CHARTER HALL GROUP — Capital/Financing Update 2010

Feb 17, 2010

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18 February 2010

Luxmy Wigneswaran Advisor, Issuers (Sydney) ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Level 11, 333 George Street Sydney NSW 2000 GPO Box 2704 Sydney NSW 2001 Tel +61 2 8908 4000 Fax +61 2 8908 4040 www.charterhall.com.au Charter Hall Limited ABN 57 113 531 150 Charter Hall Funds Management Limited ABN 31 082 991 786

Dear Ms Wigneswaran

ENTITLEMENT OFFER – NOTIFICATION TO INELIGIBLE RETAIL STAPLED SECURITYHOLDERS

Please find attached a copy of the notification which is being sent to Ineligible Retail Securityholders today.

Yours sincerely

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NATHAN FRANCIS Deputy CFO & Company Secretary

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18 February 2010

Dear Securityholder,

Level 11, 333 George Street Sydney NSW 2000 GPO Box 2704 Sydney NSW 2001 Tel +61 2 8908 4000 Fax +61 2 8908 4040 www.charterhall.com.au Charter Hall Limited ABN 57 113 531 150 Charter Hall Funds Management Limited ABN 31 082 991 786

CHARTER HALL GROUP ENTITLEMENT OFFER — NOTIFICATION TO INELIGIBLE RETAIL STAPLED SECURITYHOLDERS

On 12 February 2010, Charter Hall announced an equity raising of approximately A$305 million comprising, in part, a 2 for 5 accelerated non-renounceable entitlement offer of Charter Hall stapled securities ("New Securities") at an issue price of A$0.65 per New Security to raise approximately A$195 million ("Entitlement Offer"). The Entitlement Offer is fully underwritten.

The proceeds from the Entitlement Offer will be used to partly fund the acquisition by Charter Hall of Macquarie Group Limited's Real Estate Management Platform as described in the investor presentation lodged with ASX dated 12 February 2010.

The Entitlement Offer consists of an institutional and a retail component ("Institutional Entitlement Offer" and "Retail Entitlement Offer" respectively). The Retail Entitlement Offer is only available to Eligible Retail Securityholders. Documents relating to the Retail Entitlement Offer were lodged with ASX on 12 and 18 February 2010 and are being mailed to Eligible Retail Securityholders today.

In accordance with the ASX Listing Rules, Charter Hall has determined that it is not practicable to extend the Retail Entitlement Offer to retail securityholders whose registered address is outside of Australia and New Zealand.

Unfortunately, as a result you will not be able to participate in the Retail Entitlement Offer and you will not be sent the Retail Entitlement Offer documents. As the Entitlement Offer is “non-renounceable” you will not receive any value in respect of the entitlements that you would have otherwise been granted had you been eligible under the Retail Entitlement Offer.

This notice is to inform you about the Retail Entitlement Offer. This letter is not an offer to issue New Securities to you, nor an invitation for you to apply for New Securities. You are not required to do anything in response to this letter.

If you have any questions in relation to any of the above matters, please contact the Charter Hall Entitlement Offer Information Line on 1300 664 498 (local call cost from within Australia) or +61 2 8280 7787 (outside Australia) at any time from 8.00am to 7.30pm (AEDT) Monday to Friday between 18 February 2010 and 5 March 2010.

Yours faithfully

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Nathan Francis

Deputy CFO & Company Secretary

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NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES TO US PERSONS

UNITED STATES LAWS: This notice does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to any US Person. This notice may not be distributed to, or relied upon by, persons in the United States or who are, or are acting for the account or benefit of, US Persons. Neither the Entitlements nor New Securities offered in the capital raising have been, or will be, registered under the US Securities Act or the securities laws of any state or other jurisdiction of the United States. In addition, neither Charter Hall Limited nor Charter Hall Industrial Trust has been, or will be, registered under the US Investment Company Act of 1940 (the “Investment Company Act”) in reliance on an exception provided by Section 3(c)(7) thereof. Securities may not be offered or sold in the United States or to, or for the account or benefit of, US Persons unless they are registered under the US Securities Act or unless they are offered or sold in transactions exempt from, or not subject to, registration. Accordingly, the securities being offered in the Retail Entitlement Offer may only be offered and sold outside the United States to persons that are not US Persons and are not acting for the account or benefit of US Persons in "offshore transactions" (as defined in Regulation S under the US Securities Act) in compliance with Regulation S and the laws of the jurisdiction in which such securities are offered and sold. Such Securities may not be deposited in any unrestricted American Depositary Receipt Facility with respect to the securities of Charter Hall Group that may be established until 40 days following the completion of the capital raising.

IMPORTANT NOTICE TO NOMINEES: Because of legal restrictions, you must not send copies of this letter or any material relating to the Offer to any of your clients (or any other person) in the United States or to any person that is, or is acting for the account or benefit of, a US Person. Failure to comply with these restrictions may result in violations of applicable securities laws.