Remarks
MUSREM and John Hancock Life Insurance Company (U.S.A) ("JHUSA"), manager and property manager of Manulife US REIT, have sold the 1,585,034 Units and 765,458 Units that they are entitled to receive as payment of the base component of management fees and property management fees for the period from 1 October 2017 to 31 December 2017 (both dates inclusive) respectively to MLRL and have in connection with the sales, directed that such Units be issued directly to MLRL instead of MUSREM and JHUSA. Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 1,585,034 Units at US$0.9236 per Unit; 765,458 Units at US$0.9236 Unit Immediately after the transaction

No. of ordinary voting shares/units held: 1 (Direct Interest); 83249209 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 8.04000000 (Deemed Interest)

MFAL wholly owns MIHL and is therefore deemed to be interested in MIHL's deemed interest in 65,961,631 Units. MFAL also wholly owns Manufacturers Life Reinsurance Limited ("MLRL") and is therefore deemed to be interested in MLRL's direct interest in 14,677,878 Units. MFAL also wholly owns Manulife US Real Estate Management Pte. Ltd. ("MUSREM") and is therefore deemed to be interested in MUSREM's direct interest in 2,609,700 Units. MIL is a wholly-owned subsidiary of MIHL, which is in turn a wholly-owned subsidiary of MFAL. MFAL is a wholly-owned subsidiary of MHBL, which is in turn a wholly-owned subsidiary of the Sponsor. The Sponsor is a wholly-owned subsidiary of MFC, which is a publicly listed entity. Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 1,033,722,152 Units in issue and 1,036,072,644 Units in issue respectively. Sponsorship Statement: DBS Bank Ltd. was the Sole Financial Adviser and Issue Manager for the initial public offering of Manulife US Real Estate Investment Trust (the "Offering"). DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch were the Joint Bookrunners and Underwriters for the Offering.

Remarks
MUSREM and John Hancock Life Insurance Company (U.S.A) ("JHUSA"), manager and property manager of Manulife US REIT, have sold the 1,585,034 Units and 765,458 Units that they are entitled to receive as payment of the base component of management fees and property management fees for the period from 1 October 2017 to 31 December 2017 (both dates inclusive) respectively to MLRL and have in connection with the sales, directed that such Units be issued directly to MLRL instead of MUSREM and JHUSA. Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 1,585,034 Units at US$0.9236 per Unit; 765,458 Units at US$0.9236 Unit Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 83249210 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 8.04000000 (Deemed Interest)

MFC wholly owns the Sponsor and is therefore deemed to be interested in the Sponsor's deemed interest in 83,249,210 Units. MIL is a wholly-owned subsidiary of MIHL, which is in turn a wholly-owned subsidiary of MFAL. MFAL is a wholly-owned subsidiary of MHBL, which is in turn a wholly-owned subsidiary of the Sponsor. The Sponsor is a wholly-owned subsidiary of MFC, which is a publicly listed entity. Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 1,033,722,152 Units in issue and 1,036,072,644 Units in issue respectively. Sponsorship Statement: DBS Bank Ltd. was the Sole Financial Adviser and Issue Manager for the initial public offering of Manulife US Real Estate Investment Trust (the "Offering"). DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch were the Joint Bookrunners and Underwriters for the Offering.

Remarks
MUSREM and John Hancock Life Insurance Company (U.S.A) ("JHUSA"), manager and property manager of Manulife US REIT, have sold the 1,585,034 Units and 765,458 Units that they are entitled to receive as payment of the base component of management fees and property management fees for the period from 1 October 2017 to 31 December 2017 (both dates inclusive) respectively to MLRL and have in connection with the sales, directed that such Units be issued directly to MLRL instead of MUSREM and JHUSA. Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 1,585,034 Units at US$0.9236 per Unit; 765,458 Units at US$0.9236 Unit Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 83249210 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 8.04000000 (Deemed Interest)

MHBL wholly owns MFAL and is therefore deemed to be interested in MFAL's direct interest in 1 Unit and deemed interest in 83,249,209 Units. MIL is a wholly-owned subsidiary of MIHL, which is in turn a wholly-owned subsidiary of MFAL. MFAL is a wholly-owned subsidiary of MHBL, which is in turn a wholly-owned subsidiary of the Sponsor. The Sponsor is a wholly-owned subsidiary of MFC, which is a publicly listed entity. Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 1,033,722,152 Units in issue and 1,036,072,644 Units in issue respectively. Sponsorship Statement: DBS Bank Ltd. was the Sole Financial Adviser and Issue Manager for the initial public offering of Manulife US Real Estate Investment Trust (the "Offering"). DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch were the Joint Bookrunners and Underwriters for the Offering.

