DEXUS — Interim / Quarterly Report 2016

Oct 21, 2015

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DEXUS Property Group (ASX:DXS)
ASX release
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22 October 2015

September 2015 quarter portfolio update and Office Insights Tour

DEXUS Property Group (DEXUS) today announced an operational update across its property portfolio for the quarter ended 30 September 2015.

HIGHLIGHTS

• Leased 35,088 square metres[1] of space across 78 transactions in the DEXUS office portfolio

• Leased 50,873 square metres[1] of space across the DEXUS industrial portfolio, including securing a new lease across 18,013 square metres at 2-4 Military Road, Matraville

• Completed the final stage of development at 5 Martin Place, Sydney[2] with the committed office space increasing to 96% including heads of agreement post quarter-end, from 42% at acquisition

• Achieved $40.0 million of revaluation gains, including a 9.8% uplift on DEXUS’s investment in 1 Bligh Street, Sydney which was independently revalued at 30 September 2015

• Settled on the sale of 25-55 Rothschild Avenue and 5-13 Rosebery Avenue, Rosebery and 154 O’Riordan Street, Mascot, securing FY16 trading profits of approximately $60 million net of tax

• Divested 36 George Street, Burwood from the DEXUS Office Partnership (in which DEXUS holds a 50% interest) for gross sale proceeds of $95 million, reflecting a $29 million or 44% premium to book value as at 30 September 2015

PORTFOLIO UPDATE

September 2015 valuations

Kevin George, DEXUS Executive General Manager, Office and Industrial, said: “The properties DEXUS jointly owns with DEXUS Wholesale Property Fund (DWPF) experienced an uplift in valuation[3] and the cap rate for 1 Bligh Street, Sydney tightened by 50 basis points to 5.25%.”

The valuations conducted as at 30 September 2015 comprised:

Property	DXS	External	Variance to	Variance to	Prior	New
	share	valuation4	book value4	book value	capitalisation	capitalisation
	%	$m	$m	%	rate	rate
1 Bligh Street, Sydney	33%	$291.6m	$26.0m	9.8%	5.75%	5.25%
39 Martin Place, Sydney	50%	$94.1m	$4.1m	4.7%	Office 6.75% Retail 10.25%	Office 6.50% Retail 10.25%
480 Queen Street, Brisbane	50%	$193.9m	$9.1m	4.9%	7.00%	6.75%
12 Creek Street, Brisbane	50%	$133.8m	$0.8m	0.6%	6.75%	6.75%
Kings Square, Perth	50%	$224.5m	$0.0m	0.0%	7.00-7.50%	7.00-7.50%
Total		$937.9m	$40.0m	4.3%

1 Including Heads of Agreement.

2 5 Martin Place, Sydney is co-owned by DEXUS Office Partnership (50%) and Cbus Property (50%).

3 Properties were independently valued. Excluding Waterfront Place Complex on which DEXUS announced settlement on 1 October 2015.

4 Represents DEXUS’s share of value.

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DEXUS Property Group (ASX:DXS)
ASX release
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DEXUS office portfolio metrics as at 30 September 2015

Key metrics5	30 September 2015	30 June 2015
Occupancy by income	93.7%	95.3%
Occupancy by area	94.3%	95.5%
WALE by income	4.3 years	4.3 years
Average incentive	16.6%	15.0%

Kevin George said: “Net absorption across the Australian east coast CBD office markets remains solid, with Sydney, Melbourne and Brisbane CBDs recording a combined 77,152 square metres of positive net absorption for the September 2015 quarter. This flowed through to another solid quarter of leasing activity in our portfolio and despite occupancy reducing as a result of expected tenant movements, we remain on track to achieve our occupancy[6] target of 95% at 30 June 2016.”

