ARA Asset Management (Prosperity) Limited

ARA Asset Management (Prosperity) Limited (the "REIT Manager") is the manager of Prosperity REIT. The REIT Manager is a wholly-owned subsidiary of ARA Asset Management Limited which is part of the ESR Group, APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally.

The REIT Manager was established for the purpose of managing Prosperity REIT for the benefit of the unitholders. It is a dedicated manager to Prosperity REIT and will not manage any other real estate investment trust or be involved in any other property business. The REIT Manager is licensed by the Securities and Futures Commission of Hong Kong (the "SFC") to conduct the regulated activity of asset management, as required by the Securities and Futures Ordinance (the "SFO") and the Code on Real Estate Investment Trusts (the "REIT Code").

Scope of Management

The REIT Manager is responsible for actively managing the properties in order to maintain high occupancy levels, achieve strong rental growth and maximize net property income. The REIT Manager works closely with the Property Manager to drive organic growth and build strong relationship with tenants as well as seek property enhancement opportunities.

The REIT Manager has general power of management over the assets of Prosperity REIT and shall act in the best interests of the unitholders in accordance with the REIT Code. The REIT Manager's role under trust deed constituting Prosperity REIT (the "Trust Deed") is to manage Prosperity REIT in accordance with the Trust Deed and, in particular, to ensure that the financial and economic aspects of the assets of Prosperity REIT are professionally managed in the sole interests of the unitholders. Other main roles, functions and responsibilities of the REIT Manager include:

• setting the strategic direction and risk management policies of Prosperity REIT on acquisition, divestment or enhancement of assets of Prosperity REIT in accordance with its stated investment strategy;
• preparing various property plans on a regular basis to explain the performance of the assets of Prosperity REIT;
• ensuring compliance with the applicable provisions of the REIT Code, the SFO and all other relevant legislation, the Listing Rules, the Trust Deed, all other relevant legislation and all relevant contracts; and
• attending to all regular communications with unitholders.