Remarks
Transferred a total of 251,880 units in PARAGON REIT held by PARAGON REIT Management Pte. Ltd. (the "Company") for the purpose of Performance Unit Award to the staff of the Company and Straits Retail Property Management Services Pte. Ltd. (the "Property Manager").

Immediately after the transaction

No. of ordinary voting shares/units held: 148031719 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 5.21400000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of units "Immediately before the transaction" and "Immediately after the transaction" is based on 2,839,010,006 units as at 3 March 2025.

IMPORTANT NOTICE: This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units.

The value of Units and the income derived from them, if any, may fall or 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 should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on Singapore Exchange Securities Trading Limited (the "SGX-ST"). It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. The listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

Remarks
Vesting of share awards

Immediately after the transaction

No. of ordinary voting shares/units held: 1122526 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.03950000 (Direct Interest); 0.00000000 (Deemed Interest)

Remarks
Type of securities which are subject of the transaction Award of 409,800 units (based on 100% of grant) in PARAGON REIT granted under the Performance Unit Award on 3 March 2025, subject to certain conditions being met and other terms and conditions.

Acceptance of employee share options/share awards

Immediately after the transaction

PUA Grant Award of PARAGON REIT units 1,0208,700

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Cuscaden Peak Pte Ltd's ("Cuscaden Peak") deemed interest of 61.51% in the Paragon REIT Units ("Units") arises as follows:
(i) Paragon REIT Management Pte Ltd ("REIT Manager") owns 5.22% of the Units;
(ii) Times Properties Pte Ltd ("TPPL") owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd. ("CP2PL") owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited ("DBS Nominees").
The REIT Manager, TPPL, and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden Peak.
Cuscaden Peak is therefore deemed to be interested in the Units that the REIT Manager, TPPL, CP2PL and DBS Nominees have an interest in.

Tiga Stars Pte. Ltd. ("Tiga Stars") has an interest of more than 20% in Cuscaden Peak, Tiga Stars is therefore deemed to have an interest in the Units that Cuscaden Peak has an interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore ("SFA").

As of 24 January 2025, Tiga Stars ceased to hold any shareholdings in Cuscaden Peak and no longer owns any interest in Cuscaden Peak. Hotel Properties Limited ("HPL"), Tiga Stars' parent company, plans to focus its resources on the development of its other assets and projects.

(i) Tiga Stars is a subsidiary of HPL and an associated company of Como Holdings Inc.
(ii) 68 Holdings Pte. Ltd. holds directly 34.08% of the shares in HPL.
(iii) Cuscaden Partners Pte. Ltd. is deemed to have an interest in the shares held by 68 Holdings Pte. Ltd.
(iv) Mr Ong Beng Seng holds directly 20.91% of the shares in HPL and is deemed interested in the shares of HPL held by 68 Holdings Pte. Ltd., his spouse, Comojo Holdings Pte. Ltd. and Reef Holdings Pte. Ltd. Mr Ong Beng Seng is also the sole shareholder of Como Holdings Inc.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Cuscaden Peak Pte Ltd's ("Cuscaden Peak") deemed interest of 61.51% in the Paragon REIT Units ("Units") arises as follows:
(i) Paragon REIT Management Pte Ltd ("REIT Manager") owns 5.22% of the Units;
(ii) Times Properties Pte Ltd ("TPPL") owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd. ("CP2PL") owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited ("DBS Nominees").
The REIT Manager, TPPL, and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden Peak.
Cuscaden Peak is therefore deemed to be interested in the Units that the REIT Manager, TPPL, CP2PL and DBS Nominees have an interest in.

Tiga Stars Pte. Ltd. ("Tiga Stars") has an interest of more than 20% in Cuscaden Peak, Tiga Stars is therefore deemed to have an interest in the Units that Cuscaden Peak has an interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore ("SFA").

As of 24 January 2025, Tiga Stars ceased to hold any shareholdings in Cuscaden Peak and no longer owns any interest in Cuscaden Peak. Hotel Properties Limited ("HPL"), Tiga Stars' parent company, plans to focus its resources on the development of its other assets and projects.

