FINBAR GROUP LIMITED — Capital/Financing Update 2014

Feb 11, 2014

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ASX MARKET & MEDIA ANNOUNCEMENT

12 February 2014

SPRINGS RIVERVALE JOINT VENTURE SECURED

• Finbar led JV to develop prime Lot 1014 Springs, Rivervale.

• Predominately a residential project with more than 130 apartments.

• Development approval and marketing forecast to commence within 12 months.

• Finbar to receive 50% of project profit plus management fee.

• End project value expected to exceed $75 million.

• Anticipated to contribute to Finbar earnings in FY17/18.

Perth, 12 February 2014: Western Australia’s leading apartment development company, Finbar Group Limited (ASX: FRI) ( Finbar or the Company ) is pleased to announce details of a joint venture for the development of a 4,000 square metre site located on the corners of Brighton Road, Rowe Avenue, and Great Eastern Highway in the Springs subdivision in Rivervale.

The site which is located just 200 metres from Fi nbar’s highly successful Spring View Towers project and 350 metres from Finbar’s new Arbor project, is expected to yield in excess of 130 residential apartments with ground floor commercial space and will be situated at the main entrance to the Springs precinct. Whilst ultimate yield is still to be negotiated with the approval authorities, it is anticipated the end project value will exceed $75 million with the project forecast to contribute to the Company’s earnings in FY17 / FY18.

Finbar has entered into a development agreement with the land owner whereby the land owner will contribute the land, and Finbar, through a wholly owned subsidiary, will contribute $2,500,000 as working capital, obtain development finance, and carry out the development of the property. Finbar and the land owner will share equally in the development profit with Finbar also earning a management fee.

Design works will commence immediately with the view to seek development approval and commence marketing within twelve months and construction anticipated to follow the Company’s Arbor project.

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Finbar Managing Director Darren Pateman said, “ Our company has confidence that the Springs precinct will continue to evolve into an exciting and desirable residential and commercial address and we are delighted to have secured this joint venture so that Finbar can continue to play an important role in developing the key Springs sites. ”

“This particular site is located on the main entrance to the Springs precinct and we will soon be engaging with statutory authorities to propose a scheme that we believe will provide an extraordinary entrance to the subdivision, and further revitalise the area with more employment and housing opportunities ,” he added.

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

Darren Pateman Professional Public Relations Managing Director James Harris Finbar Group Limited Tel: 08 9388 0944 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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