(Constituted in the Republic of Singapore pursuant

to a Trust Deed dated 11 February 2010 as amended and restated)

FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER

AND NINE MONTHS ENDED 30 SEPTEMBER 2021

On 15 October 2021, the respective boards of directors of ARA LOGOS Logistics Trust Management Limited, as manager of ARA LOGOS Logistics Trust ("ALOG") and ESR Funds Management (S) Limited, as manager of ESR-REIT announced the proposed merger (the "Merger") of ALOG and ESR-REIT. In view of the Merger, the below financial highlights of ALOG and its subsidiaries (the "Group") for the third quarter ("3Q2021") and nine months ("9M2021") ended 30 September 2021 and the accompanying reports from the auditor and independent financial adviser of ALOG have been prepared and provided to ALOG Unitholders solely for the purpose of complying with the Singapore Code on Take-overs and Mergers.

Summary of the Group's Results

3Q2021

3Q2020

9M2021

9M2020

S$'000

S$'000

S$'000

S$'000

Gross revenue

33,967

29,517

100,519

87,302

22,899

66,820

Net property income

26,093

77,508

Total return before income tax

70,968

16,849

251,939

41,448

Total return after income tax

39,749

16,128

219,029

39,768

Attributable to:

39,749

16,128

219,029

39,768

Unitholders and perpetual securities

holders

(1,387)

(1,387)

(4,114)

(4,129)

Less: Amount reserved for distribution to

perpetual securities holders

8,977

5,756

26,416

15,603

Add: Tax exempt income, before

distribution adjustments

(28,879)

(5,532)

(188,885)

(8,958)

Add:

Distribution adjustments

849

-

1,437

-

Add:

Capital distribution

Amount available for distribution

19,309

14,965

53,883

42,284

Release / (retained) of distribution

-

1,000

-

(1,000)

Distribution declared to Unitholders

19,309

15,965

53,883

41,284

Cents

Cents

Cents

Cents

Declared distribution per unit

1.329

1.461

3.899

3.784

Basic earnings per unit

2.65

1.34(1)

15.57

3.25(1)

Diluted earnings per unit

2.64

1.34(1)

15.51

3.24(1)

  1. The figures have been restated for the effect of the bonus element of the preferential offering of 91,112,930 Units which were issued on 25 January 2021.

Summary of the Group's Financial Position

30 Sep 2021

31 Dec 2020

S$'000

S$'000

Non-current assets

2,008,844

1,356,384

Current assets

34,044

56,082

Total assets

2,042,888

1,412,466

Non-current liabilities

880,555

536,491

Current liabilities

78,267

95,883

Total liabilities

958,822

632,374

Net assets

1,084,066

780,092

Represented by:

-

Unitholders' funds

983,906

678,545

-

Perpetual securities holders' funds

100,160

101,547

1,084,066

780,092

Cents

Cents

Net asset value / Net tangible asset per unit

68

57

BY ORDER OF THE BOARD

ARA LOGOS Logistics Trust Management Limited (as manager of ARA LOGOS Logistics Trust) (Company Registration No. 200919331H)

Karen Lee

Chief Executive Officer

26 October 2021

RESPONSIBILITY STATEMENT

The directors of the ALOG Manager (including those who may have delegated detailed supervision of this press release) have taken all reasonable care to ensure that the facts stated and opinions expressed in this press release (other than those relating to ESR-REIT and/or the ESR-REIT Manager) are fair and accurate and that there are no other material facts not contained in this press release, the omission of which would make any statement in this press release misleading. The directors of the ALOG Manager jointly and severally accept responsibility accordingly.

Where any information has been extracted or reproduced from published or otherwise publicly available sources (including the announcement dated 4 August 2021 released by ESR Cayman Limited in relation to the merger between ESR Cayman Limited and ARA Asset Management) or obtained from a named source (including ESR- REIT and/or the ESR-REIT Manager), the sole responsibility of the directors of the ALOG Manager has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this press release. The directors of the ALOG Manager do not accept any responsibility for any information relating to ESR-REIT and/or the ESR-REIT Manager or any opinion expressed by ESR-REIT and/or the ESR-REIT Manager.

