Investor RelationsHistorical Price

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Assurances Mutuelles de France ("AM") has merged into La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles ("GMF") under the French law such that AM will cease to exist (the "AM-GMF Merger"). As a result of the AM-GMF Merger, GMF's indirect qualifying shareholding in Covea Cooperations, and consequently PartnerRe Limited and its subsidiaries, will increase from 18.798% to 33.33%, and AM will dispose of a 14.535% in Covea Cooperations, and consequently PartnerRe Limited and its subsidiaries.

Following the AM-GMF Merger, GMF will change its corporate name to "AM-GMF". The "AM-GMF Merger" has been authorized by ACPR (French regulator) to effect this change on 2 November 2022.

For the avoidance of doubt, GMF continues to hold a deemed interest of 109,074,215 units in Elite Commercial REIT through PartnerRe Limited.

The percentage of interest in Units is calculated based on 481,128,443 Units.

Remarks
Acquisition of Securities via market transaction

Immediately after the transaction

No. of ordinary voting shares/units held: 22595 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00500000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings before and after the change are calculated based on 481,128,443 outstanding Units.

Remarks
Acquisition of Securities via market transaction

Immediately after the transaction

No. of ordinary voting shares/units held: 12595 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00300000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings before and after the change are calculated based on 481,128,443 outstanding Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 109074215 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 22.77500000 (Deemed Interest)

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
Assurances Mutuelles de France is therefore deemed interested in the Units held by PR's subsidiaries.

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the following entities:
(i) MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(ii) MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
MMA IARD Assurances Mutuelles and MMA Vie Assurances Mutuelles, collectively forms the "MMA Cluster".
(iii) La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
(iv) Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles and Assurances Mutuelles de France, collectively forms the "AM-GMF Cluster".
(v) MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(vi) MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante and MAAF Assurances, collectively forms the "MAAF Cluster".
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 109074215 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 22.77500000 (Deemed Interest)

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the MMA Cluster, the AM-GMF Cluster, and the MAAF Cluster.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
Covea is therefore deemed interested in the Units held by PR's subsidiaries.

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the following entities:
(i) MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(ii) MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
MMA IARD Assurances Mutuelles and MMA Vie Assurances Mutuelles, collectively forms the "MMA Cluster".
(iii) La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
(iv) Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles and Assurances Mutuelles de France, collectively forms the "AM-GMF Cluster".
(v) MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(vi) MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante and MAAF Assurances, collectively forms the "MAAF Cluster".
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 109074215 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 22.77500000 (Deemed Interest)

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
Covea Cooperations S.A. is therefore deemed interested in the Units held by PR's subsidiaries.

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the following entities:
(i) MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(ii) MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
MMA IARD Assurances Mutuelles and MMA Vie Assurances Mutuelles, collectively forms the "MMA Cluster".
(iii) La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
(iv) Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles and Assurances Mutuelles de France, collectively forms the "AM-GMF Cluster".
(v) MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(vi) MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante and MAAF Assurances, collectively forms the "MAAF Cluster".
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

EXOR N.V. owns 100% of EXOR Nederland N.V.
EXOR Nederland N.V. owned 99.73% of PartnerRe Limited ("PR").
EXOR N.V. was therefore deemed interested in the Units held by PR's subsidiaries .
On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.

Giovanni Agnelli B.V. owns 52.99% of the voting rights in EXOR N.V.
EXOR N.V. owns 100% of EXOR Nederland N.V.
EXOR Nederland N.V. owned 99.73% PartnerRe Limited ("PR").
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.
On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Ltd. from Exor Nederland N.V.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

EXOR Nederland N.V. owned 99.73% PartnerRe Limited ("PR").
EXOR Nederland N.V. was therefore deemed interested in the Units held by PR's subsidiaries.
On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.

Giovanni Agnelli B.V. owns 52.99% of the voting rights in EXOR N.V.
EXOR N.V. owns 100% of EXOR Nederland N.V.
EXOR Nederland N.V. owned 99.73% PartnerRe Limited ("PR").
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.
On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Giovanni Agnelli B.V. owns 52.99% of the voting rights in EXOR N.V.
EXOR N.V. owns 100% of EXOR Nederland N.V.
EXOR Nederland N.V. owned 99.73% of PartnerRe Limited ("PR").
Giovanni Agnelli B.V. was therefore deemed interested in the Units held by PR's subsidiaries.
On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.

