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STARHILL GLOBAL REIT

This Annual Report for the financial year ended 30 June 2017 has

been prepared by YTL Starhill Global REIT Management Limited

(Company Registration No. 200502123C) as the Manager of Starhill

Global REIT. This report does not contain investment advice nor is it

an offer to invest in units of Starhill Global REIT.

Whilst every care has been taken in relation to the accuracy of

this report, no warranty is given or implied. This report has been

prepared without taking into account the personal objectives,

financial situation or needs of particular individuals. Before acting,

we recommend that potential investors speak with their financial

and/or other professional advisers.

The value of Starhill Global REIT units (“Units”) and the income

derived from them may fall or rise. The Units are not obligations of,

deposits in, or guaranteed by, the Manager or any of its affiliates.

An investment in Units is subject to investment risk, including

possible delays in repayment, or loss of income or principal invested.

The Manager and its affiliates do not guarantee the performance

of Starhill Global REIT or the repayment of capital from Starhill

Global REIT or any particular rate of return. Investors have no right to

request the Manager to redeem their Units while the Units are listed.

It is intended that unitholders of Starhill Global REIT may only deal

in their Units through trading on the SGX-ST. Listing of the Units on

SGX-ST does not guarantee a liquid market for the Units.

This document is for information only and does not constitute an

invitation or offer to acquire, purchase or subscribe for the Units.

The past performance of Starhill Global REIT is not necessarily

indicative of the future performance of Starhill Global REIT. This

document may contain forward-looking statements that involve

risks and uncertainties. Actual future performance, outcomes and

results may differ materially from those expressed in forward-

looking statements as a result of a number of risks, uncertainties

and assumptions. Representative examples of these factors include

(without limitation) general industry and economic conditions,

interest rate and foreign exchange trends, cost of capital and

capital availability, competition from similar developments, shifts

in expected levels of property rental income, changes in operating

expenses (including employee wages, benefits and training costs),

property expenses and government and public policy changes.

Investors are cautioned not to place undue reliance on these

forward-looking statements, which are based on the Manager’s

view of future events.

a C2 Design Studio production

This annual report is printed

on environmentally-friendly

paper using soy ink.