Bond Offer – Interest Rate Set

Investore Property Limited ('Investore') has announced that, following a successful bookbuild for its offer of senior secured fixed rate 6 year bonds, $100 million of bonds have been allocated to participants in the bookbuild process. This includes oversubscriptions of $25 million (which is 100% of the amount available for oversubscription). The interest rate has been set at 4.40% per annum, which is the minimum interest rate set out in the Indicative Terms Sheet for the bonds dated 12 March 2018. The margin has been set at 1.50% per annum. The bonds are expected to be quoted on the NZX Debt Market under the ticker code IPL010. The Offer will open on 21 March 2018 and is scheduled to close on 12 April 2018. As announced previously, there is no public pool available for the Offer. A copy of the final terms sheet for the Offer is attached and is also available through www.investoreproperty.co.nz/bondoffer. Investore has lodged a Product Disclosure Statement ('PDS') with the Registrar of Financial Services Providers in New Zealand ('Registrar') and made available further information on the register of offers of financial products administered by the Registrar ('Register Entry') (the PDS and the Register Entry, together the 'Offer Materials') in respect of the Offer. The Offer Materials are available at www.companiesoffice.govt.nz/disclose under Investore's offer number (OFR12328). The Offer Materials contain details of the Offer and should be read before any investment decision is made. Investors should not subscribe for any bonds in Investore except on the basis of information in the Offer Materials. You should consult your financial and other advisers before making any investment in Investore. ENDS For further information please contact: Mike Allen, Chairman, Investore Property Limited Mobile: 021 606 134 - Email: mike.allen@investoreproperty.co.nz Philip Littlewood, Chief Executive Officer, Stride Investment Management Limited as manager of Investore DDI: 09 913 1122 - Mobile: 021 230 3026 - Email: philip.littlewood@strideproperty.co.nz Jennifer Whooley, Chief Financial Officer, Stride Investment Management Limited as manager of Investore DDI: 09 913 1150 - Mobile: 021 536 406 - Email: jennifer.whooley@strideproperty.co.nz Louise Hill, General Manager Corporate Services, Stride Investment Management Limited as manager of Investore and Company Secretary of Investore DDI: 09 976 0352 - Mobile: 0275 580 033- Email: louise.hill@strideproperty.co.nz About Investore o Investore is an established direct investor in large format retail property throughout New Zealand. o Investore is externally managed by Stride Investment Management Limited. o As at today's date, Investore owns 42 properties. Investore announced on 26 January 2018 and 2 March 2018 the unconditional sales of two properties. One of those sales is expected to settle today. On the expected issue date of the bonds, Investore expects to own 40 properties. o Anchor tenant brands include Countdown, Bunnings, PAK'nSAVE, New World, Mitre10, Animates and The Warehouse. o Investore's ordinary shares are listed on the NZX Main Board. Investore does not intend that the Bonds be offered for sale, and no action has been taken or will be taken to permit a public offering of Bonds, in any jurisdiction other than New Zealand. This document is not, and should not be construed as, an offer to sell or a solicitation of an offer to buy Investore bonds and may not be relied upon in connection with any purchase of Investore bonds. This document may not be published, delivered or distributed in or from any country other than New Zealand. The information in this document has been prepared by Investore solely for informational purposes and does not purport to be complete or comprehensive and does not constitute financial product, investment, tax or other advice. End CA:00315768 For:IPL Type:OFFER Time:2018-03-20 14:32:20