(i) Tiga Stars is a subsidiary of HPL and an associated company of Como Holdings Inc.
(ii) 68 Holdings Pte. Ltd. holds directly 34.08% of the shares in HPL.
(iii) Cuscaden Partners Pte. Ltd. is deemed to have an interest in the shares held by 68 Holdings Pte. Ltd.
(iv) Mr Ong Beng Seng holds directly 20.91% of the shares in HPL and is deemed interested in the shares of HPL held by 68 Holdings Pte. Ltd., his spouse, Comojo Holdings Pte. Ltd. and Reef Holdings Pte. Ltd. Mr Ong Beng Seng is also the sole shareholder of Como Holdings Inc.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Cuscaden Peak Pte Ltd's ("Cuscaden Peak") deemed interest of 61.51% in the Paragon REIT Units ("Units") arises as follows:
(i) Paragon REIT Management Pte Ltd ("REIT Manager") owns 5.22% of the Units;
(ii) Times Properties Pte Ltd ("TPPL") owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd. ("CP2PL") owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited ("DBS Nominees").
The REIT Manager, TPPL, and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden Peak.
Cuscaden Peak is therefore deemed to be interested in the Units that the REIT Manager, TPPL, CP2PL and DBS Nominees have an interest in.

Tiga Stars Pte. Ltd. ("Tiga Stars") has an interest of more than 20% in Cuscaden Peak, Tiga Stars is therefore deemed to have an interest in the Units that Cuscaden Peak has an interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore ("SFA").

As of 24 January 2025, Tiga Stars ceased to hold any shareholdings in Cuscaden Peak and no longer owns any interest in Cuscaden Peak. Hotel Properties Limited ("HPL"), Tiga Stars' parent company, plans to focus its resources on the development of its other assets and projects.

(i) Tiga Stars is a subsidiary of HPL and an associated company of Como Holdings Inc.
(ii) 68 Holdings Pte. Ltd. holds directly 34.08% of the shares in HPL.
(iii) Cuscaden Partners Pte. Ltd. is deemed to have an interest in the shares held by 68 Holdings Pte. Ltd.
(iv) Mr Ong Beng Seng holds directly 20.91% of the shares in HPL and is deemed interested in the shares of HPL held by 68 Holdings Pte. Ltd., his spouse, Comojo Holdings Pte. Ltd. and Reef Holdings Pte. Ltd. Mr Ong Beng Seng is also the sole shareholder of Como Holdings Inc.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Cuscaden Peak Pte Ltd's ("Cuscaden Peak") deemed interest of 61.51% in the Paragon REIT Units ("Units") arises as follows:
(i) Paragon REIT Management Pte Ltd ("REIT Manager") owns 5.22% of the Units;
(ii) Times Properties Pte Ltd ("TPPL") owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd. ("CP2PL") owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited ("DBS Nominees").
The REIT Manager, TPPL, and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden Peak.
Cuscaden Peak is therefore deemed to be interested in the Units that the REIT Manager, TPPL, CP2PL and DBS Nominees have an interest in.

Tiga Stars Pte. Ltd. ("Tiga Stars") has an interest of more than 20% in Cuscaden Peak, Tiga Stars is therefore deemed to have an interest in the Units that Cuscaden Peak has an interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore ("SFA").

As of 24 January 2025, Tiga Stars ceased to hold any shareholdings in Cuscaden Peak and no longer owns any interest in Cuscaden Peak. Hotel Properties Limited ("HPL"), Tiga Stars' parent company, plans to focus its resources on the development of its other assets and projects.

(i) Tiga Stars is a subsidiary of HPL and an associated company of Como Holdings Inc.
(ii) 68 Holdings Pte. Ltd. holds directly 34.08% of the shares in HPL.
(iii) Cuscaden Partners Pte. Ltd. is deemed to have an interest in the shares held by 68 Holdings Pte. Ltd.
(iv) Mr Ong Beng Seng holds directly 20.91% of the shares in HPL and is deemed interested in the shares of HPL held by 68 Holdings Pte. Ltd., his spouse, Comojo Holdings Pte. Ltd. and Reef Holdings Pte. Ltd. Mr Ong Beng Seng is also the sole shareholder of Como Holdings Inc.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Cuscaden Peak Pte Ltd's ("Cuscaden Peak") deemed interest of 61.51% in the Paragon REIT Units ("Units") arises as follows:
(i) Paragon REIT Management Pte Ltd ("REIT Manager") owns 5.22% of the Units;
(ii) Times Properties Pte Ltd ("TPPL") owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd. ("CP2PL") owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited ("DBS Nominees").
The REIT Manager, TPPL, and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden Peak.
Cuscaden Peak is therefore deemed to be interested in the Units that the REIT Manager, TPPL, CP2PL and DBS Nominees have an interest in.

