1. The Zenith Investment Partners Pty Ltd (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (Charter Hall Direct Office Fund (APIR MAQ0842AU), Charter Hall Direct PFA Fund (APIR MAQ5880AU), Charter Hall Direct Industrial Fund No.4 (APIR MAQ0854AU), Charter Hall Direct Long WALE Fund (APIR MAQ5703AU), Charter Hall Wholesale Property Series No.2 (APIR MAQ5760AU) (all assigned 13 December 2023) and Charter Hall Maxim Property Securities Fund (APIR COL0001AU) (assigned 10 July 2023) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at https://www.zenithpartners.com.au/our-solutions/investment-research/regulatory-guidelines/. 

2. The Lonsec ratings issued for the Charter Hall Direct Office Fund (assigned November 2023), Charter Hall Direct PFA Fund (assigned November 2023), Charter Hall Direct Industrial Fund No.4 (assigned November 2023), Charter Hall Direct Long WALE Fund (assigned November 2023) and the Charter Hall Maxim Property Securities Fund (assigned May 2023) are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2024 Lonsec. All rights reserved.