Frasers Logistics & Commercial Trust · SGX:BUOU

Frasers Logistics & Commercial Trust — FY2025 Earnings Presentation

48 slides from Frasers Logistics & Commercial Trust's earnings presentation, Nov 7, 2025

  1. Slide 1: FY2025 Results Presentation

    FY2025 Results Presentation 7 November 2025 Oberes Feld 2,4,6,8, © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved. Moosthenning, Germany

  2. Slide 2: Important Notice

    Important Notice This presentation is for information only and does not constitute or form part of an offer, solicitation, recommendation or invitation for the sale or purchase or subscription of securities, including units in Frasers Logistics & Commercial Trust (formerly known as Frasers Logistics

  3. Slide 3: Glossary

    Glossary Frasers Property Entities Key Currencies FLCT: Frasers Logistics & Commercial Trust AUD or A$: The official currency of Australia FPL or the Sponsor: Frasers Property Limited EUR or €: The official currency of the European Union The Group: Frasers Property Limited, together with its subsidi

  4. Slide 4: FY2025 Performance and Financial Overview

    FY2025 Performance and Financial Overview 78 & 88 Atlantic Drive, Keysborough, Victoria, © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved. Australia © Frasers Property Limited. All Rights Reserved.

  5. Slide 5: Performance Overview

    Performance Overview For the financial year ended 30 September 2025 (“FY2025”) 2HFY25 DPU WALE(2) Portfolio Reversion Aggregate Leverage GRESB 2.95 cents 4.8 years +29.5% 35.7% Global Sector Leader Average-on-Average Basis Debt headroom of S$507 Maintained 5-Star rating million for the ninth consecu

  6. Slide 6: Portfolio Overview

    Portfolio Overview Strategically located in five developed countries 113 S$6.9 billion 2.8 million sqm 5-Star No. of Properties Portfolio Value(1) Total Lettable Area GRESB-rated Breakdown by Asset Type and Geography(1) As at 30 L&I Commercial Total September 2025 No. of Properties 106 7 113 Busines

  7. Slide 7: Key Financial Highlights

    Key Financial Highlights Financial year ended 30 September 2025 Key Highlights Financial Highlights Change FY2025 FY2024 (S$’000) (%)  Higher Revenue and Adjusted Net Property Income due to:  Contributions from 2 Tuas South Link 1 from November 2024, full year Revenue 471,486 446,674 ▲ 5.6 contrib

  8. Slide 8: Key Financial Highlights

    Key Financial Highlights Second Half ended 30 September 2025 Key Highlights Financial Highlights Change 2HFY25 2HFY24  Higher Revenue and Adjusted Net Property Income due to: (S$’000) (%)  contributions from 2 Tuas South Link 1 from November 2024, improved overall Revenue 239,160 230,648 ▲ 3.7 con

  9. Slide 9: DPU Performance

    DPU Performance Building sustainable DPU foundation from a quality underlying portfolio with growth opportunities Distribution per Unit (Singapore cents) FY2024 Total: FY2025 Total: DPU Commentary: 6.80 5.95  Capital Distribution steadily reduced to 0.26 Singapore cents in 2HFY25 1HFY24 2HFY24 1HFY

  10. Slide 10: Balance Sheet Highlights

    Balance Sheet Highlights Aggregate leverage remains healthy  The value of investment properties increased by 0.9% from S$6,928 As at As at million as at 30 September 2024 to S$6,994 million as at 30 Balance Sheet (S$’000) 30 Sep 25 30 Sep 24 September 2025, mainly due to:  The completion of the ac

  11. Slide 11: Capital Management

    Capital Management As at 30 Sep 2025 Debt Maturity Profile (Total Gross Borrowings: S$2,513 million) Key Credit Metrics As at 30 Sep 25 (Quarterly Change)  S$237 million of undrawn committed facilities are currently available to meet the debt obligations due in FY2026 Aggregate Leverage 35.7% (▼ 1.

