CROMWELL PROPERTY GROUP — Capital/Financing Update 2017

Feb 19, 2017

==> picture [9 x 9] intentionally omitted <==

----- Start of picture text ----- �----- End of picture text -----

ASX Announcement

20 February 2017

CROMWELL SEES VALUE IN IOF UP TO $4.75 PER IOF SECURITY

Based on the information currently in the market, the assessment of values given to Investa Office Fund ( IOF ) securities by independent analysts falls within a range of $4.27 to $4.71 (with an average value of $4.45).

Based on current, publicly available information Cromwell sees value for IOF at a range of $4.45 per IOF security (Cromwell’s initial proposal) up to $4.75 per IOF security.

If Cromwell Property Group ( Cromwell ) is provided access to sufficient information and that information supports an improvement to Cromwell’s assessment of value, Cromwell expects to target a revised offer price at the upper level of independent analyst’s value range.

Further details are available on Cromwell’s website www.cromwell.com.au.

Media Enquiries: Cromwell Securityholder Enquiries: Paul Weightman Investor Services Centre Managing Director/CEO 1300 276 693 +61 411 111 028 pweightman@cromwell.com.au invest@cromwell.com.au

Ends

About Cromwell Property Group

Cromwell Property Group (ASX:CMW) is a Global Real Estate Investment Manager. The Group is included in the S&P/ASX 200. As at 30 June 2016, Cromwell had a market capitalisation of $1.8 billion, a direct property investment portfolio in Australia valued at $2.3 billion and total assets under management of $10.3 billion across Australia, New Zealand and Europe.

Cromwell Property Group (ASX:CMW) comprising Cromwell Corporation Limited ABN 44 001 056 980 and the Cromwell Diversified Property Trust ABN 30 074 537 051, ARSN 102 982 598 (the responsible entity of which is Cromwell Property Securities Limited ABN 11 079 147 809, AFSL 238052)

Further information and media releases can be found at the Cromwell website: www.cromwell.com.au