On behalf of the board of directors of Sunway REIT Management Sdn. Bhd. (“Board”), being the manager of Sunway REIT (“Manager”), RHB Investment Bank Berhad (“RHB Investment Bank”) wishes to announce that RHB Trustees Berhad, as the trustee of Sunway REIT (“Trustee”), had on 29 June 2020 entered into a conditional sale and purchase agreement with Sunway Integrated Properties Sdn. Bhd. and Sunway Pinnacle Sdn. Bhd., both of which are wholly-owned indirect subsidiaries of Sunway Berhad, for the acquisition of The Pinnacle Sunway (as defined in the attachment below) for a cash consideration of RM450.0 million (“Proposed Acquisition”).

Further, RHB Investment Bank also wishes to announce that the Trustee, on the recommendation of the Manager, is proposing to undertake the following transactions:

(i) a proposed private placement to raise gross proceeds of up to RM710.0 million at an issue price to be determined later by the Board which is to be undertaken under a new general mandate for the allotment and issuance of new units in Sunway REIT to be sought at the forthcoming 8th Annual General Meeting of Sunway REIT(“New Mandate”) (“Proposed Private Placement”). Please refer to Section 2.2.1 of the attachment below for further details of the New Mandate; and

(ii) the proposed establishment of a distribution reinvestment scheme that provides the unitholders of Sunway REIT with an option to elect to reinvest, in whole or in part, their cash income distribution in new units in Sunway REIT (“Proposed DRS”).

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

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

This announcement is dated 29 June 2020.