Ascott Residence Trust announced that in connection with the private placement which was undertaken by Ascott Residence Trust on 15 August 2022, the Transfer Books and Register of Stapled Securityholders of ART will be closed on 23 August 2022 at 5.00 p.m. to determine the entitlements of holders of stapled securities in ART to ART's distribution for the period from 1 July 2022 to 23 August 2022, being the day immediately prior to the date on which the new Stapled Securities will be issued pursuant to the Private Placement. The next distribution following the Advanced Distribution will comprise ART's distributable income for the period from 24 August 2022, being the day the New Stapled Securities are issued, to 31 December 2022. Semi-annual distributions will resume thereafter.

The current expectation of Ascott Residence Trust Management Limited is that the quantum of distribution per stapled security in ART under the Advanced Distribution is estimated to be between 1.002 Singapore cents per Stapled Security and 1.102 Singapore cents per Stapled Security. 1 A further announcement on the actual quantum of the distribution per Stapled Security (which may differ from the estimate above) under the Advanced Distribution will be made by the Managers in due course. Payment of Advanced Distribution will be on or around 18 October 2022.