REPL::Scrip Election/ Distribution/ DRP::Choice

(a real estate investment trust constituted on 7 June 2018

under the laws of the Republic of Singapore)

(Managed by Elite Commercial REIT Management Pte. Ltd.)

ISSUE AND LISTING OF 2,966,021 NEW UNITS UNDER THE

DISTRIBUTION REINVESTMENT PLAN

Oversea-Chinese Banking Corporation Limited and UBS AG, Singapore Branch are the joint issue managers for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Issue Managers"). Oversea-Chinese Banking Corporation Limited, UBS AG, Singapore Branch, CGS-CIMB Securities (Singapore) Pte. Ltd. and China International Capital Corporation (Singapore) Pte. Limited are the joint bookrunners and underwriters for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Bookrunners and Underwriters").

Elite Commercial REIT Management Pte. Ltd. (the "Manager"), in its capacity as manager of Elite Commercial REIT, wishes to announce that 2,966,021 new units in Elite Commercial REIT ("Units") will be issued at an issue price of GBP 0.6451 per new Unit on 24 September 2021 pursuant to Elite Commercial REIT's Distribution Reinvestment Plan ("DRP") in respect of the distribution of GBP 1.73 pence per Unit for the period from 9 March 2021 to 30 June 2021.

The new Units will be credited to the securities accounts of unitholders of Elite Commercial REIT ("Unitholders") who have elected to participate in the DRP by 24 September 2021. The new Units will commence trading on the Main Board of Singapore Exchange Securities Trading Limited at 9.00 a.m. on 24 September 2021.

The new Units will rank pari passu in all respects with the existing Units.

Following the issue of the new Units, the number of issued Units has increased from 471,363,555 to 474,329,576.

Distribution payments to eligible Unitholders who did not elect to participate in the DRP will be paid in cash on 24 September 2021.

By Order of the Board

Shaldine Wang

Chief Executive Officer

Elite Commercial REIT Management Pte. Ltd.

(Registration Number: 201925309R)

(as manager of Elite Commercial REIT)

23 September 2021

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IMPORTANT NOTICE

This announcement is for information only and does not constitute or form part of an offer, invitation or solicitation of any offer to purchase or subscribe for units in Elite Commercial REIT ("Units") in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever

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 Elite Commercial REIT, the Manager 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. The Unitholders have no right to request the Manager to 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.

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