Kalis Properties is thrilled to confirm that construction of the Myer Building on Liverpool St and the
first stage of the Icon Complex is officially commencing today.

Today’s announcement by the Tasmanian Government of a commercial loan of $15 million will
secure the entire project. Specifically it will enable the second stage of development to proceed, that
being the retail galleria and additional Myer retail space in the Icon Complex. It is a sign of
confidence in the project and the future of retailing in Hobart.

Construction partner Hutchinsons Builders will primarily use Tasmanian subcontractors in the
development of Hobart’s premier retail destination, with a target date for Stage 1 of Myer Liverpool
Street opening on 1st December 2015.

“This is a truly exciting development for us and for Hobart. Not only will it be a world-class retail
experience when we open, but it will inject $100 million into the Tasmanian economy over the next
three years of construction, directly and indirectly employing approximately 500 people,” says
Emmanuel Kalis, Managing Director of Kalis Properties.

“We greatly appreciate the support of the State Government and the City of Hobart, both parties
have been extremely supportive and enabled us to secure the ongoing development into Stage 2 of
the Icon Complex without delay.”

Stage 2 development works on Murray Street will commence after Stage 1 Myer on Liverpool St
opens in December 2015, with the Stage 2 target completion date of mid-2017. Once the first two
stages are complete, development works on the third stage including a proposed hotel and rooftop
bar will begin.

The Icon Complex is set to attract major national and international high-end fashion and lifestyle
brands which will draw shoppers into the Hobart CBD. Sales potential for the retail specialty area
(Stage 2) has been estimated at $35.2 million in its first full year of operation.

Kalis Properties Pty Ltd and its subsidiaries are wholly Tasmanian, privately-owned diversified property and
development businesses that have successfully traded for over 40 years, with extensive investments in retail,
hospitality, office and industrial property holdings, providing a broad range of property solutions for tenants.
Angie Farrugia