Ascot Residence Trust Management Limited, the manager of Ascot Real Estate Investment Trust, and Ascot Business Trust Management Pte. Ltd., the trustee-manager of Ascot Business Trust (collectively, the "Managers"), announced that the appointment of LG Ong Su Kiat Melvyn as a Non-Executive Independent Director will take effect on 1 May 2021. LG Ong will also be appointed as a member of the Audit Committee.