties Profit from operating activities after share of results of jointly-controlled entities Net finance costs Interest income Net borrowing costs Foreign exchange (loss)/ gain Changes in fair value of financial derivatives Non-operating income / (costs) Profit before changes in fair value of subsidiaries' investment properties Changes in fair value of investment properties Profit before income tax Income tax expense Profit for the period Attributable to: Owners of the company Non-controlling interests Profit for the period Note: 1. Comparatives are restated following the adoption of FRS 110 consolidated financial statements.

Three-month Three-month period ended period ended Jun 30, 2014 Jun 30, 2013 169,296 143,467 857 1,311 (31,091) (25,368) (36,570) (30,420) 102,492 88,990 28,986 30,598 9,814 7,695 19,172 22,903 131,478 119,588 (26,362) 3,011 (24,461) (1,062) (3,850) 558 105,674

(8,758) 1,881 (22,038) 5,806 5,593 (41) 110,789

141,452 247,126 (42,195) 204,931

138,529 249,318 (38,013) 211,305

179,422 25,509 204,931

203,953 7,352 211,305 40

Consolidated Statement of Financial Position (US$'000)

As at Jun 30, 2014 11,772,351 1,225,547 29,014 59,002 490,337 447,327 111,585 14,135,163 394,333 2,345,964 2,740,297 16,875,460

As at Mar 31, 2014 10,164,715 1,163,752 28,565 57,549 491,198 412,337 113,185 12,431,301 3,452 405,949 1,500,737 1,910,138 14,341,439

Share capital Capital securities Reserves Equity attributable to equity holder of the company Non-controlling interests Total equity

6,443,796 587,287 2,117,553 9,148,636 2,868,579 12,017,215

6,278,812 595,375 1,883,568 8,757,755 1,365,587 10,123,342

Loans and borrowings Financial derivative liabilities Deferred tax liabilities Other non-current liabilities Non-current liabilities Loans and borrowings Trade and other payables Financial derivative liabilities Current tax payable Current liabilities Total liabilities Total equity and liabilities

3,016,081 13,341 758,822 158,688 3,946,932 205,945 683,573 4,553 17,242 911,313 4,858,245 16,875,460

2,503,677 8,321 716,635 165,318 3,393,951 157,633 644,864 4,444 17,205 824,146 4,218,097 14,341,439

Investment properties Jointly-controlled entities Deferred tax assets Plant and equipment Intangible assets Other investments Other non-current assets Non-current assets Financial derivative assets Trade and other receivables Cash and cash equivalents Current assets Total assets

Note: 1. Comparatives are restated following the adoption of FRS 110 consolidated financial statements.

41

Notes to the Results Presentation Notes to Financial Information 1. Comparative proforma income statement adjusting for China Transaction, J-REIT and FX related adjustments are prepared to present the results on a like-for-like comparable basis. The China Transaction adjustment accordingly adjust for the 24.4% shareholdings in GLP China sold to the consortium of investors as if the dilution had been completed in June 2013. The J-REIT adjustment adjust for the revenue and expenses from the properties disposed to J-REIT since 4Q FY2013, the resultant J-REIT management fee and dividend income received subsequent to the transaction, as if they were disposed off at the beginning of the comparative period. The FX related adjustments include FX translation effects, FX gain/loss and fair value changes in financial derivatives.

2. Country NAV refers to GLP share of the consolidated net asset value of the entities representing its operations in China, Japan and Brazil. Segment NAV refers to Country NAV and adjusted to exclude intercompany loans from GLP, and bonds attributable to China and Brazil segments to reflect the usage of proceeds in China and Brazil. Country NAV accounts for intercompany loans from GLP as liability while Segment NAV considers them as equity. 3. EBIT or PATMI ex-revaluation refers to EBIT or PATMI excluding changes in fair value of investment properties of subsidiaries and share of changes in fair value of investment properties of jointly-controlled entities, net of deferred taxes.

4. EBITDA is defined as earnings before net interest expense, income tax, amortization and depreciation, excluding revaluation. Gross Interest is computed before deductions of capitalized interest and interest income. 5. Exchange rates used in the preparation of the financial information and the portfolio summary are as follows:

Balance sheet items

As at

As at

30 Jun 14

30 Jun 13

Month end closing rates: RMB / USD 6.22 JPY / USD 101.41 SGD / USD 1.25 BRL / USD 2.20

6.20 97.71 1.27 2.21

Income statement items Reporting period average rates:RMB / USD JPY / USD SGD / USD BRL / USD

