Mapletree Logistics Trust - Board Statement

Board Statement

This year marks a double milestone for Mapletree Logistics Trust (“MLT” or the “Trust”) as we celebrate our 20ᵗʰ anniversary and the publication of our 10ᵗʰ Sustainability Report. These milestones reflect two decades of disciplined growth and a decade of transparent sustainability reporting, underscoring our evolution from identifying sustainability priorities to delivering measurable impact. In this report, we share our sustainability progress, performance and key developments for the financial year ended 31 March 2026 (“FY25/26”).

The operating environment this year was shaped by shifting global trade patterns, persistent geopolitical volatilities, climate change and a more cautious outlook among tenants. These developments underscore the importance of staying agile, strengthening portfolio resilience and embedding sustainability into our growth strategy. Even as conditions evolve, our commitment remains clear: sustainability is integral to how we create long-term value and prepare MLT for the future.

Our approach continues to be anchored by four key pillars:

• Environment: Safeguarding against the impact of climate change
• Social: Enhancing social value in the workplace and community
• Governance: Upholding high ethical standards
• Economic Performance: Building a resilient and sustainable business

Safeguarding Against the Impacts of Climate Change
Climate‑related risks are becoming increasingly evident, and the call for decisive corporate actions has never been stronger. At MLT, we continue to advance initiatives to strengthen the resilience of our assets while reducing our environmental footprint in line with our own decarbonisation pathway as well as the interim 2035 targets set by our Sponsor, Mapletree Investments Pte Ltd (“MIPL” or “the Mapletree Group”). The Mapletree Group has committed to an 80% reduction in operational carbon emissions intensity by 2035 (Scope 1 and Scope 2) from the FY23/24 baseline and aspires to achieve the same level of reduction for Scope 3, following a science-based pathway – underscoring our dedication to sustainable growth and climate responsibility.

A major part of this momentum came from the continued implementation of our renewable energy programme. We completed 16 new rooftop solar installations, boosting total installed solar capacity by 85.4% to 131.8 MWp¹. With this progress, our assets in China, Hong Kong SAR and Malaysia achieved carbon neutrality for Scope 2 market-based emissions, marking another significant milestone in our decarbonisation journey.

Reflecting the impact of our ongoing sustainability initiatives, our China portfolio achieved an 8% reduction in Scope 3 emissions under its Green Electricity Certificates (“GEC”) programme, becoming the first market in MLT’s portfolio to record Scope 3 reduction. In Singapore and Hong Kong SAR, we have reached an almost 20% reduction in energy intensity as of end FY25/26 from the FY18/19 baseline — essentially achieving our 2030 target years in advance.

To support long-term progress, the Mapletree Group has strengthened several sustainability‑related policies covering operations, investment, development and renewable energy, alongside updates to our Health, Safety and Environment (“HSE”) policy. These updates, which primarily concern net zero implementation and International Sustainability Standards Board (“ISSB”) reporting requirements, provide greater alignment and direction for our climate action efforts over the long term.

Enhancing Social Value in Our Workplace and Community
We are committed to creating a workplace where our people feel supported, valued and engaged, fostering an environment where our tenants and communities can thrive.

In FY25/26, an Employee Pulse Survey was conducted to better understand the needs and perspectives of our employees across the Mapletree Group. Leadership, collaboration, wellness and career growth remained key themes, with scores for Strategic Alignment, Operating Efficiency, and Engagement staying steady. With supporting tenants also being a key priority, we conducted a tenant satisfaction survey in FY25/26, in which both our ESG initiatives and property management services were rated ’Very Good’. These results indicate that we are delivering meaningful value and support across our platform.

To deepen responsible business practices across our supply chain, the Mapletree Group is rolling out Group-wide the Supplier Code of Conduct. This reinforces our expectations of ethical conduct and deepens our ESG‑related engagement with partners.

Upholding High Ethical Standards
The Board oversees the management and monitoring of MLT’s material sustainability matters, ensuring that these considerations are integrated into our strategies and business plans. In FY25/26, the Board reviewed material ESG factors and reaffirmed their relevance to broader sector trends and alignment with the Mapletree Group’s sustainability priorities. This oversight remains a key part of MLT’s governance approach.

