ARENA REIT. — Capital/Financing Update 2013

Dec 8, 2013

No: 649/13

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ASX Circular

Date: 9 December 2013

Key topics

1. Arena Group

2. ASX Code: ARF

3. Quotation expected to commence at 10. 00 am AEDT on Wednesday, 11 November 2013 on a deferred settlement basis.

Reading List

Client Advisers Compliance Managers DTR Operators Institutions Office Managers Operations Managers (back office) Share Registries

Authorised by

Arena REIT – Stapling Proposal – admission to the official list of Sydney Healthcare Trust (to be renamed Arena REIT no 2) and the commencement of official quotation of Arena Group

On 1 November 2013, Arena Investment Management Limited announced a proposal to staple the existing listed entity Arena REIT (the “Fund”) to Sydney Healthcare Trust (to be renamed Arena REIT no 2) (the “Trust”) (“Stapling Proposal”) to form an ASX listed stapled group (“Stapled Group”).

After the implementation of the Stapling Proposal, the units of the Fund will be stapled to the units of the Trust to form the new stapled securities (the “New Stapled Securities”). It is expected that the Trust will be admitted to the official list of ASX Limited on Wednesday, 11 December 2013.

Official quotation of the New Stapled Securities will commence at 10: 00 am +/- 15 secs A.E.D.T. on Wednesday, 11 December 2013 on a deferred settlement basis.

233,362,597 New Stapled Securities fully paid

Quoted Securities:

ASX Code: ARFDA

It is expected that the New Stapled Securities ASX code will revert to ARF on Thursday,19 December 2013, with the commencement of normal (T+3) settlement

Kate Kidson

Contact

Kate Kidson

ASX Limited ABN 98 008 624 691 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215

Time: 10:00 am +/- 15 secs AEDT Date: 11 December 2013

ASX Trade Abbreviation: ARENA GRP ISIN:

During the deferred settlement trading period the ISIN of the New Stapled Securities will be: AU0000ARFDA8

At the commencement of normal (T+3) trading the ISIN of the New Stapled Securities will return to: AU000000ARF6

Home Branch: Melbourne Industry classification: 4040 - Real Estate

Internet: http://www.asx.com.au

No responsibility is accepted for any inaccuracies contained in the matter published.

No: 649/13

Registered Office: 71 Flinders Lane, Melbourne VIC 3000 Company Secretary: Peter Hulbert Share Registry: Boardroom Pty Ltd 7/207 Kent Street, Sydney, NSW 2000 Phone:- 1300 737 760 Fax:- 1300 653 459 Balance Date: 30 June CHESS: Participating. The Trust will also operate an issuer sponsored sub-register. State of Incorporation: New South Wales Distribution policy: Refer page 99 of the Product Disclosure Statement dated 1 November 2013. Activities: Investment in real estate. ASX restricted securities: None Securities not quoted: n/a

The indicative timetable in relation to the Stapling Proposal is as follows.

Indicative Date	Event
Tuesday, 10 December 2013	Effective Date of Stapling Proposal Last day of trading in Existing Fund units (ASX Code: ARF)
Wednesday, 11 December 2013	Trust admitted to the official list New Stapled Securities commence trading on ASX on a deferred settlement basis (ASX Code: ARFDA)
Tuesday, 17 December 2013	Stapling Record Date
Wednesday, 18 December 2013	Stapling commencement date. Last day of deferred settlement trading in New Stapled Securities (ASX Code: ARFDA)
Thursday, 19 December 2013	New Stapled Securities commence trading on a normal T+3 settlement basis (ASX Code: ARF)

For further information please refer to Arena REIT and Sydney Healthcare Trust’s Product Disclosure Statement dated 1 November 2013 or call the Arena Information Line on 1800 008 494 Monday to Friday between 8.30 am and 5.00 pm (AEDT).