Ascott Residence Trust Management Limited, the manager of Ascott Real Estate Investment Trust, and Ascott Business Trust Management Pte. Ltd. ., the trustee-manager of Ascott Business Trust (collectively, the "Managers"), announced the following changes, which will take effect on 17 June 2020: the appointment of Ms Deborah Lee Siew Yin as a Non-Executive Independent Director. Ms Lee will also assume the role of a member of the Audit Committee; the stepping down of Ms Elaine Carole Young as a Non-Executive Independent Director. Consequently, Ms Young will also cease to be a member of the AC; and the appointment of Mr. Goh Soon Keat Kevin, an existing Non-Executive Non- Independent Director, as a member of the Executive Committee. Ms. Deborah Lee Siew Yin is currently an independent director of Metro Holdings Limited and a member of the Audit and Remuneration Committees. The members of the Board and the Board Committees with effect from 17 June 2020.