Unless otherwise stated, the terms used herein shall have the same meaning as defined in Atrium REIT’s circular to unitholders dated 17 May 2019 (“Circular”) in relation to Proposed Acquisition 1.

We refer to our announcement dated 17 October 2019 in relation to the exercise of the Call Option.

In relation thereto, the Board wishes to inform that the Trustee has on 11 November 2019 entered into SPA 1 with Lumileds to acquire Property 1 for a cash consideration of RM50.0 million (“Purchase Consideration 1”). Upon execution of SPA 1, the Trustee has paid the balance deposit representing 8% of Purchase Consideration 1 amounting to RM4.0 million to Lumileds. The balance purchase price (representing 90% of Purchase Consideration 1) of RM45.0 million shall be payable within 2 months from the date of SPA 1 becomes unconditional.

Concurrently with the execution of SPA 1, the Trustee and Lumileds will also enter and sign in escrow the Leaseback Agreement 1. The Leaseback Agreement 1 will commence upon the completion date of SPA 1 for a term of 15 years on a triple net basis. The rental sum will be subject to yearly increase of 3% during the term of the leaseback.

The salient terms and conditions of the SPA 1 and Leaseback Agreement 1 remain the same as disclosed in the Circular.

This announcement is dated 11 November 2019.