• Public Offer of 53,763,000 Units approximately 9.6 times subscribed, valid applications amount to approximately S$478.7 million

• Largest REIT IPO in Singapore year-to-date with S$512.9 million raised

• Commencement of trading of Keppel DC REIT on the Main Board of the SGX-ST at 2.00 pm today, 12 December 2014

Unless otherwise defined, all capitalised terms in this press release shall have the meanings ascribed to them in the prospectus dated 5 December 2014 (the "Prospectus") registered by the Monetary Authority of Singapore.

Keppel DC REIT Management Pte. Ltd. [吉宝数据中心房地产信托管理有限公司] (as manager of Keppel DC REIT [吉宝数据中心房地产信托], the "Manager"), a wholly-owned subsidiary of Keppel Telecommunications & Transportation Ltd [吉宝电讯与通运有限公司] ("Keppel T&T" or the "Sponsor") has received overwhelming demand from institutional and retail investors for its initial public offering of 261,138,000 Units (the "Offering").

The Offering comprised an international placement of 207,375,000 Units¹ to investors, including institutional and other investors in Singapore (the "Placement Tranche"), and an offering of 53,763,000 Units to the public in Singapore (the "Public Offer").

Due to strong demand from institutional investors during the book-building process, the Units were priced at the top end of the offering price range at S$0.93 per Unit. Indications of interest received from institutional investors for the Placement Tranche amounted to S$4.7 billion, representing approximately 24.4 times of the Units available¹ under the Placement Tranche.

At the close of the Public Offer at 12.00 pm on 10 December 2014, 15,627 valid applications for an aggregate of 514,724,000 Units amounting to approximately S$478.7 million were received, resulting in the Public Offer being 9.6 times subscribed.

Concurrently but separate from the Offering, Keppel DC REIT secured S$270.0 million from nine cornerstone investors comprising AEW Asia Pte Ltd, DBS Bank Ltd., DBS Bank Ltd. (on behalf of certain private banking clients), Eastspring Investments (Singapore) Limited, Fortress Capital Asset Management (M) Sdn. Bhd., Mr Gordon Tang, Mr Lim Chap Huat, Myriad Asset Management Limited (on behalf of Myriad Opportunities Master Fund Limited), and Wellington Management Company, LLP (on behalf of various investment advisory clients). Collectively, these cornerstone investors have subscribed for an aggregate of 290,316,000 Units at the Offering Price (the "Cornerstone Units"), representing 53% of the total gross IPO proceeds.

In total, Keppel DC REIT has raised S$512.9 million from the Offering and the Cornerstone Units, making it the largest REIT IPO on the SGX-ST for the year-to-date.

Commenting on the robust demand, Mr Chua Hsien Yang [蔡显扬], Chief Executive Officer of the Manager said, "The overwhelming demand from both institutional and retail investors for the Offering is a strong testament to Keppel DC REIT's high quality portfolio and strong management team".

"We are very encouraged that investors have signalled their confidence in this truly unique opportunity to invest in the first data centre REIT listed in Asia and in Singapore. Backed by a sound growth strategy, active portfolio management, a visible acquisition pipeline provided by its committed Sponsor and asset enhancement initiatives, Keppel DC REIT will strive to provide regular and stable distributions to all its investors," he added.

Based on the Offering Price of S$0.93 per Unit, Keppel DC REIT investors can expect a distribution yield of 6.8%²  in Forecast Year 2015 and 7.1%² in Projection Year 2016 with a distribution growth of 4.5%², driven by built-in rental escalations as well as the renewal or commencement of leases and co-location arrangements.

Trading of Keppel DC REIT Units on the Main Board of Singapore Exchange Securities Trading Limited (the "SGX-ST") is expected to commence at 2.00pm today, 12 December 2014. Details on allotments and/or allocations will be published in The Business Times and SGXNET prior to the listing of the Units on the Main Board of the SGX-ST. The announcement will also be posted on the website of the SGX-ST at http://www.sgx.com.

The Joint Financial Advisers and Issue Managers for the Offering are DBS Bank Ltd. and Standard Chartered Securities (Singapore) Pte. Limited while the Joint Global Coordinators for the Offering are DBS Bank Ltd., Standard Chartered Securities (Singapore) Pte. Limited and Credit Suisse (Singapore) Limited. The Joint Bookrunners and Underwriters are DBS Bank Ltd., Standard Chartered Securities (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited, Deutsche Bank AG, Singapore Branch and Goldman Sachs (Singapore) Pte..

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Important Notice:

This media release should be read in conjunction with the Prospectus registered by the Monetary Authority of Singapore.

