REPL::Capital Distribution::Mandatory

UNITED HAMPSHIRE US REAL ESTATE INVESTMENT TRUST

(a real estate investment trust constituted on 18 September 2019

under the laws of the Republic of Singapore)

(Managed by United Hampshire US REIT Management Pte. Ltd.)

United Overseas Bank Limited was the sole financial adviser for the initial public offering of United Hampshire US Real Estate Investment Trust (the "Offering"). United Overseas Bank Limited, UOB Kay Hian Private Limited and UBS AG, Singapore Branch were the joint issue managers and global coordinators for the Offering. United Overseas Bank Limited, UOB Kay Hian Private Limited, UBS AG, Singapore Branch, Credit Suisse (Singapore) Limited and The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch were the joint bookrunners and underwriters for the Offering.

NOTICE TO UNITHOLDERS ON EXCHANGE RATE FOR

COMPUTATION OF DISTRIBUTION IN U.S. DOLLARS

As announced on 3 December 2021 by United Hampshire US REIT Management Pte. Ltd., as manager of United Hampshire US Real Estate Investment Trust ("UHREIT"), the declared advanced distribution of US 1.75 cents per unit in UHREIT for the period from 1 July 2021 to 13 October 2021 will be paid on Friday, 17 December 2021.

For Unitholders of UHREIT ("Unitholders'') who have not opted to receive their distribution in U.S. dollars, the amount of distribution to be paid in Singapore dollars will be computed based on the exchange rate of US$1 = S$1.36321, this being the buy rate for Singapore dollars on 13 December 2021. Unitholders who have opted to receive their distribution in U.S. dollars will receive US 1.75 cents per unit.

Should Unitholders have any queries in relation to these procedures, please do not hesitate to contact:

Ms. Leng Tong Yan

Vice President of Investor Relations and Corporate Development

Email: [e-mail]

Or visit our website at: http://uhreit.com

BY ORDER OF THE BOARD

Robert T. Schmitt

Chief Executive Officer

United Hampshire US REIT Management Pte. Ltd.

(Company Registration No. 201916768W)

(as Manager of United Hampshire US Real Estate Investment Trust)

13 December 2021

1 With effect from 15 June 2020, CDP is providing Currency Conversion service ("CCY"), which is a conversion and payment service that converts foreign currency cash distributions to SGD and credit them directly into a CDP direct account holder's active Direct Crediting Service ("DCS") bank account. The CCY service is automatically provided to Unitholders who are CDP Securities Account holders with DCS. For more information on1CCY service, please visit https://www.sgx.com/securities/retail-investor/cdp-faqs.For Unitholders who have previously elected to receive their distributions in USD but do not opt-out of CCY service within 3 business days before the distribution payment date, please note that the CCY service will be applied automatically to convert the distributions into SGD. The exchange rates used to convert USD to SGD under the CCY service are sourced and provided by CDP's partner bank and may differ from the rate announced herein.

IMPORTANT NOTICE

This announcement 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 the Units 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 and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by UHREIT, United Hampshire US REIT Management Pte. Ltd., Perpetual (Asia) Limited, as trustee of UHREIT, 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. The holders of Units have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that holders of Units may only deal in their Units through trading on the Singapore Exchange Securities Trading Limited ("SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

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 forward-looking statements as a result of a number of risks, uncertainties and assumptions. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of UHREIT. The forecast financial performance of UHREIT is not guaranteed. A potential investor is cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events. The past performance of UHREIT is not necessarily indicative of its future performance.

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