PRIVATE PLACEMENT OF UP TO 23,098,000 NEW UNITS IN HEKTAR REIT, REPRESENTING UP TO 5% OF ITS TOTAL ISSUED UNITS ("PRIVATE PLACEMENT")

Unless otherwise stated, abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the announcement dated 15 November 2021 in relation to the Private Placement ("Announcement").

We refer to the announcements dated 15 November 2021, 23 November 2021, 26 November 2021, 13 December 2021, 23 December 2021, 28 December 2021, 11 May 2022 and 17 May 2022 in relation to the Private Placement.

On behalf of the Board, KAF IB wishes to announce that the Private Placement is deemed completed upon the expiry of the Private Placement on 23 November 2022.

This announcement is dated 23 November 2022.