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Charter Hall Consortium To Acquire 100% Of ALE Securities

Charter Hall Long WALE REIT or CLW, on Monday, announced that CLW and a Charter Hall
managed trust on behalf of Host-Plus Pty Ltd, - together the Consortium - have entered into a Scheme Implementation Deed or SID with ALE Property Group or LEP under which the Consortium will acquire all of the LEP Stapled Securities via schemes of arrangement, subject to certain conditions. Total enterprise value consideration will be about $1.68 billion.

Under the Transaction terms, LEP Securityholders will receive $5.683 per LEP security comprising, $3.673 cash per LEP security; and 0.408 CLW securities per LEP security.

LEP securityholders will also receive the LEP September 2021 quarter distribution of $0.055 per LEP security. The total cash consideration paid will be reduced by any further LEP distributions made prior to the implementation date.

In addition, CLW has also acquired two industrial properties in Sydney and Brisbane with WALEs of 16.8 years and 7.9 years respectively, for a total purchase price of about $67 million.

Including the impact of the Transaction and Acquisitions, and based on information currently available and barring any unforeseen events, CLW noted that it reconfirms its forecast FY22 operating earnings per security or OEPS guidance of no less than 4.5% growth over FY21 OEPS.

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