RAM ESSENTIAL SERVICES PROPERTY FUND — Capital/Financing Update 2021

Oct 21, 2021

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RAM Essential Services Property Fund Managed by RAM Property Funds Management Ltd (ABN 28 629 968 163; AFSL 514484) as responsible entity of the:

RAM Australia Retail Property Fund (ARSN 634 136 682); and; RAM Australia Medical Property Fund (ARSN 645 964 601).

ASX RELEASE

22 October 2021

SATISFACTION OF CONDITIONS FOR CONDITIONAL MARKET

Capitalised terms used and not defined in this ASX announcement have the meaning given to them in the replacement product disclosure statement lodged by RAM Property Funds Management Ltd as responsible entity of RAM Essential Services Property Fund and dated 13 October 2020.

1. Satisfaction of conditions for conditional market

RAM Property Funds Management (ABN 28 629 968 163; AFSL 514484) ( Responsible Entity ) as responsible entity of RAM Australia Retail Property Fund (ARSN 634 136 682) ( RARPF ) and RAM Australian Medical Property Fund (ARSN 645 964 601) ( RAMPF ) advises that the conditions for the conditional market have been satisfied, namely:

• a. settlement under the Offer;

• b. completion of redemption of existing unitholders of each Stapled Entity;

• c. implementation of equalisation and consolidation of existing units in each Stapled Entity; and

• d. allocation and issue of stapled securities to successful Applicants under the Offer.

2. Unconditional and normal settlement trading

Securities will commence trading on Friday, 22 October 2021 on an unconditional and normal settlement basis.

3. Despatch date

The Responsible Entity confirms that initial holding statements are expected to be despatched on or around 25 October 2021.

-ENDS-

For further information please contact:

Investors

investor.relations@ram.com.au

Authorised for release by the Board of the Responsible Entity