Mapletree Industrial Trust · SGX:ME8U
Mapletree Industrial Trust — Q2 2027 Earnings Presentation
29 slides from Mapletree Industrial Trust's earnings presentation, Oct 28, 2026
Slide 1: 2Q & 1HFY26/27 Financial Results
2Q & 1HFY26/27 Financial Results 27 October 2026
Slide 2: Important Notice
Important Notice This presentation shall be read in conjunction with Mapletree Industrial Trust’s (“MIT”) financial results for Second Quarter Financial Year 2026/2027 in the SGXNET announcement dated 27 October 2026. This presentation is for information only and does not constitute an offer or soli
Slide 3: Contents
Contents 01 Key Highlights – 1 Jul 2026 to 30 Sep 2026 02 2Q & 1HFY26/27 Financial Performance 03 Portfolio Update 04 Outlook 3
Slide 4: Key Highlights 1 Jul 2026 to 30 Sep 2026
KEY HIGHLIGHTS 1 JUL 2026 TO 30 SEP 2026 Data Centres, 13831 Katy Freeway, Houston
Slide 5: 2QFY26/27 Results Highlights
2QFY26/27 Results Highlights • Lower contribution from North American Portfolio, absence of income from the Singapore Portfolio Divestment and impact of replacement interest rate swaps weighed on DPU ▪ 2QFY26/27 Net Property Income: S$119.8 million ( 3.5% y-o-y) ▪ 2QFY26/27 Amount Available for Dist
Slide 6: 2Q & 1HFY26/27 Financial Performance
2Q & 1HFY26/27 FINANCIAL PERFORMANCE Hi-Tech Buildings and Business Space, build-to-suit project for HP
Slide 7: Comparison of 2QFY26/27 and 2QFY25/26
Comparison of 2QFY26/27 and 2QFY25/26 • Net property income decreased due to 2QFY26/27 2QFY25/26 Year-on-Year / () ▪ lower contributions from the North American (S$’000) (S$’000) (“NA”) Portfolio from non-renewal of leases and higher operating expenses; and Gross revenue 167,017 170,211 (1.9%) ▪
Slide 8: Comparison of 1HFY26/27 and 1HFY25/26
Comparison of 1HFY26/27 and 1HFY25/26 • Net property income decreased due to 1HFY26/27 1HFY25/26 Year-on-Year / () ▪ absence of income from the Singapore (S$’000) (S$’000) Portfolio Divestment; ▪ lower contributions from the NA Portfolio Gross revenue 329,324 346,093 (4.8%) with non-renewal of le
Slide 9: Comparison of 2QFY26/27 and 1QFY26/27
Comparison of 2QFY26/27 and 1QFY26/27 • Net property income decreased due to 2QFY26/27 1QFY26/27 Quarter-on-Quarter / () ▪ non-renewal of lease at NA Portfolio; and (S$’000) (S$’000) ▪ higher property operating expenses from the SG Portfolio; Gross revenue 167,017 162,307 2.9% ▪ partially offset
Slide 10: Statement of Financial Position
Statement of Financial Position 30 Sep 2026 31 Mar 2026 / () Total assets (S$ million) 7,967.6 7,938.6 0.4% Total liabilities (S$ million) 3,034.0 2,692.6 12.7% Net assets attributable to Unitholders 4,633.8 4,642.7 (0.2%) (S$ million) Net asset value per Unit (S$)1 1.62 1.63 (0.6%) 1 Net tangibl
Slide 11: Strong Balance Sheet
Strong Balance Sheet Including MIT’s proportionate share of joint venture 30 Sep 2026 30 Jun 2026 Total borrowings S$3,105.1 million S$3,084.8 million Weighted average tenor of debt 3.5 years 3.4 years Aggregate leverage ratio 37.7% 37.5% Interest rate hedge ratio 72.7% 73.3% Weighted average hedge
Slide 12: Well Distributed Debt Maturity Profile
Well Distributed Debt Maturity Profile DEBT MATURITY PROFILE1 As at 30 September 2026 Total borrowings outstanding (S$ million) DEBT CURRENCY PROFILE1 As at 30 September 2026 27% 47.6 23% 20% 106.7 18.0% 95.3 0.3% 805.6 10% 601.2 7% 540.1 169.0 18.2% 104.8 4% 4% 3% 63.5% 60.9 125.0 139.8 123.4 2% 50
Slide 13: Interest Rate and Forex Risk Management
Interest Rate and Forex Risk Management INTEREST RATE RISK MANAGEMENT FOREX RISK MANAGEMENT • About 72.7% of total debt is hedged or drawn in fixed • Draw local currency loans to provide natural hedge rates • About 90.8% 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 134 Properties
Diverse Portfolio of 134 Properties S$8.3 billion1 23.6 million2 >2,000 tenants AUM NLA (sq ft) Tenant Base Data Centres: 57.1% Data Centres • North America: 46.1% • Japan: 7.4% • Singapore: 3.6% General Industrial Buildings 24.4% Data Centres Hi-Tech Buildings and Business Space AUM1 S$8.3 billion