Tiga Stars Pte. Ltd. ("Tiga Stars") has an interest of more than 20% in Cuscaden Peak, Tiga Stars is therefore deemed to have an interest in the Units that Cuscaden Peak has an interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore ("SFA").

As of 24 January 2025, Tiga Stars ceased to hold any shareholdings in Cuscaden Peak and no longer owns any interest in Cuscaden Peak. Hotel Properties Limited ("HPL"), Tiga Stars' parent company, plans to focus its resources on the development of its other assets and projects.

(i) Tiga Stars is a subsidiary of HPL and an associated company of Como Holdings Inc.
(ii) 68 Holdings Pte. Ltd. holds directly 34.08% of the shares in HPL.
(iii) Cuscaden Partners Pte. Ltd. is deemed to have an interest in the shares held by 68 Holdings Pte. Ltd.
(iv) Mr Ong Beng Seng holds directly 20.91% of the shares in HPL and is deemed interested in the shares of HPL held by 68 Holdings Pte. Ltd., his spouse, Comojo Holdings Pte. Ltd. and Reef Holdings Pte. Ltd. Mr Ong Beng Seng is also the sole shareholder of Como Holdings Inc.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Cuscaden Peak Pte Ltd's ("Cuscaden Peak") deemed interest of 61.51% in the Paragon REIT Units ("Units") arises as follows:
(i) Paragon REIT Management Pte Ltd ("REIT Manager") owns 5.22% of the Units;
(ii) Times Properties Pte Ltd ("TPPL") owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd. ("CP2PL") owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited ("DBS Nominees").
The REIT Manager, TPPL, and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden Peak.
Cuscaden Peak is therefore deemed to be interested in the Units that the REIT Manager, TPPL, CP2PL and DBS Nominees have an interest in.

Tiga Stars Pte. Ltd. ("Tiga Stars") has an interest of more than 20% in Cuscaden Peak, Tiga Stars is therefore deemed to have an interest in the Units that Cuscaden Peak has an interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore ("SFA").

As of 24 January 2025, Tiga Stars ceased to hold any shareholdings in Cuscaden Peak and no longer owns any interest in Cuscaden Peak. Hotel Properties Limited ("HPL"), Tiga Stars' parent company, plans to focus its resources on the development of its other assets and projects.

(i) Tiga Stars is a subsidiary of HPL and an associated company of Como Holdings Inc.
(ii) 68 Holdings Pte. Ltd. holds directly 34.08% of the shares in HPL.
(iii) Cuscaden Partners Pte. Ltd. is deemed to have an interest in the shares held by 68 Holdings Pte. Ltd.
(iv) Mr Ong Beng Seng holds directly 20.91% of the shares in HPL and is deemed interested in the shares of HPL held by 68 Holdings Pte. Ltd., his spouse, Comojo Holdings Pte. Ltd. and Reef Holdings Pte. Ltd. Mr Ong Beng Seng is also the sole shareholder of Como Holdings Inc.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Angelhead Limited's (Angelhead) deemed interest via Hotel Properties Limited (HPL) arises as follows:
1. Cuscaden Peak Pte. Ltd.'s (Cuscaden) deemed interest of 61.51% in the Paragon REIT Units (Units) through:
(i) Paragon REIT Management Pte. Ltd. (REIT Manager) owns 5.22% of the Units;
(ii) Times Properties Pte Ltd (TPPL) owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd (CP2PL) owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited.
The REIT Manager, TPPL and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden

2) Tiga Stars Pte. Ltd. (Tiga) has an interest of more than 20% in Cuscaden.
3) Hotel Properties Limited (HPL) is the majority shareholder of Tiga
4) Nassim Developments Pte. Ltd. (Nassim) has an interest of 22.34% in HPL
5) Nassim is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. (WII)
6) WII is a wholly-owned subsidiary of City Fairy Limited (CFL)
7) CFL is a wholly-owned subsidiary of Angelhead Limited.

Angelhead Limited is therefore deemed to have an interest in the Units that HPL has a deemed interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore.

As of 24 January 2025, Tiga ceased to hold any shareholdings in Cuscaden and no longer owns any interest in Cuscaden.

