GARDA PROPERTY GROUP — Capital/Financing Update 2023

Dec 3, 2023

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GARDA Property Group

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

4 December 2023

CAIRNS OFFICE VALUATION

With the pending divestments of its Melbourne office portfolio[1] , GARDA Property Group ( GARDA ) independently revalued its only remaining commercial office property, Cairns Corporate Tower.

The capitalisation rate has increased 75 basis points to 7.75%, resulting in a modest $5.8 million (6.6%) decrease in value to $82.0 million.

The Cairns office market continues to perform strongly where our 14,758m² office property presents with 94% occupancy and a 3.7 year weighted average lease expiry.

GARDA will also independently value the Richlands industrial development upon its practical completion, expected in late December 2023.

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Authorised for release by: Matthew Madsen (Executive Chairman)

For more information please contact:

Paul Brown

Head of Treasury and Investor Relations GARDA Property Group Phone: 07 3002 5362 pbrown@gardaproperty.com.au

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