Parkway Life Real Estate Investment Trust : Renaming Of Audit Committee To Audit And Risk Committee

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

RENAMING OF AUDIT COMMITTEE TO AUDIT AND RISK COMMITTEE

The Board of Directors ("Board") of Parkway Trust Management Limited ("Company"), the Manager of Parkway Life Real Estate Investment Trust ("Parkway Life REIT"), announces that the Audit Committee of the Company has been renamed to Audit and Risk Committee with immediate effect to better reflect the Committee's existing roles and responsibilities in assisting the Board to oversee the risk management of the Company.

The composition of the Audit and Risk Committee remains unchanged as follows:-

Ms. Cheah Sui Ling	- Chairman, Independent Non-Executive Director
Mr. Ho Kian Guan	- Member, Independent Non-Executive Director
Dr. Jennifer Lee Gek Choo	- Member, Independent Non-Executive Director

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 22 April 2022

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 the 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.