Company Update

AXA Property Trust Ltd - Company Update

PR Newswire

London, October 5

AXA Property Trust Limited(a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 43007)LEI Number: 213800AF85VEZMDMF931(The “Company”)

UPDATE RELATING TO THECOMPANY’S ONGOING STRATEGY

5th October 2018

Further to the Company’s announcement on 21st September 2018 regarding the result of the adjourned EGM, the Directors have consulted with the shareholder who voted against the proposal to voluntarily wind up the Company pursuant to Section 391(1)(b) of The Companies (Guernsey) Law, 2008, as amended.

During this consultation the shareholder has proposed that the Company retains its Listing, ceases the managed wind-down and realisation of assets and changes its Investment Objectives to permit the Company to make new investments in different asset classes to those currently permitted.

The Directors view these proposals to be a significant change from the current Investment Objectives approved by more than 75% of those voting in October 2013. The October 2013 resolution therefore remains in place unless otherwise changed by shareholders and the Board believes it has to continue with the current realisation strategy, in particular with respect to the lease negotiations and disposal at Curno.

Company website: retail.axa-im.co.uk/axa-property-trust

All Enquiries:Investment Manager AXA Investment Managers UK LimitedBroker Services7 Newgate StreetLondon EC1A 7NXUnited KingdomBrokerStifel Nicolaus Europe Limited150 CheapsideLondon EC2V 6ETUnited KingdomTel: +44 (0)20 7710 7600Company SecretaryNorthern Trust International FundAdministration Services (Guernsey) LimitedPO Box 255Trafalgar CourtLes BanquesSt Peter PortGuernsey GY1 3QL

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