ARENA REIT. — Director's Dealing 2014

Dec 16, 2014

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	Arena REIT (comprising Arena REIT Limited, Arena REIT No. 1 and Arena REIT No. 2)
ABN	Arena REIT Limited ACN 602 365 186
	Arena REIT No. 1 ARSN 106 891 641
	Arena REIT No. 2 ARSN 101 067 878

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Gareth Bruce Winter
Date of appointment	12 December 2014

Part 1 - Director’s relevant interests in securities of which the director is the registered holder In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

75,000 ordinary stapled securities.

• See chapter 19 for defined terms.

11/3/2002

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Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interestNote: Provide details of the circumstancesgiving rise to the relevant interest.	Number & class of Securitiesnil

Part 3 – Director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	Refer to the description of the LTI Plan containedin section 8.12 of the Arena REIT Notice ofMeeting dated 4 November 2014 and lodged withASXon thatdate.
Nature of interest	Each FY15 Performance Right and FY15Recognition Right will entitle the holder to 1stapled security upon vesting, the occurrence andextent of which is subject to satisfaction of therelevant conditions described in section 8.12 of theArena REIT Notice of Meeting dated 4 November2014andlodgedwith ASXonthat date.
Name of registered holder(if issued securities)	N/a
No. and class of securities to whichinterest relates	70,213 FY15 Performance Rights36,066 FY15 Recognition Rights

• See chapter 19 for defined terms.

11/3/2002

Appendix 3X Page 2