AXTEC LIMITED — Capital/Financing Update 2021

Dec 2, 2021

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----- Start of picture text ----- ASX CODEAXIISSUED CAPITALOrdinary Shares432.7 MCONTACTSouth AustraliaLevel 1, Leigh Chambers20 Leigh StreetAdelaide SA 5000GPO Box 1248Adelaide SA 5001Phone: (08) 8120 2400Email: paul@axiompl.com.auNew South WalesSuite 2007, Level 20Australia Square264-278 George Street----- End of picture text -----

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----- Start of picture text ----- Sydney NSW 2000Phone: (02) 8318 4700Email: ben@axiompl.com.au----- End of picture text -----

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3 December 2021

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PRACTICAL COMPLETION AND HANDOVER OF SOUTH AUSTRALIAN EMERGENCY SERVICES STATE CONTROL CENTRE

• Practical Completion and handover to State Government

• On time and on budget

• Axiom to receive final development fee from Charter Hall (CQE)

Adelaide, Australia, Friday 3 December 2021: Axiom Properties Limited (ASX:AXI)

Further to previous ASX announcements and Annual Report updates, Axiom is pleased to advise that it has today achieved Practical Completion on its Emergency Services State Control Centre. The achievement delivers a world class precinct to the State Government that is on budget and on time for the 2021 / 2022 bushfire season.

In accordance with the Development Management Agreement in place with CQE, Axiom is now entitled to receive its final development fee payable, representing the final tranche from the $80 million sale. Axiom expects the net proceeds to be approximately $10.5 million, with a further $2.5 million expected to be paid on the completion of the first anniversary of the completed building being December 2022.

As approved by Shareholders at the Company’s Annual General Meeting in November, the final development fee proceeds are being used to partially fund a Return of Capital to Shareholders, to be paid later this month.

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Authorised for release by the Board.

About Axiom Properties Ltd

Axiom Properties Ltd is a property development and investment business focused on developing and delivering quality property solutions. Axiom’s principal objective is to create long term value for shareholders by creating a well‐respected property development and investment company that consistently delivers above industry returns on capital.

For more information please contact: Ben Laurance Managing Director +02 8318 4700