GDI PROPERTY GROUP — Capital/Financing Update 2017

Aug 17, 2017

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ASX ANNOUNCEMENT

17 AUGUST 2017

SALE OF 66 GOULBURN STREET, SYDNEY

GDI Property Group[1] is pleased to advise that it has exchanged contracts[2] to sell 66 Goulburn Street, Sydney, for $252.0 million. After selling costs and settlement adjustments, the sale is expected to net GDI Property Group approximately $228.0 million. GDI Property Group acquired 66 Goulburn Street, Sydney (the Property), in July 2014, for $136.0 million. At the time the 23,000sqm property had over 6,000sqm of vacancy and a number of August 2016 expiries, the largest of which was a single 10,432sqm tenant expected to (and subsequently did) vacate. Since that time GDI Property Group has leased, renewed or agreed to lease all of the Property’s net lettable area.

Mr Steve Gillard, Managing Director of GDI Property Group, commented that this was an excellent result that again demonstrated the GDI Property Group business model can add significant value to securityholders. “When we purchased 66 Goulburn Street, Sydney, in July 2014, we anticipated a pick up in leasing demand in the Sydney CBD and we wanted a property that could attract strong tenant demand. 66 Goulburn Street has four sides of natural light, easily divisible floor plates and we were able to purchase it for well below replacement cost. In addition, it had immediate vacancy and an expiry profile that enabled us to capitalise on what we thought would be an improving Sydney CBD leasing market. Since then we’ve leased or agreed to lease 100% of the Property’s NLA and increased its weighted average lease expiry profile to over 5 years” Mr Gillard stated.

Settlement of the sale is expected to occur on or around 19 October 2017. GDI Property Group will release its FY17 annual results on Monday 21[st] August, 2017, and will comment on the use of funds and impact on FY18 earnings at that time.

Media Enquiries:

Steve Gillard Managing Director +61 2 9223 4222

David Williams Chief Financial Officer +61 2 9223 4222

steve@gdi.com.au

david@gdi.com.au

1. GDI Property Group comprises the stapled entities GDI Property Group Limited (ACN 166 479 189) and GDI Property Trust (ARSN 166 598 161)

2. Subject to Foreign Investment Review Board approval

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