Ascendas India Trust : Payment Of Base Fee And Performance Fee By Way Of Issue Of New Units In Ascendas India Trust

ASCENDAS INDIA TRUST

(Registration Number: 2007004)

(a business trust registered under the Business Trusts Act, Chapter 31A of Singapore)

ANNOUNCEMENT: PAYMENT OF BASE FEE AND PERFORMANCE FEE BY WAY OF ISSUE OF NEW

UNITS IN ASCENDAS INDIA TRUST

Ascendas Property Fund Trustee Pte. Ltd. ("APFT"), the Trustee-Manager of Ascendas India Trust ("a-iTrust"), wishes to announce that 3,167,419 units ("Units") in a-iTrust have been issued to APFT on 29 April 2019.

The Units were issued to APFT pursuant to the Trust Deed constituting a-iTrust dated 28 June 2007 (as amended) ("Trust Deed") as payment of (as defined in the Trust Deed):-

(i)50% of the Base Fee for the period from 1 January 2019 to 31 March 2019; and

(ii)50% of the Performance Fee for the period from 1 April 2018 to 31 March 2019.

The balance 50% of the Base Fee and Performance Fee were paid in cash respectively.

The number of Units was determined based on an issue price of S$1.1847 per Unit, which was the volume weight average traded unit price for all the trades on the Singapore Exchange Securities Trading Limited in the ordinary course of trading for the last 10 trading days of the relevant period in which the Base Fee and Performance Fee accrue (as provided in the Trust Deed). The timing of the issue of the Units to APFT is in accordance with the Trust Deed (i.e. in relation to the payment of Base Fee, within 30 days of the last day of every calendar quarter in arrears and in relation to the payment of Performance Fee, within 60 days of the last day of the financial year).

With the above-mentioned issue of Units, APFT holds an aggregate of 55,023,219 units and the total number of units in issue as at 29 April 2019 is 1,042,204,581.

By Order of the Board

Mary Judith de Souza Company Secretary

Ascendas Property Fund Trustee Pte. Ltd. (Company Registration No. 200412730D) as Trustee-Manager of a-iTrust

29 April 2019