ARA LOGOS

Logistics Trust

12th Credit Suisse ASEAN

Conference Presentation

8 January 2021

2

Agenda

2 Acquisition Update

1 ALOG Overview

5 Additional Information

4 Financials Snapshot & Portfolio Update

3 3Q FY20 Key Highlights

41 – 51 Mills Road, Braeside, Victoria, AUS

ALOG Overview

4

Singapore

Australia

10

1

9

2

5

Adelaide

Melbourne

Sydney

Brisbane

ARA LOGOS Logistics TrustBacked by ARA and Strong Sponsor, LOGOS

Notes:

(1) Name change effective 28 April 2020.

(2) As at 30 September 2020.

ARA LOGOS Logistics Trust, “ALOG”,

(previously Cache Logistics Trust (1)) is

a leading Asian logistics REIT with a

S$1.26 billion(2) portfolio across

Singapore and Australia.

Listed on the SGX, ALOG invests in

quality income-producing real estate

used for logistics purposes and real

estate-related assets in APAC.

Supported by:

◼ ARA – One of Asia’s leading APAC real assets fund manager with a global reach; and

◼ LOGOS – ALOG’s Sponsor and a leading owner, developer and manager of logistics property across APAC

Portfolio Statistics

27 Properties across Singapore and Australia

9.0 mil sf GFA

S$1.26 bil in property value

WALE of 2.6 years by NLA

5

Vision & StrategyProvide High Quality, Best-in-Class Logistics Real EstateSolutions to Our Customers

Asset

Management

Acquisitions

Focused

Development

Environmental,

Social, and

Governance

(ESG)

OUR MISSION:

Long-term sustainable growth in DPU and NAV per unit to Unitholders

6

Strong SponsorshipCementing Position for a Transformative Growth Outlook

Alignment of Interest with Unitholders

Leverage on Collective Expertise,

Resources and Relationships

Access to LOGOS Integrated

Development Platform

Leverage on LOGOS Expansive

Network

Demonstrates Strong

Commitment from ARA and LOGOS

Access New Growth Markets, Expansion and Development Opportunities

Providing Asset, Investment and Development

Expertise

Access to LOGOS’ Strong APAC Network and

Pipeline Opportunities to

Drive Future Growth

Strong Global Partner and Investor Network

Leading APAC Real Assets Fund Manager

7

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

100.0

110.0

S$110bilS$bil

ARA OverviewLeading APAC Real Assets Fund Manager with Global Reach

Notes:

(1) Includes assets under management by ARA Asset Management Limited and the Group of companies (“ARA Group”) and its Associates as at 30 June 2020.

with robust track record

S$110 billion1Gross Assets Managed by ARA Group and its Associates

Strong track recordReal Estate Investment Trusts (REITs)

Private Real Estate Funds

Infrastructure

Country Desks

Real Estate Management Services

Experienced management >25 years of experience on average

Investor-operator modelVertically-integrated investment, asset and property management to

add value to every stage of the asset life cycle

2002Founded in 2002 with a strong APAC focus

Co-founded by Group CEO, John Lim with CK Asset Holdings

Global network, local expertiseHeadquartered in Singapore with 9 offices worldwide, present in

>100 cities in 28 countries

Real estate ecosystem enabled by

technologyMulti-platform, multi-product global fund management business

complemented by forward-looking real estate technology strategy

Robust ESG An integral part of the business, with strong CG practices to

meet fiduciary needs of institutional investors

Consistent, disciplined business expansion and

launch of new products….

John Lim and CK Asset Holdings founded ARA

First fund manager to be listed on SGX

Consortium comprising John Lim, CK Asset Holdings, The Straits Trading Company, Warburg Pincus and AVIC Trust privatised ARA at ~S$1.8 billion

2018-

20202017

2007

2002

Expanding global

reach with Japan,

Europe and US

desks and

establishing

logistics,

infrastructure, real

estate credit and

real estate fintech

platforms

8

LOGOS OverviewLeading Logistics Developer and Real Estate Specialist in APAC

All data as of 30 September 2020.

