Asset Acquisitions and Disposals::COMPLETION OF THE ACQUISITION OF NURSING HOME LOCATED IN JAPAN

(Constituted in the Republic of Singapore pursuant to a trust deed dated 12 July 2007 (as amended))

COMPLETION OF THE ACQUISITION OF NURSING HOME

LOCATED IN JAPAN

Parkway Trust Management Limited, as manager of Parkway Life Real Estate Investment Trust ("Parkway Life REIT", and as manager of Parkway Life REIT, the "Manager"), is pleased to announce that further to its announcement on 10 December 2021 in relation to the acquisition of a nursing home in the Greater Tokyo Region of Japan (the "Property") by Godo Kaisha SAMURAI 16, the acquisition of the Property (Habitation Kisarazu Ichiban-kan) has been completed today.

BY ORDER OF THE BOARD Parkway Trust Management Limited (Company Registration no. 200706697Z)

As manager of Parkway Life Real Estate Investment Trust

Chan Wan Mei

Company Secretary

17 December 2021

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Important Notice

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in Parkway Life Real Estate Investment Trust ("Parkway Life REIT" and the units in Parkway Life REIT, the "Units").

The value of Units and the income from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by, Parkway Trust Management Limited, as manager of Parkway Life REIT (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 of Parkway Life REIT may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

The past performance of Parkway Life REIT or the Manager is not necessarily indicative of the future performance of Parkway Life REIT or the Manager.

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 these 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, shifts in expected levels of property rental income, changes in operating expenses, property expenses, governmental and public policy changes and the continued availability of financing in the amounts and on the terms necessary to support Parkway Life REIT's future business. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.

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