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ASX Announcement - Australian Unity Office Fund

27 January 2022

Notice of Adjourned Meeting

Australian Unity Investment Real Estate Limited (AUIREL), as Responsible Entity of Australian Unity Office Fund (ASX: AOF) provides the attached Letter to Investors and Notice of Adjourned Meeting.

Authorised by:

Contact information

Liesl Petterd

Nikki Panagopoulos

Company Secretary

Fund Manager - AOF

Phone: +61 401 100 075

About AOF

AOF is an ASX-listed REIT that wholly owns a diversified portfolio of properties located across Australian metropolitan and CBD markets in Sydney, Adelaide, Melbourne, Brisbane and Canberra.

This announcement is issued by Australian Unity Investment Real Estate Limited

ABN 86 606 414 368 AFSL 477434 (AUIREL). AUIREL is owned equally by subsidiaries of Australian Unity Limited ABN 23 087 648 888 and Keppel Capital Holdings Pte Ltd

CRN 201302079N, the asset management arm of Singapore-based Keppel Capital Limited CRN 196800351N.

Issuer:

Registry Enquiries:

Australian Unity Investment Real Estate Limited

Australian Unity Office Fund Investor Services

271 Spring Street

1300 737 760 or

Melbourne VIC 3000

+61 2 9290 9600

ABN 86 606 414 368

(outside Australia)

AFSL: 477434

For personal use only

25 January 2022

Dear AOF Unitholder

On behalf of the board of directors of Australian Unity Investment Real Estate Limited (AUIREL) as responsible entity of Australian Unity Office Fund (ASX: AOF) I provide you with this update about AOF and enclose further information regarding the adjourned meeting of AOF Unitholders (Adjourned Meeting).

Over the course of 2021, the Board undertook a strategic assessment and sought to implement initiatives to deliver on AOF's key objectives of providing sustainable income returns and the potential for capital growth. These initiatives included the proposal to merge AOF with Australian Unity Diversified Property Fund (DPF), the 'Merger Proposal'.

On 17 January 2022 AOF announced that the Merger Proposal would not be proceeding. In that announcement AOF also provided an update on December 2021 preliminary property valuations and guidance for the financial year ending 30 June 2022 (FY22). These updates are set out further below.

While the Merger Proposal is no longer being pursued, the Board's focus on initiatives to maximise value for AOF Unitholders remains unchanged. These initiatives include:

  • Active portfolio management of the existing assets, including asset refurbishment and development at 10 Valentine Avenue, Parramatta and 30 Pirie Street, Adelaide, to deliver optimal leasing outcomes;
  • Exploring new partnerships to provide an opportunity to unlock value add initiatives at 2 - 10 Valentine Avenue, Parramatta;
  • Investigating further asset sales and options to return capital to AOF unitholders, including by way of buyback, special distribution(s) and a potential wind up of AOF; and
  • Assessment of other opportunities in conjunction with Australian Unity

December 2021 preliminary valuations

Preliminary independent valuations have been received for all seven assets held by AOF as at 31 December 2021. The valuations reflect an increase of approximately $10 million above prior independent valuations and approximately $4 million above the immediately preceding book value. The preliminary December 2021 total portfolio value of $586.5 million reflects a weighted average capitalisation rate of 5.74%.

FY22 guidance

AOF's FY22 Funds From Operations (FFO) guidance of 18.0 cents per unit - 18.5 cents per unit is confirmed. AOF's FY22 distribution guidance of 15.2 cents per unit excludes the impact of any special distributions that may be declared during FY22. FFO and distribution

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guidance are subject to no material change in AOF's portfolio, no material change in current market conditions and no unforeseen events.

Adjourned Meeting

AUIREL advises that it has withdrawn the two resolutions set out in AOF's Notice of Meeting dated 15 November 2021.

Included with this letter is the Notice of Adjourned Meeting and Proxy Form, which are required to be provided to AOF Unitholders. The Adjourned Meeting will now be held as a virtual meeting on Friday 11 February 2022 at 1:00pm AEDT solely for the purposes of concluding the meeting as no items of business remain on the agenda. There is no requirement for AOF Unitholders to attend the Adjourned Meeting.

Further information on the Adjourned Meeting including the Online Unitholders' Meeting Guide is available on AOF's website at the following link.

Further information

AOF expects to release its results for the half year to 31 December 2021 on Tuesday, 22 February 2022. This will be a further opportunity to provide you with an update on your investment in AOF.

If you have any questions about this letter please contact the AOF Unitholder Information Line on 1300 158 729 (within Australia) or +61 2 9066 4058 (outside Australia), between 9.00am and 5.00pm Monday to Friday (Sydney time).

Thank you for your investment in AOF.

Peter Day

Independent Non-Executive Director and Chairman

Important information

Units in the Australian Unity Office Fund (AOF) are issued by Australian Unity Investment Real Estate Limited (AUIREL) ABN 86 606 414 368 AFS Licence number 47434 AUIREL is owned equally by subsidiaries of Australian Unity Limited ABN 23 087 648 888 and Keppel Capital Holdings Pte Ltd CRN 201302079N, the asset management arm of Singapore-basedKeppel Corporation Limited CRN 196800351N.

The information in this communication is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, re-transmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and permanently delete the material from your computer system. We cannot guarantee that this e-mail is virus-free. You should scan attachments with the latest virus scan before opening. We will not be liable for any loss, cost or damage of any kind whatsoever caused by any receipt or use of this e-mail and attachments.

