GDI PROPERTY GROUP — Capital/Financing Update 2023

Jan 16, 2023

17 JANUARY 2023

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ASX ANNOUNCEMENT

FURTHER LEASING AT WS2

GDI[1] is pleased to announce that a second tenant has signed a Heads of Agreement[2] at its new development, WS2, in Perth. WS2 is an approximately 9,500sqm office building being constructed from a combination of steel and timber on top of the existing carpark at Westralia Square. This second Heads of Agreement is for three floors comprising approximately 2,600sqm. Including the Heads of Agreement announced in early January, this second tenant commitment means five of the 11 floors at WS2 are now subject to Heads of Agreement.

GDI has also executed another full floor Heads of Agreement[2] at 197 St Georges Terrace, Perth.

Mr Steve Gillard, Managing Director at GDI, stated that he was very pleased with the continued leasing momentum. “We had a strong end to 2022 and it is very heartening that this momentum has continued into 2023. WS2 is a unique product in the market and it is reassuring that there remains strong interest in the remaining floors from potential tenants. We are also in active negotiations with potential tenants for further space at 197 St Georges Terrace, and also 1 Adelaide Terrace (GDI No. 36 Perth CBD Office Trust) and are hopeful that more leasing transactions can be progressed in the coming weeks”, Mr Gillard stated.

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

Authorised for release by David Williams, Company Secretary

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

1. The heads of agreement are subject to formal lease documentation.

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