Global Logistic Properties Company Overview March 2015

About Global Logistic Properties 

GLP is a leading global provider of modern logistics facilities. Our US$27 billion1 property portfolio encompasses 40 million sqm (429 million sq ft) of logistics facilities across China, Japan, Brazil and USA.



Our growth strategy is centered on being the best operator, creating value through developments and expanding our fund management platform. Domestic consumption is a key driver of demand for GLP



NAV breakdown3

China 55%

Others 8%

GLP is a SGX-listed company with a market capitalization of US$9 billion2; GIC is the largest single investor in GLP

Japan 21%

USA 4% Brazil 12%

GLP Park Suzhou China

GLP Park Tokyo Japan

Note: 1. As of 31 December 2014 2. As of 27 February 2015 3. Pro-forma NAV assuming GLP’s ultimate 10% stake in GLP US Income Partners I

GLP Park Colgate & Elog Brazil

Portland, Oregon USA

2

GLP’s Global Footprint

China 

Presence in 35 cities

 

20.7mm sqm total area 10.6mm sqm completed

United States of America

 

10.0mm sqm development pipeline 12.9mm sqm land reserves



Presence in 29 key markets



11.0mm sqm total and completed area

Japan

Development Starts

FY16 Target



84% in Tokyo and Osaka

 

4.7mm sqm total area 3.9mm sqm completed



0.8mm sqm development pipeline

Brazil

China

US$2.2bn



88% in São Paulo and Rio de Janeiro

Japan

US$980m

 

3.4mm sqm total area 2.4mm sqm completed

Brazil

US$250m



1.1mm sqm development pipeline

Total

US$3.4bn

3

Leading Provider of Modern Logistics Facilities in Best Markets Globally  GLP’s unrivaled network enables customers to seamlessly expand their distribution capabilities and reach consumers more efficiently China

Japan

(mm sqm)

United States

Brazil (mm sqm)

(mm sqm)

(mm sq ft)

8.8

85

74

0.6 0.6

0.5 0.5

63 33

0.5 0.4

0.2 0.2

24

Based on completed area for modern logistics for lease as of December 31, 2014; office and retail properties are excluded Source: Company websites, public filings, various news sources and CBRE estimates

PS Business Parks

East Group Properties

DCT Industrial

Liberty Property Trust

GLP

Duke Realty

Prologis

WT Goodman

BR Properties

MRV Log

Marabraz

GB Amazens

Prologis

Hines

GLP

Mapletree

Goodman Japan

SG Realty

Mitsubishi

Nomura RE

JLF

Lasalle

Daiwa House

Prologis

GLP

0.1

First Industrial

GLP Stake: 90-95%

123 117

2.4

2.1

0.6 0.6 0.6 0.6 0.5

Vailog

ACL

e-Shang

Yupei

Prologis

Mapletree

Goodman

Blogis

2.4

1.3 0.8 0.7 0.7 0.6 0.5

GLP

4.0

1.1 1.1

Beijing Properties

1.5

GLP Stake: 53.1%

GLP Stake: 19.9%

272

4

Proven Track Record of Delivering Growth GLP Completed Area (mm sqm) 27.9

GLP Portfolio Growth FY04 – Latest CAGR: 64%

11.0

14.8

10.0

5.4 3.8 0.2

0.6

FY04

FY05

2002-2004 Key Milestones





2.4

1.3

1.4

0.3 1.0

0.8 1.6

2.4

FY06

FY07

FY08

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

6.4

1.0 9.5

10.6

7.6

2.6

3.2

4.0

2.8

2.8

2.8

3.6

3.6

3.9

3.9

FY10 Brazil US

FY11

FY12

FY13

FY14

Latest

FY09 Japan China 2008–2010

Established network in 18  major logistics hubs in China

6.8

6.0

2.4

1.4

12.2

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 China consortium agreement



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





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

Formed US$1.0 billion partnership, GLP Brazil Income Partners II Entered US market with US$8.1 billion GLP US Income Partners I; Fund management platform grows to US$20.4 billion

5

GLP’s Core Business Lines OPERATIONS  Leading Global Developer, Owner & Manager of Modern Logistics Facilities

 Strong local teams in China, Japan, Brazil and USA

DEVELOPMENT  Value Creation Through Developments; Expected to Accelerate

FUND MANAGEMENT  Another Leg of Growth  Platform: US$20.4 billion (uncalled capital US$4.1 billion)

 Revaluation gains generated from GLP’s share of development completions (~25% margin)

