Special Shareholder Meeting

On 19 November 2019, Investore Property Limited (Investore) announced that it had entered into conditional agreements for the proposed acquisition of three large format retail assets from Stride Property Limited (SPL) and SPL's wholly owned subsidiary, Stride Holdings Limited, for an acquisition price of $140.75 million (Transaction), at the following locations: o Bunnings Mt Roskill, Auckland; o Mt Wellington Shopping Centre, Auckland; and o Bay Central Shopping Centre, Tauranga. The Transaction remains subject to shareholder approval and Overseas Investment Office consent, with all other conditions and approvals otherwise having been satisfied, including due diligence and Investore Board approval. The Transaction is a Material Transaction for the purposes of the related party rules of the NZX Listing Rules and therefore subject to shareholder approval. A Special Meeting of Shareholders will be held to consider the Transaction on Thursday 16 January 2020, at 11.00 am (with access to the room from 10.30 am), at the Pullman Hotel, Corner of Princes Street and Waterloo Quadrant, Auckland, New Zealand. In connection with the Transaction, two additional resolutions will be presented to shareholders, seeking support to ratify the recently completed issue of ordinary shares under a placement and retail offer (Note 1). Attached is a copy of the: o Notice of Special Meeting; and o Appraisal Report for the proposed Transaction by Northington Partners Limited. Shareholders can either vote in person at the meeting or appoint a proxy to vote on their behalf, by returning the Proxy Voting Form so that it is received no later than 11.00 am on Tuesday, 14 January 2020. Note 1 - Only relates to those shares issued to eligible shareholders under the retail offer, in excess of the first $15,000 of shares. 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 and Company Secretary of Investore Mobile: 0275 580 033- Email: louise.hill@strideproperty.co.nz End CA:00345985 For:IPL Type:MEETING Time:2019-12-13 11:20:58