The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement.

We refer to the announcement dated 12 September 2023 in relation to the Proposed Acquisition and Lease and Proposed Placement ("Initial Announcement").

On behalf of the Board, UOBKH wishes to announce the following:

1. the Vendor had acknowledged and accepted the letter of variation to amend the mode of settlement of the Purchase Consideration to comprise solely cash payment and the settlement arrangement. Hektar REIT shall no longer pursue the Proposed Issuance to KCSB as set out in the Initial Announcement;

2. the revision to the structure of the Proposed Placement to entail an issuance of up to 25% (previously 20%) of the enlarged issued units of Hektar REIT to third party investors; and

3. the proposed amendment to the investment objectives of Hektar REIT stipulated in the Trust Deed dated 5 October 2006 (as amended by the Supplemental Trust Deed dated 20 March 2012, Second Supplemental Deed to the Trust Deed dated 23 November 2016 and Amended and Restated Trust Deed dated 8 February 2021) to facilitate the Proposed Acquisition and Lease.

Further details of the Proposals are set out in the attachment enclosed.

This announcement is dated 7 December 2023.