Distributions

Distributions Per unit (DPU)

Cromwell European Real Estate Investment Trust (“CEREIT”)'s distribution policy is to distribute at least 90% of its annual distributable income in each financial year.

Distributions are declared in EUR. Unitholders will receive their distributions in Singapore dollars equivalent of the EUR distribution declared, unless they elect to receive the relevant distribution in EUR by submitting a “Notice of Election” that will be send out to all Unitholders.

Notice of Record and Distribution Payment Date

The unitholders of CEREIT (“Unitholders”) will receive CEREIT’s distributable income of €8.695 cents per unit for the period from 1 January 2022 to 30 June 2022 (the “Distribution”).

The distribution comprises two components:

  1. Distribution out of tax-exempt income (“Tax-exempt Income Distribution”) of €7.166 cents per Unit; and
  2. Distribution out of capital (“Capital Distribution”) of €1.529 cents per Unit.

The Tax-exempt Income Distribution is exempt from tax in the hands of all Unitholders. No tax will be deducted at source.

The Capital Distribution represents a return of capital to Unitholders for Singapore income tax purposes and is therefore not subject to income tax. For Unitholders who hold the Units as trading assets, the amount of capital gain distribution will be applied to reduce the cost base of their Units for the purpose of calculating the amount of taxable trading gains arising from the disposal of the Units.

For the avoidance of doubt, the Distribution Reinvestment Plan will be suspended for the Distribution.

Event

Date / Deadline

Units will be traded ex-dividend

Monday, 22 August 2022 at 9.00 a.m.

Record Date

Tuesday, 23 August 2022 at 5.00 p.m.

Despatch of Currency Election Notice*

On or about Wednesday, 31 August 2022

Completed Currency Election Notice must be received by CDP

Monday, 12 September 2022 at 5.00 p.m.

Payment of Distribution

Wednesday, 28 September 2022

* Registered Unitholders (other than CDP) and Unitholders whose Units are held directly through CDP will receive their Distribution in Singapore dollars, unless Unitholders elect to receive their Distribution in Euro by submitting a completed Currency Election Notice to CDP by Monday, 12 September 2022. No action is needed for Unitholders who wish to receive the Distribution in Singapore dollars.

Distribution History

Period

DPU
(EURO cents)#

DPU
(Singapore Dollar cents)#

Payment Date

1 January 2022 – 30 June 2022

8.695

12.225

28 September 2022

1 July 2021 – 31 December 2021

8.459

12.614

31 March 2022

5 March 2021 - 30 June 2021*

5.602

8.865

28 September 2021

1 January 2021 - 4 March 2021**

2.900

4.605

31 March 2021

1 July 2020 - 31 December 2020

8.720

13.840

31 March 2021

1 January 2020 – 30 June 2020

8.700

13.950

28 September 2020

2 July 2019 - 31 December 2019

10.150

15.760

30 March 2020

1 January 2019 - 1 July 2019

10.250

15.623

31 July 2019

1 July 2018 - 31 December 2018

7.850

11.950

29 March 2019

30 November 2017 - 30 June 2018

12.650

20.196

28 September 2018

Notes:

* Distribution of €5.602 Euro cents per unit is computed based on 100% payout ratio for CEREIT’s distributable income for 1H 2021 (€8.502 Euro cents per unit), less the €2.900 Euro cents per unit advanced distribution already paid out for the period from 1 January to 4 March 2021.

** Advanced distribution in relation to 24 February 2021 private placement

# Distributions for the periods prior to 5 March 2021 are adjusted for 5:1 unit consolidation to provide for a like-for-like comparison.