Notice Of Valuation Of Real Assets :: Announcement On Asset Valuation

EC WORLD REAL ESTATE INVESTMENT TRUST

(a real estate investment trust constituted on 5 August 2015 under the laws of the Republic of Singapore)

ANNOUNCEMENT ON ASSET VALUATION

Pursuant to Rule 703 of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "Listing Manual"), EC World Asset Management Pte. Ltd., as manager of EC World Real Estate Investment Trust ("EC World REIT") (the "Manager"), wishes to announce that it has obtained independent valuations, as of 31 December 2020, for all the eight properties owned by EC World REIT (the "Properties").

The Financial Year 2020 market valuations which were conducted by Savills Real Estate Valuation (Guangzhou) Ltd - Shanghai Branch ("Savills") are set out in the table below.

	Market Valuation	Market Valuation
Properties	(RMB' mil)	(SGD' mil)
	As at 31 Dec 2020	As at 31 Dec 20201
Chongxian Port Investment	2,265	458
Chongxian Port Logistics	864	175
Fu Zhuo Industrial	117	24
Hengde Logistics	1,426	289
Fuzhou E-Commerce	1,290	261
Fu Heng Warehouse	609	123
Bei Gang Logistics Phase 1	1,271	257
Wuhan Meiluote	180	37
Total Portfolio	8,022	1,624

Note:

1. Based on valuation by Savills as at 31 December 2020 and converted to SGD using the closing exchange rate of 0.2024 SGD/RMB as at 31 December 2020. The figures were rounded up to nearest million.

The valuation reports for the Properties are available for inspection at the Manager's registered office, during normal business hours for a period of three months from the date of this announcement. Prior appointment with the Manager would be appreciated.

EC World Asset Management Pte Ltd	9 Raffles Place
运通网城资产管理私人有限公司	#45-02 Republic Plaza
(Reg. No. 201523015N)	Singapore 048619
	Tel: [phone]

By Order of the Board

Goh Toh Sim

Executive Director and Chief Executive Officer

EC World Asset Management Pte. Ltd.

(Company Registration No. 201523015N)

As manager of EC World Real Estate Investment Trust

18 January 2021

IMPORTANT NOTICE

The value of the Units and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by the Manager, DBS Trustee Limited (as trustee of EC World REIT), or any of their respective affiliates.

An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Unitholders have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. 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. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of EC World REIT. The forecast financial performance of EC World REIT is not guaranteed. A potential investor is cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.

EC World Asset Management Pte Ltd	9 Raffles Place
运通网城资产管理私人有限公司	#45-02 Republic Plaza
(Reg. No. 201523015N)	Singapore 048619
	Tel: [phone]