GPT GROUP — Capital/Financing Update 2014

Sep 10, 2014

11 September 2014

Not for release or distribution within the United States.

The GPT Group seeks listing of the Metropolitan Office Fund

Consistent with its strategy of growing earnings from its Funds Management business, The GPT Group (GPT) today announces it has begun engaging with investors on the creation of a new ASX listed real estate investment trust, the GPT Metro Office Fund (The Fund). The Fund would own a quality portfolio of six A-grade metropolitan and business park office properties across Sydney, Brisbane and Melbourne independently valued at approximately $376 million.

The GPT Metro Office Fund would have the following characteristics:

• 6.3 year weighted average lease expiry,

• 7.7 per cent capitalisation rate,

• 100 per cent occupancy,

• Average building age of 3.5 years,

• Gearing of 35 per cent, and

• Expected Distribution Yield for the period from Allotment to 30 June 2015 of approximately 7.40 per cent per annum.

The Fund would comprise of the following A-grade metropolitan and business park office properties:

• Optus Centre, 15 Green Square Close, Fortitude Valley, QLD

• Vantage, 109 Burwood Road, Hawthorn, VIC

• Quad 2, Quad Business Park, Sydney Olympic Park, NSW

• Quad 3, Quad Business Park, Sydney Olympic Park, NSW

• 5 Murray Rose, Sydney Olympic Park, NSW

• 3 Murray Rose, Sydney Olympic Park, NSW (Under development)

The Fund’s Responsible Entity would be GPT Platform Limited (GPT Platform), a member of The GPT Group. GPT Platform would be entitled to annual management fees of 60 basis points of the Gross Asset Value of the Fund, for acting as the responsible entity of the Fund. The fee would be calculated and charged each half year.

The Board of the Responsible Entity would comprise a majority of independent directors to provide oversight of the management and investment decisions of the Fund.

It is likely GPT would subscribe for at least 10 per cent of the issued Units at Allotment, and eligible GPT securityholders would have the opportunity to subscribe for Units in the Fund under a priority allocation.

The GPT and GPT Platform Boards' final decision to proceed with an Offer is subject to market conditions, whereupon it is expected that GPT Platform, as issuer, would lodge a Product Disclosure Statement (PDS) for an offer of Units in the Fund with ASIC on 1 October 2014. The PDS would be available to be downloaded from GPT Metro Office Fund’s website at www.gptmetroofficefund.com.au from 9.00am (Sydney time) Friday, 10 October 2014. People should consider the PDS in making any decisions in connection with whether to acquire Units in the Fund.

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GPT is being advised by UBS (Lead Manager) and Allens (Legal Adviser). National Australia Bank Limited, Morgans Financial Limited and Ord Minnett Limited are acting as Co-Lead Managers.

For more information, please contact:

Amanda Caucino Brett Zarb Investor Relations Manager Group Media Manager +61 2 8239 3722 +61 2 8239 3979 +61 428 043 053 +61 417 256 563

This announcement has been prepared for publication in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer of securities for sale in the United States or any other jurisdiction. Any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933 or an exemption from registration.

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