Strong Regional Presence Vertically Integrated Platform with a Wide Offering

Sovereign Wealth Fund

Australian Pension Fund

Summary of Key Capital Partners

South East AsiaGLA: 1.9mil sqm

AUM: US$3.3bil

Assets: 24

ChinaGLA: 1.9mil sqm

AUM: US$2.5bil

Assets: 20

Australia and

New Zealand GLA: 2.3mil sqm

AUM: US$3.8bil

Assets: 58

IndiaGLA: 0.7mil sqm

AUM: US$0.6bil

Assets: 5

Transaction

sourcing

Development

Leasing

Asset

Management

Divestment

• 2.8mil sqm of space leased to clients including Toll, DHL, Linfox, Alibaba,

REC and Kerry Logistics

• Strong regional relationships with key logistic and warehouse occupiers

• US$10.2bil completed AUM in existing ventures

• Trusted manager with high quality institutional partners

• Value add delivered via strategic acquisitions and active asset

management

• 18%-35% p.a. delivered IRR on A$1.8bil+ divestments of portfolios in

Australia and China

• >US$2.7bil of development commencements in last 12 months

• 6.7mil sqm of logistics real estate owned and under development in

LOGOS ventures

• US$1.0bil transacted in industrial and commercial real estate across the

Group in last 12 months

• Proven track record with access to off market deal flow

Key Tenant Customers

51 Musgrave Road, Coopers Plains, Queensland, AUS

Acquisition Update

10

Oct 2020

Apr 2020

Mar 2020

Announcement of

maiden acquisition

Completion of

ARA’s acquisition

of a majority stake

in LOGOS

Cache Logistics

Trust rebranded as

ARA LOGOS

Logistics Trust

Disciplined execution of ALOG’s Portfolio Rebalancing

and Growth Strategy

Maiden acquisition approximately6 months after its rebranding as ARA LOGOS Logistics Trust in

Apr 2020

Demonstration of symbiotic and beneficial relationship with LOGOS

Increasing strategic presence in a key market

for ALOG

Clear growth trajectory with LOGOS as a strong integrated logistics real estate Sponsor

Ability to leverage on LOGOS’ network for pipeline opportunities

for a clear growth trajectory

ALOG can confidently grow its strategic presence in Australia by leveraging on LOGOS’ integrated

logistics real estate platform

Maiden Acquisition Since Rebranding as ARA LOGOS Logistics Trust

11

Key Benefits to Unitholders

Allows ALOG to Ride on

E-commerce Growth and Robust

Demand for Cold Storage Space

Addition of High Quality Prime

Logistics Properties Underpinned

by Reputable Tenants

Deepens ALOG’s Footprints in a

Key Strategic Logistics Market

Complements and Strengthens the

Resilience of ALOG’s Existing

Portfolio

12

Portfolio TransformationProposed Acquisitions and Fund Investments

Transaction

overview

▪ S$404.4m(1) proposed acquisition by ARA LOGOS Logistics Trust

(“ALOG”) consisting of:

i. S$225.9m(2) in respect of five logistics properties in Australia

including a development asset (“Heron”(3)) (“New Australia

Properties”); and

ii. S$178.5m(4) in respect of a 49.5% interest in New LAIVS Trust

(“New LAIVS Fund”) and 40.0% interest in Oxford Property

Fund (“OP Fund”);

collectively the “Proposed Acquisitions and Fund Investments”

▪ The New LAIVS Fund has a portfolio of four logistics properties in

Australia and the OP Fund holds one logistic property in Australia

(collectively, the “Australia Fund Properties”, and together with

the New Australia Properties, the “New Property and Fund

Portfolio”)

▪ Investments in the New LAIVS Fund and the OP Fund would be

classified as an investment in real estate-related assets under

Appendix 6 of the Code on Collective Investment Schemes issued

by the Monetary Authority of Singapore (“MAS”) (the “Property

Funds Appendix”)

Key

highlights(5)▪ 28.2% increase in deposited property value to S$1.7bn(6)

▪ The share of portfolio value attributable to assets based in Australia

increases from 32.5% to 47.6%

▪ Increase in WALE (by NLA) from 2.8 to 4.6(7) years

Proposed Acquisitions and Fund Investments

27

Properties• 10 SG assets

• 17 AU assets

• Deposited

property value

of S$1.3bn

40.0%

investment in OP

Fund which holds 1

AU property

New Australia

Properties

5 AU properties(3)

49.5%

investment in New

LAIVS Fund, which

holds 4 AU

properties

Total deposited property value

of S$1.7bn(5)(6)Note: SGD/AUD of 1.0225 (as of 30 September 2020) used for illustrative purposes.

(1) Aggregate Consideration which includes 100% of the purchase consideration in respect of Heron, or S$345.8m if based on 5% down payment for Heron.

(2) The New Australia Properties Purchase Price will be net of outstanding tenant incentives reimbursed by LP Seller. In other words, the amount of tenant incentives will be deducted from the

consideration payable for the New Australia Properties.

(3) ALOG has made 5% down payment in respect of Heron, and will complete the acquisition of the Heron Property within three months after initial practical completion, which is currently expected to be in

November 2021.

(4) The Fund Investment Amount will be net of outstanding tenant incentives reimbursed by Fund Vendors. In other words, the amount of tenant incentives will be deducted from the consideration payable

for the Fund Investment Amount.

(5) Pro forma basis as at 30 June 2020.

