ABACUS GROUP — Capital/Financing Update 2024

Jan 22, 2024

ASX RELEASE

23 JANUARY 2024

DIVESTMENT OF NON-CORE ASSETS

Abacus Group (ASX:ABG) today announced that is has exchanged unconditional contracts to dispose of two non-core Commercial assets for a net consideration of approximately $107 million in line with their 31 December 2023 draft valuations. The disposals reflect a 4.5% discount to the 30 June 2023 carrying values.

The assets include the divestment of a 100% interest in 63 Ann Street, Surry Hills NSW to a private investor (expected to settle in February 2024) and Abacus’ remaining 50% interest in Ashfield Mall, Ashfield NSW to Mintus Pty Ltd (expected to settle no later than April 2024).

Settlement proceeds will be utilised to reduce debt, with proforma gearing expected to reduce by 1.4%[1] .

Abacus Group’s Managing Director Steven Sewell commented "We continue to constantly review the income and capital returns from our portfolio and remain open to disposing assets where we consider it appropriate."

Investor & Media Enquiries

Cynthia Rouse Executive General Manager Investor Relations and Corporate Communications +61 2 9253 8600

Authorised for release by Belinda Cleminson, Company Secretary ASX:ABG

1 Includes $107m of proceeds from non-core assets and payment of the HY24 distribution to be paid on or about 29 February 2024.

Abacus Group - Level 13, 77 Castlereagh Street, Sydney NSW 2000 AUSTRALIA +61 2 9253 8600 Abacus Group Holdings Limited ACN 080 604 619 | Abacus Funds Management Limited ACN 007 415 590 AFSL 227819 as Responsible Entity of Abacus Trust ARSN 096 572 128 and Abacus Income Trust ARSN 104 934 287 | Abacus Group Projects Limited ACN 104 066 104

abacusgroup.com.au