PEET LIMITED — Capital/Financing Update 2016

May 17, 2016

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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

18 May 2016

Notification of interest payment and maturity of Peet Convertible Notes

Peet Limited (“ Peet ”) has today lodged an Appendix 3A.2 – Notification of interest payment & interest rate change (“ Appendix 3A.2 ”) in respect to the final interest payment to be made on the Peet Convertible Notes issued in 2011 and maturing 16 June 2016 (“ Peet Convertible Notes ”). The Interest Payment Date is 16 June 2016. You should refer to the Appendix 3A.2 for further details of the interest payment and the record date.

Peet advises Peet Convertible Notes holders that the Peet Convertible Notes will mature on 16 June 2016, with the principal to be repaid on that date, subject to an Eligible Peet Convertible Notes holder electing to participate in the Reinvestment Offer, which is explained below.

Peet announced an offer of Series 1, Tranche 1 Peet Bonds (the “ Peet Bonds ”) on 3 May 2016 (“ Offer under an original Offer Specific Prospectus and Base Prospectus dated 2 May 2016. On 10 May 2016 Peet lodged with the Australian Securities and Investments Commission a replacement Offer Specific Prospectus (“ Replacement Offer Specific Prospectus ”), which, among other things, updated the size of the Offer to $100 million, with the ability to raise more or less. One of the purposes for funds raised under the Offer will be to refinance the Peet Convertible Notes.

The Offer comprises, among other things, a Reinvestment Offer to Eligible Peet Convertible Notes holders. Further details on the Reinvestment Offer and on who qualifies as an “Eligible Peet Convertible Notes holder” can be found in section 4.2 of the Replacement Offer Specific Prospectus.

Under the Reinvestment Offer, which is currently open and is expected to close at 5.00pm (Perth time) on Friday, 27 May 2016:

• Eligible Peet Convertible Notes holders have the opportunity to subscribe for Peet Bonds by selling to Peet some or all of their Peet Convertible Notes;

• Eligible Peet Convertible Notes holders who elect to participate in the Reinvestment Offer will sell their Peet Convertible Notes to Peet for $100 plus the “Accrued Interest Amount” (please see below for further details) per Peet Convertible Note sold to Peet; and

• $100 of the proceeds of the sale of a Peet Convertible Note to Peet will be applied to fund the subscription for a Peet Bond and the participating Eligible Peet Convertible Notes holder will receive an amount per Peet Convertible Note sold equal to the sum of the Accrued Interest Amount.

The “Accrued Interest Amount” is an amount per Peet Convertible Note payable to each Eligible Peet Convertible Note holder who elects to participate in the Reinvestment Offer in compensation for the interest the holder would have received for the 174 day period from (and including) 16 December 2015 to (but excluding) the Issue Date for the Peet Bonds (expected to be 7 June 2016) (the “Stub Period”). The Accrued Interest Amount will be calculated on the Peet Convertible Notes current coupon of 9.5 per cent per annum for the Stub Period. Assuming the Issue Date is 7 June 2016 and based on an interest rate applicable to the Stub Period of 9.5 per cent per annum, the Accrued Interest Amount would be $4.5288 per Peet Convertible Note.

For investor inquiries, call: For media inquiries, call: Brendan Gore Marie Mills Managing Director and Chief Executive Officer Mills Wilson Peet Limited (08) 9421 3600, 0418 918202 (08) 9420 1111 mariem@millswilson.com.au

Perth | Melbourne | Brisbane | Canberra | Adelaide | Darwin Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834