Giovanni Agnelli B.V. owns 52.99% of the voting rights in EXOR N.V.
EXOR N.V. owns 100% of EXOR Nederland N.V.
EXOR Nederland N.V. owned 99.73% PartnerRe Limited ("PR").
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.
On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 109074215 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 22.77500000 (Deemed Interest)

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles is therefore deemed interested in the Units held by PR's subsidiaries.

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the following entities:
(i) MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(ii) MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
MMA IARD Assurances Mutuelles and MMA Vie Assurances Mutuelles, collectively forms the "MMA Cluster".
(iii) La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
(iv) Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles and Assurances Mutuelles de France, collectively forms the "AM-GMF Cluster".
(v) MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(vi) MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante and MAAF Assurances, collectively forms the "MAAF Cluster".
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Full name of the entity is "La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles".

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 109074215 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 22.77500000 (Deemed Interest)

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Assurances is therefore deemed interested in the Units held by PR's subsidiaries.

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the following entities:
(i) MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(ii) MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
MMA IARD Assurances Mutuelles and MMA Vie Assurances Mutuelles, collectively forms the "MMA Cluster".
(iii) La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
(iv) Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles and Assurances Mutuelles de France, collectively forms the "AM-GMF Cluster".
(v) MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(vi) MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante and MAAF Assurances, collectively forms the "MAAF Cluster".
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 109074215 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 22.77500000 (Deemed Interest)

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante is therefore deemed interested in the Units held by PR's subsidiaries.

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the following entities:
(i) MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(ii) MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
MMA IARD Assurances Mutuelles and MMA Vie Assurances Mutuelles, collectively forms the "MMA Cluster".
(iii) La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
(iv) Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles and Assurances Mutuelles de France, collectively forms the "AM-GMF Cluster".
(v) MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(vi) MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante and MAAF Assurances, collectively forms the "MAAF Cluster".
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 109074215 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 22.77500000 (Deemed Interest)

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MMA IARD Assurances Mutuelles is therefore deemed interested in the Units held by PR's subsidiaries.

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the following entities:
(i) MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(ii) MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
MMA IARD Assurances Mutuelles and MMA Vie Assurances Mutuelles, collectively forms the "MMA Cluster".
(iii) La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
(iv) Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles and Assurances Mutuelles de France, collectively forms the "AM-GMF Cluster".
(v) MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(vi) MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante and MAAF Assurances, collectively forms the "MAAF Cluster".
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 109074215 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 22.77500000 (Deemed Interest)

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MMA Vie Assurances Mutuelles is therefore deemed interested in the Units held by PR's subsidiaries.

On 12 July 2022, Covea Cooperations S.A. has completed the acquisition of PartnerRe Limited from Exor Nederland N.V.
Covea is the ultimate holding company of Covea Cooperations S.A. through the following entities:
(i) MMA IARD Assurances Mutuelles holds 21.528% of the voting rights of Covea Cooperations and, together with MMA Vie Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(ii) MMA Vie Assurances Mutuelles holds 11.805% of the voting rights of Covea Cooperations and, together with MMA IARD Assurances Mutuelles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
MMA IARD Assurances Mutuelles and MMA Vie Assurances Mutuelles, collectively forms the "MMA Cluster".
(iii) La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles holds 18.798% of the voting rights of Covea Cooperations and, together with Assurances Mutuelles de France, holds 33.3% of the voting rights of Covea Cooperations.
(iv) Assurances Mutuelles de France holds 14.535% of the voting rights of Covea Cooperations and, together with La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
La Garantie Mutuelle des Fonctionnaires et Employes de l'Etat et des Services Publics et Assimiles and Assurances Mutuelles de France, collectively forms the "AM-GMF Cluster".
(v) MAAF Sante holds 0.173% of the voting rights of Covea Cooperations and, together with MAAF Assurances (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
(vi) MAAF Assurances holds 33.161% of the voting rights of Covea Cooperations and, together with MAAF Sante (with which it acts in concert), holds 33.3% of the voting rights of Covea Cooperations.
Covea Cooperations S.A. owns 100% PartnerRe Limited ("PR").
MAAF Sante and MAAF Assurances, collectively forms the "MAAF Cluster".
Partner Reinsurance Company Ltd ("PRCL"), Partner Reinsurance Asia Pte. Ltd. ("PRA"), and PartnerRe Holdings Europe Limited ("PRHE") are wholly owned by PR.
Partner Reinsurance Europe SE ("PRESE") is wholly owned by PartnerRe Holdings SA ("PRH"). PRH is wholly owned by PRHE.

