Link Real Estate Investment Trust : Appointment of Independent Non-Executive Director and Chief Financial Officer

The Securities and Futures Commission of Hong Kong, Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

AND

CHIEF FINANCIAL OFFICER

The Board is pleased to announce that:

• (A) Mr BROOKE has been appointed as an INED of the Manager on 1 May 2018; and

• (B) Mr NG will join the Manager as CFO and become a member of the FIC of the Manager on 3 May 2018.

APPOINTMENT OF INED

The board of directors (the Board) of Link Asset Management Limited (the Manager), as manager of Link Real Estate Investment Trust (LINK), is pleased to announce that Mr Christopher John BROOKE (Mr BROOKE) has been appointed as an independent non-executive director (the INED) of the Manager on 1 May 2018.

The biography of Mr BROOKE containing information required under Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the Listing Rules) as if they were applicable to LINK is set out below:

Mr Christopher John BROOKE

Mr BROOKE, aged 49, is a Co-Founder and Director of Brooke Husband Limited, a real estate consulting practice based in Hong Kong. Mr BROOKE is a Chartered Surveyor, Fellow of the Royal Institution of Chartered Surveyors (RICS) and a member of The Hong Kong Institute of Surveyors. He is currently the global President Elect and a member of the Governing Council of the RICS. In addition, he is a member of the Urban Land Institute and a Director of the Hong Kong Rugby Union. Mr BROOKE held a number of senior management positions at CBRE, relating to both China and Asia, between July 2002 and December 2015 (including his last position as Executive Managing Director, Consulting, Asia Pacific). Mr BROOKE was also a long standing member of the Asia Pacific Strategic Group within CBRE. He held various positions at Brooke Hillier Parker, Brooke International and Insignia Brooke between March 1992 and July 2003 before joining CBRE in 2003 via the acquisition of Insignia Brooke by CBRE. Mr BROOKE started his career in 1989 as a graduate surveyor at Hillier Parker in the United Kingdom, prior to relocating to Hong Kong in 1992.

Mr BROOKE obtained a Bachelor of Arts degree in Land Economy from the University of Cambridge, United Kingdom.

Save as disclosed above, Mr BROOKE did not hold any directorship in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years immediately preceding the date of this announcement.

Mr BROOKE has entered into a letter of appointment with the Manager pursuant to which he has been appointed as an INED of the Manager for a specific term of three years from 1 May 2018 up to (and including) 30 April 2021 (which is renewable upon expiry). He is subject to retirement and re-election at annual general meetings in accordance with the articles of association of the

Manager and the relevant laws and regulations. Pursuant to his letter of appointment, Mr BROOKE is entitled to a director's fee for serving the Board, the amount of which shall be determined by the Board upon the recommendation of the Remuneration Committee (RC) of the Manager. For the financial year ending 31 March 2019, annual fee paid to each INED will be HK$540,000. The amount of fee payable to Mr BROOKE, pro-rated to his actual number of days in office, for serving as an INED for the financial year ending 31 March 2019, upon review by the RC and determined by the Board, will be disclosed in LINK's Annual Report accordingly. Mr BROOKE is also eligible to participate in the long-term incentive scheme of LINK pursuant to which grant of awards is discretionary and subject to approval by the Board upon recommendation of the RC.

As at the date of this announcement, Mr BROOKE has no interest in the units of LINK within the meaning of Part XV of the Securities and Futures Ordinance. He does not have any relationships with other directors or senior management of the Manager, or any significant unitholders of LINK (the Unitholders) (within the meaning of "significant holder" under 8.1(d) of Chapter 8 of the Code on Real Estate Investment Trusts) or controlling Unitholders. Mr BROOKE has confirmed that he has satisfied the independence criteria under the corporate governance policy of the Manager in its compliance manual (the Compliance Manual).

