• Revenue¹ of ~S$2.2 billion and 25.7% increase in profit after tax and minority interest (“PATMI”)² to S$285.6 million in Financial Year 2025/2026 (“FY25/26”) demonstrated financial discipline and operational resilience
• Grew its global logistics platform through accelerating development initiatives and targeting first close for logistics development fund Mapletree Emerging Growth Asia Logistics Private Trust (“MEGA”) in mid-2026
• Recorded S$4.2 billion of recycled capital through strategic divestments and monetisation programmes

SINGAPORE – Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) reported a stable performance with ~S$2.2 billion revenue in FY25/26 which ended 31 March 2026, demonstrating financial discipline and operational resilience. Its PATMI was S$285.6 million, a 25.7% year-on-year increase from S$227.2 million in FY24/25 due to lower asset revaluation losses. Recurring PATMI increased from S$606.6 million³ in FY24/25 to S$622.8 million in FY25/26 on lower net finance costs and resilient operations.

Mr Hiew Yoon Khong, Mapletree’s Group Chief Executive Officer said: “Mapletree delivered stable earnings and continued to execute its business strategy with discipline and prudence amid ongoing macroeconomic and geopolitical uncertainties. We accelerated the development programme of our global logistics platform across multiple markets and continued to recycle capital, syndicate assets and grow our fee-based businesses to deliver resilient earnings in FY25/26.”

Through a series of strategic divestments and monetisation programmes, the Group recorded total gross proceeds of S$4.2 billion. In FY25/26, Mapletree’s private funds⁴ monetised over S$2.5 billion of assets in various markets. Similarly, its three real estate investment trusts – Mapletree Logistics Trust (“MLT”), Mapletree Industrial Trust (“MIT”) and Mapletree Pan Asia Commercial Trust (“MPACT”) – executed S$1 billion worth of strategic divestments⁵ which strengthened their financial flexibility to pursue new opportunities. On the back of these programmes, Mapletree recorded S$76.2 billion in assets under management (“AUM”) as at 31 March 2026.

Growing Mapletree’s Global Logistics Platform
The Group focused on building its global logistics platform through an accelerated development strategy. In FY25/26, it completed 13 development projects, 10 of which were logistics. In addition, contracts were awarded for 15 new projects, of which 12 were logistics. As at 31 March 2026, the Group had S$5.4 billion of projects under development⁶. Most were logistics developments (S$2.6 billion) while the rest were in other core sectors: office, student housing and data centre.

As Mapletree’s largest asset class at 42.5% (S$32.4 billion) of total AUM, logistics remains the Group’s key growth enabler. In a high cost-of-capital environment, development assets offer better risk-reward metrics than acquiring stabilised investment properties – a key differentiator for Mapletree from pure capital management players.

In FY25/26, the Group acquired land sites for logistics developments and prime logistics assets, as well as delivered new logistics parks across Asia (Malaysia, India, Japan, China and Vietnam). In the United States (“US”), it had ~US$500 million (S$640.4 million)^7,8 of projects under development, scheduled for completion between 2H 2026 and 2027. At the same time, it focused on expanding its European logistics business through the acquisitions of premium assets and embarking on a ground-up development to complement the Group’s existing assets in Europe.

Driving Expansion in Core Sectors through Development
The Group’s strategic focus on its four core sectors – logistics, office, student housing and data centre – accounts for 83.2% (S$63.4 billion) of its total AUM, reflecting its commitment to building depth and scale in areas where it possesses clear competitive advantages and strong market conviction.

Office
The Group continued to deploy capital selectively into office markets with growth potential, namely Singapore, India and Vietnam. In October 2025, Mapletree announced a new 123,000 square metres (“sqm”) flagship commercial project in Singapore’s Greater Southern Waterfront. Continuing its office expansion efforts in India through development projects, Mapletree acquired a 19,439 sqm land parcel in Yerawada, Pune to develop a Grade A office park with an estimated potential net lettable area (“NLA”) of 167,225 sqm. Once completed and fully operational, Mapletree’s office portfolio in India comprising ~1.8 million sqm of NLA will position the Group strongly to capture the sector’s growth. In Vietnam, the Group broke ground on a Grade A office tower with retail podium in Hanoi which will deliver 92,000 sqm of gross floor area (“GFA”).

Student Housing
Mapletree marked its entry into Australia’s student housing sector in August 2025 with the acquisition of a 1,398 sqm land site along Wellington Street, Perth for an 835-bed premier development. Located within the central business district, the project will provide seamless access to key transit links and prestigious universities upon completion in 2027.

Data Centre
In May 2025, MIT completed the final phase of fitting-out works at its Osaka Data Centre in Japan.