(6) Pro forma deposited property value includes 49.5% interest in New LAIVS Fund, 40.0% interest in OP Fund and 100% interest in the New Australia Properties save in respect of Heron, for which

only 5% down payment has been included.

(7) Includes 100% interest in Heron, and excludes Australia Fund Properties.

13

SingaporeDeposited property value:

S$873.7m

10Existing

Assets

Asset acquisition

Held by New LAIVS Fund

Held by OP Fund

5 New Brisbane (QLD) Assets

1-5 & 2-6 Bishop

Drive, Port of

Brisbane

53 Peregrine Drive,

Port of Brisbane

8 Curlew Street,

Port of Brisbane

47 Logistics Place,

Larapinta

3 New Melbourne (VIC) Assets

34-58 Marshall

Court, Altona

1 Hume Road,

Laverton North

27-43 Toll Drive,

Altona North

2 New Sydney (NSW) Assets

11-14 John

Morphett Place,

Erskine Park

69 Sargents Road,

MinchinburyQueensland

New South

Wales

Victoria

AustraliaDeposited property value:

S$785.3m

17Existing

Assets

5New

Australia

Properties

Brisbane5 Existing

5 New

Sydney2 Existing

2 New

Melbourne9 Existing

3 New

Adelaide1 Existing

5Australia

Fund

Properties

Corner Heron Drive and

Curlew Street,

Port of Brisbane(1)

Note:

(1) Development asset with initial practical completion currently expected to be in November 2021.

Enlarged PortfolioMore Balanced Exposure to SG and AU

14

Note: Based on the exchange rate of S$1.00 = A$1.0225 (as of 30 September 2020) used for illustrative purposes only.

(1) Includes 100% interest in the New Australia Properties (save in respect of the Heron Property, for which only the deposit amounting to 5% of the purchase price was included), 49.5%

interest in New LAIVS Fund and 40.0% interest in OP Fund.

(2) Includes New Australia Properties (including 100% interest in the Heron Property), and excludes Australia Fund Properties. Pro forma WALE does not include rental top-up or guarantees.

(3) Rounded to nearest whole number.

(4) Includes New Australia Properties and excludes Australia Fund Properties.

2.8

4.6

As at 30 June 2020 Pro forma as at 30 June 2020

52.4%47.6%

67.5%32.5%

S$1.6bnPortfolioValue

S$1.3bnPortfolioValue

As at 30 June 2020

Pro forma as at 30 June 2020

Deposited property value (S$m)

Catalyst for ALOG’s re-rating to support ALOG’s long-term growth plans

Geographical diversification Increased weighted average ground lease tenor (by NLA)

Increased portfolio WALE (by NLA) (years)

As at 30 June 2020 Pre-acquisition(3) Post-acquisition(3)(4)

Total NLA 811,695 sqm 1,040,762 sqm

- Freehold 334,600 sqm 342,304 sqm

- Leasehold 477,095 sqm 698,458 sqm

Weighted average

ground lease tenor (by

NLA) attributable to

leasehold assets as at 30

June 2020

24 years 29 years

(2)

1,2951,659

Deposited property value(as at 30 June 2020)

Pro forma deposited property value(as at 30 June 2020)(1)

Enlarged PortfolioWell-Positioned for Next Stage of Growth

15

Industrial & Consumer Goods

72%

Food & Cold Storage

15%

Healthcare3%

Aerospace2%

Automotive2%

Information Technology

1%

Materials, Engineering, Construction

1%

E-Commerce2%

Others2%

Industrial & Consumer Goods

62%

Food & Cold Storage

13%

Healthcare3%

Aerospace1%

Automotive2%

Information Technology

1%

Materials, Engineering, Construction

1%

E-Commerce2%

Others1%

Transport & Shipping

14%

# Tenant % of GRI Credit Standing

1DHL Supply

Chain12.1%

▪ Credit rating BBB+ / A3

▪ Blue-chip logistics company

2 CWT 6.7% ▪ Global logistics company

3 ACFS 6.2%▪ AU’s largest privately-owned

container logistics operator

4 IPS Logistics 6.1%▪ One of AU’s leading logistics

operators since 1997

5 Schenker 5.1%▪ Credit rating AA- / Aa1

▪ Blue-chip logistics company

6 Metcash 4.4%▪ AU’s leading wholesale

supermarket operator

7 FedEx 4.0%▪ Credit rating BBB / Baa2

▪ Blue-chip logistics company

8

McPhee

Distribution

Services

3.9%▪ Warehouse operator in AU with

94 year operating history

9 ST Synthesis 3.3%▪ Credit rating AAA / Aaa

▪ SG SOE engineering company

10 Penske 3.0%▪ End-to-end logistics provider,

part of Penske Corporation

Top 10 tenants as at 30 June 2020 on pro forma basisTenant industry sectors (by GRI) as at 30 June 2020

70 tenants

74 tenants

As at 30 June 2020

Pro forma as at 30 June 2020

Note: ACFS and IPS Logistics are new additions to ALOG’s top 10 tenants as at 30 June 2020 on pro forma basis. Credit ratings denoted in the following order: S&P / Moody’s.

