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SGX-ST Announcement

ISSUE PRICE OF NEW UNITS PURSUANT TO THE

DISTRIBUTION REINVESTMENT PLAN FOR THE DISTRIBUTION PERIOD

FROM 1 JULY 2021 TO 31 DECEMBER 2021

YTL Starhill Global REIT Management Limited, in its capacity as manager of Starhill Global Real Estate Investment Trust ("Starhill Global REIT" and as manager of Starhill Global REIT, the "Manager"), wishes to announce that further to the announcement dated 25 January 2022 in relation to the application of a distribution reinvestment plan (the "DRP") to the distribution of 1.78 cents per unit in Starhill Global REIT ("Unit") for the distribution period from 1 July 2021 to 31 December 2021 (the "Distribution"), the issue price of the new Units to be issued under the DRP in respect of the Distribution is S$0.6109 per Unit.

The issue price represents a discount of approximately 2% to the volume-weighted average traded price per Unit ("VWAP") for all trades on Singapore Exchange Securities Trading Limited (the "SGX-ST") for each of the Market Days1 during the period of 10 Market Days prior to and ending on the record date on 4 February 2022. The number of Units to be issued to unitholders of Starhill Global REIT ("Unitholders") pursuant to the DRP shall be rounded down to the nearest whole Unit, fractional entitlements to be disregarded.

The Notices of Election2 are expected to be dispatched to all eligible Unitholders on or around 14 February 2022. The Manager will announce further details about the dispatch of the Notices of Election in due course.

Important Dates and Times

Date/Time	Event
Monday, 14 February 2022	Despatch of Notices of Election and Tax Declaration Forms
By Wednesday, 2 March 2022 at	Completed Notices of Election and Tax Declaration Forms, if
5.00 p.m.	applicable in respect of participation in the DRP must be
	received by the Unit Registrar
Wednesday, 23 March 2022	Payment of Distribution and Issuance, Crediting and Listing of
	the Units issued pursuant to the DRP on the SGX-ST

• "Market Day" means a day on which the SGX-ST is open for trading in securities.

• "Notices of Election" means one or more notices of election (in such form as the Manager may approve) which the Manager will, at its discretion, send to each Unitholder and through which each Unitholder may indicate whether they wish to participate in the DRP.

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By Order of the Board

YTL Starhill Global REIT Management Limited (Company registration no. 200502123C)

(as manager of Starhill Global Real Estate Investment Trust)

Lam Chee Kin

Joint Company Secretary

Singapore

4 February 2022

About Starhill Global REIT

Starhill Global REIT is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas. Since its listing on the Mainboard of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 20 September 2005, Starhill Global REIT has grown its initial portfolio from interests in two landmark properties on Orchard Road in Singapore to 10 properties in Singapore, Australia, Malaysia, China and Japan, valued at about S$3.0 billion.

These comprise interests in Wisma Atria and Ngee Ann City on Orchard Road in Singapore, Myer Centre Adelaide, David Jones Building and Plaza Arcade in Adelaide and Perth, Australia, The Starhill and Lot 10 in Kuala Lumpur, Malaysia, a retail property in Chengdu, China and two properties in Tokyo, Japan. Starhill Global REIT remains focused on sourcing attractive property assets in Singapore and overseas, while driving organic growth from its existing portfolio, through proactive leasing efforts and creative asset enhancements.

Starhill Global REIT is managed by an external manager, YTL Starhill Global REIT Management Limited, of which all of its shares are indirectly held by YTL Corporation Berhad.

Important Notice

The value of units in Starhill Global REIT ("Units") and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager, HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Starhill Global REIT), or any of their affiliates. An investment in Units is subject to investment risks, including possible delays in repayment, loss of income or principal invested. The Manager and its affiliates do not guarantee the performance of Starhill Global REIT or the repayment of capital from Starhill Global REIT or any particular rate of return. Unitholders have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on the SGX-ST.

It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This document is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units. The past performance of Starhill Global REIT is not indicative of the future performance of Starhill Global REIT. Similarly, the past performance of the Manager is not indicative of the future performance of the Manager.

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This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, outbreak of contagious diseases or pandemic, interest rate and foreign exchange trends, cost of capital and capital availability, competition from other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view on future events.

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