Frasers Logistics & Commercial Trust · SGX:BUOU

Frasers Logistics & Commercial Trust — H1 FY2026 Earnings Presentation

43 slides from Frasers Logistics & Commercial Trust's earnings presentation, May 5, 2026

  1. Slide 1: 1HFY26 Results Presentation

    1HFY26 Results Presentation 5 May 2026 © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved. Ellesmere Port, Cheshire, United Kingdom

  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 Other Key Acronyms FLCT: Frasers Logistics & Commercial Trust L&I: Logistics & Industrial FPL or the Sponsor: Frasers Property Limited Long-Term Leasehold Properties: Properties with a leasehold tenure of more than 75 years The Group: Frasers Property Limited, toge

  4. Slide 4: 1HFY26 Key Highlights

    1HFY26 Key Highlights Hans-Fleißner-Straße 46-48, Egelsbach, Germany © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  5. Slide 5: 1HFY26 financial highlights

    1HFY26 financial highlights 2.95 S$111.9m 4.9 years 96.1% DPU Distributable WALE Occupancy (Singapore cents) Income 3.2% 33.7% 9.8% 26.2% Cost of borrowing Aggregate leverage Face rent reversions Face rent reversions Trailing 12-month basis 3.1% on a trailing 3-month basis Incoming vs. outgoing Aver

  6. Slide 6: Portfolio overview

    Portfolio overview Strategically located in five developed countries Breakdown by asset type and geography Logistics & Industrial As at 31 March 2026 L&I Commercial Total Business Park 20.1% 75.1% No. of properties 106 7 113 United Germany Kingdom 25.4% Portfolio value S$5,231.2 m S$1,734.9 m S$6,96

  7. Slide 7: Key financial highlights

    Key financial highlights Half year ended 31 Mar 2026 Financial highlights 1HFY26 1HFY25 Change (S$’000) • Higher revenue and adjusted net property income due to: • Positive rental reversions and annual increment from rent Revenue 238,908 232,326 2.8% review from AU L&I and EU L&I segments, full cont

  8. Slide 8: DPU performance

    DPU performance Building sustainable DPU foundation from a quality underlying portfolio with growth opportunities 1HFY25 2HFY25 1HFY26 3.00 2.95 2.95 DPU Commentary: 0.13 0.26 0.48  Improvement in 1HFY26 DPU before Capital Distribution when compared to 1HFY25 and 2HFY25, mainly driven by positive r

  9. Slide 9: Balance sheet highlights

    Balance sheet highlights Aggregate leverage remains healthy  The value of investment properties increased by 1.6% from As at As at S$6,994 million as at 30 September 2025 to S$7,106 million as Balance Sheet (S$’000) 31 Mar 26 30 Sep 25 at 31 March 2026, mainly due to:  Forex gain from the stronger

  10. Slide 10: Capital management

    Capital management Half year ended 31 Mar 2026 Debt maturity profile As at 31 Mar 26 (Quarterly Total gross borrowings: $2,355 m Debt(1) breakdown Key Credit Metrics by currency Change) S$400 million of undrawn committed SGD facilities are currently available to meet 33% Aggregate Leverage 33.7%(3)

  11. Slide 11: Distribution timetable

    Distribution timetable For the 1HFY26 distribution period 1HFY26 distribution details Total distribution for the period from 1 October 2025 to 31 March 2026 was 2.95 Singapore cents, representing a full payout of 1HFY26 distributable income Distribution table Distribution period 1 Oct 2025 to 31 Mar

  12. Slide 12: 1HFY26 portfolio highlights

    1HFY26 portfolio highlights 43 Efficient Drive, Truganina, Australia © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  13. Slide 13: Leasing summary

    Leasing summary Overall positive rental reversions No. of Lettable area Reversion Reversion 2QFY26 WALE Annual increment leases (sqm) (incoming vs outgoing) (average vs average) Logistics & Industrial Singapore Tuas South 1 1,780 0.5 yrs NA NA NA Australia Queensland 2 43,062 4.0 yrs NA / 3.25% 2.4%

  14. Slide 14: Occupancy review

    Occupancy review As at 31 March 2026 % of portfolio As at As at Logistics & Industrial value(1) 31 Mar 26 31 Dec 25 Australia(2) 38.4% 100.0% 100.0% • AU & EU L&I: Portfolio occupancy remains at 100%. Europe 30.8% 100.0% 100.0% • ATP: Secured leases for ~83% ( from 83% as at United Kingdom 3.8% 100.

