BURSA ANNOUNCEMENTS

On behalf of the Board of Directors of Pavilion REIT Management Sdn Bhd, the management company of Pavilion REIT, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad wish to announce the following:

(i) Proposed acquisitions by MTrustee Berhad, acting as the trustee for and on behalf of Pavilion REIT, of Banyan Tree Kuala Lumpur (“BTKL”) from Lumayan Indah Sdn Bhd (“LISB”)    and Pavilion Hotel Kuala Lumpur (“PHKL”) from Harmoni Perkasa Sdn Bhd (“HPSB”) (LISB and HPSB are collectively referred to as “Vendors”) for a total purchase consideration of RM480.00 million (“Purchase Consideration”) (“Proposed Acquisitions”);

(ii) Proposed placement of new units in Pavilion REIT (“Units”) to raise gross proceeds of a minimum of RM264.00 million and a maximum of RM552.00 million at an issue price to be determined by way of bookbuilding (“Proposed Placement”);

(iii) Proposed issuance of new Units at an issue price to be determined later to part settle RM246.50 million of the Purchase Consideration (“Consideration Units”), to the Vendors pursuant to the terms and conditions of the Proposed Acquisitions (“Proposed Issuance of Consideration Units”); and

(iv) Proposed leases of BTKL and PHKL to HPSB (“Proposed Leases”).

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

This announcement is dated 5 December 2024.