KSS Information Memorandum 2021

Key Funding Parameters Lenders are invited to tender or re-tender to finance KSS under its existing Common Terms Agreement. Common Terms Agreement has bilateral arrangements with participating banks on pricing, volume allocation and term of funding. The bilateral agreement is non- negotiable between the Borrower and the participating lender(s). Borrower: Kennards Self Storage Pty Ltd (“KSS”) Facility & Limit: Facility Limit is currently $341 million. Debt of $110 million is to be rolled over. KSS Group Debt - Current Status

Debt Amount

Total Facility

Headroom Expiring on

$110,000,000 $110,000,000 30/09/2021 $128,000,000 $149,000,000 $21,000,000 07/04/2023 $ 50,000,000 $ 50,000,000 - 07/04/2025 $ 32,000,000 $ 32,000,000 - 30/09/2023 $320,000,000 $341,000,000 $21,000,000 -

Purpose of Facility:

The purpose of the rollover will be to re-finance the existing debt.

Term:

2 years, 3 years, 5 years and longer term debt

Covenants:

• •

LVR less than 60%

ICR 1.75x

Timetable:

Distribution of Information Memorandum 21 June - 30 June 2021 Lender - KSS Discussion 1 July - 16 July 2021 Indicative offer on Bilateral Terms 19 July 2021 Selection of Bank(s) 26 July - 30 July 2021 Lending Bank(s) to finalise Credit Approval 2 Aug - 6 Aug2021 Executive Bilateral Agreements 9 Aug - 20 Aug 2021 Draw down/ Renew/ Deliver 30 September 2021 or earlier

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