Redemption And Cancellation Of Subordinated Perpetual Securities Comprised In Series 006 (ISIN: SG7IC6000006) (The "Perpetual Securities") Issued By Perpetual (Asia) Limited (On its Capacity As Trustee Of ESR-REIT) (The "Issuer") Under Its S$750,000,000 Multicurrency Debt Issuance Programme (The "Programme")

(Constituted in the Republic of Singapore pursuant to a trust deed dated 31 March 2006 (as amended))

Reference is made to the announcement dated 3 April 2025 and the notice by the Issuer that it shall redeem all of the Perpetual Securities on 3 May 2025 pursuant to Condition 4(b) of the terms and conditions of the Perpetual Securities at the Redemption Amount together with distribution accrued (including any Arrears of Distribution and any Additional Distribution Amounts) to (but excluding) 3 May 2025 (collectively, the "Redemption Price"). Capitalised terms used but not defined herein shall have the same meanings ascribed to them in the terms and conditions of the Perpetual Securities.

ESR-REIT Management (S) Limited, in its capacity as manager of ESR-REIT, wishes to announce that the payment of the Redemption Price has been effected on 5 May 2025, in accordance with Condition 5(e) of the terms and conditions of the Perpetual Securities. Accordingly, the Issuer has successfully redeemed all outstanding Perpetual Securities, and the redeemed Perpetual Securities will be cancelled and delisted from the Singapore Exchange Securities Trading Limited thereafter.

As Manager of ESR-REIT

(Company Registration No. 200512804G, Capital Markets Services Licence No. 100132)

Chief Executive Officer and Executive Director 5 May 2025

For further enquiries, please contact:

Senior Manager,

Capital Markets and Investor Relations Tel: +65 6222 3339

Email: lyn.ong@esr-reit.com.sg

Manager,

Corporate Communications Tel: +65 6222 3339

Email: xiukai.sua@esr-reit.com.sg

ESR-REIT is a leading New Economy and future-ready Asia Pacific S-REIT. Listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, ESR-REIT invests in quality income-producing industrial properties in key gateway markets.

As at 31 December 2024, ESR-REIT holds interests in a diversified portfolio of logistics properties, high-specifications industrial properties, business parks and general industrial properties with total assets of approximately S$6.0 billion. Its portfolio comprises 72 properties (excluding 48 Pandan Road held through a joint venture) located across the developed markets of Singapore (52 assets), Australia (18 assets) and Japan (2 assets), with a total gross floor area of approximately 2.5 million sqm, as well as investments in three property funds in Australia. ESR-REIT is also a constituent of the FTSE EPRA Nareit Global Real Estate Index.

ESR-REIT is managed by ESR-REIT Management (S) Limited (the "Manager") and sponsored by ESR. The Manager is owned by ESR (99.0%) and Shanghai Summit Pte. Ltd. (1.0%), respectively.

For further information on ESR-REIT, please visit https://www.esr-reit.com.sg.

ESR is Asia-Pacific's leading New Economy real asset owner and manager. With our core focus in logistics real estate, data centres, and infrastructure, we power the supply chain for investors, customers, and communities. Through our fully integrated real asset fund management and development platform, we strive to create value and growth opportunities for our global portfolio of investors. We offer our customers modern space solutions to realise their ambitions across Australia and New Zealand, Japan, South Korea, Greater China, Southeast Asia, and India, including a presence in Europe. Our purpose, Space and Investment Solutions for a Sustainable Future, drives us to manage sustainably and impactfully for the communities we serve to thrive for generations to come. Visit https://www.esr.com for more information.

The value of units in ESR-REIT ("Units") and the income derived from them may fall as well as rise. Units are not investments or deposits in, or liabilities or obligations, of ESR-REIT Management (S) Limited ("Manager"), Perpetual (Asia) Limited (in its capacity as trustee of ESR-REIT) ("Trustee"), or any of their respective related corporations and affiliates (individually and collectively "Affiliates"). An investment in Units is subject to equity investment risk, including the possible delays in repayment and loss of income or the principal amount invested. Neither ESR-REIT, the Manager, the Trustee nor any of the Affiliates guarantees the repayment of any principal amount invested, the performance of ESR-REIT, any particular rate of return from investing in ESR-REIT, or any taxation consequences of an investment in ESR-REIT. Any indication of ESR-REIT performance returns is historical and cannot be relied on as an indicator of future performance.

Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that investors may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This announcement may contain forward-looking statements that involve assumptions, 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 similar developments, shifts in expected levels of occupancy or property rental income, changes in operating expenses, governmental and public policy changes and the continued availability of financing in amounts and on terms necessary to support ESR-REIT's future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.

This announcement is for information purposes only and does not have regard to your specific investment objectives, financial situation or your particular needs. Any information contained in this announcement is not to be construed as investment or financial advice and does not constitute an offer or an invitation to invest in ESR-REIT or any investment or product of or to subscribe to any services offered by the Manager, the Trustee or any of the Affiliates.