REPL::Cash Dividend/ Distribution::Choice

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.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States, European Economic Area, the United Kingdom, Canada, Japan or Australia.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

NOTICE OF ADVANCED DISTRIBUTION RECORD DATE

AND DISTRIBUTION PAYMENT DATE

Capitalised terms used herein, unless otherwise defined, shall have the meanings ascribed to them in the announcement of Manulife US Real Estate Investment Trust ("Manulife US REIT") dated 30 November 2021 titled "Launch of Private Placement to Raise Gross Proceeds of no less than approximately US$80.0 million".

NOTICE IS HEREBY GIVEN THAT the Transfer Books and Register of Unitholders of Manulife US REIT will be closed on Wednesday, 8 December 2021 at 5.00 p.m. (the "Record Date") for the purpose of determining the entitlement of Unitholders to the Advanced Distribution for the period from 1 July 2021 to 8 December 2021, being the date immediately prior to the date on which the New Units to be issued pursuant to the Private Placement are expected to be listed.

The New Units issued pursuant to the Private Placement are expected to be listed on the SGX-ST on 9 December 2021.

The quantum of Advanced Distribution per Existing Unit is currently estimated to range from 2.16 US cents to 2.36 US cents1. A further announcement on the actual quantum of distribution per Unit (which may differ from the estimate above) under the Advanced Distribution will be made by the Manager in due course.

1 This amount is an estimate only based on information currently available to the Manager and the Manager's pro-rated estimate of Manulife US REIT's revenue and expenses. The actual Advanced Distribution may differ and will be announced at a later date.

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The next distribution following the Advanced Distribution will comprise Manulife US REIT's distributable income for the period from the day the New Units are issued pursuant to the Private Placement to 31 December 2021. Semi-annual distributions will resume thereafter.

Unitholders whose securities accounts with The Central Depository (Pte) Limited ("CDP") are credited with Units at the Record Date will be entitled to the Advanced Distribution. The Advanced Distribution will be paid on or around Thursday, 17 February 2022.

The Advanced Distribution is intended to ensure that the distributable income accrued by Manulife US REIT from 1 July 2021 up to the day immediately preceding the date of issue of the New Units pursuant to the Private Placement (which at this point, will be entirely attributable to the Existing Units) is only distributed in respect of the Existing Units, and is being proposed as a means to ensure fairness to holders of the Existing Units.

Unitholders who do not submit required U.S. tax forms completely and accurately will be subject to 30% withholding taxes on the Advanced Distribution. The U.S. tax forms are required to be reviewed and validated by the appointed processing agent by Monday, 10 January 2022. To ensure the forms can be validated by Monday, 10 January 2022, Unitholders are reminded to submit the completed tax forms to Manulife US REIT's Unit Registrar - Boardroom Corporate & Advisory Services Pte Ltd by Monday, 3 January 2022.

For the avoidance of doubt, the distribution reinvestment plan shall not apply to the distribution in respect of this Advanced Distribution.

For the avoidance of doubt, the holders of the New Units to be issued pursuant to the Private Placement will not be entitled to participate in the distribution of any distributable income accrued by Manulife US REIT prior to the date of issue of the New Units (including the Advanced Distribution).

IMPORTANT - DISTRIBUTION CURRENCY ELECTION

With effect from 15 June 2020, CDP has implemented Currency Conversion service ("CCY"), which is a conversion and payment service that converts foreign currency cash distributions to Singapore dollars and credits them directly into a CDP direct account holder's active Direct Crediting Service ("DCS") bank account. The CCY is automatically provided to Unitholders who are CDP Securities Account holders with DCS.

Registered Unitholders (other than CDP) and Unitholders whose Units are held directly through CDP will receive their Advanced Distribution in Singapore dollars, unless Unitholders elect to receive their Advanced Distribution in U.S. dollars by submitting a completed "Distribution Election Notice" to Manulife US REIT's Unit Registrar, Boardroom Corporate & Advisory Services Pte. Ltd. (as indicated on the Distribution Election Notice) by Monday, 3 January 2022. In addition, Unitholders with DCS will need to opt out of CCY at least 3 business days before payment date. No action is needed for Unitholders who wish to receive the Advanced Distribution in Singapore dollars.

Please visithttps://www.sgx.com/securities/retail-investor/cdp-faqsor contact CDP for further information on how to opt out of the CCY to receive the Advanced Distribution in U.S. dollars.

For the Advanced Distribution to be paid in Singapore dollars, the Manager will make the necessary arrangements to convert the Advanced Distribution from U.S. dollars into Singapore dollars (taking into account the cost of exchange) at the prevailing market exchange rate. Neither CDP nor the

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Manager will be liable for any damages or losses suffered by Unitholders howsoever arising from the conversion of the Advanced Distribution payable to each Unitholder from U.S. dollars into Singapore dollars. Save for approved depository agents (acting as nominees of their individual customers), each Unitholder may elect to receive the entire Advanced Distribution in either Singapore dollars or U.S. dollars and will not be able to elect to receive the Advanced Distribution in a combination of Singapore dollars and U.S. Dollars.

IMPORTANT DATES AND TIMES

Event	Indicative Date
Units will be traded ex-dividend	Tuesday, 7 December 2021 at 9.00 a.m.
Close of Manulife US REIT's Transfer Books	Wednesday, 8 December 2021 at 5.00 p.m.
and Register of Unitholders for the Advanced
Distribution
Unitholders are reminded to submit the	Monday, 3 January 2022 at 5.00 p.m.
completed tax forms to Manulife US REIT's
Unit Registrar - Boardroom Corporate &
Advisory Services Pte Ltd. Unitholders who
do not submit required U.S. tax forms
completely and accurately will be subject to
30% withholding taxes on the Advanced
Distribution.
Unitholders must complete and return the	Monday, 3 January 2022 at 5.00 p.m.
Distribution Election Notice to Manulife US
REIT's Unit Registrar, Boardroom Corporate
& Advisory Services Pte. Ltd (as indicated on
the Distribution Election Notice) in order to
receive the Advanced Distribution in U.S.
dollars.
Payment of Advanced Distribution	On or around Thursday, 17 February 2022

Should Unitholders have any queries in relation to these procedures, please do not hesitate to contact:-

Ms Caroline Fong

Chief Investor Relations and Capital Markets Officer

Tel: [phone]

Email: [e-mail]

Or visit our website at: http://investor.manulifeusreit.sg/

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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)

30 November 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.

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

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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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