Keppel Telecom & Transport : Completion of Acquisition of 99.0% Interest in KDC SGP 4

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, EU MEMBER STATES, CANADA OR JAPAN, NOTHING IN THIS ANNOUNCEMENT CONSTITUTES AN OFFER TO BUY, OR A SOLICITATION OF AN OFFER TO SELL, SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION PURSUANT TO THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR AN EXEMPTION FROM REGISTRATION. ACCORDINGLY, THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT WILL BE OFFERED AND SOLD (I) OUTSIDE THE UNITED STATES ONLY IN "OFFSHORE TRANSACTIONS" (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT ("REGULATION S") IN ACCORDANCE WITH REGULATION S OR (II) WITHIN THE UNITED STATES ONLY TO "QUALIFIED INSTITUTIONAL BUYERS" (AS DEFINED UNDER RULE 144A OF THE SECURITIES ACT) WHO ARE ALSO INSTITUTIONAL "ACCREDITED INVESTORS" (AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) AND WHO HAVE DELIVERED TO THE MANAGER AND THE JOINT UNDERWRITERS A SIGNED REPRESENTATION LETTER IN SUCH FORM AS THEY MAY PRESCRIBE.

Keppel DC REIT Management Pte. Ltd.

Level 2 Keppel Bay Tower

Singapore 098632

www.keppeldcreit.com

COMPLETION OF ACQUISITION OF 99.0% INTEREST IN THE COMPANY WHICH HOLDS KEPPEL DC SINGAPORE 4 LOCATED AT 20 TAMPINES STREET 92, SINGAPORE 528875 AND USE OF PROCEEDS OF THE EQUITY FUND RAISING

Capitalised terms used herein, unless otherwise defined, shall have the meanings ascribed to them in the announcement of Keppel DC REIT dated 16 September 2019 in relation to the proposed acquisitions of 99.0% interest in the company which holds Keppel DC Singapore 4 ("KDC SGP 4") and 100.0% interest in the company which holds the data centre located at 18 Riverside Road, Singapore 739088 (the "Acquisition Announcement").

1. COMPLETION OF ACQUISITION OF 99.0% INTEREST IN KDC SGP 4

Further to the Acquisition Announcement, Keppel DC REIT Management Pte. Ltd., in its capacity as manager of Keppel DC REIT (the "Manager"), is pleased to announce that Keppel DC REIT has today completed the acquisition of KDC SGP 4, through the acquisition of 9,900,000 ordinary shares being 99.0% of the issued share capital in KDCS4PL, which holds KDC SGP 4 (the "Completion"). Following the Completion, KDCS4PL is now a subsidiary of Keppel DC REIT.

In connection with the Completion, KDCS4PL has also entered into the Facility Management Agreement, the Business Transfer Agreement and the Keppel Lease Agreement.

2. USE OF PROCEEDS FROM THE EQUITY FUND RAISING

Further to the announcement dated 16 September 2019 in relation to the launch of an equity fund raising (the "Equity Fund Raising") and the announcement dated 31 October 2019 in relation to the use of proceeds from the Equity Fund Raising, the Manager is pleased to announce that of the gross proceeds of approximately S$478.2 million from the Equity Fund Raising, S$236.8 million (which is equivalent to 49.5% of the gross proceeds of the Equity Fund Raising) has been used to partially fund the acquisition of 99.0% interest in KDC SGP 4.

Such use is in accordance with the stated use and in accordance with the percentage allocated in the announcement dated 16 September 2019 in relation to the Equity Fund Raising.

The Manager will make further announcements on the utilisation of the remaining proceeds from the Equity Fund Raising as and when such funds are materially disbursed.

Keppel DC REIT Management Pte. Ltd. (Company Registration No. 199508930C) as manager of Keppel DC REIT

Winnie Mak / Kelvin Chua

Company Secretaries

21 November 2019

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Important Notice:

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units.

This announcement may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies and venues for the sale or distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's view of future events. The past performance of Keppel DC REIT and the Manager are not necessarily indicative of the future performance of any of them.

The value of 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, or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited ("SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

The New Units have not been and will not be registered under the Securities Act or the securities laws of any state or jurisdiction of the United States, or under the securities law of any other jurisdiction, and may not be offered, sold, resold, granted, delivered, allotted, taken up or transferred, directly or indirectly, in the United States, except pursuant to an exemption from the registration requirements of the Securities Act and in compliance with applicable laws.

The New Units may be offered or sold only (a) outside the United States only in "offshore transactions" (as defined in Regulation S) in accordance with Regulation S or (b) within the United States only to "qualified institutional buyers" (as defined in Rule 144A of the Securities Act) who are also institutional "accredited investors" (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and who have delivered to the Manager and the Joint Underwriters a signed representation letter in such form as they may prescribe.

Notification under Section 309B of the Securities and Futures Act, Chapter 289 of Singapore: The New Units are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12:Notice on the Sale of Investment Products and MAS Notice FAA-N16:Notice on Recommendations on Investment Products).

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