Trades by Directors/Substantial Unitholders

Remarks
Receipt of 193,835 units under CapitaLand Ascendas REIT Management Limited Performance Unit Plan and CapitaLand Ascendas REIT Management Limited Restricted Unit Plan.

Immediately after the transaction

No. of ordinary voting shares/units held: 535225 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.01300000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of total no. of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" is calculated based on 4,203,990,865 units in issue as at 15 December 2022.

Remarks
Final number of 223,573 units awarded under CapitaLand Ascendas REIT Management Limited Performance Unit Plan and CapitaLand Ascendas REIT Management Limited Restricted Unit Plan.

Immediately after the transaction

No. of rights/options/warrants held: 254,063
No. of shares/units underlying the rights/options/warrants: 406,901

Immediately before the transaction:

No. of rights/options/warrants held: 395,833 comprises:
(i) 214,016* Awards under CapitaLand Ascendas REIT Management Limited Performance Unit Plan ("PUP");
(ii) 96,473^ unvested units under CapitaLand Ascendas REIT Management Limited Restricted Unit Plan ("RUP"); and
(iii) 85,344*^ Awards under RUP.

No. (if known) of shares/units underlying the rights/options/warrants: 652,521 comprises:
(i) up to 428,032* units under PUP;
(ii) 96,473^ units under RUP; and
(iii) up to 128,016*^ units under RUP.

Immediately after the transaction:

No. of rights/options/warrants held: 254,063 comprises:
(i) 152,838 Awards* under PUP
(ii) 101,225^ unvested units under RUP

No. (if known) of shares/units underlying the rights/options/warrants: 406,901 comprises:
(i) up to 305,676* units under PUP
(ii) 101,225^ units under RUP

Awards refers to contingent baseline units awards.

* the final number of units to be released will depend on the achievement of pre-determined targets at the end of the respective performance periods for PUP and RUP.

^ on the final vesting, an additional number of units of a total value equal to the value of the accumulated distributions which are declared during each of the vesting periods and deemed foregone due to the vesting mechanism of RUP, will also be released.

Remarks
Transfer of 580,831 units in CLAR from CLARML's unitholding to its key management personnel and eligible employees under its Restricted Unit Plan and Performance Unit Plan.

Immediately after the transaction

No. of ordinary voting shares/units held: 159169 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00300000 (Direct Interest); 0.00000000 (Deemed Interest)

1. The percentage of total number of units "Immediately before the transaction" and "Immediately after the transaction" is based on 4,203,990,865 units as at 15 December 2022.

2. The percentages are rounded down to the nearest 0.001%.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 3281832 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.78000000 (Direct Interest); 0.00000000 (Deemed Interest)

Notes

The percentage of total number of units "Immediately before the transaction" is based on 4,200,930,310 units in CLAR ("Units") as at 15 June 2022, and the percentage of total number of Units "Immediately after the transaction" is based on 4,203,990,865 Units as at 31 December 2022 following the issuance of Units.

The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 740000 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.01000000 (Direct Interest); 0.00000000 (Deemed Interest)

Notes

1. The percentage of total number of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" is based on 4,203,990,865 Units as at 15 December 2022.

2. CLARML is entitled to receive the 3,060,555 Units at an issue price of S$2.7671 per Unit as payment of 20% of the base management fee for the period from 1 June 2022 to 30 November 2022.

3. CLARML has sold 2,541,832 Units which it is entitled to receive as payment of its management fee to CLI RE Fund Investments Pte. Ltd. ("CLIRE"), a related corporation of CLARML, and in connection with the sale, CLARML has directed that such Units be issued directly to CLIRE instead of CLARML.

4. The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via market transaction

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): S$1,271,720 received by DBS Bank.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 840143548 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 19.99000000 (Deemed Interest)

Temasek does not have any direct interest in the Units.

Temasek is filing this notification form to report a change in the percentage level of its deemed interest in Units from 20.01% to 19.99% due to the disposal of 500,000 Units by DBS Bank via market transaction.

Temasek has a deemed interest in Units through CLA Real Estate Holdings Pte. Ltd. ("CLA Real Estate"), SeaTown Holdings Pte. Ltd. ("SeaTown"), DBSH, Keppel Corporation Limited ("Keppel") and Fullerton Fund Management Company Ltd. ("Fullerton").

(1) Temasek's deemed interest via CLA Real Estate 18.0905%
(i) CLI RE Fund Investments Pte. Ltd. ("CLI RE Fund") holds 18.0853% of Units.
(ii) CLI RE Fund is a subsidiary of CLI International Pte. Ltd. ("CLI Intl").
(iii) CapitaLand Ascendas REIT Management Limited ("CAREITML") holds 0.0052% of Units.
(iv) CAREITML is a subsidiary of CLI FM Pte. Ltd. ("CLIFM").
(v) CLI Intl and CLIFM are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI is a subsidiary of CapitaLand Limited ("CapitaLand").
(vii) CapitaLand is a subsidiary of CLA Real Estate.
(viii) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(ix) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(x) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xi) Mawson is a subsidiary of Bartley Investments Pte. Ltd. ("Bartley").
(xii) Bartley is a subsidiary of Tembusu Capital Pte. Ltd. ("Tembusu").
(xiii) Tembusu is a subsidiary of Temasek.

