SoilBuid Business Trust - Private Placement

Soilbuid Business Trust executed a private placement yesterday for 111,800,000 shares at a price of
$0.805 cents per share. The gross proceeds amount to $90m including the upsize option.The exercise price is at a discount of 2.8% to the VWAP for the full trading day on 22th April which seems reasonable.

Abou $88.4m of the proceeds will go to partially fund the purchase of 72, Loyang Way and $1.6m will go to pay the estimated expenses incurred in this private placement.Aggregate leverage based on pro forma basis will be marginally reduced to 36.1% from 38.5%.