Replace - Extraordinary/ Special General Meeting :: Voluntary

(Constituted in the Republic of Singapore

pursuant to a trust deed dated 9 October 2002 (as amended))

ANNOUNCEMENT

RESULTS OF EXTRAORDINARY GENERAL MEETING HELD ON 16 JUNE 2021

Ascendas Funds Management (S) Limited, as manager of Ascendas Real Estate Investment Trust ("Ascendas Reit", and the manager of Ascendas Reit, the "Manager"), wishes to announce that at the Extraordinary General Meeting ("EGM") of holders of units of Ascendas Reit held on 16 June 2021, all resolutions set out in the Notice of EGM dated 31 May 2021, and put to vote by poll at the EGM, were duly passed.

The information as required under Rule 704(16) of the Listing Manual of Singapore Exchange Securities Trading Limited is set out below:

1. Breakdown of all valid votes cast at the EGM

Resolution number

Total number

For

Against

and details

of units

Number of

As a

Number of

As a

represented by

units

percentage

units

percentage

votes for and

of the total

of the total

against the

number of

number of

relevant

votes for

votes for

resolution

and

and

against the

against the

resolution

resolution

(%)

(%)

Ordinary Resolution 1

To approve the

Proposed Acquisition of

75% of the total issued

1,819,038,302

1,818,583,966

99.98

454,336

0.02

share capital of

Ascendas Fusion 5 Pte.

Ltd. as an Interested

Person Transaction

Ordinary Resolution 2

To approve the

Proposed Issuance of

1,819,038,302

1,818,309,637

99.96

728,665

0.04

Consideration Units

(conditional on the

passing of Ordinary

Resolution 1)

1

Please refer to the Notice of EGM for the full version of the Resolutions.

As more than 50% of votes were cast in favour of Resolution 1, Resolution 1 was duly passed at the EGM.

As more than 50% of votes were cast in favour of Resolution 2, Resolution 2 was duly passed at the EGM.

1. Details of parties who are required to abstain from voting on any resolution(s), including the number of Units held and the individual resolution(s) on which they are required to abstain from voting
   As set out in paragraph 11 of the Circular, CapitaLand Limited and their associates are required to abstain from voting on Resolution 1 and Resolution 2. Based on the information available to the Manager as at the date of the EGM on 16 June 2021, the following parties are required to abstain and did in fact abstain from voting on Resolution 1 and Resolution 2:

Resolution	Name	Number of Units	As a percentage
number		held	of the total Units
			in issue (%)(1)
Ordinary	Ascendas Land International	725,632,766	17.42
Resolution 1	(Investments) Pte. Ltd.
	Ascendas Funds Management	25,979	N.M.(2)
	(S) Limited
Ordinary	Ascendas Land International	725,632,766	17.42
Resolution 2	(Investments) Pte. Ltd.
	Ascendas Funds Management	25,979	N.M.(2)
	(S) Limited

Note:

1. Calculated based on the total number of 4,166,055,368 Units in issue as at 16 June 2021, rounded to the nearest two decimal places.
2. Not meaningful.

In keeping with good corporate governance practice, Mr Lim Cho Pin Andrew Geoffrey, a Non- Executive Non-Independent Director of the Manager, and Mr William Tay Wee Leong, the Chief Executive Officer and an Executive Non-Independent Director of the Manager, have also voluntarily abstained from voting on the resolution in respect of their respective holdings of Units.

1. Appointed scrutineer
   DrewCorp Services Pte Ltd was appointed as scrutineer for the EGM.

BY ORDER OF THE BOARD

ASCENDAS FUNDS MANAGEMENT (S) LIMITED (Company Registration No. 200201987K)

As manager of Ascendas Real Estate Investment Trust

Mary Judith de Souza Company Secretary 16 June 2021

2

Important Notice

The past performance of Ascendas Real Estate Investment Trust ("Ascendas Reit") is not indicative of future performance. The listing of the units in Ascendas Reit ("Units") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, Ascendas Funds Management (S) Limited, as manager of Ascendas Reit (the "Manager") or any of its 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 on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST.

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.

3