(2) Temasek's deemed interest via DBSH 1.1804%
(i) DBS Bank has an interest in approximately 1.1804% of Units.
(ii) DBS Bank is a subsidiary of DBSH.
(iii) Temasek has a more than 20% interest in DBSH.

(3) Temasek's deemed interest via Keppel 0.0569%
(i) EM Services Pte Ltd, an associated company of Keppel Land Limited ("KLL")
holds 0.0569% of Units.
(ii) KLL is a subsidiary of Keppel.
(iii) Temasek has a more than 20% interest in Keppel.

(4) Temasek's deemed interest via Fullerton 0.6706%
(i) Fullerton has an interest in 0.6706% of Units as investment manager for various funds,
including funds in which Temasek through a subsidiary has an interest.
(ii) Fullerton is an indirect subsidiary of Temasek.

(5) Temasek's deemed interest via SeaTown 0.0003%
(i) SeaTown has an interest in 0.0003% of Units on behalf of a client.
(ii) SeaTown is an indirect subsidiary of Temasek.


Total deemed interest of Temasek 19.99%


CLA Real Estate, SeaTown, DBSH, Keppel and Fullerton are independently managed Temasek portfolio companies. Temasek is not involved in their business or operating decisions, including those regarding their positions in the Units.

The percentage of interest immediately before and after the change is calculated on the basis of 4,200,930,310 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.0001%, as the case may be, and any discrepancies in aggregated figures are due to rounding.

Remarks
Pursuant to the ongoing business development of the CapitaLand Investment Limited Group, these units held by Ascendas Funds Management (S) Limited in Ascendas Reit have been transferred to CLI RE Fund Investments Pte. Ltd., a related corporation of Ascendas Funds Management (S) Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 221277 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00500000 (Direct Interest); 0.00000000 (Deemed Interest)

Notes:

The percentage of total number of units "Immediately before the transaction" and "Immediately after the transaction" is based on 4,200,930,310 units as at 15 June 2022.

Remarks
3,000,518 new units in Ascendas Reit have been issued at an issue price of S$2.8016 per unit as payment of 20% of the base management fee for the period from 1 December 2021 to 31 May 2022, of which, all the 3,000,518 units have been issued to CLIRE, an entity nominated by Ascendas Funds Management (S) Limited to receive the units in its place.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 757990728 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.04000000 (Deemed Interest)

CLI International Pte. Ltd.'s ("CLII") deemed interest in the units in Ascendas Reit ("Units") arises through its direct wholly owned subsidiary namely, CLI RE Fund Investments Pte. Ltd. ("CLIRE").

CLIRE is a unitholder of Ascendas Reit.

CLII holds 100% interest of CLIRE.

(i) the percentage of total number of voting units "Immediately before the transaction" is calculated based on 4,197,929,792 units as at 30 December 2021.

(ii) the percentage of total number of voting units "Immediately after the transaction" is calculated based on 4,200,930,310 Units as at 15 June 2022.

(iii) the percentages are rounded down to the nearest 0.01%.

Remarks
3,000,518 new units in Ascendas Reit have been issued at an issue price of S$2.8016 per unit as payment of 20% of the base management fee for the period from 1 December 2021 to 31 May 2022, of which, all the 3,000,518 units have been issued to CLIRE, an entity nominated by Ascendas Funds Management (S) Limited to receive the units in its place.

Immediately after the transaction

No. of ordinary voting shares/units held: 757990728 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 18.04000000 (Direct Interest); 0.00000000 (Deemed Interest)

CLII holds 100% interest of CLIRE.

(i) the percentage of total number of voting units "Immediately before the transaction" is calculated based on 4,197,929,792 units as at 30 December 2021.

(ii) the percentage of total number of voting units "Immediately after the transaction" is calculated based on 4,200,930,310 Units as at 15 June 2022.

(iii) the percentages are rounded down to the nearest 0.01%.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 4983219 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.11000000 (Direct Interest); 0.00000000 (Deemed Interest)

1. The percentage of total number of units "Immediately before the transaction" is based on 4,197,929,792 units in Ascendas Reit ("Units") as at 30 December 2021, and the percentage of total number of Units "Immediately after the transaction" is based on 4,200,930,310 Units as at 15 June 2022 following the issuance of Units.

2. The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 1982701 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.04000000 (Direct Interest); 0.00000000 (Deemed Interest)

1. The percentage of total number of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" is based on 4,200,930,310 Units as at 15 June 2022.

2. Ascendas Funds Management (S) Limited ("AFM") is entitled to receive the 3,000,518 Units at an issue price of S$2.8016 per Unit as payment of 20% of the base management fee for the period from 1 December 2021 to 31 May 2022.

