FINBAR GROUP LIMITED — Capital/Financing Update 2012

Oct 2, 2012

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ASX MARKET & MEDIA ANNOUNCEMENT

3 October 2012

SPRINGS DEVELOPMENT RECEIVES DEVELOPMENT APPROVAL

Key Points:

• Finbar lead joint venture has received development approval for the Springs development site.

• Approval received for 188 residential apartments in an 8 and a 16 level building.

• Separate 6,250 sqm office building also approved.

• Site purchased from Landcorp as part of Springs urban revitalisation project.

• Marketing to commence early 2013.

• Completion anticipated in 2015.

• Approximately $128 million end project value.

Perth, 3 October 2012: Western Australia’s leading apartment development company, Finbar Group Limited (ASX: FRI) (“Finbar” or “the Company”) is pleased to announce that development approval has been received for the first and most substantial stage of the Springs redevelopment in Rivervale.

The Springs precinct, which is being project managed by LandCorp, reflects a combination of residential and commercial uses and will echo a major urban redevelopment.

A Finbar lead joint venture has purchased the prominent 7,441 sqm corner site located on the corner of Great Eastern Highway and the Graham Farmer Freeway which will signify the gateway to the Springs development.

The company will be building two residential apartment buildings of eight and 16 storeys which will yield 188 apartments, as well as a separate six storey office building that will yield 6,250 sqm of office space.

Mr Darren Pateman, Managing Director of Finbar Group Limited stated that the approval for The Springs and the future construction program was timed perfectly to coincide with the new Burswood $570 million, six-star luxury hotel and the $1 billion sports stadium and infrastructure project.

“The whole Burswood precinct will be transformed over the next four years and the Springs is a key element with this renewal process”, Mr Pateman said.

“Our apartments will offer views of the river and the city and their proximity to public transport, access to the CBD, the airport, and major arterial road systems will make this a very convenient and accessible development.

“We will commence marketing the project, off-the-plan, in January, with the view to start construction in 2013 and completion anticipated for 2015, so that residents will be the first to benefit from the major investment, planned for the Burswood area”.

The riverside community will provide ample public open space and direct access to the Swan River which will provide an ideal location to live and work.

Finbar will offer a range of apartments with a mix of 1, 2 and 3 bedrooms with views across the Swan River and to Perth city and will offer a price point that will appeal to a broad cross section of the market.

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ABOVE: Preliminary Concept Impression

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For further information, please visit www.finbar.com.au or contact:

Investors Media Darren Pateman Public Relations Manager Managing Director Samantha Reece Finbar Group Limited Tel: 08 6211 3315 Email: darren@finbar.com.au Email: sam@finbar.com.au

Finbar Group Limited, its controlled entities and its jointly controlled entities, is a property development company whose core business lies in the development of medium to high density residential apartments and commercial property within the Perth Metropolitan Area and the Pilbara region within the State of Western Australia.