Munroe Lane Agreement now unconditional

NZX RELEASE

30 October 2020

Munroe Lane Agreement now unconditional

Asset Plus (NZX: APL) is pleased to confirm that it has signed amended facility agreements with BNZ reflecting the
key terms previously advised as part of the recent capital raising.

As a result, APL has now satisfied the funding and shareholder approval condition in the Agreement to Develop and
Lease with Auckland Council and that agreement is unconditional.

Ground works for the development, including excavation, are commencing on Monday, 2 November.

-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