Over the quarter to 30 September 2015, DEXUS leased 35,088 square metres[7] of office space across 78 transactions including:

• Securing heads of agreement with a new tenant across 6,056 square metres at 321 Kent St, Sydney

• Securing four new tenants across 3,683 square metres and renewals with two tenants across 1,213 square metres at 10 Eagle St, Brisbane

• Securing a new lease with Aussie Home Loans across 2,973 square metres at Grosvenor Place, Sydney

Occupancy[6] across the office portfolio of 93.7% was primarily impacted by Ashurst’s move from Grosvenor Place to 5 Martin Place, Sydney, however including heads of agreement post quarter end, occupancy[6] has increased to 94.1% (94.6% by area). The office portfolio’s weighted average lease expiry (WALE) remained stable at 4.3 years. While average incentives on face deals were in line with those achieved during FY15, effective deals represented a lower percentage of total leasing in the quarter which meant that overall office portfolio incentives rose marginally compared to FY15.

DEXUS industrial portfolio metrics as at 30 September 2015

Key metrics	30 September 2015	30 June 2015
Occupancy by income	93.4%	92.4%
Occupancy by area	91.1%	91.7%
WALE by income	4.2 years	4.0 years
Average incentive	14.7%	10.8%

Kevin George said: “Our industrial portfolio occupancy improved by one per cent over the quarter, and included the leasing of a major vacancy at Matraville across approximately 18,000 square metres. In South Sydney and Inner West Sydney we continue to see an uptick in tenant enquiry and demand for industrial property, especially where supply is restricted due to withdrawals for alternative use.”

Over the quarter to 30 September 2015, DEXUS leased 50,873 square metres[7] of industrial space across six transactions including:

• Securing a new tenant across 18,013 square metres at 2-4 Military Road, Matraville

• Securing a new lease with Unitrans across 13,607 square metres at Knoxfield Industrial Estate

• Securing a new lease with Flick Anticimex across 4,275 square metres at 145-151 Arthur Street, Flemington

5 Excluding Waterfront Place Complex, Brisbane which settled on 1 October 2015. 6 By income.

7 Including Heads of Agreement.

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DEXUS Property Group (ASX:DXS)
ASX release
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Industrial portfolio occupancy[6] improved from 92.4% at 30 June 2015 to 93.4% at 30 September 2015 primarily due to leasing at Matraville, Flemington and Knoxfield. Average industrial incentives increased as a result of new leasing completed in the competitive Melbourne market. All deals achieved in the quarter were also face deals.

TRANSACTIONS

On 29 September DEXUS announced that the DEXUS Office Partnership (“Partnership”) had entered into an agreement to sell 36 George Street, Burwood. The gross sale proceeds of $95 million[8] reflect a $29 million or 44% premium to book value. Settlement is expected to occur on 24 November 2015 and DEXUS’s share of net sale proceeds will be used to repay debt.

Darren Steinberg said: “This transaction is consistent with our strategy of divesting non-core assets, and delivered an IRR of 32% over the life of the Partnership’s investment in this property.

“While there is future development opportunity at the site, we made the decision to capitalise on strong current investor demand and DEXUS’s share of the gain on sale will flow through to our NTA.”

DEVELOPMENT

During the quarter, the final stage of development at 5 Martin Place, Sydney was completed, which is on track to achieve a forecast unlevered project IRR of 29%. Alongside Cbus Property, DEXUS successfully negotiated an accelerated build program, de-risked the leasing ahead of schedule and achieved rents above original assumptions at the time of acquisition. Including heads of agreement post quarter-end, the committed office space has increased to 96%, from 42% at acquisition.

At Kings Square, DEXUS is on track to achieve a forecast unlevered project IRR of 15%. A rental guarantee secured at the time of acquisition ensures full income on the properties for a further five years from practical completion, with the office space currently 55% committed. Two of the three properties have been completed with the third property expected to be completed in November 2015.

At 480 Queen Street, Brisbane terms have been agreed with Guardian Early Learning Group which will establish a child education and care centre across 1,505 square metres on level 5 of the tower, enhancing the customer experience. In addition, Mitsui Coal has also agreed terms across 815 square metres on Level 24. The office space is currently 85% committed[9] and due for completion in early 2016.

In industrial, the development of three sites at Quarry at Greystanes is nearing completion, including a 120 seat café which will service the entire estate. At the adjoining Quarrywest site, construction has commenced on the site’s first development which comprises a 12,520 square metre warehouse facility pre-leased to Toshiba as well as three additional speculative facilities across 23,500 square metres.

