Graham Street lease extension – condition satisfied

NZX RELEASE

19 August 2020

Graham Street lease extension – condition satisfied

On 22 July 2020, Asset Plus (NZX: APL) announced entry into a conditional Deed of Lease for the basement and
ground floor of 35 Graham Street with Auckland Council for a fixed term from 28 June 2021 to 28 December
2021. The lease was conditional upon Auckland Council’s insurer’s approval to the lease by 19 August 2020.

Asset Plus is please to confirm that the above condition has now been satisfied and the Deed of Lease with
Auckland Council is now unconditional.

As noted in the 22 July 2020 announcement, the lease provides fixed additional income of $1 million, plus a
proportionate share of outgoings for Asset Plus, whilst preserving the ability to undertake soft strip-out,
investigative works, and internal refurbishment across the balance of the property during the extended lease
period.

-ENDS-

For further information contact:

Mark Francis
Managing Director, Augusta Funds
Management Limited, Manager of Asset Plus
09 300 6161

Stephen Brown-Thomas, Asset Plus and Development
Manager, Augusta Funds Management Limited,
Manager of Asset Plus
09 300 6161