REEF CASINO TRUST — Capital/Financing Update 2021

Dec 13, 2021

14 December 2021

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Market Announcements Office

Australian Securities Exchange PO Box H224 AUSTRALIA SQUARE NSW 1215

Estimated distribution for the six months ended 31 December 2021

Update on operating results for the year ended 31 December 2021

Estimated distribution for the six months ended 31 December 2021

Reef Casino Trust (RCT) has today announced that the estimated distribution for the six months 1 July 2021 to 31 December 2021 is 16.58 cents per unit (or approx.$8.3 million in total).

The estimated distribution reflects RCT’s distribution policy to distribute 100% of distributable profit*.

The actual distribution will be decided and approved at the Reef Casino Trust board meeting to be held towards the end of February 2022 following the approval of the audited results.

As the actual distribution for the first half year was 12.29 cents per unit, the total distribution for the full year 2021 is estimated to be 28.87 cents per unit which equates to approximately $14.4 million in distributable profit* for the year.

Update on operating results for the year ended 31 December 2021

The Trust has had a strong year 2021 to date with strong rental income received from the Reef Hotel Casino.

With slightly more than 2 weeks’ trading to go before the end of the financial year, our current estimate of the distributable profit* for the full year 2021 is approximately $14.4 million.

In the 1[st] half year, the Trust reported a distributable profit of $6.1 million. In the 2nd half, the Trust distributable profit is estimated to be $8.3 million.

The casino performed strongly in 2021 to date. Complex food and beverage also performed well. During most of the 2[nd] half year, the closure of Queensland State borders to NSW and Victoria has particularly impacted Hotel room performance which is dependent on the status of the State borders. International borders remain closed.

The Reef Hotel Casino continues to operate by reference to a site specific COVID Safe Plan approved by Queensland Health. This plan has been amended over time as restrictions change. From 17 December 2021, a mandatory vaccination policy applies for employees and patrons.

REEF CASINO TRUST

ARSN 093 156 293

Responsible Entity -

Reef Corporate Services Limited
ABN 66 057 599 621, AFSL 246699

Addressing for invoicing Reef Hotel Casino 35-41 Wharf Street Cairns QLD 4870 PO Box 7320 Cairns QLD 4870 Telephone: +61 7 4030 8888 Facsimile: +61 7 4030 8831

Registered Office Level 3 Sofitel Hotel 249 Turbot Street Brisbane QLD 4000 PO Box 12072 George Street Brisbane QLD 4003 Telephone: +61 7 3211 3000 Facsimile: +61 7 3211 4777

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The estimated net profit for the full year 2021 is approximately $7.2 million after deducting distributions to unitholders, estimated to be approximately $7.2 million (which form part of the distributable profit*), which have been treated as finance costs in accordance with IFRS.

Authorised by the board.

Enquiries/further information please contact

Allan Tan Executive Director

Reef Corporate Services Limited Responsible Entity, Reef Casino Trust +61 7 3211 3000 allant@reefcasino.com.au

• Distributable profit is a non-IFRS measure that is determined in accordance with the Trust Constitution and used as the basis for determining distributions to unitholders. Distributable profit is determined as net profit for the period, adding back distributions to unitholders which have been treated as finance costs in accordance with IFRS. The estimated distributable profit has not been audited.

REEF CASINO TRUST ARSN 093 156 293

Responsible Entity -

Registered Office Level 3 Sofitel Hotel 249 Turbot Street Brisbane QLD 4000 PO Box 12072 George Street Brisbane QLD 4003 Telephone: +61 7 3211 3000 Facsimile: +61 7 3211 4777

Addressing for invoicing Reef Hotel Casino 35-41 Wharf Street Cairns QLD 4870 PO Box 7320 Cairns QLD 4870 Telephone: +61 7 4030 8888 Facsimile: +61 7 4030 8831

Reef Corporate Services Limited
ABN 66 057 599 621, AFSL 246699