• Sponsor will be seeking EHT toreconsider decision to deny request to hold a further EGM
• Unitholders of a publicly listedcompany are well within their rights to requisition the Board to convene an EGMfor considering additional resolutions
• Operationaluncertainties are not grounds for denying unitholders' requests for an EGM

SINGAPORE- MediaOutReach - 24 December 2020 - Urban Commons (UC), the Los Angeles-based real estate investment and development firm andSponsor of EagleHospitality Trust (EHT), will be seeking EHT to reconsider its decision to denythe request to hold a further extraordinary generalmeeting (EGM) to vote on a rights issue and a proposal to retain or reappointthe current manager of Eagle Hospitality REIT (EH-REIT).

UChopes that EHT will respect the democratic process that supports unitholders' rights.Unitholders of a publicly listed company in Singapore are well within theirrights to requisition the Board of Directors to convene a further EGM as theysee fit.

"The whole point of an EGM is to allow unitholdersto vote on key issues that require their approval. It is the unitholders whoown shares in EHT, and they are the most appropriate persons to decide what is intheir best interests. Operational uncertainties are not grounds for rejecting arequest to call for a further EGM," said Mr Howard Wu, Founder and Principal atUC.

"UC's proposal includes the elements of acash injection, refinancing plan, and several amicable resolutions which manymajor unitholders supported. SC Capital's proposal, on the other hand, waschosen without considering the potential risks and implications which will notbenefit the unitholders. We strongly urge all interested parties to give us achance to work together to resolve the outstanding issues for the good of all unitholders,"added Mr Wu.

UC's blueprint to rescue the REIT focuseson the following steps:

1.    Refinance the defaulted debt quickly, as we already have a term sheet inplace.

2.    Raise the minimum amount to sustain the REIT and to minimise dilutionsto unitholders which we believe is lesser dilution than SC Capital's proposal.

3.    Come up with an amicable solution to restart and sustain the operationsof the REIT.

Theissuer is solely responsible for the content of this announcement.

About Urban Commons

UrbanCommons is a Los Angeles-based real estate investment and development firm witha successful track record of developing, repositioning, and rebranding assetsthroughout the United States. The company focuses on improving under-managedand underutilized assets by developing innovative solutions that promoteoptimal economic, social, and environmental returns.

Since itsfounding in 2008, Urban Commons has owned, operated and developed a variety ofreal estate properties including several dozen hotels, apartments, retail,office, and senior care, throughout the United States including the developmentof nearly one million square feet of commercial retail space.

For moreinformation on Urban Commons, please visit: https://urban-commons.com/