Daiwa House Logistics Trust · SGX:DHLU

Daiwa House Logistics Trust — Q1 2026 Earnings Presentation

20 slides from Daiwa House Logistics Trust's earnings presentation, May 13, 2026

  1. Slide 1: Business Update for First Quarter Ended 31 March 2026

    Daiwa House Logistics Trust Business Update for First Quarter Ended 31 March 2026 13 May 2026

  2. Slide 2: Important Notice

    Important Notice This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in Daiwa House Logistics Trust (“DHLT”, and the units in DHLT, the “Units”). The past performance of DHLT is not necessarily indicative of the future

  3. Slide 3: Key Highlights

    Key OCCUPANCY RATE(1) AGGREGATE LEVERAGE(1) 87.8 % 40.6 % Highlights QUARTER ENDED WALE BY GRI(1,2) FIXED RATE BORROWINGS(1) 31 MARCH 2026 (“1Q FY2026”) 6.3 YEARS 99.3 % GREEN-RATED PROPERTIES(3) INTEREST COVERAGE RATIO(1) 95.9 % 5.1 TIMES (1) Information as at 31 March 2026. (2) Weighed Average Lea

  4. Slide 4: Operational Performance

    : a | Operational Performance

  5. Slide 5: Portfolio occupancy stable in 1Q FY2026

    Portfolio occupancy stable in 1Q FY2026 Occupancy Rate 31 Dec 2025 31 Mar 2026 • No leases expired in 1Q FY2026 Japan • 8 leases expiring in the remaining 9 months of FY2026 Portfolio(1) 87.3% 87.3% (c. 11% of total net lettable area (“NLA”) of the portfolio • 3 leases expiring in 2Q FY2026 (c.1.5%

  6. Slide 6: Challenges faced by DPL Sendai Port

    Challenges faced by DPL Sendai Port BACKGROUND • DPL Sendai Port comprised 4 units, each unit is approximately 15,000 sqm (slightly larger than 2 football fields) Previous tenant which occupied 2 units left in FY2025 to move into self-owned facility An existing 3PL tenant which occupied 1 of the uni

  7. Slide 7: Well distributed lease expiry profile

    Well distributed lease expiry profile OVERALL PORTFOLIO LEASE EXPIRY(1) as at 31 March 2026 Portfolio WALE(1,2) 54.1% 6.3YEARS Japan Portfolio WALE(1,2) 5.8YEARS 18.8% Vietnam Portfolio WALE(1,3) 12.1% 5.2% 1.1% 8.7% 17.6YEARS 2026 2027 2028 2029 2030 2031 and beyond • As at 31 March 2026, DHLT’s po

  8. Slide 8: Strong tenant base helps enhance quality of earnings

    Strong tenant base helps enhance quality of earnings BREAKDOWN OF TENANT TRADE SECTOR TOP 10 TENANT SECTOR % OF GRI(1) by GRI(1) 1 Mitsubishi Shokuhin 3PL 22.9 3PL 2 Suntory Logistics 3PL 7.6 79.6% 3 Nippon Express 3PL 5.3 4 Meito Vietnam 3PL 4.7 E-Commerce 5 Tenant A(2) Retail 4.7 5.8% 6 Tenant B(2

  9. Slide 9: Financial Performance

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  10. Slide 10: Performance of the DHLT Portfolio

    Performance of the DHLT Portfolio NET PROPERTY INCOME NET PROPERTY INCOME NET PROPERTY INCOME of the Japan Portfolio of the Vietnam Portfolio of the overall DHLT Portfolio (JPY million) (VND billion) (S$ million) 0.4% 11.1 12.4% 4.9% 1,188 11.7 11.7 1,130 9.7 1Q FY2025 1Q FY2026 1Q FY2025 1Q FY2026

  11. Slide 11: Net asset value lower mainly due to distribution

    Net asset value lower mainly due to distribution As at As at 31 Dec 2025(1) 31 Mar 2026(1) Total Assets (S$ million) 1,060.4 1,038.8 Total Liabilities (S$ million) 567.3 561.1 Net Assets Attributable to Unitholders (S$ million)(2) 457.3 442.1 NAV per Unit attributable to Unitholders (S$)(1) 0.65 0.6

  12. Slide 12: Balanced approach to capital management

    Balanced approach to capital management DEBT MATURITY PROFILE As at 31 March 2026 as at 31 March 2026 Total borrowings • S$352.4 million (S$ million) Aggregate leverage(1) • 40.6% 101.2 Weighted average debt tenure • 2.7 years 97.2 81.0 Weighted average borrowing cost • 2.05%(2) Proportion of debt w

  13. Slide 13: Looking Forward

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  14. Slide 14: Demand in Japan and Vietnam logistics markets to remain firm

    Demand in Japan and Vietnam logistics markets to remain firm Japan Logistics Market(1) Vietnam Logistics Market(1) Rebalancing of supply and demand Government initiatives aid sector Increased demand for modern facilities Resilient economy ~ Labour shortages drive demand for facilities with modern sp

  15. Slide 15: Appendix

    Appendix

  16. Slide 16: Asia-focused logistics REIT with strong sponsor support

    Asia-focused logistics REIT with strong sponsor support Daiwa House Logistics Trust (DHLT) is established with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing logistics and industrial real estate assets located across Asia, in particular,

  17. Slide 17: Portfolio summary

    Portfolio summary Completion Land Property WALE by GRI(1) Year (sq m) Tenure Type (years) Occupancy(2) Valuation(3) JAPAN - Hokkaido / Tohoku 1. DPL Sapporo Higashi Kariki 2018 60,348 Freehold Multi-tenanted 2.0 100.0% JPY 13,700m 2. DPL Sendai Port 2017 63,117 Freehold Multi-tenanted 3.2 31.9% JPY

  18. Slide 18: Summary of green-rated properties

    Summary of green-rated properties BELS Star Rating Solar Energy Capacity (MWp) 1. DPL Sapporo Higashi Kariki - 2. DPL Sendai Port 2.6 3. DPL Koriyama 3.0 4. D Project Nagano Suzaka S 0.9 5. D Project Maebashi S 1.4 6. D Project Kuki S - DPL Koriyama 7. DPL Ibaraki Yuki(1) 0.8 8. DPL Gunma Fujioka(1)

  19. Slide 19: Listed on Tokyo Stock Exchange Global

    Strong and committed developer Sponsor ✓ One of the largest construction and real estate development companies in Japan ✓ Comprehensive property-related businesses across multiple asset-class and countries ✓ A leader in logistics development having developed approximately 15.3 million sqm(1) Listed

  20. Slide 20: www.daiwahouse-logisticstrust.com

    www.daiwahouse-logisticstrust.com

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