ESR AR 2019 EN

OPERATIONS REVIEW INVESTMENT SEGMENT E-COMMERCE COMPANIES We lease the logistics facilities owned directly by us or by the funds that we manage to a broad range of large and mid-sized, multinational and domestic tenants including e-commerce companies, 3PL providers, brick-and-mortar retailers, manufacturers, cold-chain logistics providers and others. The majority of tenants in our portfolio service domestic consumption in Asia Pacific as logistics infrastructure continues to evolve for the modern economy. 11 Based on stabilised assets on balance sheet and in funds and investment vehicles. WELL-SPREAD LEASE EXPIRY PROFILE Our portfolio enjoys stability from its a well-spread lease profile, with a weighted average lease expiry (“WALE”) of about 4.2 years by leased area and 4.0 years by income as at 31 December 2019. With healthy occupancies across our portfolio, we will continue to focus on maintaining steady occupancies. Portfolio End-User Industry by Income 11 FY2019 E-commerce 60% & 3PL companies Cold Chain 6% Manufacturing 15% Retail 11% Others 8% Portfolio Top 10 Tenants by Income 11 FY2019 55% of top 10 tenants’ FY2019 income contributed by e-commerce related clients JD.com SoftBank Group Corp ZENY Coupang Mitsubishi Fuso, Trucks and Buses Cai Niao Amazon Askul Corporation Samsung C&T ROKIN 11.1% 6.5% 4.5% 4.1% 3.0% 2.3% 2.1 % 1.8% 1.7% 1.7% E-commerce-related Collectively, our top 10 tenants accounted for approximately 39% of the FY2019 income 11 and 41% of rental space 11 . Amongst our top 10 tenants, 55% of the income are contributed by e-commerce related companies. Assets on Balance Sheet Assets held in funds and investment vehicles Portfolio WALE (by leased area) 3.2 years 4.5 years 4.2 years WALE (by income) 3.2 years 4.3 years 4.0 years Lease Expiry Profile by Leased Area As at 31 December 2019 Assets on balance sheet Assets held in funds and investment vehicles 2025 and beyond 3% 26% 2024 3% 9% 2023 4% 10% 2022 4% 15% 2021 5% 12% 2020 2% 7% 43 ESR Annual Report 2019