Ascendas India Trust : Issue Of Jpy5,000,000,000 0.67375 Per Cent. Notes Due 2023

(Registration Number: 2007004)

(a business trust registered under the Business Trusts Act, Chapter 31A of Singapore)

ISSUE OF JPY5,000,000,000 0.67375 PER CENT. NOTES DUE 2023 ("SERIES 008 NOTES") PURSUANT TO THE S$500,000,000 MULTICURRENCY DEBT ISSUANCE PROGRAMME (THE "PROGRAMME")

Following the announcement dated 20 March 2018 on the pricing of the Series 008 Notes, Ascendas Property Fund Trustee Pte. Ltd. (in its capacity as Trustee-Manager of Ascendas India Trust ("a-iTrust"), the "Trustee-Manager") is pleased to announce that a-iTrust has issued the Series 008 Notes under the Programme on 10 April 2018. Mizuho Securities Asia Limited was appointed as the dealer of the Series 008 Notes. The Series 008 Notes will mature on 10 April 2023.

Pursuant to Rule 704(31) of the SGX-ST Listing Manual, a-iTrust wishes to announce that the Series 008 Notes contain the following conditions ("Relevant Conditions") making reference to controlling unitholders' interests in a-iTrust or places restrictions on a change of control of a-iTrust or the Trustee-Manager:

• (a) it is an event of default if Ascendas Pte Ltd ceases to own beneficially, directly or indirectly through one or more wholly-owned subsidiaries, at least 51% of the issued share capital of the Trustee-Manager; and

• (b) it is an event of default if the Trustee-Manager is removed pursuant to the terms of the trust deed constituting a-iTrust (the "a-iTrust Trust Deed") and the replacement or substitute trustee-manager is not appointed in accordance with the terms of the a-iTrust Trust Deed.

Neither of the events described under the Relevant Conditions has occurred. Assuming such an event occurs and causes a cross-default under other borrowings of a-iTrust, the aggregate level of facilities that may be affected is approximately S$576,000,000 (excluding interest) as at the date of this announcement. Please note that this amount does not include any termination amount that may be payable or receivable by a-iTrust pursuant to an early termination of any cross-currency and/or interest swap transaction.

BY ORDER OF THE BOARD

Ascendas Property Fund Trustee Pte. Ltd.

(as Trustee-Manager for Ascendas India Trust)

Mary Judith de Souza

Company Secretary 10 April 2018