PEET LIMITED — Capital/Financing Update 2009

Mar 26, 2009

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Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email perth@peet.com.au

www.peet.com.au

27 March 2009

Australian Stock Exchange Limited Exchange Centre Level 4 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

NOTICE UNDER SECTION 708AA(2)(f) OF THE CORPORATIONS ACT 2001 AS NOTIONALLY MODIFIED BY ASIC CLASS ORDER 08/35

Peet Limited (ABN: 56 008 665 834) (“Peet”) has announced a pro-rata, non-renounceable accelerated rights issue to eligible shareholders ( Offer ) to subscribe for 1 new ordinary share in Peet for every 3 existing ordinary shares ( New Shares ) as held at 4.00pm WST on Wednesday 1 April 2009 to raise from approximately $64.4 million – up to $81.5 million.

Peet gives notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Act ) as modified by ASIC Class Order 08/35 ( CO 08/35 ) that:

• (a) Peet will offer the New Shares for issue without disclosure to investors under Part 6D.2 of the Act and without a prospectus for the New Shares being issued or lodged with ASIC;

• (b) this notice is being given under section 708AA(2)(f) of the Act as notionally modified by CO 08/35;

• (c) as at the date of this notice, Peet has complied with:

  • 1. the provisions of Chapter 2M of the Act as they apply to Peet; and
  • 1. section 674 of the Act as it applies to Peet;

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Act as notionally modified by CO 08/35; and

Perth | Melbourne | Brisbane Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772 | Licensed Real Estate Agent in WA

www.peet.com.au

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Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email perth@peet.com.au

• (e) the potential effect that the issue of Shares will have on the control of Peet, and the consequences of that effect, will depend on a number of factors, including investor demand. A related party of Mr AW Lennon (Chairman of the Company) has committed to take up 8.5 million of its entitlement shares under the Offer. As a result, the maximum effect on the control of the Company resulting from the Offer would be a decrease in the voting power of Mr Lennon from 31.49% to 26.49%. This degree of dilution will only occur if all of the retail shareholders elect to take up their entitlement to New Shares under the Offer.

Yours sincerely

PEET LIMITED

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DOM SCAFETTA COMPANY SECRETARY

Perth | Melbourne | Brisbane

Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772 | Licensed Real Estate Agent in WA