Waiver :: Extension Of Time To Hold The Annual General Meeting

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

EXTENSION OF TIME TO HOLD THE ANNUAL GENERAL MEETING FOR THE

FINANCIAL YEAR ENDED 31 DECEMBER 2019 DUE TO COVID-19

Parkway Trust Management Limited, as manager of Parkway Life Real Estate Investment Trust ("Parkway Life REIT", and as manager of Parkway Life REIT, the "Manager"), refers to the announcement by Singapore Exchange Securities Trading Limited (the "SGX-ST") on 27 February 2020 to allow issuers with a financial year-end of 31 December 2019 to hold their annual general meetings ("AGM") by 30 June 2020, and wishes to announce that the SGX-ST had on 1 April 2020, informed Parkway Life REIT that the SGX-ST has no objection to granting a two-month extension until 30 June 2020 for Parkway Life REIT to hold its AGM for the financial year ended 31 December 2019 ("FY 2019", and such waiver from the SGX-ST, the "Waiver").

The Waiver is granted to an issuer if it fulfils the following criteria (the "Criteria"):

1. has a financial year-end of 31 December 2019; and
2. has received approval of a similar application for extension of time by the Accounting and Corporate Regulatory Authority or other relevant regulatory authorities (where applicable).

In light of the Waiver, the Manager wishes to announce that the AGM for FY 2019 will be held on or around mid-June 2020. This is an indicative date, which may be subject to change depending on the development of the Covid-19 situation, and the Manager will make further announcements to update unitholders of Parkway Life REIT. Further details regarding the AGM will be set out in the Notice of Annual General Meeting to be despatched by the Manager.

The board of directors of the Manager confirms that:

1. Parkway Life REIT has fulfilled the Criteria;
2. the Waiver will not be in contravention of any laws and regulations governing Parkway Life REIT and its trust deed; and
3. the annual report for FY 2019 will be issued to unitholders of Parkway Life REIT and the SGX-ST by 15 April 2020.

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

2 April 2020

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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 ("Parkway Life REIT" and the units in Parkway Life 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 Parkway Life 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 Parkway Life 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 Parkway Life REIT or the Manager is not necessarily indicative of the future performance of Parkway Life 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 Parkway Life 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.

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