CROMWELL PROPERTY GROUP — Capital/Financing Update 2013

May 23, 2013

No:

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ASX Circular

CROMWELL PROPERTY GROUP – ACCELERATED NON RENOUNCEABLE ENTITLEMENT OFFER

Date : 24 May 2013

Key topics

1. Cromwell Property Group

2. Accelerated Non Renounceable Entitlement Offer

Participating Organisations are advised that Cromwell Property Group (the “Group”) announced a 1 for 12 accelerated non-renounceable pro rata entitlement offer (the “Entitlement Offer”), of new securities at an issue price of $1.00 per stapled security (the “Offer Price”) to raise up to approximately $122 million.

1. ASX Code: CMW

The Entitlement Offer has two components:

Reading List

Client Advisers Corporate Advisory DTR Operators Institutions Listing Officers

ASX Settlement Participants Office Managers Operations Managers (back office)

Research Analysts Share Registries ASX Clear Participants Market Participants

Authorised by

• an institutional entitlement offer, where offers have been made to qualifying institutional securityholders for them to apply for their pro-rata entitlement (the “Institutional Entitlement Offer”); and

• a retail entitlement offer, where offers will be made to qualifying retail securityholders for them to apply for their pro-rata entitlement (“Retail Entitlement Offer”).

The Record Date for the Entitlement Offer is Tuesday, 28 May 2013.

The Retail Entitlement Offer is expected to close on Monday, 17 June 2013.

New securities issued under the Entitlement Offer will rank equally with existing securities on issue.

The anticipated timetable in relation to the Entitlement Offer is set out below.

Adrian Smythe

Contact

Lisa Banh

ASX Limited ABN 98 008 624 691 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215

Internet: http://www.asx.com.au

No responsibility is accepted for any inaccuracies contained in the matter published.

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EventTrading Halt commencedInstitutional Entitlement Offer OpensInstitutional Entitlement Offer ClosesTrading Halt liftedRecord Date for Entitlement OfferSettlement of Institutional Entitlement OfferIssue of securities under Institutional Entitlement OfferTrading commences in securities issued under InstitutionalEntitlement OfferRetail Entitlement Offer opensRetail Entitlement Offer despatchedRetail Entitlement Offer closesSettlement of Retail Entitlement OfferIssue of securities under Retail Entitlement OfferDespatch of holding statementsTrading commences in securities issued under Retail EntitlementOffer

DateWednesday, 22 May 2013Thursday, 23 May 2013Friday, 24 May 2013Monday, 27 May 20137:00pm (AEST), Tuesday, 28 May 2013Friday, 7 June 2013Tuesday, 11 June 2013Friday, 31 May 2013Monday, 17 June 2013Monday, 24 June 2013Tuesday, 25 June 2013Wednesday, 26 June 2013

Settlement issues

Despite the fact that securities are trading “ex entitlement” on ASX Trade, CHESS will not recognise for settlement purposes the “ex entitlement” or the “cum entitlement” tag on CHESS messages and CHESS will not maintain cum balances during the deemed “CHESS ex-period”, i.e. the period commencing on the deemed CHESS Ex-Date up to and including the record date. However, a record date cum balance will be available the business day following the record date, which will be equal to the registered holding balance at CHESS end of day on the record date. As a result any transfer that occurs prior to record date will be effectively transferred on a “cum” basis.

Therefore, Participants must ensure that any transfer, including the priming of Broker Entrepot Accounts, is conducted in accordance with the basis of quote. For example, a transfer in relation to a transaction conducted on an ex-basis should ordinarily only occur post record date.

CHESS will perform automatic diary adjustments to “cum entitlement” settlement obligations outstanding as at the record date.

Trading issues

ASX will not price a “cum” market with respect to trading in the Group’s securities. Persons who acquire the Group’s securities after the commencement of the trading halt on Wednesday, 22 May 2013 are not entitled to participate in the Entitlement Offer.

Further information

For further details, please refer to the Group’s announcements on 23 May 2013.

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