Slide 16: Portfolio Overview
Portfolio Overview Singapore North American Japan Overall Portfolio Portfolio Portfolio Portfolio Number of properties 79 53 2 134 NLA (million sq ft) 15.1 8.01 0.5 23.61 Occupancy (%) 2QFY26/27 94.2 79.1 100.0 89.72 1QFY26/27 94.3 82.5 100.0 90.72 Average rental rate (psf/mth) S$2.28 US$2.54 - - SE
Slide 17: Lease Expiry Profile
Lease Expiry Profile EXPIRING LEASES BY GROSS RENTAL INCOME1 As at 30 September 2026 WALE based on date of commencement of leases (years)2 As at 30 Sep 2026 2025 North American Portfolio 6.7 6.2 Singapore Portfolio 2.6 2.8 35.9% Japan Portfolio 13.3 14.2 Overall Portfolio1 4.4 4.6 20.8% 16.2% 14.0%
Slide 18: Proactive Asset Management
Proactive Asset Management Managing the impact of vacancies in North American Portfolio • Near-term renewal and reletting actions, and completion of initial renewal cycles for most enterprise leases, provide greater certainty, underpinned by North American Portfolio WALE of 6.7 years • Diversified p
Slide 19: Large and Diversified Tenant Base
Large and Diversified Tenant Base TOP 10 TENANTS BY GROSS RENTAL INCOME1 As at 30 September 2026 6.8% • Over 2,000 tenants • Largest tenant contributes 6.8% of Portfolio’s Gross Rental Income • Top 10 tenants forms about 28.7% of Portfolio’s Gross Rental Income 4.1% 3.5% 3.2% 2.6% 2.5% 1.7% 1.5% 1.4
Slide 20: 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 30 Sep 2026 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 21: Positive Rental Reversions
Positive Rental Reversions 2QFY26/27 2QFY26/27 1QFY26/27 Renewal leases Number of rental rental (sq ft) renewals reversion rate1 reversion rate1 North American Portfolio - - N.A.2 2.2% Singapore Portfolio 639,761 184 6.9% 5.3% Hi-Tech Buildings and Business Space 39,651 17 3.7% 3.0% General Industri
Slide 22: Diversified Mix of Data Centres
Diversified Mix of Data Centres • About 75.3% 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 LEASE TYPES FOR SPLIT BETWEEN TENANT TYPES
Slide 23: Divestment – Eagan Data Centre
Divestment – Eagan Data Centre Exercise of Option to Purchase by Tenant A single-storey building in Eagan, Description Minnesota 3255 Neil Armstrong Boulevard, Address Eagan, Minnesota NLA 87,402 sq ft Sale Price US$9.81 million1 Purchase Price US$9.0 million2 US$10.9 million3 Valuation (as at 31 Ma
Slide 24: Building a Climate-resilient Portfolio
Building a Climate-resilient Portfolio Long-term Targets by FY29/30 15% 17% 30% Average Building Average Building Scope 2 GHG Install EV Charging Points for Electricity Intensity1 Emissions Intensity1 Singapore Portfolio2 2QFY26/27 Achievements Achieved ‘A’ for 204 trees planted Attained BCA Green G
Slide 25: Outlook
Data Centres, OUTLOOK 2601 West Broadway Road, Tempe
Slide 26: Outlook
Outlook Challenging operating environment in view of global uncertainties • Global activity in the first half of 2026 (“1H2026”) held up better than expected despite the protracted war in the Middle East and continuing strains from trade tensions. The technology cycle provided a demand impulse, driv
Slide 27: Outlook
Outlook North America • According to CBRE4, total under construction data centre capacity across primary markets in North America increased by almost 25% y-o-y in 1H2026 to a record high of 7,481 megawatts (“MW”), of which 80.4% has been preleased. While total supply has grown by 33% y-o-y to reach
Slide 28: Strategic Direction for Sustainable Returns
Strategic Direction for Sustainable Returns • Target divestments of S$500 million to S$600 million Proactive Portfolio in North America Rejuvenation • Explore opportunities across a broader range of industrial and data centre sectors • Use divestment proceeds for interim debt repayment and create he
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
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