Asset Acquisitions And Disposals :: Announcement Pursuant To Rule 706a Of The Listing Manual

ASCENDAS REAL ESTATE INVESTMENT TRUST

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

ANNOUNCEMENT

ANNOUNCEMENT PURSUANT TO RULE 706A OF THE LISTING MANUAL

Ascendas Funds Management (S) Limited (as manager of Ascendas Real Estate Investment Trust) ("Ascendas Reit" and as manager of Ascendas Reit, the "Ascendas Reit Manager") wishes to announce the transaction carried out during the period 1 July 2021 to 31 December 2021 set out in Annex A pursuant to Rule 706A of the Listing Manual of the Singapore Exchange Securities Trading Limited.

The transaction set out in Annex A did not have any material impact on the net tangible assets or earnings per unit of Ascendas Reit for the financial year ended 31 December 2021.

None of the Directors of the Ascendas Reit Manager or the controlling unitholder of Ascendas Reit has any interest, direct or indirect, in the transaction set out in Annex A.

BY ORDER OF THE BOARD

Ascendas Funds Management (S) Limited (Company Registration No.: 200201987K)

As Manager of Ascendas Real Estate Investment Trust

Michelle Koh

Company Secretary

8 February 2022

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.

Annex A

Announcement pursuant to Rule 706A of the Listing Manual

Period 1 July 2021 to 31 December 2021

Date of Announcement: 8 February 2022

1. INCORPORATION OF WHOLLY OWNED SUBSIDIARY

Incorporation of the following wholly owned subsidiary in United States of America for the acquisition of a portfolio of 11 logistics properties located in Kansas City, United States:

Name	:	Ascendas REIT US 1 LLC
Principal Activity	:	Property holding
Capital Contribution	:	USD1.00 (approximately SGD 1.35)

For further details, please refer to the following:

1. press release on Ascendas Reit to acquire 11 last mile logistics properties in Kansas City, United States, for S$207.8 million dated 22 October 2021; and
2. announcement on Completion of Acquisition of 11 Logistics Properties in Kansas City, United States dated 5 November 2021.

2. CONVERSION OF WHOLLY OWNED SUBSIDIARY

Conversion of a wholly owned subsidiary, Ascendas Fusion 5 Pte. Ltd. (which owns 100% of the land and the buildings located at 1 and 3 Fusionopolis Place in Singapore, which are also known as the Galaxis) into a limited liability partnership, Ascendas Reit (Singapore Sub

1. LLP pursuant to Section 21 of the Limited Liability Partnership Act, Chapter 163A of Singapore.

For further details, please refer to the following:

1. announcement on "Conversion of Ascendas Fusion 5 Pte. Ltd." dated 19 October 2021; and
2. announcement on "Proposed Acquisition of 75% of the Total Issuer Share Capital of Ascendas Fusion 5 Pte. Ltd. dated 4 May 2021.

2