FINBAR GROUP LIMITED — Capital/Financing Update 2012

Jul 29, 2012

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ASX MARKET & MEDIA ANNOUNCEMENT

30 July 2012

FINBAR SECURES NEW $300M PORT HEDLAND DEVELOPMENT

Key Points:

• Finbar selected as preferred developer of former Port Hedland Hospital site.

• Project end value worth ~$300 million.

• Project comprises 367 short stay apartments plus 3,900sqm of ground floor commercial lots.

• Project planned to overlook new $152 million Spoilbank Marina Precinct.

• Finbar recently completed Pelago West and commenced Pelago East apartment projects in Karratha.

• Construction to commence on the Port Hedland site in early 2013 subject to approvals.

Perth, 30 July 2012: Western Australia’s leading apartment development company, Finbar Group Limited (ASX: FRI) (“Finbar” or “the Company”) is pleased to announce today that the State Government has appointed the Company as the preferred developer of a significant apartment site overlooking the Spoilbank Marina, located in the Pilbara Town of Port Hedland, Western Australia.

The project, which is set to take place on what is referred to as the former Port Hedland Regional Hospital site, is a 3.15 hectare parcel of land located on Sutherland and Morgans Streets in Port Hedland, situated directly opposite the Port Hedland Yacht Club.

The proposed Finbar development will comprise 367 short stay serviced apartments along with a considerable element of ground floor commercial office and retail units, which will reflect the requirements for the State Government funded $152 million marina and tourism precinct.

Commenting on the announcement today, Managing Director, Darren Pateman stated it was exciting to secure another strategic project for the Company’s North West expansion.

“Port Hedland represents a significant opportunity for Finbar and allows us to demonstrate further innovative housing in the Pilbara area,” Mr Pateman said.

“The Spoilbank Marina project itself will be a milestone for the Port Hedland area and will provide real relief to local residents and businesses that are crying out for alternative recreation and accommodation options.”

The announcement today comes on the back of Finbar’s recent completion of Pelago West, the Company’s first 114 apartments in the Pilbara town of Karratha, along with the formal commencement of works at Pelago East, an additional 184 apartments, earlier this month.

Mr Pateman stated that with the completion of the first stage of the Pelago project, Finbar had demonstrated its preparedness to undertake a leadership role in providing apartment accommodation within the North West.

“Accommodation in the North West is certainly in strong demand and Finbar’s agility will enable us to respond quickly for the benefit of the town, its businesses, and our shareholders,” Mr Pateman said.

“Ideally, the Spoilbank Marina precinct will enliven the Port Hedland community and become a destination which workers would prefer to call home.”

“From what we have witnessed, there is a pent up demand for cosmopolitan living and we believe that Spoilbank Marina will become the prime Port Hedland location.”

Finbar will now enter into an exclusive working period with Landcorp, Western Australia’s government land and property development agency. The Company will firm up design concepts for consideration by the relevant authorities followed by the intended purchase of the site from the State Government for redevelopment. Subject to approvals, Finbar plans to proceed to market and commence construction on the Port Hedland site early in 2013.

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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 Managing Director Finbar Group Limited Email: darren@finbar.com.au

Public Relations Manager Samantha Reece Tel: 08 6211 3314 Email: sam@finbar.com.au

Professional Public Relations James Harris Tel: 08 9388 0944 Email: james.harris@ppr.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.