Ascendas Real Estate Investment Trust : (I) Formation Of Nominating And Remuneration Committee (II) Change To Composition Of Audit And Risk Committee (III) Change Of Company Secretary

(Constituted in the Republic of Singapore pursuant to a trust deed dated 9 October 2002 (as amended))

ANNOUNCEMENT

1. FORMATION OF NOMINATING AND REMUNERATION COMMITTEE

1. CHANGE TO COMPOSITION OF AUDIT AND RISK COMMITTEE

1. CHANGE OF COMPANY SECRETARY

Ascendas Funds Management (S) Limited (the "Company"), the manager of Ascendas Real Estate Investment Trust ("Ascendas Reit") wishes to announce the following which will take effect on 20 October 2021:

1. Formation of Nominating and Remuneration Committee
   The Nominating and Remuneration Committee of the Company shall comprise the following Board Members:
2. • Dr Beh Swan Gin (Chairman)
   • Mr Chan Pengee, Adrian
   • Mr Manohar Khiatani

The Nominating and Remuneration Committee is formed to assist the Board in, inter alia, matters relating to (a) the appointment, re-appointment and retirement of Board and Board Committees members, review of Board's performance and Director's independence, (b) the leadership development and succession plan and framework for the Chief Executive Officer, and (c) the remuneration for the Directors, Chief Executive Officer and senior management executives of the Company.

1. Change to Composition of Audit And Risk Committee

Mr Manohar Khiatani will cease his membership in the Audit and Risk Committee of the Company.

1. Change of Company Secretary
   Ms Koh Chai Ping Michelle will be appointed as Company Secretary of the Company in place of Ms Mary Judith de Souza.

COMPOSITION OF BOARD AND BOARD COMMITTEES

Following the abovementioned changes, the members of the Board and the Board Committees of the Company with effect from 20 October 2021 are as follows:

Board of Directors1

Dr Beh Swan Gin	Chairman, Non-Executive Independent Director
Mr William Tay Wee Leong	Chief Executive Officer, Executive Non-Independent Director
Mr Chan Pengee, Adrian	Non-Executive Lead Independent Director
Ms Chong Chiet Ping	Non-Executive Independent Director
Mr Daniel Cuthbert Ee Hock Huat	Non-Executive Independent Director
Mr Chinniah Kunnasagaran	Non-Executive Independent Director
Ms Ong Lee Keang Maureen	Non-Executive Independent Director
Mr Manohar Khiatani	Non-ExecutiveNon-Independent Director
Mr Lim Cho Pin Andrew Geoffrey	Non-ExecutiveNon-Independent Director
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Audit and Risk Committee
Mr Chan Pengee, Adrian	Chairman
Ms Chong Chiet Ping	Member
Mr Daniel Cuthbert Ee Hock Huat	Member
Mr Chinniah Kunnasagaran	Member
Ms Ong Lee Keang Maureen	Member
Investment Committee1
Mr Manohar Khiatani	Chairman
Dr Beh Swan Gin	Member
Mr William Tay Wee Leong	Member
Mr Daniel Cuthbert Ee Hock Huat	Member
Mr Chinniah Kunnasagaran	Member
Mr Lim Cho Pin Andrew Geoffrey	Member
Nominating and Remuneration Committee
Dr Beh Swan Gin	Chairman
Mr Chan Pengee, Adrian	Member
Mr Manohar Khiatani	Member

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 19 October 2021

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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