DBS Trustee Limited, in its capacity as trustee of OUE C-REIT has entered into a loan facility agreement for secured term and committed revolving credit facilities in the aggregate principal amount of SGD 540,000,000 on terms set out in the facility agreement dated 7 October 2021. The Facilities will be used for, among other things, the refinancing of existing borrowings and/or general working capital purposes (including, without limitation, the payment of fees, costs and expenses incurred in connection with the Facilities). The utilisation of the Facilities remains subject to the conditions set out in the Facility Agreement. The Facility Agreement contains provisions and restrictions which make reference to the ownership interests of OUE Limited in the Manager or a change in the Manager: it is a term of the Facility Agreement that if the Sponsor ceases to own (directly or indirectly) at least 51% of the issued and fully paid ordinary shares in the Manager without the prior agreement of the Majority Lenders (as defined in the Facility Agreement), there shall be a mandatory prepayment of the loan and interest and all other amounts accrued or outstanding under the Facilities if so required by the Majority Lenders; and it shall be an event of default under the Facility Agreement if the Manager resigns or is removed as a manager of OUE C-REIT without the prior consent in writing of the Lenders and a replacement manager which is a direct or indirect subsidiary of the Sponsor is not appointed in accordance with the terms of the trust deed constituting OUE C-REIT. As at the date of this announcement, the events described above have not occurred. The amount of the Facilities (assuming the Facilities are drawn down in full) and existing outstanding debt securities of OUE C-REIT that may be affected by the events mentioned above (including facilities or debt securities which will be affected as a result of cross-defaults) amounts to approximately SGD 1,643 million (excluding interest and fees) as at the date of this announcement.