Mapletree National Industrial Portfolio

HIGHLY ADVANTAGEOUS GEOGRAPHIC DIVERSIFICATION

The Portfolio features key geographic diversity including primary logistics and distribution markets:

• Gateway I-95 Northeastern markets such as Northern New Jersey and Philadelphia (22% of Total SF)
• Keystone Southeastern exposure with substantial Atlanta presence (31% of Total SF)
• Opportunity to capitalize on enduring Florida fundamentals with diverse statewide positions including South Florida, Tampa and Jacksonville (33% of Total SF)
• Anchored by core Texas product in Dallas/Fort-Worth metro area (14% of Total SF)

SUBSTANTIAL VALUE CREATION UPSIDE VIA MARK-TO-MARKET

• Portfolio is currently 91.5% leased with 3.3 years of WALT, providing a quick-trigger avenue to grow NOI as twothirds of Portfolio square footage rolls within five (5) years.
• Critical future value creation strategy via mark-to-market of in-place rents approximately 28.1% below market within high-growth, infill multi-tenant product.
• Staggered rollover schedule in which no more than 19% of leases expire in any given year, limiting downside exposure in any given year while allowing ownership to steadily grow cash flow.

OPPORTUNITY TO ACQUIRE CRITICAL MASS OF INFILL SHALLOW-BAY ASSETS

• Comprising 1.8 million square feet across 30 assets in multiple fundamentally-robust markets, the Portfolio represents a rare opportunity to establish a national footprint in high-performing infill shallow-bay logistics product.
• Heightened replacement costs for infill product increase rarity factor - hard cost escalations combined with increasingly scarce bulk developable land sites continue to govern infill supply.
• Heightened replacement costs for small-format infill logistics facilities increase rarity factor of the Portfolio and provide highly advantageous acquisition basis at significant discount to duplication.
• Protracted hard cost escalations combined with increasingly scarce well-located infill development sites in the Portfolio markets continues to govern competing future supply.

FUNCTIONAL MULTI-TENANT LOGISTICS PRODUCT

• The Infill Growth Industrial Portfolio sports a multitude of sought-after design characteristics that present an ideal profile for future leasing optionality.
• 91% concentration of multi-tenant assets with limited presence of freestanding single-tenant facilities.
• Predominantly rear-load configurations with a total of 122 suites across the total footprint.
• 23’ average clear height (minimum 18’) with appropriate 27% office finish.