RURAL FUNDS GROUP — Director's Dealing 2017

Nov 7, 2017

Rule 3.19A.2

Revised 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
Rural Funds Trust and RF Active a stapled entity trading as Rural Funds Group
(ASX: RFF)
ABN
RFM 65 077 492 838; Rural Funds Trust 58 916 212 858; RF Active 18 611 617 622

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	David Anthony Bryant
Date of last notice	29 August 2017

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 indirect interest	indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	DA & BM Bryant Nil units,DA & BM Bryant <bfs investment="" trust<br="">#2> Nil units,BryantFamily Services Pty Ltd <bfsSuperannuation Fund> 2,555,941 units,D Bryant ATF J Bryant 11,734 units, andRural Funds Management Ltd 9,110,507units</bfs
Date of change	1 November 2017
No. of securities held prior to change	11,678,182 units
Class	Ordinary units
Number acquired	Nil
Number disposed	Nil

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$881,890.66 ($2.18 per security)
No. of securities held after change	11,678,182
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Off market transfer of units betweenrelated entities

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 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 detailedabove traded during a +closed periodwhere prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	-
If prior written clearance was provided, on what date was thisprovided?	-

+ See chapter 19 for defined terms.