The Board of Directors of Pavilion REIT Management Sdn Bhd, the manager of Pavilion Real Estate Investment Trust (“Pavilion REIT”), wishes to announce that Pavilion REIT had undertaken a revaluation exercise during the financial year ended 31 December 2019.

The revaluation exercise has resulted in a revaluation surplus of RM15.0 million, which shall be incorporated into the financial results for the year ended 31 December 2019. The details of the revaluation are as enclosed.

This announcement is dated 23 January 2020.