 Fund fees expected to grow significantly, with further upside from carried interest promotes  Scalable Platform; Recurring Fees

 Makes up more than 80% of overall portfolio

 Projected revaluation gains from development of approximately US$1 billion over the next three years

 GLP’s Scale Generates Powerful “Network Effect”

 Development fees and promotes earned off partners’ share of development capex

 Key Driver of Demand: Domestic Consumption

 50% of customer base lease from GLP in multiple locations  Customer Driven Expansion  Repeat customers make up approx. 2/3 of new leases

 US$6 billion of development funds under management to generate significant fees and promotes

 Enables GLP to ramp up growth while creating superior riskadjusted returns through development funds  World Class Investors  Leverage relationships with leading global institutions  Significant demand from capital partners looking to leverage on GLP’s operational expertise and market leadership positions 6

Development Platform Continues to Deliver Growth 

GLP’s development pipeline to generate ~US$1 billion of revaluation gains over next 3 years (on GLP share)  Estimated US$8 billion of Group development completions  GLP share of total development completions: 45%

Components of Recurring Value Creation

 Value creation margin: 25% (FY14 average value creation margin: ~26%)



Promotes Fees

GLP earns off its partners’ share of development capex

Revaluation gains

Generated from GLP’s share of development completions

Value creation through development is a recurring part of GLP’s business 1.

Revaluation gains earned on GLP share of development completions at 25% margin

2.

Development fees- Attractive risk-adjusted returns from development funds •

3.

US$44 million of development fees YTD 3Q FY15, with further upside from US$4 billion of uncalled capital

Promotes- Over time, GLP will recognize significant promote income from reaching IRR hurdles in its fund management platform

Value Creation

7

Accelerated Growth in Fund Management Platform 





Platform today: US$16.3 billion invested, US$4.1 billion uncalled  Total AUM: US$20.4 billion following completion of US transaction  Platform enables GLP to ramp up growth while creating superior risk-adjusted returns through development funds  Significant demand to grow AUM from capital partners looking to leverage GLP’s operational expertise Fund fees expected to grow significantly, with further upside from promotes  3Q FY15 fund fees rose 92% yoy to US$31 million ($15 million of asset & property management fees, US$16 million of development fees)  Significant upside from carried interest promotes in addition to fees Strategic expansion into the US logistics market via best-inclass fund management platform  Portfolio acquisition completed on 27 February 2015; GLP initially holds 55% and expects to pare down stake to 10% by August 2015  Fund syndication currently oversubscribed with various investors in advanced stages of due diligence

Growth in Assets Under Management (US$’bn) US$’bn

25 20.4

20 8.1

15 11.1

10 5 0

2.6

2.6 FY12 Japan

8.4

2.3

3.3

2.4

3.0

3.0

6.0

5.8

6.0

FY13

FY14

Latest

China

Brazil

United States

Breakdown of Investment Type Total AUM: US$20.4 billion

Investment 69%

Development 31%

8

GLP Executive Committee Ming Z. Mei

Yoshiyuki Chosa

Mauro Dias

Higashi Michihiro

Co-Founder & Chief Executive Officer

President, GLP Japan

President, GLP Brazil

Chief Investment Officer, GLP China

Masato Miki

Stephen Schutte

Kazuhiro Tsutsumi

Ralf Wessel

President & CEO, GLP Japan Advisors

Chief Operating Officer

Chief Financial Officer, GLP Japan

Head of Fund Management & Business Development

Heather Xie

Kent Yang

Teresa Zhuge

Chief Financial Officer

President, GLP China

Chief Financial Officer, GLP China

9

Unique Investment Proposition with a Focus on the Best Markets







Outsourcing & e-commerce trends in Japan

Growing domestic consumption in China and Brazil



Limited supply of modern facilities in China and Brazil



Attractive Markets Powerful Platform

 

Market-leading presence in China, Japan, Brazil and USA

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 10

GLP Lingang China

01.