Addition of “Transport & Shipping” tenant industry sector

Enlarged PortfolioWell-Diversified and Quality Tenant Base

16

Key Takeaways

Maiden acquisition since rebranding as ARA LOGOS Logistics Trust

Deepens strategic presence in Australia’s attractive logistics market

New Property and Fund Portfolio comprises prime assets located in

critical economic hubs

Good quality portfolio underpinned by reputable tenants

Strong support from LOGOS through its participation in the Equity

Fund Raising

Transformational acquisition to propel ALOG into the next stage of

growth

Deepen presence in the defensive cold storage sector

17

Ordinary

Resolutions Resolution 1: The LP Property Acquisition, as an interested person transaction;

Resolution 2: The Proposed Larapinta Property Acquisition and Fund Investments, as interested person

transactions;

Resolution 3: The Proposed Ivanhoé Issuance and Proposed LOGOS Issuance, pursuant to Rule 812 of

the Listing Manual;

Resolution 4: The potential transfer of a controlling interest to LOGOS Property Group Limited as a result of

the Proposed LOGOS Issuance and the Preferential Offering, pursuant to Rule 803 of the Listing Manual;

Resolution 5: The proposed issuance of New Units under the Equity Fund Raising;

Resolution 6: The proposed general mandate for the issuance of New Units and/or convertible securities.

Outcome of EGM Resolutions

Unitholders have voted in favour for ALL resolutions

✓

✓

✓

✓

✓

✓

Inte

r-conditio

nal

ALOG Changi DistriCentre 1, Singapore

3Q FY20 Key Highlights

19

3Q FY20 Key HighlightsResilient Portfolio Underpinned by Strong Fundamentals

Notes:

(1) Out of the S$2.5 mil distributable income retained in 1Q FY20, S$1.5 mil of the retained distributable income in total has been released to Unitholders YTD.

(2) Based on 1,092,786,817 Units issued and to be issued as at 30 Sep 20. NAV Per Unit is computed based on the net assets attributable to Unitholders.

(3) ICR is computed based on trailing 12-month period ending on 30 Sep 2020. Includes margin and amortisation of capitalised upfront fee, excluding non-recurring finance expenses and upfront fees written-off.

(4) Excludes unamortised transaction costs.

Portfolio Update

Strong Portfolio Occupancy

97.0% committed

WALE (by NLA)

2.6 years

Significant Leases Secured

~ 1.5 mil sf in YTD FY20

High Quality and Diversified Tenants

Well-Supported

Sectors Represented

Across the Portfolio

Prudent Capital Management

Aggregate Leverage

40.5%

YTD All-in Financing Cost

3.32%

NAV (2)

S$0.58 per unit

Interest Coverage Ratio (3)

3.7 times

Total Debt (4)

S$527.3 mil

Average Debt to Maturity

3.3 years

Financial Performance

Gross Revenue

S$29.5 mil

NPI

S$22.9 mil

Distributable Income Declared

S$16.0 mil

DPU to Unitholders

1.461 cents

Retained Distributable Income Released

to Unitholders

S$1.0 mil(1)

DHL Supply Chain Advanced Regional Centre, Singapore

Financial Update

21

27.7

21.1

29.5

22.9

3Q FY19 3Q FY20 3Q FY19 3Q FY20

Gross Revenue NPI

3Q FY20 vs 3Q FY19 Performance (Y-o-Y)Stronger Portfolio Performance

◼ Continued to deliver stronger Y-o-Y performance, with Gross Revenue and NPI increasing 6.5% and 8.3% respectively.

◼ Improved performance was mainly due to higher revenue contribution and commencement of new leases at several properties during the quarter.

◼ Distributable income was 12.3% higher as compared to 3Q FY19. On a like-for-like basis, 3Q FY20 would have been up 19.0%.(3)

(S$ mil) (S$ mil)

Gross Revenue and Net Property Income Distributable Income

Notes:

(1) One-off distribution of S$1.1 mil tax-exempt income from the divestment of Jinshan Chemical Warehouse and S$0.5 mil capital distribution.

(2) One-off distribution consists of S$1.0 mil of the S$2.0 mil remaining retained distributable income released as part of 3Q FY20 distributable income.

(3) Excluding above footnote (1) and (2).