The percentage of interest in Units is calculated based on 478,923,368 Units.

Remarks
Type of securities which are subject of the transaction 2,205,075 new units in Elite Commercial REIT ("Units") has been issued at an issue price of GBP 0.5936 per new Unit on 22 September 2022 pursuant to Elite Commercial REIT's Distribution Reinvestment Plan in respect of the distribution of GBP 2.56 pence per Unit for the period from 1 January 2022 to 30 June 2022. 2,205,075 new units in Elite Commercial REIT ("Units") has been issued at an issue price of GBP 0.5936 per new Unit on 22 September 2022 pursuant to Elite Commercial REIT's Distribution Reinvestment Plan in respect of the distribution of GBP 2.56 pence per Unit for the period from 1 January 2022 to 30 June 2022. Immediately after the transaction

No. of ordinary voting shares/units held: 38397744 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 7.98100000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings set out above before and after the change are calculated based on 478,923,368 and 481,128,443 outstanding Units respectively.

Remarks
231 Units in Elite Commercial REIT ("ECR") have been issued to Mr. Chinoy Yezdi Phiroze ("Yezdi") arising from his election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 2.56 pence per Unit in ECR for the period from 1 January 2022 to 30 June 2022.

Immediately after the transaction

No. of ordinary voting shares/units held: 5595 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00100000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings before and after the change are calculated based on 478,923,368 and 481,128,443 outstanding Units respectively.

Remarks
21,563 Units in Elite Commercial REIT ("ECR") have been issued to Mr. Lim Teck Leong David arising from his election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 2.56 pence per Unit in ECR for the period from 1 January 2022 to 30 June 2022.

Immediately after the transaction

No. of ordinary voting shares/units held: 521563 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.10800000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings before and after the change are calculated based on 478,923,368 and 481,128,443 outstanding Units respectively.

Remarks
212,186 Units in Elite Commercial REIT ("ECR") have been issued to Elite Partners Holdings Pte. Ltd. ("EPH") arising from its election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 2.56 pence per Unit in ECR for the period from 1 January 2022 to 30 June 2022.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 8287798 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 1.72300000 (Deemed Interest)

Mr. Victor Song Chern Chean ("Victor") holds 22.5% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 5,132,271 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 3,155,527 Units in Elite Commercial REIT. Therefore, Victor is deemed to be interested in 8,287,798 Units held by EPH and the Manager.

The percentage of unitholdings before and after the change are calculated based on 478,923,368 and 481,128,443 outstanding Units respectively.

Remarks
212,186 Units in Elite Commercial REIT ("ECR") have been issued to Elite Partners Holdings Pte. Ltd. ("EPH") arising from its election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 2.56 pence per Unit in ECR for the period from 1 January 2022 to 30 June 2022.

Immediately after the transaction

No. of ordinary voting shares/units held: 151039 (Direct Interest); 45359083 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.03100000 (Direct Interest); 9.42800000 (Deemed Interest)

Mr. Tan Hai Peng Micheal ("Micheal") holds 46.625% of the share capital of Teck Lee Holdings Pte. Ltd. ("TLH"). TLH holds 81.25% of the share capital of Ho Lee Group Pte. Ltd. ("HLG"). HLG holds 50% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 5,132,271 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which hold 3,155,527 Units in Elite Commercial REIT. Therefore, Micheal is deemed to be interested in 8,287,798 Units held by EPH and the Manager.

Ho Lee Group Trust ("HLGT") holds 36,844,684 Units. Micheal is a beneficiary of HLGT, and therefore is deemed to be interested in the 36,844,684 Units held by HLGT.