Company Overview

01. Company Overview 02. Our Business 03. Appendix

Miami, Florida USA

GLP Imigrantes Brazil

GLP Park Tosu Japan

GLP Park Hunan China

China: Domestic Consumption and Growth of E-Commerce Driving Logistics Needs Online Retail Sales in China

Chain Store Sales as % of Total Retail 5,634

6,000

0

30%

1,850

2,000

20%

1,300 26

56

128

263

2006

2007

2008

2009

498 2010

774

2011

10% 2012

Huge room to grow

40%

2,760

3,000

1,000

50%

3,780

11-year CAGR: 63%

4,000

65%

60%

4,722

5,000

70%

2013

'14E

'15E

'16E

'17E

5%

0% India

Source: iResearch Consulting Group; Ministry of Commerce

10%

China

US

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

 Capitalizing on China’s fast-evolving retail landscape  China retail sales grew 12.0% year-on-year in 20141 and are forecast to grow by 11.8% in 20152

 GLP’s modern logistics facilities support the rapid growth of chain stores in China  Online retail sales have increased roughly 70-fold since 2006 (7-year CAGR of 84%) and are expected to further double over the next three years to RMB5.6 trillion (US$910 billion) Notes: 1. National Statistics Bureau of China 2. January 2015 issue of Consensus Forecast

12

Japan: Growth of Outsourcing & E-Commerce Trends Drives Demand for Modern Logistics Facilities

5% 4%

4.2%

3% 2% 1% 0% Oct-14

Jul-14

Apr-14

Jan-14

Oct-13

Jul-13

Apr-13

Jan-13

Oct-12

Jul-12

Apr-12

Jan-12

FY2006 - FY2014

0.9% Oct-11

+223%

6%

Jul-11

JAPAN E-COMMERCE SALES

Greater Osaka

7%

Apr-11

FY2006 - FY2014

Greater Tokyo

8%

Jan-11

+104%

Vacancy at Low Levels

10% 9%

Oct-10

JAPAN 3PL MARKET

Source: Ichigo Real Estate, October 2014

 Strong demand from 3PLs and e-commerce companies  Customers increasingly driven by the need to make their distribution networks more efficient  E-commerce market expected to further double over the next five years  Demand continues to outstrip supply – Modern logistics facilities make up 3.1% of total market supply in Japan 13

Brazil: Severe Shortage of Modern Logistics Facilities Creates Significant Opportunities Modern Logistics Facilities Account for ~20% of Supply

Logistics Space Per Capita is 1/15th of the US (sqm per capita)

5.06

Brazil: 64mm sqm

15x 20%

0.33

Others 97.2%

United States

Modern Logistics Facilities: ~13mm sqm Source：CBRE

Brazil

Source：CBRE estimates, EIU

 Robust domestic consumption drives demand for modern logistics facilities  82% of GLP’s Brazil portfolio leased to domestic consumption related customers  While economic growth has slowed, long-term prospects remain attractive  Outsourcing trend: Companies shifting from owning warehouses to leasing amid continued effort to improve supply chain efficiency 14

US Logistics Market: Favorable Fundamentals Expected Growth (CAGR) 2013 to 2018 12 10

Supply (% of Total Stock)

6% 5%

3.7x

4% 8 3%

6

2.7%

2%

1%

3.9%

Completion % of stock

Source: UPS Rates & Forecasting, eMarketer, Forrester

Average

Forecast

2012

2010

2008

2006

2004

2002

2000

1998

1996

1994

1992

1990

Online Retail

1988

Retail

1986

GDP

1984

0%

0

1982

2

10.1%

1.4x

1980

4

Obsolescence Est.

Source: CBRE

 Retail sales and e-commerce expected to continue growing faster than GDP  Online retail sales expected to grow at 10% CAGR in next 3-5 years  Rising industrial production and increasing port volume  Demand outstripping supply: Average new supply of 0.4% p.a. of total stock over past 4 years vs. long term average of 1.7% p.a.

15

GLP Soja Japan

02.

Our Business

01. Company Overview 02. Our Business 03. Appendix

GLP Park Xi’an Hi-Tech China

GLP Guarulhos Brazil

GLP Tokyo II Japan

Central Valley, California USA

GLP’s Business Strategy and Reputation    

To establish long-term cooperative relationships with our customers by providing high quality property and services To provide customers with strong network-based platform of high quality logistic facilities in different markets To hold a leading position in each entered market To maintain stable growth by developing extensive business and using capital leverage from third-parties

Largest Real Estate Fund Manager Headquartered in Asia and 10th Largest in the World ——2014 PERE 50 Ranking GLP Park Misato III, completed in May 2013, became the first LEED ® Platinum certified logistics facility in Japan.

2014 - Best developer, Global

The 'LEED® Certification Mark' is a registered trademark owned by the U.S. Green Building Council ® and is used with permission.

