Replace - Extraordinary/ Special General Meeting :: Voluntary

(Constituted in the Republic of Singapore pursuant to a trust deed dated 19 October 2006 (as amended))

ANNOUNCEMENT

RESULTS OF THE EXTRAORDINARY GENERAL MEETING OF

UNITHOLDERS HELD ON 25 JULY 2022

Capitalised terms used herein, unless otherwise defined, shall have the meanings ascribed to them in the circular to holders of units in First Real Estate Investment Trust ("First REIT", units in First REIT, "Units" and the holders of Units, "Unitholders") dated 30 June 2022 (the "Circular").

First REIT Management Limited, in its capacity as manager of First REIT (the "Manager"), wishes to announce that the resolution as set out in the Notice of Extraordinary General Meeting ("EGM") of First REIT dated 30 June 2022 (the "Notice of EGM") and put to vote at the EGM by way of poll, was passed by the Unitholders at the EGM held today.

The information as required under Rule 704(16) of the listing manual of Singapore Exchange Securities Trading Limited (the "SGX-ST") is set out below:

(a) Breakdown of all valid votes cast at the EGM

For

Against

Total number

As a

As a

Resolution number

of Units

represented

percentage

percentage

and details

by votes for

of total

of total

and against

Number of

number of

Number of

number of

the

votes for

votes for

Units

Units

resolution

and against

and against

the

the

resolution

resolution

(%)

(%)

Ordinary

Resolution

To approve

the

Proposed

230,672,257

209,389,033

90.77

21,283,224

9.23

Divestment,

as

an

Interested

Person

Transaction

Please refer to the Notice of EGM for the full version of the resolution. As more than 50% of votes were cast in favour of the resolution, the above resolution was duly passed at the EGM.

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1. Details of parties who are required to abstain from voting on any resolution(s), including the number of Units held and the individual resolution(s) on which they are required to abstain from voting
   As set out in paragraph 11 of the Circular, each of Dr Stephen Riady and Mr James Tjahaja Riady and their associates (including OUE, OUELH and the Manager) are required to abstain from voting on the Ordinary Resolution.
   Based on the information available to the Manager as at the date of the EGM, the following table sets out the parties that are required to abstain and did in fact abstain from voting on the Ordinary Resolution:

	Name			Number of Units held			As a percentage of total
					Units in issue (%)(1)
	OLH Healthcare Investments Pte. Ltd.	677,997,828		33.06
	The Manager	171,125,360		8.34
	Clifford Development Pte. Ltd.	53,471,217		2.61
	Hongkong China Treasury Limited	1,644,588		0.08
	Tan Kok Mian Victor	252,569		0.01

Note:

1. The total number of Units in issue as at 25 July 2022 is 2,050,906,078.

For the purpose of good corporate governance, Mr Christopher James Williams, the Chairman and Non-IndependentNon-Executive Director, Mr Tan Kok Mian Victor, the Executive Director and Chief Executive Officer of the Manager, and Ms Minny Riady, a Non-IndependentNon-Executive Director have also abstained from voting in respect of their respective holdings of Units (if any) on the Ordinary Resolution, as set out in the Circular.

1. Name of firm and/or person appointed as scrutineer
   Reliance 3P Advisory Pte Ltd was appointed as scrutineer for the EGM.

By Order of the Board

First REIT Management Limited (Company Registration No: 200607070D) (in its capacity as manager of First REIT)

Tan Kok Mian Victor

Executive Director and Chief Executive Officer

25 July 2022

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Important Notice

The value of Units and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

This document is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units. The past performance of First REIT is not necessarily indicative of the future performance of First REIT.

This document may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses (including employee wages, benefits and training costs), property expenses and governmental and public policy changes. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's view of future events.

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