Asset Plus Limited — Capital/Financing Update 2025

Jul 15, 2025

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NZX RELEASE

16 July 2025

Lease secured for 6-8 Munroe Lane

Asset Plus (NZX: APL) is pleased to confirm that it has entered an unconditional agreement to lease for approximately 51% of Level 6 at 6-8 Munroe Lane (being approximately 1,400 sqm). Fit-out works are expected to be completed by early 2026, with the 10-year lease commencing upon practical completion of those works. The tenant has a break right exercisable on the sixth anniversary of the commencement which must be exercised by providing notice at least 12 months prior to that date. If exercised, the tenant must pay Asset Plus a break fee.

This lease increases committed occupancy for the property from 65% up to 74%. The face rent payable by the tenant equates to $465 per square metre. Asset Plus is responsible for delivering all fit-out works for the premises and will retain ownership of those fit-out works.

Further leasing initiatives for the remaining vacant space within the property remain ongoing.

Announcement authorised by the Board of Asset Plus Limited .

-ENDS-

For further information, please contact:

Stephen Brown-Thomas Asset Plus Fund Manager, Centuria NZ, manager of Asset Plus Limited +64 9 300 6161

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