Remarks
MUSREM and John Hancock Life Insurance Company (U.S.A) ("JHUSA"), manager and property manager of Manulife US REIT, have sold the 1,585,034 Units and 765,458 Units that they are entitled to receive as payment of the base component of management fees and property management fees for the period from 1 October 2017 to 31 December 2017 (both dates inclusive) respectively to MLRL and have in connection with the sales, directed that such Units be issued directly to MLRL instead of MUSREM and JHUSA. Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 1,585,034 Units at US$0.9236 per Unit; 765,458 Units at US$0.9236 Unit Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 83249210 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 8.04000000 (Deemed Interest)

The Sponsor wholly owns MHBL and is therefore deemed to be interested in MHBL's deemed interest in 83,249,210 Units. MIL is a wholly-owned subsidiary of MIHL, which is in turn a wholly-owned subsidiary of MFAL. MFAL is a wholly-owned subsidiary of MHBL, which is in turn a wholly-owned subsidiary of the Sponsor. The Sponsor is a wholly-owned subsidiary of MFC, which is a publicly listed entity. Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 1,033,722,152 Units in issue and 1,036,072,644 Units in issue respectively. Sponsorship Statement: DBS Bank Ltd. was the Sole Financial Adviser and Issue Manager for the initial public offering of Manulife US Real Estate Investment Trust (the "Offering"). DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch were the Joint Bookrunners and Underwriters for the Offering.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer Immediately after the transaction

No. of ordinary voting shares/units held: 4194734 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.40000000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately after the transaction" is based on 1,036,072,644 Units in issue as at 27 February 2018.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals) Immediately after the transaction

No. of ordinary voting shares/units held: 2609700 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.25000000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 1,036,072,644 Units in issue as at 27 February 2018. MUSREM has sold the Units that it is entitled to receive as payment of the base component of its management fee for the period from 1 October 2017 to 31 December 2017 (both dates inclusive) to Manufacturers Life Reinsurance Limited ("MLRL"), a wholly owned subsidiary of The Manufacturers Life Insurance Company, and has in connection with the sale, directed that such Units be issued directly to MLRL instead of MUSREM.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer Immediately after the transaction

No. of ordinary voting shares/units held: 3870580 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.37400000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately after the transaction" is based on 1,033,722,152 Units in issue as at 30 November 2017.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals) Immediately after the transaction

No. of ordinary voting shares/units held: 2609700 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.25000000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 1,033,722,152 Units in issue as at 30 November 2017. MUSREM has sold the Units that it is entitled to receive as payment of the base component of its management fee for the period from 1 July 2017 to 30 September 2017 to Manufacturers Life Reinsurance Limited ("MLRL"), a wholly owned subsidiary of The Manufacturers Life Insurance Company, and has in connection with the sale, directed that such Units be issued directly to MLRL instead of MUSREM.

Remarks
Disposal of Securities via market transaction Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): US$9,955,000 received by DBS Bank Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 41216400 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 3.99000000 (Deemed Interest)

Temasek does not have any direct interest in Units. Temasek is filing this notification form to report a change in its deemed interest in Units from 5.06% to 3.99% due to the disposal of 11,000,000 Units by DBS Bank via a market transaction. DBS Bank is a wholly-owned subsidiary of DBSH. Temasek has a more than 20% interest in DBSH. DBSH is an independently managed Temasek portfolio company. Temasek is not involved in its business or operating decisions, including those regarding the Units. The percentage of interest immediately before and after the change is calculated on the basis of 1,031,869,888 Units. In this Notice, figures are rounded down to the nearest 0.01%.

Remarks
Disposal of Securities via market transaction Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): Total consideration of US$9,955,000 received by DBS Bank Ltd. Immediately after the transaction

No. of ordinary voting shares/units held: 41216400 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 3.99000000 (Direct Interest); 0.00000000 (Deemed Interest)

DBS Bank Ltd. is a wholly-owned subsidiary of DBS Group Holdings Ltd. The percentages of interest immediately before and after the transaction above are calculated on the basis of 1,031,869,888 issued units of the Listed Issuer.

