On behalf of the board of directors of Pavilion REIT Management Sdn Bhd, the management company of Pavilion REIT, CIMB Investment Bank Berhad and Maybank Investment Bank Berhad wish to announce that MTrustee Berhad, acting as the trustee for and on behalf of Pavilion REIT, had on 22 November 2022 entered into a conditional sale and purchase agreement with Regal Path Sdn Bhd for the acquisition of Pavilion Bukit Jalil together with the related assets and rights for an aggregate purchase consideration of RM2,200 million (“Proposed Acquisition”).

In conjunction with the Proposed Acquisition, the Board also proposes to undertake proposed placements of new units in Pavilion REIT to raise gross proceeds of up to RM1,270 million at an issue price to be determined later by way of bookbuilding exercise (“Proposed Placements”) to partly fund the Proposed Acquisition.

Please refer to the attachment for further details on the Proposals.

This announcement is dated 22 November 2022.