Astro Japan Property : AJA Full Year Results Presentation

ASX/Media Release

24 August 2017

AJA FULL YEAR RESULTS PRESENTATION

Please find attached the Full Year Results Presentation relating to Astro Japan Property Group's Full Year Results to 30 June 2017.

ENDS Investor & Media Enquiries:

Eric Lucas John Pettigrew

Senior Advisor Chief Financial Officer

Phone: [phone] (Japan) Phone: [phone]

About Astro Japan Property Group (AJA)

Astro Japan Property Group is a listed property group which invests in the Japan real estate market. It currently holds interests in a portfolio comprising 29 retail, office, residential and hotel properties. Asset management services in Japan are generally undertaken by Spring Investment Co., Ltd.

AJA is a stapled entity comprising Astro Japan Property Trust (ARSN 112 799 854) and Astro Japan Property Group Limited (ABN 25 135 381 663). For further information please visit our website: www.astrojapanproperty.com.

FULL YEAR RESULTS TO 30 JUNE 2017

24 August 2017

DISCLAIMER

This publication is issued by the Astro Japan Property Group ("Astro Group"), comprising Astro Japan Property Management Limited (ABN 94 111 874 563, AFSL 283142) ("Responsible Entity") as responsible entity of the Astro Japan Property Trust (ARSN 112 799 854) ("AJT") and Astro Japan Property Group Limited (ABN 25 135 381 663) ("AJCo").

This Presentation contains summary information about the Astro Group and its activities current as at the date of this Presentation. The information in this Presentation is of a general nature and does not constitute an offer of, or invitation to invest in or subscribe for, or a recommendation of, Astro Group stapled securities. The Presentation does not purport to be complete or comprise all information which a securityholder or potential investor may require in order to determine whether to deal in Astro Group stapled securities. It should be read in conjunction with the Astro Group's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au.

The Astro Group and its directors, officers, employees and contractors do not accept, and expressly disclaim, any liability whatsoever for any loss howsoever arising from any use of this Presentation or its contents. The information in this Presentation remains subject to change without notice.

This Presentation is not intended to constitute legal, tax or accounting advice or opinion. No representation or warranty, express or implied, is made as to the accuracy, completeness or thoroughness of the content of the information contained in this Presentation. Recipients should consult with their own investment, financial, taxation or other professional adviser as to the accuracy and application of the information contained herein and should conduct their own due diligence and other enquiries in relation to such information.

The information contained in this Presentation constitutes general information only. The Responsible Entity is not licensed to provide financial product advice (including personal financial product advice), and the information contained in this Presentation does not constitute financial product advice.

In providing this Presentation, the Astro Group has not considered the investment objectives, financial situation and particular needs of an investor. Before making any investment decision with respect to Astro Group stapled securities, an investor should consider its own investment objectives, financial circumstances and needs, and if necessary consult its investment, financial, taxation or other professional adviser. An investment in Astro Group stapled securities is subject to investment and other known and unknown risks, some of which are beyond the control of Astro Group. The Astro Group does not guarantee any particular rate of return or the performance of Astro Group.

This Presentation may contain forward looking statements. Forward looking statements include those containing such words as "anticipate", "estimates", "will", "should", "could", "may", "expects", "plans" or similar expressions. Indications of and guidance or outlook on future revenues, distributions or financial position and performance or return or growth in underlying investments included in this Presentation, are also forward looking statements. No representation or warranty is given as to the accuracy, completeness, likelihood of achievement or reasonableness of any forecasts, projections, prospects, returns, forward-looking statements or statements in relation to future matters contained in the information provided in this document. Such guidance,

DISCLAIMER (cont'd)

forecasts, projections, prospects, returns and statements are by their nature subject to significant unknown risks, uncertainties and contingencies, many of which are outside the control of the Astro Group, that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. An investment in the Astro Group is subject to investment risk including possible loss of income and principal invested.

The Astro Group specifically prohibits the redistribution or reproduction of this material in whole or in part without the written permission of the Astro Group and the

Astro Group accepts no liability whatsoever for the actions of third parties in this respect.

Asset management services in Japan are generally undertaken by Spring Investment Co., Limited ("Spring"). Property level information contained in this Presentation has been provided by Spring. The Astro Group's property interests are held via a Japanese Tokumei Kumiai structu re, which is a contractual arrangement whereby the Astro Group has no ownership interest in the properties. Refer to the Astro Group website under About Us - Ownership Structure for more details, www.astrojapanproperty.com.