Micheal is also deemed interested in the 226,601 Units held by his wife, Kan Phui Lin.

The percentage of unitholdings before and after the change are calculated based on 478,923,368 and 481,128,443 outstanding Units respectively.

Remarks
The Manager has declared a dividend in specie to Elite Partners Holdings Pte. Ltd. ("EPH"), Jin Leng Investments Pte. Ltd. ("JLI"), and Sunway RE Capital Pte. Ltd. ("SRC") (collectively the "Shareholders"), in the form of 5,389,915 Units (the "Dividend in Units"). JLI received 916,286 units out of the 5,389,915 Repayment Units.

Immediately after the transaction

No. of ordinary voting shares/units held: 35526 (Direct Interest); 916286 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.01000000 (Direct Interest); 0.19000000 (Deemed Interest)

Mr. Tan Dah Ching holds 50% of the share capital of Jin Leng Investments Pte. Ltd. ("JLI"), which holds 916,286 Units in Elite Commercial REIT. Therefore, Mr. Tan Dah Ching is deemed to be interested in 916,286 Units held by JLI.

The percentage of unitholdings before and after the change are calculated based on 478,923,368 outstanding Units.

Remarks
The Manager has declared a dividend in specie to Elite Partners Holdings Pte. Ltd. ("EPH"), Jin Leng Investments Pte. Ltd. ("JLI"), and Sunway RE Capital Pte. Ltd. ("SRC") (collectively the "Shareholders"), in the form of 5,389,915 Units (the "Dividend in Units"). EPH received 3,665,142 units out of the 5,389,915 Repayment Units.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 8075612 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 1.69000000 (Deemed Interest)

Mr. Victor Song Chern Chean ("Victor") holds 22.5% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 4,920,085 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 3,155,527 Units in Elite Commercial REIT. Therefore, Victor is deemed to be interested in 8,075,612 Units held by EPH and the Manager.

The percentage of unitholdings before and after the change are calculated based on 478,923,368 outstanding Units.

Remarks
The Manager has declared a dividend in specie to Elite Partners Holdings Pte. Ltd. ("EPH"), Jin Leng Investments Pte. Ltd. ("JLI"), and Sunway RE Capital Pte. Ltd. ("SRC") (collectively the "Shareholders"), in the form of 5,389,915 Units (the "Dividend in Units"). EPH received 3,665,142 units out of the 5,389,915 Repayment Units.

Immediately after the transaction

No. of ordinary voting shares/units held: 151039 (Direct Interest); 45146897 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.03000000 (Direct Interest); 9.43000000 (Deemed Interest)

Mr. Tan Hai Peng Micheal ("Micheal") holds 46.625% of the share capital of Teck Lee Holdings Pte. Ltd. ("TLH"). TLH holds 82.5% of the share capital of Ho Lee Group Pte. Ltd. ("HLG"). HLG holds 50% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 4,920,085 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 3,155,527 Units in Elite Commercial REIT. Therefore, Micheal is deemed to be interested in 8,075,612 Units held by EPH and the Manager.

Ho Lee Group Trust ("HLGT") holds 36,844,684 Units. Micheal is a beneficiary of HLGT, and therefore is deemed to be interested in the 36,844,684 Units held by HLGT.

Micheal is also deemed interested in the 226,601 Units held by his wife, Kan Phui Lin.

The percentage of unitholdings before and after the change are calculated based on 478,923,368 outstanding Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 3155527 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.66000000 (Direct Interest); 0.00000000 (Deemed Interest)

The Manager has declared a dividend in specie to Elite Partners Holdings Pte. Ltd. ("EPH"), Jin Leng Investments Pte. Ltd. ("JLI"), and Sunway RE Capital Pte. Ltd. ("SRC") (collectively the "Shareholders"), in the form of 5,389,915 Units (the "Dividend in Units").

The allocation of Dividend in Units to the Shareholders is set out as follows:
(i) EPH received 3,665,142 Dividend in Units;
(ii) JLI received 916,286 Dividend in Units; and
(iii) SRC received 808,487 Dividend in Units.

The percentage of unitholdings before and after the change are calculated based on 478,923,368 outstanding Units.

