GARDA PROPERTY GROUP — Director's Dealing 2016

Feb 22, 2016

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23 February 2016

Ms Lisa Banh Adviser, Listing Compliance ASX Limited 20 Bridge Street Sydney NSW 2000

Dear Lisa

Re: Appendix 3Y – Change of Director’s Interest

Attached is an Appendix 3Y for Mr Mark Hallett in respect of GARDA Diversified Property Fund ( GDF ) units transferred on 4 September 2015.

The responsible entity of GDF was notified of the transfer by Mr Hallett, but through an administrative oversight of the de minimis amount of units transferred, an Appendix 3Y was not lodged within the time frame stipulated in the Listing Rules.

I note the GDF units were sold when GDF’s trading window was open.

The responsible entity of GDF and all Directors are aware of and understand the obligations under Listing Rules 3.19A and 3.19B.

Yours sincerely

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Leylan Neep Secretary GARDA Capital Limited

as responsible entity of the GARDA Diversified Property Fund

Level 21, 12 Creek Street, Brisbane QLD 4000[| ] GPO Box 5270, Brisbane QLD 4001 P. (07) 3002 5300[|] F. (07) 3002 5311[|] info@gardacapital.com.au

www.gardacapital.com.au

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity GARDA Diversified Property Fund ARSN 104 391 273

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Mark Hallett
Date of last notice	3 July 2015

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	6 Ordinary Units
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	N/A
Date of change	4 September 2015
No. of securities held prior to change	6 Ordinary Units
Class	Ordinary Units
Number acquired	N/A
Number disposed	6 Ordinary Units
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$6.00
No. of securities held after change	Nil

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Off market trade. Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

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Detail of contract N/A
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change
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Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a[+] closed period where prior written No clearance was required? If so, was prior written clearance provided to allow the trade N/A to proceed during this period? If prior written clearance was provided, on what date was this N/A provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011