3. AFM has sold 3,000,518 Units which it is entitled to receive as payment of its management fee to CLI RE Fund Investments Pte. Ltd. ("CLIRE"), a related corporation of AFM, and in connection with the sale, AFM has directed that such Units be issued directly to CLIRE instead of AFM.

4. The percentages are rounded down to the nearest 0.01%.

Remarks
Part payment of directors' fees for the year ended 31 December 2021 by way of units in Ascendas Real Estate Investment Trust to non-executive directors of Ascendas Funds Management (S) Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 37454 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00090000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentages of total number of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" are calculated based on the issued units of 4,197,929,792 of Ascendas Real Estate Investment Trust as at 1 March 2022.

Remarks
Part payment of directors' fees for the year ended 31 December 2021 by way of units in Ascendas Real Estate Investment Trust to non-executive directors of Ascendas Funds Management (S) Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 8984 (Direct Interest); 6222 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00020000 (Direct Interest); 0.00010000 (Deemed Interest)

My deemed interest in the units in Ascendas Reit as set out Tables 1 arises from units held in the name of my spouse.

The percentages of total number of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" are calculated based on the issued units of 4,197,929,792 of Ascendas Real Estate Investment Trust as at 1 March 2022.

Remarks
Part payment of directors' fees for the year ended 31 December 2021 by way of units in Ascendas Real Estate Investment Trust to non-executive directors of Ascendas Funds Management (S) Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 2515 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00006000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentages of total number of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" are calculated based on the issued units of 4,197,929,792 of Ascendas Real Estate Investment Trust as at 1 March 2022.

Remarks
Part payment of directors' fees for the year ended 31 December 2021 by way of units in Ascendas Real Estate Investment Trust to non-executive directors of Ascendas Funds Management (S) Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 16271 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00040000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentages of total number of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" are calculated based on the issued units of 4,197,929,792 of Ascendas Real Estate Investment Trust as at 1 March 2022.

Remarks
Part payment of directors' fees for the year ended 31 December 2021 by way of units in Ascendas Real Estate Investment Trust to non-executive directors of Ascendas Funds Management (S) Limited.

Immediately after the transaction

No. of ordinary voting shares/units held: 1982701 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.04000000 (Direct Interest); 0.00000000 (Deemed Interest)

1. The percentages of total number of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" are calculated based on the issued units of 4,197,929,792 of Ascendas Real Estate Investment Trust as at 1 March 2022.

2. The percentages are rounded down to the nearest 0.01%.

Remarks
Acceptance of 170,688 Awards comprises (i) 85,344* Awards under Performance Unit Plan ("PUP") & (ii) 85,344*^ Awards under Restricted Unit Plan ("RUP"). *the final no. of units to be released will depend on the achievement of pre-determined targets at the end of the respective performance periods for PUP and RUP. ^on the final vesting, an additional no. of units of a total value equal to the value of the accumulated distributions which are declared during each of the vesting periods and deemed foregone due to the vesting mechanism of RUP, will also be released.

Immediately after the transaction

No. of rights/options/warrants held: 395,833
No. of shares/units underlying the rights/options/warrants: 652,521

Immediately before the transaction:

No. of rights/options/warrants held: 225,145 comprises:
(i) 128,672 Awards* under Ascendas Funds Management (S) Limited Performance Unit Plan ("PUP")
(ii) 96,473^ unvested units under Ascendas Funds Management (S) Limited Restricted Unit Plan ("RUP")

No. (if known) of shares/units underlying the rights/options/warrants: 353,817 comprises:
(i) up to 257,344* units under PUP
(ii) 96,473^ units under RUP

Immediately after the transaction:

No. of rights/options/warrants held: 395,833 comprises:
(i) 214,016* Awards under PUP;
(ii) 96,473^ unvested units under RUP; and
(iii) 85,344*^ Awards under RUP.

No. (if known) of shares/units underlying the rights/options/warrants: 652,521 comprises:
(i) up to 428,032* units under PUP;
(ii) 96,473^ units under RUP; and
(iii) up to 128,016*^ units under RUP.

Awards refers to contingent baseline units awards.

* the final number of units to be released will depend on the achievement of pre-determined targets at the end of the respective performance periods for PUP and RUP.

^ on the final vesting, an additional number of units of a total value equal to the value of the accumulated distributions which are declared during each of the vesting periods and deemed foregone due to the vesting mechanism of RUP, will also be released.

Remarks
Transfer of 531,826 units in Ascendas Reit from AFM's unitholding to its key management personnel and eligible employees under its Restricted Unit Plan and Performance Unit Plan.

Immediately after the transaction

No. of ordinary voting shares/units held: 2011133 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.04000000 (Direct Interest); 0.00000000 (Deemed Interest)

1. The percentage of total number of units "Immediately before the transaction" and "Immediately after the transaction" is based on 4,197,929,792 units as at 30 December 2021.

