METRO HOLDINGS LIMITED

(Company Registration No. 197301792W)

Disclosure under Rule 704(17)(b) of the Listing Manual

The Board of Directors of Metro Holdings Limited ("Metro" or the "Company") wishes to announce that Metro ARC Investments Pte Ltd (formerly known as Metro Holdings (Japan) Pte Ltd), a wholly-owned subsidiary of the Company, has acquired 51,625,000 units in Daiwa House Logistics Trust ("DHLT") representing approximately 7.65 per cent. of the issued units of DHLT as a cornerstone investor to the Initial Public Offering of DHLT (the "Acquisition").

Following the Acquisition, the Group's aggregate cost of investment in quoted securities has increased to 5.38% of its latest audited consolidated net tangible assets ("NTA"). Details relating to the Group's cost of investment in and value of these quoted investments are as follows:

S$

% of NTA

Aggregate cost of quoted investments before

43.0 million

2.74%

acquisition*

Aggregate cost of quoted investments after

84.3 million

5.38%

acquisition

Market value of quoted investments before

27.2 million

N.A.

acquisition

Market value of quoted investments after

68.5 million

N.A.

acquisition

Amount of provision for diminution in value of

18.4 million

N.A.

investments

*Excluding Metro Group's holdings in Top Spring International Holdings Ltd, an associated company of the Group and is listed on the Hong Kong Stock Exchange, following the amendment to Rule 704(17) in Feb 2020.

By Order of the Board

Tan Ching Chek and Eve Chan Bee Leng

Joint Company Secretaries

29 November 2021

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Metro Holdings Limited published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 09:59:10 UTC.