CHARTER HALL GROUP

603 Page 1 of 2 15 July 2001

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme CHARTER HALL GROUP

ACN/ARSN 113 531 150

1. Details of substantial holder (1)

Pinnacle Investment Management Group Limited (and its subsidiaries Name listed in Annexure A ACN/ARSN (if applicable) 100 325 184

The holder became a substantial holder on 23 / 03 / 2018

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
`ORDINARY FULLY PAID`	`25,228,765`	`25,228,765`	`5.42%`

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
`REFER TO ANNEXURE A PART 1` `AND PART 2`

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
`REFER TO ANNEXURE B`

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Consideration (9)	Consideration (9)
	Cash	Non-cash
`REFER TO ANNEXURE C`

603 Page 2 of 2 15 July 2001

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
`REFER TO ANNEXURE D`

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
`REFER TO ANNEXURE E`

Signature

ure
print name sign here	`CALVIN KWOK` capacity `COMPANY SECRETARY`
	date `28``/``03``/``2018`

DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
(2) See the definition of "associate" in section 9 of the Corporations Act 2001.
(3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
(4) The voting shares of a company constitute one class unless divided into separate classes.
(5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.
(6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
(7) Include details of:
(a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

(8) If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown".
(9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

CHARTER HALL GROUP	CHARTER HALL GROUP	CHARTER HALL GROUP	CHARTER HALL GROUP
Annexure A - Part 1
Holder of relevant interest	Nature of relevant interest	Number of securities	Class of securities
Pinnacle Investment Management Group Limited Pinnacle Investment Management Limited Ariano Pty Limited (ACN 605 250 799) Next Financial Limited (ACN 081 722 894) Next Financial Nominees Pty Ltd (ACN 093 252 576) Next Financial Nominees No. 2 Pty Ltd (ACN 132 819 115) Investment Solutions Client Services Pty Ltd (ACN 117 898 334) Priority Funds Management Pty Ltd (ACN 120 826 575) Priority Investment Management Pty Ltd (ACN 116 943 456 PNI Option Plan Managers Pty Ltd (ACN 125 030 766) Pinnacle RE Services Limited (ACN 130 508 379) Pinnacle Services Administration Pty Ltd (ACN 126 175 148) Pinnacle Investment Management (UK) Limited (Company Number 11026111) POSH Nominees Pty Limited (ACN 620 094 251)	Relevant interest by virtue of section 608(3) of the Corporations Act as it or its associates holds directly or indirectly above 20% voting power in one or more affiliated investment managers (see Annexure A – Part 2) and Pinnacle Fund Services Limited, who each in turn hold relevant interests in the securities the subject of this notice.	25,228,765	Ordinary fully paid
Pinnacle Fund Services Limited (ACN 082 494 362)	Relevant interest held through the power to control voting and/or disposal of securities in its capacity as responsible entity or trustee of registered or unregistered schemes and/or relevant interest by virtue of section 608(3) of the Corporations Act as it or its associates holds directly or indirectly above 20% voting power in one or more affiliated investment managers (see Annexure A – Part 2) who each in turn hold relevant interests in the securities the subject of this notice.	25,228,765	Ordinary fully paid

This is Annexure "A - Part 1" s as mentioned in form 603 Notice of initial substantial holder

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Calvin Kwok Company Secretary Date: 28/03/2018

CHARTER HALL GROUP Annexure A - Part 2 Affiliated Investment Managers Antipodes Partners Limited (ACN 602 042 035) Hyperion Asset Management Limited (ACN 080 135 897) Firetrail Investments Pty Ltd (ACN 622 377 913) Palisade Investment Partners Limited (ACN 124 326 361) Plato Investment Management Limited (ACN 120 730 136) Resolution Capital Limited (ACN 108 584 167) Solaris Investment Management Limited (ACN 128 512 621) Spheria Asset Management Pty Ltd (ACN 611 081 326) Two Trees Investment Management Pty Limited (ACN 616 424 170)

This is Annexure "A - Part 2" as mentioned in form 603 Notice of initial substantial holder

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Calvin Kwok Company Secretary Date: 28/03/2018