12.6(3)15.0(3)

1.6(1)

1.0(2)

3Q FY19 3Q FY20

Adjusted Distributable Income Capital andOne-off Distribution

14.2

16.0

22

1.313

1.461

3Q FY19 3Q FY20

3Q FY20 vs 3Q FY19 Distribution (Y-o-Y)Stronger Portfolio Performance

Notes:

(1) Excluding capital and one-off distribution for purpose of like-for-like comparisons.

(2) Excluding one-off distribution of S$1.1 mil tax-exempt income from the divestment of Jinshan Chemical Warehouse and S$0.5 mil capital distribution.

(3) Excluding S$1.0 mil of the S$2.0 mil remaining retained distributable income released as part of 3Q FY20 distributable income.

DPU Adjusted DPU(1)

1.161(2)

1.369(3)

3Q FY19 3Q FY20

(Cents) (Cents)

23

29.0

21.9

29.5

22.9

2Q FY20 3Q FY20 2Q FY20 3Q FY20

Gross Revenue NPI

3Q FY20 vs 2Q FY20 Performance (Q-o-Q)Delivered Robust Performance in 3Q FY20

◼ Both Gross Revenue and NPI increased 1.8% and 4.6% respectively mainly due to higher revenue generated across the portfolio and commencement of new leases during the quarter.

◼ 3Q FY20 distributable income increased 10.4% to S$16.0 mil from S$14.5 mil in 2Q FY20. On a like-for-like basis, 3Q FY20 would have also increased 7.2%.(3)

(S$ mil) (S$ mil)

14.0 15.0

0.5(1)1.0(2)

2Q FY20 3Q FY20

Distributable Income One-off Distribution

14.5

16.0

Gross Revenue and Net Property Income Distributable Income

Notes:

(1) S$0.5 mil of the S$2.5 mil retained distributable income in 1Q FY20 released as part of 2Q FY20 distributable income.

(2) S$1.0 mil of the remaining S$2.0 mil retained distributable income distributed as part of 3Q FY20 distributable income.

(3) Excluding footnotes (1) and (2),

24

1.280(2)

1.369(3)

2Q FY20 3Q FY20

1.326

1.461

2Q FY20 3Q FY20

3Q FY20 vs 2Q FY20 Distribution (Q-o-Q)Delivered Robust Performance in 3Q FY20

DPU Adjusted DPU(1)

(Cents) (Cents)

Notes:

(1) Excludes one-off distributions for the purpose of a like-for-like comparison.

(2) Excluding the S$0.5 mil of S$2.5 mil retained distributable income in 1Q FY20 distributed in 2Q FY20.

(3) Excluding the S$1.0 mil of the remaining S$2.0 mil retained distributable income released as part of 3Q FY20 distributable income.

25

Prudent Capital ManagementWell-Balanced Debt Maturity Profile Extending Into Future Years

Debt Maturity Profile Interest Rate Hedging

53.0

110.0

227.3

137.0

0

50

100

150

200

250

300

2020 2021 2022 2023 2024 2025

SGD Loan AUD Loan

% of

debt due0% 10% 0% 21% 43% 26%

◼ Total Outstanding Debt of S$527.3 mil as at end-Sep 2020.

◼ Well-Managed Debt Maturity Profile. No further refinancing requirements until Dec 2021.

◼ Weighted Average Debt Maturity was 3.3 years as at 30 Sep 2020.

Floating Rate31.9%

Fixed Rate68.1%

◼ 68.1% of total debt hedged.

◼ 83.3% of SGD debt and 28.6% of onshore AUD borrowings are hedged with an average term of 2.6 years.

Forex Hedging

◼ 87.1% of distributable income is hedged or derived in SGD to reduce the impact of adverse exchange rate fluctuation.

SGD62.2%Hedged (AUD)

24.9%

Unhedged (AUD)12.9%

(S$ million)

ALOG Commodity Hub, Singapore

Portfolio Update

27

Portfolio PerformanceHigh Occupancy with Significant Leases Secured YTD

Notes:

(1) Excludes short-term leases.

(2) Based on the weighted average variance between the average signing rents for new and renewed leases and the average signing rents of preceding leases.

(3) Excludes leases with different lease structures (e.g. master lease to multi-tenant), short-term leases and when the leased areas differ significantly.

(4) Based on one applicable lease executed in 3Q FY20, in line with footnote 3 above.

Leases Secured in YTD FY20

High Occupancy As at 30 September 2020

High Committed Portfolio Occupancy Achieved 97.0%

Significant leases secured in YTD FY20(1) 1,521,200 sq ft

Rental Reversion YTD FY20 - 1.0%

3Q FY20(1) Area (sq ft)

Renewals 61,300

New Leases 6,300

Total 67,600

Rental Reversion(2) (3) - 9.4%(4)

1,026,600

494,600

Renewals New Leases

28

Portfolio Expiry ProfileMinimal Upcoming Expiries For the Remainder of FY2020Well-Balanced Lease Expiry Profile

◼ Only 4.4% lease expiries remaining for FY2020 (by GRI).