Financial Resilience through Recurring Fee Income and Proactive Capital Management
As at 31 March 2026, the Group manages three Singapore-listed REITs and nine private equity real estate funds across sectors (logistics, commercial and student housing) and geographies (Asia Pacific, Europe, the United Kingdom and the US). Third-party managed assets (private funds and REITs) contribute 73.1% (S$55.7 billion) of its total AUM.

Over the years, fee income has grown from S$8 million in FY05/06 to S$434 million in FY25/26, representing a compound annual growth rate of 22.1%. Recurring fee income, a central pillar of Mapletree’s business model, reflects the strength and resilience of its real estate platforms through market cycles.

Since June 2025, MUSEL successfully exited ~US$1.5 billion (S$1.9 billion)⁸ of logistics assets in the US, delivering returns in line with its 12% internal rate of return target. With a proactive approach to capital management, the Group continued to strengthen its balance sheet and create value for investors in FY25/26.

Continuing with its series of logistics development private funds, the Group is syndicating MEGA, a logistics development fund focused on fast-growing, domestic consumption-driven economies in Malaysia, Vietnam and India, where there is a structural undersupply of institutional grade logistics space. The Group has secured equity commitments from high-quality investors such as a sovereign wealth fund, a pension fund and a national investment company, and is on track to have the first close by mid-2026, with a second close later in the year.

In January 2026, the Group successfully divested 10% of its stakes in its India commercial assets by bringing in another high-quality institutional investor.

Driving Celebrating 25 Years – Strength through Strategy
Since its establishment in 2000, the Group steadily expanded its business across asset classes, geographies and capital partnerships, scaling its AUM from S$2.3 billion in 2003 to S$76.2 billion as at 31 March 2026. Its third-party managed assets grew from S$0.7 billion in FY05/06 to S$55.7 billion as at 31 March 2026, while total equity rose from S$2.5 billion to S$24.3 billion without new shareholder equity injections. Mapletree generated an average return of about 10% on invested equity over the last 20 years.

Mr Hiew added, “Our track record over the past 25 years was built through diverse market cycles that challenged and strengthened us. The past year was no exception and the platform we have built gives us confidence in navigating what comes next. Mapletree has built deep local expertise globally and strong execution capabilities across sectors. Supported by our global logistics platform – particularly through development – as well as proactive capital management, our continued focus on the core sectors, we remain committed to delivering resilient performance and long-term value for our stakeholders.”

Additional Information on Mapletree’s Logistics Investment Updates in FY25/26

• In Malaysia, Mapletree acquired a 118,629 sqm land parcel in Shah Alam to develop a logistics facility with 321,000 sqm of NLA.
• In India, Mapletree acquired a 182,109 sqm land parcel in Chakan, Pune to build Grade A warehouses with 164,581 sqm of NLA, while MLT acquired a Grade A warehouse with 79,378 sqm of NLA in Mumbai for INR3,888 million (S$53.2 million)⁹.
• In Japan, Mapletree Japan Investment Country Private Trust acquired the land site for Kitakami Kanegasaki Logistics Centre (64,000 sqm of GFA) development and completed the forward purchase of Chitose Kami-Osatsu Logistics Centre (46,577 sqm of GFA), a new development.
• In China, the Group completed six logistics parks in China with a total NLA of ~600,000 sqm, all held on the Group’s balance sheet.
• In Vietnam, Mapletree completed the construction of Mapletree Logistics Park Hoa Phu 2 which offers 98,124 sqm of NLA in Bac Ninh province.
• In the US, Mapletree acquired:
  • a 73,289 sqm land site at 3600 Houbolt Road to develop a logistics facility with 29,014 sqm of NLA in Chicago;
  • a 152, 324 sqm land site at 1180 Corporate Centre Drive East to develop a logistics facility with 39,044 sqm of NLA in Pennsylvania; and
  • a 118,856 sqm land site at 1035 W. Laraway Road to develop a logistics facility with 38,973 sqm of NLA in Chicago.
• Mapletree acquired two premium logistics assets (Roosendaal DC1 and Oosterhout DC1) in the Netherlands and embarked on the construction of Piotrków II DC3, a build-to-suit logistics facility in Poland.

Sustainability at the Heart of Mapletree’s Business

Mapletree upholds sustainability as a guiding principle throughout the real estate life cycle – from investments and developments to operations. The Group:

• Embarked on a new distributed district cooling system together with MPACT to enhance energy efficiency across five buildings in the HarbourFront Precinct;
• Expanded its onsite solar deployment to a cumulative 244 megawatt peak;
• Attained over 900 green building certifications and ratings since 2008;
• Ensured all development projects completed in FY25/26 have obtained or are obtaining green building certification; and
• Secured Gold for Asia’s Best Sustainability Report (Private Company) and Asia’s Best Workplace Reporting at the 11^th Asia Sustainability Reporting Awards.