Acquisition of 30 Way and 22A Benoi Road, 18 March 2008 506002si_2 Jul.ppt Agenda

 Details of the properties:

 30 Boon Lay Way Singapore 609957

 22A Benoi Road Singapore 629893

 Impact on MapletreeLog

 Acquisitions are DPU-accretive

 Tenant concentration

 Asset mix

 Average lease duration

 Unexpired lease of underlying land

 Geographical allocation of portfolio

1 1 506002si_2 Jul.ppt 30 Boon Lay Way

 Purchase Price : S$48.0 million

 Valuation: S$ 48.6 million by Chesterton International Property Consultants Pte Ltd on 5 March 2008

 Land tenure: 30 + 15 yrs, expiring in July 2034

 Land area : 38,936 sqm (approx.) GFA : 37,201 sqm (approx.) Lettable area : 37,201 sqm (approx.)

 Lessee : Cougar Express Logistics Pte Ltd., a wholly owned subsidiary of Cougar Holdings The property comprises a two-storey Pte Ltd. warehouse with a four-storey office building. It is located in the vicinity of the International  Lease terms : 10 years with option to extend for Business Park. It is easily accessible via the further 5 year periods Ayer-Rajah Expressway and is within close proximity to the Port as well as Jurong  Outgoings: Tenant bears property tax, land rent Industrial Estate. and property maintenance expenses

2 2 506002si_2 Jul.ppt 22A Benoi Road

 Purchase Price : S$7.6million

 Valuation : S$7.8 million by Chesterton International Property Consultants Pte Ltd on 5 March 2008

 Land tenure: 30 + 20 years, expiring in February 2030

 Land area : 10,489 sqm (approx.) GFA : 6,948 sqm (approx.) Lettable area : 6,948 sqm (approx.)

 Lessee : Cougar Express Logistics Pte Ltd. The property comprises two blocks of single- storey warehouse with a two-storey office  Lease terms : 10 years with option to extend for block. further 5 year periods It is located along Benoi Road, off Pioneer Road. The surrounding area consists of  Outgoings: Tenant bears property tax, land rent industrial and engineering facilities. The and property maintenance expenses property is easily accessible via the and is within close proximity to the Jurong Port and the Jurong Industrial Estate.

3 3 506002si_2 Jul.ppt Acquisitions are DPU-accretive

30 Boon Lay Way

Total Return (over 10 years) 8.0%

DPU impact 1 0.11 Singapore cents (proforma annualised impact)

1. Assuming MapletreeLog had purchased, held and operated the properties for the whole of the financial year ended 31 December 2007 (based on 70 properties) and that the acquisitions are fully funded by debt

4 4 506002si_2 Jul.ppt Acquisitions are DPU-accretive

22A Benoi Road

Total Return (over 10 years) 7.8%

DPU impact 1 0.02 Singapore cents (proforma annualised impact)

1. Assuming MapletreeLog had purchased, held and operated the properties for the whole of the financial year ended 31 December 2007 (based on 70 properties) and that the acquisitions are fully funded by debt

5 5 506002si_2 Jul.ppt Better Tenant Diversification

Top 10 Tenants of the Entire Portfolio by Grossenue Rev for the Month of December 2007

Pre-acquisition Post-acquisition 5%

4.5% 5% 4.3%

4% 3.7% 3.6% 3.5% 3.5% 3.4% 4% 3.1% 3.0% 3% 2.6% 2.6% 2.3% 3% 2.2% 1.9% 2% 1.9% 1.7% 1.6% 1.4% 2% 1.4% 1.4%

1%

1%

0% Ever Gain Group Teckwah Industrial M enlo NECcs LogistiLtd Nichirei Kyoto Kanto propertyVopak Terminals Fu Yu Corporation Sealogistics Pte ISH tenant Ltd

Pre-Acquisition (portfolio of 78 properties, including announced acquisitions) Post-Acquisition (portfolio of 80 properties, including announced acquisitions, 30 Boon Lay Way and 22A Benoi Road)