THIRD PARTY FUNDS MANAGEMENT

DWPF completed a $200 million equity offer to existing investors that was oversubscribed by approximately $260 million in July 2015. In addition, DWPF continues to receive a high level of interest from new investors seeking to enter the Fund.

DEXUS continues to progress the development pipeline managed on behalf of its third party clients, a significant proportion of which comprises properties owned in joint venture with DEXUS. Construction has also commenced on the major redevelopment of the retail plaza at Gateway, Circular Quay in Sydney on behalf of DWPF and leasing pre-commitments have been secured with Neil Perry’s The Burger Project and Chat Thai, with terms agreed on approximately 55% of income. The development will convert the existing three storey podium into multiple dining precincts, doubling the retail space to more than 4,500 square metres.

• 8 Gross sale proceeds are before transaction costs and are for the Partnership’s 100% interest in the property, of which DEXUS has a 50% interest.

9 DEXUS and DWPF have been provided with a two year income guarantee, from the developer, on any remaining vacancies at practical completion.

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DEXUS Property Group (ASX:DXS)
ASX release
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TRADING

In July 2015, DEXUS settled on the sale of 25-55 Rothschild Avenue and 5-13 Rosebery Avenue, Rosebery and 154 O’Riordan Street, Mascot. These settlements result in the securing of FY16 trading profits of approximately $60 million net of tax.

CAPITAL MANAGEMENT

DEXUS announced on 1 September 2015 the activation of an on-market securities buy-back of up to 5% of DXS securities on issue in response to share market volatility and will utilise the buyback where appropriate to enhance investor returns.

DEXUS continues to maintain a strong balance sheet, with gearing[10] of 28.5% at 30 June 2015 increasing to 29.3% on a pro forma basis at 30 September 2015 post the receipt of proceeds from the divestment of the Rosebery and Mascot trading properties and the acquisition of the Waterfront Place Complex, Brisbane which settled on 1 October 2015.

SUMMARY

Darren Steinberg said: “Despite the negative sentiment on the Australian economy, there remains significant leasing activity across the office, industrial and retail real estate sectors, with expectations that leasing will remain strong in the lead up to the end of the calendar year.

“The valuations we undertook this quarter support our view of a further 25-50bps of cap rate compression across our portfolio over FY16, with approximately 30 of DEXUS’s properties to be externally revalued and announced in December 2015.”

DEXUS reaffirms its FY16 guidance[11] for 5.5-6.0% growth in FFO per security, with FFO from the underlying business (excluding trading profits) expected to grow by 3.0-3.5%. Distributions will be paid in line with free cash flow which is expected to deliver growth in distribution per security of 5.5-6.0% for the 12 months ending 30 June 2016.

For further information please contact: Investor relations Media relations Rowena Causley T: +61 2 9017 1390 Louise Murray T: +61 2 9017 1446 M: +61 416 122 383 M: +61 403 260 754 E: rowena.causley@dexus.com E: louise.murray@dexus.com

About DEXUS

DEXUS Property Group is one of Australia’s leading real estate groups, investing directly in high quality Australian office and industrial properties. With $19.9 billion of assets under management, the Group also actively manages office, industrial and retail properties located in key Australian markets on behalf of third party capital partners. The Group manages an office portfolio of 1.7 million square metres located predominantly across Sydney, Melbourne, Brisbane and Perth and is the largest owner of office buildings in the Sydney CBD, Australia’s largest office market. DEXUS is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange under the stock market trading code ‘DXS’ and is supported by more than 32,000 investors from 18 countries. With 30 years of expertise in property investment, development and asset management, the Group has a proven track record in capital and risk management, providing service excellence to tenants and delivering superior riskadjusted returns for its investors. www.dexus.com

Download the DEXUS IR app to your preferred mobile device to gain instant access to the latest stock price, ASX Announcements, presentations, reports, webcasts and more.

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DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)

10 Gearing is adjusted for cash and for debt in equity accounted investments.

11 Barring unforeseen circumstances guidance is supported by the following assumptions: flat like-for-like income across the DEXUS combined portfolio, weighted average cost of debt of circa 4.9%, trading profits of approximately $60m net of tax, Management Operations FFO of $45-50m (including third party development management fees), approximately $150m net proceeds from non-core property divestments during FY16, excluding any buy-back of DXS securities, and excluding any further transactions.

