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    CMOU   SG1EA1000007

KEPPEL PACIFIC OAK US REIT

(CMOU)
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Asset Acquisitions and Disposals::Completion of Acquisitions of Bridge Crossing & 105 Edgeview and Private Placement Use of Proceeds

08/19/2021 | 07:34pm EST

KEPPEL PACIFIC OAK US REIT MANAGEMENT PTE. LTD.

(Company Registration No.: 201719652G)

(Incorporated in the Republic of Singapore)

COMPLETION OF ACQUISITIONS OF BRIDGE CROSSING IN NASHVILLE, TENNESSEE,

AND 105 EDGEVIEW IN DENVER, COLORADO, IN THE USA

AND PRIVATE PLACEMENT USE OF PROCEEDS

  1. Completion of Acquisition
    Further to the announcement dated 28 July 2021 in relation to the proposed acquisitions of two office buildings, namely (a) Bridge Crossing located in Nashville, Tennessee, United States of America ("USA"), and (b) 105 Edgeview located in Denver, Colorado, USA, (collectively, the "Acquisitions"), Keppel Pacific Oak US REIT Management Pte. Ltd., as manager of Keppel Pacific Oak US REIT, is pleased to announce that the Acquisitions have been completed on 20 August 2021 (the "Completion").
    Following the Completion, Keppel Pacific Oak US REIT's portfolio will now comprise 15 freehold office buildings and business campuses across nine key growth markets driven by innovation and technology in the USA.
  2. Use of Proceeds from the Private Placement
    Further to the announcement dated 28 July 2021 (the "Private Placement Announcement") in relation to the private placement of 88,676,000 new units in Keppel Pacific Oak US REIT at an issue price of US$0.733 per unit which raised gross proceeds of approximately US$65.0 million (the "Private Placement"), the Manager wishes to announce that US$62.3 million (which is equivalent to 95.8% of the gross proceeds of the Private Placement) has been used to partially fund the Acquisitions and US$2.7 million (which is equivalent to 4.2% of the gross proceeds of the Private Placement) will be used to pay a portion of the estimated fees and expenses in connection with the Acquisitions and the Private Placement. Such use is in accordance with the stated use and is materially in accordance with the allocated percentage of the gross proceeds of the Private Placement as stated in the Private Placement Announcement.
    The balance of the gross proceeds from the Private Placement, if any, shall be used for general corporate and/or working capital purposes.
    The Manager will continue to make periodic announcements on the utilisation of the net proceeds of the Private Placement via SGXNET as and when such funds are materially disbursed.

1

By Order of the Board

Keppel Pacific Oak US REIT Management Pte. Ltd. (Company Registration Number: 201719652G)

as manager of Keppel Pacific Oak US REIT

Marc Tan / Darren Tan

Company Secretaries

20 August 2021

2

IMPORTANT NOTICE

This announcement is for information purposes only and does not constitute or form part of an offer, invitation or solicitation of any securities of Keppel Pacific Oak US REIT in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

This announcement 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 other companies and venues for the sale or distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's view of future events. The past performance of Keppel Pacific Oak US REIT and the Manager are not necessarily indicative of the future performance of any of them.

The value of the units in Keppel Pacific Oak US REIT (the "Units") and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager, Perpetual (Asia) Limited, in its capacity as trustee of Keppel Pacific Oak US REIT, Keppel Capital Holdings Pte. Ltd. and KBS Pacific Advisors Pte. Ltd., as the sponsors of Keppel Pacific Oak US REIT or any of their respective affiliates.

An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Unitholders have no right to request that the Manager redeem or purchase 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 announcement is not to be distributed or circulated outside of Singapore. Any failure to comply with this restriction may constitute a violation of United States securities laws or the laws of any other jurisdiction.

3

Disclaimer

Keppel Pacific Oak US REIT published this content on 20 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2021 23:33:06 UTC.


ę Publicnow 2021
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Sales 2021 142 M - -
Net income 2021 49,4 M - -
Net Debt 2021 491 M - -
P/E ratio 2021 15,2x
Yield 2021 8,07%
Capitalization 806 M 806 M -
EV / Sales 2021 9,15x
EV / Sales 2022 8,66x
Nbr of Employees 7
Free-Float -
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Number of Analysts 4
Last Close Price 0,78 $
Average target price 0,91 $
Spread / Average Target 17,7%
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Managers and Directors
David Elmer Snyder Chief Executive & Investment Officer
Andy Gwee Chief Financial Officer
Peter B. McMillan Non-Independent Non-Executive Chairman
Hee Sang Soong Lead Independent Director
Jong-Doo Ahn Independent Non-Executive Director
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