ESR AR 2019 EN

Notes: (1) The remaining 4.5% equity interest in ESR Pte. Ltd is held by Rosewood (Cayman) Holdings, the ultimate beneficial owner of which is a director of certain subsidiaries of our Group. (2) CIP is wholly owned by ESR Developments (Australia) Pty Ltd, which in turn is wholly owned by ESR Australia, which in turn is held as to approximately 99.99% equity interest by ESR Australia Holding Company Pte. Ltd and as to approximately 0.01% equity interest by Mr. Philip Pearce, a director of ESR Pte. Ltd. (one of our Major Subsidiaries) and other subsidiaries in our Group. ESR Australia Holding Company Pte. Ltd is held as to 96.5% equity interest by ESR Pte Ltd, another Major Subsidiary. The remaining 3.5% equity interest in ESR Australia Holding Company Pte. Ltd is held by Skunsh Pty Ltd, as trustee for the McKenna Investment Trust, as to 2.6% and Maxmont Pty Ltd, as trustee for thc Lynch-Grant Investment Trust, as to 0.9%, the ultimate beneficial owner of each of these entities are either current or former directors of certain subsidiaries of our Group. (3) The remaining 32.7% equity interest in ESR Funds Management (S) Limited is held by Mitsui & Co Ltd, an independent third party to our Group, as to 7.7%, save for its interest in ESR Funds Management (S) Limited and Shanghai Summit Pte Ltd as to 25.0%. (4) The remaining 4.9% equity interest in Sunwood Singapore Holding Pte. Ltd. is held by Mr. Thomas Nam as to 2.9%, CEO of ESR Korea, and by Mr. Jihun Kang as to 2.0%, CIO of ESR Korea. (5) Guangzhou Mingyue Warehousing Co., Ltd (廣州市铭粵倉儲有限公司) is held as to 100.0% equity interest by Mingyue Logistics Pte Ltd, an indirect subsidiary of our Company, which in turn is held as to 65.0% equity interest by Redwood Phoenix China Investment Fund Pte Ltd, an indirect subsidiary of our Company. The remaining 35.0% equity interest in Mingyue Logistics Pte Ltd is held by RCLF Guangzhou 1 Pte. Ltd., which is wholly owned by Redwood China Logistics Fund Limited Partnership, which is managed by our Group. Redwood Phoenix China Investment Fund Pte Ltd is wholly owned by Redwood Asian Investments, Ltd, a Major Subsidiary. (6) RW Higashi Ogishima TMK is owned as to 50.01% economic interest by RW Higashi Ogishima GK, an indirect Subsidiary of our Company wholly owned by HGS Japan Pte. Ltd., an indirect subsidiary of our Company wholly owned by RW Higashi Pte. Ltd., an indirect subsidiary of our Company (“ Higashi Pte ”). The remaining 49.99% economic interest equity interest in RW Higashi Ogishima TMK is held by RW Higashi SPE 1 Pte. Ltd, an indirect subsidiary of our Company wholly owned by Higashi Pte. Higashi Pte is owned as to 70.0% equity interest by Redwood Investor (Higashi) Ltd, a wholly owned subsidiary of Redwood Asian Investments Ltd, a Major Subsidiary. The remaining 30.0% equity interest in Higashi Pte is held by Redwood Japan Logistics Fund II Limited Partnership, a Japan development fund which is managed by our Group. (7) Tianjin Fanxin Warehousing Service Co., Ltd. (天津凡信倉儲服務有限公司) is wholly owned by ABM Capital Limited (incorporated under the laws of Hong Kong), an indirect subsidiary of our Company, which in turn is wholly owned by ABM Capital Limited (incorporated under the laws of the BVI) (“ ABM BVI ”), an indirect subsidiary of our Company, which in turn is held as to 90.0% equity interest by Delte Offshore Holdings (BVI) Limited, a wholly owned subsidiary of our Company. The remaining 10.0% equity interest in ABM BVI is held by Ambition Mind Holdings Limited, an independent third