2007-2014 Best developer, China

2007-2014 Best developer, Asia

2014 - Best developer, Japan

Global Deal of the Year for Strategic Entry into Brazil —— Global PERE Awards 2012

——Euromoney 17

Strong Customer Base 

More than 750 high-profile customers worldwide

High Quality Facilities and Service

Comprehensive Network

First-Class Team

Customers 3PLs      

Nippon Express DHL Hitachi NYK Sankyu And more…

Retailers / E-commerce      

Alibaba Walmart JD.com Watsons ASKUL And more …

Manufacturers      

Adidas Samsung Procter & Gamble L’Oreal Goodbaby And More… 18

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 330,000 sqm or 3.8% of total leased area, across 17 cities Jun, 2008

Dec, 2008 +6 mths

1 Hangzhou 16,000 sqm

Cumulative

+6 mths

2

+9 mths

Wuxi 2,000 sqm

18,000

20,000

Aug, 2011 +8 mths

6

7

Mar, 2010

3

Guangzhou 2,000 sqm

Dec, 2010 +6 mths

Jun, 2009

+3 mths

4

5 Dalian 11,000 sqm

Qingdao 13,000 sqm

33,000

Aug, 2012 +12 mths

Jun, 2010

Oct, 2012 +2 mths

8

44,000

9

Jan, 2013 +3 mths

10

Suzhou 28,000 sqm

Shanghai 17,000 sqm

Changzhou 16,000 sqm

Shenyang 16,000 sqm

Langfang 53,000 sqm

72,000

89,000

105,000

121,000

190,000

Mar, 2013 11 Hefei 16,000 sqm

+6 mths

12

13

+7 mths

Harbin Greater Wuhan 20,000 sqm 46,000 sqm

256,000

14

15

Suzhou 18,000 sqm

Shenyang 7,000 sqm

281,000

Jan, 2014

Dec, 2013

Oct, 2013 +2 mths

16

12 Harbin Shenyang 5,9,15 Dalian Beijing 10,17, 19 Tianjin 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

+1 mth

17

July, 2014

May, 2014 +4 mths

18

+2 mths

19

Yangzhou 16,000 sqm

Beijing 5,000 sqm

Greater Xiamen 25,000 sqm

Tianjin 3,000 sqm

297,000

302,000

327,000

330,000

19

Recognition from Customers We choose GLP as a multi-location partner, not only because of its excellent locations and quality facilities, which well meet our business need, but also because of its professional team who gives great support to our expansion, alteration and favorable policy introduction. GLP is a reliable warehousing partner. ——DHL Supply Chain CEO, North Asia Victor Mok In addition to realizing liquidity from the assets, we hope to construct, through the partnership with GLP, a flexible strategy of logistics bases that accommodates the rapid changes in the logistics environment today. ——Masakazu Kamibayashi Director, Panasonic Logistics Co., Ltd. Relying on GLP does not only mean relying on its logistics warehouse experience and high-quality facilities, but also means relying on its effective strategic insight on building both a national and international network. With GLP, we are able to meet both the high-standards of pharmaceutical logistics, and the distribution needs of the fast-paced growth of the pharmaceutical industry. ——Guo Junyu, General Manager, Shanghai Pharmaceutical Holdings Ltd. The use of Amazon Chengdu’s operation center has largely decreased the delivery time needed to reach markets in the west (of China). GLP has provided full support and perfect service to our operation centers, allowing our customers to now receive their goods 1-3 days faster than before. ——Wang Han Hua , Director, Amazon.cn After choosing GLP, our delivery distribution has become highly efficient and smooth, our delivery efficiency has also been enhanced greatly. —GM of Wal-Mart Shenzhen DC, Hu Shaobo Considering SIP GLP Suzhou Park’s strategic location, convenient transportation network, international investment environment, pro-business service, Adidas trusted GLP Park Suzhou to develop 60,000sqm Built-To-Suit warehouse, the largest single warehouse in China, which indubitably improved our logistics efficiency and customer service standards greatly. — Lily Xie, Logistics Director, Adidas

Because we were able to secure a large space in a single floor, the work efficiency has improved drastically. Given the frequent earthquakes in this country, the anti-seismic structure was also an important factor in selecting GLP’s facility. ——Nobuyuki Usui General Manager, SCM Department, Imaging Company

20

Environmental, Social and Governance GLP HOPE SCHOOL

MEMBER OF 1

10 Schools GRESB    

As the leading provider of modern logistic infrastructure globally, GLP has made a long-term commitment to local communities. Since 2006, GLP has donated 10 Hope Schools, of which 8 have been completed. Over 2,600 students benefit from this program. We are now introducing the Hope School Program in Brazil. GLP also continues to develop and manage sustainable and environment-friendly logistics facilities with features that caters to customers’ various needs. In 2013, GLP launched the project to install solar panels on the rooftops of 22 properties in Japan and sell the electricity generated to utility companies. We also plan to introduce the successful experience of solar panels and wind turbines to our parks in China. 2

LEED/CASBEE “A” BUILDINGS

SOLAR PANELS

7 Buildings

22 Properties

1 Global Real Estate Sustainability Benchmark 2 Leadership in Energy and Environmental Design; Comprehensive Assessment System for Build Environment Efficiency

21

GLP Park Beijing Airport China

03.

