Cleansing Notice

1. Investore Property Limited (Investore) announced on 29 April 2020 that it intends to undertake an offer of new ordinary shares in Investore by way of: (a) an underwritten placement to selected investors to raise approximately $100 million (Placement); and (b) a non-underwritten share purchase plan to eligible shareholders 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) (SPP), (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:00352271 For:IPL Type:OFFER Time:2020-04-29 08:39:53