GARDA PROPERTY GROUP — Share Issue/Capital Change 2017

Mar 20, 2017

ASX Announcement / Media Release

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GARDA Diversified Property Fund (GDF)

21 March 2017

Completion of GDF Small Unitholding Sale Facility

GARDA Capital Limited as responsible entity of GARDA Diversified Property Fund (ASX: GDF) announces that it has completed the small holding sale facility ( Sale Facility ) in accordance with the terms and conditions announced on 10 January 2017.

The volume weighted average price of all GDF units sold under the Sale Facility was $1.06 per unit.

Payment of proceeds from the Sale Facility to eligible and participating unitholders occurred on 16 March 2017 and statements have now been distributed.

If unitholders have any further questions, please contact GARDA Capital Group on (07) 3002 5362.

-Ends-

For more information please contact:

Matthew Madsen Paul Brown Managing Director Manager, Investor Relations GARDA Capital Limited GARDA Capital Limited Phone: 07 3002 5300 Phone: 07 3002 5362 matthew.madsen@gardacapital.com.au paul.brown@gardacapital.com.au

About GARDA Diversified Property Fund (ARSN 104 391 273)

GDF is an ASX listed real estate investment trust (REIT) which invests in commercial offices in city and suburban markets as well as industrial facilities along the eastern seaboard of Australia.

GDF currently holds eight established property assets independently valued at $183 million.

About GARDA Capital Limited

GARDA Capital Group is an ASX listed (ASX: GCM) real estate investment and funds management group. The GARDA Capital Group is co-invested in GDF holding a 8.9% stake.

GARDA Capital Limited is the responsible entity of GDF, is a member of the GARDA Capital Group and holds AFSL 246714 which permits it to act as the responsible entity for GDF.

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