BURSA ANNOUNCEMENTS

Proposed acquisitions by MTrustee Berhad, acting as the trustee for and on behalf of Pavilion REIT ("Trustee"), 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")

Proposed issuance of up to 172,377,600 new units in Pavilion REIT ("Units"), representing up to approximately 4.7% of the existing total Units in issue, at an issue price to be determined later to the Vendors and/or their authorised nominee(s) to part settle up to RM246.50 million of the Purchase Consideration ("Consideration Units") ("Proposed Issuance Of Consideration Units")

Proposed placement of a minimum of 184,615,400 new Units and a maximum of 386,014,000 new Units ("Placement Units"), representing approximately 5.0% and approximately 10.5% of the existing total Units in issue, respectively at an issue price to be determined later by way of bookbuilding to raise gross proceeds of a minimum of RM264.00 million and a maximum of RM552.00 million ("Proposed Placement")

Proposed placement of up to 162,877,200 new Units, representing up to approximately 4.4% of the existing total Units in issue, to Employees Provident Fund Board ("EPF"), being a major unitholder of Pavilion REIT, and/or persons connected with it in conjunction with the Proposed Placement ("Proposed Placement To EPF")

Proposed leases of the Subject Hotels to HPSB ("Lessee") ("Proposed Leases")