Remarks
Disposal of Securities via market transaction Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): Total consideration of US$9,955,000 received by DBS Bank Ltd. Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 41216400 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 3.99000000 (Deemed Interest)

(1) Deemed interest in 41,216,400 Units directly held by DBS Bank Ltd. DBS Bank Ltd. directly holds 41,216,400 units in Manulife US REIT ("Units"). As DBS Bank Ltd. is a wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Group Holdings Ltd is deemed to have an interest in the 41,216,400 Units directly held by DBS Bank Ltd. DBS Bank Ltd. is a wholly-owned subsidiary of DBS Group Holdings Ltd. The percentages of interest immediately before and after the transaction above are calculated on the basis of 1,031,869,888 issued units of the Listed Issuer.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer Immediately after the transaction

No. of ordinary voting shares/units held: 2609700 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.25300000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately after the transaction" is based on 1,031,869,888 Units in issue as at 8 November 2017.

Remarks
Acquisition of Securities pursuant to rights issue Immediately after the transaction

No. of ordinary voting shares/units held: 141000 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.01400000 (Direct Interest); 0.00000000 (Deemed Interest) No. of rights/options/warrants held: 0 No. of shares/units underlying the rights/options/warrants: 0

The Manager had on 25 October 2017 completed the issuance of Rights Units on the basis of 41 Rights Units for every 100 existing units in Manulife US REIT held at the books closure date at 5.00p.m. on 27 September 2017. Percentage of Units before the transaction is based on 729,971,765 Units before the issuance of Rights Units. Percentage of Units after the transaction is based on 1,029,260,188 Units issued as at 25 October 2017 including the issuance of Rights Units.

Remarks
Acquisition of Securities pursuant to rights issue Immediately after the transaction

No. of ordinary voting shares/units held: 345450 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.03400000 (Direct Interest); 0.00000000 (Deemed Interest) No. of rights/options/warrants held: 0 No. of shares/units underlying the rights/options/warrants: 0

However, the 100,450 Rights Units are jointly owned by Veronica Julia McCann and her spouse, Steven John Baggott. The Manager had on 25 October 2017 completed the issuance of Rights Units on the basis of 41 Rights Units for every 100 existing units in Manulife US REIT held at the books closure date at 5.00p.m. on 27 September 2017. Percentage of Units before the transaction is based on 729,971,765 Units before the issuance of Rights Units. Percentage of Units after the transaction is based on 1,029,260,188 Units issued as at 25 October 2017 including the issuance of Rights Units.

Remarks
Acquisition of Securities pursuant to rights issue Immediately after the transaction

No. of ordinary voting shares/units held: 772398 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.07500000 (Direct Interest); 0.00000000 (Deemed Interest) No. of rights/options/warrants held: 0 No. of shares/units underlying the rights/options/warrants: 0

However, the 224,598 Rights Units are jointly owned by Hsieh Tsun-yan and his spouse, Hsieh Siayih Goon. The Manager had on 25 October 2017 completed the issuance of Rights Units on the basis of 41 Rights Units for every 100 existing units in Manulife US REIT held at the books closure date at 5.00p.m. on 27 September 2017. Percentage of Units before the transaction is based on 729,971,765 Units before the issuance of Rights Units. Percentage of Units after the transaction is based on 1,029,260,188 Units issued as at 25 October 2017 including the issuance of Rights Units.

Remarks
Provisional allotment of Rights Entitlements pursuant to the rights issue by Manulife US REIT on the basis of 41 rights units for every 100 existing units in Manulife US REIT held as at the books closure date at 5.00 p.m. on 27 September 2017. Immediately after the transaction

No. of rights/options/warrants held: 100,450 No. of shares/units underlying the rights/options/warrants: 100,450

However, the 100,450 Rights Entitlements are jointly owned by Veronica Julia McCann and her spouse, Steven John Baggott.

