Ascendas India Trust : Notice Of Books Closure And Payment Date For Distribution For The Period From 28 November 2019 To 31 December 2019

ASCENDAS INDIA TRUST

(Registration Number: 2007004)

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

To: Unitholders of Ascendas India Trust

Dear Sir/Madam

NOTICE OF BOOKS CLOSURE AND PAYMENT DATE FOR DISTRIBUTION

FOR THE PERIOD FROM 28 NOVEMBER 2019 TO 31 DECEMBER 2019

1. Distribution Details

We are pleased to inform you that Ascendas India Trust ("a-iTrust") will distribute 0.64 Singapore cents per unit for the period from 28 November 2019 to 31 December 2019 (the

"Distribution").

The Transfer Books and Register of Unitholders of a-iTrust will be closed at 5.00 pm on Wednesday, 19 February 2020 (the "Books Closure Date") for the purpose of determining Unitholders' entitlements to the Distribution. Unitholders whose securities accounts with The Central Depository (Pte) Limited are credited with a-iTrust units on the Books Closure Date will be entitled to the Distribution to be paid on Thursday, 27 February 2020.

The Distribution will be tax exempt in the hands of all Unitholders, regardless of their nationality, corporate identity or tax residence status. Unitholders are not entitled to tax credits for any taxes paid by Ascendas Property Fund Trustee Pte. Ltd. ("APFT" or the "Trustee-Manager"), the Trustee-Manager of a-iTrust.

Distribution period	28 November 2019 to 31 December 2019
Distribution amount	0.64 Singapore cents per unit
Ex-distribution date	9.00 am, 18 February 2020
Books closure date	5.00 pm, 19 February 2020
Payment date	27 February 2020

2. Distribution Policy

The distributable income of a-iTrust is substantially based on the cash flow generated from the operations undertaken by the Venture Capital Undertakings ("VCUs") in India, being mainly the letting of completed properties and the provision of property-related services.

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• At the VCU level, the consolidated net profit from operations is arrived at after deducting all expenses incurred from the consolidated net property income.
• At a-iTrust and Singapore Special Purpose Vehicle ("SPV") levels, the distributable income is derived after deducting all expenses incurred and adding any income earned at a-iTrust and Singapore SPV levels. Non-cash items (e.g. payment of Trustee- Manager's fees in units, unrealised gains or losses on foreign exchange or on fair value of investment properties and derivatives) are also adjusted.
• For full details on the calculation of the distributable income, please refer to item 1(a)(i) of the announcement of results for the period, which is available onwww.sgx.comand www.a-itrust.com.

a-iTrust is committed to distribute at least 90% of its distributable income, with the actual level of distribution to be determined at the Trustee-Manager's discretion. Distributions, when paid, will be in Singapore dollars.

1. Directors' Responsibility Statement
   The Board of Directors of APFT is satisfied on reasonable grounds that, immediately after making the distribution, the Trustee-Manager will be able to fulfill, from the Trust Property (as defined in the Business Trusts Act) of a-iTrust, the liabilities of a-iTrust as these liabilities fall due.
2. Documents Available for Inspection
   A copy of the Directors' responsibility statement and the distribution policy are available to Unitholders for inspection during normal business hours at APFT's office at 1 Fusionopolis Place, #10-10, Galaxis, Singapore 138522.

By Order of the Board

Ascendas Property Fund Trustee Pte. Ltd.

(Company Registration No. 200412730D)

as Trustee-Manager of a-iTrust

Manohar Khiatani	Sanjeev Dasgupta
Director	Director
30 January 2020

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