REEF CASINO TRUST — M&A Activity 2013

Nov 12, 2013

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13 November 2013

Market Announcements Australian Securities Exchange PO Box H224 AUSTRALIA SQUARE NSW 1215

Dear Sir

Proposal to acquire all the units in Reef Casino Trust received

Reef Corporate Services Limited as responsible entity for the Reef Casino Trust advises that the Reef Casino Trust is in discussions with Aquis Casino Acquisitions Pty Ltd ACN 166 108 701 ( Aquis ), a company associated with the Tony Fung family, following receipt of a confidential non-binding indicative proposal from Aquis to acquire all of the units in Reef Casino Trust at a cash price of $4.354 per unit.

The proposal is subject to a number of conditions, including the completion of satisfactory due diligence, entry into definitive transaction documents and obtaining regulatory approvals. The Board of Reef Corporate Services Limited has established a committee of independent directors to consider the proposal. The independent directors have granted Aquis access to due diligence materials.

A further condition of the proposal is that Aquis acquire Casinos Austria International (Cairns) Pty Ltd, the operator of The Reef Hotel Casino, and Reef Corporate Services Limited. These acquisitions are in turn subject to Aquis acquiring Casino Canberra Limited.

Casino Canberra Limited is a wholly-owned subsidiary of Casinos Austria International Ltd. Casinos Austria International Ltd also holds, together with Accor Group, 100% of the shares in the operator of The Reef Hotel Casino and Reef Corporate Services Limited.

Reef Corporate Services Limited understands that Casinos Austria and Accor Group, who collectively have a relevant interest in more than 70% of the units in the Reef Casino Trust, have indicated that they would support the proposal if it proceeds and in the absence of a superior proposal.

Aquis has advised Reef Casino Trust that Aquis is initiating meetings with the Queensland and Australian Capital Territory governments and with regulatory authorities regarding the proposal, including to commence the probity clearance process that is a pre-requisite for Aquis to own and operate casinos at The Reef Hotel Casino and the Canberra Casino.

Reef Casino Trust will keep unitholders informed of any material developments and the Board notes that unitholders do not need to do anything at this stage.

Yours sincerely

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Alison Galligan Company Secretary Reef Corporate Services Limited Responsible Entity, Reef Casino Trust

Registered Office Level 1 Mercure Hotel 85-87 North Quay Brisbane QLD 4000 PO Box 12072 George Street Brisbane QLD 4003 Telephone: +61 7 3211 3000 Facsimile: +61 7 3211 4777

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