Waiver :: Deferral Of Annual General Meeting

(Constituted in the Republic of Singapore

pursuant to a trust deed dated 9 October 2002 (as amended))

ANNOUNCEMENT

DEFERRAL OF ANNUAL GENERAL MEETING

Ascendas Funds Management (S) Limited, the manager of Ascendas Real Estate Investment Trust ("Ascendas REIT", and the manager of Ascendas REIT, the "Manager"), refers to the announcement by Singapore Exchange Securities Trading Limited (the "SGX-ST") on 27 February 2020 allowing issuers with a financial year-end of 31 December to hold their annual general meetings ("AGMs") in respect of the financial year ended 31 December 2019 ("FY 2019") by 30 June 2020.

In view of the recent tightened safe-distancing measures issued by the Ministry of Health in relation to the COVID-19 situation in Singapore, the Manager had sought SGX-ST's grant of a waiver from Rule 707(1) of the listing manual of SGX-ST, which would allow an extension of time until 30 June 2020 for Ascendas REIT to hold its AGM in respect of FY 2019 (the "AGM Extension", and such waiver from SGX-ST, the "Waiver").

The Manager wishes to announce that the SGX-ST had on 2 April 2020 informed the Manager that the SGX-ST has no objection to granting the Waiver. The Waiver is granted on the basis that Ascendas REIT fulfils the following criteria (the "Criteria"):

1. Ascendas REIT has a financial year-end of 31 December 2019; and
2. Ascendas REIT has received approval from the Monetary Authority of Singapore, being the relevant regulatory authority, for a waiver which would accommodate the AGM Extension.

In relation to the Waiver (which is subject to the following conditions), the board of directors of the Manager confirms that:

1. Ascendas REIT has fulfilled the Criteria;
2. the Waiver will not be in contravention of any laws and regulations governing Ascendas REIT and its trust deed; and
3. Ascendas REIT's annual report for FY 2019 will be issued to unitholders of Ascendas REIT ("Unitholders") and the SGX-ST by 15 April 2020.

In light of the Waiver, the Manager wishes to announce that, subject to the COVID-19 situation, the AGM for FY 2019 will be held by 30 June 2020 (the "2020 AGM").

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Unitholders should note that the date of the 2020 AGM may be subject to further changes based on the evolving COVID-19 situation and any directives or guidelines from government agencies or regulatory authorities, including from the Ministry of Health (collectively, "Directives"). The Manager will continue to be guided by applicable Directives in conducting the 2020 AGM.

Further details regarding the 2020 AGM will be set out in the notice of AGM when it is issued.

BY ORDER OF THE BOARD

ASCENDAS FUNDS MANAGEMENT (S) LIMITED

(Company Registration No. 200201987K)

As manager of Ascendas Real Estate Investment Trust

Mary Judith de Souza Company Secretary 3 April 2020

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Important Notice

The past performance of Ascendas Real Estate Investment Trust ("Ascendas Reit") is not indicative of future performance. The listing of the units in the Ascendas Reit ("Units") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, Ascendas Funds Management (S) Limited (the "Manager") or any of its affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST.

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.

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