Mapletree Logistics Trust (M44U) Investor presentation summary

Operating performance

• 2Q FY26/27 gross revenue S$180.0m (+1.4% YoY), NPI S$154.8m (+1.0%) and distributable amount S$101.0m (+2.8%).

• Available DPU was 1.816 cents (+0.1% YoY); unitholder distributions rose 0.9% to S$93.3m as distributions to perpetual securities holders increased 33.6%.

• 1H FY26/27 revenue was S$358.9m (+1.1% YoY), NPI S$311.2m (+1.5%) and DPU 3.632 cents (+0.1%).

Portfolio and leasing

• Portfolio comprised 172 properties across nine markets, with S$13.1bn AUM, ~8.1m sqm GFA, 96.4% occupancy and 2.5-year WALE at 30 September 2026.

• 2Q rental reversion was +2.1%, or +4.2% excluding China, versus +0.9% and +2.3% respectively in 1Q FY26/27.

• Developed markets represented ~70% of portfolio value and revenue; ~85% of revenue came from tenants serving domestic distribution.

• A diversified base of 985 tenants served mainly consumer-related sectors; the top 10 tenants contributed 19.9% of gross revenue.

Capital management and recycling

• Aggregate leverage declined to 37.5% from 40.5% QoQ; debt was S$5.125bn, borrowing cost 2.7% and average debt duration 3.4 years. FY26/27 borrowing cost guidance was 2.7%-2.8%.

• 90% of debt was hedged or fixed-rate; 74% of next-12-month distributable income was hedged into or derived in SGD.

• FY26/27 YTD divestments totalled ~S$243m at a 3.1% average premium to valuation.

• Issued S$400m of 3.5% perpetual securities and a maiden CNY500m offshore bond at 2.1% (~S$95.2m) to diversify funding sources.