◼ Commenced early negotiations with existing and potential new tenants to secure early commitments ahead of expiry i.e. at least 6 months in advance.

◼ Management will continue its proactive leasing efforts to maintain a high portfolio occupancy level.

3.8%

32.9%

19.8%

14.3%

3.9%

25.4%

4.4%

32.8%

20.0%

14.0%

3.6%

25.2%

FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 and beyond

By NLA By Gross Revenue

WALE by NLA 2.6 years

WALE by GRI 2.5 years

29

Singapore59%

Australia41%

Singapore74%

Australia26%

Portfolio Rebalancing & GrowthPerformance Driven by Diversified and Balanced Portfolio

WALE (by NLA)

Portfolio NLA Gross Revenue

Portfolio Valuation

Singapore68%

Australia32%

2.6 years

2.8 years

2.4 years

Portfolio

Australia

Singapore

30

Portfolio Diversification –Strong and Diversified Portfolio Supported by Quality Tenants

Greater Balance of

Multi-Tenanted and Single-User Lease StructuresGeographical Diversification21

Credit Quality:

Majority of Tenants are Multinational Companies (MNCs)

Well-Supported Industry Sectors Represented43

Single-User29%

Multi-Tenanted

71%

Singapore, 74%

Australia, 26%

Gross

Revenue

Multinational Companies

& Others62%

Small-Medium

Enterprises (SMEs)

38%

72%

15%

3%2%2%1%

1%2% 2%Industrial & Consumer Goods

Food & Cold Storage

Healthcare

Aerospace

Automotive

Information Technology

Materials, Engineering, Construction

E-Commerce

Others

Gross

Revenue

Gross

Rental

Income

Gross

Rental

Income

31

Diversified Tenant BaseHigh Quality Tenants

◼ Top 10 tenants make up approximately 52.6% of ALOG’s GRI.

◼ Diversified tenant base comprise mainly high quality multinational businesses in the logistics / supply

chain and other diverse sectors including FMCG, transportation and construction.

Top 10 Tenants by % of GRI

14.0%

6.0%

7.9%

5.2%4.6% 4.5%

3.8% 3.5%2.7% 2.4%

14.0%

5.9% 5.8% 5.2%4.6% 4.6%

3.8% 3.5%2.7% 2.4%

30-Jun-20 30-Sep-20

32

Contact Information

Cassandra Seet

Manager, Investor Relations

cassandraseet@ara-group.com

ARA LOGOS Logistics Trust

Management Limited

5 Temasek Boulevard #12-01

Suntec Tower Five

Singapore 038985

Tel: +65 6835 9232

Website: www.aralogos-reit.com

For enquiries:

33

Disclaimer

This presentation has been prepared by ARA LOGOS Logistics Trust Management Limited, in its capacity as the manager of ALOG (the “Manager”) and

includes market and industry data and forecast that have been obtained from internal survey, reports and studies, where appropriate, as well as market

research, publicly available information and industry publications. Industry publications, surveys and forecasts generally state that the information they contain

has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information. While

the Manager has taken reasonable steps to ensure that the information is extracted accurately and in its proper context, none of the Manager or any of its

officers, representatives, affiliates or advisers has independently verified any of the data from third party sources or ascertained the underlying economic

assumptions relied upon therein.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and

conclusions contained in this presentation. The information contained in this presentation, unless otherwise specified, is only current as at the date of this

presentation. To the maximum extent permitted by law, the Manager and its officers, directors, employees and agents disclaim any liability (including, without

limitation, any liability arising from fault or negligence) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this

presentation or its contents or otherwise arising in connection with it.

Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that unitholders of ALOG (“Unitholders”) may only

deal in their Units through trading on Singapore Exchange Securities Trading Limited (the “SGX-ST”). Listing of the units in ALOG (the “Units”) on the SGX-ST

does not guarantee a liquid market for the Units.

The value of the Units and the income from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its

affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.

This presentation may contain forward-looking statements and financial information that involve assumptions, risks and uncertainties based on the Manager’s

current view of future events. Actual future performance, outcomes and results may differ materially from those expressed in the forward-looking statements

and financial information as a result of risks, uncertainties and assumptions – representative examples include, without limitation, general economic and

industry conditions, interest rate trends, cost of capital, capital availability, shifts in expected levels of property rental income, change in operating expenses,

property expenses and government and public policy changes and 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 and financial information, which are based on numerous

assumptions regarding the Manager’s present and future business strategies and the environment in which ALOG or the Manager will operate in the future. The

Manager expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement or financial information

contained in this presentation to reflect any change in the Manager’s expectations with regard thereto or any change in events, conditions or circumstances on

which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the SGX-ST and/or any

other regulatory or supervisory body or agency. The past performance of ALOG and the Manager is not necessarily indicative of the future performance of

ALOG and the Manager.

