On behalf of the Board of Directors of KIP REIT Management Sdn Bhd ("Board"), being the management company of KIP REIT ("Manager"), UOB Kay Hian (M) Sdn Bhd (formerly known as UOB Kay Hian Securities (M) Sdn Bhd) ("UOBKH") wishes to announce that Pacific Trustees Berhad, acting solely in its capacity as the trustee for and on behalf of KIP REIT ("Trustee"), had on 27 April 2026 entered into a conditional sale and purchase agreement with Festiva Mall Sdn Bhd ("FMSB" or the "Vendor") for the proposed acquisition of a three (3) storey shopping mall together with a basement carpark known as Setapak Central Mall located at No. 67, Jalan Taman Ibu Kota, 53300 Setapak, Kuala Lumpur, held under Strata Title No. Pajakan Negeri 46795/M1/B1/1 together with forty-seven (47) Accessory Parcels Nos. A1, A2, A3, A4, A5, A6, A7, A8, A9, A10, A11, A12, A13, A14, A15, A16, A17, A18, A19, A20, A21, A22, A23, A24, A25, A26, A27, A28, A29, A30, A31, A32, A33, A34, A35, A36, A37, A38, A39, A40, A41, A42, A43, A44, A45, A46, A286, Lot 30119, Mukim of Setapak, District of Kuala Lumpur, Federal Territory of Kuala Lumpur ("Subject Property"), from FMSB, for a cash consideration of RM435 million ("Purchase Consideration") ("SPA") ("Proposed Acquisition").

In conjunction with the Proposed Acquisition, the Board proposes to undertake a proposed placement of up to 220,000,000 new units in KIP REIT ("KIP REIT Unit(s)" or "Unit(s)") ("Placement Units"), representing approximately 22.95% of the existing issued Units, at an issue price to be determined later ("Proposed Placement"), to partly fund the Purchase Consideration. The Proposed Placement shall be allocated in the following manner: (a) up to 30,000,000 Units to Dato' Ong Choo Meng, (b) up to 10,000,000 Units to Dato' Ong Kook Liong, and (c) up to 180,000,000 Units to independent investors to be identified at a later date, where such investors shall fall within Schedules 6 and 7 of the Capital Markets and Services Act 2007 ("CMSA"), details as set out in the announcement.

Further details on the Proposals are set out in the attachment enclosed.

This announcement is dated 27 April 2026.