Volare Group AG entered into a sale and purchase agreement to acquire additional 21.4% stake in Alpha Integrated Real Estate Investment Trust (SGX:M1GU) from ESR Group Limited and e-Shang Infinity Cayman Limited for approximately SGD 120 million on December 23, 2025. A cash consideration valued at SGD 0.48 per share will be paid by Volare Group AG. The Financial Adviser to the Offeror in connection with the Offer confirms that sufficient financial resources are available to the Offeror to satisfy full acceptance of the Offer by the holders of the Offer Units on the basis of the Offer Price. Following the Acquisition, Volare holds 464,308,569 Units in the Offeree, representing approximately 41.27% of the issued Units in the Offeree.

The transaction is subject to minimum tender. The Board of Directors of Alpha Integrated Real Estate Investment Trust formed a special committee for the transaction. The expected completion of the transaction is February 10, 2026. As per the announcement dated February 9, 2026 the offer has become unconditional and is now expected to close on February 24, 2026.

Asian Corporate Advisors Pte. Ltd. acted as financial advisor for Alpha Integrated Real Estate Investment Trust. United Overseas Bank Limited acted as financial advisor for Volare Group AG. Boardroom Corporate & Advisory Services Pte. Ltd. acted as transfer agent/registrar for Alpha Integrated Real Estate Investment Trust.