Remarks
Provisional allotment of Rights Entitlements pursuant to the rights issue by Manulife US REIT on the basis of 41 rights units for every 100 existing units in Manulife US REIT held as at the books closure date at 5.00 p.m. on 27 September 2017. Immediately after the transaction

No. of rights/options/warrants held: 41,000 No. of shares/units underlying the rights/options/warrants: 41,000

Remarks
Provisional allotment of Rights Entitlements pursuant to the rights issue by Manulife US REIT on the basis of 41 rights units for every 100 existing units in Manulife US REIT held as at the books closure date at 5.00 p.m. on 27 September 2017. Immediately after the transaction

No. of rights/options/warrants held: 224,598 No. of shares/units underlying the rights/options/warrants: 224,598

However, the 224,598 Rights Entitlements are jointly owned by Hsieh Tsun-Yan and his spouse, Hsieh Siayih Goon.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer Immediately after the transaction

No. of ordinary voting shares/units held: 1106774 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.15200000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately after the transaction" is based on 729,971,765 Units in issue as at 25 August 2017.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals) Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 729,971,765 Units in issue as at 25 August 2017. MUSREM has sold the 1,106,774 Units that it is entitled to receive as payment of the base component of its management fee for the period from 1 April 2017 to 30 June 2017 to Manufacturers Life Reinsurance Limited ("MLRL"), a wholly owned subsidiary of The Manufacturers Life Insurance Company, and has in connection with the sale, directed that such Units be issued directly to MLRL instead of MUSREM.

Remarks
Acquisition of Securities via market transaction Amount of consideration paid or received by Director/CEO (excluding brokerage and stamp duties): US$199,808 Immediately after the transaction

No. of ordinary voting shares/units held: 547800 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.07500000 (Direct Interest); 0.00000000 (Deemed Interest)

The percentages of interest immediately before and after the transaction, which is the subject of this notification, are calculated on the basis of 728,368,359 issued units in Manulife US REIT as at the date of this notification. In this notification, figures are rounded down to the nearest 0.001% as the case may be and any discrepancies in aggregated figures are due to rounding.

Remarks
Acquisition of Securities via a placement Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): US$13,363,000 paid by DBS Bank Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 40000000 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 5.49000000 (Deemed Interest)

Temasek does not have any direct interest in the voting units of Manulife US Real Estate Investment Trust ("Units"). Temasek is making this notification to report a deemed interest of 5.49% in the Units as a result of the acquisition of 16,100,000 new Units by DBS Bank pursuant to the private placement announced on 29 June 2017. DBS Bank is a subsidiary of DBSH. Temasek has a more than 20% interest in DBSH. DBSH is an independently managed Temasek portfolio company. Temasek is not involved in its business or operating decisions, including those regarding the Units. The percentage of interest immediately before the change is calculated on the basis of 631,365,359 Units. The percentage of interest immediately after the change is calculated on the basis of 728,368,359 Units. In this Notice, figures are rounded down to the nearest 0.01% as the case may be and any discrepancies in aggregated figures are due to rounding.

Remarks
Acquisition of Securities via a placement Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): Total consideration of US$13,363,000 paid by DBS Bank Ltd. Immediately after the transaction

No. of ordinary voting shares/units held: 40000000 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 5.49000000 (Direct Interest); 0.00000000 (Deemed Interest)

DBS Bank Ltd. is a wholly-owned subsidiary of DBS Group Holdings Ltd. The percentages of interest immediately before and after the transaction, which is the subject of this notification, are calculated on the basis of 631,365,359 issued units in Manulife US REIT before the Private Placement and 728,368,359 issued units in Manulife US REIT after the Private Placement.

Remarks
Acquisition of Securities via a placement Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): Total consideration of US$13,363,000 paid by DBS Bank Ltd. Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 40000000 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 5.49000000 (Deemed Interest)

(1) On 29 June 2017, DBS Bank Ltd. acquired 16,100,000 units of Manulife US REIT ("Units") pursuant to a private placement (the "Private Placement"). (2) Deemed interest in 40,000,000 Units directly held by DBS Bank Ltd. As DBS Bank Ltd. is a wholly-owned subsidiary of DBS Group Holdings Ltd., DBS Group Holdings Ltd is deemed to have an interest in the 40,000,000 Units directly held by DBS Bank Ltd. DBS Bank Ltd. is a wholly-owned subsidiary of DBS Group Holdings Ltd. The percentages of interest immediately before and after the transaction, which is the subject of this notification, are calculated on the basis of 631,365,359 issued units in Manulife US REIT before the Private Placement and 728,368,359 issued units in Manulife US REIT after the Private Placement.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer Immediately after the transaction

No. of ordinary voting shares/units held: 1242547 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.19700000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately after the transaction" is based on 631,365,359 Units in issue as at 30 May 2017.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals) Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 631,365,359 Units in issue as at 30 May 2017. MUSREM has sold the 1,242,547 Units that it is entitled to receive as payment of the base component of its management fee for the period from 1 January 2017 to 31 March 2017 to Manufacturers Life Reinsurance Limited ("MLRL"), a wholly owned subsidiary of The Manufacturers Life Insurance Company, and has in connection with the sale, directed that such Units be issued directly to MLRL instead of MUSREM.

