FINBAR GROUP LIMITED — Capital/Financing Update 2013

Apr 30, 2013

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ASX MARKET & MEDIA ANNOUNCEMENT

1 May 2013

FINBAR JV ACQUIRES PRIME WEST PERTH DEVELOPMENT SITE

• Finbar JV to acquire 3,410m[2] development site on Murray Street, West Perth.

• Site acquired for $10.55 million and contracted to settle in November 2013.

• Proposal to develop ~240 apartments.

• Finbar to hold 50% interest in project profit and earn project management fee.

• Project end value of ~$125 million.

• Project anticipated to impact on FY16 / FY17 earnings.

Perth, 1 May 2013: Western Australia’s leading apartment developer Finbar Group Limited (ASX:FRI) ( Finbar or the Company ) is pleased to announce that it has secured the joint venture acquisition of 647-659 Murray Street in West Perth for $10.55m.

The land has been secured by way of an unconditional contract and is contracted to settle in November 2013. The property is being leased back to the current building occupants until June 2014 at which point the existing buildings will be demolished to make way for the proposed development of approximately 240 apartments with an estimated end value of approximately $125 million.

The 3,410m2 property which is very well positioned between Havelock Street and the Freeway system offers excellent links to the Perth CBD. The upper levels of the proposed development would enjoy commanding views of the City skyline and Kings Park.

Finbar has entered into a 50% joint venture agreement with long term joint venture investors to acquire and develop the site and will hold a 50% interest in project as well as earn a project management fee.

Managing Director, Darren Pateman said today, “Finbar is pleased to have secured this project for our continued growth. All existing projects are adequately funded through budgeted working capital and debt facilities from major Australian banks where the repayment of these facilities are covered by underlying pre-sales that well exceed debt levels. New opportunities can therefore be sought that are timed to recycle our capital efficiently through cashflow from completed projects. ”

It is anticipated that the profit from this project will impact on earnings in FY16 / FY17.

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

Darren Pateman James Harris Managing Director Professional Public Relations Finbar Group Limited Tel: 08 9388 0944 Via email: darren@finbar.com.au 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 within the State of Western Australia.

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