1 Apr 14

1 Apr 13

to 30 Jun 14

to 30 Jun 13

6.23 102.15 1.25 2.23

6.21 98.62 1.25 2.06

6. Net Debt to Assets ratio – total assets used for computation excludes cash balances. 42

Notes to the Results Presentation Notes to Financial Information 7. RMB3 billion fixed note notes and JPY15 billion fixed rate note issued by Listco are allocated to China and Brazil segments to reflect the usage of these funds in China and Brazil. 8. Weighted average interest cost includes the amortization of transaction costs for bonds and loans. 9. Comparative financial information has been restated following the adoption of FRS 110 consolidated financial statements. The effects of the Group's financial information arising from the adoption of FRS 110 are as follows: Statement of Financial Position

Total assets Cash and cash equivalents Loans and borrowings Income statement

Revenue EBIT EBIT ex-revaluation

31 March 2014

30 June 2014

Increase/(Decrease)

Increase/(Decrease)

US$’m

US$’m

394 15 69

402 23 68

1Q FY2014

1Q FY2015

Increase/(Decrease)

Increase/(Decrease)

US$’m

US$’m

6 5 2

8 10 4

43

Notes to the Results Presentation (cont’d) Notes to Portfolio Assets under Management information 1. Completed Asset Value relates to carrying value of the completed properties, expected completed value of the properties under development and/or targeted completed properties value based on approved investment plans which do not factor in any potential value creation. Any amounts denominated in currencies other than USD are translated based on the exchange rate as of reporting date. 2. Total Area and Total valuation refer to GFA/GLA and valuation of properties in GLP Portfolio. These includes completed and stabilized properties, completed and pre-stabilized properties, other facilities, properties under development or being repositioned, and land held for future development but exclude land reserves. 3. GLP Portfolio comprises all assets under management which includes all properties held by subsidiaries, jointly-controlled entities and GLP J-REIT on a 100% basis, but excludes Blogis, unless otherwise indicated. 4. Land held for future development refers to land which we have signed the land grant contract and/or we have land certificate, including non-core land and properties occupied by Air China and the Government or its related entities, that GLP doesn’t wish to own and will sell. The total area is computed based on estimated buildable area. 5. Land reserves are not recognized on the balance sheet and there is a possibility that it may not convert into land bank. The total area is computed based on estimated buildable area. 6. Lease ratios of China and Japan relate to stabilized logistics portfolio. Lease ratio of Brazil relates to stabilized portfolio including both logistics and industrial properties. 7. Lease profile by End-user Industry analysis includes contracted leases for completed logistics properties and pre-leases for logistics properties under development as at reporting date. 8. New and Expansion Leases include logistic facilities, light industry, industrial and container yards and pre-leases signed by customers. 9. Other facilities includes container yard and parking lot facilities, which are in various stages of completion.

44

Notes to the Results Presentation (cont’d) Notes to Portfolio Assets under Management information (cont’d) 10. Properties under development or being repositioned consists of four sub-categories of properties: (i) properties that we have commenced development; (ii) logistics facilities that are being converted from bonded logistics facilities to non-bonded logistics facilities; (iii) a logistics facility which will be upgraded into a standard logistics facility; (iv) a logistic facility which is waiting for heating and power supply from government and (v) logistics facilities which are undergoing more than 3 months of major renovation. 11. Pro-rata area and Pro-rata valuation refer to area and valuation of properties in GLP Portfolio, pro-rated based on our interest in these entities. 12. Stabilized properties relate to properties with more than 93% lease ratio or more than one year after completion or acquisition. 13. Any discrepancy between sum of individual amounts and total is due to rounding.

45

Disclaimer The information contained in this presentation (the “Information”) is provided by Global Logistic Properties Limited (the “Company”) to you solely for your reference and may not be retransmitted or distributed to any other person. The Information has not been independently verified and may not contain, and you may not rely on this presentation as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of the Company or its subsidiaries. Please refer to our unaudited financial statements for a complete report of our financial performance and position. None of the Company or any of their members, directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) from any use of this presentation or its contents or otherwise arising in connection therewith. This presentation contains statements that constitute forward-looking statements which involve risks and uncertainties. These statements include descriptions regarding the intent, belief or current expectations of the Company with respect to the consolidated results of operations and financial condition, and future events and plans, of the Company. These statements can be recognised by the use of words such as “believes”, “expects”, “anticipates”, “intends”, “plans”, “foresees”, “will”, “estimates”, “projects”, or words of similar meaning. Similarly, statements that describe the Company’s objectives, plans or goals also are forward-looking statements. All such forward-looking statements do not guarantee future performance and actual results may differ materially from those in the forward-looking statements as a result of various factors and assumptions. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of the management of the Company on future events. The Company 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 the Company’s assumptions are correct. By accepting and/or viewing the Information, you agree to be bound by the foregoing limitations.

46

Investor Relations Contact

Ambika Goel, CFA SVP- Capital Markets and Investor Relations Tel: +65 6643 6372 Email: [email protected]

GLP Tianjin Pujia China