RURAL FUNDS GROUP — Director's Dealing 2021

Jul 27, 2021

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
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	17 March 2020

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.	BryantFamilyServicesPtyLtd<bfsSuperannuation Fund> 3,580,012units,D Bryant ATF J Bryant 18,791units, andRural Funds Management Ltd 11,843,659units</bfs
Date of change	22July2021
No. of securities held prior to change	15,238,034units
Class	Ordinary units
Number acquired	204,428
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$2.47per unit
No. of securities held after change	15,442,462

+ See chapter 19 for defined terms.

Nature of change	Units issued under the Retail Entitlement
	Offer

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

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 duringthis period?	-
If prior written clearance was provided, on what date was thisprovided?	-

+ See chapter 19 for defined terms.