Based on data extracted from Bloomberg as at 28 June 2019.
 Based on an issue price of S$1.30 for each Ascott Reit-BT Stapled Unit and calculated based on a total of 1,136.7 million A-HTRUST Stapled Units.
 Based on A-HTRUST’s audited NAV per Stapled Unit as at 31 March 2019 of S$1.02 divided by Ascott Reit’s audited NAV per Unit as at 31 December 2018 of S$1.22.
 FTSE EPRA Nareit Developed Index tracks the performance of listed real estate companies and REITs worldwide.
 Based on a free float of approximately 1,846.6 million Ascott Reit-BT Stapled Units at S$1.30 for each Ascott Reit-BT Stapled Unit.
 Earnings before interest, tax, depreciation and amortisation.
 “An emerging middle class”, (2012), OECD Observer.
 “Global Tourism Economy Research Centre” (2019), World Tourism Organization.
 Assuming write-off of premium over NAV and excluding transaction costs.