Ascendas India Trust : Payment Of Base Fee By Way Of Issue Of New Units In Ascendas India Trust

ASCENDAS INDIA TRUST

(Registration Number: 2007004)

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

Ascendas Property Fund Trustee Pte. Ltd. ("APFT"), as Trustee-Manager of Ascendas India Trust ("a-iTrust"), wishes to announce that 733,934 units in a-iTrust have been issued to APFT on 28 April 2017.

The units were issued to APFT pursuant to the Trust Deed dated 28 June 2007 ("Trust Deed"), as payment of 50% of the Base Fee (as defined in the Trust Deed) for the period from 1 January 2017 to 31 March 2017. The balance of the Base Fee of S$803,070.68 was paid in cash.

The number of units was determined based on an issue price of S$1.0942 per unit, which was the volume weighted average traded unit price for all the trades on the Singapore Exchange Securities Trading Limited in the ordinary course of trading for the last 10 trading days of the relevant period in which the Base Fee accrues (as provided in the Trust Deed). The timing of the issue of the units to the Trustee- Manager is in accordance with the payment timing as defined in the Trust Deed, which is within 30 days of the last day of every calendar quarter in arrears.

With the above-mentioned issue of units, APFT holds an aggregate of 41,454,754 units and the total number of units in issue as at 28 April 2017 is 931,265,116.

By Order of the Board

Mary Judith de Souza Company Secretary

Ascendas Property Fund Trustee Pte. Ltd. as Trustee-Manager of a-iTrust

28 April 2017