CapitaLand Ascendas REIT Management Limited, as the manager (the “Manager”) of CapitaLand Ascendas REIT (“CLAR”), is pleased to announce the proposed divestments of five industrial and logistics properties (“Proposed Divestments”) in Singapore (collectively, the “Properties”) to unrelated third parties for a total sale consideration of S$329.0 million (“Sale Consideration”). The Properties are 31 Ubi Road 1, 9 Changi South Street 3, 10 Toh Guan Road and 19 & 21 Pandan Avenue, as well as 30 Tampines Industrial Avenue 3.

The Sale Consideration represents a premium of approximately 6% over the total market valuation of the Properties of S$311.3 million and a 20% premium to their total original purchase price of S$274.2 million.