Remarks
MUSREM and JHUSA, manager and property manager of Manulife US REIT, have sold the 1,171,541 Units and 576,588 Units that they are entitled to receive as payment of the base component of management fees and property management fees for the period from 1 October 2016 to 31 December 2016 (both dates inclusive) respectively to MLRL, an indirect wholly owned subsidiary of Manulife Financial Corporation, and have in connection with the sales, directed that such Units be issued directly to MLRL instead of MUSREM and JHUSA. Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 1,171,541 Units at US$0.8282 per Unit; 576,588 Units at US$0.84 per Unit Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 50852488 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 8.08000000 (Deemed Interest)

Manulife Financial Corporation wholly-owns the Sponsor, and is therefore deemed to be interested in the Sponsor's deemed interest in the Units. The Sponsor is a wholly-owned subsidiary of Manulife Financial Corporation which is a publicly listed entity. Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 627,862,659 Units in issue and 629,610,788 Units in issue respectively. Sponsorship Statement: DBS Bank Ltd. was the Sole Financial Adviser and Issue Manager for the initial public offering of Manulife US Real Estate Investment Trust (the "Offering"). DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch were the Joint Bookrunners and Underwriters for the Offering.

Remarks
MUSREM and JHUSA, manager and property manager of Manulife US REIT, have sold the 1,171,541 Units and 576,588 Units that they are entitled to receive as payment of the base component of management fees and property management fees for the period from 1 October 2016 to 31 December 2016 (both dates inclusive) respectively to MLRL, an indirect wholly owned subsidiary of Manulife Financial Corporation, and have in connection with the sales, directed that such Units be issued directly to MLRL instead of MUSREM and JHUSA. Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): 1,171,541 Units at US$0.8282 per Unit; 576,588 Units at US$0.84 per Unit Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 50852488 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 8.08000000 (Deemed Interest)

The Sponsor wholly owns Manulife Holdings (Bermuda) Limited ("MHBL") which in turn wholly owns Manulife Financial Asia Limited ("MFAL"), and is therefore deemed to be interested in MFAL's direct interest in 1 Unit and deemed interest in 48,313,851 Units (prior to the transaction in Part IV of this Form 3) and 50,061,980 Units (after the transaction in Part IV of this Form 3). MFAL (1) indirectly wholly owns Manulife (International) Limited ("MIL") which has a direct interest of 46,781,299 Units and (2) wholly-owns Manufacturers Life Reinsurance Limited ("MLRL") which has a direct interest of 1,532,552 Units (prior to the transaction in Part IV of this Form 3) and 3,280,681 Units (after the transaction in Part IV of this Form 3). The Sponsor indirectly wholly owns John Hancock Life Insurance Company (U.S.A.) ("JHUSA"), and is therefore deemed to be interested in JHUSA's direct interest in 790,507 Units. The Sponsor is a wholly-owned subsidiary of Manulife Financial Corporation which is a publicly listed entity. Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 627,862,659 Units in issue and 629,610,788 Units in issue respectively. Sponsorship Statement: DBS Bank Ltd. was the Sole Financial Adviser and Issue Manager for the initial public offering of Manulife US Real Estate Investment Trust (the "Offering"). DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch were the Joint Bookrunners and Underwriters for the Offering.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer Immediately after the transaction

No. of ordinary voting shares/units held: 1171541 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.18600000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately after the transaction" is based on 629,610,788 Units in issue as at 27 February 2017.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals) Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 629,610,788 Units in issue as at 27 February 2017. MUSREM has sold the 1,171,541 Units that it is entitled to receive as payment of the base component of its management fee for the period from 1 October 2016 to 31 December 2016 to Manufacturers Life Reinsurance Limited ("MLRL"), a wholly owned subsidiary of The Manufacturers Life Insurance Company, and has in connection with the sale, directed that such Units be issued directly to MLRL instead of MUSREM.

Remarks
Acquisition of Securities as part of management, acquisition and/or divestment fees paid by the Listed Issuer Immediately after the transaction

No. of ordinary voting shares/units held: 1532552 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.24400000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately after the transaction" is based on 627,862,659 Units in issue as at 30 November 2016.