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DEXUS PROPERTY GROUP OFFICE INSIGHTS TOUR - 22 OCTOBER 2015

2 DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR

RUN OF TOUR

	SESSION	SPEAKERS
2.00pm	Welcome	Darren Steinberg
2.10pm	Enhancing the Customer Experience	Deborah Coakley
2.25pm	DEXUS Place tour
2.45pm	Fitted suites approach	Richard Garing Andy Collins
2.50pm	Sydney CBD office tour begins
3.00pm	Grosvenor Place, 225 George Street	Andy Collins Pamela Medich
3.40pm	Governor Phillip & Macquarie Towers	Richard Garing
4.25pm	5 Martin Place	Elizabeth Bors

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DEXUS Property Group – 2015 Office Insights Tour Slide 1
—
ENHANCING THE CUSTOMER EXPERIENCE Deborah Coakley
DEXUS Property Group – [presentation title]2015 Office Ins ghts Tour Slide 2
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DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR 3

— ENHANCING THE CUSTOMER EXPERIENCE Current customer initiatives

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We are focused on initiatives to enhance the
customer experience throughout their lifecycle
Rental payment
Intelligent buildings DEXUS Place
initiatives
Car park solutions Community services Security
DEXUS Property Group – 2015 Office Insights Tour Slide 3
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— RENTAL PAYMENT INITIATIVES DEXUS Diners Club Card

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Extends payment window Earns rewards Enables focus on
customers’ business
� No annual fee � Earns rewards on day to � One payment system for
day business expenses expenses, travel and
� Up to 44 days to pay including rent entertainment
� Card can be used for � No points cap or expiry � Gains increased visibility
other expenses date on spending
� Redeem points across a � Streamlines paperwork
wide range of rewards, through monthly ATO
including frequent flyer compliant statements
� Complimentary access to � Complimentary
airport lounges international travel and
worldwide purchases insurance
DEXUS Property Group – 2015 Office Insights Tour Slide 4
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4 DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR

INTELLIGENT BUILDINGS

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The scale of DEXUS’s office platform delivers cost and efficiency benefits
Energy initiatives
NABERS Energy rating of 5.5 stars at 10 of Centralised procurement program
DEXUS’s office properties Delivering savings through portfolio wide
Achieved Green Star ratings for new office tendering process for services including
developments security, mechanical, fire, lifts, cleaning
Piloted the new Green Star performance
rating tool at 60 Castlereagh Street,
Sydney
Building Optimisation Services
Embedded Networks
Centralised analytics via a ‘virtual
engineering’ program across 36 properties Delivering discounted electricity to
— Enhancing sustainability performance customers and a seamless on-boarding experience
— Reducing maintenance and energy — 44 Market Street, Sydney achieved 90%
costs sign-up
— Providing optimal customer comfort
DEXUS Property Group – 2015 Office Insights Tour Slide 5
—
COMMUNITY SERVICES Better workplace experience for our customers
Customer benefits
� Creating convenience
End of trip � Increasing satisfaction from working in a
facilities
DEXUS building
DEXUS benefits
DEXUS � One-on-one conversation with each
tenant portal Concierge individual working in a DEXUS owned
building
� Generating loyalty to the DEXUS portfolio
Customer
contributing to improved platform retention
experience and reduced downtime
Health &
Car park
Wellbeing
solutions
Retail
Services
DEXUS Property Group – 2015 Office Insights Tour Slide 6
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DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR 5

— COMMUNITY SERVICES Car park solutions

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Key partnerships
60
DEXUS car parks
18,257
Car bays
1.7% GoGet national Wilson Parking Divvy web
partnership partnership booking platform
Vacancy in private car Unique DEXUS/GoGet More casual parking Successful trial at
parks offer for customers through “privates” to 1 Margaret Street,
“public” conversions Sydney
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As at 30 September 2015.
DEXUS Property Group – 2015 Office Insights Tour Slide 7
A smarter way to meet
DEXUS Property Group – 2015 Office Insights Tour Slide 8
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6 DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR

