ASCENDAS REAL ESTATE INVESTMENT TRUST

(Constituted in the Republic of Singapore

pursuant to a trust deed dated 9 October 2002 (as amended) (the "Trust Deed"))

ANNOUNCEMENT

COMPLETION OF DISPOSAL OF PLOT 1 ASSETS IN CONNECTION WITH

THE PROPOSED REDEVELOPMENT OF 1 SCIENCE PARK DRIVE SINGAPORE 118221

INTO A LIFE SCIENCE AND INNOVATION CAMPUS WITH CAPITALAND

Ascendas Funds Management (S) Limited (the "Manager"), as manager of Ascendas Real Estate Investment Trust ("Ascendas Reit"), refers to the announcement dated 15 November 2021 in relation to the proposed redevelopment of 1 Science Park Drive Singapore 118221 into a life science and innovation campus with CapitaLand (the "Redevelopment Announcement").

The Manager is pleased to announce that HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of Ascendas Reit, has today completed the disposal of the Plot 1 Assets (as defined in the Redevelopment Announcement) to SPRINT Plot 1 TM Pte. Ltd., in its capacity as the trustee- manager of SPRINT Plot 1 Trust, for a consideration (the "Consideration") of S$103.16 million (exclusive of goods and services tax) (the "Disposal").

In accordance with the Trust Deed, the Manager (in its capacity as manager of Ascendas Reit) will be paid a divestment fee of 0.5% of the Consideration (being S$515,800) in connection with the Disposal (the "Divestment Fee"). The Divestment Fee will be paid in the form of units in Ascendas Reit issued to the Manager, which shall not be sold within one (1) year from their date of issuance pursuant to paragraph 5.7 of Appendix 6 of the Code on Collective Investment Schemes.

Following the Disposal, Ascendas Reit owns 96 properties in Singapore, 41 properties in the United States, 34 properties in Australia and 49 properties in the United Kingdom/Europe.

BY ORDER OF THE BOARD

Ascendas Funds Management (S) Limited

(Company Registration No.: 200201987K)

As Manager of Ascendas Real Estate Investment Trust

Michelle Koh

Company Secretary

30 November 2021

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Capitaland Investment Ltd. published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 10:10:08 UTC.