Ascendas Funds Management (S) Limited, the manager of Ascendas Real Estate Investment Trust announced the dissolution of the Nominating and Remuneration Committee ("NRC") with effect from 1 February 2020. The Board of Directors of the company will undertake all the responsibilities of the NRC. Under the current process, recommendations made by the NRC are in all cases put up to the Board of Directors of the company for consideration and approval. Therefore, the proposed dissolution of the NRC is not expected to have any adverse effect on the effective functioning of the Board. Following the dissolution of the NRC, the remaining Board Committees of the Company are the Audit and Risk Committee and the Investment Committee.