Aveo : Cleansing Notice Allotment of Aveo Group Stapled Securities

This notice is given to ASX Limited by:

• Aveo Group Limited ABN 28 010 729 950 (Aveo); and

• Aveo Funds Management Limited ABN 17 089 800 082 (AFML) as the responsible entity of Aveo Group Trust ARSN 099 648 754 (Trust),

(together, Aveo Group) under paragraphs 708A(5)(e) and 1012DA(5)(e) of the Corporations Act 2001 (Cth) (Act).

Aveo Group has today issued 37,091,988 fully paid ordinary stapled securities (each comprising an ordinary share in Aveo stapled to an ordinary unit in the Trust) (Stapled Securities). Further details of this issue are contained in the Appendix 3B lodged with the ASX on 18 August 2016.

Aveo Group advises that:

1. the Stapled Securities were issued without disclosure to investors under Part 6D.2 (Prospectus) or Part 7.9 (Product Disclosure Statement) of the Act;

2. this notice is being given under paragraphs 708A(5)(e) and 1012DA(5)(e) of the Act;

3. as a disclosing entity, Aveo Group is subject to regular reporting and disclosure obligations;

4. as at the date of this notice, Aveo Group has complied with:

5. the provisions of Chapter 2M of the Act as they apply to each of Aveo and the Trust; and

6. section 674 of the Act as it applies to each of Aveo and the Trust;

7. as at the date of this notice, there is no 'excluded information' of the type referred to in subsections sections 708A(7) and (8) or sections 1012DA(7) and (8) of the Act.

Yours faithfully

Anna Wyke

Group Company Secretary Aveo Group

About Aveo

"We will grow with older Australians by inspiring greater living choices."

Aveo is a leading and trusted owner, operator and manager of retirement communities across Australia. Aveo's philosophy is underpinned by a commitment to grow with older Australians by inspiring greater living choices. We currently do so for 13,000 residents in 89 retirement villages across Australia. Aveo also manages and develops a diversified $430 million property portfolio. Over 30 years, Aveo's portfolio has grown to one that encompasses retirement, residential, commercial, industrial and mixed-use property assets. Together these communities define how hundreds of thousands of people in Australia live, work, retire and invest.

Issued by Aveo Group (ASX:AOG) comprising Aveo Group Limited ABN 28 010 729 950 and Aveo Funds Management Limited ABN 17 089 800 082, AFSL No.

222273 as Responsible Entity for the Aveo Group Trust ARSN 099 648 754. aveo.com.au