  12. Slide 12: Distribution Timetable

    Distribution Timetable For the 2HFY25 Distribution Period 2HFY25 Distribution Details Total distribution for the period from 1 April 2025 to 30 September 2025 was 2.95 Singapore cents, representing a full payout of 2HFY25 distributable income Distribution Timetable Distribution Period 1 Apr 2025 to

  13. Slide 13: Portfolio Updates

    Portfolio Updates Handelsweg 26, Zeewolde, © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved. The Netherlands © Frasers Property Limited. All Rights Reserved.

  14. Slide 14: Portfolio valuation as at September 2025

    Portfolio valuation as at 30 September 2025 Portfolio of 113 properties was valued at S$6.9 billion, up 0.5% compared to the carrying value Valuation Valuation Location Properties (local currency, million) (S$ million) Logistics & Industrial Australia 61 A$3,003.7 S$2,562.8 Germany 33 €1,187.6 S$1,7

  15. Slide 15: Portfolio valuation as at September 2025

    Portfolio valuation as at 30 September 2025 Logistics & Industrial  As at 30 September 2025, the 106 logistics & industrial properties were valued at S$5,153.1 million, up 1.5% on the carrying value of S$5,075.0 million • The 61 Australian properties were valued at A$3,003.7 million, up 2.9% on the

  16. Slide 16: Portfolio valuation as at September 2025

    Portfolio valuation as at 30 September 2025 Commercial  As at 30 September 2025, the 7 commercial properties were valued at S$1,704.5 million, down 2.3% on the carrying value of S$1,744.8 million • The 3 Australian properties were valued at A$656.2 million, down 0.9% on the carrying value of A$662.

  17. Slide 17: Leasing Summary

    Leasing Summary 4QFY25 Portfolio Reversion of +7.1%(1) translating into overall FY25 Portfolio Reversion of 5.0%(1) Reversion No. of Lettable Area Annual Reversion 4QFY25 WALE (incoming vs. Leases (sqm) Increment (average vs. average)(2) outgoing)(1) Logistics & Industrial Australia New South Wales

  18. Slide 18: Occupancy Review

    Occupancy Review As at 30 September 2025 95.1% Logistics & Industrial % of Portfolio Value(1) As at 30 Sep 25 As at 30 Jun 25 Portfolio Occupancy Rate Australia(2) 37.4% 100.0% 95.7% Europe 31.7% 100.0% 100.0% 99.7% 86.1% United Kingdom 3.9% 100.0% 100.0% Logistics & Industrial Commercial Singapore

  19. Slide 19: Well-Spread Lease Expiry Profile

    Well-Spread Lease Expiry Profile Focused on proactive lease renewals ahead of lease expiry and backfilling vacancies Portfolio Lease Expiry Profile by WALB as at 30 Sep 2025(1) Logistics & Industrial Commercial 4.5 years 83.1% WALB portfolio leases embedded with CPI-linked indexation or fixed 15.3%

  20. Slide 20: Well-Diversified Tenant Base

    Well-Diversified Tenant Base Top-10 tenants represent 26.3% of portfolio GRI with no single top 10 tenant contributing >5%; average WALE of 6.0 years Top 10 Portfolio Tenants by GRI(1) 4.7% Logistics & Industrial Commercial Six of FLCT’s top 10 tenants have leases in multiple buildings with varying

  21. Slide 21: Portfolio Tenant Composition

    Portfolio Tenant Composition Well-diversified tenant base with favourable exposure to resilient sectors Portfolio Tenant Sector Breakdown(1)(2) 3PL, Transport & Freight 32.5% 1.5% Materials & Industrials 15.9% 4.5% Consumer Discretionary 15.7% 3.3% ICT 69.9% 0.6% 5.2% of GRI contribution from L&I te

  22. Slide 22: Key FY2025 Projects

    Key FY2025 Projects ACQUISITION OF A PRIME LOGISTICS ASSET IN SINGAPORE DIVESTMENT OF 357 COLLINS STREET IN AUSTRALIA • Completed the acquisition of a S$140.3 million, DPU-accretive, • Strategic divestment of a non- prime logistics property at 2 Tuas South Link 1 in Nov 2024 core commercial asset fo

  23. Slide 23: Sustainability Highlights

    Sustainability Highlights Maxis Business Park, UK © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved. © Frasers Property Limited. All Rights Reserved.

