AXTEC LIMITED — Capital/Financing Update 2021

Oct 26, 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 Square----- 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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27 October 2021

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FINANCIAL CLOSE – BUTLER CENTRAL HOMEMAKER CENTRE, WA

• All conditions satisfied for senior development loan

• Construction well underway

• Lester Group due diligence continues

Adelaide, Australia, Wednesday 27 October 2021: Axiom Properties Limited (ASX:AXI)

As foreshadowed in the Company’s recent Annual Report, the Directors are pleased to advise that financial close has now been achieved for the construction of its large format retail project, Butler Central Homemaker Centre, WA. All outstanding conditions precedent have been satisfied including Axiom’s additional equity commitment to the project. The $25m development facility is being provided by BankSA.

The Company refers to its announcement on 24 September 2021 advising that it had entered into a non‐binding Heads of Agreement to sell the Butler Central Homemaker Centre to The Lester Group. The Lester Group is currently undertaking their due diligence, with the period set to expire on 7 November 2021.

Approximately 65% of the Centre is now pre‐leased to predominantly major national tenants. Construction of the Centre is well underway, with completion on track for handover to tenants in June next year.

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Aerial showing site under construction as at September 2021, adjacent to the Butler train station and Butler Central shopping precinct

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: Paul Santinon Company Secretary +61 8 8120 2400