Keppel Pacific Oak US REIT Management Pte. Ltd. (the "Manager") determined that it is in the best interest of Keppel Pacific Oak US REIT (?KORE?) and its Unitholders to suspend distributions ("Suspension") beginning second half of 2023. KORE expects the period of the Suspension will be through to the second half of 2025 in respect of distributions that would otherwise be paid in first half of 2026.

The Manager believes that this option is expected to provide significantly more capital for KORE over the next two years compared to the capital that an EFR can raise in the current market condition. If market conditions allow, KORE may re-commence the distributions at an earlier date than planned.