  24. Slide 24: ESG Highlights

    ESG Highlights Continuing commitment to high ESG standards Our ESG Goals Certification Decarbonisation Achieve net-zero carbon across Scopes 1, 2 and 3 by 2050 >90% 19.7 MW Total solar Portfolio by GFA green-certified capacity across the FLCT 100% by GFA of new development or pursuing green certific

  25. Slide 25: Outlook and Key Themes

    Outlook and Key Themes Genfer Allee 6, © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved. Mainz Germany © Frasers Property Limited. All Rights Reserved.

  26. Slide 26: Key Trends & Developments

    Key Trends & Developments Influencing Our Operating Environment Location Preferences FLCT’s Approach Companies prioritising best-in-class assets in established locations amid supply chain optimisation and diversification • Focus on best-in-class assets with modern specifications in established logis

  27. Slide 27: Appendix: Market Information and Additional Portfolio Information

    Appendix: Market Information and Additional Portfolio Information © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  28. Slide 28: Market Information

    Market Information © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  29. Slide 29: Economic Indicators in Key Markets

    Economic Indicators in Key Markets 10-year bond CPI Annual E-commerce Interest Rate(2) yield Country Sequential GDP Unemployment Rate Movement growth rate (3-month change) (3-month (12-month change) change) +0.6% for 2Q2025 +4.2% in Aug 25 +21.87% CAGR +3.2% to Sep 25 3.575% 3-month BBSW Rate 4.292%

  30. Slide 30: Operating Environment in Australia

    Operating Environment in Australia Market Overview Industrial and Commercial Market Overview(1) Industrial Prime Grade Net Face Rent Prime CBD Office Net Face Rent (A$/sqm/yr) (A$/sqm/yr) Brisbane Melbourne Sydney (Outer Central West) $800 Perth $270 $250 $750 $230 $212 $229 (+8.0% y-o-y) $210 $700

  31. Slide 31: Australian Industrial Market: Sydney

    Australian Industrial Market Sydney Sydney Industrial Total Supply  Supply: Nine projects reached practical completion over the quarter, 1,400 adding 150,200 sqm of new stock to the Sydney market. New completions 1,200 were approximately 9.1% below the 10-year quarterly average of 165,300 sqm. The

  32. Slide 32: Australian Industrial Market: Melbourne

    Australian Industrial Market Melbourne Industrial Total Supply Melbourne 1,200  Supply: Eleven projects completed in Q3 2025, adding 177,800 sqm to Melbourne's market, 3% below the 10-year quarterly average of 185,700 1,000 10-year Annual Average of 743,000 sqm sqm. The West precinct received most

  33. Slide 33: Australian Industrial Market: Brisbane

    Australian Industrial Market Brisbane Brisbane Industrial Total Supply  Supply: Eight projects reached completion in Q3 2025, delivering a total of 900 48,600 sqm of industrial space. New stock delivery was approximately 51% 800 below the 10-year quarterly average of 98,200 sqm, with 75.4% of under

  34. Slide 34: Australian Commercial Market: Perth CBD Office

    Australian Commercial Market Perth CBD Office Perth CBD Office Total Supply  Supply: No new projects were completed in Q3 2025, with year-to-date 160 completions at approximately 35,400 sqm. The largest completion in 2025 140 was Brookfield’s development of Nine The Esplanade, a 19-storey tower 120

  35. Slide 35: Operating Environment in Germany

    Operating Environment in Germany German Industrial Market Overview  Net completions fell 12.3% quarter-on-quarter in Q2 2025 to 862,800 sqm and declined 11.8% year-on-year. However, H1 2025 net completions totalled 1.8 million Germany Net Take-up and Prime Rents sqm, marking a 6.7% increase over H1

  36. Slide 36: Operating Environment in The Netherlands

    Operating Environment in The Netherlands Dutch Industrial Market Overview  In Q2 2025, net completions totalled c. 248,700 sqm, a 25.8% quarter-on-quarter and 33.1% year-on-year decline. In H1 2025, net completions fell 35.7% to 584,000 sqm compared to H1 2024. Dutch Net Take-up and Prime Rents  N