2. The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via market transaction

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): S$3,543,744.86 received by Fullerton as investment manager.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 796448169 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.97000000 (Deemed Interest)

Tembusu does not have any direct interest in the Units.

Tembusu is filing this notification form to report a change in the percentage level of its deemed interest in Units from 19.00% to 18.97% due to the disposal of 1,273,400 Units by Fullerton as investment manager via market transaction.

Tembusu has a deemed interest in Units through CLA Real Estate, Fullerton and SeaTown.

(1) Tembusu's deemed interest via CLA Real Estate 18.0453%
(i) CLI RE Fund Investments Pte. Ltd. ("CLIRE") holds 17.9848% of Units.
(ii) CLIRE is a subsidiary of CLI International Pte. Ltd. ("CLII").
(iii) Ascendas Funds Management (S) Limited ("AFM") holds 0.0605% of Units.
(iv) AFM is a subsidiary of CLI FM Pte. Ltd ("CLIFM").
(v) CLIFM and CLII are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI is a subsidiary of CapitaLand Group Pte. Ltd. ("CapitaLand").
(vii) CapitaLand is a subsidiary of CLA Real Estate.
(viii) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(ix) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(x) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xi) Mawson is a subsidiary of Bartley Investments Pte. Ltd. ("Bartley").
(xii) Bartley is a subsidiary of Tembusu.

(2) Tembusu's deemed interest via Fullerton 0.9263%
(i) Fullerton has an interest in 0.9263% of Units as investment manager for various funds,
including funds in which Tembusu through a subsidiary has an interest.
(ii) Fullerton is an indirect subsidiary of Tembusu.

(3) Tembusu's deemed interest via SeaTown 0.0006%
(i) SeaTown has an interest in 0.0006% of Units on behalf of a client.
(ii) SeaTown is an indirect subsidiary of Tembusu.


Total deemed interest of Tembusu 18.97%


CLA Real Estate, Fullerton and SeaTown are independently managed Temasek portfolio companies. Tembusu is not involved in their business or operating decisions, including those regarding their positions in the Units.

The percentage of interest immediately before and after the change is calculated on the basis of 4,197,929,792 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.0001%, as the case may be, and any discrepancies in aggregated figures are due to rounding.

Remarks
A change of interest (ceasing to be a substantial unitholder) due to a transfer out of 664,000 units from an account.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 209847018 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 4.99000000 (Deemed Interest)

Remarks
Receipt of 176,535 units in Ascendas Reit by AFM, the manager of Ascendas Reit, as payment of divestment fee for the disposal of Plot 1 Assets (as defined in the announcement issued by Ascendas Reit dated 15 November 2021) that was completed on 30 November 2021. The 176,535 units were issued at an issue price of S$2.9218 per unit which was based on the 10-business day volume weighted average price of units from 16 December 2021 to 29 December 2021 (both dates inclusive).

Immediately after the transaction

No. of ordinary voting shares/units held: 2542959 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.06000000 (Direct Interest); 0.00000000 (Deemed Interest)

1. The percentage of total number of units "Immediately before the transaction" is based on 4,197,753,257 units in Ascendas Reit as at 15 December 2021.

2. The percentage of total number of units "Immediately after the transaction" is based on 4,197,929,792 units in Ascendas Reit as at 30 December 2021.

3. The percentages are rounded down to the nearest 0.01%.

Remarks
Change was due to decrease in shares held as collateral.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 293119977 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 6.98000000 (Deemed Interest)

BlackRock, Inc. holds a deemed interest through various BlackRock, Inc. subsidiaries as set out below.

1.Aperio Group, LLC
2.BlackRock Advisors, LLC
3.BlackRock Financial Management, Inc.
4.BlackRock Investment Management, LLC
5.BlackRock Investment Management (Australia) Limited
6.BlackRock (Luxembourg) S.A.
7.BlackRock (Netherlands) B.V.
8.BlackRock Fund Managers Ltd
9.BlackRock Life Limited
10.BlackRock Asset Management Canada Limited
11.BlackRock Asset Management Ireland Limited
12.BlackRock Asset Management North Asia Limited
13.BlackRock Asset Management Schweiz AG
14.BlackRock (Singapore) Limited
15.BlackRock Advisors (UK) Limited
16.BlackRock Fund Advisors
17.BlackRock International Limited
18.BlackRock Institutional Trust Company, N.A.
19.BlackRock Japan Co Ltd
20.BlackRock Investment Management (UK) Ltd
21.iShares (DE) I Investmentaktiengesellschaft mit Teilgesellschaftsvermogen

Remarks
Change was due to increase in shares held as collateral.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 294176177 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 7.00000000 (Deemed Interest)

BlackRock, Inc. holds a deemed interest through various BlackRock, Inc. subsidiaries as set out below.

