Capital Distribution :: Mandatory

(Constituted in the Republic of Singapore

pursuant to a trust deed dated 9 October 2002 (as amended))

NOTICE OF RECORD DATE AND DISTRIBUTION PAYMENT DATE

NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Unitholders of Ascendas Real Estate Investment Trust ("Ascendas Reit") will be closed on Wednesday, 11 August 2021 at 5.00 p.m. (the "Record Date") for the purpose of determining the entitlement of holders of units in Ascendas Reit ("Units" and holders of Units, "Unitholders") to Ascendas Reit's distribution of:

1. 2.030 cents per Unit for the Units trading under the main Ascendas Reit stock counter for the period from 14 May 2021 to 30 June 20211, comprising:
2. 1. taxable income distribution of 1.419 cents per Unit;
   2. tax-exemptincome distribution of 0.045 cents per Unit; and
   3. capital distribution of 0.566 cents per Unit; and
3. 0.040 cents per Unit for the Consideration Units 2 trading under the temporary Ascendas Reit A stock counter for the period from 30 June 2021 to 30 June 2021, comprising:
4. 1. taxable income distribution of 0.029 cents per Unit;
   2. tax-exemptincome distribution of 0.001 cents per Unit; and
   3. capital distribution of 0.010 cents per Unit.

1 An advanced distribution of 5.63 cents per Unit was paid on 9 June 2021 for the period from 1 January 2021 to 13 May 2021. Please refer to the announcements issued on 25 May 2021 for more details.

2 "Consideration Units" refers to the 27,173,000 Units which were issued to Ascendas Land International (Investments) Pte. Ltd. at an issue price of S$2.9440 as partial consideration for the acquisition of 75% of the total issued share capital of Ascendas Fusion 5 Pte. Ltd. Please refer to the circular dated 31 May 2021 and the announcements issued on 4 May 2021 and 30 June 2021 for more details.

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As announced on 30 June 2021, the Consideration Units were issued under the temporary Ascendas Reit A stock counter separate from the main Ascendas Reit stock counter, such temporary stock counter being maintained for the period commencing from the date of issue of the Consideration Units to the last day of "cum-distribution" trading for the existing units in Ascendas Reit (the "Existing Units"), in respect of the distribution period ending 30 June 2021. After the last day of "cum-distribution" trading, both the Consideration Units and the Existing Units will be aggregated and traded under the main Ascendas Reit stock counter on the Main Board of the SGX-ST.

The Consideration Units and the Existing Units will be aggregated and traded under the main Ascendas Reit stock counter on the Main Board of the SGX-ST from 9.00 a.m. on Thursday,

12 August 2021.

Unitholders whose securities accounts with The Central Depository (Pte) Limited are credited with Units as at the Record Date at 5.00 p.m. on Wednesday, 11 August 2021, will be entitled to the distribution that will be paid on Friday, 3 September 2021.

DECLARATION FOR SINGAPORE TAX PURPOSES

The distribution will comprise three types of distribution - distribution of taxable income ("Taxable Income Distribution"), distribution of tax-exempt income ("Tax-ExemptIncome Distribution") and distribution of capital ("Capital Distribution").

The Tax-Exempt Income Distribution is exempt from tax 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 the trustee of Ascendas Reit on the income of Ascendas Reit against their Singapore income tax liability.

The Capital Distribution is treated as a return of capital to Unitholders for Singapore income tax purpose and is therefore not subject to Singapore income tax. For Unitholders who are liable to Singapore income tax on profits from sale of Units, the amount of Capital Distribution will be applied to reduce the cost base of their Units for Singapore income tax purposes.

Tax will be deducted at source from the Taxable Income Distribution in certain circumstances. The following section describes the circumstances in which tax will or will not be deducted from such distribution, which is referred therein as a "distribution".

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1. The trustee of Ascendas Reit and Ascendas Funds Management (S) Limited, as manager of Ascendas Reit, will not deduct tax from distributions made out of Ascendas Reit's taxable income that is not taxed at Ascendas Reit's level to:

