Ascott Residence Trust announced the Transfer Books and Register of Stapled Securityholders of ART will be closed on 17 September 2021 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 2021 to 19 September 2021, 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 20 September 2021, being the day the New Stapled Securities are issued, to 31 December 2021. Semi-annual distributions will resume thereafter. The current expectation of Ascott Residence Trust Management Limited, as the manager of Ascott Real Estate Investment Trust, and Ascott Business Trust Management Pte. Ltd., as the manager of Ascott Business Trust (the "Ascott BT Trustee-Manager" and together with the Ascott Reit Manager, the "Managers") is that the quantum of distribution per stapled security in ART under the Advanced Distribution is estimated to be between 0.486 Singapore cents per Stapled Security and 0.586 Singapore cents per Stapled Security1. A further announcement on the actual quantum of the distribution per Stapled Security under the Advanced Distribution will be made by the Managers in due course. Stapled Securityholders whose securities accounts with The Central Depository (Pte) Limited are credited with Stapled Securities as at 5.00 p.m. on the Record Date will be entitled to the Advanced Distribution that will be paid on or around 9 November 2021.