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

(Registration Number: 2007004)

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

ANNOUNCEMENT: PAYMENT OF BASE FEE BY WAY OF ISSUE OF NEW UNITS IN

ASCENDAS INDIA TRUST

Ascendas Property Fund Trustee Pte. Ltd. ("APFT"), the Trustee-Manager of Ascendas India Trust ("a-iTrust"), wishes to announce that 759,153 units ("Units") in a-iTrust have been issued to APFT on 30 January 2018.

The Units were issued to APFT pursuant to the Trust Deed constituting a-iTrust dated 28 June 2007 (as amended) ("Trust Deed") as payment of 50% of the Base Fee (as defined in the Trust Deed) for the period from 1 October 2017 to 31 December 2017. The balance 50% of the Base Fee was paid in cash.

The number of Units was determined based on an issue price of S$1.1437 per Unit, which was the volume weight 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 APFT is in accordance with the Trust Deed (i.e. 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 45,583,650 units and the total number of units in issue as at 30 January 2018 is 935,394,012.

By Order of the Board

Mary Judith de Souza Company Secretary

Ascendas Property Fund Trustee Pte. Ltd. (Company Registration No. 200412730D) as Trustee-Manager of a-iTrust

30 January 2018