#1a ascendas India Trust A Member of CapitaLand Investment Ascendas India Trust Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande Phase 2) 14 July 2022#2Disclaimer This presentation on the proposed forward purchase acquisition of industrial facilities at Mahindra World City, Chennai (Casa Grande – Phase 2) should be read in conjunction with a-iTrust's announcement, a copy of which is available on www.sgx.com or www.a-iTrust.com. This presentation may contain forward-looking statements. 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, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other developments or companies, shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training, property operating expenses), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management regarding future events. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Ascendas Property Fund Trustee Pte. Ltd. ("Trustee-Manager") nor any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use of, reliance on or distribution of this presentation or its contents or otherwise arising in connection with this presentation. The past performance of Ascendas India Trust ("a-iTrust”) is not indicative of future performance. The listing of the units in a-iTrust ("Units") on the Singapore Exchange Securities Trading Limited (SGX-ST) does not guarantee a liquid market for the Units. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Trustee-Manager. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Trustee-Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST. This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units. All measurements of floor area are defined herein as "Net Leasable Area" or "NLA", which is the area in respect of which rent is payable. The Indian Rupee and Singapore Dollar are defined herein as "INR/" and "SGD/S$" respectively. Any discrepancy between individual amounts and total shown in this presentation is due to rounding. Ascendas India Trust Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande - Phase 2) 2#3☐ Phase 2 Project Overview ZUMNA A ascendas India Trust A Member of CapitaLand Investment 111#4Key Statistics Location Vendor Land area and title Land tenure Phase 2A Project Project type Mahindra World City, Chennai Casa Grande Group Chengalpattu Warehousing Parks Private Limited ("CWPPL") has leased 7.35 acres of land from Mahindra World City Developers Limited, on which Phase 2A Project and Phase 2B Project (collectively "Phase 2 Project") are being developed - Residual lease term of ~ 95 years Net Leasable Area Status Phase 2B Project Industrial facility 0.02 million sq ft Construction has been completed and facility is fully pre-leased Project type Net Leasable Area Status Industrial facility 0.29 million sq ft Construction is expected to be completed by second half of 2023 Ascendas India Trust Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande - Phase 2) 4#5Location • Site is located within Mahindra World City, an integrated development spread across 1,550 acres in Chennai. . Site offers easy access to Chennai International Airport (~35 km) and Chennai Port (~55 km). TIRUVALLUR (~50 km) ENNORE PORT (~70 km) Site is in close proximity to established industrial facilities CHENNAI PORT (~55 km) MAPPEDU (~39 km) MANNUR (~39 km) CHENNAI INTERNATIONAL AIRPORT (~35 km) SRIPERUMBUDUR (~31 km) SUNGUVARCHATRAM (~29 km) O ORAGADAM (~22 km) PADAPPAI (~21 km) Sri Lakshmi * Gents&Ladies Pg ◉-BASF We create chemistry B BRAUN NCR B M FEDERAL MOGUL LINCOLN FORCE ELECTRIC MOTORS Parker FUJITEC HEAT AND CONTROL Phase 2 Project Site Casa Grande - Phase 11 PROJECT SITE (MAHINDRA WORLD CITY) Map provides indicative location; Not drawn to scale Warehousing/Industrial clusters around Chennai (distance from site in km) Map provides indicative location; Not drawn to scale 1. Refers to the 0.42 million sq ft fully leased industrial facility which a-iTrust acquired on 27 May 2022 Ascendas India Trust Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande - Phase 2) 5#6Ascendas India Trust 57.55 Layout Plan 7.20M WIDE DRIVE WAY 7.20M WIDE DRIVE WAY Phase 2A: 0.02 million sq ft | 39.69 7.20M WIDE RIVE WAY CAR PARKING 7.20M WIDE DRIVE WAY 7.20M WIDE DRIVE WAY TRUCK APRON Phase 2B: 0.29 million sq ft 7.35-acre Phase 2 Project Land 7.20M WIDE DRIVE WAY BUS PARKING 000000 TWO WHEELER BARKING 720M WIDE DRIVE WAY 24.50 66.15 720M WIDE DRIVE WAY 7.20M WIDE DRIVE WAY 101.42 720M WIDE DRIVE WAY PROPOSED BUILDING-02 7.20M WIDE DRIVE WAY T1 12 CAR PARKING DRIVE WAY 113.90 31 meter wide road Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande - Phase 2) 6#7Transaction Details aVance Pune ascendas India Trust A Member of CapitaLand Investment#8Transaction Details Funding a-iTrust shall provide total funding of INR650 million / S$11.6 million ¹ towards the Phase 2 Project²: . • INR50 million / S$0.9 million towards the Phase 2A Project, which has already been disbursed Balance INR600 million / S$10.7 million for construction of the Phase 2B Project. Acquisition . • Upon completion of the development of Phase 2 Project and after a stabilisation period of 12 months, a-iTrust shall purchase all of the issued share capital of CWPPL, the entity developing the Phase 2 Project. The purchase price is to be determined in accordance with an agreed formula, which takes into account pre-agreed capitalisation rate and rentals. The total purchase price is expected to be INR1,595 million³ / S$28.5 million. 1. Exchange rate of S$1 = INR56 is used throughout this presentation. 2. Phase 2A Project and Phase 2B Project are collectively referred to as Phase 2 Project. 3. Including the funding that has been used to complete the development of the Phase 2 Project. Ascendas India Trust Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande - Phase 2) 8#9A2 A14 811 11-06-01 Transaction Rationale 924 B11 Arshiya Warehouses, Mumbai, India A ascendas India Trust A Member of CapitaLand Investment#10Transaction Rationale Transaction offers further diversification industrial asset class, which remains resilient, especially during the pandemic. into the • • As a result of the acquisition of the Phase 2 Project, the share of logistics, industrial and data centre asset classes as a proportion of a-iTrust's portfolio 1 (in area terms) will increase from 8.3% to 9.4%. Mahindra World City is in an established industrial micro- market in Chennai. The Phase 2 Project is in close proximity to Casa Grande - Phase 12. • Transaction is expected to improve the earnings and distributions for Unitholders. Million sq ft Current Pipeline¹ Total 25.0 million sq ft Enlarged Portfolio Total 25.3 million sq ft 2.1 14% growth in Logistics/Industrial/ Data Centre 22.9 Current Pipeline IT Parks 2.4 22.9 Enlarged Portfolio I Logistics / Industrial / Data Centre 1. Includes the proposed acquisitions of: (i) two buildings in Aurum Q Parc as announced on 14 May 2018, (ii) aVance 5 as announced on 21 May 2018, (iii) aVance A1 & A2 in aVance Business Hub 2 as announced on 31 July 2018, (iv) Blue Ridge 3 as announced on 14 June 2019, (v) Arshiya warehouse in Khurja as announced on 13 March 2020, (vi) IT park at Hebbal as announced on 29 March 2021, (vii) Phase 1 of the data centre campus in Navi Mumbai as announced on 5 July 2021 and (viii) the development pipeline in existing projects. 2. Casa Grande - Phase 1 refers to the 0.42 million sq ft fully leased industrial facility which a-iTrust acquired on 27 May 2022. Ascendas India Trust Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande - Phase 2) 10#11Accretive Acquisition Pro forma FY 2021 net profits The FY 2021 pro forma net profit attributable to the acquisition is approximately S$1.3 million² assuming income generated from the Phase 2 Project on a stabilised basis. Pro forma NAV as at 31 December 20211 NAV per Unit (S$) Pro forma FY 2021 DPU ³ DPU (S$ cents) Before the acquisition After the acquisition 1.18 1.18 Before the acquisition After the acquisition 7.80 7.81 1. The pro-forma financial effects of the acquisition presented are strictly for illustration purposes only, and do not reflect the actual financial position of a-iTrust following the completion of the acquisition. Calculations assume that the transaction had been funded using 45% debt and 55% equity and is based on the 12-month audited financial statements as of 31 December 2021. 2. Estimated income available for distribution based on the assumed revenue derived from the Phase 2 Project post acquisition, net of operating, financing, trust expenses and withholding taxes. 3. Post retaining 10% of income available for distribution. Ascendas India Trust Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande - Phase 2) 11#12Investor Contact Cheah Ying Soon Chief Financial Officer Ascendas Property Fund Trustee Pte Ltd (Trustee-Manager of a-iTrust) Office: +65 6713 2888 Email: [email protected] Website: www.a-iTrust.com Ascendas India Trust Proposed Forward Purchase Acquisition of Industrial Facilities at Mahindra World City, Chennai (Casa Grande - Phase 2) 12#13a ascendas India Trust A Member of CapitaLand Investment Thank you