1. Unitholders who are Individuals;
2. Unitholders which are companies incorporated and tax resident in Singapore;
3. Unitholders which are Singapore branches of foreign companies for distributions made on or after 1 January 2015;
4. Unitholders which are non-corporate entities (excluding partnerships) constituted or registered in Singapore, such as:
5. 1. institutions, authorities, persons or funds specified in the First Schedule to the Income Tax Act (Cap. 134);
   2. co-operativesocieties registered under the Co-operative Societies Act (Cap. 62);
   3. trade unions registered under the Trade Unions Act (Cap. 333);
   4. charities registered under the Charities Act (Cap. 37) or established by an Act of Parliament; and
   5. town councils; or
6. an international organisation that is exempt from tax on such distributions by reason of an order made under the International Organisations (Immunities and Privileges) Act (Cap. 145).re tax at the rate of 10% if the Unitholders are qualifying non-residentnon-individual investors. A qualifying non-resident non- individual investor is one who is not a resident of Singapore for income tax purposes and:

1. who does not have a permanent establishment in Singapore; or
2. who carries on any operation in Singapore through a permanent establishment in Singapore, where the funds used to acquire Units in Ascendas Reit are not obtained from that operation.

3. Unitholders are required to complete the applicable Section A, B or C of the "Declaration for Singapore Tax Purposes Form A" ("Form A") if they fall within the categories (b) to (d) stated under Note 1 or Section D of Form A if they qualify as a qualifying non-residentnon-individual investor as described under Note 2.

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1. The trustee and the manager of Ascendas Reit will rely on the declarations made in Form A to determine (i) if tax is to be deducted for the categories of Unitholders listed in (b) to (d) under Note 1; and (ii) if tax is to be deducted at the rate of 10% for distributions to qualifying non-residentnon-individual investors.
2. Unitholders who fall within class (a) under Note 1 are not required to submit Form A.
3. Unitholders who do not fall within the classes of Unitholders listed in Note 1 and Note 2 above can choose not to return Form A as tax will be deducted from the distributions made to them at the prevailing corporate tax rate in any case.
4. The trustee and the manager of Ascendas Reit will deduct tax at the prevailing corporate tax rate from distributions made out of Ascendas Reit's taxable income that are not taxed at Ascendas Reit's level, in respect of Units held by depository agents except where the beneficial owners of these Units are:
5. 1. Individuals and the Units are not held through a partnership in Singapore;
   2. Qualifying Unitholders (as listed in categories (b) to (d) under Note 1); or
   3. Qualifying non-residentnon-individual investors.

For Units held through the depository agents, the depository agents must complete the "Declaration by Depository Agents for Singapore Tax Purposes Form B" ("Form B") and its annexes (Annex 1 for individuals, Annexes 2 and 2.1 for qualifying unitholders and Annex 3 for qualifying non-residentnon-individuals).

8. Form A and Form B (and its annexes) will be received by Unitholders and depository agents respectively, by Ascendas Reit's Unit Registrar, Boardroom Corporate &

Advisory Services Pte. Ltd. on or around Monday, 16 August 2021.

9. Unitholders (Form A) and the depository agents (Form B and its annexes) will have to complete the forms legibly and send it to the Unit Registrar such that it is received by 5.00 p.m. on Monday, 23 August 2021. The trustee and the manager of Ascendas Reit will rely on the declarations made in Form A and Form B to determine if tax is to be deducted. Failure to comply with any of these requirements will render Form A and Form B invalid and the trustee and the manager of Ascendas Reit will be obliged to

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deduct the appropriate amount of tax from the distribution in respect of which this announcement is made.

10. Unitholders who hold Units under the Central Provident Fund Investment Scheme (CPFIS) and the Supplementary Retirement Scheme (SRS) do not have to return the Form as they will receive gross distributions as long as the distributions are paid to their respective CPFIS and SRS accounts.

IMPORTANT DATES AND TIMES

Date / Deadline	Event
9.00 a.m., Tuesday, 10 August 2021	Units will be traded ex-distribution
5.00 p.m., Wednesday, 11 August 2021	Close of Ascendas Reit's Transfer
	Books and Register of Unitholders
9.00 a.m., Thursday, 12 August 2021	Commencement of trading of the
	aggregated Consideration Units and
	Existing Units under the main
	Ascendas Reit stock counter.
By 5.00 p.m., Monday, 23 August 2021	Unitholders and depository agents
	must have completed and returned
	the "Declaration for Singapore Tax
	Purposes Form A and Form B" to the
	Unit Registrar, Boardroom Corporate
	& Advisory Services Pte. Ltd
Friday, 3 September 2021	Payment of distribution

Should Unitholders have any queries in relation to these procedures, please do not hesitate to contact:

Wylyn LIU (Ms)

Investor Relations

Ascendas Funds Management (S) Limited

Tel: [phone], Email: [e-mail]

Or visit Ascendas Reit's website at www.ascendas-reit.com

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