BLACKWALL LIMITED — Capital/Financing Update 2014

Oct 19, 2014

20 October 2014

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ASX Release BlackWall Launches New Wholesale Trust

BlackWall has launched a new wholesale investment trust. The Pyrmont Bridge Trust will take a controlling position in an office/media and technology hub located at 55 Pyrmont Bridge Road on Sydney's western fringe.

The offer relates to an agreement between BlackWall and the National Australia Bank for the acquisition of a distressed debt position over the property. The $80 million transaction will be funded by senior debt with $30 million in equity contributed equally by the bank and BlackWall investors.

The Pyrmont Bridge Trust will be offered to wholesale and sophisticated investors only.

BlackWall has already generated some leasing traction with just over 3,000 sqm of the 7,500 sqm vacancies filled. The 15,000 sqm building has existing tenants including Verizon Australia, Data Processors and Fairfax. The new deals being documented include a 2,000 sqm child care centre and an office/data centre for an international broadcast service provider. The office/data centre will upgrade and reuse the significant technical plant and equipment installed by previous tenants.

For more information please contact BlackWall.

Stuart Brown Chief Executive Officer

Lucy Partridge Head of Funds Management

BLACKWALL PROPERTY FUNDS LIMITED ABN 37 146 935 131

Level 1, 50 Yeo Street, Neutral Bay, Sydney NSW 2089 Australia | PO Box 612, Neutral Bay, Sydney NSW 2089 Australia | Tel +61 2 9033 8611 | Fax +61 2 9033 8600 | www.blackwallfunds.com.au