Ascendas Hospitality Trust (" A-HTRUST" ) is a stapled pan-asian hospitality trust comprising Ascendas Hospitality Real Estate Investment Trust (" A-HREIT" ) and Ascendas Hospitality Business Trust (" A-HBT" ), established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate used predominantly for hospitality purposes located across Asia, Australia and New Zealand, as well as real estate-related assets in connection with the foregoing.

In addition, A-HBT's investment policy also includes the operation and management of the real estate assets which are held by A-HREIT and/or A-HBT.

The term " hospitality" refers to properties used primarily for hospitality purposes, examples of which include but are not limited to hotels, serviced residences, facilities for meetings, incentives, conventions and exhibitions (" MICE" ), whether standalone or as part of a larger mixed-use development which may include commercial, entertainment, retail and leisure facilities.

The initial asset portfolio of A-HTRUST (the " Initial Portfolio" ) comprises 10 properties with 3,482 rooms and a valuation of approximately S$1,057 million. The Initial Portfolio comprises Ibis Beijing Sanyuan, Novotel Beijing Sanyuan, Ariake Sunroute and a 100.0% stake in Ascendas Australia Hotel Fund (" AAHF" ) which has a portfolio of seven hotels in Australia. These seven hotels are Courtyard by Marriott North Ryde, Pullman Sydney Hyde Park (formerly known as Sydney Marriott), Citigate Central Sydney, Sebel Parramatta, Sebel & Citigate Albert Park, Sebel & Citigate King George Square and Sebel Cairns Hotel (the " AAHF Hotels" ). The acquisition of Ibis Beijing Sanyuan by A-HTRUST is expected to be completed after the Listing Date.

OFFERING OF 437,325,000 STAPLED SECURITIES (SUBJECT TO THE OVER-ALLOTMENT OPTION (AS DEFINED HEREIN)) CONSISTING OF

(I) AN INTERNATIONAL PLACEMENT OF 355,143,000 STAPLED SECURITIES TO INVESTORS OUTSIDE THE UNITED STATES OF AMERICA (THE " U.S." OR " UNITED STATES" , INCLUDING INSTITUTIONAL AND OTHER INVESTORS IN SINGAPORE (THE " PLACEMENT TRANCHE" ), AND

(II) AN OFFERING OF 82,182,000 STAPLED SECURITIES TO THE PUBLIC IN SINGAPORE (THE " PUBLIC OFFER" ) OF WHICH 14,000,000 STAPLED SECURITIES WILL BE RESERVED FOR SUBSCRIPTION BY THE DIRECTORS, MANAGEMENT, EMPLOYEES AND BUSINESS ASSOCIATES OF ASCENDAS PTE LTD AND ITS SUBSIDIARIES.

OFFERING PRICE: S$0.88 PER STAPLED SECURITY

EACH STAPLED SECURITY COMPRISES A UNIT IN ASCENDAS HOSPITALITY REAL ESTATE INVESTMENT TRUST (" A-HREIT UNIT" ) AND A UNIT IN ASCENDAS HOSPITALITY BUSINESS TRUST (" A-HBT UNIT" ).

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