• One of the largest rooftop solar photovoltaic (PV) installations by any Singapore-listed real estate investment trust¹

• The combined solar PV system generates over 14,500 Megawatt-hours of energy per year, which is equivalent to powering 4,400 3-room HDB flats for a year²

• AA REIT will receive renewable energy certificates (RECs) which can be used to offset carbon emissions by AA REIT and its tenants

Singapore, 16 September 2022 – AIMS APAC REIT Management Limited (the Manager) as manager of AIMS APAC REIT (AA REIT) and SP Group (SP), a leading provider of utilities and sustainable energy solutions in Asia Pacific, announced a partnership to install rooftop solar PV system across six of AA REIT’s industrial, logistics and warehouse properties in Singapore by December 2023. The six properties are 20 Gul Way, 27 Penjuru Lane, 30 Tuas West Road, 103 Defu Lane, 8 & 10 Pandan Crescent and 8 Tuas Avenue 20. The 10.8 Megawatt-peak (MWp) combined solar PV system will be one of the largest rooftop solar installations by any Singapore-listed real estate investment trust.

To be deployed and maintained by SP, the 20,157 rooftop solar panels will span across 5.2 hectares and can collectively produce 14,500 Megawatt-hours (MWh) of energy per year which is equivalent to powering 4,400 three-room Housing & Development Board (HDB) flats each year. This will help avoid over 5,900 tonnes of carbon emissions a year and is equivalent to taking almost 6,490 cars off the road³.

The solar energy generated from the combined rooftop solar PV system is recognised as a renewable energy source and AA REIT will receive all the renewable energy certificates (RECs) associated with the green energy generated. These RECs can be used to offset carbon emissions by AA REIT as well as support its tenants in their emission reduction efforts.

The Manager’s CEO, Mr Russell Ng, said, “We believe in embedding sustainability into our business practices, which not only benefits the environment and our stakeholders, but creates long-term value for our unitholders. Furthermore, we are pleased to partner with one of Asia Pacific’s leading utilities company, SP Group, on this significant milestone and continuation of our decarbonisation journey. We are also proactively reviewing our portfolio to identify measures and potential opportunities to reduce the brown energy consumption and carbon footprint across our properties."

Mr S. Harsha, Managing Director of Sustainable Energy Solutions, Singapore, SP Group, said, “Accelerating Singapore’s transition to a clean energy future is a key priority for SP Group. We are pleased to support AIMS APAC REIT in achieving this milestone on their sustainability agenda with the incorporation of solar and carbon solutions. Our expertise in renewables and smart energy management solutions helps industrial, commercial and residential properties green their energy consumption, and enhance the energy efficiency and performance of buildings. This drives decarbonisation of our highly urbanised city and unlocks greater asset value for all stakeholders.”

Additionally, AA REIT and SP are also exploring the feasibility of introducing more sustainable energy solutions to enhance the sustainability credentials in AA REIT's Singapore portfolio.

- Ends -

Important Notice

The value of units of AIMS APAC REIT (“AA REIT”) (“Units”) and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by, AIMS APAC REIT Management Limited (“Manager”), or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.

Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders of AA REIT may only deal in their Units through trading on the Singapore Exchange Securities Trading Limited (the “SGX-ST”). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units. The past performance of AA REIT is not necessarily indicative of the future performance of AA REIT.

This announcement may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses (including employee wages, benefits and training costs), property expenses and governmental and public policy changes. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager’s view of future events.

About AIMS APAC REIT (www.aimsapacreit.com)

Managed by the Manager, AA REIT was established with the principal investment objective of owning and investing in a diversified portfolio of income-producing industrial, logistics and business park real estate, located throughout the Asia Pacific region. The real estate assets are utilised for a variety of purposes, including but not limited to warehousing and distribution activities, business park activities and manufacturing activities. AA REIT’s existing portfolio consists of 29 properties, of which 26 properties are located throughout Singapore, and 3 properties located in Australia, including a property located in Gold Coast, Queensland, a 49.0% interest in Optus Centre located in Macquarie Park, New South Wales and Woolworths Headquarters located in Bella Vista, New South Wales.

For further information, please visit www.aimsapacreit.com or follow us on LinkedIn at https://www.linkedin.com/company/aimsapacreit/

About AIMS Financial Group (www.aims.com.au)

AIMS Financial Group (“AIMS”) is the sole sponsor of AA REIT. Established in 1991, AIMS is a diversified financial services and investment group, active in the areas of funds management, mortgage lending, investment banking and property investment. AIMS is also the owner of the Sydney Stock Exchange.

AIMS' head office is in Sydney and it has businesses across Australia, China, Hong Kong and Singapore. Its highly qualified, professional and experienced cross-cultural teams enable AIMS to bridge the gap between Australia and Asia across various sectors.

For further information, please visit www.aims.com.au

About SP Group (www.spgroup.com.sg)

SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand.

As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide.

Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region.

For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG, and on LinkedIn at spgrp.sg/linkedin.