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2012/13 THIRD QUARTER FINANCIAL STATEMENT ANNOUNCEMENT

Asymmetric and flawed incentives that favor risk hiding in the tails. There were three primary flaws in the compensation methods that led to artificial earnings and not adequately and appropriately risk-adjusted compensation. They are a) asymmetric payoff: upside, limited, or no economic downside (a free or underpriced option); b) flawed frequency: annual compensation for risks that blow-up every few years, with absence of claw-back provisions; and c) misattribution: compensation for returns that are an attribute of the market (e.g. incentive fees that do not control for market beta or baseline risk premia), or an attribute of the organiza- tion (compensation for. | mapleĩree logistics Constituted in the Republic of Singapore pursuant to a Trust Deed dated 5 July 2004 as amended 2012 13 THIRD QUARTER FINANCIAL STATEMENT ANNOUNCEMENT TABLE OF CONTENTS Item No. Description Page No. - Summary of Mapletree Logistics Trust Group Results 2 - Introduction 2 1 a Statement of Total Return 3 - 6 1 b i Balance Sheet 7 - 8 1 b ii Aggregate Amount of Borrowings and Debt Securities 7 - 8 1 c Cash Flow Statement 9 - 10 1d i Statements of Changes in Unitholders Funds 11 - 14 1d ii Details of Any Change in the Units 15 2 3 Audit Statement 15 4 5 Changes in Accounting Policies 15 - 16 6 Earnings Per Unit EPU and Distribution Per Unit DPU 17 7 Net Asset Value NAV Per Unit 17 8 Review of Performance 18 - 21 9 Variance from Previous Forecast Prospect Statement 21 10 Outlook Prospects 21 11 12 Distributions 22 - 23 13 General Mandate on Interested Person Transactions 23 14 Segmented revenue and results 24 - 25 15 Confirmation by the Board 25 Page 1 of 25 MAPLETREE LOGISTICS TRUST 2012 13 THIRD QUARTER FINANCIAL STATEMENT ANNOUNCEMENT 3 mths ended 31 Dec 2012 1 3 mths ended 31 Dec 2011 1 Gross Revenue S 000 77 412 71 882 Net Property Income S 000 67 549 61 570 Amount Distributable S 000 46 510 41 324 - to Perpetual Securities holders 4 742 - - to Unitholders 41 768 41 324 Available Distribution per Unit cents 1.72 1.70 2 Footnotes 1. Qtr ended 31 December 2012 started and ended with 110 properties. Qtr ended 31 December 2011 started and ended with 98 properties. 2. This included 0.03 cents gains from the divestment of 9 Tampines and 39 Tampines spread over 3 quarters from 3Q 2011 onwards . INTRODUCTION Mapletree Logistics Trust s MLT focus is to invest in a diversified portfolio of quality income-producing logistics real estate and real estate-related assets in Asia that would provide its Unitholders with a stable distribution stream. MLT s initial IPO portfolio comprised 15 Singapore-based properties with a total book value of S 422 million as at .