Share Purchase Plan Offer Opens

Investore Property Limited (Investore) is pleased to announce the opening of its $15 million share purchase plan which forms part of its $100 million capital raising announced on 29 April 2020. Investore has the ability to accept additional applications of up to $5 million at its discretion. Eligible shareholders will receive their personalised application forms to apply for up to a maximum of $50,000 of new shares per shareholder at an issue price equal to the lower of: (a) $1.65 per new share (being the same issue price as the Placement undertaken on 29 April 2020); and (b) a 2.5% discount to the volume weighted average market price of Investore's shares over the five business days prior to the closing of the share purchase plan. Shareholders can apply online at www.shareoffer.co.nz/investore until 5.00pm (NZT) on 14 May 2020. The share purchase plan offer document will be sent to eligible shareholders today and can be found at www.shareoffer.co.nz/investore. Online applications at www.shareoffer.co.nz/investore are strongly encouraged given the likelihood of delays with the postal system at this time. Record Date: 5.00pm (NZ time) 28 April 2020 Announcement of Offer: 29 April 2020 Share Purchase Plan Opening Date: 5 May 2020 Offer Document and Application Form sent to eligible shareholders: 5 May 2020 Share Purchase Plan Closing Date (last day for online applications, or for receipt of an Application Form, with payment): 14 May 2020, 5pm Allotment of new shares under the Share Purchase Plan and commencement of trading: 20 May 2020 These dates are subject to change and are indicative only. Investore reserves the right to amend this timetable (including by extending the Share Purchase Plan Closing Date) subject to applicable laws and the Listing Rules. Investore reserves the right to withdraw the Share Purchase Plan and the issue of new shares under it at any time before the date of allotment at its absolute discretion. Ends Attachments provided to NZX: o Investore Property Limited - Share Purchase Plan Offer Opens - 050520 o Investore Property Limited - Share Purchase Plan Offer Document - 050520 o Investore Property Limited - Share Purchase Plan Application Form - 050520 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:00352661 For:IPL Type:OFFER Time:2020-05-05 08:52:06