CEDAR WOODS PROPERTIES LIMITED — Capital/Financing Update 2021

Dec 15, 2021

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Cedar Woods increases and extends corporate finance facility

Cedar Woods Properties Limited (ASX: CWP) (Cedar Woods or the Company) has increased and extended its corporate finance facility following completion of the annual review.

The club facility provided by ANZ, Bankwest and NAB, comprises a mix of three year and five year debt and has been increased to $300 million (previously $205 million).

The updated terms include:

• Extension of an additional year for the 3-year tranche to January 2025 (now $240 million, 80% of the total limit); and

• Extension of an additional year for the 5-year tranche to January 2027 (now $60 million, 20% of the total limit).

The facility is reviewed annually and has the potential to be extended an additional year in January each year from 2023, refreshing both the three and five year terms, subject to consent by the lenders.

The increased facility supports the Company’s expanded operations and growth plans and will be utilised to fund the $49.5 million acquisition of an 86 hectare site at Eglinton, WA in December 2021, as announced on 7 November 2021. Following the acquisition the Company will maintain more than $90 million in available funding capacity.

Cedar Woods Managing Director, Nathan Blackburne, commented: “The support of our financiers is a strong endorsement of management and our business model. Additionally, it serves as an advantage in acquiring future development sites and supporting our growth ambitions.”

16 December 2021

Cedar Woods Properties Limited

ASX Code: CWP

Highlights:

• Increase of corporate finance facility limit by $95m to $300m

• Extension of three year component of the facility to January 2025

• Extension of five year component of the facility to January 2027

• Significant headroom maintained under the facility to fund future growth

ENDS

Authorised for release by: Nathan Blackburne, Managing Director

For further information: Nathan Blackburne Managing Director (08) 9480 1500 Michael Weir Citadel-MAGNUS 0402 347 032

Ground Floor 50 Colin St West Perth, WA 6005 | PO Box 788, West Perth, WA 6872 T 08 9480 1500 | E email@cedarwoods.com.au | www.cedarwoods.com.au