ASX ANNOUNCEMENT

8 February 2021

Announcement No. 01/21

Corporate Announcement Office

Australian Securities Exchange

DRP Allocation Price

The Directors of ALE Property Group (ASX: LEP) today advised that the distribution reinvestment plan ("DRP") allocation price for the six month period ended 31 December 2020 is $4.70 per stapled security.

The allocation price is the average of the daily volume weighted average stapled security price (with 1% discount applied) of LEP stapled securities on the Australian Securities Exchange for the 20 consecutive trading days from and including 4 January 2021 to 1 February 2021.

Holders with around 113.59 million stapled securities, or around 57.4% of the current stapled securities on issue, have elected to participate in the DRP. The securities required for the DRP will be sourced from the issue of new stapled securities. At that level of participation, the DRP will raise approximately $12.2 million in new equity.

There was no scale back applied to holders electing to participate in the DRP.

The stapled securities under the DRP will rank equally with existing stapled securities and will be issued on the distribution payment date of 5 March 2021.

This ASX release was approved and authorised for release by Michael Clarke, Company Secretary.

- Ends -

Contact:

Michael Clarke

Company Secretary

ALE Property Group

02 8231 8588

Website: www.alegroup.com.au

Australian Leisure and Entertainment Property Management Limited ABN 45 105 275 278

Australian Leisure and Entertainment Property Trust ARSN 106 063 049

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ALE Property Group published this content on 08 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2021 21:38:05 UTC.