Appendix

01. Company Overview 02. Our Business 03. Appendix

GLP Park Jiangxia China

GLP Soja Japan

Orange County, California USA

GLP Park Jiashan China

GLP Group Structure Global Logistic Properties ~66%

China Consortium Includes China Life Insurance, China Development Bank, Bank of China Group Investment, China Post, HOPU Funds and others

100%

100%

100%

~34%1

China AUM: US$9.7bn

USA AUM: US$8.1bn

Brazil AUM: US$2.6bn

Japan AUM: US$7.0bn 50%

10%2 40%

56%

100%

Japan Devt Venture

100% owned

Brazil Development Partners I

CLF I 15%

100%

US Income Partners I

33.3%

~58%

J-REIT

Japan Income Partners I

China JVs

34.2%

100% Owned

Brazil Income Partners I

Information as of 31 December 2014 Note: 1. Tranche 1 of 21.3% completed on 6 June 2014. Tranche 2 of 12.5% completed on 24 September 2014 2. GLP holds a 55% stake as of 27 February 2015 and expects to reduce its stake to approximately 10% by August 2015

40%

Brazil Income Partners II 23

Accelerating Growth in China Portfolio As at Dec 31, 2014 Total Area Pro-rata Area Total valuation (sqm million) (sqm million) (US$m) China portfolio

As at Sep 30, 2014 Pro-rata valuation (US$m)

Pro-rata valuation % change

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

Pro-rata valuation (US$m)

20.7

10.1

9,738

4,890

5%

20.2

9.8

9,262

4,657

Completed and stabilized

8.5

4.7

6,091

3,306

5%

8.2

4.5

5,780

3,146

Completed and pre-stabilized

1.4

0.7

941

416

9%

1.2

0.6

839

383

Other facilities Properties under development or being repositioned

0.7

0.3

198

69

1%

0.7

0.3

196

69

4.7

2.0

1,393

615

6%

4.9

2.1

1,307

580

Land held for future development

5.3

2.4

1,114

483

1%

5.2

2.3

1,140

479

4.7

2.2

7,012

3,318

-7%

4.7

2.2

7,576

3,579

Completed and stabilized

3.8

1.8

6,353

2,971

-9%

3.8

1.7

6,971

3,257

Completed and pre-stabilized

0.1

0.1

238

119

-9%

0.1

0.1

262

131

Properties under development or being repositioned

0.8

0.4

421

228

19%

0.8

0.4

343

191

-

-

-

-

N.M.

-

-

-

-

3.4

1.3

2,581

959

-43%

3.0

1.7

2,820

1,683

Completed and stabilized

2.3

0.8

2,184

809

-46%

2.3

1.3

2,441

1,506

Completed and pre-stabilized

0.1

0.0

76

30

-58%

0.1

0.1

98

70

Properties under development or being repositioned

0.4

0.1

175

67

23%

0.3

0.1

140

54

Land held for future development

0.7

0.2

145

53

2%

0.3

0.1

142

52

28.8

13.6

19,331

9,167

-8%

28.0

13.7

19,659

9,919

Japan portfolio

Land held for future development Brazil portfolio

Total GLP portfolio

Our China portfolio includes land reserves of 12.9 million sqm in addition to the above Note: 1. Comparative proforma figures adjusted for the investment of 33.8% in GLP China by the investor consortium, to enable a like-for-like comparison. 2. Brazil pro rata area and valuation include 100% of the properties that will be injected into GLP Brazil Income Partners II fund

