CHANGE IN THE NUMBER OF ISSUED UNITS On 5 May 2025, ESR-REIT completed the Unit consolidation (the “Unit Consolidation”) of every ten (10) existing Units held by Unitholders of ESR-REIT into one (1) consolidated Unit. The changes in the number of issued Units during FY2025 are as follows: Changes in the number of Units prior to the Unit Consolidation i. 30,201,919 new Units were issued as partial payment of management fees in Units; ii. 50,300,000 Units were repurchased by way of market acquisitions pursuant to the unit buy-back mandate approved by Unitholders. All Units repurchased have been cancelled as at 31 December 2025. Changes in the number of Units post the Unit Consolidation i. 2,959,313 new Units were issued as partial payment of management fees in Units; ii. 838,700 Units were repurchased by way of market acquisitions pursuant to the unit buy-back mandate approved by Unitholders. All Units repurchased have been cancelled as at 31 December 2025. FY2025 Number of Units FY2024 Number of Units Issued Units at beginning of the year 8,049,164,215 7,689,164,004 Changes in the number of Units prior to Unit Consolidation - Management fees paid in Units 30,201,919 48,562,583 - Preferential offering - 289,180,327 - Unit buy-back (50,300,000) (45,920,600) - Partial consideration paid in Units for the acquisition of a subsidiary - 39,612,274 - Acquisition fees paid in Units3 - 28,565,627 Effect of Unit Consolidation (7,226,151,680) - Changes in number of Units post Unit Consolidation - Management fees paid in Units 2,959,313 - - Unit buy-back (838,700) - Issued Units at end of the year 805,035,067 8,049,164,215 3 The acquisition fees paid in units during FY2024 comprised (i) 16,376,146 new units issued on 23 December 2024 at an issue price of S$0.2616 per unit in relation to the acquisition of a 51% interest in 20 Tuas South Avenue 14; and (ii) 12,189,481 new units issued on 23 December 2024 at an issue price of S$0.2681 per unit in relation to the acquisition of ESR Yatomi Kisosaki Distribution Centre. A breakdown of the change in the number of issued Units during FY2025 as compared to FY2024 is as follows: 55 ESR-REIT ANNUAL REPORT 2025
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