Mapletree Commercial Trust : Proposed Merger by way of a Trust Scheme of Arrangement (Dealings Disclosure)

To: An Authorised Person

For and on behalf of Mapletree Commercial Trust Management Ltd.

From: BlackRock, Inc.1

Relationship to MCT: Associate of MCT

Date: 28th January 2022

	1. Disclosure of Dealings in MCT units ("MCT Units") during the Trust Scheme Period
	Date of	Nature of Dealing	Number of MCT	Number of MCT	Price	Holdings in	Name of Registered Holder
	Purchase/Sale				Units	Units	Transacted	MCT Units	or Identity of Principal or
					Bought/Increased	Sold/Decreased	per MCT Unit	following the	Associate or other Person
								Transaction	Dealing
	27-Jan-22	Market purchase	BUY	3,200		1.85 SGD	164,254,175	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	116,300		1.85 SGD	164,370,475	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	5,600		1.85 SGD	164,376,075	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	3,900		1.85 SGD	164,379,975	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	6,500		1.85 SGD	164,386,475	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	16,400		1.85 SGD	164,402,875	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	7,800		1.8571 SGD	164,410,675	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	15,600		1.85 SGD	164,426,275	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	28,900		1.8571 SGD	164,455,175	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	15,600		1.85 SGD	164,470,775	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	124,900		1.8571 SGD	164,595,675	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	122,500		1.8573 SGD	164,718,175	BlackRock, Inc.
	27-Jan-22	Market purchase	BUY	28,100		1.8537 SGD	164,746,275	BlackRock, Inc.
	27-Jan-22	Market purchase	In-specie	284,500		N/A	165,030,775	BlackRock, Inc.
				Transfer
1	Dealings on behalf of investment clients have been made on a discretionary (not non-discretionary) basis.

BlackRock, Inc. owns or controls 165,030,775 MCT Units after the dealings reported above, representing approximately 4.97% of the total number of issued MCT Units2.

2. Disclosure of Dealings in MNACT units ("MNACT Units") during the Trust Scheme Period

Date of	Nature of Dealing	Number of MNACT	Number of	Price	Holdings in	Name of Registered Holder
Purchase/Sale			Units	MNACT Units	Transacted	MNACT Units	or Identity of Principal or
			Bought/Increased	Sold/Decreased	per MNACT	following the	Associate or other Person
					Unit	Transaction	Dealing
27-Jan-22	Market	In-specie	37,500		N/A	62,481,095	BlackRock, Inc.
	purchase	Transfer
27-Jan-22	N/A - Stock	Loan Return	442,122		N/A	62,923,217	BlackRock, Inc.
	Loan

BlackRock, Inc. owns or controls 62,923,217 MNACT Units after the dealings reported above, representing approximately 1.78% of the total number of issued MNACT Units3.

3. Disclosure of Dealings in Convertible Securities, Warrants, Options and Derivatives in respect of MCT Units ("Relevant MCT Securities") during the Trust Scheme Period

2

3

Based on 3,322,353,562 MCT Units outstanding as at the date hereof. Based on 3,527,974,156 MNACT Units outstanding as at the date hereof.

			Number(2) of	Exercise		Holdings and Resultant	Name of Registered
			Date /		Holder or Identity of
Date of	Nature of Transaction (Buy /	Price per MCT	Percentage (%) in MCT
Reference	Maturity Date	Principal or
Transaction(1)	Sell / Settlement)	Unit(4)	Units following
MCT Units	/ Closing-Out	Associate or other
				Transaction
				Date(3)		Person Dealing
27-Jan-22		BUY	59,700	N/A	1.8528 SGD		BlackRock, Inc.
						See Question 1 above - this
27-Jan-22	Contract for	BUY	2,000	N/A	1.8525 SGD	Transaction does not result in a	BlackRock, Inc.
difference (cash-	change in holdings in MCT
	settled only)					Units, on the basis that the
						Transaction is cash-settled
27-Jan-22		BUY	116,300	N/A	1.8513 SGD	BlackRock, Inc.

1. In respect of derivatives, this would be the date of entering into or closing out of the derivative.
2. In respect of derivatives, this would be the number of reference securities to which they relate.
3. In respect of derivatives, this would be the maturity date of such derivatives.
4. In respect of derivatives, this would be the reference price of such derivatives.

Other arrangements in relation to MCT Units or Relevant MCT Securities (if applicable): N/A

4. Disclosure of Dealings in Convertible Securities, Warrants, Options and Derivatives in respect of MNACT Units ("Relevant MNACT Securities") during the Trust Scheme Period

		Number(2)	Exercise			Name of Registered
Date of	Nature of Transaction (Buy / Sell	of	Date /	Price per	Holdings and Resultant	Holder or Identity of
Reference	Maturity Date	MNACT	Percentage (%) in MNACT	Principal or Associate
Transaction(1)	/ Settlement)
MNACT	/ Closing-Out	Unit(4)	Units following Transaction	or other Person
		Units	Date(3)			Dealing

1. In respect of derivatives, this would be the date of entering into or closing out of the derivative.
2. In respect of derivatives, this would be the number of reference securities to which they relate.
3. In respect of derivatives, this would be the maturity date of such derivatives.
4. In respect of derivatives, this would be the reference price of such derivatives.

Other arrangements in relation to MNACT Units or Relevant MNACT Securities (if applicable): N/A

The information relating to us/me or my close relatives (if applicable) is provided to the best of our/my knowledge, on a "best efforts" basis. I/We confirm that I/we agree to the MCT Manager disclosing the information provided herein to the Securities Industry Council and other regulatory authorities as may be required or necessary, such other persons as the MCT Manager may in its absolute discretion deem necessary or appropriate and in any public document which may be required by any regulatory authority or by any law or regulation (including, without limitation, the Singapore Code on Take-overs and Mergers).

I/We will promptly notify the MCT Manager should any of the said information prove to be untrue or incorrect in any respect between the date of this disclosure and the latest practicable date prior to the printing of the Scheme Document. In the absence of such notification, the parties involved in the preparation of the Scheme Document are entitled to assume that the information hereby furnished is true, accurate and complete and remains unchanged.

Yours faithfully

_______________________________

Name: Anh Do on behalf of BlackRock, Inc.