ABACUS GROUP — Capital/Financing Update 2019

Nov 17, 2019

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ASX Release

18 November 2019

CHAB acquisition of AOF not proceeding

Charter Hall Group (“Charter Hall”) and Abacus Property Group (“Abacus”) (together “the Consortium”), refers to its previously announced proposal, pursuant to which CHAB Office Pty Limited acting as trustee for the CHAB Office Trust (“CHAB”) (an entity owned by the Consortium) would acquire all of the units in Australian Unity Office Fund (ASX: AOF) by way of a trust scheme (“Scheme”).

The Consortium notes that at the AOF unitholder Scheme meeting today, the Scheme resolutions were not passed by the requisite majorities and therefore CHAB’s acquisition of AOF will not be proceeding.

Steven Sewell, Managing Director of Abacus, and David Harrison, Managing Director and Group CEO of Charter Hall, commented: “It is disappointing that, despite over 60% of eligible votes cast being in favour of the resolutions, the Scheme will not proceed and AOF unitholders have lost the opportunity to receive $3.04 per unit cash consideration.”

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Abacus Property Group (ASX: ABP)

Abacus is a diversified Australian REIT with an investment portfolio concentrated in the Office and Self Storage sectors. We invest capital in real estate opportunities to deliver superior long term returns and maximise securityholder value.

Abacus’ key focus is to be a strong asset backed, annuity style business model where capital is directed towards assets that provide potential for enhanced income growth and ultimately create value. Our people, market insight and repositioning capability together with strategic partnering are the key enablers of our strategy.

Abacus was established in 1996 and listed on the ASX in 2002. It is included in the S&P/ASX 200 index and has a market capitalisation of c.$2.5 billion, with a single corporate office in Sydney, Australia.

Charter Hall Group (ASX: CHC)

With over 28 years’ experience in property investment and funds management, we’re one of Australia’s leading fully integrated property groups. We use our property expertise to access, deploy, manage and invest equity across our core sectors – office, retail, industrial and social infrastructure.

Operating with prudence, we’ve carefully curated a $34.6 billion diverse portfolio of over 840 high quality, long leased properties. Partnership and financial discipline are at the heart of our approach. Acting in the best interest of customers and communities, we combine insight and inventiveness to unlock hidden value. Taking a long term view, our $6.5 billion development pipeline delivers sustainable, technologically enabled projects for our customers.

The impacts of what we do are far-reaching. From helping businesses succeed by supporting their evolving workplace needs, to providing investors with superior returns for a better retirement, we’re powered by the drive to go further.

Abacus Property Group

For further information, please contact

Cynthia Rouse

Head of Investor Relations Abacus Property Group T +61 2 9253 8673 crouse@abacusproperty.com.au

Charter Hall Group

For investor enquiries, please contact

Philip Cheetham

Head of Listed Investor Relations Charter Hall Group T +61 2 8651 9214 philip.cheetham@charterhall.com.au

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