The Board of Directors of Prime US REIT Management Pte. Ltd., as manager of Prime US REIT announced that Ms. Soh Onn Cheng Margaret Jane will be retiring from her appointments as Independent and Non-Executive Director of the Manager and Chairperson of the Nominating and Remuneration Committee, with effect from 31 May 2023. Also, the Board of Directors of the Manager wishes to announce the appointments of Mr. Kevin John Eric Adolphe as the Chairperson of the NRC and Mr. Richard Peter Bren as a member of the NRC, with effect from 1 June 2023.

Mr. Kevin John Eric Adolphe is an Independent and Non-Executive Director of the Manager since 4 August 2020 and Mr. Richard Peter Bren is a Non-Executive Director of the Manager since 22 July 2022. The Board of Directors of the Manager, having considered the recommendation and assessment by the NRC of Mr. Adolphe's and Mr. Bren's past working experience and professional qualifications, is satisfied that both Mr. Adolphe and Mr. Bren are appropriately qualified and have the requisite knowledge and experience to contribute effectively to the NRC, and Mr. Adolphe is a suitable candidate to be appointed as Chairperson of the NRC while Mr. Bren is a suitable candidate to be appointed as member of the NRC. Following the abovementioned changes, the composition of the Board and the NRC will be re-constituted as set out below: Board: Professor Annie Koh Chairperson as Independent and Non-Executive Director; Mr. John R. French as Independent and Non-Executive Director; Mr. Kevin John Eric Adolphe as Independent and Non-Executive Director; Professor Stephen Phua Lye Huat as Independent and Non-Executive Director; Mr. Chua Hsien Yang as Non-Independent and Non-Executive Director; Mr. Pankaj Agarwal as Non-Independent and Non-Executive Director; Ms. Janice Wu Sung Sung as Non-Independent and Non-Executive Director; Mr. Richard Peter Bren as Non-Independent and Non-Executive Director.

Nominating and Remuneration Committee: Mr. Kevin John Eric Adolphe as Chairperson; Professor Annie Koh as Member; Professor Stephen Phua Lye Huat as Member; and Mr. Richard Peter Bren as Member.