24

GLP Fund Management Platform

Vintage

Sep 2011

Dec 2011

Nov 2012

Nov 2012

Dec 2012

Nov 2013

Oct 2014

Feb 2015

Fund Name

GLP Japan Development Venture

GLP Japan Income Partners I

GLP Brazil Income Partners I

GLP Brazil Development Partners I

GLP J-REIT

CLF I

GLP Brazil Income Partners II

GLP US Income Partners I

Assets under Management1

US$2.1bn

US$900m

US$1.0bn

US$1.3bn

US$3.0bn

US$3.0bn

US$1.0bn

US$8.1bn3

Investment ToDate

US$800m

US$900m

US$900m

US$600m

US$3.0bn

US$1.0bn

US$1.0bn

US$8.1bn3

Joint Venture Partners

CPPIB

CIC & CBRE

CIC, CPPIB & GIC

CPPIB & GIC

Public

Various

CPPIB & Other Investor

GIC & Potentially Others2

Total Equity Commitment

US$1.1bn

US$500m

US$500m

US$900m

US$1.4bn

US$1.5bn

US$600m

US$3.2bn3

GLP CoInvestment

50.0%

33.3%

34.2%

40.0%

15.0%

55.9%

40.0%

10.0%2

Investment Mandate

Opportunistic

Value-add

Value-add

Opportunistic

Core

Opportunistic

Value-add

Core

Note: 1. AUM based on cost for in-progress developments (does not factor in potential value creation) and latest appraised values for completed assets 2. GLP holds a 55% stake as of 27 February 2015 and expects to reduce its stake to approximately 10% by August 2015 3. Subject to post-closing adjustments

25

Low Leverage and Significant Cash on Hand 　

Group Financial Position As at Dec 31, 2014

As at Mar 31, 2014

Change %

Total assets

16,703

14,341

16.5

Cash

2,619

1,501

74.5

Total loans and borrowings

2,219

2,661

(16.6)

(Net cash) / Net debt

(400)

1,161

N.M.

Weighted average interest cost

3.6%

3.0%

0.6

3.7

4.3

(14.0)

67%

73%

(6)

(US$ million)

Weighted average debt maturity (years) Fixed rate debt as % of total debt

Leverage Ratios as of December 31, 2014

Debt Ratios for the period ended December 31, 2014 • EBITDA: US$308.8m • Interest: US$65.9m

13.3%

4.7x

-2.8%

Total Debt to Assets

Net Debt to Assets

Note: 1. Comparatives are restated following the adoption of FRS 110 consolidated financial statements. 2. Negative net debt, net debt to assets and net debt/EBITDA positions denote excess cash over total debt

-1.0x Net Debt / EBITDA

EBITDA / Interest

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Key Financial Highlights GROUP PATMI ex revaluation (US$ million) 194

192

Proforma Adj

Proforma Adj

136

135

3Q YTD FY2014

3Q YTD FY2015

3Q YTD 3Q YTD FY2015 FY2014 Proforma Proforma

3Q YTD FY2015

3Q YTD FY2014

Change

Revenue

541

468

16%

541

425

27%

179

178

1%

179

138

30%

EBIT

696

716

-3%

757

657

15%

223

235

-5%

229

201

14%

EBIT ex revaluation

301

319

-6%

361

274

32%

119

118

0%

125

83

50%

PATMI

381

525

-27%

438

407

8%

112

176

-36%

119

122

-3%

PATMI ex revaluation

135

194

-30%

192

136

42%

66

77

-15%

72

46

58%

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

Change (Proforma)

3Q FY2015 3Q FY2014

Change

3Q FY2015 3Q FY2014 Proforma Proforma

Change (Proforma)

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Notes to the Results Presentation Notes to Financial Information 1. Comparative proforma income statement adjusting for China Transaction, J-REIT / FX related and material non-recurring adjustments are prepared to present the results on a like-for-like comparable basis. The China Transaction adjustment accordingly adjust for first tranche of 24.4% and second tranche of 9.4% shareholdings in GLP China sold to the consortium of investors as if the dilution had been completed in June 2013 and September 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. The material nonrecurring adjustments include non-operating gain or loss on disposal and any corresponding gain on forward 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. 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: As at

As at

31 Dec 14

31 Dec 13

Month end closing rates: RMB / USD 6.12 JPY / USD 120.48 SGD / USD 1.32 BRL / USD 2.67

6.11 105.16 1.27 2.34

Balance sheet items

Income statement items

1 Oct 14

1 Oct 13

1 Apr 14

1 Apr 13

to 31 Dec 14

to 31 Dec 13

to 31 Dec 14

to 31 Dec 13

6.13 100.24 1.25 2.27

6.15 106.69 1.27 2.35

6.17 99.26 1.26 2.21

Reporting period average rates:RMB / USD JPY / USD SGD / USD BRL / USD

6.14 114.22 1.29 2.54

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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.

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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 five 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.

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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.

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Investor Relations Contact

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

GLP Tianjin Pujia China