MUSTERA PROPERTY GROUP LIMITED — Capital/Financing Update 2021

Jun 21, 2021

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DESPATCH OF RIGHTS OFFER DOCUMENTS

22 JUNE 2021

ASX CODE: MPX

Mustera Property Group Ltd ACN 142 375 522 ( Mustera or the Company ) (ASX code: MPX ) is pleased to confirm that the Prospectus (including the Acceptance Form) lodged with ASIC and ASX on Thursday, 10 June 2021 for the non-renounceable rights issue of shares and options to raise approximately $8,716,967 million before costs ( Rights Offer ) has been despatched to Eligible Shareholders today.

DIRECTORS

Mr Nicholas Zborowski Executive Director

Mr Anthony Ho Non-Executive Director

Mr Jack Spencer-Cotton Non-Executive Director

COMPANY SECRETARY

Shareholders who are residents of Australia and New Zealand at the Record Date of Thursday, 17 June 2021 ( Eligible Shareholders ) are invited to participate in the Rights Offer on the basis of three (3) fully paid ordinary shares ( New Shares ) for every ten (10) Shares held, together with one (1) free-attaching unquoted option for every two (2) New Shares issued ( New Option ) ( New Securities ). The New Options are exercisable at $0.30 each within two (2) years from the date of issue.

In addition, the Company is offering Eligible Shareholders and new investors the New Securities which comprise the shortfall to the Rights Offer at the same issue price of $0.25 per New Share, with one (1) free-attaching New Option for every two (2) New Shares issued ( Shortfall Offer ) ( Offers ).

Joan Dabon

CAPITAL STRUCTURE

Ordinary Shares: 116.2M Options: 5.5M

COMPANY ENQUIRIES

Nicholas Zborowski Executive Director

The proceeds of the Offers will be used to fund the development of the Forbes Residences project in Applecross, Western Australia, progress development planning of other core assets in the Company’s property portfolio, augment general working capital, cover operating and administration overheads and defray the costs of the Offers.

Townshend Capital Pty Ltd (AFSL no. 219326) will act as the Lead Manager to the Offers and nominee to sell the entitlements of ineligible foreign shareholders pursuant to section 615 of the Corporations Act 2001 (Cth) .

The Rights Offer will close at 5:00 pm (WST) on Tuesday, 13 July 2021.

15 McCabe Street North Fremantle WA 6159

AUTHORISED BY

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

THE BOARD OF DIRECTORS

Mustera Property Group Ltd ACN 142 375 522