General Announcement::SPH REIT ANNOUNCEMENT

(Registration No: 201305497E)

(Incorporated in the Republic of Singapore)

ANNOUNCEMENT

ANNOUNCEMENT PURSUANT TO RULE 704(31) OF THE LISTING MANUAL OF THE

SINGAPORE EXCHANGE SECURITIES TRADING LIMITED

DBS Trustee Limited, in its capacity as trustee of SPH REIT, had a secured term loan facility of S$975 million (the "Facility") pursuant to a facility agreement dated 9 July 2013 (the "Facility Agreement") which was further amended by a restated facility agreement dated 26 August 2021 (the "Fourth Amended and Restated Facility Agreement").

SPH REIT Management Pte. Ltd., as manager of SPH REIT (the "Manager") now wishes to announce that pursuant to the Fourth Amended and Restated Facility Agreement, an incremental facility notice (together with the Facility, the "Aggregate Facilities") was established for a five-year loan of S$50 million.

The proceeds from the incremental facility will be used to refinance the existing loans.

Pursuant to Rule 704(31) of the Listing Manual of Singapore Exchange Securities Trading Limited, the Fourth Amended and Restated Facility Agreement contains, inter alia, two provisions on change of control that are the same as those in the Facility Agreement, as set out below:

1. Singapore Press Holdings Limited, the sponsor of SPH REIT (the "Sponsor"), shall directly or indirectly own at least 30% of the units of SPH REIT; and
2. the Sponsor shall directly or indirectly own 100% of the Manager,

(the "Conditions").

If a breach of the Conditions occurs, the lenders in respect of the Aggregate Facilities are entitled to require a repayment of the Aggregate Facilities.

As at the date of this announcement, there has not been any breach of the Conditions, and the Sponsor has not entered into any share pledge arrangement in relation to its current shareholding in the Manager.

Issued by SPH REIT Management Pte. Ltd. As manager of SPH REIT

17 December 2021

IMPORTANT NOTICE

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

The value of Units and the income derived from them, if any, may fall or 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 should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on Singapore Exchange Securities Trading Limited (the "SGXST"). It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. The listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.