General Announcement::Payment of Management Fee by Way of Issue of Units in Sasseur Real Estate Investment Trust

SASSEUR REAL ESTATE INVESTMENT TRUST

(a real estate investment trust constituted on 30 October 2017

under the laws of the Republic of Singapore)

PAYMENT OF MANAGEMENT FEE

BY WAY OF ISSUE OF UNITS IN SASSEUR REAL ESTATE INVESTMENT TRUST

The Board of Directors of Sasseur Asset Management Pte. Ltd., as manager of Sasseur Real Estate Investment Trust ("Sasseur REIT"), wishes to announce that 2,684,030 Units ("Management Fee Units") in Sasseur REIT have been issued at a price of S$0.8656 per Unit as payment of the base fee component of the management fee for the period from 1 July 2021 to 30 September 2021 (the "Financial Period").

The issue price per Management Fee Unit is the volume weighted average traded price for a unit for all trades done on the Singapore Exchange Securities Trading Limited (the "SGX-ST") in the ordinary course of trading for the last ten business days immediately preceding 30 September 2021, being the end date of the Financial Period.

The payment of the management fee and the manner of such payment are provided in the trust deed dated 30 October 2017 (as supplemented) constituting Sasseur REIT (the "Trust Deed"). It is provided in the Trust Deed that the Manager may elect to receive the Base Fee and Performance Fee in cash or Units or a combination of cash and Units (as it may in its sole discretion determine). The Manager had agreed to receive 100.0% of the Base Fee component in the form of Units for the Financial Period.

Following the issuance of the Management Fee Units, the Manager holds 14,075,876 units in Sasseur REIT, representing 1.1565% of the total number of issued units in Sasseur REIT. The total number of issued units in Sasseur REIT after the issuance of Management Fee Units and as at the date of this announcement is 1,217,119,076.

By Order of the Board

Sasseur Asset Management Pte. Ltd. (Company registration no. 201707259N)

(as Manager of Sasseur Real Estate Investment Trust)

Tan Hong Lye, Cecilia

Chief Executive Officer

15 December 2021

The value of the units of Sasseur REIT ("Units") and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by the Manager, DBS Trustee Limited, as trustee of Sasseur REIT, Sasseur Cayman Holding Limited, as the sponsor of Sasseur REIT or any of their respective affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Holders of Units (the "Unitholders") have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.