Remarks
1,473 Units in Elite Commercial REIT ("ECR") have been issued to Mr. Tan Dah Ching arising from his election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 2.80 pence per Unit in ECR for the period from 1 July 2021 to 31 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 35526 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.01000000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings before and after the change are calculated based on 476,506,248 and 478,923,368 outstanding Units respectively.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Prior to the transaction, HLGT held 35,882,406 Units. Ms. Loh Guik Kiang was a beneficiary of HLGT and was therefore, deemed to be interested in the 35,882,406 Units held by HLGT. Loh Guik Kiang had waived her beneficial interest in HLGT. After the transaction, Loh Guik Kiang is no longer deemed to be interested in the 35,882,406 Units held by HLGT.

Mr. Tan Thuan Teck (Deceased) and Ms. Loh Guik Kiang were beneficiaries of Ho Lee Group Trust.

The percentage of unitholding before and after the change is calculated based on 470,265,105 outstanding Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Prior to the transaction, HLGT held 35,882,406 Units. Tan Thuan Teck's estate was a beneficiary of HLGT and was therefore, deemed to be interested in the 35,882,406 Units held by HLGT. After the transaction, Tan Thuan Teck's estate is no longer deemed to be interested in the 35,882,406 Units held by HLGT.

Mr. Tan Thuan Teck (Deceased) and Ms. Loh Guik Kiang were beneficiaries of Ho Lee Group Trust.

The percentage of unitholding before and after the change is calculated based on 470,265,105 outstanding Units.

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 35882406 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 7.63000000 (Deemed Interest)

Prior to the transaction, Tan Thuan Teck's estate held 21.3% of the share capital of Teck Lee Holdings Pte. Ltd. ("TLH"). TLH holds 81.25% of the share capital of Ho Lee Group Pte. Ltd. ("HLG"). HLG holds 50% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 296,300 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 6,600,798 Units in Elite Commercial REIT. Therefore, Tan Thuan Teck's estate was deemed to be interested in 6,897,098 Units held by EPH and the Manager. After the transaction, Tan Thuan Teck's estate is no longer deemed to be interested in 6,897,098 Units held by EPH and the Manager.

HLGT holds 35,882,406 Units. Tan Thuan Teck's estate is a beneficiary of HLGT and is therefore, deemed to be interested in the 35,882,406 Units held by HLGT.

Mr. Tan Thuan Teck (Deceased) and Ms. Loh Guik Kiang were beneficiaries of Ho Lee Group Trust.

The percentage of unitholding before and after the change is calculated based on 470,265,105 outstanding Units.

Remarks
Type of securities which are subject of the transaction 2,417,120 new units in Elite Commercial REIT ("Units") has been issued at an issue price of GBP 0.6237 per new Unit on 31 March 2022 pursuant to Elite Commercial REIT's Distribution Reinvestment Plan in respect of the distribution of GBP 2.80 pence per Unit for the period from 1 July 2021 to 31 December 2021. 2,417,120 new units in Elite Commercial REIT ("Units") has been issued at an issue price of GBP 0.6237 per new Unit on 31 March 2022 pursuant to Elite Commercial REIT's Distribution Reinvestment Plan in respect of the distribution of GBP 2.80 pence per Unit for the period from 1 July 2021 to 31 December 2021. Immediately after the transaction

No. of ordinary voting shares/units held: 28676471 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 5.99000000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings set out above before and after the change are calculated based on 476,506,248 and 478,923,368 outstanding Units respectively.

Remarks
230 Units in Elite Commercial REIT ("ECR") have been issued to Mr. Chinoy Yezdi Phiroze ("Yezdi") arising from his election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 2.80 pence per Unit in ECR for the period from 1 July 2021 to 31 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 5364 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00100000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings before and after the change are calculated based on 476,506,248 and 478,923,368 outstanding Units respectively.

Remarks
134 Units in Elite Commercial REIT ("ECR") have been issued to Mr. Chinoy Yezdi Phiroze ("Yezdi") arising from his election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 1.73 pence per Unit in ECR for the period from 9 March 2021 to 30 June 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 5134 (Direct Interest); (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00100000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentage of unitholdings before and after the change are calculated based on 471,363,555 and 474,329,576 outstanding Units respectively.

