ARENA REIT. — Capital/Financing Update 2013

Dec 2, 2013

ASX Announcement 3 December 2013

Settlement of 11 childcare centres

Arena Investment Management Limited ( Arena ) as the responsible entity of Arena REIT ( ARF ), refers to its earlier announcement dated 6 November 2013 which provided details in relation to the acquisition of 14 childcare centres to be leased to Affinity Education Group Limited ( Affinity ) on a long term basis for a total purchase price of $23.98 million.

Arena today confirmed that ARF had settled the acquisition of the first tranche of 11 childcare centres ( Properties ) for a total purchase price of $17.15 million. The remaining 3 centres are scheduled to be settled later this month.

The key impacts of the childcare centre acquisitions are detailed in the announcement dated 6 November 2013 and include an upgrade in the forecast earnings for ARF by 0.4 cents per unit on a pro forma annualised basis.

Peter Hulbert Company Secretary Arena Investment Management Limited

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About Arena REIT

Arena REIT is an S&P/ASX 300 listed real estate investment trust with a strategy to invest in sectors such as childcare, healthcare, education and government tenanted facilities leased on a relatively long term basis.

Media enquiries:

Bryce Mitchelson Joint Managing Director +61 408 275 375 bryce.mitchelson@arenainvest.com.au

Investor enquiries:

Arena Investor Services 1800 008 494 (Freecall within Australia) +61 3 9093 9017 info@arenainvest.com.au

Arena Investment Management Limited ACN 077 235 879 Responsible entity of Arena REIT (ASX:ARF) (ARSN 106 891 641)

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71 Flinders Lane Locked Bag 32002 Collins Street East T +61 3 9093 9000 Freecall Melbourne VIC 3000 Melbourne VIC 8003 F +61 3 9093 9093 1800 008 494 www.arenainvest.com.au info@arenainvest.com.au

Arena REIT (ASX:ARF) ASX Announcement 3 December 2013

Disclaimer

This announcement contains certain forward-looking statements along with certain forecast financial information. The words “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “outlook”, “upside”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan”, and other similar expressions are intended to identify forward- looking statements. The forward-looking statements are made only as at the date of this announcement and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Arena and its directors. Such statements reflect the current expectations of Arena concerning future results and events, and are not guarantees of future performance. Actual results or outcomes for ARF may differ materially from the anticipated results, performance or achievements expressed, projected or implied by these forward-looking statements or forecasts. Other than as required by law, although they believe that there is a reasonable basis for the forward-looking statements, neither Arena nor any other person (including any officer or employee of Arena or any related body corporate) gives any representation, assurance or guarantee (express or implied) that the occurrence of these events, or the results, performance or achievements expressed in or implied in any forward-looking statements in this announcement will actually occur and you are cautioned not to place undue reliance on such forward-looking statements. Factors (which could be unknown or unpredictable or result from a variation in the assumptions underlying the forecasts) could cause actual results to differ materially from those expressed, implied or projected in any forward-looking statements or forecast.

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