Emirates Reit Sukuk Ltd (5.125% - 2022): 14 December 2017

The trust certificates of Emirates REIT Sukuk Limited confer on the holders of the Certificates from time to time the right to receive certain payments arising from an undivided ownership interest in the assets of a trust declared by the Trustee pursuant to the Declaration of Trust over the Trust Assets and the Trustee will hold such Trust Assets upon trust absolutely for the Certificate holders pro rata according to the face amount of Certificates held by each Certificate holder.

Emirates REIT is a closed-ended investment company with unlimited duration and was established in the DIFC by the REIT Manager in November 2010. The principal shareholders of Emirates REIT as at 30 September 2017 comprised: Dubai Islamic Bank PJSC (15.7%), Vintage Bullion (12%), Dubai Properties Group (10%) and the UAE Global Pension and Social Security Authority (5%). Emirates REIT completed its first real estate asset investment on 27 June 2011 when it acquired Building 24 in Dubai Internet City. As at 30 September 2017 the Portfolio consisted of 10 Properties, all of which are located in the Emirate of Dubai, consisting of a mixture of commercial, educational, retail and car parking properties.

The transaction structure relating to the Certificates has been approved by the Shari'a Supervisory Board of the Obligor, the Shariah Supervisory Committee of Standard Chartered Bank and the Shariah Board advisers to Dubai Islamic Bank PJSC. Prospective Certificate holders should not rely on such approvals in deciding whether to make an investment in the Certificates and should consult their own Shari'a advisers as to whether the proposed transaction described in such approvals is in compliance with their individual standards of compliance with Shari'a principles.