CITI ASEAN C-Suite Forum 2016Singapore, 2 June 2016

25 Pioneer Crescent

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1Q2016 Results - Executive Summary

Robust Portfolio Management

Increase in Portfolio Net Property Income 1.2% increase year-on-year due to acquisitions and benefits of completed AEI/Capex projects

Proactive asset management Weighted Average Lease Expiry remains steady at 3.6 years (by rental income)

Positive rental reversions 1Q2016 positive rental reversion of 2.9 % and retention rate of 89 %

Healthy portfolio occupancy Portfolio occupancy remains steady at 94.1 %

Targeted Divestment Strategy Proposed sale of 23 Tuas Avenue 10

Stable Performance and Prudent Capital Management

DPU – Achieved 1.112 cents for 1Q2016 Up 3.8 % QonQ, on a like-for-like basis

Quality of earnings has improved due to the lack of capital distributions and the 100 % payment

of management fees in cash

102 % of net income is paid out compared to 116 % in 1Q2015

96.7% of interest rates fixed for the next 2.7 years

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21B Senoko Loop

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Financial and

Capital Management Highlights

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1Q2016

(S$

million)

1Q2015

(S$

million)

YoY

(%)

Adjusted

1Q2015

(S$

million) (4)

Adjusted

YoY (%)

Gross Revenue (1) 28.4 27.5 3.2 27.5 3.2

Net Property Income (2) 21.5 21.2 1.2 21.2 1.2

Net Income 14.2 13.6 4.3 12.8 10.9

Net effect of non-taxable items 0.3 1.0

Distribution from capital - 1.1

Amount available for distribution (3) 14.5 15.7 7.5 13.7 5.8

Distribution Per Unit(4) (“DPU”) (cents) 1.112 1.225 9.2 1.071 3.8

Annualised DPU (cents) 4.448 4.900 9.2 4.284 3.8

(1) Includes straight line rent adjustment of S$0.5 million (1Q2015: S$0.5 million)

(2) Higher due to revenue contribution from property acquisitions and asset enhancement initiatives projects completed during the period from 1Q2015 to 1Q2016, partially

offset by properties converted from single-tenanted property to multi-tenancy.

(3) 100% of management fees paid in cash in 1Q2016 compared to 50% cash/50% units in 1Q2015.

(4) 1Q2015 results adjusted to reflect management fees wholly paid in cash and no capital distribution for a like-for-like comparison to 1Q2016.

Q12016 Financial Summary

Balance Sheet Summary

1Q2016

(S$ million)

Investment Properties 1,419.7

Total Assets 1,434.9

Total Borrowings (net of loan transaction costs) 529.6

Net assets attributable to Unitholders 875.2

No. of Units Issued (million) 1,304.4

NAV Per Unit (cents) 67.1

Gearing Ratio (%) 37.1

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Key Capital Management Indicators

• Weighted average debt expiry at 2.9 years

• Unencumbered investment properties close to S$1.2bn

1Q2016

Total Debt (S$ million) 532.5

Gearing Ratio (%) 37.1

All-in Cost (%) p.a. 3.64

Weighted Average Debt Expiry (years) 2.9

Interest Coverage Ratio 4.0

Interest Rate Exposure Fixed (%) 96.7

Proportion of Unencumbered Investment Properties (%) 82.6

Available Committed Facilities (S$ million) 32.5

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Diversified Debt Maturity Profile

• Well-staggered debt maturity profile, with no refinancing due till FY2017

• Available RCF of S$32.5m provides CIT with financial flexibility

155 160

100117.5

0

100

200

300

2016 2017 2018 2019 2020

S$ M

il

MTNs Secured Term Loans Unsecured Term Loan

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Prudent Capital Management Track Record

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1,107

1,3051,261

1,3801,431 1,435

33.1%

38.6%

28.7%

34.8%36.9% 37.1%

20.0%

30.0%

40.0%

50.0%

60.0%

500

700

900

1,100

1,300

1,500

FY2011 FY2012 FY2013 FY2014 FY2015 1Q2016

Gearing RatioTotal Assets (S$m)

Total Assets (S$m) Gearing Ratio

All-in costs of Debt (%)

4.1 4.0 3.9 3.6 3.7 3.6

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Real Estate Highlights

160A Gul Circle

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Proactive Lease Management

As at 31 March 2016

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By Rental Income

13.1%

7.1% 7.4% 7.9%

12.9%

7.1%

15.0%

9.6%

10.9%

6.4%

2.6%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

2016 2017 2018 2019 2020 2021 +

Single-Tenanted Multi-Tenanted

(8

properties)

• 2 properties are expected to be divested• 4 properties are expected to be renewed / new lease • 1 property is expected to be converted into a multi-tenanted building• 1 property is expected to go through some improvement works