DEXUS PLACE

VALUE TO INVESTORS

• New revenue stream for the Group

• Acquisition tool for prospective customers

• Improves tenant retention

• Reduces vacancy risk

PRODUCT & SERVICE

MISSION STATEMENT

• Partnerships in place � Design, develop and to ensure the best deliver premium work technology offering environments that foster creativity,

• � High end concierge innovation and

• service to ensure a productivity, and make

• seamless experience them accessible to a

• every time wide range of businesses

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DEXUS Property Group – 2015 Office Insights Tour Slide 9
Business lounge/Events Meetings rooms Executive boardrooms
Immersive studio Training rooms Auditorium
DEXUS Property Group – Market research 2015 Office Insights Tour Breakout areas Slide 10 Project rooms
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DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR 7

— FITTED SUITES Richard Garing & Andy Collins

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DEXUS Property Group – 2015 Office Insights Tour Slide 11
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FITTED SUITES

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Office leasing by tenancy size

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sqm � Capturing increased demand from small to
250,000
medium sized businesses (FY15 and FY16)
211,071
200,000 186,379
154,321
150,000
100,000
50,000 47%
41%
32%
0
FY13 FY14 FY15
up to 249sqm 250-749sqm 750-1,499sqm 1,500+sqm
DEXUS Property Group – 2015 Office Insights Tour Slide 12
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IMPORTANT INFORMATION

• This presentation is issued by DEXUS Funds Management Limited (DXFM) in its capacity as responsible entity of DEXUS Property Group (ASX:DXS). It is not an offer of securities for subscription or sale and is not financial product advice.

• Information in this presentation including, without limitation, any forward looking statements or opinions (the Information) may be subject to change without notice. To the extent permitted by law, DXFM, DEXUS Property Group and their officers, employees and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of the Information and disclaim all responsibility and liability for it (including, without limitation, liability for negligence). Actual results may differ materially from those predicted or implied by any forward looking statements for a range of reasons outside the control of the relevant parties.

• The information contained in this presentation should not be considered to be comprehensive or to comprise all the information which a DEXUS Property Group security holder or potential investor may require in order to determine whether to deal in DEXUS Property Group stapled securities. This presentation does not take into account the financial situation, investment objectives and particular needs of any particular person.

• The repayment and performance of an investment in DEXUS Property Group is not guaranteed by DXFM, any of its related bodies corporate or any other person or organisation.

• This investment is subject to investment risk, including possible delays in repayment and loss of income and principal invested.

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DEXUS Property Group – 2015 Office Insights Tour Slide 13
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DEXUS PROPERTY GROUP
OFFICE INSIGHTS TOUR — 22 OCTOBER 2015
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DEXUS Funds Management Limited
ABN 24 060 920 783
AFSL 238163 as responsible entity for DEXUS Property Group DEXUS Property Group – [presentation title] Slide 14
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DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR

9

GROSVENOR PLACE, 225 GEORGE STREET, SYDNEY

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Grosvenor Place is a landmark Premium Grade office building located near Circular Quay in the Sydney CBD providing office accommodation over 44 levels, ground floor retail space and car parking for 516 cars. Designed by renowned architect Harry Seidler, the complex also includes The Morrison Hotel and the heritage listed Royal Naval House and Johnson's Building.

The Grosvenor Place complex sits on an entire CBD block overlooking Circular Quay. Grosvenor Place has earned a reputation as one of Sydney's most functional Premium Grade office towers. Its distinctive design features large, highly efficient 2,000 square metre floor plates sitting above a three storey lobby. Floor-to-ceiling windows frame views that capture the beauty of Sydney in a 360 degree panorama. On-site amenities include an undercover casual dining forecourt, The Morrison Hotel and Giovanni's restaurant. Class-leading shower and change room facilities were recently completed and the retail podium is currently being redeveloped.

