Finbar : Completes Motive Project

ASX MARKET & MEDIA ANNOUNCEMENT 10 January 2017 FINBAR COMPLETES MOTIVE PROJECT

• Motive reaches practical completion on time and budget
• Project comprises 143 apartments with amenities
• Finbar has secured $33.7 million in sales to date
• Settlements on pre-sold apartments will commence end of January
• Revenue to contribute to Finbar's H2 FY17 earnings

Perth, 10 January 2017: Western Australia's leading apartment developer Finbar Group Limited (ASX:FRI) (Finbar or the Company) is pleased to advise that the Motive joint venture project has reached completion.

The Motive development is located at 172 Railway Parade, West Leederville and is a two tower development consisting 143 one and two bedroom residential apartments with common amenities including gym, pool deck, cabana, sauna, residents lounge and games room.

Finbar has secured sales of $33.7 million comprising 66 lots out of the 143 lot, $80.8 million project. Settlements of the completed units will commence at the end of January with sales revenue from pre-sales contributing to second half earnings for FY17.

Finbar Managing Director Darren Pateman welcomed the project's completion. "Motive is the first of two projects that are scheduled to be delivered in the second half of the financial year with Concerto in East Perth expected to be completed in May. Finbar believes the remaining units at Motive will respond positively to robust demand for completed stock, we are currently experiencing in other Metro developments."

Motive offers city and lake views from many apartments, and is located 500m from both the Leederville and West Leederville train stations with direct access to the Central Business District (CBD), northern suburbs and Fremantle.

Image: Complete Motive Apartments

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For further information, please visit www.finbar.com.au or contact: Darren Pateman

Managing Director Finbar Group Limited

Email: [e-mail]

Finbar Group Limited, its controlled entities and its jointly controlled entities, is a property development company whose core business lies in the development of medium to high density residential apartments and commercial property within the Perth Metropolitan Area and the Pilbara within the State of Western Australia.