Mapletree Commercial Trust : Proposed Merger by way of a Trust Scheme of Arrangement (Dealings Disclosure)

To: An Authorised Person

For and on behalf of Mapletree Commercial Trust Management Ltd.

From: BlackRock, Inc.1

Relationship to MCT: Associate of MCT

Date: 24th January 2022

	1. Disclosure of Dealings in MCT units ("MCT Units") during the Trust Scheme Period
	Date of	Nature of Dealing		Number of MCT	Number of MCT	Price	Holdings in	Name of Registered Holder
	Purchase/Sale					Units	Units	Transacted	MCT Units	or Identity of Principal or
						Bought/Increased	Sold/Decreased	per MCT Unit	following the	Associate or other Person
									Transaction	Dealing
	21-Jan-22	Market purchase		BUY	15,600		1.86 SGD	154,793,875	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	44,400		1.858 SGD	154,838,275	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	118,200		1.8592 SGD	154,956,475	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	22,400		1.858 SGD	154,978,875	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	12,300		1.8592 SGD	154,991,175	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	3,200		1.86 SGD	154,994,375	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	30,100		1.8592 SGD	155,024,475	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	224,200		1.8592 SGD	155,248,675	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	97,300		1.86 SGD	155,345,975	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	91,100		1.8592 SGD	155,437,075	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	76,800		1.8592 SGD	155,513,875	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	2,200		1.86 SGD	155,516,075	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	24,700		1.8592 SGD	155,540,775	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	8,200		1.86 SGD	155,548,975	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	99,600		1.8592 SGD	155,648,575	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	21,600		1.8592 SGD	155,670,175	BlackRock, Inc.
	21-Jan-22	Market purchase		BUY	11,400		1.8592 SGD	155,681,575	BlackRock, Inc.

1	Dealings on behalf of investment clients have been made on a discretionary (not non-discretionary) basis.

21-Jan-22	Market Purchase	In-specie	60,500		N/A	155,742,075	BlackRock, Inc.
		Transfer
21-Jan-22	Stock Loan	Loan Return	1,500,000		N/A	157,242,075	BlackRock, Inc.

BlackRock, Inc. owns or controls 157,242,075 MCT Units after the dealings reported above, representing approximately 4.73% of the total number of issued MCT Units2.

2. Disclosure of Dealings in MNACT units ("MNACT Units") during the Trust Scheme Period

Date of	Nature of Dealing	Number of MNACT	Number of	Price	Holdings in	Name of Registered Holder
Purchase/Sale		Units	MNACT Units	Transacted	MNACT Units	or Identity of Principal or
		Bought/Increased	Sold/Decreased	per MNACT	following the	Associate or other Person
				Unit	Transaction	Dealing

BlackRock, Inc. owns or controls 62,296,895 MNACT Units after the dealings reported above, representing approximately 1.77% of the total number of issued MNACT Units3.

3. Disclosure of Dealings in Convertible Securities, Warrants, Options and Derivatives in respect of MCT Units ("Relevant MCT Securities") during the Trust Scheme Period

				Exercise			Name of
			Number(2) of			Registered Holder
			Date /		Holdings and Resultant
Date of	Nature of Transaction (Buy /	Price per MCT	or Identity of
Reference	Maturity Date	Percentage (%) in MCT Units
Transaction(1)	Sell / Settlement)	Unit(4)	Principal or
MCT Units	/ Closing-Out	following Transaction
				Associate or other
				Date(3)
						Person Dealing
						See Question 1 above - this
	Contract for					Transaction does not result in a
21-Jan-22	difference (cash-	BUY	11,700	N/A	1.86 SGD	change in holdings in MCT	BlackRock, Inc.
	settled only)					Units, on the basis that the
						Transaction is cash-settled

2

3

Based on 3,322,353,562 MCT Units outstanding as at the date hereof. Based on 3,527,974,156 MNACT Units outstanding as at the date hereof.

1. In respect of derivatives, this would be the date of entering into or closing out of the derivative.
2. In respect of derivatives, this would be the number of reference securities to which they relate.
3. In respect of derivatives, this would be the maturity date of such derivatives.
4. In respect of derivatives, this would be the reference price of such derivatives.

Other arrangements in relation to MCT Units or Relevant MCT Securities (if applicable): N/A

4. Disclosure of Dealings in Convertible Securities, Warrants, Options and Derivatives in respect of MNACT Units ("Relevant MNACT Securities") during the Trust Scheme Period

		Number(2)	Exercise			Name of Registered
Date of	Nature of Transaction (Buy / Sell	of	Date /	Price per	Holdings and Resultant	Holder or Identity of
Reference	Maturity Date	MNACT	Percentage (%) in MNACT	Principal or Associate
Transaction(1)	/ Settlement)
MNACT	/ Closing-Out	Unit(4)	Units following Transaction	or other Person
		Units	Date(3)			Dealing

1. In respect of derivatives, this would be the date of entering into or closing out of the derivative.
2. In respect of derivatives, this would be the number of reference securities to which they relate.
3. In respect of derivatives, this would be the maturity date of such derivatives.
4. In respect of derivatives, this would be the reference price of such derivatives.

Other arrangements in relation to MNACT Units or Relevant MNACT Securities (if applicable): N/A

The information relating to us/me or my close relatives (if applicable) is provided to the best of our/my knowledge, on a "best efforts" basis. I/We confirm that I/we agree to the MCT Manager disclosing the information provided herein to the Securities Industry Council and other regulatory authorities as may be required or necessary, such other persons as the MCT Manager may in its absolute discretion deem necessary or appropriate and in any public document which may be required by any regulatory authority or by any law or regulation (including, without limitation, the Singapore Code on Take-overs and Mergers).

I/We will promptly notify the MCT Manager should any of the said information prove to be untrue or incorrect in any respect between the date of this disclosure and the latest practicable date prior to the printing of the Scheme Document. In the absence of such notification, the parties involved in the preparation of the Scheme Document are entitled to assume that the information hereby furnished is true, accurate and complete and remains unchanged.

Yours faithfully

_______________________________

Name: Anh Do on behalf of BlackRock, Inc.