ASX ANNOUNCEMENT 25 July 2019

The Trust Company (RE Services) Limited (ABN 45 003 278 831) (Responsible Entity), part of Perpetual Limited, is the responsible entity for the Qualitas Real Estate Income Fund ARSN 627 917 971 (QRI). The Responsible Entity has established a Distribution Reinvestment Plan (DRP) for QRI.

The DRP is a convenient way for unitholders to increase their holding of units in QRI by allowing them to automatically reinvest all or part of their cash distributions in additional units, without incurring brokerage, commissions or other transaction costs.

The fund units to be initially issued under the DRP are to be issued at NAV for 31 July 2019. The Responsible Entity expects to make distributions on a monthly basis. For such distributions, it is expected the record date will be the last ASX trading day of each month and the last day for electing into the DRP will be 5.00pm (Melbourne, time) at the relevant DRP Election Date.

Units issued under the DRP in respect of a monthly distribution will be issued at NAV for the last day of the month .Unitholders who have not provided bank account details for the payment of Cash Distributions by the DRP Election Date will be deemed to have elected to reinvest all their Cash Distributions in additional Units in QRI in accordance with the DRP.