Mapletree Commercial Trust : Proposed Merger by way of a Trust Scheme of Arrangement (Dealings Disclosure)

To: An Authorised Person

For and on behalf of Mapletree Commercial Trust Management Ltd.

From: BlackRock, Inc.1

Relationship to MCT: Associate of MCT

Date: 10th January 2022

	1. Disclosure of Dealings in MCT units ("MCT Units") during the Trust Scheme Period
	Date of	Nature of Dealing	Number of MCT	Number of MCT		Price	Holdings in	Name of Registered Holder
	Purchase/Sale				Units	Units		Transacted	MCT Units	or Identity of Principal or
					Bought/Increased	Sold/Decreased		per MCT Unit	following the	Associate or other Person
									Transaction	Dealing
	7-Jan-22	Market	BUY	3,200			1.83 SGD	139,964,275	BlackRock, Inc.
		Purchase
	7-Jan-22	Market	BUY	800			1.83 SGD	139,965,075	BlackRock, Inc.
		Purchase
	7-Jan-22	Market	BUY	42,800			1.83 SGD	140,007,875	BlackRock, Inc.
		Purchase
	7-Jan-22	Market	SELL		56,400		1.83 SGD	139,951,475	BlackRock, Inc.
		Purchase
	7-Jan-22	Market	SELL		13,000		1.83 SGD	139,938,475	BlackRock, Inc.
		Purchase
	7-Jan-22	Market	BUY	5,100			1.84 SGD	139,943,575	BlackRock, Inc.
		Purchase
	7-Jan-22	Market	BUY	15,500			1.84 SGD	139,959,075	BlackRock, Inc.
		Purchase
1	Dealings on behalf of investment clients have been made on a discretionary (not non-discretionary) basis.

7-Jan-22	Market	BUY	21,200		1.84 SGD	139,980,275	BlackRock, Inc.
	Purchase
7-Jan-22	Market	BUY	40,300		1.84 SGD	140,020,575	BlackRock, Inc.
	Purchase
7-Jan-22	Market	BUY	18,900		1.84 SGD	140,039,475	BlackRock, Inc.
	Purchase
7-Jan-22	Market	BUY	3,700		1.8302 SGD	140,043,175	BlackRock, Inc.
	Purchase
7-Jan-22	Market	BUY	1,500		1.8302 SGD	140,044,675	BlackRock, Inc.
	Purchase
7-Jan-22	Market	BUY	8,200		1.8302 SGD	140,052,875	BlackRock, Inc.
	Purchase
7-Jan-22	Market	SELL		57,000	1.8249 SGD	139,995,875	BlackRock, Inc.
	Purchase
7-Jan-22	In-specie	In	45,500		N/A	140,041,375	BlackRock, Inc.
	Transfer

BlackRock, Inc. owns or controls 140,041,375 MCT Units after the dealings reported above, representing approximately 4.22% of the total number of issued MCT Units2.

2. Disclosure of Dealings in MNACT units ("MNACT Units") during the Trust Scheme Period

Date of	Nature of Dealing	Number of MNACT	Number of	Price	Holdings in	Name of Registered
Purchase/Sale			Units	MNACT Units	Transacted	MNACT Units	Holder or Identity of
			Bought/Increased	Sold/Decreased	per MNACT	following the	Principal or
					Unit	Transaction	Associate or other
							Person Dealing
7-Jan-22	Market	In-specie	18,500		N/A	72,328,841	BlackRock, Inc.
	Purchase	Transfer
7-Jan-22	Stock Loan	Loan Return	538,354		N/A	72,867,195	BlackRock, Inc.
7-Jan-22	Stock Loan	Loan		1,000,000	N/A	71,867,195	BlackRock, Inc.

2Based on 3,322,353,562 MCT Units outstanding as at the date hereof.

BlackRock, Inc. owns or controls 71,867,195 MNACT Units after the dealings reported above, representing approximately 2.04% of the total number of issued MNACT Units3.

3. Disclosure of Dealings in Convertible Securities, Warrants, Options and Derivatives in respect of MCT Units ("Relevant MCT Securities") during the Trust Scheme Period

			Number(2) of	Exercise Date			Name of Registered
Date of	Nature of Transaction (Buy /	/ Maturity	Price per	Holdings and Resultant	Holder or Identity of
Reference	Date /	Percentage (%) in MCT Units	Principal or Associate
Transaction(1)	Sell / Settlement)	MCT Unit(4)
MCT Units	Closing-Out	following Transaction	or other Person
				Date(3)			Dealing
7-Jan-22	Contract for	BUY TO	48,100	N/A	1.8319 SGD	See Question 1 above - this	BlackRock, Inc.
CLOSE		Transaction does not result in a
	difference
					change in holdings in MCT
	(cash-settled				1.8376 SGD
7-Jan-22	BUY	38,400	N/A	Units, on the basis that the	BlackRock, Inc.
only)
					Transaction is cash-settled

1. In respect of derivatives, this would be the date of entering into or closing out of the derivative.
2. In respect of derivatives, this would be the number of reference securities to which they relate.
3. In respect of derivatives, this would be the maturity date of such derivatives.
4. In respect of derivatives, this would be the reference price of such derivatives.

Other arrangements in relation to MCT Units or Relevant MCT Securities (if applicable): N/A

4. Disclosure of Dealings in Convertible Securities, Warrants, Options and Derivatives in respect of MNACT Units ("Relevant MNACT Securities") during the Trust Scheme Period

								Holdings and	Name of Registered
				Number(2)		Exercise Date /		Resultant
				of		Holder or Identity of
Date of	Nature of Transaction	Maturity Date /	Price per	Percentage (%)
Reference MNACT	Principal or Associate
Transaction(1)	(Buy / Sell / Settlement)	Closing-Out	MNACT Unit(4)	in MNACT Units
Units		or other Person
					Date(3)		following
							Dealing
								Transaction

3Based on 3,527,974,156 MNACT Units outstanding as at the date hereof.

1. In respect of derivatives, this would be the date of entering into or closing out of the derivative.
2. In respect of derivatives, this would be the number of reference securities to which they relate.
3. In respect of derivatives, this would be the maturity date of such derivatives.
4. In respect of derivatives, this would be the reference price of such derivatives.

Other arrangements in relation to MNACT Units or Relevant MNACT Securities (if applicable): N/A

The information relating to us/me or my close relatives (if applicable) is provided to the best of our/my knowledge, on a "best efforts" basis. I/We confirm that I/we agree to the MCT Manager disclosing the information provided herein to the Securities Industry Council and other regulatory authorities as may be required or necessary, such other persons as the MCT Manager may in its absolute discretion deem necessary or appropriate and in any public document which may be required by any regulatory authority or by any law or regulation (including, without limitation, the Singapore Code on Take-overs and Mergers).

I/We will promptly notify the MCT Manager should any of the said information prove to be untrue or incorrect in any respect between the date of this disclosure and the latest practicable date prior to the printing of the Scheme Document. In the absence of such notification, the parties involved in the preparation of the Scheme Document are entitled to assume that the information hereby furnished is true, accurate and complete and remains unchanged.

Yours faithfully

_______________________________

Name: Anh Do on behalf of BlackRock, Inc.