Cleansing Notice

Notice Pursuant to Clause 20(1)(a) of Schedule 8 to the Financial Markets Conduct Regulations 2014 1. Investore Property Limited (Investore) announced on 19 November 2019 that it intends to undertake an offer of new ordinary shares in Investore by way of: (a) a fully underwritten placement to selected investors to raise approximately $65 million; and (b) a share offer to eligible investors with addresses in New Zealand to raise up to $15 million (with the ability to accept up to $5 million in oversubscriptions at Investore's discretion), (the Offer). 2. The Offer is being made to investors in reliance upon the exclusion in clause 19 of Schedule 1 to the Financial Markets Conduct Act 2013 (the FMCA). 3. This notice is provided under subclause 20(1)(a) of Schedule 8 to the Financial Markets Conduct Regulations 2014 (the Regulations). 4. As at the date of this notice: (a) Investore is in compliance with the continuous disclosure obligations that apply to it in relation to the ordinary shares in Investore; (b) Investore is in compliance with its financial reporting obligations (as defined in subclause 20(5) of Schedule 8 to the Regulations); and (c) there is no information that is "excluded information" (as defined in subclause 20(5) of Schedule 8 to the Regulations). 5. The Offer is not expected to have any material effect or consequence on the "control" (as defined in clause 48 of schedule 1 to the FMCA) of 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 Mobile: 021 230 3026 - Email: philip.littlewood@strideproperty.co.nz Jennifer Whooley, Chief Financial Officer, Stride Investment Management Limited as manager of Investore Mobile: 021 536 406 - Email: jennifer.whooley@strideproperty.co.nz Louise Hill, General Manager Corporate Services, Stride Investment Management Limited as manager of Investore Mobile: 0275 580 033- Email: louise.hill@strideproperty.co.nz End CA:00344521 For:IPL Type:OFFER Time:2019-11-19 09:10:26