  37. Slide 37: Operating Environment in UK

    Operating Environment in UK Market Overview South East Commercial Market Overview(1)  In Q2 2025, South East market take-up fell 21% quarter-on-quarter to 598,800 sq ft (for units above 10,000 sq ft), bringing the H1 2025 total to 1.4 million sq ft, the highest since 2019 and a 3% increase from H1

  38. Slide 38: Operating Environment in Singapore

    Operating Environment in Singapore Singapore Business Park Market Overview(1)  Supply: No new projects were completed in Q3 2025. Subsequent new supply is expected in Q1 2026 when construction of 27 IBP is expected Singapore Business Park Rents(2) to complete. Thereafter, supply could contract furt

  39. Slide 39: Operating Environment in Singapore

    Operating Environment in Singapore Singapore Industrial Market Overview(1)  Supply: Over 5.0 million sq ft of new prime logistics space was completed in the first three quarters of 2025, of which more than 80% is now committed. Prime logistics supply is expected Singapore Industrial (Warehouse) Ren

  40. Slide 40: Key Cost Considerations for Logistics Occupiers

    Key Cost Considerations for Logistics Occupiers Assets with strong connectivity to transport infrastructure and closer to consumers allow occupiers to reduce their highest logistics costs Transportation 45 – 70% Labour & Operations 15 – 25% With transportation representing up to 70% of total logisti

  41. Slide 41: Additional Portfolio Information

    Additional Portfolio Information © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  42. Slide 42: Portfolio Overview – Logistics & Industrial

    Portfolio Overview – Logistics & Industrial Benefiting from tight market conditions with strong occupier demand driving positive rental growth 106 4.7 years 99.7% S$5.2 billion Properties WALE Occupancy Rate Portfolio Value(1) As at 30 September 2025 Australia Germany The Netherlands United Kingdom

  43. Slide 43: Portfolio Overview – Commercial

    Portfolio Overview – Commercial Positioned with a focus on sustainability and wellness 7 5.0 years 86.1% S$1.7 billion Properties WALE Occupancy Rate Portfolio Value(1) Caroline Farnborough Maxis Business Blythe Valley Alexandra 545 Blackburn As at 30 September 2025 Chisholm Central Park Business Pa

  44. Slide 44: Quality Global Tenant Base

    Quality Global Tenant Base Portfolio Top 10 Tenants – Breakdown by asset type  Top 10 L&I tenants as at 30 September 2025 account for 22.1% of portfolio GRI  Average WALE of the 10 L&I tenants is 4.5 years Logistics & Industrial portfolio (Based on % of Portfolio GRI) 4.0% 3.2% 2.7% 2.3% 2.2% 1.9%

  45. Slide 45: Quality Global Tenant Base

    Quality Global Tenant Base Portfolio Top 10 Tenants – Breakdown by asset type  Top 10 commercial tenants as at 30 September 2025 account for about 12.1% of portfolio GRI  Average WALE of these 10 tenants is 9.5 years 4.7% Commercial portfolio (Based on % of Portfolio GRI) 2.3% 0.9% 0.8% 0.8% 0.6%

  46. Slide 46: Lease Expiry Profile

    Lease Expiry Profile Logistics & Industrial Logistics & Industrial Portfolio Lease Expiry Profile as at 30 September 2025(1) (Based on % of Logistics & Industrial Portfolio GRI) Australia Germany and the Netherlands United Kingdom Singapore 1.2% 0.6% 0.4% 5.7% 4.6% 5.5% 3.0% 1.5% 0.2% 0.9% 1.1% 1.2%

  47. Slide 47: Lease Expiry Profile

    Lease Expiry Profile Commercial Commercial Portfolio Lease Expiry Profile as at 30 September 2025(1) (Based on % of Commercial Portfolio GRI) Australia Singapore UK 5.3% 2.9% 6.0% 13.9% 6.0% 5.5% 1.7% 5.5% 2.4% 5.2% 6.9% 0.5% 6.8% 2.8% 3.9% 4.5% 3.6% 3.4% 1.7% 3.2% 0.3% 1.0% 1.2% 1.1% 1.0% 0.5% 0.6%

  48. Slide 48: Inspiring experiences, creating places for good.

    Inspiring experiences, creating places for good. © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

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