Level 15, 100 Pacific Highway, North Sydney, 2060 |www.usmastersresidential.com.au| urfinvestorrelations@usmrpf.com | T 1300 027 055 | F 1300 883 159
dwelling properties in the New York metropolitan area.
US Masters Residential Property Fund is the first Australian-listedentity with the primary strategy of investing in the US residential property market. Its portfolio comprises freestanding and multi-

28 February 2022

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US Masters Residential Property Fund (Fund)

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ASX Code: URF

Video Update - Q4 2021

The Fund has recorded a video update to accompany the Q4 2021 Quarterly Report and Full-Year 2021 Financial Accounts for the period ending 31 December 2021. A copy of the presentation and a link to the video update is below.

This update is available on the Fund's website and investors who have elected to receive email updates from the Fund will also be emailed a ersonal

link to the video.

Ple se click herefor the video update.

For further information contact:

Investor Relations

Ph: 1300 027 055

E: URFInvestorRelations@usmrpf.com

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Q4 2021 Fund Update

28 February 2022

Disclaimer

This presentation is prepared by the US REIT, and is authorised for release by E&P Investments Limited (ACN 152 367 649 | AFSL 410 433) (Responsible Entity) as the Responsible Entity for the US Masters Residential Property Fund (ARSN 150 256 161) (Fund).

onlyThis presentation may contain general advice. Any general advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice with regard to your objectives, financial situation and needs. Past performance is not a reliable indicator of future performance. All figures in this presentation are in AUD unless stated otherwise.

This presentation may contain statements, opinions, projections, forecasts and other material (forward looking statements), based on various assumptions. Those assumptions may or may not prove to be correct. Neither E&P

useInvestments Limited, the US REIT or their advisers (including all of their respective directors, consultants and/or mployees, related bodies corporate and the directors, shareholders, managers, employees or agents of any of them)

(Parties) make any representation as to the accuracy or likelihood of fulfilment of the forward-looking statements or any of the assumptions upon which they are based. Actual results, performance or achievements may vary materially from any projections and forward looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward looking statements and the Parties assume no obligation to update that information.

The Parties give no warranty, representation or guarantee as to the accuracy or completeness or reliability of the information contained in this document. The Parties do not accept, except to the extent permitted by law, responsibility for a y loss, claim, damages, costs or expenses arising out of, or in connection with, the information contained in this presentation. Any recipient of this presentation should independently satisfy themselves as to the accuracy of all information contained in this presentation.

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2021 Full Year results

Total comprehensive income of A$45.1 million for 2021 full year.

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Contributing factors include:

• Valuation growth for the 1-4 Family property portfolio.

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Reduced G&A expenses.

Reduced interest costs.

Favourable currency movements.

• Reduced deferred tax liability (change at 30 June 2021).

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Asset valuation - 31 December 2021

1-4 Family portfolio:

The results for the half-year saw the Fund's aggregate asset values increase by 1.6% for the onlyperiod 1 July 2021 to 31 December 2021. This result follows an increase of 2.7% for the first

six months of 2021.

useersonalS urce: US REIT, as at 31 December 2021.

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Us Masters Residential Property Fund published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 06:01:03 UTC.