Replace - Placements :: Issue Of 142,664,000 New Units In Ascendas REIT Pursuant To The Private Placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, EUROPEAN ECONOMIC AREA, THE UNITED KINGDOM, CANADA, JAPAN OR AUSTRALIA.

(Constituted in the Republic of Singapore

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

ISSUE OF 142,664,000 NEW UNITS ("NEW UNITS") IN ASCENDAS REAL ESTATE

INVESTMENT TRUST ("ASCENDAS REIT") PURSUANT TO THE PRIVATE PLACEMENT

Capitalised terms used herein, unless otherwise defined, shall have the meanings ascribed to them in the announcement of Ascendas Reit dated 4 May 2021 in relation to the launch of the private placement.

1. Introduction
   Further to its announcements dated 4 May 2021, 5 May 2021 and 6 May 2021, Ascendas Funds Management (S) Limited, in its capacity as manager of Ascendas Reit (the "Manager"), is pleased to announce that the Manager has issued 142,664,000 New Units at an issue price of S$2.944 per New Unit pursuant to the Private Placement. With the issue of the New Units, the total number of Units in issue is 4,163,506,385 Units as at the date of this announcement.
   The New Units will commence trading on the Main Board of Singapore Exchange Securities
   Trading Limited (the "SGX-ST") at 9.00 a.m. on 14 May 2021.
2. Status of the Private Placement New Units
   The New Units will, upon issue, rank pari passu in all respects with the existing Units in issue on 14 May 2021, including the right to Ascendas Reit's distributable income from the day of issuance of the New Units under the Private Placement as well as all distributions thereafter, other than in respect of the Advanced Distribution for the period from 1 January 2021 to 13 May 2021 (being the day immediately prior to the date on which the New Units are issued pursuant to the Private Placement).

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 14 May 2021

Important Notice

This announcement is not for distribution, directly or indirectly, in or into the United States and is not an offer of securities for sale in the United States or any other jurisdictions.

This announcement is for information only and does not constitute or form part of an offer, invitation or solicitation of any securities of Ascendas Reit in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, European Economic Area the United Kingdom, Canada, Japan or Australia, and should not be distributed, forwarded to or transmitted in or into any jurisdiction where to do so might constitute a violation of applicable securities laws or regulations.

The securities referred to herein have not been and will not be registered under the U.S. Securities Act, and may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act or under the securities laws of any state or other jurisdiction of the United States, and any such new Units may not be offered or sold within the United States except pursuant to an exemption from, or transactions not subject to, the registration requirements of the U.S. Securities Act and in compliance with any applicable state securities laws. Any public offering of securities to be made in the United States would be made by means of a prospectus that may be obtained from an issuer and would contain detailed information about such issuer and the management, as well as financial statements. There will be no public offering of the securities referred to herein in the United States.

The value of Units and the income derived from them, if any, may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on the SGX-ST. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

The past performance of Ascendas Reit is not necessarily indicative of the future performance of Ascendas Reit.

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All figures in this announcement unless expressed differently or otherwise stated are rounded off to one decimal place.

This publication has not been reviewed by the Monetary Authority of Singapore.

Notification under Section 309B of the Securities and Futures Act, Chapter 289 of Singapore:

The New Units are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

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