On behalf of the board of directors of UOA Asset Management Sdn. Bhd. (“Board”), being the manager of UOA REIT (“Manager”), RHB Investment Bank Berhad wishes to announce that RHB Trustees Berhad, as the trustee of UOA REIT, upon the recommendation of the Manager:

(i) had on 28 September 2020 entered into a conditional sale and purchase agreement with Distinctive Acres Sdn. Bhd., a wholly-owned indirect subsidiary of UOA Development Bhd and Paramount Properties Sdn. Bhd., a wholly-owned subsidiary of UOA Development Bhd for the proposed acquisition of UOA Corporate Tower for a cash consideration of RM700.0 million (“Proposed Acquisition”); and

(ii) proposes to undertake a proposed private placement of such number of new units in UOA REIT to raise gross proceeds of up to RM280.0 million at an issue price to be determined later by the Board by way of a bookbuilding exercise (“Proposed Private Placement”).

The Proposed Acquisition and Proposed Private Placement are collectively referred to as the “Proposals”.

Please refer to the attachment for further details of the Proposals.

This announcement is dated 28 September 2020.