Ascendas India Trust : Bank Of America Global Real Estate Virtual Conference (15 September 2020 - 17 September 2020)

ASCENDAS INDIA TRUST

Bank of America Global Real Estate Virtual Conference 15 September 2020 - 17 September 2020

Disclaimer

This presentation on a-iTrust's results for the 6-month period ended 30 June 2020 ("1H FY2020") should be read in conjunction with a-iTrust's

half-yearly results announcement, a copy of which is available on www.sgx.comor www.a-iTrust.com.

This presentation may contain 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 developments or companies, shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training, property operating expenses), 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 regarding future events. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Ascendas Property Fund Trustee Pte. Ltd. ("Trustee-Manager") nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use of, reliance on or distribution of this presentation or its contents or otherwise arising in connection with this presentation.

The past performance of Ascendas India Trust ("a-iTrust") is not indicative of future performance. The listing of the units in a-iTrust ("Units") on the Singapore Exchange Securities Trading Limited (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, the Trustee-Manager. 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 Trustee-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 presentation for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.

All measurements of floor area are defined herein as "Super Built-up Area" or "SBA", which is the sum of the floor area enclosed within the walls, the area occupied by the walls, and the common areas such as the lobbies, lift shafts, toilets and staircases of that property, and in respect of which rent is payable.

The Indian Rupee and Singapore Dollar are defined herein as "INR/₹" and "SGD/S$" respectively. Any discrepancy between individual amounts and total shown in this presentation is due to rounding.

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Overview

International Tech Park Bangalore

COVID-19 in India

• First COVID-19 case reported in end January.
• Nationwide lockdown from 25 March 2020; phase-wise reopening of areas outside containment zones effective from 1 June 2020.
• Lockdown and restrictions of varying duration was re-imposed in several containment zones, including Bangalore, Chennai and Pune, due to resurgence of COVID-19 cases.
• Gradual relaxation of restrictions of varying degree across different cities.
• India government pledged to stimulate the economy through a ₹20 trillion (US$265 billion) special economic package, which is equivalent to 10% of India's GDP.

Geographical spread of COVID-19 cases in India

Mumbai

(Panvel) Pune

Hyderabad

Bangalore

Chennai

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Source: Ministry of Health and Family Welfare India; India Today. Data as of 9 September 2020. Circles represent COVID-19 death tolls.