Corporate Action: Do Not Subscribe to Dexus’ Share Purchase Plan. FVE Increases to AUD 11.00

Narrow-moat-rated Dexus Property, in conjunction with the Dexus Wholesale Property Fund, or DWPF, have agreed to acquire a mixed-use CBD precinct in Melbourne for AUD 1.476 billion. Dexus will own 75% and DWPF the 25% balance of the site at 80 Collins Street Melbourne comprising the existing tower, a new south tower, a retail podium, and a 255 room hotel. To fund the purchase, Dexus is undertaking an underwritten AUD 900 million institutional placement at AUD 12.10 per security and a non-underwritten security purchase plan, or SPP, to raise up to AUD 50 million. Eligible security holders under the SPP can subscribe for up to a maximum of AUD 15,000 of new Dexus securities at AUD 12.10 per security. The SPP offer is expected to open on May 8 and close on May 29. Terms of the SPP will be set out in a SPP booklet that will be sent to eligible security holders shortly.