CHARTER HALL GROUP	CHARTER HALL GROUP	CHARTER HALL GROUP	CHARTER HALL GROUP	CHARTER HALL GROUP	CHARTER HALL GROUP
Annexure C
Holder of relevant interest	Date of acquisition	Consideration		Number of securities	Class of Securities
		Cash	Non‐Cash
Pinnacle Investment Management Group Limited (and its subsidiaries listed in Annexure A)	28/11/2017	11,459.70 $		1,819	ORDINARY FULLY PAID
As above	29/11/2017	6,028.80 $		960	ORDINARY FULLY PAID
As above	30/11/2017	340,469.65 $		53,929	ORDINARY FULLY PAID
As above	5/12/2017	643,694.25 ‐$		104,613 ‐	ORDINARY FULLY PAID
As above	8/12/2017	7,115.24 $		1,133	ORDINARY FULLY PAID
As above	11/12/2017	649,227.94 $		102,268	ORDINARY FULLY PAID
As above	11/12/2017	289,761.81 $		45,644	ORDINARY FULLY PAID
As above	11/12/2017	145,325.28 $		22,892	ORDINARY FULLY PAID
As above	11/12/2017	33,347.62 $		5,253	ORDINARY FULLY PAID
As above	12/12/2017	637,906.44 $		100,000	ORDINARY FULLY PAID
As above	12/12/2017	31,953.52 $		5,000	ORDINARY FULLY PAID
As above	13/12/2017		130,770.41 $	20,401	ORDINARY FULLY PAID
As above	14/12/2017	10,672.72 $		1,672	ORDINARY FULLY PAID
As above	18/12/2017	1,281,641.02 $		200,000	ORDINARY FULLY PAID
As above	19/12/2017	6,035,281.59 $		938,613	ORDINARY FULLY PAID
As above	19/12/2017	12,247,336.74 $		1,904,718	ORDINARY FULLY PAID
As above	19/12/2017	643,812.18 $		100,000	ORDINARY FULLY PAID
As above	19/12/2017	9,793.97 $		1,523	ORDINARY FULLY PAID
As above	19/12/2017	19,314.37 $		3,000	ORDINARY FULLY PAID
As above	19/12/2017	289,715.50 $		45,000	ORDINARY FULLY PAID
As above	22/12/2017	10,320.60 $		1,670	ORDINARY FULLY PAID
As above	22/12/2017	12,332.65 ‐$		2,000 ‐	ORDINARY FULLY PAID
As above	4/01/2018	290,979.25 $		48,087	ORDINARY FULLY PAID
As above	4/01/2018	145,940.43 $		24,118	ORDINARY FULLY PAID
As above	4/01/2018	22,163.59 $		3,663	ORDINARY FULLY PAID
As above	8/01/2018	12,138.78 $		1,977	ORDINARY FULLY PAID
As above	9/01/2018	646,963.10 $		105,064	ORDINARY FULLY PAID
As above	9/01/2018	291,319.36 $		47,309	ORDINARY FULLY PAID
As above	9/01/2018	146,106.12 $		23,727	ORDINARY FULLY PAID
As above	9/01/2018	14,778.72 $		2,400	ORDINARY FULLY PAID
As above	9/01/2018	49,545.66 $		8,046	ORDINARY FULLY PAID
As above	10/01/2018	698,653.73 $		115,838	ORDINARY FULLY PAID
As above	10/01/2018	171,596.52 $		28,451	ORDINARY FULLY PAID
As above	10/01/2018	86,060.62 $		14,269	ORDINARY FULLY PAID
As above	10/01/2018	32,155.50 $		5,332	ORDINARY FULLY PAID
As above	11/01/2018	13,134.00 $		2,200	ORDINARY FULLY PAID
As above	18/01/2018	9,018.54 $		1,539	ORDINARY FULLY PAID
As above	30/01/2018	10,097.56 $		1,732	ORDINARY FULLY PAID

As above	1/02/2018	15,629.72 ‐$		2,631 ‐	ORDINARY FULLY PAID
As above	6/02/2018	575,526.74 $		103,419	ORDINARY FULLY PAID
As above	6/02/2018	260,397.48 $		46,792	ORDINARY FULLY PAID
As above	6/02/2018	130,599.42 $		23,468	ORDINARY FULLY PAID
As above	6/02/2018	29,594.67 $		5,318	ORDINARY FULLY PAID
As above	6/02/2018	8,698.23 ‐$		1,522 ‐	ORDINARY FULLY PAID
As above	9/02/2018	766,303.26 ‐$		137,864 ‐	ORDINARY FULLY PAID
As above	13/02/2018	28,616.00 $		5,110	ORDINARY FULLY PAID
As above	23/02/2018	24,372.95 $		4,195	ORDINARY FULLY PAID
As above	23/02/2018	29,035.76 $		4,997	ORDINARY FULLY PAID
As above	23/02/2018		58,100.00 ‐$	10,000 ‐	ORDINARY FULLY PAID
As above	26/02/2018	7,330.86 ‐$		1,251 ‐	ORDINARY FULLY PAID
As above	28/02/2018	6,282.90 $		1,074	ORDINARY FULLY PAID
As above	28/02/2018	315,155.68 $		53,929	ORDINARY FULLY PAID
As above	28/02/2018	315,155.68 ‐$		53,929 ‐	ORDINARY FULLY PAID
As above	28/02/2018	19,328.40 ‐$		3,304 ‐	ORDINARY FULLY PAID
As above	28/02/2018	19,328.40 $		3,304	ORDINARY FULLY PAID
As above	8/03/2018	107,262.60 $		18,430	ORDINARY FULLY PAID
As above	14/03/2018	144,970.54 $		24,739	ORDINARY FULLY PAID
As above	15/03/2018	111,799.35 $		19,111	ORDINARY FULLY PAID
As above	15/03/2018	52,655.80 $		9,000	ORDINARY FULLY PAID
As above	16/03/2018	707,714.20 $		120,000	ORDINARY FULLY PAID
As above	20/03/2018	10,365,030.06 $		1,780,933	ORDINARY FULLY PAID
As above	22/03/2018	115,958.36 $		20,062	ORDINARY FULLY PAID
As above	23/03/2018	26,871.26 $		4,706	ORDINARY FULLY PAID

This is Annexure "C" as mentioned in form 603 Notice of initial substantial holder

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Calvin Kwok Company Secretary Date: 28/03/2018