1.Aperio Group, LLC
2.BlackRock Advisors, LLC
3.BlackRock Financial Management, Inc.
4.BlackRock Investment Management, LLC
5.BlackRock Investment Management (Australia) Limited
6.BlackRock (Luxembourg) S.A.
7.BlackRock (Netherlands) B.V.
8.BlackRock Fund Managers Ltd
9.BlackRock Life Limited
10.BlackRock Asset Management Canada Limited
11.BlackRock Asset Management Ireland Limited
12.BlackRock Asset Management North Asia Limited
13.BlackRock Asset Management Schweiz AG
14.BlackRock (Singapore) Limited
15.BlackRock Advisors (UK) Limited
16.BlackRock Fund Advisors
17.BlackRock International Limited
18.BlackRock Institutional Trust Company, N.A.
19.BlackRock Japan Co Ltd
20.BlackRock Investment Management (UK) Ltd
21.iShares (DE) I Investmentaktiengesellschaft mit Teilgesellschaftsvermogen

Remarks
Disposal of Securities via market transaction

Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 861,326.08 SGD

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 293725176 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 6.99000000 (Deemed Interest)

BlackRock, Inc. holds a deemed interest through various BlackRock, Inc. subsidiaries as set out below.

1.Aperio Group, LLC
2.BlackRock Advisors, LLC
3.BlackRock Financial Management, Inc.
4.BlackRock Investment Management, LLC
5.BlackRock Investment Management (Australia) Limited
6.BlackRock (Luxembourg) S.A.
7.BlackRock (Netherlands) B.V.
8.BlackRock Fund Managers Ltd
9.BlackRock Life Limited
10.BlackRock Asset Management Canada Limited
11.BlackRock Asset Management Ireland Limited
12.BlackRock Asset Management North Asia Limited
13.BlackRock Asset Management Schweiz AG
14.BlackRock (Singapore) Limited
15.BlackRock Advisors (UK) Limited
16.BlackRock Fund Advisors
17.BlackRock International Limited
18.BlackRock Institutional Trust Company, N.A.
19.BlackRock Japan Co Ltd
20.BlackRock Investment Management (UK) Ltd
21.iShares (DE) I Investmentaktiengesellschaft mit Teilgesellschaftsvermogen

Remarks
2,763,465 new units in Ascendas Reit have been issued at an issue price of S$2.9651 per unit as payment of 20% of the base management fee for the period from 1 June 2021 to 30 November 2021, of which, 579,021 units have been issued to AFM and 2,184,444 units have been issued to CLI RE Fund Investments Pte. Ltd., an entity nominated by AFM to receive the 2,184,444 units in its place.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 757356634 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.04000000 (Deemed Interest)

CLA Real Estate Holdings Pte. Ltd. ("CLA") holds 100% of the equity interest in CapitaLand Group Pte. Ltd. ("CLG"). CLG owns 52.35% of the equity interest in CapitaLand Investment Limited ("CLI").
CLI's deemed interest in the 757,356,634 units in Ascendas Reit arises through its direct wholly owned subsidiaries namely:

(i) CLI FM Pte. Ltd. which in turn is deemed to have an interest in the units held by AFM; and
(ii) CLI International Pte. Ltd. which in turn is deemed to have an interest in the units held by CLI RE Fund Investments Pte. Ltd..

CLG is a subsidiary of CLA and therefore, CLA is deemed to have an interest in the units in which CLG has an interest by virtue of Section 4 of the Securities and Futures Act, Chapter 289 of Singapore.

CapitaLand Group Pte. Ltd. is a wholly-owned subsidiary of CLA Real Estate Holdings Pte. Ltd.

Shareholding percentage "Immediately before the transaction" is based on 4,194,989,792 Units as at 30 July 2021, and the percentage of total number of ordinary voting units "Immediately after the transaction" is based on 4,197,753,257 Units as at 15 December 2021.

In this notice, figures are rounded down to the nearest 0.01% and any discrepancies in aggregated figures are due to rounding.

Remarks
2,763,465 new units in Ascendas Reit have been issued at an issue price of S$2.9651 per unit as payment of 20% of the base management fee for the period from 1 June 2021 to 30 November 2021, of which, 579,021 units have been issued to AFM and 2,184,444 units have been issued to CLI RE Fund Investments Pte. Ltd., an entity nominated by AFM to receive the 2,184,444 units in its place.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 757356634 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.04000000 (Deemed Interest)

CLA Real Estate Holdings Pte. Ltd. ("CLA") holds 100% of the equity interest in CapitaLand Group Pte. Ltd. ("CLG"). CLG owns 52.35% of the equity interest in CapitaLand Investment Limited ("CLI").
CLI's deemed interest in the 757,356,634 units in Ascendas Reit arises through its direct wholly owned subsidiaries namely:

(i) CLI FM Pte. Ltd. which in turn is deemed to have an interest in the units held by AFM;
(ii) CLI International Pte. Ltd. which in turn is deemed to have an interest in the units held by CLI RE Fund Investments Pte. Ltd..

CLG is a subsidiary of CLA and therefore, CLA is deemed to have an interest in the units in which CLG has an interest by virtue of Section 4 of the Securities and Futures Act, Chapter 289 of Singapore.