party to our Group, save for its interest in ABM BVI. (8) The acquisition of Propertylink was completed on April 24, 2019. Propertylink is wholly-owned by ESR Australia, which in turn is held as to approximately 99.99% equity interest by ESR Australia Holding Company Pte Ltd and as to approximately 0.01% equity interest by Mr. Philip Pearce, a director of ESR Pte. Ltd. (one of our Major Subsidiaries) and other subsidiaries in our Group. ESR Australia Holding Company Pte Ltd is held as to 96.5% equity interest by ESR Pte Ltd, another Major Subsidiary. The remaining 3.3% equity interest in ESR Australia Holding Company Pte. Ltd is held by Skunsh Pty Ltd, as trustee for the McKenna Investment Trust, as to 2.6% and Maxmont Pty Ltd, as trustee for the Lynch-Grant Investment Trust, as to 0.9%, the ultimate beneficial owner of each of these entities is a director of certain subsidiaries of our Group. (9) The remaining 26% equity interest in Shanghai Yurun Meat Food Co., Ltd is held by Jiaxing Yishang Equity Investment Partnership (Limited Partnership), which is controlled by a fund managed by us. (10) PAIP is wholly-owned by ESR ALF Qld Trust, which in turn is wholly owned by ESR Queensland Hold Trust, which in turn is wholly owned by ESR Australia Logistics Fund, which in turn is wholly owned by ESR Co-Invest Trust, which in turn is wholly owned by ESRT No 2, which in turn is wholly owned by ESRT, which in turn is held as to approximately 99.99% equity interest by ESR Hold Trust and as to approximately 0.01% equity interest by Mr. Philip Pearce, a director of ESR Pte. Ltd (one of our Major Subsidiaries) and other subsidiaries in our Group. ESR Hold Trust is held as to 99.90% equity interest by ESR Australia Holding Trust, which in turn is wholly-owned by ESR Australia Holding Company Pte Ltd, which in turn is held as to 96.5% equity interest by ESR Pte Ltd, another Major Subsidiary. The remaining 3.5% equity interest in ESR Australia Holding Company Pte. Ltd is held by Skunsh Pty Ltd, as trustee for the McKenna Investment Trust, as to 2.6% and Maxmont Pty Ltd, as trustee for the Lynch-Grant Investment Trust, as to 0.9%, the ultimate beneficial owner of each of these entities is a director of certain subsidiaries of our Group. The remaining approximately 0.1% equity interest in ESR Hold Trust is held by ESR Australia Holding Company Pte. Ltd directly. (11) Propertylink Trust is wholly owned by ESR Co-Invest Trust, which in turn is wholly owned by ESRT No 2, which in turn is wholly owned by ESRT, which in turn is held as to approximately 99.99% equity interest by ESR Hold Trust and as to approximately 0.01% equity interest by Mr. Philip Pearce, a director of ESR Pte. Ltd (one of our Major Subsidiaries) and other subsidiaries in our Group. ESR Hold Trust is held as to approximately 99.90% equity interest by ESR Australia Holding Trust, which in turn is wholly-owned by ESR Australia Holding Company Pte Ltd, which in turn is held as to 96.5% equity interest by ESR Pte Ltd, another Major Subsidiary. The remaining 3.5% equity interest in ESR Australia Holding Company Pte. Ltd is held by Skunsh Pty Ltd, as trustee for the McKenna Investment Trust, as to 2.6% and Maxmont Pty Ltd, as trustee fear the Lynch-Grant Investment Trust, as to 0.9%, the ultimate beneficial owner of each of these entities is a director of certain subsidiaries of our Group. The remaining approximately 0.1% equity interest in ESR Hold Trust is held by ESR Australia Holding Company Pte. Ltd directly. 33 ESR Annual Report 2019 CORPORATE STRUCTURE