QUALITAS LIMITED — Director's Dealing 2022

Nov 13, 2022

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Qualitas Limited (Company)
ABN	46 655 057 588

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Andrew Schwartz
Date of last notice	4 October 2022

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Directorindirect	Indirect interests
interest
Natureofindirectinterest(including registeredholder)Note: Provide details of thecircumstances giving rise tothe relevant interest.	1)Ordinary Shares in the Company (Ordinary Shares) (registered in the name ofQPP Holdings Pty Ltd as trustee for QPP Holdings (AJS) Trust).Relevant interest arising under section 608(3) of the Corporations Act 2001 (Cth)by virtue of the power to control the exercise of the right of QPP Holdings PtyLtd as trustee for QPP Holdings (AJS) Trust to vote and dispose of the OrdinaryShares.
	2)Units in Qualitas Real Estate Income Fund (ASX:QRI) (QRI Units) registered in thename of Davtom Finance Pty Ltd.Relevant interest arising under section 608(3) of the Corporations Act 2001 (Cth)by virtue of the power to control the exercise of the right of Davtom Finance PtyLtd to vote and dispose of the QRI Units.
	Notified in accordance with a Company internal policy requiring directors of theCompany to provide notice of QRI Units held and changes to number of QRI Unitsheld.
Date of change	9 November 2022 and 10 November 2022

+ See chapter 19 for defined terms.

vRule 3.19A.2

No.ofsecuritiesheld prior to change	1)66,830,066 fully paid Ordinary Shares (44,553,377 of which remain subject tothe voluntary escrow arrangements outlined in section 7.7 of the Prospectusdated 29 November 2021) registered in the name of QPP Holdings Pty Ltd astrustee for QPP Holdings (AJS) Trust)2)882,922 QRI Units registered in the name of Davtom Finance Pty Ltd
Class	1)Ordinary Shares in the Company (Ordinary Shares)2)Units in Qualitas Real Estate Income Fund (ASX:QRI) (QRI Units)
Number acquired	100,000 QRI Units registered in the name of Davtom Finance Pty Ltd
Number disposed	Nil.
Value/ConsiderationNote: If consideration isnon-cash, provide detailsand estimated valuation	$1.42 per QRI Unit
No.ofsecuritiesheld after change	1)66,830,066 fully paid Ordinary Shares (44,553,377 of which remain subject tothe voluntary escrow arrangements outlined in section 7.7 of the Prospectusdated 29 November 2021) registered in the name of QPP Holdings Pty Ltd astrustee for QPP Holdings (AJS) Trust)2)982,922 QRI Units registered in the name of Davtom Finance Pty Ltd
Nature of changeExample: on-market trade,off-market trade, exercise ofoptions, issue of securitiesunderdividendreinvestmentplan,participation in buy-back	On market purchase of QRI Units.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder(if issued securities)
Date of change

+ See chapter 19 for defined terms.

No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation
Interest after change

Part 3 – +Closed period

Were the interests in the securities or contracts detailed	No
above traded during a +closed periodwhere prior written
clearance was required?
If so, was prior written clearance provided to allow the	N/A
trade to proceed during this period?
If prior written clearance was provided, on what date was	N/A
this provided?

+ See chapter 19 for defined terms.