CapitaLand Group Pte. Ltd. is a wholly-owned subsidiary of CLA Real Estate Holdings Pte. Ltd.

Shareholding percentage "Immediately before the transaction" is based on 4,194,989,792 Units as at 30 July 2021, and the percentage of total number of ordinary voting units "Immediately after the transaction" is based on 4,197,753,257 Units as at 15 December 2021.

In this notice, figures are rounded down to the nearest 0.01% and any discrepancies in aggregated figures are due to rounding.

Remarks
Payment of base management fee to CLIRE and AFM, by way of issue of an aggregate of 2,763,465 new Units, as announced by the Listed Issuer on 15 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 757356634 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.04000000 (Deemed Interest)

Bartley does not have any direct interest in Units.

Bartley is filing this notification form to report a change in the percentage level of its deemed interest in Units from 17.98% to 18.04% due to the payment of base management fee to CLI RE Fund Investments Pte. Ltd. ("CLIRE", formerly known as Ascendas Land International (Investments) Pte. Ltd.) and Ascendas Funds Management (S) Limited ("AFM"), by way of issue of an aggregate of 2,763,465 new Units, as announced by the Listed Issuer on 15 December 2021.

Bartley has a deemed interest in Units through CLA Real Estate.

Bartley's deemed interest via CLA Real Estate 18.04%
(i) CLIRE holds 17.985% of Units.
(ii) CLIRE is a subsidiary of CLI International Pte. Ltd. ("CLII", formerly known as CapitaLand International Pte. Ltd.)
(iii) AFM holds 0.056% of Units.
(iv) AFM is a subsidiary of CLI FM Pte. Ltd ("CLIFM").
(v) CLIFM and CLII are subsidiaries of CapitaLand Investment Limited ("CLI").
(vi) CLI is a subsidiary of CapitaLand Group Pte. Ltd. ("CapitaLand")
(vii) CapitaLand is a subsidiary of CLA Real Estate.
(viii) CLA Real Estate is a subsidiary of TJ Holdings (III) Pte. Ltd. ("TJ Holdings III").
(ix) TJ Holdings III is a subsidiary of Glenville Investments Pte. Ltd. ("Glenville").
(x) Glenville is a subsidiary of Mawson Peak Holdings Pte. Ltd. ("Mawson").
(xi) Mawson is a subsidiary of Bartley.

Total deemed interest of Bartley 18.04%

CLA Real Estate is an independently managed Temasek portfolio company. Bartley is not involved in its business or operating decisions, including those regarding its positions in Units.

(i) Bartley Investments Pte. Ltd. is a indirect subsidiary of Temasek Holdings (Private) Limited.
(ii) Mawson Peak Holdings Pte. Ltd. is a subsidiary of Bartley Investments Pte. Ltd.
(iii) Glenville Investments Pte. Ltd. is a subsidiary of Mawson Peak Holdings Pte. Ltd.
(iv) TJ Holdings (III) Pte. Ltd. is a subsidiary of Glenville Investments Pte. Ltd.

The percentage of interest immediately before the change is calculated on the basis of 4,194,989,792 Units.

The percentage of interest immediately after the change is calculated on the basis of 4,197,753,257 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.001%, as the case may be, and any discrepancies in aggregated figures are due to rounding.

Remarks
Payment of base management fee to CLIRE and AFM, by way of issue of an aggregate of 2,763,465 new Units, as announced by the Listed Issuer on 15 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 757356634 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.04000000 (Deemed Interest)

Glenville does not have any direct interest in Units.

Glenville is filing this notification form to report a change in the percentage level of its deemed interest in Units from 17.98% to 18.04% due to the payment of base management fee to CLIRE and AFM, by way of issue of an aggregate of 2,763,465 new Units, as announced by the Listed Issuer on 15 December 2021.

Glenville has a deemed interest in Units through CLA Real Estate.

Glenville's deemed interest via CLA Real Estate 18.04%
(i) CLIRE holds 17.985% of Units.
(ii) CLIRE is a subsidiary of CLII.
(iii) AFM holds 0.056% of Units.
(iv) AFM is a subsidiary of CLIFM.
(v) CLIFM and CLII are subsidiaries of CL).
(vi) CLI is a subsidiary of CapitaLand
(vii) CapitaLand is a subsidiary of CLA Real Estate.
(viii) CLA Real Estate is a subsidiary of TJ Holdings III.
(ix) TJ Holdings III is a subsidiary of Glenville.

Total deemed interest of Glenville 18.04%

CLA Real Estate is an independently managed Temasek portfolio company. Glenville is not involved in its business or operating decisions, including those regarding its positions in Units.

(i) Bartley Investments Pte. Ltd. is a indirect subsidiary of Temasek Holdings (Private) Limited.
(ii) Mawson Peak Holdings Pte. Ltd. is a subsidiary of Bartley Investments Pte. Ltd.
(iii) Glenville Investments Pte. Ltd. is a subsidiary of Mawson Peak Holdings Pte. Ltd.
(iv) TJ Holdings (III) Pte. Ltd. is a subsidiary of Glenville Investments Pte. Ltd.

