ABACUS STORAGE KING — Capital/Financing Update 2023

Aug 3, 2023

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NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

ASX RELEASE

4 AUGUST 2023

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SETTLEMENT OF OFFER AND SATISFACTION OF CONDITIONS FOR CONDITIONAL MARKET

Abacus Storage King (ASX:ASK) (“ ASK ”) is pleased to advise that the conditions for the conditional market, as described in the Transaction Booklet dated 19 June 2023 and made available to Abacus Property Group[1] Securityholders on 27 June 2023 (“ Transaction Booklet ”)[2] , have been satisfied. The conditions for the conditional market were:

• the De-stapling Implementation Steps due to occur on the De-stapling Implementation Date of Thursday, 3 August 2023 having occurred; and

• the issue of new ASK securities[3] to successful Applicants under the Offer on the Allotment Date of Friday, 4 August 2023.

The number of ASK securities on issue following the issue of new ASK securities under the ASK Stake Acquisition and the Offer is 1,314,102,962.

Today therefore is expected to be the last day of trading of ASK securities on a conditional and deferred settlement basis.

Trading of ASK securities is expected to commence on a normal (T+2) settlement basis from Monday, 7 August 2023.

Holding statements for ASK securities and (where applicable) any refunds under the Offer are expected to be despatched to ASK securityholders on Monday, 7 August 2023.

Settlement of all on-market trades of ASK securities conducted on a conditional and deferred settlement basis, and the first settlement of trades of ASK securities conducted on a (T+2) basis, are expected to occur on Wednesday, 9 August 2023.

• 1 Abacus Property Group was a stapled group that included Abacus Group Holdings Limited (ABN 31 080 604 619), Abacus Group Projects Limited (ABN 11 104 066 104), Abacus Storage Operations Limited (ACN 112 457 075) (" ASOL ”), Abacus Income Trust (ARSN 104 934 287), Abacus Trust (ARSN 096 572 128) and Abacus Storage Property Trust (ARSN 111 629 559) (" ASPT ”) and their respective controlled entities.

2 A copy of the Transaction Booklet is included in the pre-quotation disclosure of ASK released on ASX on Monday, 31 July 2023.

• 3 Each consisting of a fully paid ordinary share in ASOL stapled to a fully paid ordinary unit in ASPT.

Abacus Storage King - Level 13, 77 Castlereagh Street, Sydney NSW 2000 AUSTRALIA +61 2 9253 8600 Abacus Storage Funds Management Limited ACN 109 324 834 ASFL 277357 as Responsible Entity of Abacus Storage Property Trust ARSN 111 629 559 | Abacus Storage Operations Limited ACN 112 457 075.

abacusgroup.com.au

ASX RELEASE

General

Capitalised terms used and not defined in this announcement have the meaning given to them in the Transaction Booklet.

END

Investor & Media Enquiries

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

Authorised for release by Lucy Spenceley, Company Secretary ASX:ASK

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ASX RELEASE

IMPORTANT NOTICE

Information

This announcement is subject to change without notice and ASK may in its absolute discretion, but without being under any obligation to do so, update or supplement the information in this announcement. The information in this announcement should be read in conjunction with ASK’s other periodic and continuous disclosure announcements lodged with ASX, which are available at www.asx.com.au.

To the maximum extent permitted by law, ASK and its related bodies corporate and affiliates, and any of each of their respective securityholders, directors, officers, employees, partners, consultants, contractors, agents and advisers (together, the “ Beneficiaries ”) make no representation or warranty (express or implied) as to the currency, accuracy, reliability, reasonableness or completeness of the information in this announcement and disclaim all responsibility and liability for the information (including without limitation, liability for fault or negligence).

Not an offer or recommendation

This announcement is for information purposes only and is not a prospectus, product disclosure statement or other disclosure document or offering document under Australian law or any other law (and will not be lodged with the Australian Securities and Investments Commission). This announcement is not and should not be considered an offer or an invitation or solicitation to subscribe for or acquire securities or any other financial products, including in the United States.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The securities referred to in this announcement have not been, and will not be, registered under the under the U.S. Securities Act of 1933, as amended (the “ U.S. Securities Act ”) or the securities laws of any state or other jurisdiction of the United States. The securities may not be offered or sold, directly or indirectly, in the United States, except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and the applicable securities laws of any state or other jurisdiction of the United States.

Not financial product advice

This announcement does not constitute or provide financial advice, financial product advice or investment advice (nor tax, accounting or legal advice) nor is it a recommendation to subscribe for or acquire financial products or securities and does not and will not form any part of any contract for the subscription or acquisition of financial products or securities. This announcement has been prepared without taking into account the specific objectives, financial situation or needs of individual investors. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek appropriate advice, including financial, legal and taxation advice appropriate to their jurisdiction and circumstances.

Forward looking statements

Some of the statements appearing in this announcement may be in the nature of forward looking statements. Forward looking statements or statements of intent in relation to future events in this

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ASX RELEASE

announcement should not be taken to be a forecast or prediction that those events will occur. Forward looking statements generally may be identified by the use of forward looking words such as “forecast”, “target”, “outlook”, “continue”, “predict”, “believe”, “aim”, “expect”, “anticipate”, “intending”, “foreseeing”, “likely”, “should”, “planned”, “may”, “estimate”, “potential”, or other similar words. Similarly, statements that describe the objectives, plans, goals or expectations of ASK are or may be forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industry in which ASK operates, as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets.

Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement and deviations are both normal and to be expected. None of ASK or its Beneficiaries, or any person named in this announcement or involved in the preparation of this announcement makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward looking statement, or any events or results expressed or implied in any forward looking statement. Accordingly, you are cautioned not to place undue reliance on those statements.

The forward looking statements in this announcement reflect views held only at the date of this announcement. Subject to any continuing obligations under the ASX Listing Rules or the Corporations Act, ASK, its directors and officers disclaim any obligation or undertaking to distribute after the date of this announcement, any updates or revisions to any forward looking statements to reflect any change in expectations in relation thereto or any change in events, conditions or circumstances on which any such statement is based.

Disclaimer

No person is authorised to give any information or to make any representation, in connection with the Proposal that is not contained in this announcement. Any information or representation that is not in this announcement may not be relied on as having been authorised by ASK. Except as required by law, and only to the extent so required, none of ASK or its respective Beneficiaries or Barrenjoey Advisory Pty Limited or Morgan Stanley Australia Limited as financial advisers (“ Financial Advisers ”) or their respective Beneficiaries nor any other person, warrants or guarantees the future performance of ASK or the repayment of capital, or any return on any investment made pursuant to this announcement.

The Financial Advisers have not authorised, permitted or caused the issue, lodgement, dispatch or provision of this announcement and do not make or purport to make any statement in it and there is no statement in this announcement which is based on any statement by a Financial Adviser. The Financial Advisers and their respective Beneficiaries, to the maximum extent permitted by law, expressly disclaim all liabilities in respect of, make no representation regarding, and take no responsibility for, any part of this announcement and make no representation or warranty (express or implied) as to the currency, accuracy, reliability, reasonableness or completeness of this announcement.

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