Global Logistic Properties : NEWS RELEASE - GLP CHINA TO ISSUE RMB1.0 BN (US$152M) OF PANDA BONDS VIA CHINA’S INTERBANK MARKET

• GLP is the first international company to issue panda bonds on both the Shanghai Stock Exchange and China's Interbank Market
• Five-year bonds carry an annual coupon of 4.99%
• RMB1.0 billion (US$152 million) offering was more than 2.6 times oversubscribed
• Issuance is in line with GLP's natural hedge policy to optimize capital structure

Shanghai, 17 October 2017 - GLP, the leading global provider of modern logistics facilities, has issued RMB1.0 billion (US$152 million1,2) of RMB-denominated bonds ("panda bonds") in China's interbank market3. The bonds have a five-year tenure and carry an annual coupon of 4.99%. Proceeds will be used for the repayment of existing debt and to fund business growth in China. The offering was more than 2.6 times oversubscribed on the back of strong support from institutional investors.

Teresa Zhuge, Co-President of GLP China, said: "We are delighted to be the first international company to issue panda bonds on both the Shanghai Stock Exchange and China's Interbank Market. The issuance is consistent with our policy to naturally hedge by financing operations

1 Unless stated, all exchange rates are reported as 1 USD = 6.58 RMB, the closing rate as of 13 Oct 2017

2 The size of the issuance is below 5% of the unaudited consolidated net tangible assets of GLP as at 30 June 2017

3 The issuer of the panda bonds is Iowa China Offshore Holdings (Hong Kong) Limited ("GLP China"), GLP's China holding company

http://www.glprop.com

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in local currency and diversifying our sources of funding. As part of our ongoing efforts to maintain a strong balance sheet, we are looking to increase our financial flexibility and optimize our capital structure."

GLP China has an AAA4 credit rating (the highest possible rating in China) and has issued RMB2.5 billion (US$380 million) of panda bonds to-date. The Company plans to further issue panda bonds in multiple tranches, depending on its financing needs and market conditions.

GLP is the leading global provider of modern logistics facilities. Through its network of strategically-located properties and ecosystem partners, GLP is able to offer both space and integrated solutions to drive value for its customers. Domestic consumption is a key driver of demand for GLP. The Company is also one of the world's largest real estate fund managers, with assets under management of approximately US$39 billion.

GLP is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).

GLP Investor Relations & Media Contact: Ambika Goel, CFA

SVP- Capital Markets and Investor Relations Tel: +65 6643 6372

Email: agoel@glprop.com

4 Credit ratings issued by Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. and China Chengxin Credit Ratings Company Limited

This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries. Please refer to our unaudited financial statements for a complete report of our financial performance and position. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," "intends," "foresees," "estimates," "projects," and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements. 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, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP's assumptions are correct