FINANCIAL POSITION OF THE

TOPIC

What is urban renewal and regeneration?

What is URB’s Investment Strategy?

Who are the Company’s Directors?

What is the financial position of the Company?

SUMMARY

Urban renewal and regeneration is the transformation of existing urban areas to accommodate much denser and mixed used environments 2 . It can generate a number of benefits including new infrastructure, better use of existing infrastructure, increased productivity, additional expenditure and new employment opportunities.

URB will seek to benefit from urban renewal and regeneration by investing in assets that have exposure to population growth, population density, major infrastructure investment, housing growth, new employment, revitalisation of town centres, re-zoning and use of land changes, education services, healthcare services and tourism growth.

The Equity Portfolio will comprise a diversified collection of Equity Assets that seek to capitalise on exposure to urban renewal and regeneration. The Equity Portfolio will seek to complement more mainstream equity portfolios as URB does not intend to hold banking or resource stocks. URB will have a flexible investment mandate, across various industries and will seek to offer investors exposure to quality companies that are thought to benefit from urban renewal and regeneration.

In relation to the Property Portfolio, URB will target Direct Property Assets that are set to benefit from changes in use, such as rezoning, gentrification and the maximisation of available floor space in order to enhance returns. Targeted properties will be undervalued assets which: a require a short term repositioning for income; or a require capital for restructuring; or a have an underlying opportunity for capital revaluation through changes in use.

Investment will be made as close to the point of change as possible and, should there be a delay in such changes, the objective will be that the asset is underpinned by a sustainable and often growing income stream. Via the Co-investment Agreement, investments in Direct Property Assets are expected to be made alongside Soul Pattinson, one of Australia’s oldest and respected investment houses.

The Directors of the Company are: a Mr. Warwick Negus; a Ms. Victoria Weekes; a Mr. Tony McDonald; and a Mr. Bruce Dungey.

See Sections 8.1 and 8.8 for further details regarding the background and remuneration of our directors.

The Company is yet to commence trading. Unaudited pro forma statements of its financial position as at the date of this Prospectus are set out in Section 6.2.

REFER TO

Section 3.2

Section 3.4

Section 8.1

Section 6