BWP GROUP (BWP)

name changed from BWP Trust

For the record, BWP Trust ("˜BWP') was the name of the entity previously listed on ASX and its units traded under the ASX code BWP. On 28 July 2025, unitholders in BWP approved the resolutions necessary to staple the fully paid ordinary shares of BWP Property Group Ltd ("˜BWP Property Group) to the units in BWP ("˜Stapling Proposal'). The new stapled entity will trade as BWP Group, with BWP Group keeping the same ASX Code as the BWP Trust, being "˜BWP'. The Stapling Proposal will be achieved by way of an in-specie distribution by BWP Management Limited, as responsible entity of the BWP Trust, of the shares in BWP Property Group to all unitholders in BWP Trust, distributing to the unitholders of BWP Trust one new fully paid ordinary share in BWP Property Group ("˜New Shares') for each BWP Trust unit held, so that the units become stapled on a one-for-one basis forming a single class of stapled securities ("˜Stapled Securities'). The distribution will occur under the Meeting Booklet (comprising the Replacement Prospectus dated 8 July 2025 and the Notice of Meeting and Explanatory Memorandum dated 27 June 2025) by way of an in-specie distribution being made to BWP Trust's unitholders, who under the constitutions of the BWP Trust and BWP Property Group, authorise and direct BWP Management Limited, as responsible entity of the BWP Trust, to make the in-specie distribution of the New Shares.