The Board of Directors of Prime US REIT Management Pte. Ltd., as manager of Prime US REIT ("PRIME", and the manager of PRIME, the "Manager"), announced the following in relation to PRIME's credit facilities. Exercise of credit facility extension options: PRIME's USD 600 million credit facility comprises: A) USD 200 million term loan tranche due in July 2024 ("Tranche A-1"); B) USD 200 million term loan tranche ("Tranche A-2"); and C) USD 200 million revolving credit tranche ("Revolver Tranche").

Both Tranche A-2 and Revolver Tranche had an initial maturity of July 2023 with one-year extension options available to extend their maturity dates to July 2024. The Manager has opted to exercise the extension options for Tranche A-2 and Revolver Tranche and served the notice of extension to the bank. Having met all conditions for the extension, effective from 19 July 2023, the maturities of the two tranches have been formally extended to July 2024.

With the completion of the above-mentioned extensions, the entire syndicated credit facility will now mature in July 2024 (inclusive of Tranche A-1 with an original maturity of July 2024), and none of PRIME's credit facilities mature prior to that.