ABACUS GROUP — Capital/Financing Update 2021

Mar 10, 2021

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ASX Release

CHAB acquires 241 Adelaide Street Brisbane 11 March 2021

Charter Hall Limited ACN 113 531 150

Charter Hall Funds Management Limited ABN 31 082 991 786 Level 20, No.1 Martin Place Sydney NSW 2000 GPO Box 2704 Sydney NSW 2001 T +61 2 8651 9000 F +61 2 9221 4655 www.charterhall.com.au/

Charter Hall Group (“Charter Hall”) (ASX:CHC) and Abacus Property Group (“Abacus”) (ASX:ABP) (together “the Consortium”), announces that CHAB Office Trust (“CHAB”) (an entity owned by the Consortium) has entered into conditional contracts to acquire the leasehold asset at 241 Adelaide Street, Brisbane, for $31.5 million, from Australian Unity Office Fund (ASX:AOF).

The Consortium has simultaneously entered into a conditional contract with the Brisbane Club to acquire the freehold interest, for consideration of $32 million, subject to a lease back of up to 5 years plus options. Both transactions are expected to settle simultaneously during 2021, once conditions precedent to settlement have been achieved.

Abacus and Charter Hall are expected to utilise existing liquidity to fund their respective equity investments in addition to asset level non-recourse debt for the property.

The property comprises approximately 10,107m2 of net lettable area plus car parking for 85 cars, located on the corner of Adelaide Street and the Anzac Square public park open space, providing a strategically core located asset, subject to a minimum 5 year lease back term from the Brisbane Club.

Steven Sewell, Managing Director of Abacus, and David Harrison, Managing Director and Group CEO of Charter Hall, commented: “The acquisition of this quality building in a prime location in Brisbane CBD is a great opportunity for the Consortium to implement active asset management plans and capabilities to drive the returns from the asset.”

Announcement Authorised by the Managing Director and Group CEO

Charter Hall Group (ASX: CHC)

With over 29 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, industrial & logistics, retail and social infrastructure.

Operating with prudence, we've carefully curated a $46.4 billion diverse portfolio of 1,395 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 $6.6 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.

For further enquiries, please contact For investor enquiries, please contact For media enquiries, please contact David Harrison Philip Cheetham Adrian Harrington Managing Director and Group CEO Head of Listed Investor Relations Head of Capital and Product Development Charter Hall Charter Hall Charter Hall T +61 2 8651 9142 T +61 403 839 155 T + 61 410 489 072 david.harrison@charterhall.com.au philip.cheetham@charterhall.com.au adrian.harrington@charterhall.com.au

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