ABOUT ARA LOGOS LOGISTICS TRUST ("ALOG")

Listed on the Singapore Exchange on 12 April 2010, ARA LOGOS Logistics Trust ("ALOG") is a real estate investment trust ("REIT") that invests in quality income-producing industrial real estate used for logistics purposes, as well as real estate-related assets in the Asia Pacific. ALOG is managed by ARA LOGOS Logistics Trust Management Limited.

As at 30 September 2021, ALOG's portfolio comprises 29 high quality logistics warehouse properties strategically located in established logistics clusters in Singapore and Australia as well as 49.5% and 40.0% stakes in the New LAIVS Trust and Oxford Property Fund respectively. The portfolio has a total gross floor area of approximately 1.0 million square metres and is valued at approximately S$1.8 billion(1).

For more information, please visit https://www.aralogos-reit.com.

ABOUT ARA LOGOS LOGISTICS TRUST MANAGEMENT LIMITED

ALOG is managed by ARA LOGOS Logistics Trust Management Limited (the "Manager"), a wholly-owned subsidiary of LOGOS. ARA Asset Management Limited ("ARA" or the "Group") is a majority shareholder of LOGOS, which operates as ARA's global logistics real estate platform.

LOGOS is one of Asia Pacific's leading logistics property groups. It has total Assets Under Management ("AUM") of US$17 billion(2), comprising more than 9.0 million sqm of property owned and under development across 26 ventures, including ALOG. As a vertically integrated business, LOGOS manages every aspect of logistics real estate, from sourcing land or facilities, to undertaking development and asset management, on behalf of some of the world's leading global real estate investors.

ARA is the largest real assets manager in Asia Pacific with approximately US$95 billion(3) gross AUM by the Group and its associates. ARA Group operates a global platform with a focus on APAC, managing public and private investment funds that invest across traditional and New Economy real estate assets spanning office, logistics, retail, residential, hospitality, and data centers, as well as private real estate credit and infrastructure. ARA's vertically integrated business includes development and value-add asset management capabilities, an in-house capital raising team, and property management expertise in local markets where ARA invests and manages assets. With a resolute focus on creating sustainable value, ARA manages funds on behalf of many of the world's largest pension funds, sovereign wealth funds and financial institutions.

For more information on ARA and LOGOS, please visit https://www.ara-group.comand https://www.logosproperty.com.

  1. Portfolio value includes ALOG's 49.5% and 40.0% stakes in the New LAIVS Trust and Oxford Property Fund respectively.
  2. As of 30 September 2021, with June 2021 FX rates applied.
  3. Includes assets under management by ARA Asset Management Limited and the Group of companies ("ARA Group") and its Associates as at 30 June 2021, adjusted for LOGOS' acquisition of Moorebank Logistics Park announced on 5 July 2021.

For enquiries, please contact:

ARA LOGOS Logistics Trust Management Limited

Cassandra Seet

Senior Manager, Investor Relations

Tel: +65 6428 7769

Email:cassandraseet@ara-logos.com

IMPORTANT NOTICE

The value of units in ALOG ("Units") and the income derived from them, if any, may fall or rise. Units are not obligations of, deposits in, or guaranteed by, ARA LOGOS Logistics Trust Management Limited (as the manager of ALOG) (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 should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on Singapore Exchange Securities Trading Limited (the "SGX-ST"). It is intended that holders of Units may only deal in their Units through trading on the SGX-ST. The listing of the Units on the SGX- ST does not guarantee a liquid market for the Units. The past performance of ALOG is not necessarily indicative of the future performance of ALOG.

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ARA LOGOS Logistics Trust published this content on 26 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2021 02:55:06 UTC.