223 Viking Drive, Wacol, Queensland ,AUS

Additional Information

35

86.4

65.4

87.3

66.8

YTD FY19 YTD FY20 YTD FY19 YTD FY20

Gross Revenue NPI

YTD FY20 vs YTD FY19 PerformanceStrong Portfolio Operating Metrics

◼ Gross Revenue and NPI improved by 1.1% and 2.2% respectively, due to the commencement of new leases at certain properties and higher revenue contribution across the portfolio.

◼ YTD FY20 distributable income was 7.9% lower than YTD FY19. However, on a like-for-like basis, distributable income would have been 7.5% higher instead.(3)

(S$ mil) (S$ mil)

Gross Revenue and Net Property Income (as at 30 Sep 20) Distributable Income (as at 30 Sep 20)

Notes:

(1) One-off distribution of S$4.3 mil in relation to 51 Alps and the divestment of Jinshan Chemical Warehouse and capital distribution of S$1.2 mil in YTD FY19.

(2) Only S$1.0 mil of distributable income retained YTD FY20 to address potential mandatory rental deferment and/or waivers required to support some tenants. S$1.5 mil of the S$2.5 mil retained distributable

income has been released as part of 2Q FY20 and 3Q FY20 distributable income. Amount shown for purpose of like-for-like comparisons only.

(3) Excluding footnote (1) and including footnote (2).

39.3 41.3

1.0(2)5.5(1)

YTD FY19 YTD FY20

Distributable Income Retained Income

Capital andOne-off Distribution

44.8 42.3

36

3.622(2)

3.875(3)

YTD FY19 YTD FY20

4.147

3.784

YTD FY19 YTD FY20

YTD FY20 vs YTD FY19 DistributionStrong Portfolio Operating Metrics

Notes:

(1) Excludes capital and one-off distributions for the purpose of a like-for-like comparison.

(2) Excluding one-off distribution of S$4.3 mil in relation to 51 Alps and the divestment of Jinshan Chemical Warehouse and capital distribution of S$1.2 mil in YTD FY19.

(3) Including the S$1.0 mil remaining retained distributable income in YTD FY20.

DPU (as at 30 Sep 20) Adjusted DPU(1) (as at 30 Sep 20)

(Cents) (Cents)

37

Portfolio Statistics

Notes:

(1) Based on FX rate of S$1.00 = A$1.0588.

(2) For the purpose of presentation, freehold properties are computed using a 99-year leasehold tenure.

(as at 30 Sep 20)

27 Logistics Warehouse Properties Singapore - 10

Australia - 17

Total Valuation(1) S$1.26 bil

Gross Floor Area (GFA, approx.) 9.0 million sq ft

Committed Occupancy Portfolio – 97.0%

Singapore – 98.7%

Australia – 94.7%

Weighted Average Lease to Expiry (“WALE”) by NLA 2.6 years

WALE by Gross Rental Income (“GRI”) 2.5 years

Weighted Average Land Lease Expiry 53.8 years(2)

Rental Escalations within Single-Tenant / Master Leases ~1% to 4% p.a.

Number of Tenants 71

38

COVID-19 Update

• High rental collection rate continues to be

seen across ALOG’s portfolio.

• ALOG’s tenants have been operating in SG

and AUS throughout the course of the

pandemic.

• Only a handful of tenants across the

portfolio have written in to seek assistance

and only a couple have made formal

representation seeking relief.

• Distributed S$1.5 million of the S$2.5 million

previously retained distributable income in

2Q FY20 and 3Q FY20.

Impact on ALOG Manager’s Strategy

• Continue to review the release of the

remaining S$1.0 million retained distribution

income while remaining mindful of the

current conditions.

• Prudently manage ALOG’s cash flow to

balance between distribution to Unitholders

and provisioning for future events.

• ALOG’s high-quality and defensive portfolio

continues to be well-positioned to leverage

on the continued growth of the logistics

sector.

39

Market Outlook – SingaporeStable and Resilient Logistics Market Fundamentals

Moderated Supply Pipeline

Source: JTC J-Space / JTC Quarterly Market Report - Industrial Properties, 3Q 2020.

Grey bars refer to supply space

that has been committed. Figures

for 2020-2023 are based on total

new supply and projected take up

of the new supply on a GFA basis.