Nassim Developments Pte. Ltd. is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. which in turn is a wholly-owned subsidiary of City Fairy Limited (CFL). CFL is a wholly-owned subsidiary of Angelhead Limited which in turn is wholly-owned by Mr Peter Kwong Ching Woo.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

City Fairy Limited's (CFL) deemed interest via Hotel Properties Limited (HPL) arises as follows:
1. Cuscaden Peak Pte. Ltd.'s (Cuscaden) deemed interest of 61.51% in the Paragon REIT Units (Units) through:
(i) Paragon REIT Management Pte. Ltd. (REIT Manager) owns 5.22% of the Units;
(ii) Times Properties Pte Ltd (TPPL) owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd (CP2PL) owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited.
The REIT Manager, TPPL and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden

2) Tiga Stars Pte. Ltd. (Tiga) has an interest of more than 20% in Cuscaden
3) Hotel Properties Limited (HPL) is the majority shareholder of Tiga
4) Nassim Developments Pte. Ltd. (Nassim) has an interest of 22.34% in HPL
5) Nassim is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. (WII)
6) WII is a wholly-owned subsidiary of CFL

CFL is therefore deemed to have an interest in the Units that HPL has a deemed interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore.

As of 24 January 2025, Tiga ceased to hold any shareholdings in Cuscaden and no longer owns any interest in Cuscaden.

Nassim Developments Pte. Ltd. is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. which in turn is a wholly-owned subsidiary of City Fairy Limited (CFL). CFL is a wholly-owned subsidiary of Angelhead Limited which in turn is wholly-owned by Mr Peter Kwong Ching Woo.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Nassim Developments Pte. Ltd.'s (Nassim) deemed interest via Hotel Properties Limited (HPL) arises as follows:
1. Cuscaden Peak Pte. Ltd.'s (Cuscaden) deemed interest of 61.51% in the Paragon REIT Units (Units) through:
(i) Paragon REIT Management Pte. Ltd. (REIT Manager) owns 5.22% of the Units;
(ii) Times Properties Pte Ltd (TPPL) owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd (CP2PL) owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited.
The REIT Manager, TPPL and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden

2) Tiga Stars Pte. Ltd. (Tiga) has an interest of more than 20% in Cuscaden.
3) Hotel Properties Limited (HPL) is the majority shareholder of Tiga
4) Nassim Developments Pte. Ltd. (Nassim) has an interest of 22.34% in HPL

Nassim is therefore deemed to have an interest in the Units that HPL has a deemed interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore.

As of 24 January 2025, Tiga ceased to hold any shareholdings in Cuscaden and no longer owns any interest in Cuscaden.

Nassim Developments Pte. Ltd. is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. which in turn is a wholly-owned subsidiary of City Fairy Limited (CFL). CFL is a wholly-owned subsidiary of Angelhead Limited which in turn is wholly-owned by Mr Peter Kwong Ching Woo.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Mr Peter Kwong Ching Woo's (Mr Woo) deemed interest via Hotel Properties Limited (HPL) arises as follows:
1. Cuscaden Peak Pte. Ltd.'s (Cuscaden) deemed interest of 61.51% in the Paragon REIT Units (Units) through:
(i) Paragon REIT Management Pte. Ltd. (REIT Manager) owns 5.22% of the Units;
(ii) Times Properties Pte Ltd (TPPL) owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd (CP2PL) owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited.
The REIT Manager, TPPL and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden

2) Tiga Stars Pte. Ltd. (Tiga) has an interest of more than 20% in Cuscaden.
3) Hotel Properties Limited (HPL) is the majority shareholder of Tiga
4) Nassim Developments Pte. Ltd. (Nassim) has an interest of 22.34% in HPL
5) Nassim is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. (WII)
6) WII is a wholly-owned subsidiary of City Fairy Limited (CFL)
7) CFL is a wholly-owned subsidiary of Angelhead Limited.
8) Angelhead is wholly-owned by Mr Woo.

Mr Woo is therefore deemed to have an interest in the Units that HPL has a deemed interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore.

As of 24 January 2025, Tiga ceased to hold any shareholdings in Cuscaden and no longer owns any interest in Cuscaden.

