General Announcement::UPDATE

ACCORDIA GOLF TRUST

(Business Trust Registration No. 2014002)

(Constituted under the laws of the Republic of Singapore and

Managed by Accordia Golf Trust Management Pte. Ltd.)

UPDATE

The board of directors (the "Board") of Accordia Golf Trust Management Pte. Ltd., as trustee-manager of Accordia Golf Trust ("AGT" or the "Trust", and the trustee-manager of AGT, the "Trustee-Manager") refers to the circular despatched or issued to unitholders of AGT ("Unitholders") dated 21 August 2020 (the "Circular").

Unless otherwise defined, all capitalised terms used in this Announcement shall bear the same meaning as in the Circular.

The Trustee-Manager wishes to update that it can make the Final Distribution (if any) and proceed with the winding up and delisting of AGT as soon as AGT's tax matters are finalised. Accordingly, the Trustee- Manager will make the relevant announcements on SGXNET in relation to the timing of the Final Distribution (if any) and the delisting of AGT once the timeline has been determined.

By Order of the Board of

Accordia Golf Trust Management Pte. Ltd.

as trustee-manager of

Accordia Golf Trust

Khoo Kee Cheok

Chairman

22 June 2021

This announcement is for information purposes only and does not constitute or form part of an offer, solicitation or invitation of any offer, to buy or subscribe for any securities of AGT in Singapore, the United States, Canada, Japan or any other jurisdiction, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

The value of the Units and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by, the Trustee-Manager or its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Trustee-Manager to redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

This announcement is not to be distributed or circulated outside of Singapore. Any failure to comply with this restriction may constitute a violation of United States securities laws or the laws of other jurisdictions.