DGAP-Adhoc

Dexus Finance Pty Limited: Update in relation to the merger of DWPF with AMP Capital Diversified Property Fund

DGAP-Ad-hoc: Dexus Finance Pty Limited / Key word(s): Acquisition/Merger Dexus Finance Pty Limited: Update in relation to the merger of DWPF with AMP Capital Diversified Property Fund 27-Apr-2021 / 08:04 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

Dexus (ASX: DXS)

ASX release

27 April 2021

Update in relation to the merger of DWPF with AMP Capital Diversified Property Fund

Dexus provides an update in relation to the merger of Dexus Wholesale Property Fund ("DWPF" or "the Fund") with AMP Capital Diversified Property Fund ("ADPF") following the Unitholder meetings that were held today to vote on the merger proposal.

This follows Dexus and DWPF entering into an Implementation Agreement with the Independent Board Committee of ADPF on behalf of the Responsible Entity of ADPF ("ADPF RE"), which was announced to the Australian Securities Exchange on 16 March 2021 following discussions with the ADPF RE and engagement with ADPF Unitholders over a six-month period.

Unitholders in both DWPF and ADPF have approved the merger, establishing the pathway to create an enhanced investment proposition for both sets of unitholders.

ADPF is currently a circa $5.4 billion^[1] high-quality diversified property fund that invests in the office, retail and industrial sectors. The overall sector allocation and portfolio quality is comparable to the DWPF portfolio.

The portfolio includes investments in assets such as Quay Quarter Tower, Sydney (50% interest) which is currently under construction, 309-321 Kent Street, Sydney (50% interest, with remaining 50% co-owned by Dexus), Westfield Booragoon Shopping Centre, Perth (50% interest) and Westfield Warringah Mall, Brookvale, Sydney (25% interest) along with a diversified portfolio of industrial assets.