MUSTERA PROPERTY GROUP LIMITED — Capital/Financing Update 2017

May 21, 2017

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MUSTERA SECURES APPLECROSS SITE

ASX Announcement

22 May 2017

ASX CODE: MPX

DIRECTORS

Mr Nicholas Zborowski Executive Director

Mr Anthony Ho Non-Executive Director

Mr Benjamin Young Non-Executive Director

Mr Jack Spencer-Cotton Non-Executive Director

CAPITAL STRUCTURE

Ordinary Shares: 91.4M Options: 14.0M

ABN 13 142 375 522

15 McCabe Street North Fremantle WA 6159

T : +61 8 9386 7069 F : +61 8 6389 0635 E : info@mustera.com.au W : www.mustera.com.au

Mustera Property Group Ltd (ASX: MPX) (“ Mustera ” or “ the Company ”) is pleased to announce that it has entered into a binding agreement to acquire two prime adjacent properties in Applecross in the City of Melville with a combined total land area of 2,023m[2] .

The properties are located at 10-14 Forbes Road and 40A, B, C Kishorn Road, Applecross (together, “the Property”). Upon completion of the acquisition and its funding arrangements, Mustera will retain a 30% equity interest in the Property.

Mustera will manage the future development of the Property, contribute working capital and secure the required funding to deliver the project.

The prestigious corner site benefits from dual street frontage to Forbes and Kishorn Road and is set back from Canning Highway. On completion, the development will have expansive river and city views, providing a highly desirable Applecross address.

The Property is located in the Q1 Kintail Quarter of the Canning Bridge precinct and is zoned “Mixed Use”. The Q1 Kintail Quarter has been identified as the premier retail and entertainment destination within the precinct, with the preferred use being activated retail and food and beverage on the ground floor and residential apartments on the upper floors.

The aggregate purchase price of the Property is $7.61 million, with settlement to occur in two stages over the next 60 days. The acquisition will be funded by a combination of equity and debt.

Mustera will commence with design development shortly after settlement and will look to submit a development application for approval in the second half of 2017.

Nicholas Zborowski Executive Director

Company Enquiries:

Nicholas Zborowski – Executive Director T: +61 8 9386 7069 E: info@mustera.com.au

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