  15. Slide 15: 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 WALE as at 31 Mar 2026(1) 17.2% 4.9 years 15.9% 15.3% 3.7% 5.0% WALE 7.9% 10.6% 9.0% 85.1% 2.6% Portfolio leases 7.5% embedded with CPI-linked 7.1% 6

  16. Slide 16: Well-diversified tenant base

    Well-diversified tenant base Top 10 tenants represent 25.7% of portfolio GRI with no single top 10 tenant contributing >5%; average WALE of 5.9 years Top 10 portfolio tenants by GRI(1) 4.1% 3.8% 3.2% Six of FLCT’s top 10 2.9% Logistics & Industrial tenants have leases in Commercial multiple building

  17. Slide 17: 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 32.8% 1.5% 70.2% Materials & Industrials 16.0% 4.0% of GRI contribution from L&I tenants Consumer Discretionary 15.7% 3.1% ICT 6.

  18. Slide 18: Acquisition of a prime logistics facility in Hapert, The Netherlands

    Acquisition of a prime logistics facility in Hapert, The Netherlands 100% occupied, modern logistics facility with a long weighted average lease to expiry of 9.5 years(1) • DPU-accretive acquisition of a modern freehold logistics facility, at a 3.3% discount to independent valuation completed on 15

  19. Slide 19: Sustainability highlights

    Sustainability highlights Alexandra Technopark, Singapore © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  20. Slide 20: 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% portfolio by GFA green- 19.9 MW total solar certified or pursuing green capacity across the FLCT portfolio certification(1) 100% by GF

  21. Slide 21: Outlook and key themes

    Outlook and key themes Alexandra Technopark, Singapore © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  22. Slide 22: Key trends and developments

    Key trends and developments Influencing our operating environment Location preferences FLCT’s approach Companies prioritising best-in-class assets in established locations amid  Focus on best-in-class assets with modern supply chain optimisation and diversification specifications in established log

  23. Slide 23: Appendix: Market information

    Appendix: Market information © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  24. Slide 24: Economic indicators in key markets

    Economic indicators in key markets Unemployment E-commerce CPI annual 10-year bond Sequential GDP Interest rate rate growth rate movement (3-month change)(2) yield (12-month change) (3-month change) +0.8% for 4Q2025 +4.2% in Feb 26 +12.07% CAGR +3.7% to Jan 26 4.320% 3-month 4.857% Australia BBSW Ra

  25. Slide 25: Operating environment in Australia

    Operating environment in Australia Industrial and commercial market overview Industrial Prime Grade net face rent (A$/sqm/yr) Prime CBD office net face rent (A$/sqm/yr) 3.1% $250 $225 $232 y-o-y $800 $200 1.6% y-o-y $179 $188 4.6% $700 y-o-y $163 $663 $674 $150 $157 3.9% $600 y-o-y $100 $500 Q1 2022

  26. Slide 26: Australian industrial market: Sydney

    Australian industrial market Sydney Sydney industrial total supply  Demand: Gross take-up stabilised at 199,200 sqm over the quarter, reflecting a normalisation from the elevated post-pandemic cycle, consistent with broader 1,200 market trends. The Transport, Postal & Warehousing sector led demand,

  27. Slide 27: Australian industrial market: Melbourne

    Australian industrial market Melbourne Melbourne industrial total  Demand: Gross take-up rebounded strongly by 66.9% to 384,400 supply sqm from last quarter, reflecting resilient underlying demand. The 1,600 North precinct led with 47.8% (183,600 sqm) of the total, followed by 1,400 the South East

  28. Slide 28: Australian industrial market: Brisbane

    Australian industrial market Brisbane Brisbane industrial total supply  Demand: Gross take-up rebounded strongly to 220,300 sqm over the 1,000 quarter, up 70.7% from last quarter, reflecting resilient underlying demand. Activity remained concentrated in the Southern precinct 800 (108,400 sqm), whic

  29. Slide 29: Australian Commercial market: Perth

    Australian Commercial market Perth CBD office Perth CBD office total supply 160  Supply: No new projects were completed in Q1 2026. The largest 140 recent completion was Brookfield’s development of Nine The 120 Esplanade, a 19-storey tower delivering 31,200 sqm of commercial 100 (‘000 sqm) space in

  30. Slide 30: Operating environment in Germany

    Operating environment in Germany German industrial market overview  Demand: Total take-up for 2025 increased 5.7% year-on-year to 5.20 million sqm, as occupiers continued to trade up to higher-quality facilities. Net absorption of 515,000 sqm in Q4 2025 reflects a more cautious near-term Germany ne