Remarks
53,918 Units in Elite Commercial REIT ("ECR") have been issued to Elite Partners Holdings Pte. Ltd. ("EPH") arising from its election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 2.80 pence per Unit in ECR for the period from 1 July 2021 to 31 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 151039 (Direct Interest); 46871670 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.03000000 (Direct Interest); 9.79000000 (Deemed Interest)

Mr. Tan Hai Peng Micheal ("Micheal") holds 46.625% of the share capital of Teck Lee Holdings Pte. Ltd. ("TLH"). TLH holds 81.25% of the share capital of Ho Lee Group Pte. Ltd. ("HLG"). HLG holds 50% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 1,254,943 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which hold 8,545,442 Units in Elite Commercial REIT. Therefore, Micheal is deemed to be interested in 9,800,385 Units held by EPH and the Manager.

Ho Lee Group Trust ("HLGT") holds 36,844,684 Units. Micheal is a beneficiary of HLGT, and therefore is deemed to be interested in the 36,844,684 Units held by HLGT.

Micheal is also deemed interested in the 226,601 Units held by his wife, Kan Phui Lin.

The percentage of unitholdings before and after the change are calculated based on 476,506,248 and 478,923,368 outstanding Units respectively.

Remarks
53,918 Units in Elite Commercial REIT ("ECR") have been issued to Elite Partners Holdings Pte. Ltd. ("EPH") arising from its election to participate in the Distribution Reinvestment Plan to receive Units in lieu of cash in respect of the distribution of GBP 2.80 pence per Unit in ECR for the period from 1 July 2021 to 31 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 9800385 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 2.05000000 (Deemed Interest)

Mr. Victor Song Chern Chean ("Victor") holds 22.5% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 1,254,943 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 8,545,442 Units in Elite Commercial REIT. Therefore, Victor is deemed to be interested in 9,800,385 Units held by EPH and the Manager.

The percentage of unitholdings before and after the change are calculated based on 476,506,248 and 478,923,368 outstanding Units respectively.

Remarks
Elite Commercial REIT Management Pte. Ltd., as manager of Elite Commercial REIT, received 1,037,903 units at 0.6646 per unit as payment of 100.0% of the base fee component of its management fee and its lease management fee in respect of the initial IPO portfolio of 97 properties for the period from 1 October 2021 to 31 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 9746467 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 2.05000000 (Deemed Interest)

Mr. Victor Song Chern Chean ("Victor") holds 22.5% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 1,201,025 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 8,545,442 Units in Elite Commercial REIT. Therefore, Victor is deemed to be interested in 9,746,467 Units held by EPH and the Manager.

The percentage of unitholdings before and after the change are calculated based on 475,468,345 and 476,506,248 outstanding Units respectively.

Remarks
Elite Commercial REIT Management Pte. Ltd., as manager of Elite Commercial REIT, received 1,037,903 units at 0.6646 per unit as payment of 100.0% of the base fee component of its management fee and its lease management fee in respect of the initial IPO portfolio of 97 properties for the period from 1 October 2021 to 31 December 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 151039 (Direct Interest); 46817752 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.03000000 (Direct Interest); 9.83000000 (Deemed Interest)

Mr. Tan Hai Peng Micheal ("Micheal") holds 35.975% of the share capital of Teck Lee Holdings Pte. Ltd. ("TLH"). TLH holds 81.25% of the share capital of Ho Lee Group Pte. Ltd. ("HLG"). HLG holds 50% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 1,201,025 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which hold 8,545,442 Units in Elite Commercial REIT. Therefore, Micheal is deemed to be interested in 9,746,467 Units held by EPH and the Manager.

Ho Lee Group Trust ("HLGT") holds 36,844,684 Units. Micheal is a beneficiary of HLGT, and therefore is deemed to be interested in the 36,844,684 Units held by HLGT.

Micheal is also deemed interested in the 226,601 Units held by his wife, Kan Phui Lin.

The percentage of unitholdings before and after the change are calculated based on 475,468,345 and 476,506,248 outstanding Units respectively.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer

Immediately after the transaction

No. of ordinary voting shares/units held: 8545442 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 1.79000000 (Direct Interest); 0.00000000 (Deemed Interest)

The Manager received 1,037,903 units ("Management Fee Units") at 0.6646 per Management Fee Unit. The Management Fee Units have been issued as payment of 100% of the Manager's Base Fee, and Lease Management Fee in respect of the initial IPO portfolio of 97 properties (collectively "Management Fee") for the period from 1 October 2021 to 31 December 2021.

