M&G : Real Estate appoints LAI Jing Dong as CIO and interim CEO, Asia

News release

M&G Real Estate appoints LAI Jing Dong as CIO and interim CEO, Asia

HONG KONG/SINGAPORE, 11 FEBRUARY 2021 - M&G Real Estate (M&G) announces that it has appointed LAI Jing Dong as Chief Investment Officer and interim Chief Executive Officer, Asia, subject to regulatory approvals. Reporting to Tony Brown, Global Head of M&G Real Estate, Lai will lead M&G's real estate business and acquisition activities in Asia, including Australia.

Lai joined M&G in October 2016 as Head of Acquisitions, Asia, leading a team of investment professionals spread across its Singapore, Tokyo and Seoul offices.In March 2019, he took on an additional role as Head of M&G Real Estate Japan. Since the commencement of his acquisitions role, he has overseen 15 transactions amounting to US$ 2.91 billion of AUM on behalf of M&G Asia Property Fund ("MAP"), the oldest and largest open-ended core fund in the region. He has also taken the lead on investing on behalf of M&G's value-add mandate which was established in June 2019 and has so far invested in four commercial assets amounting to US$ 512.1 million of AUM in Australia, Japan, and South Korea.

Commenting on the appointment, Tony Brown says: "We are delighted to welcome JD into his new role as CIO and interim CEO of M&G Real Estate in Asia. With his demonstrated track record of creating innovative deals, we are confident that we will continue to deliver strong value for our investors."

Lai has had more than 18 years of real estate investment experience. Prior to joining M&G, he was Director & Head of Investments at Straits Real Estate, where he managed an Asia Pacific investment mandate across multiple asset classes. He has also held senior positions at Goldman Sachs' real estate principal investment area (REPIA) in Japan and Singapore, and Carlyle Asia Real Estate Partners in Hong Kong. He started his career as an analyst in the International Principal Finance Group of Shinsei Bank.

Lai says, "I am honoured to be leading M&G Real Estate's business in Asia. I look forward to contributing to M&G's deep expertise and growing our presence across Asia Pacif ic."

Lai graduated magna cum laude from Tufts University with a B.A. in Economics and International Relations. He is fluent in English, Mandarin, and Japanese.

-ENDS-

1 Includes projected AUM from two forward funding transactions in Singapore and Brisbane

2

If you require any further information, please contact:

Sagarika Krishnan (Singapore)

FTI Consulting

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Email:[e-mail]

Michael Luk (Hong Kong)

FTI Consulting

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Email:[e-mail]

About M&G Investments

M&G Investments is part of M&G plc, a savings and investment business which was f ormed in 2017 through the merger of Prudential plc's UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G plc listed as an independent company on the London Stock Exchange in October 2019 and has £339 billion of assets under management (as at 30 June 2020). M&G plc has over 5 million customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

For nearly nine decades M&G Investments has been helping its customers to p rosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, f ixed income, multi asset, cash, private debt, infrastructure and real estate.

M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Programme.

M&G plc has committed to achieve net zero carbon emissions o n its total book of assets under management and administration by 2050 and committed to reduce operational carbon emissions as a corporate entity to net zero by 2030.

Its £33.7 billion property arm (as at 30 June 2020 including cash), M&G Real Estate, is a leading financial solutions provider for global real estate investors, has a sector leading approach to responsible property management and is committed to continuously improving the sustainability performance of its funds.

For more information, please visit: https://global.mandg.com/