  31. Slide 31: Operating environment in The Netherlands

    Operating environment in The Netherlands Dutch industrial market overview  Demand: Structural drivers including supply chain diversification, nearshoring and infrastructure investment continue to support occupational demand. In Q4 Dutch net take-up and prime rents 2025, net absorption rose 7.8% on

  32. Slide 32: Operating environment in The United Kingdom

    Operating environment in The United Kingdom Market overview South East commercial market overview  Take-up in the South East for suites over 10,000 sq ft totalled 842,200 South-east markets take-up sq ft in Q4 2025, above the previous quarter and the five-year average, albeit from a relatively low

  33. Slide 33: Operating environment in Singapore: business parks

    Operating environment in Singapore Singapore business park market overview Singapore business park rents  Supply: There were no new project completions in Q1 $6.5 6.05 6.10 6.10 6.10 6.10 6.10 6.10 6.10 6.05 6.05 6.10 6.10 6.15 6.15 6.15 2026. For the rest of the year, new supply is limited with $6

  34. Slide 34: Operating environment in Singapore: industrial

    Operating environment in Singapore Singapore industrial market overview  Supply: No new major projects were completed in Q1 2026. Singapore industrial (warehouse) rents Prime logistics supply pipeline is expected to normalise in 2026, with upcoming facilities largely pre-leased. $2.00 Consequently,

  35. Slide 35: Key cost considerations for logistics occupiers

    Key cost considerations for logistics occupiers Being well-connected to transport routes and situated nearer to consumers allow occupiers to minimise their most substantial logistics costs Transportation 45 – 70% Labour & Operations 15 – 25% With transportation representing up to 70% of total logist

  36. Slide 36: Appendix: Additional portfolio information

    Appendix: Additional portfolio information © Frasers Logistics & Commercial Asset Management Pte. Ltd. All Rights Reserved.

  37. Slide 37: Portfolio overview – Logistics & Industrial

    Portfolio overview – Logistics & Industrial Benefiting from tight market conditions with strong occupier demand driving positive rental growth The United As at 31 March 2026 Australia Germany Singapore Netherlands Kingdom No. of Properties 61 33 7 4 1 106 properties Portfolio Value (S$ 2,680.7 1,768

  38. Slide 38: Portfolio overview – Commercial

    Portfolio overview – Commercial Positioned with a focus on sustainability and wellness Farnborough Maxis Blythe Caroline 545 As at 31 March Alexandra Central Business Business Valley Chisholm Blackburn 2026 Park Park Park Technopark Centre Road Park 7 properties United United United Canberra, Victor

  39. Slide 39: Quality global tenant base

    Quality global tenant base Portfolio top 10 tenants by asset type • Top 10 L&I tenants as at 31 March 2026 account for 21.9% of total portfolio GRI(1) • Average WALE of the 10 L&I tenants is 5.4 years 3.8% Industrial Portfolio (Based on % of portfolio GRI) 3.2% 2.9% 2.3% 2.2% 2.0% 1.6% 1.3% 1.3% 1.3

  40. Slide 40: Quality global tenant base

    Quality global tenant base Portfolio top 10 tenants by asset type • Top 10 commercial tenants as at 31 March 2026 account for 11.7% of total portfolio GRI(1) • Average WALE of these tenants is 7.5 years Commercial Portfolio 4.1% (Based on % of portfolio GRI) 2.3% 1.2% 0.8% 0.7% 0.6% 0.5% 0.5% 0.5% 0

  41. Slide 41: Lease expiry profile: Logistics & industrial

    Lease expiry profile Logistics & industrial Portfolio lease expiry profile by WALE as at 31 Mar 2026(1) (Based on % of Logistics & Industrial Portfolio GRI) Australia Germany and the Netherlands United Kingdom Singapore 0.6% 0.5% 5.2% 7.1% 2.8% 1.2% 1.5% 1.7% 0.2% 0.8% 1.6% 4.8% 11.4% 5.7% 6.7% 8.9%

  42. Slide 42: Lease expiry profile: Commercial

    Lease expiry profile Commercial Portfolio lease expiry profile by WALE as at 31 Mar 2026(1) (Based on % of Commercial Portfolio GRI) Australia United Kingdom Singapore 3.4% 8.2% 5.5% 4.7% 4.9% 2.9% 5.4% 4.0% 12.8% 0.9% 0.4% 5.8% 5.7% 1.9% 1.2% 2.9% 7.0% 2.7% 2.4% 0.7% 2.6% 0.5% 3.3% 3.5% 1.1% 1.5% 1

  43. Slide 43: Inspiring experiences, creating places for good.

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

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