The issue price per Management Fee Unit is the volume weighted average price for a Unit for all trades done on the Singapore Exchange Securities Trading Limited in the ordinary course of trading for the last ten business days for the period ended 31 December 2021.

The percentage of unitholding before and after the change is calculated based on 475,468,345 and 476,506,248 outstanding Units respectively.

Remarks
Pursuant to a shareholder loan agreement between the Manager, Elite Partners Holdings Pte. Ltd. ("EPH"), Jin Leng Investments Pte. Ltd. ("JLI"), and Sunway RE Capital Pte. Ltd. ("SRC") (collectively the "Shareholders"), the repayment of the shareholder loans are paid to the Shareholders in the form of 830,478 Units (the "Repayment Units"). EPH received 564,725 units out of the 830,478 Repayment Units.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 8708564 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 1.83000000 (Deemed Interest)

Mr. Victor Song Chern Chean ("Victor") holds 22.5% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 1,201,025 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 7,507,539 Units in Elite Commercial REIT. Therefore, Victor is deemed to be interested in 8,708,564 Units held by EPH and the Manager.

The percentage of unitholdings before and after the change are calculated based on 475,468,345 outstanding Units.

Oversea-Chinese Banking Corporation Limited and UBS AG, Singapore Branch are the joint issue managers for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Issue Managers"). Oversea-Chinese Banking Corporation Limited, UBS AG, Singapore Branch, CGS-CIMB Securities (Singapore) Pte. Ltd. and China International Capital Corporation (Singapore) Pte. Limited are the joint bookrunners and underwriters for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Bookrunners and Underwriters").

Remarks
Pursuant to a shareholder loan agreement between the Manager, Elite Partners Holdings Pte. Ltd. ("EPH"), Jin Leng Investments Pte. Ltd. ("JLI"), and Sunway RE Capital Pte. Ltd. ("SRC") (collectively the "Shareholders"), the repayment of the shareholder loans are paid to the Shareholders in the form of 830,478 Units (the "Repayment Units"). EPH received 564,725 units out of the 830,478 Repayment Units.

Immediately after the transaction

No. of ordinary voting shares/units held: 151039 (Direct Interest); 45779849 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.03000000 (Direct Interest); 9.63000000 (Deemed Interest)

Mr. Tan Hai Peng Micheal ("Micheal") holds 35.975% of the share capital of Teck Lee Holdings Pte. Ltd. ("TLH"). TLH holds 81.25% of the share capital of Ho Lee Group Pte. Ltd. ("HLG"). HLG holds 50% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 1,201,025 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 7,507,539 Units in Elite Commercial REIT. Therefore, Micheal is deemed to be interested in 8,708,564 Units held by EPH and the Manager.

Ho Lee Group Trust ("HLGT") holds 36,844,684 Units. Micheal is a beneficiary of HLGT, and therefore is deemed to be interested in the 36,844,684 Units held by HLGT.

Micheal is also deemed interested in the 226,601 Units held by his wife, Kan Phui Lin.

The percentage of unitholdings before and after the change are calculated based on 475,468,345 outstanding Units.

Oversea-Chinese Banking Corporation Limited and UBS AG, Singapore Branch are the joint issue managers for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Issue Managers"). Oversea-Chinese Banking Corporation Limited, UBS AG, Singapore Branch, CGS-CIMB Securities (Singapore) Pte. Ltd. and China International Capital Corporation (Singapore) Pte. Limited are the joint bookrunners and underwriters for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Bookrunners and Underwriters").

Remarks
Immediately after the transaction

No. of ordinary voting shares/units held: 7507539 (Direct Interest); 0 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 1.58000000 (Direct Interest); 0.00000000 (Deemed Interest)

Pursuant to a shareholder loan agreement between the Manager, Elite Partners Holdings Pte. Ltd. ("EPH"), Jin Leng Investments Pte. Ltd. ("JLI"), and Sunway RE Capital Pte. Ltd. ("SRC") (collectively the "Shareholders"), the repayment of the shareholder loans are paid to the Shareholders in the form of 830,478 Units (the "Repayment Units").

