IREIT Global ("IREIT"), a Europe-focused real estate investment trust managed by IREIT Global Group Pte. Ltd. (the "Manager"), announced that the Manager has successfully secured a lease extension of six years with GMG Generalmietgesellschaft mbH ("GMG"), a subsidiary from Deutsche Telekom and the sole tenant at Bonn Campus, for 100% of the property starting from May 2023. Further to the automatic 12-month extension of the lease with GMG at Bonn Campus in April 2022, the Manager has continued to engage GMG and explore options to further extend the lease.

This has culminated in the current six-year lease extension agreed with GMG. Under the revised lease agreement which supersedes the 12-month lease extension in April 2022, the lease with GMG at Bonn Campus will now expire in April 2029. With the lease extension, Bonn Campus will remain 100% occupied until April 2029.

On a pro forma basis, the weighted average lease expiry of Bonn Campus would improve from 1.0 years to 7.1 years as at 31 March 2022, while that of IREIT's portfolio would improve from 3.7 years to 4.6 years. For the rest of 2022, the Manager will continue to focus its efforts on asset management to safeguard IREIT's occupancy rate and future income streams, by securing new leases and lease renewals at IREIT's portfolio properties, including Darmstadt Campus where its lease is due to expire in November 2022. Active marketing of the spaces at Darmstadt Campus is on-going.