Daiwa House Logistics Trust · SGX:DHLU
Daiwa House Logistics Trust — Merger or Acquisition (March 2025)
16 slides from Daiwa House Logistics Trust's merger presentation, Mar 24, 2025
Slide 1: Acquisition of DPL Gunma Fujioka in Japan
Daiwa House Logistics Trust Acquisition of DPL Gunma Fujioka in Japan - Maintaining Steady Growth 24 March 2025
Slide 2: Important Notice
Important Notice This Presentation is for information purposes only and does not constitute or form part of an offer, solicitation or invitation of any offer, to buy or subscribe for any Units in Singapore or any other jurisdiction, nor should it or any part of it form the basis of, or be relied upo
Slide 3: Operational Performance / Transaction Overview
Operational Performance Transaction Overview
Slide 4: Maintaining steady growth
Maintaining steady growth • DHLT has acquired DPL Gunma Fujioka (“Property”), a freehold logistics property that is located in Greater Tokyo, Japan from an unrelated third party (“Acquisition”) • The purchase consideration for the Property is JPY3,990 million (approximately S$34.7 million) (“Purchas
Slide 5: DPL Gunma Fujioka multi-tenanted freehold property in Greater Tokyo
DPL Gunma MULTI-TENANTED FREEHOLD 1 Fujioka PROPERTY IN GREATER TOKYO Year Built Land Area Occupancy January 2022 33,782SQM 100.0% As at 21 March 2025 Land Title Net Lettable Area Lease Term2 Freehold 22,514SQM 6.0YEARS From 1 April 2025 (1) The Property is multi-tenanted although it is currently le
Slide 6: Continuing portfolio growth
Continuing portfolio growth Portfolio Valuation1 (S$ million) Net Lettable Area (sqm) 881.1 5.4% 499,128 4.7% 835.9 476,614 Pre Acquisition Post Acquisition Pre Acquisition Post Acquisition WALE by GRI2,3 (Years) Portfolio Occupancy Rate2,4 6.6 6.6 WALE remain relatively unchanged 97.6% 97.7% 0.1pp
Slide 7: Rationale of Acquisition
Rationale of Acquisition
Slide 8: DPU-accretive Acquisition to improve returns
DPU-accretive Acquisition1,2 to improve returns ✓ On a pro forma basis, assuming that the Acquisition was completed on 1 January 2024, the DPU for DHLT in relation to FY2024 would increase by approximately 3.3% ✓ While aggregate leverage of DHLT would increase to approximately 40.8% as at 31 Decembe
Slide 9: Addition of another high-quality property
Addition of another high-quality property ✓ DPL Gunma Fujioka is a fully occupied freehold property that is built to modern specifications, with a PML of only 1.7%1 ✓ As it was constructed only in 2022, the capital expenditure requirements of the Property are expected to be minimal in the near term
Slide 10: Property well-connected to transportation networks
Property well-connected to transportation networks Located near to Fujioka Interchange and Fujioka Junction, providing good connectivity Location is suitable as a base for deliveries to the wider Kanto and Koshinetsu regions 9
Slide 11: Gain new blue-chip Tenant, expanding green portfolio
Gain new blue-chip Tenant, expanding green portfolio Adding a blue-chip tenant ✓ The entire property is leased to a new tenant to DHLT’s portfolio ("Tenant") ✓ With the addition of the Tenant following the Acquisition, the tenant base of DHLT is further diversified and strengthened ▪ The Tenant is a
Slide 12: Long term fundamentals of Japan logistics sector healthy
Long term fundamentals of Japan logistics sector healthy ✓ While the logistics sector in Japan faced Japan B-to-C E-Commerce Market2 near-term challenges from an increase in supply, in general, the fundamentals are 25.0 9.38% 10.00% expected to remain healthy from a longer- 9.13% 8.78% term perspect
Slide 13: Acquiring a high-quality property at attractive discount
Acquiring a high-quality property at attractive discount Independent Valuation vs NPI Yield Purchase Consideration 5.8% 2 JPY5,210m 1 Discount 5.2% of 23.4% JPY3,990m Independent Valuation Purchase Consideration DHLT's Japan Portfolio The Property (excluding the Property) (1) Based on the NPI of the
Slide 14: Summary
Summary
Slide 15: Key takeaways
Key takeaways DPU-accretive Acquisition1 High-quality Property, anchored by blue-chip tenant Long term fundamentals of Japan logistics sector to remain healthy Acquisition at attractive discount (1) On a pro forma basis. 14
Slide 16: www.daiwahouse-logisticstrust.com
www.daiwahouse-logisticstrust.com
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