ESR-LOGOS REIT (SGX:J91U) commences share repurchases on October 27, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 26, 2023. As per the mandate, the company is authorized to repurchase up to 719,947,687 shares, representing 10% of the issued ordinary share capital. In case of both on and off- market repurchases, the maximum price that will be paid by the company for repurchases will be 105% of the average closing price over the last five market days, on which transactions in the Units were recorded, immediately preceding the date of the Market Repurchase or, as the case may be, the date of the making of the offer pursuant to the Off-Market Repurchase, and deemed to be adjusted for any corporate action that occurs during the relevant five Market Days and on the date of the Market Repurchase.

The purpose of the program is to enhance return on equity for Unitholders and/or the net asset value ("NAV") per Unit and to mitigate short-term market volatility, off-set the effects of short-term speculative trading of the Units, and bolster market confidence in the Units. The repurchased shares will be cancelled. The company intends to use internal sources of funds or bank borrowings and/or a combination of both to finance purchases of shares.

The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is carried out to the full extent, unless varied or revoked in a General Meeting.