BURSA ANNOUNCEMENTS

We refer to the announcements dated 5 December 2024, 16 December 2024, 27 January 2025 and 13 February 2025 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions for capitalised terms as set out in the Announcements shall apply herein.

On behalf of the Board, the Joint Principal Advisers wish to announce that Bursa Securities had, vide its letter dated 27 March 2025, resolved to approve the listing of and quotation for the following:

1.   up to 172,377,600 Consideration Units to be issued pursuant to the Proposed Acquisitions; and

2.   up to 386,014,000 Placement Units (which include the Placement Units to be issued for the Proposed Placement to EPF) to be issued pursuant to the Proposed Placement.

The approval by Bursa Securities for the above is subject to the following conditions:

1.   Pavilion REIT and the Joint Principal Advisers must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Issuance of Consideration Units and the Proposed Placement;

2.   The Joint Principal Advisers to inform Bursa Securities upon the completion of the Proposed Issuance of Consideration Units and the Proposed Placement;

3.   Pavilion REIT or the Joint Principal Advisers to confirm and furnish the following to Bursa Securities prior to the listing of and quotation for the Consideration Units and the Placement Units:

       (a)   Confirmation from the Joint Principal Advisers that Pavilion REIT complies fully with the 25% public unitholding spread requirement pursuant to Paragraph 8.02(1) of the Listing Requirements; and

       (b)   A certified true copy of the resolutions passed by the Unitholders approving the Proposed Acquisitions, Proposed Issuance of Consideration Units, Proposed Placement and Proposed Placement to EPF;

4.   The Joint Principal Advisers to furnish Bursa Securities with a written confirmation of their compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Issuance of Consideration Units and the Proposed Placement are completed; and

5.   Payment of outstanding additional listing fees based on the market value of the Consideration Units and the Placement Units to be listed, if applicable. In this respect, Pavilion REIT is required to furnish Bursa Securities a cheque drawn to the order of Bursa Securities for the outstanding listing fee together with a copy of the details of the computation of the amount of fees payable.

This announcement is dated 28 March 2025.