• Weighted Average Lease Expiry (WALE) at 3.6 years

• Renewed approximately 110,734 sq ft of leases in 1Q2016 with positive rental reversion of 2.9%

• Tenant retention rate of 89 %• Portfolio occupancy at 94.1 %

Portfolio Rent and Rental Reversion

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110,734 sq ft renewed in 1Q2016: : Positive rental reversion of 2.9%

As at 31 March 2016

$1.13

$1.44

$1.27

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

STBs MTBs TOTAL

Portfolio Rents (Based on Leased Area Per Month Per Sq Ft)

Diversified Portfolio

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Logistics, 15.9%

Warehousing, 21.3%

Light Industrial, 27.9%

General Industrial, 30.0%

Car Showroom and Workshop,

3.2%Business Park, 1.7%

Asset Class (By Rental Income)

Multi-Tenanted Properties,

51.7%

Single Tenanted

Properties, 48.3%

Single Tenanted vs Multi-Tenanted Properties (By Rental Income)

Logistics, 15.1%

Warehousing, 20.9%

Light Industrial, 26.6%

General Industrial,

32.3%

Car Showroom and Workshop,

2.9%

Business Park, 2.2%

Asset Class (By Valuation)

Multi-Tenanted Properties,

50.1%

Single Tenanted

Properties, 49.9%

Single Tenanted vs Multi-Tenanted Properties (By Valuation)

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13.0%

12.2%

11.6%

9.6%

9.3%

8.2%

4.3%

4.2%

3.8%

3.7%

3.5%

3.3%

3.3%

3.0%

1.6%

1.4%

1.3%

1.3%

0.9%

0.5%

W h o l e s a l e o f H o u s e h o l d G o o d s , T e x t i l e s , F u r n i t u r e & F u r n i s h i n g a n d O t h e r s

C o m p u t e r , E l e c t r o n i c a n d O p t i c a l P r o d u c t s

L o g i s t i c s

G e n e r a l s t o r a g e

F a b r i c a t e d M e t a l P r o d u c t s

W h o l e s a l e o f I n d u s t r i a l , C o n s t r u c t i o n a n d I T R e l a t e d M a c h i n e r y a n d E q u i p m e n t

S p e c i a l i s e d s t o r a g e

C i v i l & E n g i n e e r i n g S e r v i c e s

A r c h i t e c t u r a l a n d E n g i n e e r i n g A c t i v i t i e s a n d R e l a t e d T e c h n i c a l C o n s u l t a n c y

C a r D i s t r i b u t i o n

O t h e r S e r v i c e s

P a p e r a n d P a p e r P r o d u c t s

M a c h i n e r y a n d E q u i p m e n t

P r e c i s i o n E n g i n e e r i n g

P h a r m a c e u t i c a l

E d u c a t i o n

R u b b e r a n d P l a s t i c P r o d u c t s

M & E S e r v i c e s a n d G a s S u p p l y

F o o d R e l a t e d S e r v i c e s

A r t s a n d M e d i a

Tenant Classification (Sub-Sectors)

Diversified Tenant Base and Trade Sector

Tenant Classification Main Trade Sectors

Wholesale, Retail Trade Services and

Others, 28.0%

Transportation and Storage,

25.4%Manufacturing, 25.0%

Professional, Scientific and

Techinical Activities,

10.9%

Construction, 4.2%

Other Services,

3.5%

Precision Engineering,

3.0%

% by Rental Income

6.7%

5.0% 5.0%

3.8%3.3% 3.2%

2.3%2.0% 2.0% 2.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

Quality and Diversified Tenant Base

• Top 10 Tenants Account for ~35.3% of Rental Income

31 March 2016

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Portfolio Occupancy Levels by Asset Class

• Healthy portfolio occupancy compared to industry average As at 31 March 2016

CIT Portfolio Average: 94.1%

JTC Industrial Average:

90.6%*

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100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%96.6%

91.4%86.6%

69.2%

87.8%

96.9% 97.0%

90.4% 92.4%

100.0% 100.0%

94.1%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

Logistics Warehousing Light Industrial General Industrial Car Showroom andWorkshop

Business Park TOTAL

Portfolio Occupancy

STBs MTBs TOTAL

*As at 4Q2015

Description

A 4-storey purpose-built industrial

building

Gross Floor Area

102,310 sq ft

Sale Consideration

S$16.5 million

Completion Date

Target June 2016

1Q2016 Divestment Strategy

Proposed Divestment of

23 Tuas Avenue 10

Land Tenure

~ 40 years balance

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86 International Road

Description

Building façade upgrade, widening of driveway

and relocation of sprinkler pump room

Total GFA

~84,463 sq ft

Contract Cost

S$2.2 million

Tenant

Gliderol Doors (S) Pte Ltd

Completion Date

28 January 2016

1Q2016 Completed AEIs

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1Q2016 Corporate Developments

