BLACKWALL LIMITED — Director's Dealing 2016

Jan 3, 2016

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity: BlackWall Property Funds Limited

ABN: 37 146 935 131

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Stuart Brown
Date of last notice	23 Dec 2015

Part 1 - Change of director’s relevant interests in securities In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest		Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevant		Frogstorm Pty Ltd <Bossanova**Super Fund A/C> -**Stuart Brown is a
interest.		director and beneficiary.
Date of change		24 December 2015
No. of securities held prior to		2,247,650
change
Class		Ordinary Shares
Number acquired		15,000
Number disposed		0
Value/ConsiderationNote: If consideration is non-cash, provide details and	estimated	$6,900
valuation
No.ofsecuritiesheld	after	2,262,650
change
Nature of change		On-market trade
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in	buy-back

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract		Not Applicable
Nature of interest
Nameofregistered
holder
(if issued securities)
Date of change
No.andclass	of
securitiesto	which
interest related	prior
to change
Note: Details are only required for a	contract in
relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide	details and
an estimated valuation
Interest after change

Part 3 –[+] Closed period

Were the interests in the securities or No contracts detailed above traded during a + closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade to proceed during this period? If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011