Parkway Life Real Estate Investment Trust : Entry Into The New Master Lease Agreements And The Renewal Capex Agreement

(Constituted in the Republic of Singapore pursuant to a trust deed dated 12 July 2007 (as amended))

ENTRY INTO THE NEW MASTER LEASE AGREEMENTS

FOR MOUNT ELIZABETH HOSPITAL PROPERTY, GLENEAGLES HOSPITAL

PROPERTY AND PARKWAY EAST HOSPITAL PROPERTY

AND THE RENEWAL CAPEX AGREEMENT

Unless otherwise indicated, all terms and references used herein shall bear the same meanings ascribed to them in the announcement of Parkway Life Real Estate Investment Trust dated 14 July 2021 and a circular to Unitholders (as hereinafter defined) dated 8 September 2021 relating to proposed entry into the New Master Lease Agreements for Mount Elizabeth Hospital Property, Gleneagles Hospital Property and Parkway East Hospital Property and the Renewal Capex Agreement.

Parkway Trust Management Limited, in its capacity as manager of Parkway Life Real Estate Investment Trust ("PLife REIT" and as manager of PLife REIT, the "Manager") has on 30 September 2021 announced the results of the extraordinary general meeting ("EGM") of unitholders of PLife REIT (the "Unitholders") held on the same day for the passing of an ordinary resolution in respect of the proposed entry into the New Master Lease Agreements for Mount Elizabeth Hospital Property, Gleneagles Hospital Property and Parkway East Hospital Property and the Renewal Capex Agreement.

The Manager wishes to announce that the New Master Lease Agreements and the Renewal Capex Agreement have been entered into today. In connection with the foregoing, the Manager would also like to inform that Parkway Novena Pte. Ltd., a wholly-owned subsidiary of Parkway Holdings Limited which is the sponsor of PLife REIT, has granted to PLife REIT the ROFR over Mount Elizabeth Novena Hospital Property today.

BY ORDER OF THE BOARD Parkway Trust Management Limited (Company Registration no. 200706697Z)

As manager of Parkway Life Real Estate Investment Trust

Chan Wan Mei

Company Secretary

13 October 2021

1

Important Notice

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in Parkway Life Real Estate Investment Trust ("PLife REIT" and the units in PLife REIT, the "Units").

The value of Units and the income from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by, Parkway Trust Management Limited, as manager of PLife REIT (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 of PLife REIT may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

The past performance of PLife REIT or the Manager is not necessarily indicative of the future performance of PLife REIT or the Manager.

This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in these 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, shifts in expected levels of property rental income, changes in operating expenses, property expenses, governmental and public policy changes and the continued availability of financing in the amounts and on the terms necessary to support PLife REIT's future business. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.

2