Mapletree Industrial Trust · SGX:ME8U
Mapletree Industrial Trust — 3QFY25/26 Earnings Presentation
29 slides from Mapletree Industrial Trust's earnings presentation, Jan 28, 2026
Slide 1: 3QFY25/26 Financial Results
3QFY25/26 Financial Results 28 January 2026
Slide 2: Important Notice
Important Notice This presentation shall be read in conjunction with Mapletree Industrial Trust’s (“MIT”) financial results for Third Quarter Financial Year 2025/2026 in the SGXNET announcement dated 28 January 2026. This presentation is for information only and does not constitute an offer or solic
Slide 3: Contents
Contents 01 Key Highlights – 1 Oct 2025 to 31 Dec 2025 02 3QFY25/26 Financial Performance 03 Portfolio Update 04 Outlook 3
Slide 4: Key Highlights 1 Oct 2025 to 31 Dec 2025
KEY HIGHLIGHTS 1 OCT 2025 TO 31 DEC 2025 Data Centres, 13831 Katy Freeway, Houston
Slide 5: 3QFY25/26 Results Highlights
3QFY25/26 Results Highlights Absence of one-off divestment gain and income from Singapore Portfolio Divestment as well as foreign exchange headwinds weighed on DPU • 3QFY25/26 Net Property Income: S$122.8 million ( 7.8% y-o-y) • 3QFY25/26 Distribution to Unitholders: S$90.5 million ( 6.9% y-o-y) •
Slide 6: 3QFY25/26 Financial Performance
3QFY25/26 FINANCIAL PERFORMANCE Hi-Tech Buildings and Business Space, build-to-suit project for HP
Slide 7: Comparison of 3QFY25/26 and 3QFY24/25
Comparison of 3QFY25/26 and 3QFY24/25 3QFY25/26 3QFY24/25 Net property income decreased due to Year-on-Year / () (S$’000) (S$’000) • absence of income from the divestment of three industrial properties in Singapore (“SG”) Gross revenue 163,139 177,311 (8.0%) completed in August 2025; • lower co
Slide 8: Comparison of YTD FY25/26 and YTD FY24/25
Comparison of YTD FY25/26 and YTD FY24/25 YTD FY25/26 YTD FY24/25 Net property income decreased due to Year-on-Year / () (S$’000) (S$’000) • absence of income from the divestment of three industrial properties in SG; Gross revenue 509,232 534,035 (4.6%) • lower contributions from the NA Portfol
Slide 9: Comparison of 3QFY25/26 and 2QFY25/26
Comparison of 3QFY25/26 and 2QFY25/26 3QFY25/26 2QFY25/26 Net property income decreased due to Quarter-on-Quarter / () (S$’000) (S$’000) • full quarter impact of absence of income from the divestment of three industrial properties in Gross revenue 163,139 170,211 (4.2%) SG and non-renewal of le
Slide 10: Statement of Financial Position
Statement of Financial Position 31 Dec 2025 31 Mar 2025 / () Total assets (S$ million) 8,119.4 8,800.2 (7.7%) Total liabilities (S$ million) 3,003.5 3,607.7 (16.7%) Net assets attributable to Unitholders 4,813.8 4,887.7 (1.5%) (S$ million) Net asset value per Unit (S$)1 1.69 1.71 (1.2%) 1 Net tan
Slide 11: Strong Balance Sheet
Strong Balance Sheet Including MIT’s proportionate share of joint venture 31 Dec 2025 30 Sep 2025 Total borrowings S$3,124.6 million S$3,134.3 million Weighted average tenor of debt 2.9 years 3.0 years Aggregate leverage ratio 37.2% 37.3% Interest rate hedge ratio 88.6% 92.9% Weighted average hedge
Slide 12: Well Distributed Debt Maturity Profile
Well Distributed Debt Maturity Profile DEBT MATURITY PROFILE1 As at 31 December 2025 Total borrowings outstanding (S$ million) DEBT CURRENCY PROFILE1 As at 31 December 2025 25% 18.0% 48.4 21% 0.3% 96.9 17% 15% 183.5 13.0% 723.4 9% 477.9 581.9 106.6 243.5 68.7% 54.8 4% 4% 3% JPY CAD SGD USD 125.0 96.
