ARENA REIT. — Director's Dealing 2017

Sep 7, 2017

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	Dennis Wildenburg
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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Mr Dennis Wildenburg and Mrs JudyWildenburg <Vafovi Super Fund A/C>. DennisWildenburg is a trustee and beneficiary of thesuper fund.
Date of change	5 September 2017
No. of securities held prior to change	150,000 Arena REIT stapled securities
Class	Ordinary stapled securities
Number acquired	4,079
Number disposed	nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$8,280.37
No. of securities held after change	154,079 Arena REIT stapled securities

• See chapter 19 for defined terms.

01/01/2011 – Appendix 3Y

LexisNexis Service 12

Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Securities acquired through participation inthe Arena REIT Security Purchase Plan,released to the ASX on 7 August 2017

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.

			Detail of contract	Not applicable	Not applicable
			Nature of interest	Not applicable
			Name of registered holder(if issued securities)	Not applicable
			Date of change	Not applicable
			No and class of securities to which	Not alicable
			.interest related prior to changeNote: Details are only required for a contract in	pp
			relation to which the interest has changed
			Interest acquired	Not applicable
			Interest disposed	Not applicable
			Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	Not applicable
			Interest after change	Not applicable

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	Yes
If so, was prior written clearance provided to allow the tradeto proceed during this period?	Yes
If prior written clearance was provided, on what date was thisprovided?	8 August 2017

• See chapter 19 for defined terms.

LexisNexis Service 12

01/01/2011 – Appendix 3Y

Page 2