Mapletree Commercial Trust : Proposed Merger by way of a Trust Scheme of Arrangement (Dealings Disclosure)

To: An Authorised Person

For and on behalf of Mapletree Commercial Trust Management Ltd.

From: BlackRock, Inc.1

Relationship to MCT: Associate of MCT

Date: 17th January 2022

	1. Disclosure of Dealings in MCT units ("MCT Units") during the Trust Scheme Period
	Date of	Nature of Dealing	Number of MCT	Number of MCT	Price	Holdings in	Name of Registered Holder
	Purchase/Sale				Units	Units	Transacted	MCT Units	or Identity of Principal or
					Bought/Increased	Sold/Decreased	per MCT Unit	following the	Associate or other Person
								Transaction	Dealing
	14-Jan-22	Market purchase	BUY	60,300		1.8539 SGD	162,510,075	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	10,200		1.83 SGD	162,520,275	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	20,500		1.8464 SGD	162,540,775	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	15,600		1.8464 SGD	162,556,375	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	124,300		1.8467 SGD	162,680,675	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	296,700		1.8464 SGD	162,977,375	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	400		1.83 SGD	162,977,775	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	28,000		1.8539 SGD	163,005,775	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	300		1.83 SGD	163,006,075	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	27,800		1.8464 SGD	163,033,875	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	104,100		1.8539 SGD	163,137,975	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	29,800		1.8464 SGD	163,167,775	BlackRock, Inc.
	14-Jan-22	Market purchase	SELL		14,500	1.85 SGD	163,153,275	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	111,400		1.8464 SGD	163,264,675	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	21,800		1.83 SGD	163,286,475	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	106,000		1.8464 SGD	163,392,475	BlackRock, Inc.
	14-Jan-22	Market purchase	BUY	72,900		1.8464 SGD	163,465,375	BlackRock, Inc.

1	Dealings on behalf of investment clients have been made on a discretionary (not non-discretionary) basis.

14-Jan-22	Market purchase	BUY	18,900		1.8464 SGD	163,484,275	BlackRock, Inc.
14-Jan-22	Market purchase	BUY	93,000		1.8464 SGD	163,577,275	BlackRock, Inc.
14-Jan-22	Market purchase	BUY	18,400		1.86 SGD	163,595,675	BlackRock, Inc.
14-Jan-22	In-specie transfer	In	436,600		N/A	164,032,275	BlackRock, Inc.
14-Jan-22	Stock Loan	Loan Return	74,225		N/A	164,106,500	BlackRock, Inc.
14-Jan-22	Stock Loan	Loan Return	100		N/A	164,106,600	BlackRock, Inc.

BlackRock, Inc. owns or controls 164,106,600 MCT Units after the dealings reported above, representing approximately 4.94% of the total number of issued MCT Units2.

2. Disclosure of Dealings in MNACT units ("MNACT Units") during the Trust Scheme Period

Date of	Nature of Dealing	Number of MNACT	Number of	Price	Holdings in	Name of Registered
Purchase/Sale			Units	MNACT Units	Transacted	MNACT Units	Holder or Identity of
			Bought/Increased	Sold/Decreased	per MNACT	following the	Principal or
					Unit	Transaction	Associate or other
							Person Dealing
14-Jan-22	Stock Loan	Loan		106,000	N/A	71,833,195	BlackRock, Inc.

BlackRock, Inc. owns or controls 71,833,195MNACT Units after the dealings reported above, representing approximately 2.04% of the total number of issued MNACT Units3.

2

3

Based on 3,322,353,562 MCT Units outstanding as at the date hereof. Based on 3,527,974,156 MNACT Units outstanding as at the date hereof.

3. Disclosure of Dealings in Convertible Securities, Warrants, Options and Derivatives in respect of MCT Units ("Relevant MCT Securities") during the Trust Scheme Period

			Number(2) of	Exercise			Name of Registered
Date of	Nature of Transaction (Buy /	Date /	Price per MCT	Holdings and Resultant	Holder or Identity of
Reference	Maturity Date	Percentage (%) in MCT	Principal or
Transaction(1)	Sell / Settlement)	Unit(4)
MCT Units	/ Closing-Out	Units following Transaction	Associate or other
				Date(3)			Person Dealing
14-Jan-22		BUY	27,900	N/A	1.8438 SGD		BlackRock, Inc.
14-Jan-22		BUY	2,000	N/A	1.841 SGD	See Question 1 above - this	BlackRock, Inc.
14-Jan-22		BUY	166,900	N/A	1.855 SGD	BlackRock, Inc.
Contract for	Transaction does not result in a
14-Jan-22	difference (cash-	BUYCLOSE	4,600	N/A	1.8467 SGD	change in holdings in MCT Units,	BlackRock, Inc.
	settled only)					on the basis that the Transaction
14-Jan-22	BUY	64,400	N/A	1.8438 SGD	BlackRock, Inc.
	is cash-settled
14-Jan-22		BUY	42,200	N/A	1.843 SGD	BlackRock, Inc.
14-Jan-22		BUY	154,500	N/A	1.8526 SGD		BlackRock, Inc.

1. In respect of derivatives, this would be the date of entering into or closing out of the derivative.
2. In respect of derivatives, this would be the number of reference securities to which they relate.
3. In respect of derivatives, this would be the maturity date of such derivatives.
4. In respect of derivatives, this would be the reference price of such derivatives.

Other arrangements in relation to MCT Units or Relevant MCT Securities (if applicable): N/A

4. Disclosure of Dealings in Convertible Securities, Warrants, Options and Derivatives in respect of MNACT Units ("Relevant MNACT Securities") during the Trust Scheme Period

			Number(2)	Exercise			Name of Registered
Date of	Nature of Transaction (Buy / Sell	of	Date /	Price per	Holdings and Resultant	Holder or Identity of
Reference	Maturity Date	MNACT	Percentage (%) in MNACT	Principal or Associate
Transaction(1)	/ Settlement)
MNACT	/ Closing-Out	Unit(4)	Units following Transaction	or other Person
			Units	Date(3)			Dealing

1. In respect of derivatives, this would be the date of entering into or closing out of the derivative.
2. In respect of derivatives, this would be the number of reference securities to which they relate.
3. In respect of derivatives, this would be the maturity date of such derivatives.
4. In respect of derivatives, this would be the reference price of such derivatives.

Other arrangements in relation to MNACT Units or Relevant MNACT Securities (if applicable): N/A

The information relating to us/me or my close relatives (if applicable) is provided to the best of our/my knowledge, on a "best efforts" basis. I/We confirm that I/we agree to the MCT Manager disclosing the information provided herein to the Securities Industry Council and other regulatory authorities as may be required or necessary, such other persons as the MCT Manager may in its absolute discretion deem necessary or appropriate and in any public document which may be required by any regulatory authority or by any law or regulation (including, without limitation, the Singapore Code on Take-overs and Mergers).

I/We will promptly notify the MCT Manager should any of the said information prove to be untrue or incorrect in any respect between the date of this disclosure and the latest practicable date prior to the printing of the Scheme Document. In the absence of such notification, the parties involved in the preparation of the Scheme Document are entitled to assume that the information hereby furnished is true, accurate and complete and remains unchanged.

Yours faithfully

_______________________________

Name: Anh Do on behalf of BlackRock, Inc.