OUE Commercial REIT - Annual Report 2021

Notes: 1 The fees and charges payable by OUE C-REIT to DBS Trustee and the Manager under the Trust Deed (as amended) and to the Property Manager under the Master Property Management Agreement and the Individual Property Management Agreement of OUE Bayfront (each as defined in the prospectus of OUE C-REIT dated 17 January 2014) each of which constitutes an Interested Person Transaction, are deemed to have been specifically approved by the Unitholders upon subscription for the Units and are therefore not subject to Rules 905 and 906 of the Listing Manual to the extent that there is no subsequent change to the rates and/ or the bases of the fees charged thereunder which will adversely affect OUE C-REIT. The fees and charges payable by OUE C-REIT to the Property Manager under the Individual Property Management Agreement of OUE Downtown Office (each as defined in the circular dated 10 September 2018) are deemed to have been specifically approved by the Unitholders and are therefore not subject to Rules 905 and 906 of the Listing Manual to the extent that there is no subsequent change to the rates and/or the bases of the fees charged thereunder which will adversely affect OUE C-REIT. The fees and charges payable by OUE Hospitality Sub-Trust to RBC Trustee under the OUE H-REIT Trust Deed (as amended) and to the Property Manager under the Master Property Management Agreement, the Individual Property Management Agreement, the Shared Services Agreement, the Shared Electricity Services Agreement, the Licence Agreement, and the Mandarin Gallery Licence Agreement (each as defined in the prospectus of OUE Hospitality Trust (“OUE H-Trust”) dated 18 July 2013) each of which constitutes an Interested Person Transaction, are deemed to have been specifically approved by the stapled securityholders of OUE H-Trust upon subscription for the stapled securities at the initial public offering of OUE H-Trust and are therefore not subject to Rules 905 and 906 of the Listing Manual to the extent that there is no subsequent change to the rates and/ or the bases of the fees charged thereunder which will adversely affect OUE C-REIT. 2 Divestment fee at 0.5% of the sales consideration paid to the Manager in connection with the divestment of OUE Bayfront on 31 March 2021. 3 Income support arrangement of approximately S$15.0 million pursuant to the Deed of Rental Support on OUE Downtown Office (as defined in the circular dated 10 September 2018) is deemed to have been specifically approved by the Unitholders upon Unitholders’ approval of the Acquisition (in respect of the Deed of Rental Support on OUE Downtown Office) and is therefore not subject to Rules 905 and 906 of the Listing Manual insofar that there is no subsequent change to the terms thereunder which will adversely affect OUE C-REIT. The following table sets out a summary of Units issued for payment of the management fees during or in respect of the financial period from 1 January 2021 to 31 December 2021. For Period Issue Date Units issued *Issue Price (S$) 1 January 2021 to 31 March 2021 7 May 2021 5,472,835 0.3906 1 April 2021 to 30 June 2021 3 August 2021 4,852,688 0.4034 1 July 2021 to 30 September 2021 8 November 2021 4,431,851 0.4459 1 October 2021 to 31 December 2021 21 February 2022 7,076,798 0.4314 * Based on the volume weighted average traded price for a Unit for all trades on the SGX-ST in the ordinary course of trading on the SGX-ST for the last ten business days of the relevant period in which the management fee accrues. 243 A N N U A L R E P O R T 2 0 2 1