(Constituted in the Republic of pursuant to a trust deed dated 19 January 2006 (as amended)) ASSET VALUATION Pursuant to Rule 703 of the SGXST Listing Manual, Ascott Residence Trust Management Limited ( Manager ), the manager of Ascott Residence Trust ( ), wishes to announce that the Manager has obtained independent valuations for the properties ( Properties ) owned by as of 30 June 2015 as listed below The valuations for the Properties as at 30 June 2015 were conducted by CBRE The valuations for the Properties (except for Ampang Kuala Lumpur) as at 31 December 2014 were conducted by Jones Lang LaSalle Consultants Pte Ltd 1,2 Ampang Kuala Lumpur was valued by C H Williams Talhar & Wong Sdn Bhd (as consultant to Jones Lang LaSalle Consultants Pte Ltd) Australia St Georges Terrace Quest Campbelltown 1 (held through DBS Trustee Limited as trustee of ) Perth AUD 260 268 AUD 260 280 Greater Sydney AUD 200 206 AUD 193 207 Quest Mascot 1 Quest Sydney Olympics Park 1 Greater Sydney Greater Sydney AUD 250 258 AUD 255 274 AUD 415 428 AUD 400 431 1 The valuations as of 1 August 2014 by the independent valuer, Savills Valuations Pty Ltd, were adopted as at 31 December 2014
Page 2 of 7 Indonesia (held through DBS Trustee Limited as trustee of ) Ascott Jakarta Jakarta USD 470 634 USD 470 611 Grand Citra Jakarta USD 300 405 USD 300 390 Japan Central Tokyo JPY 8,7000 947 JPY 8,3700 924 Shinjuku 2 Shinjuku Roppongi Residences Azabu East Zenith Residences KarasumaGojo Actus Hakata VTower Gravis Court Kakomachi Gravis Court Kokutaiji Gravis Court Nishiharaekimae Chioninmae Nijojomae Saga Tokyo JPY 7,6000 827 JPY 6,2300 688 Tokyo JPY 3,0000 326 JPY 30000 331 Tokyo JPY 3,5500 386 JPY 3,5300 390 Tokyo JPY 10,3610 1127 JPY 10,3600 1144 Kyoto JPY 3,6000 392 JPY 3,2300 357 Fukuoka JPY 3,5600 387 JPY 3,5700 394 Hiroshima JPY 5790 63 JPY 5840 65 Hiroshima JPY 4270 46 JPY 4280 47 Hiroshima JPY 3640 40 JPY 3570 39 Kyoto JPY 4510 49 JPY 4420 49 Kyoto JPY 7000 76 JPY 6770 75 Saga JPY 9050 98 JPY 8810 97 2 The valuation as of 10 September 2014 by the independent valuer, Savills Japan Co, Ltd, was adopted as at 31 December 2014
Page 3 of 7 Saga Idaidori Big Palace Kita 14jo Grand Mire Miyamachi Grand Mire Shintera (held through DBS Trustee Limited as trustee of ) Saga JPY 3130 34 JPY 3090 34 Sapporo JPY 1,4700 160 JPY 1,4700 162 Sendai JPY 1,0100 110 JPY 9760 108 Sendai JPY 5980 65 JPY 5910 65 Infini Garden Fukuoka JPY 6,5400 712 JPY 6,5400 722 Malaysia Ampang People s Republic of China Fortune Garden Apartments Grand Central Ascott Guangzhou Kuala Lumpur MYR 1700 629 MYR 1700 638 Beijing RMB 6020 1309 RMB 6010 1274 Dalian RMB 5500 1196 RMB 5760 1220 Guangzhou RMB 4950 1076 RMB 4930 1045 Biyun Shanghai RMB 3300 718 RMB 3430 727 Xu Hui Shanghai RMB 3250 707 RMB 3250 689 Heping Xinghai Olympic Tower Zhuankou Shenyang RMB 4200 913 RMB 4430 939 Suzhou RMB 1350 294 RMB 1310 278 Tianjin RMB 3300 718 RMB 3430 727 Wuhan RMB 2450 533 RMB 2610 553 Gaoxin Xi an RMB 2700 587 RMB 2760 584
