CVC LIMITED — Capital/Financing Update 2014

Dec 10, 2014

11 December 2014

Acquisition – Donnybrook

Villa World Limited advises that, in joint venture with CVC Limited, it has agreed to the unconditional purchase of a site at Donnybrook, Victoria with settlement due in December 2014. This follows the purchase of an adjoining site by the same joint venture, as disclosed at Villa World’s AGM on 30 October 2014. Settlement of that site is due in August 2015.

A total price of $22.775m has been agreed for the two sites, securing a landholding of approximately 270ha in one of Melbourne’s fastest growing urban corridors. The joint venture will obtain project specific finance for the acquisition and development.

The sites are located within the Urban Growth Boundary, and will be the subject of a 2‐3 year planning process potentially yielding in excess of 2,000 lots.

Villa World’s CEO & Managing Director, Craig Treasure said “We’re very optimistic about this purchase, which will significantly boost our medium to long term development portfolio in Melbourne. To acquire a large holding in this growth region at a pre‐approval price, creates real potential to add value through the planning process.”

“Part of our acquisition strategy is to capitalise on opportunities for longer dated projects with appropriate partnering structures. We’re pleased to be partnering with CVC on this project, who have previously been a substantial shareholder in our company.”

This project is expected to commence contributing to revenue during FY19.

Enquiries to: Craig Treasure Managing Director and CEO Tel: (07) 5588 8888 securityholder@villaworld.com.au