The percentage of interest immediately before the change is calculated on the basis of 4,194,989,792 Units.

The percentage of interest immediately after the change is calculated on the basis of 4,197,753,257 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.001%, as the case may be, and any discrepancies in aggregated figures are due to rounding.

Remarks
Payment of base management fee to CLIRE and AFM, by way of issue of an aggregate of 2,763,465 new Units, as announced by the Listed Issuer on 15 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 757356634 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.04000000 (Deemed Interest)

Mawson does not have any direct interest in Units.

Mawson is filing this notification form to report a change in the percentage level of its deemed interest in Units from 17.98% to 18.04% due to the payment of base management fee to CLIRE and AFM, by way of issue of an aggregate of 2,763,465 new Units, as announced by the Listed Issuer on 15 December 2021.

Mawson has a deemed interest in Units through CLA Real Estate.

Mawson's deemed interest via CLA Real Estate 18.04%
(i) CLIRE holds 17.985% of Units.
(ii) CLIRE is a subsidiary of CLII.
(iii) AFM holds 0.056% of Units.
(iv) AFM is a subsidiary of CLIFM.
(v) CLIFM and CLII are subsidiaries of CL).
(vi) CLI is a subsidiary of CapitaLand
(vii) CapitaLand is a subsidiary of CLA Real Estate.
(viii) CLA Real Estate is a subsidiary of TJ Holdings III.
(ix) TJ Holdings III is a subsidiary of Glenville.
(x) Glenville is a subsidiary of Mawson.

Total deemed interest of Mawson 18.04%

CLA Real Estate is an independently managed Temasek portfolio company. Mawson is not involved in its business or operating decisions, including those regarding its positions in Units.

(i) Bartley Investments Pte. Ltd. is a indirect subsidiary of Temasek Holdings (Private) Limited.
(ii) Mawson Peak Holdings Pte. Ltd. is a subsidiary of Bartley Investments Pte. Ltd.
(iii) Glenville Investments Pte. Ltd. is a subsidiary of Mawson Peak Holdings Pte. Ltd.
(iv) TJ Holdings (III) Pte. Ltd. is a subsidiary of Glenville Investments Pte. Ltd.

The percentage of interest immediately before the change is calculated on the basis of 4,194,989,792 Units.

The percentage of interest immediately after the change is calculated on the basis of 4,197,753,257 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.001%, as the case may be, and any discrepancies in aggregated figures are due to rounding.

Remarks
Payment of base management fee to CLIRE and AFM, by way of issue of an aggregate of 2,763,465 new Units, as announced by the Listed Issuer on 15 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 757356634 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.04000000 (Deemed Interest)

TJ Holdings III does not have any direct interest in Units.

TJ Holdings III is filing this notification form to report a change in the percentage level of its deemed interest in Units from 17.98% to 18.04% due to the payment of base management fee to CLIRE and AFM, by way of issue of an aggregate of 2,763,465 new Units, as announced by the Listed Issuer on 15 December 2021.

TJ Holdings III has a deemed interest in Units through CLA Real Estate.

TJ Holdings III's deemed interest via CLA Real Estate 18.04%
(i) CLIRE holds 17.985% of Units.
(ii) CLIRE is a subsidiary of CLII.
(iii) AFM holds 0.056% of Units.
(iv) AFM is a subsidiary of CLIFM.
(v) CLIFM and CLII are subsidiaries of CL).
(vi) CLI is a subsidiary of CapitaLand
(vii) CapitaLand is a subsidiary of CLA Real Estate.
(viii) CLA Real Estate is a subsidiary of TJ Holdings III.

Total deemed interest of TJ Holdings III 18.04%

CLA Real Estate is an independently managed Temasek portfolio company. TJ Holdings III is not involved in its business or operating decisions, including those regarding its positions in Units.

(i) Bartley Investments Pte. Ltd. is a indirect subsidiary of Temasek Holdings (Private) Limited.
(ii) Mawson Peak Holdings Pte. Ltd. is a subsidiary of Bartley Investments Pte. Ltd.
(iii) Glenville Investments Pte. Ltd. is a subsidiary of Mawson Peak Holdings Pte. Ltd.
(iv) TJ Holdings (III) Pte. Ltd. is a subsidiary of Glenville Investments Pte. Ltd.

The percentage of interest immediately before the change is calculated on the basis of 4,194,989,792 Units.

The percentage of interest immediately after the change is calculated on the basis of 4,197,753,257 Units.

In this Notice, figures are rounded down to the nearest 0.01% or 0.001%, as the case may be, and any discrepancies in aggregated figures are due to rounding.

Remarks
Becoming a substantial shareholder is a result of an increase of 2,311,936 (0.06%) in pledged units as collateral. There was also a separate increase of 1,088,244 in pledged units as collateral. Additionally, there was an acquisition of 377,500 units (SGD 2.9507) and a disposal of 140,300 units (SGD 2.9465).

