EC World Real Estate Investment Trust : Payment Of Management Fee By Way Of Issue Of Units In EC World REIT

EC WORLD REAL ESTATE INVESTMENT TRUST

(a real estate investment trust constituted on 5 August 2015 under the laws of the

Republic of Singapore)

PAYMENT OF PERFORMANCE FEE BY WAY OF ISSUE OF UNITS IN EC WORLD REIT

The Board of Directors of EC World Asset Management Pte Ltd, the Manager of EC World REIT (the "Manager"), wishes to announce that 346,736 Units ("Performance Fee Units") in EC World REIT have been issued at a price of S$0.7683 per Unit as part payment of the performance fee component of its management fee for the year 2021.

The issue price per Performance Fee Unit is the volume weighted average traded price for a Unit for all trades done on the Singapore Exchange Securities Trading Limited (the "SGX-ST") in the ordinary course of trading for the last ten business days immediately preceding 31 December 2021, being the end date of the Financial Year.

The payment of the Performance fee and the manner of such payment are provided in the trust deed dated 5 August 2015 (as amended) constituting EC World REIT (the "Trust Deed"). It is provided in the Trust Deed that the Manager may elect to receive the Base Fee and Performance Fee in cash or Units or a combination of cash and Units (as it may in its sole discretion determine). The Manager elected to receive 50.0% of the Performance Fee in the form of Units for Year 2021.

Following the issuance of the Performance Fee Units, the Manager holds 5,963,325 Units in EC World REIT, representing 0.736% of the total number of issued Units in EC World REIT. The total number of issued Units in EC World REIT as at the date of this announcement is 809,838,2471.

For and on behalf of the Board

Goh Toh Sim

Executive Director and CEO

EC World Asset Management Pte. Ltd.

(Company Registration No. 201523015N)

As manager of EC World Real Estate Investment Trust

Date: 31 March 2022

1 After the issuance of Management Fee Units.

IMPORTANT NOTICE

The value of the Units and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by the Manager, DBS Trustee Limited (as trustee of EC World REIT), or any of their respective affiliates.

An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Unitholders have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on 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. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of EC World REIT. The forecast financial performance of EC World REIT is not guaranteed. A potential investor is cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.

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