Nassim Developments Pte. Ltd. is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. which in turn is a wholly-owned subsidiary of City Fairy Limited (CFL). CFL is a wholly-owned subsidiary of Angelhead Limited which in turn is wholly-owned by Mr Peter Kwong Ching Woo.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

WI Investments (Singapore) Pte. Ltd's (WII) deemed interest via Hotel Properties Limited (HPL) arises as follows:
1. Cuscaden Peak Pte. Ltd.'s (Cuscaden) deemed interest of 61.51% in the Paragon REIT Units (Units) through:
(i) Paragon REIT Management Pte. Ltd. (REIT Manager) owns 5.22% of the Units;
(ii) Times Properties Pte Ltd (TPPL) owns 16.30% of the Units;
(iii) Cuscaden Peak Two Pte. Ltd (CP2PL) owns 14.19% of the Units; and
(iv) 25.79% of the Units held through DBS Nominees (Private) Limited.
The REIT Manager, TPPL and CP2PL are direct and indirect wholly-owned subsidiaries of Cuscaden

2) Tiga Stars Pte. Ltd. (Tiga) has an interest of more than 20% in Cuscaden
3) Hotel Properties Limited (HPL) is the majority shareholder of Tiga
4) Nassim Developments Pte. Ltd. (Nassim) has an interest of 22.34% in HPL
5) Nassim is a wholly-owned subsidiary of WII

WII is therefore deemed to have an interest in the Units that HPL has a deemed interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore.

As of 24 January 2025, Tiga ceased to hold any shareholdings in Cuscaden and no longer owns any interest in Cuscaden.

Nassim Developments Pte. Ltd. is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. which in turn is a wholly-owned subsidiary of City Fairy Limited (CFL). CFL is a wholly-owned subsidiary of Angelhead Limited which in turn is wholly-owned by Mr Peter Kwong Ching Woo.

The percentage shareholdings above are computed based on 2,839,010,006 Units, being the total number of issued Units as of 30 June 2024. Any discrepancies in the percentages listed and totals thereof are due to rounding. All total figures are automatically inserted electronically

Remarks
City Fairy Limited is a wholly-owned subsidiary of Angelhead Limited (Angelhead), which in turn is wholly-owned by Mr Peter Kwong Ching Woo (Mr Woo). In accordance with Section 4 of the Securities and Future Act 2001 of Singapore, Angelhead and Mr Woo are deemed to be interested in the 1,746,210,855 units that Hotel Properties Limited has a deemed interest.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 1746210855 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 61.51000000 (Deemed Interest)

Angelhead Limited's (Anglehead) deemed interest via Hotel Properties Limited (HPL) arises as follows:
1) Cuscaden Peak Pte. Ltd. (Cuscaden) is deemed to be interested in 732,297,185 units held through DBS Nominees (Private) Limited, 611,031,424 units held by Cuscaden Peak Investments Private Limited (CPI) and 402,882,246 units held by Cuscaden Peak Two Pte. Ltd. (Cuscaden Two).
2) CPI is a wholly-owned subsidiary of Cuscaden and is deemed to be interested in the 462,747,825 units held by Times Properties Private Limited (TPPL) and the 148,283,599 units held by Paragon Reit Management Pte Ltd. Paragon Reit Management Pte Ltd is a subsidiary of TPPL. Cuscaden Two is a wholly-owned subsidiary of Cuscaden.
3) Tiga Stars Pte. Ltd. (Tiga) has an interest of more than 20% in Cuscaden.
4) Hotel Properties Limited (HPL) is the majority shareholder of Tiga.
5) Nassim Developments Pte. Ltd. (Nassim) has an interest of 22.4% in HPL
6) Nassim is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. (WII)
7) WII is a wholly-owned subsidiary of City Fairy Limited (CFL)
8) CFL is a wholly-owned subsidiary of Angelhead Limited.

Angelhead Limited is therefore deemed to have an interest in the 1,746,210,855 units that HPL has a deemed interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore.

Angelhead Limited is wholly-owned by Mr Peter Kwong Ching Woo.

Shareholding percentage is computed based on the total number of 2,839,010,006 units as at 1 March 2024.

