On behalf of the Board of Directors of Hektar Asset Management Sdn Bhd ("Board"), being the management company of Hektar REIT ("Manager"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that Hektar REIT proposes to undertake a private placement of up to 20% of the total number of issued units of Hektar REIT to third party investor(s) to be identified later at an issue price to be determined later ("Proposed Private Placement").

Further details of the Proposed Private Placement are set out in the attachment enclosed.

This announcement is dated 24 March 2025.