Slide 13: Interest Rate and Forex Risk Management
Interest Rate and Forex Risk Management INTEREST RATE RISK MANAGEMENT FOREX RISK MANAGEMENT About 88.6% of total debt is hedged or drawn in fixed Draw local currency loans to provide natural hedge rates About 91.4% of amount available for distribution in A 50 basis points change in base rate
Slide 14: Portfolio Update
PORTFOLIO UPDATE Hi-Tech Buildings and Business Space, Mapletree Hi-Tech Park @ Kallang Way
Slide 15: Diverse Portfolio of 136 Properties
Diverse Portfolio of 136 Properties S$8.5 billion1 23.9 million2 >2,000 tenants AUM NLA (sq ft) Tenant Base Data Centres: 58.3% Data Centres North America: 47.6% Japan: 7.2% Singapore: 3.5% General Industrial Buildings 23.6% Data Centres Hi-Tech Buildings and Business Space AUM1 S$8.5 billion Hi-
Slide 16: Active Portfolio Rebalancing
Active Portfolio Rebalancing 3 Asset Enhancement Initiatives (“AEI”) FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 S$8.9b S$9.1b 5 Build-to-Suit (“BTS”) S$8.8b S$8.8b Projects FY20/21 7 Divestments1 S$6.8b FY19/20 11 Acquisitions S$5.9b Acquisition Acquisition FY18/19 29 US DCs Osaka Data FY17/18 S$4.8b U
Slide 17: Portfolio Overview
Portfolio Overview Singapore North American Japan Overall Portfolio Portfolio Portfolio Portfolio Number of properties 79 55 2 136 NLA (million sq ft) 15.1 8.31 0.5 23.91 Occupancy (%) 3QFY25/26 93.0 87.5 100.0 91.42 2QFY25/26 92.6 87.8 100.0 91.32 Average rental rate (psf/mth) S$2.25 US$2.45 - - SE
Slide 18: Lease Expiry Profile
Lease Expiry Profile EXPIRING LEASES BY GROSS RENTAL INCOME1 As at 31 December 2025 WALE based on date of commencement of leases (years)2 North American Portfolio 6.2 Singapore Portfolio 2.8 Japan Portfolio 14.0 38.0% Overall Portfolio1 4.5 4 19.7% 18.7% 15.0% 3 5.7% 2.9% FY25/26 FY26/27 FY27/28 FY2
Slide 19: Proactive Asset Management
Proactive Asset Management Managing the impact of vacancies in North American data centres Properties are located predominantly in primary data centre markets in North America Stability of Singapore and Japan Portfolio cushions headwinds from North American Portfolio RELETTING REPOSITIONING REBA
Slide 20: Large and Diversified Tenant Base
Large and Diversified Tenant Base TOP 10 TENANTS BY GROSS RENTAL INCOME1 As at 31 December 2025 6.5% Over 2,000 tenants Largest tenant contributes 6.5% of Portfolio’s Gross Rental Income Top 10 tenants forms about 30.5% of Portfolio’s Gross Rental Income 4.7%3 4.3% 3.1% 4 2.5% 2.5% 2.4% 1.7% 1
Slide 21: Tenant Diversification Across Trade Sectors
Tenant Diversification Across Trade Sectors1 No single trade sector accounted >16% of Portfolio’s Gross Rental Income By Gross Rental Income As at 31 Dec 2025 1 Includes MIT’s 50% interest of the joint venture with MIPL in three fully fitted hyperscale data centres and 10 powered shell data centres
Slide 22: Diversified Mix of Data Centres
Diversified Mix of Data Centres About 74.6% of MIT’s Data Centre Portfolio are on triple net lease structures whereby the majority of outgoings1 are borne by the tenants Good mix of powered shell, fitted and fitted hyperscale data centres SPLIT BETWEEN TENANT TYPES FOR SPLIT BETWEEN LEASE TYPES
Slide 23: Rental Reversions (Singapore)
Rental Reversions (Singapore) 3QFY25/26 3QFY25/26 rental 2QFY25/26 rental Renewal leases Number of reversion rate1 reversion rate1 (sq ft) renewals Hi-Tech Buildings and 29,955 10 7.0% -1.6% Business Space General Industrial 626,550 174 7.4% 8.0% Buildings Portfolio weighted average 7.1% 6.2% rental
Slide 24: Building a Climate-resilient Portfolio
Building a Climate-resilient Portfolio Long-term Targets by FY29/30 15% 17% 10,000 kWp Average Building Average Building Scope 2 GHG Total Solar Energy Electricity Intensity1 Emissions Intensity1 Generating Capacity YTD FY25/26 Achievements Attained WELL Health-Safety Awarded 2025 Green Attained CAS
Slide 25: Outlook
Data Centres, OUTLOOK 2601 West Broadway Road, Tempe
Slide 26: Outlook
Outlook Challenging operating environment in view of global uncertainties Global growth is projected to moderate from 3.2% in 2025 to 2.9% in 2026, as higher tariffs in the United States and China raise business costs, reducing growth in trade and investment. For 2027, a small rebound in growth is
Slide 27: Outlook
Outlook North America • According to CBRE4, artificial intelligence (“AI”) companies are driving strong demand for high- capacity data centres in North America, with some hyperscale campuses planning over 1 gigawatt (“GW”) of power on a single site. Despite a 43% increase in supply, primary markets’
Slide 28: Strategic Direction for Sustainable Returns
Strategic Direction for Sustainable Returns Target selective divestments of S$500 million to Proactive Portfolio S$600 million in North America Rejuvenation Redeploy capital into high-quality data centres in key markets across Asia Pacific and Europe Drive forward lease renewals and lease exec
Slide 29: End of Presentation
End of Presentation For enquiries, please contact Ms Cheng Mui Lian, Vice President, Investor Relations and Sustainability DID: (65) 6377 4536, Email: cheng.muilian@mapletree.com.sg
Mapletree Industrial Trust — 3QFY25/26 Earnings Presentation on 6ix