PROPERTY DETAILS AT 30 JUNE 2015

Building type Premium Grade Office ______________
Title Leasehold ______________
Site Area (hectares) 0.8
______________
Lettable area ('000 m2) 84.8
______________
Lettable area adjusted ('000 m2) 31.8
______________
Typical floor area (m2) 2,000 ______________
Number of buildings 4 ______________
Car parking spaces 516 ______________
NABERS Energy rating: (with GreenPower) 4.5 ______________
NABERS Energy rating: (without GreenPower) 4.5 ______________
NABERS Water rating 4.0 ______________
Year built 1988 ______________
Major tenant Deloitte ______________
Ownership (%) DXS 38 ______________
Co-owner Investa, Commonwealth Superannuation
Corporation, DEXUS Office Partner ______________

PROPERTY STATISTICS AT 30 JUNE 2015

Metro Area Sydney ______________
Zoning Sydney Core Scheme ______________
Acquisition date Feb 2013 ______________
Book value: $m 456.9 ______________
Independent valuation date Dec 2014 ______________
Independent valuation: $m 450.0 ______________
Market cap rate (%) 6.00 ______________
Initial yield (%) 5.87 ______________
Leased by area (%) 93 ______________
Weighted lease term by income: (year/s) 4.7 ______________

Property contact: _ Andy Collins Ph: +61 466 134 170 DEXUS Property Group _

_

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GOVERNOR PHILLIP & MACQUARIE TOWER, SYDNEY

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Governor Phillip & Macquarie Tower complex is one of Sydney's leading Premium Grade office buildings. GPT provides 37 levels of premium office space and GMT provides 25 levels of premium office space. The complex also provides basement parking for 654 cars.

In a prime location selected for Sydney's First Government House more than 200 years ago, 1 Farrer Place offers a positive and productive workplace for businesses, from formal and informal spaces to meet and reflect, to dramatic views from both office towers.

The complex includes GPT, GMT, five historic terraces, two public open spaces, and the Museum of Sydney. The office towers provide highly efficient, column-free rectangular floor plates providing maximum freedom and flexibility. GPT's granite, glass and stainless steel façade is crowned by a six-storey grid of stainless steel blades. The lobby, provides floor-to-ceiling expanses of glass looking over Farrer Place, polished granite floors and sandstone walls, creating a light and airy feel which is complemented by major artworks and comfortable seating. GMT appears as a tower of stepped blocks of granite on a sandstone base. With its 14-metre height, GMT's lobby adjoins GPT's lobby. The complex offers secure parking over eight basement levels for up to 654 cars, end-of-trip and fitness facilities including a 253 space bike facilities, showers/lockers, a premium concierge, formal and informal meeting areas, 24-hour, 7-day onsite security control room. The complex is a few minutes' walk from Circular Quay, Wynyard and Martin Place transport services. By car, there is easy access to all major arterial roads, including the Harbour Bridge approach and the Eastern Distributor.

PROPERTY DETAILS AT 30 JUNE 2015

Building type Premium Grade Office ______________
Title Freehold ______________
Site Area (hectares) 0.6
______________
Lettable area ('000 m2) 86.2
______________
Lettable area adjusted ('000 m2) 43.1
______________
Typical floor area (m2) 1,460 ______________
Number of buildings 3 ______________
Car parking spaces 654 ______________
NABERS Energy rating: (with GreenPower) GPT 4.0 / GMT 4.5 ______________
NABERS Energy rating: (without GreenPower) GPT 3.0 / GMT 3.5 ______________
NABERS Water rating GPT 3.5 / GMT 3.5 ______________
Year built 1993
______________
Major tenant Mallesons ______________
Ownership (%) DXS 50 ______________
Co-owner General Property Trust & Australian Prime
Property Fund ______________

PROPERTY STATISTICS AT 30 JUNE 2015

Metro Area Sydney ______________
Zoning B8 Metropolitan Centre ______________
Acquisition date Dec 1998 ______________
Book value: $m 702.8 ______________
Independent valuation date Dec 2012 ______________
Independent valuation: $m 670.0 ______________
Market cap rate (%) 5.84 ______________
Initial yield (%) 5.68 ______________
Leased by area (%) 84 ______________
Weighted lease term by income: (year/s) 5.3 ______________

Property contact: _ Mark Museth Ph: +61413 004 280 DEXUS Property Group _ _

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DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR 11