AUIREL respects your privacy - you can view our privacy policy on our website Privacy Policy.

AUIREL, 271 Spring St, Melbourne, Victoria 3000.

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Australian Unity Office Fund

25 January 2022

NOTICE OF ADJOURNED MEETING

Notice is hereby given by Australian Unity Investment Real Estate Limited (ACN 606 414 368) (AOF RE) as responsible entity of Australian Unity Office Fund (ARSN 113 369 627) (AOF) that the adjourned meeting of AOF Unitholders (Meeting) will be held virtually. Further to the announcement of AOF on 10 December 2021 confirming the adjournment of the Meeting of unitholders of AOF (AOF Unitholders), the Meeting will be resumed as follows:

Place:

Virtually (see further details below)

Date:

Friday 11 February 2022

Registration:

12.30pm (AEDT)

Time:

1.00pm (AEDT)

Proxy Form Deadline: 1.00pm (AEDT) on Wednesday 9 February 2022

As the meeting is being held as a virtual meeting, there will not be a physical venue for the Meeting that AOF Unitholders can attend.

Mr Peter Day has been appointed as chairperson of the Meeting (Chair).

BUSINESS

There will be no formal business at the Meeting as Resolution 1 and Resolution 2, as described in the AOF Notice of Meeting and Explanatory Memorandum dated 15 November 2021, have been withdrawn.

The Meeting will be opened solely to conclude the business of the Meeting, with no items of business for discussion or consideration at the Meeting.

ATTENDING THE VIRTUAL MEETING

The Meeting will be held virtually using the online platform provided by AOF's registry, Boardroom Pty Limited (Registry). AOF Unitholders and their appointed proxies, attorneys or corporate representatives who wish to participate in the Meeting online may do so:

  1. from their computer, by entering the URL in their browser:https://web.lumiagm.com/309-536-856
  2. from their mobile device by entering the URL in their browser:https://web.lumiagm.com/309-536-856

If you wish to participate in the Meeting as an AOF Unitholder online you can log in to the Meeting by entering:

  1. your username, which is your Voting Access Code (VAC), which can be located on the first page of your proxy form or Notice of Meeting email; and
  2. your password, which is the postcode registered to your holding if you are an

Issuer:

Registry Enquiries:

Australian Unity Investment Real Estate Limited

Australian Unity Office Fund Investor Services

271 Spring Street

1300 737 760 or

Melbourne VIC 3000

+61 2 9290 9600

ABN 86 606 414 368

(outside Australia)

AFSL: 477434

For personal use only

Australian Unity Office Fund

Australian shareholder. Overseas shareholders should refer to the user guide for their password details.

If you cannot attend the Meeting, you may appoint a proxy, attorney or, if you are a body corporate, a corporate representative, to attend on your behalf. If you have been appointed as a proxy, please contact the Registry on 1300 737 760 or +61 2 9290 9600 for details on how you can access the Meeting.

Registration for the Meeting will open at 12:30pm (AEDT) on Friday, 11 February 2022. To register your attendance please log onto the Meeting via the online platform at least 15 minutes before the Meeting starts.

More information regarding participating in the Meeting online can be found in the Online Unitholders' Meeting Guide enclosed with the original Notice of Meeting and available at the following link.

If you have trouble accessing or using the online platform during the Meeting, please call 1300 737 760 or +61 2 9290 9600.

ATTENDANCE

Entitlement to attend

Persons holding AOF Units at 7.00pm (AEDT) on Wednesday, 9 February 2022 (Voting Record Date) will, for the purposes of determining voting entitlements at the Meeting, be taken to be AOF Unitholders. If you are registered on the register of unitholders as an AOF Unitholder (Register) at 7.00pm (AEDT) on the Voting Record Date, or you are appointed as a proxy, attorney or corporate representative of such an AOF Unitholder, then you will be entitled to attend the Meeting.

Appointment of proxies

If you cannot or do not wish to attend the Meeting, you may appoint a representative to act as your proxy to attend at the Meeting on your behalf. The proxy does not need to be an AOF unitholder. If you appoint a proxy, you may still attend the Meeting, however, your proxy will not be able to speak or participate at the Meeting while you are present.

If you are entitled to cast two or more votes at the Meeting (not applicable at this Meeting), you may appoint two proxies and specify the proportion or number of votes each proxy is entitled to exercise.

To be valid, Proxy Forms must be received by 1.00pm (AEDT) on 9 February 2022. The Proxy Form for the Meeting accompanies this Notice of Meeting. The Proxy Form must be signed by the AOF Unitholder or their attorney or, in the case of a corporation, executed in accordance with section 127 of the Corporations Act or signed by an authorised officer or attorney.

If the Proxy Form is signed by an attorney or by an authorised officer of a corporation, the original or a certified copy of the power of attorney or other authority must accompany the Proxy Form unless it has previously been provided to the Registry. If the Proxy Form is sent by fax, any accompanying power of attorney or other authority must be certified.

Issuer:

Registry Enquiries:

Australian Unity Investment Real Estate Limited

Australian Unity Office Fund Investor Services

271 Spring Street

1300 737 760 or

Melbourne VIC 3000

+61 2 9290 9600

ABN 86 606 414 368

(outside Australia)

AFSL: 477434

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Disclaimer

Australian Unity Office Fund published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2022 00:08:05 UTC.