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 213198106 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 5.08000000 (Deemed Interest)

Remarks
2,763,465 new units in Ascendas Reit have been issued at an issue price of S$2.9651 per unit as payment of 20% of the base management fee for the period from 1 June 2021 to 30 November 2021, of which, 579,021 units have been issued to Ascendas Funds Management (S) Limited ("AFM") and 2,184,444 units have been issued to CLI RE Fund Investments Pte. Ltd. ("CLIRE"), an entity nominated by AFM to receive the 2,184,444 units in its place.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 757356634 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 18.04000000 (Deemed Interest)

CapitaLand Investment Limited's ("CLI") deemed interest in the 757,356,634 units in Ascendas Reit arises through its direct wholly owned subsidiaries namely:

(i) CLI FM Pte. Ltd. which in turn is deemed to have an interest in the units held by AFM; and
(ii) CLI International Pte. Ltd., which in turn is deemed to have an interest in the units held by CLIRE.

The percentage of total number of voting units "Immediately before the transaction" is based on 4,194,989,792 units as at 30 July 2021.
The percentage of total number of voting units "Immediately after the transaction" is based on 4,197,753,257 units as at 15 December 2021.
The percentages are rounded down to the nearest 0.01%.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 4550868 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.10000000 (Direct Interest); 0.00000000 (Deemed Interest)

1. The percentage of total number of units "Immediately before the transaction" is based on 4,194,989,792 units in Ascendas Reit ("Units") as at 30 July 2021, and the percentage of total number of Units "Immediately after the transaction" is based on 4,197,753,257 Units as at 15 December 2021 following the issuance of Units.

2. The percentages are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals)

Immediately after the transaction

No. of ordinary voting shares/units held: 2366424 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.05000000 (Direct Interest); 0.00000000 (Deemed Interest)

1. The percentage of total number of ordinary voting units "Immediately before the transaction" and "Immediately after the transaction" is based on 4,197,753,257 Units as at 15 December 2021.

2. Ascendas Funds Management (S) Limited ("AFM") is entitled to receive the 2,763,465 Units at an issue price of S$2.9651 per Unit as payment of 20% of the base management fee for the period from 1 June 2021 to 30 November 2021.

3. AFM has sold 2,184,444 Units which it is entitled to receive as payment of its management fee to CLI RE Fund Investments Pte. Ltd. ("CLIRE"), a related corporation of AFM, and in connection with the sale, AFM has directed that such Units be issued directly to CLIRE instead of AFM.

4. The percentages are rounded down to the nearest 0.01%.

Remarks
The change of interest (ceasing to be a substantial unit holder) is a result of a decrease of 2,311,936 units (0.06%) in pledged units as collateral. There was also a separate increase of 41,191 units in pledged units as collateral.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 209560726 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 4.99000000 (Deemed Interest)

Remarks
BNY Mellon Corporate Trustee Services Limited ("CTS") is considered to have an interest in pledged units as collateral. The Bank of New York Mellon Corporation is treated as having a deemed interest in the units by virtue of it being the ultimate parent company of CTS. Becoming a substantial shareholder is a result of an increase of 12,214,600 (0.29%) in pledged units as collateral. There was also an acquisition of 10,000 units (SGD 2.96) and a disposal of 3,000 units (SGD 2.96), all via market transaction.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 210097543 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 5.01000000 (Deemed Interest)

Remarks
The change of interest (ceasing to be a substantial unitholder) is as a result of a decrease of 13,376,220 units (0.32%) in pledged units as collateral.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 197875943 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 4.72000000 (Deemed Interest)

Remarks
BNY Mellon Corporate Trustee Services Limited ("CTS") is considered to have an interest in pledged units as collateral. The Bank of New York Mellon Corporation is treated as having a deemed interest in the units by virtue of it being the ultimate parent company of CTS. Becoming a substantial shareholder is a result of an increase of 16,668,900 (0.40%) in pledged units as collateral. There was also an acquisition of 11,600 units (SGD 2.92), 15,900 units (SGD 2.99) and a disposal of 155,300 units (SGD 2.92), all via market transaction.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 211256463 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 5.04000000 (Deemed Interest)

Remarks
The change of interest (ceasing to be a substantial unitholder) is as a result of a decrease of 15,557,000 units (0.37%) in pledged units as collateral.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 194736763 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 4.64000000 (Deemed Interest)

Remarks
The Bank of New York Mellon is considered to have a security interest in pledged units as collateral. The Bank of New York Mellon Corporation is treated as having a deemed interest in the units by virtue of it being the ultimate parent company of The Bank of New York Mellon.
Becoming a substantial shareholder is a result of an increase of 15,526,000 (0.370%) in pledged units as collateral. There was also a disposal of 27,500 units (0.001%) via market transaction, at a price of SGD 2.96.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 210262763 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 5.01000000 (Deemed Interest)