ABACUS GROUP — Capital/Financing Update 2018

Apr 26, 2018

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ASX ANNOUNCEMENT

Abacus confirms asset divestments of $138.6 million

Abacus Property Group (ASX: ABP) has exchanged contracts for the divestment of three individual properties, or interests in properties, across its diversified investment portfolio.

As flagged at the half year results announcement, Abacus’ future focus in retail is on inner suburban, super convenience retail shopping centres, and therefore it was assessed that Bacchus Marsh, in regional Victoria, was marketed for divestment. After a short campaign, with CBRE advising, contracts have been exchanged with a private investor, to divest Bacchus Marsh Village Shopping Centre, for $61.65 million, with settlement due by the end of July 2018.

In the office portfolio, Abacus can confirm the exercise of the call option for the remaining 50% of 201 Pacific Highway, St Leonards NSW, again previously highlighted in February 2018. Settlement is anticipated in May 2018. Abacus and its equal co-investment partner had agreed to divest their combined 100% interest in 201 Pacific Highway for $171.6 million to proceed in two tranches of 50% interests to be settled in December 2017 and by June 2018. The joint owners agreed to divest the asset following an off-market approach by an adjoining land owner.

And finally, in its industrial portfolio, following another off-market approach, Abacus confirms the divestment of 169 Australis Drive, Derrimut VIC for $34.0 million. Settlement is due to take place in June 2018.

Total proceeds of $138.6 million will be utilised to reduce debt in the short term.

27 April 2018

Investor enquiries

Neil Summerfield Head of Investor Relations (+61) 2 9253 8640 www.abacusproperty.com.au

About Abacus

Abacus Property Group is a diversified property group that specialises in investing in core plus property opportunities across Australia's commercial property markets. Abacus was established in 1996 and listed on the ASX in November 2002. Abacus has achieved a successful track record of acquiring property based assets and actively managing those assets to enhance income and capital growth. Abacus has a market capitalisation of $2.0bn.

Abacus Group Holdings Limited ACN 080 604 619 | Abacus Group Projects Limited ACN 104 066 104 Abacus Funds Management Limited ACN 007 415 590 | Abacus Property Services Pty Limited ACN 050 739 001 Abacus Storage Funds Management Limited ACN 109 324 834 | Abacus Storage Operations Limited ACN 112 457 075

Level 34, Australia Square, 264-278 George St, Sydney NSW 2000