Remarks
City Fairy Limited is a wholly-owned subsidiary of Angelhead Limited (Angelhead), which in turn is wholly-owned by Mr Peter Kwong Ching Woo (Mr Woo). In accordance with Section 4 of the Securities and Future Act 2001 of Singapore, Angelhead and Mr Woo are deemed to be interested in the 1,746,210,855 units that Hotel Properties Limited has a deemed interest.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 1746210855 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 61.51000000 (Deemed Interest)

Mr Peter Kwong Ching Woo's (Mr Woo) deemed interest via Hotel Properties Limited (HPL) arises as follows:
1) Cuscaden Peak Pte. Ltd. (Cuscaden) is deemed to be interested in 732,297,185 units held through DBS Nominees (Private) Limited, 611,031,424 units held by Cuscaden Peak Investments Private Limited (CPI) and 402,882,246 units held by Cuscaden Peak Two Pte. Ltd. (Cuscaden Two).
2) CPI is a wholly-owned subsidiary of Cuscaden and is deemed to be interested in the 462,747,825 units held by Times Properties Private Limited (TPPL) and the 148,283,599 units held by Paragon Reit Management Pte Ltd. Paragon Reit Management Pte Ltd is a subsidiary of TPPL. Cuscaden Two is a wholly-owned subsidiary of Cuscaden
3) Tiga Stars Pte. Ltd. (Tiga) has an interest of more than 20% in Cuscaden.
4) Hotel Properties Limited (HPL) is the majority shareholder of Tiga
5) Nassim Developments Pte. Ltd. (Nassim) has an interest of 22.4% in HPL
6) Nassim is a wholly-owned subsidiary of WI Investments (Singapore) Pte. Ltd. (WII)
7) WII is a wholly-owned subsidiary of City Fairy Limited (CFL)
8) CFL is a wholly-owned subsidiary of Angelhead Limited (Angelhead)
9) Angelhead is wholly-owned by Mr Woo.

Mr Woo is therefore deemed to have an interest in the 1,746,210,855 units that HPL has a deemed interest in pursuant to Section 4 of the Securities and Futures Act 2001 of Singapore.

Shareholding percentage is computed based on the total number of 2,839,010,006 units as at 1 March 2024.

Remarks
Wheelock and Company Limited (WAC) is the holding company of Wheelock Investments Limited (WIL). WIL ceased to be the holding company of City Fairy Limited (CFL). In accordance with Section 4 of the Securities and Futures Act 2001 of Singapore, WAC and WIL ceased to have a deemed interest in the 1,746,210,855 units which Hotel Properties Limited has a deemed interest.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Wheelock Investments Limited (WIL) ceased to be the holding company of City Fairy Limited (CFL). In accordance with Section 4 of the Securities and Futures Act 2001 of Singapore, WIL ceased to have a deemed interest in the 1,746,210,855 units that Hotel Properties Limited has a deemed interest.

Wheelock Investments Limited is a wholly-owned subsidiary of Wheelock and Company Limited.

Shareholding percentage is computed based on 2,839,010,006 units as at 1 March 2024.

Remarks
Wheelock and Company Limited (WAC) is the holding company of Wheelock Investments Limited (WIL). WIL ceased to be the holding company of City Fairy Limited (CFL). In accordance with Section 4 of the Securities and Futures Act 2001 of Singapore, WAC and WIL ceased to have a deemed interest in the 1,746,210,855 units which Hotel Properties Limited has a deemed interest.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Wheelock and Company Limited is the holding company of Wheelock Investments Limited (WIL). WIL ceased to be the holding company of City Fairy Limited (CFL). In accordance with Section 4 of the Securities and Futures Act 2001 of Singapore, WAC ceased to have a deemed interest in the 1,746,210,855 units that Hotel Properties Limited has a deemed interest.

Wheelock Investments Limited is a wholly-owned subsidiary of Wheelock and Company Limited.

Percentage of total number of units is computed based on 2,839,010,006 units as at 1 March 2024.

Remarks
Transferred a total of 291,150 units in PARAGON REIT held by PARAGON REIT Management Pte. Ltd. (the "Company") for the purpose of the Performance Unit Award to the staff of the Company and Straits Retail Property Management Services Pte. Ltd. (the "Property Manager").

Immediately after the transaction

No. of ordinary voting shares/units held: 148283599 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 5.22300000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of units "Immediately before the transaction" and "Immediately after the transaction" is based on 2,839,010,006 units as at 1 March 2024.

IMPORTANT NOTICE: This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for Units.

The value of Units and the income derived from them, if any, may fall or 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 should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on Singapore Exchange Securities Trading Limited (the "SGX-ST"). It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. The listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

Remarks
Vesting of share awards

Amount of consideration paid or received by Director/CEO (excluding brokerage and stamp duties): S$147,003.14

Immediately after the transaction

No. of ordinary voting shares/units held: 962956 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.03300000 (Direct Interest); 0.00000000 (Deemed Interest)