5 MARTIN PLACE, SYDNEY

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5 Martin Place is a 19 level Premium Grade building 5 Martin Place is a 19 level Premium Grade building comprising comprising redeveloped heritage buildings and an extended new redeveloped heritage buildings and an extended new development. The building provides a unique premium offering development. The building provides a unique premium offering with large central atrium, triple height foyer, large floor plates with large central atrium, triple height foyer, large floor plates and and occupies a highly prominent corner location in the heart of Martin Place. 5 Martin Place reached practical completion in occupies a highly prominent corner location in the heart of Martin June 2015 and Ashurst moved in in July 2015.Place. 5 Martin Place reached practical completion in June 2015

and Ashurst moved in in July 2015.

The heritage component has been extensively modernised while retaining its distinctive features, including the sandstone facades The heritage component has been extensively modernised while and interconnecting marble clad stairs. The original internal retaining its distinctive features, including the sandstone facades 'light well' has been reinstated to form the central atrium from levels 1 to 11. The upper floors feature a full-height glass facade and interconnecting marble clad stairs. The original internal 'light creating a light filled modern workplace with views over Martin well' has been reinstated to form the central atrium from levels 1 Place and Sydney CBD.to 11. The upper floors feature a full-height glass facade creating

PROPERTY DETAILS AT 30 JUNE 2015

Building type Development Site ______________
Title Freehold ______________
Site Area (hectares) 0.3
______________
Lettable area ('000 m2) 33.4
______________
Lettable area adjusted ('000 m2) 8.4
______________
Typical floor area (m2) 1,100-2,400 ______________
Number of buildings 1 ______________
Car parking spaces 10 ______________
Green Star rating: 5.0 Star (Office Design v2) ______________
Year built 1916/2015
______________
Major tenant Ashurst ______________
Ownership (%) DXS 25 ______________
Co-owner DEXUS Office Partner, Cbus Property ______________

PROPERTY STATISTICS AT 30 JUNE 2015

Metro Area Sydney ______________
Zoning B8 Metropolitan Centre ______________
Acquisition date Apr 2014 ______________
Book value: $m 95.0 ______________
Independent valuation date Jun 2015 ______________
Independent valuation: $m 95.0 ______________

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Property contact:
Peter Morley Ph: +61 415 298 278
DEXUS Property Group
_
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a light filled modern workplace with views over Martin Place and

The office component is currently 96% committed, including Sydney CBD. Including the two major tenants, Ashurst and the two major tenants, Ashurst and Challenger and other signed Challenger, the property is currently 81% pre-leased. leases and Heads of Agreement.

Sustainability:

Sustainability 5 Martin Place is targeting a 5.0 star NABERS Energy rating, a

NABERS Water rating of 3.5 stars. It has achieved a 5 Star Green 5 Martin Place is targeting a 5.0 star NABERS Energy rating, a NABERS Water rating of 3.5 stars. It has achieved a 5 Star Star design rating through sustainable initiatives such as multiGreen Star design rating through sustainable initiatives such service chilled beams, high efficiency façade and movement as multi-service chilled beams, high efficiency façade and activated lighting controls. movement activated lighting controls.

12 DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR

NOTES

ABOUT DEXUS

DEXUS Property Group is one of Australia’s leading real estate groups, investing directly in high quality Australian office and industrial properties. With $19.9 billion of assets under management, DEXUS also actively manages office, industrial and retail properties located in key Australian markets on behalf of third party capital partners. DEXUS manages an office portfolio of 1.7 million square metres across Sydney, Melbourne, Brisbane and Perth and is the largest institutional owner of office buildings in the Sydney CBD, Australia’s largest office market. DEXUS is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange under the stock market trading code ‘DXS’ and is supported by more than 32,000 investors from 19 countries. With 30 years of expertise in property investment, development and asset management, DEXUS has a proven track record in capital and risk management, providing service excellence to tenants and delivering superior risk-adjusted returns to investors. www.dexus.com

DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)

DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR 13

DEXUS PROPERTY GROUP - OFFICE INSIGHTS TOUR - 22 OCTOBER 2015

14 DEXUS PROPERTY GROUP - 2015 OFFICE INSIGHTS TOUR