Argosy Property Limited — Director's Dealing 2021

May 26, 2021

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Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and Name of listed issuer: Date this disclosure made: Date of last disclosure: Director or senior manager giving disclosure Full name(s): Name of listed issuer: Name of related body corporate (if applicable): Position held in listed issuer:

Argosy Property Limited 26-May-21 9-Apr-21 Peter Donald Mence Argosy Property Limited CEO

Summary of acquisition or disposal of relevant interest (excluding specified derivatives)

Class of affected quoted financial products: Nature of the affected relevant interest(s):

For that relevant interest-

Number held in class before acquisition or disposal: Number held in class after acquisition or disposal: Current registered holder(s): Registered holder(s) once transfers are registered: Details of transactions giving rise to acquisition or disposal Total number of transactions to which notice relates:

Ordinary shares

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----- Start of picture text ----- (a) Beneficial(b) 2018 PSRs(c) 2021 PSRs(a) 104,143(b) 238,521(c) Nil(a) 308,030(b) Nil(c) 180,005Peter Donald Mence----- End of picture text -----

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Details of transactions requiring disclosure-

(a) 26 May 2021 (b) 19 May 2021 Date of transaction: (c) 19 May 2021 (a) Issue of shares upon vesting of 2018 PSRs (b) Expiry/vesting of 2018 PSRs (c) Grant of 2021 PSRs Nature of transaction: Name of any other party or parties to the transaction (if known): The consideration, expressed in New Zealand dollars, paid or received for the (a) $1 acquisition or disposal. If the consideration was not in cash and cannot be readily by (b) Nil converted into a cash value, describe the consideration: (c) Nil (a) 203,887 (b) 238,521 Number of financial products to which the transaction related: (c) 180,005 If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) — include the following details

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----- Start of picture text ----- Whether relevant interests were acquired or disposed of during a closed period: NoWhether prior written clearance was provided to allow the acquisition or disposal toproceed during the closed period: N/ADate of the prior written clearance (if any): N/ASummary of other relevant interests after acquisition or disposal:(a) Ordinary shares(b) Ordinary shares(c) Ordinary sharesClass of quoted financial products: (d) Ordinary sharesNature of relevant interest:(a) 2019 PSRs(b) 2020 PRSs(c) Beneficial(d) Non-beneficialFor that relevant interest,-(a) 192,215(b) 287,356(c) 40,738.891666(d) 416,077Number held in class:(a) Peter Donald Mence(b) Peter Donald Mence(c) Sharesies Nominee Limited asnominee for Peter Donald Mence(d) Peter Donald Mence and StellaNancy McDonald as Trustees of theCurrent registered holder(s): Papageno TrustCertificationI, certify that, to the best of my knowledge and belief, the information contained in thisdisclosure is correct and that I am duly authorised to make this disclosure by allpersons for whom it is made.Signature of director or officer:Date of signature:orSignature of person authorised to sign on behalf of director or officer:Date of signature: 26-May-21Name and title of authorised person: David Snelling, Company Secretary----- End of picture text -----