Asset Acquisitions and Disposals::Completion of Acquisition of Park Place, Chandler, Arizona in US & Use of Proceeds

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This announcement is not for publication or distribution, directly or indirectly, in or into the United States, European Economic Area, the United Kingdom, Canada, Japan or Australia. This announcement is not an offer of securities for sale in the United States, European Economic Area, the United Kingdom, Canada, Japan, Australia or any other jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with any applicable state securities laws. There will be no public offering of securities of Manulife US REIT (as defined herein) in the United States.

MANULIFE US REAL ESTATE INVESTMENT TRUST

(a real estate investment trust constituted on 27 March 2015 under the laws of the Republic of Singapore)

ANNOUNCEMENT

COMPLETION OF ACQUISITION OF PARK PLACE, CHANDLER, ARIZONA IN THE UNITED STATES AND PRIVATE PLACEMENT USE OF PROCEEDS

1. Completion of Acquisitions
   Further to the announcement dated 30 November 2021 in relation to the proposed acquisitions of the properties (the "Acquisitions") known as (a) Diablo Technology Park located at 2900 South Diablo Way, Tempe, Arizona, (b) Park Place located at 1650 & 1700 South Price Road, Chandler, Arizona and (c) Tanasbourne Commerce Center located at 3188 & 3175 NE Aloclek Drive and 3300 NE 83rd Avenue, Hillsboro, Oregon (collectively, the "Properties"), and the announcement dated 17 December 2021 in relation to the acquisition of Tanasbourne Commerce Center (the "Tanasbourne Acquisition Announcement"), Manulife US Real Estate Management Pte. Ltd., as manager of Manulife US Real Estate Investment Trust ("Manulife US REIT", and the manager of Manulife US REIT, the "Manager"), is pleased to announce that the acquisition of Park Place has been completed. The Manager will make a further announcement on the completion of the acquisition of Diablo Technology Park.
2. Use of Proceeds of the Private Placement
   Further to the announcements dated 30 November 2021 (the "Placement Announcements") in relation to the placement of 154,084,000 new units in Manulife US REIT which raised gross proceeds of approximately US$100.0 million (the "Private Placement"), the Manager wishes to announce that US$94.7 million (which is equivalent to

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approximately 94.7% of the gross proceeds of the Private Placement) has been used to partially fund the acquisitions of Tanasbourne Commerce Center and Park Place. Details of the use of proceeds from the Private Placement as of this date are as follows:

	Intended use of
	proceeds stated in
	Placement	Actual use of	Balance of
US$ million	Announcement	proceeds	proceeds
To partially fund the	93.5	94.7	(1.2)
Acquisitions
To pay the estimated fees	6.5	5.3	1.2
and expenses in connection
with the Acquisitions and
the Private Placement
Total	100.0	100.0	-

As the acquisition of Tanasbourne Commerce Center and Park Place have been completed prior to the acquisition of Diablo Technology Park, for capital management purposes, the Manager has decided to fully utilise the US$93.5 million which was set aside for the Acquisitions to finance the acquisitions of Tanasbourne Commerce Center and Park Place. As the fees and expenses utilised are less than the originally estimated amount of US$6.5 million, the balance of US$1.2 million has been used to partially fund the acquisitions of Tanasbourne Commerce Center and Park Place. Save for the redeployment of such amounts as described above, the use of the gross proceeds from the Private Placement is in accordance with the stated use and percentage of the gross proceeds of the Private Placement as stated in the Placement Announcements. Following such use of proceeds, the proceeds from the Private Placement have been fully utilised.

BY ORDER OF THE BOARD

Jill Smith

Chief Executive Officer

Manulife US Real Estate Management Pte. Ltd. (Company registration no. 201503253R)

(as manager of Manulife US Real Estate Investment Trust)

18 December 2021

IMPORTANT NOTICE

This announcement is not for distribution, directly or indirectly, in or into the United States and is not an offer of securities for sale in the United States or any other jurisdictions.

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The value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors have no right to request the Manager to redeem 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 is for information purposes only and does not constitute or form part of an offer, invitation or solicitation of any securities of Manulife US REIT 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 past performance of Manulife US REIT is not necessarily indicative of the future performance of Manulife US REIT.

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. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses (including employee wages, benefits and training costs), property expenses and governmental and public policy changes. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's view of future events.

This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, European Economic Area, the United Kingdom, Canada, Japan or Australia, and should not be distributed, forwarded to or transmitted in or into any jurisdiction where to do so might constitute a violation of applicable securities laws or regulations.

The securities referred to herein have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act or under the securities laws of any state or other jurisdiction of the United States, and any such new Units may not be offered or sold within the United States except pursuant to an exemption from, or transactions not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws. Any public offering of securities to be made in the United States would be made by means of a prospectus that may be obtained from an issuer and would contain detailed information about such issuer and the management, as well as financial statements. There will be no public offering of the securities referred to herein in the United States.

This publication has not been reviewed by the Monetary Authority of Singapore.

Notification under Section 309B of the Securities and Futures Act, Chapter 289 of Singapore: The New Units are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12:Notice on the Sale of Investment Products and MAS Notice FAA-N16:Notice on Recommendations on Investment Products).

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