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• Identified a partner for acquisitions in Australia

• Entered into an agreement with Commercial and General (“C&G”),

a leading Australian industrial property specialist

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3 Pioneer Sector 3

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Appendix

3 Pioneer Sector 3

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Logistics General Industrial

Warehouse Car Showroom & Workshop

Light Industrial Business Park

Overview of CIT

Jurong Port

Pasir Panjang Terminal

Keppel Terminal

Changi

International Airport

Data as at 31 March 2016

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IPO in July 2006

Current Market Cap ~S$730 million

51 Properties

~8.5 million sq ft of GFA

~7.9 million Sq ft of NLA

S$1.42 billion Property Value

8.8 months of Security Deposits

~94.1% Occupancy Rate

193 Tenants

Macro-Economic Outlook

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Economic Performance in 2015

Singapore economy grew modestly by 2.1% in 2015

Inflation declined 0.5%

Global economy was buoyed by stronger-than-expected economic

growth in the US.

On the other hand, Eurozone’s economy remained lacklustre together

with a slowdown in China’s economy.

Economic Outlook for 2016

MTI expects Singapore’s economy to grow by 1.0% to 3.0%

Economic growth is expected to come from domestically-oriented sectors

such as business services sector

Inflation is expected to stay between -0.5% to 0.5%

Subdued global economic conditions and prolonged weakness in commodity

prices are expected to continue to weigh on the manufacturing sectorSource: DTZ Consulting and Research, February 2016

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Factory Property Market

Supply of Factory Space

Approx. 19.8m sq ft (NLA) of private

factory space will be completed

between 2016 and 2018 This is significantly below the 10 year

average annual supply of 9.7m sq ft

7.9m sq ft of private factory space are

multiple user factories Out of which 6.9m sq ft (89%) are strata-

titled for sale, with units less than 5,000

sq ft

These segments however are not

direct competition for CIT’s leasing

strategy

Source: DTZ Consulting and Research, February 2016

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Warehouse Property Market

Supply of Warehouse Space

Approx. 13.7m sq ft (NLA) of private

warehouse space is in pipeline

between 2016 to 2018 This is higher than the 10 year average

annual supply of 3.1m sq ft

10.4m sq ft of pipeline supply is

predominantly single user warehouse This includes facilities developed by major

logistics players

E-commerce segment gaining traction Players are moving towards online and offline

retail experiences allowing potential opportunities

of the warehousing sector in Singapore

Source: DTZ Consulting and Research, February 2016

Important NoticeThis material shall be read in conjunction with CIT’s results announcements for the financial period ended 31 December 2015.

The value of units in CIT (“Units”) and the income derived from them may fall as well as rise. Units are not investments or deposits in, or

liabilities or obligations of, Cambridge Industrial Trust Management Limited ("Manager"), RBC Investor Services Trust Singapore Limited

(in its capacity as trustee of CIT) ("Trustee"), or any of their respective related corporations and affiliates (including but not limited to

National Australia Bank Limited, nabInvest Capital Partners Pty Ltd, or other members of the National Australia Bank group) and their

affiliates (individually and collectively "Affiliates"). An investment in Units is subject to equity investment risk, including the possible

delays in repayment and loss of income or the principal amount invested. Neither CIT, the Manager, the Trustee nor any of the Affiliates

guarantees the repayment of any principal amount invested, the performance of CIT, any particular rate of return from investing in CIT, or

any taxation consequences of an investment in CIT. Any indication of CIT performance returns is historical and cannot be relied on as an

indicator of future performance.

Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that investors

may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the “SGX-ST”). Listing of the Units on

the SGX-ST does not guarantee a liquid market for the Units.

This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance,

outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks,

uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic

conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of

occupancy or property rental income, changes in operating expenses (including employee wages, benefits and training costs),

governmental and public policy changes and the continued availability of financing in amounts and on terms necessary to support future

CIT business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager’s

current view of future events.

This presentation is for informational purposes only and does not have regard to your specific investment objectives, financial situation or

your particular needs. Any information contained in this presentation is not to be construed as investment or financial advice, and does

not constitute an offer or an invitation to invest in CIT or any investment or product of or to subscribe to any services offered by the

Manager, the Trustee or any of the Affiliates.

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Further Information

Ms. Elena Arabadjieva

Cambridge Industrial Trust Management Limited

61 Robinson Road, #12-01 Tel: (65) 6222 3339

Robinson Centre Fax: (65) 6827 9339

Singapore 068893 elena.arabadjieva@cambridgeitm.com

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