Remarks
Disposal of Securities via off-market transaction (e.g. married deals) Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 0.00000000 (Deemed Interest)

Percentage of total number of Units "immediately before the transaction" and "immediately after the transaction" is based on 627,862,659 Units in issue as at 30 November 2016. MUSREM has sold the 1,532,552 Units that it is entitled to receive as payment of the base component of its management fee to Manufacturers Life Reinsurance Limited ("MLRL"), a wholly owned subsidiary of The Manufacturers Life Insurance Company, and has in connection with the sale, directed that such Units be issued directly to MLRL instead of MUSREM.

Remarks
The change in interest of CSAG arises by way of: i. Subsidiaries' purchase of 29,500 Manulife US REIT units; and ii. Return of 15,504,300 Units of the over-allotment option from CS to the unit lender Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): USD 24,092.65 / USD 0.00 Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 19545800 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 3.12460000 (Deemed Interest)

Credit Suisse AG is a wholly owned subsidiary of Credit Suisse Group AG.

Remarks
The change in interest of CSAG arises by way of: i. Subsidiaries' purchase of 29,500 Manulife US REIT units; and ii. Return of 15,504,300 Units of the over-allotment option from CS to the unit lender Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): USD 24,092.65 / USD 0.00 Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 19545800 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 3.12460000 (Deemed Interest)

Credit Suisse AG is a wholly owned subsidiary of Credit Suisse Group AG.

Remarks
The change in interest of CSAG arises by way of: i. Subsidiaries' purchase of 502,300 Manulife US REIT units; and ii. Subsidiary has exercised partially, in respect of 12,645,000 Units on 17 June 2016, which results in reduction in CS' deemed interests of 15,504,300 Units from over-allotment option Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): USD 407,195.53 (Paid)/ USD 0.00 Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 34797700 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 5.56280000 (Deemed Interest)

Credit Suisse AG is a wholly owned subsidiary of Credit Suisse Group AG.

Remarks
The change in interest of CSGAG arises by way of: i. Subsidiaries' purchase of 502,300 Manulife US REIT units; and ii. Subsidiary has exercised partially, in respect of 12,645,000 Units on 17 June 2016, which results in reduction in CS' deemed interests of 15,504,300 Units from over-allotment option Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): USD 407,195.53 (Paid)/ USD 0.00 Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 34797700 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 5.56280000 (Deemed Interest)

Credit Suisse AG is a wholly owned subsidiary of Credit Suisse Group AG.

Remarks
The change in deemed interest of CSSL arises by way of: CSSL has exercised partially on the over-allotment option, in respect of 12,645,000 Units on 17 June 2016, which results in reduction in CS' deemed interests of 15,504,300 Units from over-allotment option Amount of consideration paid or received by Substantial Shareholder/Unitholder (excluding brokerage and stamp duties): USD 162,000.00 (Paid)/ USD 0.00 Immediately after the transaction

No. of ordinary voting shares/units held: 15504300 (Direct Interest); 12645000 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 2.47850000 (Direct Interest); 2.02150000 (Deemed Interest)

The change in direct interest of CSSL arises by way of: CSSL has purchased 200,000 Manulife US REIT units

Remarks
In accordance with the Unit Lending Agreement and price stabilisation exercise, CSSL has, on 17 June 2016, partially exercised the over-allotment option in respect of 12,645,000 Units, solely for the purposes of covering the balance of the Loaned Securities which had been over-allotted in connection with the Offering and which were not covered by purchases made under the price stablilising action. 15,504,300 Units, representing 2.48% of the total number of outstanding Units, have been returned to MIL. Immediately after the transaction

No. of ordinary voting shares/units held: 46781299 (Direct Interest); 0 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 7.48000000 (Direct Interest); 0.00000000 (Deemed Interest)