Page 4 of 7 Ascott Raffles Place Mount Sophia Liang Court The Philippines (held through DBS Trustee Limited as trustee of ) 2240 2215 1340 2100 1340 2095 Ascott Makati Makati PHP 4,2000 1270 PHP 4,1700 1208 Millennium Salcedo Residences Vietnam Grand Hanoi Hoa Binh West Lake Chancellor Court Ho Chi Minh City Belgium Sainte Catherine Brussels Toison d Or Brussels Makati PHP 5050 153 PHP 5040 146 Makati PHP 340 10 PHP 340 10 Hanoi VND 1,700,0000 1054 VND 1,720,0000 1049 Hanoi VND 760,0000 471 VND 803,0000 490 Hanoi VND 255,0000 158 VND 274,0000 167 Ho Chi Minh City Ho Chi Minh City VND 945,0000 586 VND 903,0000 551 VND 715,0000 443 VND 690,0000 421 Brussels EUR 186 274 EUR 182 295 Brussels EUR 182 269 EUR 177 287
Page 5 of 7 France Croisette Cannes City Centre Grenoble City Centre Lille Presqu île Lyon Castellane Marseille Prado Chanot Marseille Antigone Montpellier Austerlitz Paris Didot Montparnasse Paris Les Halles Paris Maine Montparnasse Paris Montmartre Paris Place d Italie Paris République Paris (held through DBS Trustee Limited as trustee of ) Cannes EUR 40 59 EUR 43 69 Grenoble EUR 75 111 EUR 81 131 Lille EUR 105 155 EUR 104 168 Lyon EUR 125 185 EUR 127 205 Marseille EUR 60 89 EUR 63 101 Marseille EUR 55 81 EUR 61 98 Montpellier EUR 90 133 EUR 88 143 Paris EUR 65 96 EUR 62 100 Paris EUR 139 206 EUR 130 210 Paris EUR 615 908 EUR 616 997 Paris EUR 155 229 EUR 162 262 Paris EUR 230 340 EUR 232 376 Paris EUR 315 465 EUR 320 518 Paris EUR 135 199 EUR 138 224
Page 6 of 7 Suites Louvre Paris Tour Eiffel Paris Trocadéro Paris Germany Kurfϋrstendamm Berlin Madison Hamburg Arnulfpark Munich Spain Ramblas Barcelona United Kingdom Barbican London HolbornCovent Garden London South Kensington London Trafalgar Square London (held through DBS Trustee Limited as trustee of ) Paris EUR 324 479 EUR 323 523 Paris EUR 441 651 EUR 423 685 Paris EUR 271 401 EUR 266 431 Berlin EUR 103 152 EUR 127 206 Hamburg EUR 425 627 EUR 416 674 Munich EUR 210 310 EUR 193 313 Barcelona EUR 347 513 EUR 334 541 London GBP 375 775 GBP 372 761 London GBP 873 1802 GBP 862 1762 London GBP 387 799 GBP 373 763 London GBP 963 1990 GBP 958 1958
Page 7 of 7 Copies of the valuation reports of the Properties are available for inspection at the Manager s registered office at 168 Robinson Road, #3001 Capital Tower, 068912 during normal business hours for three months from the date of this announcement Prior appointment would be appreciated BY ORDER OF THE BOARD Ascott Residence Trust Management Limited (Company Registration No: 200516209Z) As manager of Ascott Residence Trust Kang Siew Fong / Regina Tan Joint Company Secretaries 22 July 2015 Important Notice The value of units in ( Units ) and the income from them may fall as well as rise Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates An investment in Units is subject to investment risks, including the possible loss of the principal amount invested Investors have no right to request the Manager to redeem their Units while the Units are listed It is intended that Unitholders may only deal in their Units through trading on Exchange Securities Trading Limited ( SGXST ) Listing of the Units on the SGXST does not guarantee a liquid market for the Units The past performance of is not necessarily indicative of the future performance of