General Announcement::Sasseur REIT - SGX-Haitong International Singapore Corporate Day - Investor Presentation

SASSEUR REIT - Growth in a Sunrise Industry

First Listed Outlet Mall REIT in Asia

SGX - Haitong International Singapore Corporate Day

Investor Presentation

8 September 2021

Disclaimer

Not for release, publication or distribution in or into the United States, Canada, Japan or the People's Republic of China.

This presentation shall be read in conjunction with Sasseur REIT's financial results announcement dated 13 August 2021 published on SGX Net.

This presentation is for information only and does not constitute or form part of an offer, invitation or solicitation of any offer to purchase or subscribe for any securities of Sasseur REIT in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. The value of the units in Sasseur REIT ("Units") and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager, DBS Trustee Limited, as trustee of Sasseur REIT, Sasseur Cayman Holding Limited, as sponsor of Sasseur REIT or any of their respective affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that unitholders of Sasseur 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 Sasseur REIT is not necessarily indicative of the future performance of Sasseur REIT.

This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. These forward-looking statements speak only as at the date of this presentation. No assurance can be given that future events will occur, that projections will be achieved, or that assumptions are correct. Representative example of these factors include (without limitation) general industry and economic conditions, interest rate trends, costs of capital and capital availability, competition from similar developments, shifts in expected levels of rental revenue, changes in operating expenses, property expenses, governmental and public policy changes and the continued availability of financing in the amounts and the terms to support future business.

Investors are cautioned not to place undue reliance on these forward-looking statements which are based on the current view
of management on future events.	2

Content

Section 1	Key Investment Highlights
Section 2	About Sasseur REIT
Section 3	About Sasseur Group
Section 4	Entrusted Management Agreement ("EMA") Model
Section 5	2Q 2021 Financial Results
Section 6	Capital Management
Section 7	Portfolio Update
Section 8	Investment Merits
Section 9	Appendix

3

Key Investment Highlights

Retail Outlet - A Sunrise Industry

Fast-growing retail outlet sector projected to become world's largest by 20301

Growing middle-class population & spending power

Exposure to high-growthtier-2

PRC cities

Sasseur - Leading Outlet Operator

Leading privately-owned outlet mall operator

Deep understanding of local retail market & diverse brand relationships

2 ROFR and 13 pipeline projects for potential acquisition

1. Source: China Insights Consultancy
2. Defined as the sales revenue opportunity available in the outlet industry after considering information such as economic development, population size, residents' disposable income and outlets penetration

PRC's Outlet Fundamentals Remain Attractive

Fast Growing Middle	Rising Affluence	High Demand for
Class Population	Luxury Brands

		~850M
12.1%	~500M		Annual Spending
	US$111
CAGR			Billion
Projected to grow	2018	2030	Chinese consumers
12.1% annually from	Chinese population	purchase more than a
2015 to reach 216	with annual income	third of the world's
million in 20211	> US$10,0002	luxury goods3

1. Source: China Insights Consultancy - Independent Market Research Report

2. World Bank, Legal & General IM Estimates5

3. Business Times Article "Covid-19 has trapped US$111 billion of luxury spending in China", 9 July 2020.