Save as disclosed above, there is no other information which is required to be disclosed pursuant to paragraphs (h) to (v) of Rule 13.51(2) of the Listing Rules (as if such provisions were applicable to LINK) nor are there any other matters that need to be brought to the attention of the Unitholders in connection with the appointment of Mr BROOKE.

APPOINTMENT OF CFO

The Board is also pleased to announce that Mr NG Kok Siong (Mr NG) will join the Manager as the Chief Financial Officer (CFO) and a member of the Finance and Investment Committee (FIC) of the

Manager on 3 May 2018.

Mr NG will report to the Chief Executive Officer (CEO) and spearhead the finance, treasury, insurance, risk management, research and data analytics functions of the Manager. Mr NG is not a member of the Board.

The brief biography of Mr NG is set out below:

Mr NG Kok Siong

Mr NG, aged 46, joins the Manager after serving 13 years with CapitaLand Limited, (a company listed on Singapore Exchange), in various senior positions including the role of Chief Financial

Officer of CapitaMalls Asia Limited. In his most recent role as the Group Chief Digital Officer of

CapitaLand, he was responsible for developing technology strategy and building digitalisation capabilities.

In addition, Mr NG had been a Director and Audit Committee member of two real estate investment trust (REITs) in Singapore and Malaysia, namely CapitaLand Retail China Trust Management Limited (the manager of CapitaLand Retail China Trust listed on Singapore Exchange) and CapitaLand Malaysia Mall REIT Management Sdn. Bhd. (the manager of CapitaLand Malaysia Mall Trust listed on Bursa Malaysia Securities Berhad).

Prior to joining CapitaLand, Mr NG held various positions in planning and appraisal, information systems, finance and investment management in ExxonMobil and Royal Dutch Shell across Asia and Europe.

Mr NG graduated with a Degree of Bachelor of Accountancy (Honours) from Nanyang Technological University of Singapore and attended the Tuck Executive Program at Dartmouth College.

The Board would like to welcome Mr BROOKE and Mr NG joining LINK.

The Board would also like to inform that Mr Andy CHEUNG Lee Ming (Mr CHEUNG) remains the Executive Director of the Manager and a member of the Board but has changed to take up the role of Chief Operating Officer (COO) of the Manager since 1 February 2018. Following the change to become the COO, Mr CHEUNG ceased to be a member of the FIC. Being the COO, Mr CHEUNG reports to the CEO and is responsible for supervising the project and development, property management and operations, legal and company secretarial and information technology functions of the Manager. During the period from 1 February 2018 to 2 May 2018, Mr Hubert CHAK, Director of Finance, took up the role of Acting CFO pending the joining of Mr NG on 3 May 2018.

COMPOSITION OF THE BOARD AND BOARD COMMITTEES

Following the above-mentioned appointments, the composition of the Board and the four existing Board Committees of the Manager effective from 3 May 2018 is set out below:

Notes:

ARMC : Audit and Risk Management Committee / NC : Nomination Committee / C : Chairman / M : Member

The Manager confirms that the composition of the Board and all the four Board Committees continue to comply with the requirements of the corporate governance policy set out in the Compliance Manual.

By order of the Board

Link Asset Management Limited

(as manager of Link Real Estate Investment Trust)

Ricky CHAN Ming Tak

Company Secretary

Hong Kong, 2 May 2018

As at the date of this announcement, the Board of the Manager comprises:

Chairman (also an Independent Non-Executive Director)

Nicholas Charles ALLEN

Executive Directors

George Kwok Lung HONGCHOY (Chief Executive Officer) Andy CHEUNG Lee Ming (Chief Operating Officer)

Non-Executive Director

Ian Keith GRIFFITHS

Independent Non-Executive Directors Christopher John BROOKE

Ed CHAN Yiu Cheong Blair Chilton PICKERELL Poh Lee TAN

May Siew Boi TAN Peter TSE Pak Wing Nancy TSE Sau Ling David Charles WATT Elaine Carole YOUNG