Our sustainability practices are guided by the Mapletree Group and led by the Group’s Sustainability Steering Committee and management teams. To strengthen this foundation, we continue to equip our employees with relevant sustainability-related knowledge while fostering a corporate culture grounded by environmental and social responsibility. In FY25/26, mandatory anti-corruption and business ethics training was conducted for all employees, further embedding our culture of integrity and accountability. These efforts reinforce our governance framework and enhance transparency in how we operate.

Reflecting this disciplined approach, the Manager was recognised at the SIAS Investors’ Choice Awards 2025 as Co-Winner of the Most Transparent Company Award in the REITs & Business Trusts category – an accolade that validates our commitment to strong governance and open stakeholder engagement.

Building a Resilient and Sustainable Business
Green and sustainable financing continues to be an important enabler of our transition toward a lower carbon future. As of 31 March 2026, we have secured S$1.5 billion in green financing to support asset upgrades and developments with positive environmental impact. These initiatives delivered tangible outcomes during the year, with 16 assets attaining new green certifications and three additional sustainability initiatives introduced for tenants.

By the end of FY25/26, 67% of our portfolio by GFA had obtained green certifications. Beyond expanding certification coverage, the Manager has also raised the bar by taking selected projects beyond industry best practice. A flagship example is Mapletree Benoi Logistics Hub, which has achieved Platinum Super Low Energy rating and was honoured as one of the 11 project icons at the 20th anniversary of the Building and Construction Authority (“BCA”) Green Mark scheme – a recognition that exemplifies our certification journey.

These achievements reflect our disciplined approach to elevating environmental performance and ensuring that green capital is used effectively.

Looking ahead, the Board remains committed to driving long-term value by advancing decarbonisation across our portfolio and operations, ensuring sustainability gains benefit all stakeholder groups and upholding transparency in how we manage our environmental impacts. We thank our employees, partners, tenants and stakeholders for their continued support as we work toward a more resilient and sustainable futureGtion to our employees, tenants, investors, business partners and other stakeholders for their support in our sustainability journey.

The Board of MLTM
To access the full Sustainability Report, please click here.

_{¹Includes self-funded and third-party funded solar installations..}

Board Statement

Board Statement

We are pleased to present the ninth sustainability report of Mapletree Logistics Trust (“MLT” or the “Trust”). This report captures our overarching approach towards material sustainability matters, and our progress towards meeting our sustainability goals for the financial year ended 31 March 2025 (“FY24/25”).

We remain steadfast in our commitment to build a resilient business, anchored on these key pillars: safeguarding against the impacts of climate change, enhancing social value in our workplace and community, and upholding high ethical standards. Through this approach – focusing on Environmental, Social and Governance (“ESG”) impacts, risks and opportunities, we aim to create Long-term value and strengthen our foundation for a resilient and sustainable business.

Safeguarding Against the Impacts of Climate Change
We are cognisant of the global urgency to address climate change and remain committed to improving the energy efficiency and sustainability performance of our assets.

Demonstrating our commitment to align with global renewable energy goals, we have completed 11 rooftop solar projects in FY24/25, increasing our total solar capacity by 18.9% year- on-year (“y-o-y”) to 71.1 MWp. These included our first solar projects in Hong Kong SAR and Malaysia. With this progress, China and Hong Kong SAR as a combined market has reached carbon neutrality for Scope 2 emissions, a notable achievement in our sustainability journey.

Our continued efforts to reduce operational costs and environmental impact also resulted in a 4.3% reduction in portfolio energy intensity from FY23/24 baseline.

We reached a key milestone in our sustainability journey with the successful implementation of ESG Data Connect, a Group-wide Environmental Data Management System (“EDMS”), across our 180 assets in nine markets. ESG Data Connect enhances our ability to collect, analyse and report asset-level data to efficiently manage our buildings. Notably, we have progressed further in the disclosure of greenhouse gas (“GHG”) emissions data by presenting our inaugural reporting of Scope 3 GHG emissions in this Sustainability Report. For a start, we are reporting on five categories, including Category 13 which focuses on emissions associated with tenants’ operations.

