ARENA REIT. — Director's Dealing 2019

Nov 21, 2019

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	20 September 2019

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 Gareth Winter <Winter Family A/C>. MrWinter is a director of the trustee and abeneficiary of the trust.
Date of change	22 November 2019
No. of securities held prior to change	Issued Securities:467,666 Ordinary stapled securitiesLTI Performance rights:261,255Deferred STI rights:Nil
Class	Ordinary stapled securities
Number acquired	120,739 LTI Performance rights33,422 Deferred STI rights
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil

• See chapter 19 for defined terms.

01/01/2011 – Appendix 3Y

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Issued Securities:467,666 Ordinary stapled securitiesLTI Performance rights:381,994Deferred STI rights:33,422
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	LTI Performance rights and Deferred STIrights acquired by Mr Winter as part of hisremuneration and approved bysecurityholders at the 2019 Arena REITAnnual General Meeting held on 22November 2019.

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.

art 2 – ChNote: In the casebe disclosed in th	nge of directors interests in contractsof a company, interests which come within paragraph (ii) of the	nge of directors interests in contractsof a company, interests which come within paragraph (ii) of the	definition of “notifiable inter	definition of “notifiable inter	est of a director” should
	s part.
Detail of co	ntract	Not applicable
Nature of in	terest	Not applicable
Name of re(if issued s	gistered holderecurities)	Not applicable
Date of cha	nge	Not applicable
No. and clainterest relNote: Details arelation to whic	ss of securities to whichated prior to change	Not applicable
	re only required for a contract inh the interest has changed
Interest acq	uired	Not applicable
Interest dis	posed	Not applicable
Value/ConsNote: If considand an estimate	iderationeration is non-cash, provide detailsd valuation	Not applicable
Interest aft	er change	Not applicable
Part 3 –+Cl
	osed period
Were theabove tradclearance w	interests in the securities or contracts ded during a+closed period where prior		etailedwritten	No
	as required?
If so, wasto proceed	prior written clearance provided to allow th		e trade	Not applica	ble
	during this period?
If prior writ	ten clearance was provided, on what date w		as this	Not applica	ble
provided?

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?

If so, was prior written clearance provided to allow the trade Not applicable to proceed during this period?

If prior written clearance was provided, on what date was this Not applicable provided?

• See chapter 19 for defined terms.

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