QUALITAS LIMITED — Director's Dealing 2023

May 9, 2023

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

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 Fairley AM
Date of last notice	5 April 2023

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.

	Direct or indirectinterest	Direct and indirect interests
Nature of indirectinterest(including registeredholder)Note: Provide details of thecircumstances giving rise tothe relevant interest.	Nature of indirectinterest(including registeredholder)Note: Provide details of thecircumstances giving rise tothe relevant interest.	1) Ordinary shares in the Cname of Boroko Pty LtdBurnewang Holdings PtRelevant interest arisin(Cth) by virtue of the poPty Ltd as trustee for thPty Ltd as trustee for ththe securities.	ompany (QAL Ordinary Shares) registered in thas trustee for the Fairley Super Scheme andy Ltd as trustee for the Fairley Investment Trust.g under section 608(3) of the Corporations Act 2wer to control the exercise of the right of Boroe Fairley Super Scheme and Burnewang Holdinge Fairley Investment Trust to vote and dispose o
		2) Units in Qualitas Real Ei th f Bk	state Income Fund (ASX:QRI) (QRI Units) registet Ltd tt f th Fil S Sh
		n e name o orooGoulburn Valley Broadcsection 608(3) of the Cocontrol the exercise of tSuper Scheme and Goudispose of the securitie	y as rusee or e arey uper cemeasters Pty Ltd. Relevant interest arising underrporations Act 2001 (Cth) by virtue of the powehe right of Boroko Pty Ltd as trustee for the Failburn Valley Broadcasters Pty Ltd to vote ands.
		Notified in accordance	with a Company internal policy requiring direct

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Date of change	5 May 2023
No.ofsecuritiesheld prior to change	1) 20,000 QAL Ordinary Shares registered in the name of Boroko Pty Ltd astrustee for the Fairley Super Scheme.2) 187,400 QAL Ordinary Shares registered in the name of BurnewangHoldings Pty Ltd as trustee for the Fairley Investment Trust.3) 50,000 QAL Ordinary Shares registered in the name of Andrew Fairley AM.4) 142,729 QRI Units registered in the name of Boroko Pty Ltd as trustee forthe Fairley Super Scheme.
Class	1) Ordinary Shares in the Company (QAL Ordinary Shares)2) Units in Qualitas Real Estate Income Fund (ASX:QRI) (QRI Units)
Number acquired	25,589 QRI Units registered in the name of Goulburn Valley Broadcasters PtyLtd.
Number disposed	Nil.
Value/ConsiderationNote: If consideration isnon-cash, provide detailsand estimated valuation	$1.4876 per QRI Unit.
No.ofsecuritiesheld after change	1) 20,000 QAL Ordinary Shares registered in the name of Boroko Pty Ltd astrustee for the Fairley Super Scheme.2) 187,400 QAL Ordinary Shares registered in the name of BurnewangHoldings Pty Ltd as trustee for the Fairley Investment Trust.3) 50,000 QAL Ordinary Shares registered in the name of Andrew Fairley AM.4) 142,729 QRI Units registered in the name of Boroko Pty Ltd as trustee forthe Fairley Super Scheme.5) 25,589 QRI Units registered in the name of Goulburn Valley BroadcastersPty 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.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

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

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow thetrade to proceed during this period?	N/A
If prior written clearance was provided, on what date wasthis provided?	N/A

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3