As climate-related risks and their impacts continue to intensify, there is a growing need for companies to assess and mitigate the related financial impact. To this end, the Singapore Exchange (“SGX”) has from FY2025 adopted the recommendations of the International Financial Reporting Standards (“IFRS”) Sustainability Disclosure Standards developed by the International Sustainability Standards Board (“ISSB”). Building on our experience with disclosures aligned with the Task Force on Climate-related Financial Disclosures (“TCFD”), we proactively started to report IFRS S1 and S2- aligned climate-related information in FY24/25, ahead of the mandatory timeline. This reflects our commitment to transparency and accountability in climate-related risk management and resilience.

Enhancing Social Value in Our Workplace and Community
We are dedicated to fostering a work environment that prioritises the well-being of our stakeholders. We strive to create an inclusive and safe workplace that benefits our employees, tenants and the local communities in which we operate.

In response to feedback from the FY23/24 Employee Engagement Survey, we have introduced initiatives to enhance cross-border knowledge sharing and strategic alignment. These initiatives include an immersion programme to facilitate sharing of best practices and strengthen collaboration amongst overseas staff. Additionally, we started regular sessions where senior leaders share MLT’s strategy and key business initiatives with local staff during overseas visits, improving information flow and enhancing alignment across the organisation.

We are pleased to report that in the FY24/25 tenant satisfaction survey, our ESG efforts were rated as ‘Good’, and our property management services as ‘Very Good’, suggesting that we are effectively supporting our tenants across our platform.

During the year, we bolstered our ESG programme with the rollout of a Supplier Code of Conduct in Singapore to ensure ethical supplier practices. This programme will be progressively rolled out to overseas markets. The implementation of the Mapletree Group’s Human Rights Policy this year reinforces our longstanding commitment to advancing human rights, diversity and inclusion across our operations.

We were recognised for our exemplary Board diversity standards in the 2025 Singapore Board Diversity Index¹. Diversity is also recognised throughout the organisation, with 36% of female representation at the Board, and 48% of management positions held by women.

Upholding High Ethical Standards
The Board is responsible for overseeing the management and monitoring of MLT’s material sustainability matters and ensuring that these matters are integrated into our strategies and business plans.

In FY24/25, following a detailed materiality reassessment undertaken at the Group level, the Manager’s Board approved a revised set of material ESG topics. While the list of topics remains largely consistent with previous years, Cybersecurity and Data Privacy was determined as a new material governance topic, reflecting its increasing importance to stakeholders.

Our sustainability practices are guided by the Mapletree Group and led by the Group’s Sustainability Steering Committee and management teams. We continue to equip our teams with relevant sustainability-related knowledge and foster a corporate culture underpinned by environmental and social responsibility. During the year, all employees and Board members completed mandatory ethics trainings, further strengthening our culture of integrity and accountability.

Building a Resilient and Sustainable Business
Green and sustainable financing continues to be a crucial lever in the global transition towards a low-carbon economy. As at 31 March 2025, we have raised an aggregate of S$1.3 billion in green and sustainable financing to fund our green projects. Our green initiatives continue to deliver significant outcomes with 23 new assets attaining green certifications for the first time and three sustainable initiatives implemented for the benefit of tenants in FY24/25.

At the end of the period, more than 56% of our portfolio by gross floor area (“GFA”) has been green certified and 51% of our portfolio by net lettable area (“NLA”) is covered by green leases. We remain dedicated to expanding our sustainable portfolio and will continue to collaborate closely with all relevant stakeholders for the efficient use of capital raised through green financing.

Going forward, we will continue to work tirelessly towards delivering long-term value to our stakeholders by decarbonising our portfolio and operations, sharing benefits across our stakeholder groups, and managing our sustainability impacts transparently. We would like to express our heartfelt appreciation to our employees, tenants, investors, business partners and other stakeholders for their support in our sustainability journey.

The Board of MLTM
To access the full Sustainability Report, please click here

_{¹Developed by WTW (Willis Towers Watson plc), in partnership with the Singapore Institute of Directors and James Cook University.}