This media release is for information only and does not constitute an offer, invitation to purchase or subscribe for or solicitation of Units in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. The information in this media release in respect of Keppel DC REIT is qualified in its entirety by, and should be read in conjunction with, the full text of the Prospectus. Anyone wishing to purchase Units should read the Prospectus before deciding whether to purchase Units and will need to make an application in the manner set out in the Prospectus. Any decision to purchase Units should be made solely on the basis of information contained in the Prospectus and no reliance should be placed on any information other than that contained in the Prospectus.

The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager, The Trust Company (Asia) Limited (as trustee of Keppel DC REIT), the Company, the Joint Financial Advisers and Issue Managers, Joint Global Coordinators and the Joint Bookrunners and Underwriters. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Save for the Redemption (as defined in the Prospectus) which will be completed on the Listing Date following the listing of the Units on the SGX-ST, investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.

This media release is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities in the United States. This media release is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold in the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements under the Securities Act. No public offering of securities is being made in the United States.

About Keppel DC REIT

Keppel DC REIT is the first data centre REIT listed in Asia on the Main Board of the SGX-ST.

Keppel DC REIT is a Singapore REIT established with the investment strategy of principally investing, directly or indirectly, in a diversified portfolio of income-producing real estate assets which are used primarily for data centre purposes, as well as real estate-related assets, with an initial focus on Asia-Pacific and Europe.

The IPO Portfolio of Keppel DC REIT has an aggregate Appraised Value of approximately S$1.0 billion³ as at 30 September 2014 and an aggregate Lettable Area of approximately 509,913 sq ft. It comprises eight data centre properties in Asia-Pacific and Europe: S25 and T25 in Singapore; Gore Hill Data Centre in Sydney, Australia; iseek Data Centre in Brisbane, Australia; Basis Bay Data Centre⁴ in Selangor, Malaysia; GV7 Data Centre in London, the United Kingdom; Almere Data Centre in Amsterdam, the Netherlands; and Citadel 100 Data Centre in Dublin, Republic of Ireland.

About the Sponsor: Keppel Telecommunications & Transportation

Keppel Telecommunications & Transportation Ltd ("Keppel T&T"), is a subsidiary of Keppel Corporation Limited, a leading company listed on the Main Board of the SGX-ST with core businesses in offshore & marine, infrastructure and property.

Keppel T&T is also listed on the Main Board of SGX-ST with operations in Asia Pacific and Europe. In Singapore, Keppel T&T has over 40 years of experience in offering customised integrated logistics solutions. It currently also operates logistics facilities with advanced IT infrastructure in China, Hong Kong, Malaysia, Indonesia, Vietnam and Australia.

Headquartered in Singapore, Keppel T&T offers integrated services and solutions in two core businesses: logistics and data centres. The logistics division offers one-stop, integrated logistics solutions to help clients manage their entire supply chain, while the data centre division owns, acquires, develops and manages high-availability data centre facilities.

Keppel T&T has more than 12 years of track record in owning, designing and managing high quality data centres that support mission-critical computer systems. In order to ensure minimal downtime to these servers, data centres are built and operated to high technical standards, in terms of the provision of reliable power and cooling, water seepage prevention, fire prevention, high levels of physical security, rigorous maintenance, and are connected to land and/or submarine fibre-optic cables for high speed transmission of data. By being involved in designing and building the data centres it manages, Keppel T&T, through its subsidiary Keppel Data Centres, offers bespoke data centre suites to customers who require co-location services and manages them to customers' service level requirements.

Keppel Data Centres owns, manages and operates high-availability data centres in Singapore and Ireland. As a carrier-neutral data centre operator, Keppel Data Centres provides data centre co-location services, dedicated co-location suites as well as 24-hour technical support to its customers.

¹ Excluding the Sponsor Units, KLL Units and Basis Bay Consideration Units, the Private Trust Units which are to be redeemed by the Manager at the Offering Price on the Listing Date and assuming that the Over-Allotment Option is not exercised.

² The forecast and projected distribution yields are calculated based on the Offering Price and the accompanying assumptions found in the Prospectus. The distribution growth reflects the growth in distribution per Unit for Projection Year 2016 over the distribution per Unit for Forecast Year 2015. Such yields and yield growth will vary accordingly for investors who purchase Units in the secondary market at a market price different from the Offering Price.

³ Appraised Value refers to the average of the two independent valuations conducted by the respective Independent Valuers for each Property as at 30 September 2014, and translated to Singapore dollars based on exchange rates of S$1.00 = A$0.90, S$1.00 = £0.49, S$1.00 = RM2.62 and S$1.00 = €0.61 as at 2 December 2014.

⁴ Keppel DC REIT is expected to hold a 99.0% interest in Basis Bay Capital Management Sdn Bhd, which holds the Basis Bay Data Centre, with E-Basis Bay Sdn Bhd (the vendor of the property) holding the remaining 1.0% on the Listing Date.