Interested Person Transaction::Proposed Appointments in Connection With the Redevelopment of the Grange Road Car Park

Issuer & Securities

Announcement Title: Interested Person Transaction
Date &Time of Broadcast: 03-Dec-2020 17:52:27
Status: New
Announcement Sub Title: Proposed Appointments in Connection With the Redevelopment of the Grange Road Car Park
Announcement Reference: SG201203OTHRRKAB
Submitted By (Co./ Ind. Name): Kelvin Chow
Designation: Chief Executive Officer
Description (Please provide a detailed description of the event in the box below): A professional development services agreement between RBC Investor Services Trust Singapore Limited, in its capacity as trustee of LREIT (the "Trustee") and Lendlease Retail Pte. Ltd. ("LLR") has been entered into on 3 December 2020, pursuant to which LLR has been appointed as the development manager for the development site to provide professional development management services for the development of the events and commercial venue at Grange Road.

In addition, an individual property management agreement has been entered into on 3 December 2020 between Lendlease Global Commercial Trust Management Pte. Ltd. (the "Manager"), the Trustee and LLR, pursuant to which LLR has been appointed as the property manager of the developed site, subject to the overall management and supervision of the Manager and otherwise on the terms of the master property management agreement.

Interested Person Details: LLR is an indirect wholly-owned subsidiary of Lendlease Corporation Limited, the sponsor for LREIT ("Sponsor").

The Sponsor is a "controlling unitholder" of Lendlease Global Commercial REIT ("LREIT") and a "controlling shareholder" of the Manager. As LLR is an indirect wholly-owned subsidiary of the Sponsor, for the purposes of Chapter 9 of the listing manual of Singapore Exchange Securities Trading Limited (the "SGX-ST", and the listing manual of the SGX-ST, the "Listing Manual") and Paragraph 5 of Appendix 6 of the Code on Collective Investment Schemes issued by the Monetary Authority of Singapore (the "Property Funds Appendix"), LLR (being a subsidiary of a "controlling unitholder" of LREIT and a subsidiary of a "controlling shareholder" of the Manager) is (for the purposes of the Listing Manual) an "interested person" of LREIT and (for the purposes of the Property Funds Appendix) an "interested party" of LREIT.

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