As stated in the prospectus of Manulife US REIT dated 12 May 2016 ("Prospectus"), concurrently with but separate from the initial public offering of Manulife US REIT (the "Offering"), MIL had subscribed for and received 59,402,700 Units pursuant to a subscription agreement dated 29 April 2016 entered into with Manulife US Real Estate Management Pte. Ltd. (the "Manager"). In addition, prior to the Offering, MIL already held 23,599 Units. Pursuant to the unit lending agreement dated 12 May 2016 between MIL and Credit Suisse (Singapore) Limited (the "Unit Lending Agreement"), Credit Suisse (Singapore) Limited ("CSSL") had borrowed 28,149,300 Units (the "Loaned Securities") from MIL. As a result of the above, MIL did not have a direct interest in the Loaned Securities but had a deemed interest in the Loaned Securities prior to the transaction. The price stabilisation exercise ended on 17 June 2016 and in this respect, CSSL has partially exercised the over-allotment option in respect of 12,645,000 Units, solely for the purposes of covering the balance of the Loaned Securities which had been over-allotted in connection with the Offering and which were not covered by purchases made under the price stabilisation action. Accordingly, 15,504,300 Units, representing 2.48% of the total number of outstanding Units, have been returned to MIL and MIL holds a direct interest of 46,781,299 Units representing 7.48% of the total number of outstanding Units. MIL is a wholly-owned subsidiary of Manulife International Holdings Limited ("MIHL"), which is in turn a wholly-owned subsidiary of Manulife Financial Asia Limited ("MFAL"). MFAL is a wholly-owned subsidiary of Manulife Holdings (Bermuda) Limited ("MHBL") which is in turn a wholly-owned subsidiary of The Manufacturers Life Insurance Company (the "Sponsor"). The Sponsor is a wholly-owned subsidiary of Manulife Financial Corporation which is a publicly listed entity. The percentage of unitholding set out above is calculated on the basis of 625,539,600 outstanding Units. Sponsorship Statement: DBS Bank Ltd. is the Sole Financial Adviser and Issue Manager for the Offering. DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch are the Joint Bookrunners and Underwriters for the Offering.

Remarks
In accordance with the Unit Lending Agreement and price stabilisation exercise, CSSL has, on 17 June 2016, partially exercised the over-allotment option in respect of 12,645,000 Units, solely for the purposes of covering the balance of the Loaned Securities which had been over-allotted in connection with the Offering and which were not covered by purchases made under the price stablilising action. 15,504,300 Units, representing 2.48% of the total number of outstanding Units, have been returned to MIL. Immediately after the transaction

No. of ordinary voting shares/units held: 1 (Direct Interest); 46781299 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 7.48000000 (Deemed Interest)

Prior to the Offering, MFAL already held 1 Unit. MFAL wholly-owns MIHL, and is therefore deemed to be interested in MIHL's deemed interest in the Units. MIL is a wholly-owned subsidiary of MIHL, which is in turn a wholly-owned subsidiary of MFAL. MFAL is a wholly-owned subsidiary of MHBL which is in turn a wholly-owned subsidiary of the Sponsor. The Sponsor is a wholly-owned subsidiary of Manulife Financial Corporation which is a publicly listed entity. The percentage of unitholding set out above is calculated on the basis of 625,539,600 outstanding Units. Sponsorship Statement: DBS Bank Ltd. is the Sole Financial Adviser and Issue Manager for the Offering. DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch are the Joint Bookrunners and Underwriters for the Offering.

Remarks
In accordance with the Unit Lending Agreement and price stabilisation exercise, CSSL has, on 17 June 2016, partially exercised the over-allotment option in respect of 12,645,000 Units, solely for the purposes of covering the balance of the Loaned Securities which had been over-allotted in connection with the Offering and which were not covered by purchases made under the price stablilising action. 15,504,300 Units, representing 2.48% of the total number of outstanding Units, have been returned to MIL. Immediately after the transaction

No. of ordinary voting shares/units held: 0 (Direct Interest); 46781300 (Deemed Interest) As a percentage of total no. of ordinary voting shares/units: 0.00000000 (Direct Interest); 7.48000000 (Deemed Interest)

Manulife Financial Corporation wholly-owns the Sponsor, and is therefore deemed to be interested in the Sponsor's deemed interest in the Units. MIL is a wholly-owned subsidiary of MIHL, which is in turn a wholly-owned subsidiary of MFAL. MFAL is a wholly-owned subsidiary of MHBL which is in turn a wholly-owned subsidiary of the Sponsor. The Sponsor is a wholly-owned subsidiary of Manulife Financial Corporation which is a publicly listed entity. The percentage of unitholding set out above is calculated on the basis of 625,539,600 outstanding Units. Sponsorship Statement: DBS Bank Ltd. is the Sole Financial Adviser and Issue Manager for the Offering. DBS Bank Ltd., China International Capital Corporation (Singapore) Pte. Limited, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Singapore Branch are the Joint Bookrunners and Underwriters for the Offering.