The allocation of Repayment Units to the Shareholders is set out as follows:
(i) EPH received 564,725 Repayment Units;
(ii) JLI received 141,181 Repayment Units; and
(iii) SRC received 124,572 Repayment Units.

The percentage of unitholdings before and after the change are calculated based on 475,468,345 outstanding Units.

Oversea-Chinese Banking Corporation Limited and UBS AG, Singapore Branch are the joint issue managers for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Issue Managers"). Oversea-Chinese Banking Corporation Limited, UBS AG, Singapore Branch, CGS-CIMB Securities (Singapore) Pte. Ltd. and China International Capital Corporation (Singapore) Pte. Limited are the joint bookrunners and underwriters for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Bookrunners and Underwriters").

Remarks
Elite Commercial REIT Management Pte. Ltd., as manager of Elite Commercial REIT, received 1,138,769 units at 0.6711 per unit as payment of 100.0% of the base fee component of its management fee and its lease management fee in respect of the initial IPO portfolio of 97 properties for the period from 1 July 2021 to 30 September 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 8974317 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 1.89000000 (Deemed Interest)

Mr. Victor Song Chern Chean ("Victor") holds 22.5% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 636,300 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which holds 8,338,017 Units in Elite Commercial REIT. Therefore, Victor is deemed to be interested in 8,974,317 Units held by EPH and the Manager.

The percentage of unitholdings before and after the change are calculated based on 474,329,576 and 475,468,345 outstanding Units respectively.

Oversea-Chinese Banking Corporation Limited and UBS AG, Singapore Branch are the joint issue managers for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Issue Managers"). Oversea-Chinese Banking Corporation Limited, UBS AG, Singapore Branch, CGS-CIMB Securities (Singapore) Pte. Ltd. and China International Capital Corporation (Singapore) Pte. Limited are the joint bookrunners and underwriters for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Bookrunners and Underwriters").

Remarks
Elite Commercial REIT Management Pte. Ltd., as manager of Elite Commercial REIT, received 1,138,769 units at 0.6711 per unit as payment of 100.0% of the base fee component of its management fee and its lease management fee in respect of the initial IPO portfolio of 97 properties for the period from 1 July 2021 to 30 September 2021.

Immediately after the transaction

No. of ordinary voting shares/units held: 151039 (Direct Interest); 46045602 (Deemed Interest)
As a percentage of total no. of ordinary voting shares/units: 0.03000000 (Direct Interest); 9.68000000 (Deemed Interest)

Mr. Tan Hai Peng Micheal ("Micheal") holds 35.975% of the share capital of Teck Lee Holdings Pte. Ltd. ("TLH"). TLH holds 81.25% of the share capital of Ho Lee Group Pte. Ltd. ("HLG"). HLG holds 50% of the share capital of Elite Partners Holdings Pte. Ltd. ("EPH"), which holds 636,300 Units in Elite Commercial REIT. EPH holds 68% of the share capital of Elite Commercial REIT Management Pte. Ltd. (the "Manager"), which hold 8,338,017 Units in Elite Commercial REIT. Therefore, Micheal is deemed to be interested in 8,974,317 Units held by EPH and the Manager.

Ho Lee Group Trust ("HLGT") holds 36,844,684 Units. Micheal is a beneficiary of HLGT, and therefore is deemed to be interested in the 36,844,684 Units held by HLGT.

Micheal is also deemed interested in the 226,601 Units held by his wife, Kan Phui Lin.

The percentage of unitholdings before and after the change are calculated based on 474,329,576 and 475,468,345 outstanding Units respectively.

Oversea-Chinese Banking Corporation Limited and UBS AG, Singapore Branch are the joint issue managers for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Issue Managers"). Oversea-Chinese Banking Corporation Limited, UBS AG, Singapore Branch, CGS-CIMB Securities (Singapore) Pte. Ltd. and China International Capital Corporation (Singapore) Pte. Limited are the joint bookrunners and underwriters for the initial public offering of units in Elite Commercial REIT (collectively, the "Joint Bookrunners and Underwriters").