Australian REIT Income Fund completes C$66.4 million initial public offering

Closing Date: 3/21/2013

Value: C$66.4 million

On March 21, 2013, Australian REIT Income Fund (the Fund) completed its initial public offering of Class A Units and Class F Units (collectively referred to as Units) at a price of $12.00 per Unit for gross proceeds of $66 million. The Agents exercised their over-allotment option on April 30, 2013 which brought the aggregate gross proceeds of the public offering to $66,403,992. The Class A Units currently trade on the Toronto Stock Exchange under the symbol HRR.UN. The Class F Units are not listed on a stock exchange but are convertible into Class A Units on a monthly basis.

The offering was made through a syndicate of agents co-led by BMO Capital Markets, CIBC and Macquarie Private Wealth Inc., and included Scotiabank, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P., Raymond James Ltd., All Group Financial Services Inc., Burgeonvest Bick Securities Limited and MGI Securities Inc. (collectively, the Agents).

The Fund and the manager of the Fund, Harvest Portfolios Group Inc., were represented by BLG with a team that included Michael DeCosimo and Mark Lau (Corporate and Securities) and Craig Webster and Camille Kam (Tax).