6 6 506002si_2 Jul.ppt Asset mix Before the acquisition After the acquisition

Gross Revenue Contribution by Trade (Pre-Acquisition) Gross Revenue Contribution by Trade (Post-Acquisition)

Oil & Chemical Oil & Chemical Logistics Logistics 3.6% Industrial FTZ 3PL Industrial FTZ 3PL 3.5% Warehousing Warehousing 6.1% 6.0% 13.5% 13.2%

Distribution Centre 23.6%

Distribution Centre Non-FTZ 3PL Non-FTZ 3PL 24.1% 47.4% 48.5% Food & Cold Storage 5.2% Food & Cold Storage 5.3%

(1) Pre-Acquisition (portfolio of 78 properties, including announced acquisitions); Post-Acquisition (portfolio of 80 properties, including announced acquisitions, 30 Boon Lay Way and 22A Benoi Road ) (2) 30 Boon Lay Way & 22A Benoi Road have been classified under the “Non FTZ 3PL” category (3) The charts’ Gross Revenue figures are computed for the month of December 2007, assuming that all new acquisitions announced after September 2007 have contributed to the total gross revenue for the month

7 7 506002si_2 Jul.ppt Average lease duration

Lease Expiry Profile by Gross Revenue (for the Month of December 2007)

50% Pre-Acquisition Post-Acquisition 43.5% 45% 42.3%

40%

35%

30%

25% 18.9% 20% 18.5% 13.6% 15% 13.3% 9.1% 10% 8.9% 7.8% 7.6% 7.4% 7.3%

5%

0% Expiring in 2008 Expiring in 2009 Expiring in 2010 Exp iring in 2011 Expiring in 2012 Expiring after 2012

Pre-Acquisition Post-Acquisition (78 properties) (80 properties including 30 Boon Lay Way and 22A Benoi Road) Weighted average lease term to expiry 5.8 years 5.9 years

8 8 506002si_2 Jul.ppt Unexpired lease of underlying land

Remaining Years to Expiry of Underlying Land Lease

Pre-Acquisition Post-acquisition 45% 42.5% 41.6% 40% 35%

30% 28.8% 28.2% 25% 20% 15.3% 15.0% 15%

10% 7.3% 7.4% 7.2% 5.4% % of Total% Lettable Area 5% 0.6% 0.6% 0% 0 - 20 yrs 21 - 30 yrs 31 - 40 yrs 41 - 50 yrs 51 - 60 yrs > 60 yrs

Pre-Acquisition Post-Acquisition (78 properties) (80 properties including 30 Boon Lay Way and 22A Benoi Road) Weighted average of unexpired lease term of 163.2 years 160.6 years underlying land

For purposes of computation, land tenure for all the freehold properties is assumed to be 999 years

9 9 506002si_2 Jul.ppt Geographical allocation of portfolio

Before the acquisition After the acquisition

Country Allocation - By Gross Revenue Country Allocation - By Gross Revenue (Pre-Acquisition) (Post-Acquisition) Japan South Korea Japan South Korea 14% 1% 14% 1%

Malaysia Malaysia 6% 6% Singapore Singapore 51% China 52% China 6% 6%

Hong Kong Hong Kong 22% 21%

(1) Pre-Acquisition (portfolio of 78 properties, including announced acquisitions); Post-Acquisition (portfolio of 80 properties, including announced acquisitions, 30 Boon Lay Way and 22A Benoi Road) (2) The charts’ Gross Revenue figures are computed for the month of December 2007, assuming that all new acquisitions announced after December 2007 have contributed to the total gross revenue for the month

10 10 506002si_2 Jul.ppt Disclaimer

The value of units in MapletreeLog (“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. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of MapletreeLog is not necessarily indicative of its future performance.

This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representatives examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the 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, which are based on current view of management on future events.

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