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GARDA PROPERTY GROUP Capital/Financing Update 2023

Dec 7, 2023

64972_rns_2023-12-07_85ad3868-3776-479a-b7da-e46e09669337.pdf

Capital/Financing Update

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GARDA Property Group

Level 21, 12 Creek Street W gardaproperty.com.au Brisbane QLD 4000 E [email protected] GPO Box 5270 P +61 7 3002 5300 Brisbane QLD 4001

8 December 2023

HAWTHORN EAST SALE COMPLETION

GARDA Property Group (GARDA) has settled the sale of 8-10 Cato Street, Hawthorn East for $24.1 million, representing a 3.6% discount to the December 2022 independent valuation.

Net sale proceeds have been applied to repay drawn variable debt facilities to approximately $247 million, providing $43 million of headroom. Additional repayment of variable debt will occur upon the successful sale of Botanicca 7 and 9 which will result in GARDA’s exit from the Melbourne office market.

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Authorised for release by: Matthew Madsen (Executive Chairman)

For more information please contact: