LMIRT Management Ltd., in its capacity as manager of Lippo Malls Indonesia Retail Trust ("LMIR Trust" and as manager of LMIR Trust, the "Manager"), announced that LMIR Trust, through its wholly-owned subsidiaries, has obtained a new secured amortising term loan facility of up to IDR 2,500,000,000,000 (equivalent to SGD 209,450,0001) with an average life of approximately 8 years based on terms and conditions set out in a facility agreement dated 28 May 2024 (the "Facility Agreement") (the "Facility"). Approximately IDR 2,315,000,000,000 (equivalent to SGD 193,951,0001) proceeds from the Facility will be used to prepay LMIR Trust's existing SGD-denominated secured bank loans sometime in June 2024. The balance proceeds from the Facility will likely be available for drawdown only in Third Quarter 2024 upon satisfaction of certain conditions under the Facility.

Pursuant to Rule 704(31) of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "SGX-ST"), the Facility Agreement includes a condition whereby a mandatory prepayment event ("Prepayment Event") occurs if: PT Lippo Karawaci Tbk ("LPKR") ceases to be the single largest unitholder of LMIR Trust and the ultimate shareholder/owner of LPKR as stipulated in its disclosure document which has been submitted by LPKR to the relevant capital market institution which can be accessed by the public, as at the date of the Facility Agreement, is no longer the ultimate shareholder. LPKR is no longer the ultimate shareholder2 (whether directly or indirectly) of LMIRT Management Ltd. Should a Prepayment Event occur, the aggregate level of loan facilities of LMIR Trust that may be affected as at the date of this announcement is approximately SGD 357,250,000 (excluding interest). Meanwhile, the aggregate level of loan facilities of LMIRT Capital Pte.

Ltd. and other subsidiary of the LMIR Trust that may be affected as at the date of this announcement is approximately SGD 633,491,000. For the avoidance of doubt, this does not take into account the amount of the loan facilities which have not been drawn down, including in respect of the Facility.