ABACUS GROUP — Capital/Financing Update 2018

Apr 16, 2018

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ASX ANNOUNCEMENT

Abacus and Wing Tai acquire 464 St Kilda Road for $95.38 million

Abacus Property Group (ASX: ABP) and Wing Tai Holdings Limited (SGX: W05) through their respective subsidiary company have agreed to acquire 464 St Kilda Road, Melbourne VIC as tenants in common in equal shares. The property is anticipated to settle by the end of May 2018.

The total consideration for the acquisition is $95.38 million, excluding transaction costs, reflecting c.$6,800 per square metre of net lettable area (NLA). The property is in a prominent position, central to the St Kilda Road commercial precinct and well serviced by local transport including buses and trams. Known as VACC House, the property is an 8 level commercial office building comprising 13,827sqm of NLA. The property is fully leased, with a sale and lease back of c.30% of NLA to the owner, Victorian Automobile Chamber of Commerce, and has a weighted average lease expiry of 2.4 years. The property also provides for 299 car parking spaces on site and at a neighbouring property.

The property is a strategic long term investment in a well performing market. The property has strong fundamentals, including location, excellent natural light, views, a good car parking ratio and high ceilings, making it attractive to future tenants. The property will also be aided by the Metro Rail Project, which will bring a train service to St Kilda Road for the first time, and likely to drive higher rents and tenant demand. This project, due for completion in 2026, includes the Domain Station, which is 900 metres from the property.

This acquisition supports our city fringe thematic for assets that should provide significant longer term growth prospects for reasons including increased accessibility to the CBD driven by elevated levels of infrastructure spend.

17 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

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