3Q 2020 Warehouse

Vacancy: 10.9%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

-

100

200

300

400

500

600

700

800

900

1,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (E) 2021 (E) 2022 (E) 2023 (E)

Singapore Warehouse Annual Net Completion, Absorption and Vacancy Rate (%)

Annual Net Warehouse Completion Annual Net Warehouse Absorption

Average Annual Net Supply (Past 10 Years) '000 sqm LHS Singapore Warehouse Year-End Vacancy Rate (%) RHS

40

Market Outlook - SingaporeStable and Resilient Logistics Market Fundamentals

Industrial Rental Index

Notes:

(1) CBRE Research, Singapore Real Estate Research Report, 2Q 2020.

(2) CBRE Research, Singapore MarketView, Trudging Along, 3Q 2020.

Historical and Future Factory &

Warehouse Net Supply (2015-2023)

▪ Leasing activity in 3Q 2020 comprise mainly of renewals and relocations. Even though government stockpiling has

tapered off, warehouse and prime logistics space leasing demand continues to remain stable.

▪ Appetite for warehouse and prime logistics spaces remains well-supported by e-commerce, food logistics and third-

party logistics players. Vacancy for prime logistics space has also experienced compression with most buildings

achieving almost full occupancy.

▪ Rents for logistics spaces continues to be driven by resilient leasing demand, with both ground and upper floor

warehouse rents rising by 0.5% q-o-q in 3Q 2020.

▪ For the remainder of 2020, there has also been a visible decline in supply pipeline, due to construction delays

experienced as a result of the pandemic.

41

Market Outlook - AustraliaStable and Resilient Logistics Market Fundamentals

▪ Value of e-commerce has increased significantly due to COVID-19 and this structural and cultural shift is expected to be

permanent.

▪ Occupier demand in the industrial and logistics sector continues to remain robust as businesses are looking at future-proofing

their supply chain capabilities.

▪ Over the medium term, significant new supply is likely to see more market absorption due to buoyant demand fundamentals,

supported by the increasing relevance of e-commerce in Australia, the ongoing higher demand for Australian products including

food and medical supplies, and strong population growth.

▪ The role of infrastructure investment by governments is also expected to play a key role in the post-pandemic economic

recovery of Australia, which will positively impact the outlook for industrial demand.

▪ A significant amount of new completions is expected in 2020. In addition, pre-commitment rates have also been high for recently

completed buildings and developments in the pipeline, indicating tighter vacancy rates driven by robust demand.

Notes:

(1) Colliers Radar, Q2 2020 Industrial & Logistics Market Update, August 2020.

(2) JLL Research, The Road Ahead Logistics Report, September 2020

Demand and SupplyAnnual GDP Growth, Australia

42

ALOG’s Portfolio OverviewSingapore

Pandan/ Penjuru/ Gul Way

Second link

(Tuas checkpoint)

Johor

Causeway Link

Sembawang

Wharves

Pulau Ubin

Keppel Terminal

Sentosa

Pasir Panjang

Terminal

Jurong

Island

Jurong Port

12

3

4

Changi

International

Airport6 7

8

910

Pan Asia Logistics Centre

21 Changi North Way

Air Market Logistics

Centre 22 Loyang Lane8 9

Schenker Megahub

51 Alps Avenue5

DHL Supply Chain ARC

1 Greenwich Drive10

ALOG Commodity Hub

24 Penjuru Road1

ALOG Cold Centre

2 Fishery Port Road2

Pandan Logistics Hub

49 Pandan Road3

ALOG Gul LogisCentre

15 Gul Way4

Changi North / Loyang Airport Logistics Park

Tampines LogisPark

ALOG Changi

DistriCentre 2

3 Changi South Street 3

7

ALOG Changi

DistriCentre 1

5 Changi South Lane

6

Changi South

43

ALOG’s Portfolio OverviewAustralia

Sydney, New South Wales

127 Orchard Road,

Chester Hill16

3 Sanitarium Drive,

Berkeley Drive17

Adelaide, South AustraliaBrisbane

Sydney

Adelaide

Melbourne

Brisbane, Queensland

196 Viking Drive,

Wacol

11 – 19 Kellar Street,

Berrinba14 15

51 Musgrave Road,

Coopers Plains11

203 Viking Drive,

Wacol12

223 Viking Drive,

Wacol13

404 – 450 Findon

Road, Kidman Park26

182 – 198 Maidstone

Street, Altona27

217 – 225 Boundary

Road, Laverton North19 16 – 24 William

Angliss Drive,

Laverton North

20

41 – 51 Mills Road,

Braeside22 67 – 93 National

Boulevard,

Campbellfield

23

76 – 90 Link Drive,

Campbellfield25

16 – 28 Transport

Drive, Somerton18

151 – 155 Woodlands

Drive, Braeside21

41 – 45 Hydrive Close,

Dandenong South24

Melbourne, Victoria