CROMWELL PROPERTY GROUP — M&A Activity 2020

Aug 20, 2020

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Friday 21 August 2020

ASX Market Announcements Office Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Cromwell Property Group (ASX:CMW) Letter to Cromwell Property Group securityholders

In accordance with ASX Listing Rule 3.17.1, attached is a copy of a letter sent to holders of Cromwell Property Group stapled securities generally.

Yours faithfully

CROMWELL PROPERTY GROUP

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LUCY LAAKSO

COMPANY SECRETARY

Authorised for lodgement by Lucy Laakso (Company Secretary) and Michael Wilde (Chief Financial Officer).

Media Enquiries:

Honner Media Paul Cheal / Jessica Effeney +61 (0) 427 755 296 / +61 (0) 400 998 373 paul@honner.com.au / jessica@honner.com.au

ABOUT CROMWELL PROPERTY GROUP

Cromwell Property Group (ASX:CMW) is a diversified real estate investor and manager with operations on three continents and a global investor base. As at 31 December 2019, Cromwell had a market capitalisation of $3.1 billion, a direct property investment portfolio valued at $3.2 billion and total assets under management of $11.9 billion across Australia, New Zealand and Europe.

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RETURN MAIL TO: POSTAGE GPO Box 1093 PAID BRISBANE QLD 4001 AUSTRALIA PRIORITY

Your Cromwell Board intends to recommend that you

VOTE AGAINST ARA’s[*] attempt to install its nominees on Cromwell’s Board and REJECT ARA’s hostile, opportunistic Proportional Takeover Offer

IGNORE ALL DOCUMENTS FROM ARA . Cromwell will send you its official response to ARA’s hostile, opportunistic offer and also official voting forms for you to use at ARA’s requisitioned securityholder meeting shortly.

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STOP ARA’S TAKEOVER BY STEALTH

VOTE AGAINST ARA’s[*] attempt to install its nominees on Cromwell’s Board and REJECT ARA’s hostile, opportunistic Proportional Takeover Offer

• ARA’s* intention to seize control of Cromwell has been revealed.

• ARA is attempting to secure control of Cromwell by launching a hostile, proportional takeover offer and seeking to install its nominees on Cromwell’s Board.

• Unlike ARA, Cromwell has robust governance and a proven track record of strong performance, successfully outperforming all ARA-managed listed REITs over the long term.

• Ignore all documents from ARA – and take no action until you receive Cromwell’s response.

Questions?

Please call Cromwell’s Investor Services team on 1300 268 078 (within Australia) or +61 7 3225 7777 (outside Australia) or email invest@cromwell.com.au.

*ARA Asset Management Holdings Pte. Ltd. through a related body corporate