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3Q FY12/13 Investor Presentation ASEAN Stars Conference 2012 1 March 2012

Asia’s First Listed Indian Property Trust

Ascendas India Trust Extraordinary General Meeting

13th July 2017

Asia’s First Listed Indian Property Trust

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• Terms of the New Master Property Management Agreement

(“New Master PMA”)

Content

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Terms of the New Master PMA

• The Trustee-Manager proposes to continue the appointment of Ascendas

Services (India) Private Limited (“ASIPL”) as the property manager for properties owned by a-iTrust by entering into the proposed New Master

• PMA. Terms are substantially the same as the terms of the Existing Master

PMA.

• The New Master PMA will be for a term of 10 years, commencing from 1

August 2017 immediately following the expiry of the Existing Master PMA on 1 August 2017.

Appointment of Property Manager and duration

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Fees Fee Structure Property management fees 2.0% per annum of Gross Revenue Lease management fees 1.0% per annum of Gross Revenue Marketing services commissions < 1 year 1-3 years > 3 but ≤ 10 years > 10 years 1 month rental 1.5 months rental 2 months rental 2% of total lease payments

• Renewal will be half of the amount calculated using the above

fee structure.

• In the event a third party is appointed, an additional 20% of the

commission shall be payable.

• No commission payable for additional space taken up.
• In the case of a sale of any of a-iTrust’s properties, 2% of the

total sale consideration shall be payable. Project management services fees 2.0% of construction cost Reimbursements

• Property Management Services
• Reimbursable Services
• Project Management Services

Fees payable to ASIPL

Fee structure

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Changes in the New Master PMA

Existing Master PMA New Master PMA “Gross Revenue” excludes turnover rent. Includes turnover rent. The inclusion of turnover rent is not material as the turnover rent in FY2016/2017 was ~0.3% of the Gross Revenue. Currently, only certain leases within Park Square Mall (International Tech Park Bangalore) have the turnover rent clause in the tenancy agreements.

(i) Definition of Gross Revenue

Existing Master PMA New Master PMA Administrative fee of 20% is payable to property manager on the relevant apportionment of remuneration cost of centralised personnel for their provision of reimbursable services. No 20% administrative fee will be payable.

(ii) Reimbursable Services

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• Rationale for entry into the New PMA

Content

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98% 98% 97% 97% 96% 96% 96% 96% 95% 98%2 0% 20% 40% 60% 80% 100% Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17

• 1. The occupancy rate comprises stabilised buildings (excluding buildings that were completed within the financial year).
• 2. Excluding Blueridge IT/ITES Special Economic Zone Phase II which was acquired in February 2017.

Occupancy rate1

Healthy occupancy rate

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92% 89% 77% 63% 78% 77% 94% 86% 86% 80% 0% 20% 40% 60% 80% 100% Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17

Tenant retention rate

High tenant retention rate

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3.6 3.6 4.7 4.8 4.8 6.0 6.9 6.9 7.5 8.1 9.0 1.1 1.2 0.5 0.6 0.6 0.1 0.4 0.6 1.0 1.5 IPO Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Million square feet Portfolio Development Acquisition 3.6 4.7 4.8 4.8 6.0 6.9 7.5 6.9 8.1 9.0 11.1

Good portfolio growth through development

Portfolio floor area

Total portfolio growth: 7.6 million sq ft Percentage of portfolio growth through developments: 52.9% Total developments: 4.0 million sq ft

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Net property income

1.65 2.12 2.45 2.43 2.81 3.16 3.45 3.68 4.42 5.05 FY07/08 FY08/09 FY09/10 FY10/11 FY11/12 FY12/13 FY13/14 FY14/15 FY15/16 FY16/17 INR (billion)

Consistent growth in net property income

13% CAGR

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• Opinion of the Independent Financial Adviser (“IFA”)

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• The Trustee-Manager has appointed KPMG Corporate Finance Pte Ltd as the IFA

to advise the independent directors of the Trustee-Manager in relation to the New Master PMA (the “IFA Letter”).

• Based on the considerations set out in the IFA Letter and subject to the

qualifications and assumptions therein, the IFA is of the opinion that the terms

• f the New Master PMA are on normal commercial terms and are not prejudicial

to the interests of a-iTrust and its minority Unitholders.

New Master PMA on normal commercial terms

Opinion of the IFA

3Q FY12/13 Investor Presentation ASEAN Stars Conference 2012 1 March 2012

Asia’s First Listed Indian Property Trust

Ascendas India Trust Extraordinary General Meeting

13th July 2017

Asia’s First Listed Indian Property Trust