IN RELATION TO THE PROPOSED MERGER OF ESR-REIT AND SABANA SHARI'AH COMPLIANT REAL

ESTATE INVESTMENT TRUST BY WAY OF A TRUST SCHEME OF ARRANGEMENT

DEALINGS DISCLOSURE

  1. INTRODUCTION
    On 16 July 2020, the respective boards of directors of ESR Funds Management (S) Limited, as manager of ESR-REIT, and Sabana Real Estate Investment Management Pte. Ltd., as manager of Sabana Shari'ah Compliant Real Estate Investment Trust ("Sabana REIT", and the manager of Sabana REIT, the "Sabana Manager"), announced (the "Joint Announcement") the proposed merger (the "Merger") of ESR-REIT and Sabana REIT. The Merger will be effected through the acquisition by RBC Investor Services Trust Singapore Limited (in its capacity as trustee of ESR-REIT) of all the units of Sabana REIT (the "Sabana Units") held by the unitholders of Sabana REIT, in exchange for units in ESR-REIT (the "ESR-REITUnits"), by way of a trust scheme of arrangement in compliance with the Singapore Code on Take-overs and Mergers. Credit Suisse (Singapore) Limited ("CS Singapore") is one of the joint financial advisers to the Sabana Manager in relation to the Merger, the other joint financial adviser being The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, and CS Singapore is part of Credit Suisse Group AG and its subsidiaries (the "CS Group").
    All capitalised terms used and not defined herein shall have the same meanings as ascribed to them in the Joint Announcement.
  2. DEALINGS
    Pursuant to Rule 12.1 of the Code and the Practice Statement on the Exemption of Connected Fund Managers and Principal Traders under the Code issued by the Securities Industry Council on 1 February 2018 (the "Practice Statement"), CS Singapore wishes to announce the dealings in relevant securities by CS Singapore and its associates on 3 December 2020.
    The resultant holdings in ESR-REIT Units following the transactions on 3 December 2020 is 21,283,945 and the resultant total percentage is 0.5998%1.

Issued by

CREDIT SUISSE (SINGAPORE) LIMITED

4 December 2020

1 The percentage shareholding is computed based on the total issued equity capital of ESR-REIT being 3,548,712,812 ESR-REIT Units, as set out in the announcement dated 26 November 2020 by ESR Funds Management (S) Limited, as manager of ESR-REIT.

DEALINGS ON 3 DECEMBER 2020

Party

Type of

Nature of Investment Clients

Date of

Total

Price Transacted

(In relation to

Involved

Security

and Nature of Dealing

Dealing

Number of

and (in relation to

transactions involving

(ESR-REIT

Securities /

transactions

Exempt Principal

Units,

Reference

involving Exempt

Traders) Highest and

Sabana

Securities

Principal Traders)

Lowest Prices Paid

Units,

(as

Total Amount Paid

and/or Received

Convertible

applicable)

and/or Received

Securities,

Options,

Warrants or

Derivatives)

Credit Suisse

Derivatives

Sale of cash settled swap

3 December

800

SGD 0.400 /

Highest: SGD 0.400 and

AG, Dublin

in respect of

derivative to non-discretionary

2020

SGD 320.00

Lowest: SGD 0.400

branch

ESR-REIT

client in order for client to unwind

Units

their derivative position with trade

date 3 December 2020 and

settlement date 7 December 2020

("Trade A").

Credit Suisse

ESR-REIT

Purchase of securities from

3 December

800

SGD 0.400 /

Highest: SGD 0.400 and

(Hong Kong)

Units

previous hedge sale of cash settled

2020

SGD 320.00

Lowest: SGD 0.400

Limited

swap derivative referred to above

in Trade A.

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ESR-REIT published this content on 04 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 December 2020 04:08:05 UTC