ARENA REIT. — Director's Dealing 2016

Jan 10, 2016

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of 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 30/09/01 Amended 01/01/11

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.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Gareth Winter
Date of last notice	17 December 2014

Part 1 - Change of director’s relevant interests in securities

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.

	Direct or indirect interest	Direct or indirect interest	Direct	Direct	Direct	Direct	Direct	Direct
	Nature of indir(including regN Pid d	ect interestistered holder)il f h i ii i h l
	ote: rove etinterest.	s o te crcumstances gvng rse to te reevant
	Date of chang	e		19 Novembe		r 2015
	No. of securiti	es held prior to change		75,000 Stap70,213 Perf36,066 Reco		led securitieormance Riggnition Righ	s held direhtsts
	Cl		Ordinary Stapled Securities
	ass				rdinary Stapled Securities
	Number acqui	red	1		14,478 Performance Rights
	Number dispo	sed	N		il
	Value/ConsideNote: If consider	rationation is non-cash, provide details and estimated	N		il
valuation	valuation

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

No. of securities held after change Issued Securities: 75,000 ordinary stapled securities held directly Performance rights: 184,691 ordinary stapled securities Recognition rights: 36,066 ordinary stapled securities

Nature of change 114,478 Performance Rights were acquired

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in by Mr Winter as part of his FY16

buy-back remuneration in accordance with the Arena REIT LTI Plan and approved by security holders at the 2015 Arena REIT Annual General Meeting held on 19 November 2015.

Part 2 – Change of 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.

==> picture [434 x 317] intentionally omitted <==

----- Start of picture text ----- Detail of contractNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuationInterest after change----- End of picture text -----

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed No above traded during a[+] closed period where prior written clearance was required?

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

If so, was prior written clearance provided to allow the tradeto proceed during this period?	Not applicable
If prior written clearance was provided, on what date was thisprovided?	Not applicable

• See chapter 19 for defined terms.

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