DEXUS — Interim / Quarterly Report 2009

Feb 17, 2009

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18 February 2009

The Manager Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000

DEXUS Funds Management Limited ABN 24 060 920 783 AFSL: 238163 Level 9, 343 George Street Sydney NSW 2000 PO Box R1822 Royal Exchange NSW 1225 Telephone 02 9017 1100 Direct 03 8611 2930 Facsimile 03 8611 2910

Email: karol.oreilly@dexus.com

Dear Sir / Madam

– DEXUS Property Group (ASX: DXS) Half year results 2008 ASX release and presentation

DEXUS Funds Management Limited, as responsible entity for DEXUS Property Group (DXS), provides the following documents to the Australian Stock Exchange:

• ASX Release – DEXUS Property Group – Half Year Results to 31 December 2008; and

• Presentation – Half Year Results 2008

For further information, please contact:

CEO, DEXUS Property Group:	Victor Hoog Antink	(02) 9017 1129
Investor Relations:	Karol O’Reilly	(03) 8611 2930
Media Relations:	Emma Parry	(02) 9017 1133

Yours sincerely

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Tanya Cox Company Secretary

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DEXUS Property Group (ASX: DXS)
Half Year 2008 Results
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18 February 2009

DEXUS Property Group announces Half Year 2008 results

Key financial highlights:

• Earnings from operating activities $251.4m (2007: $254.4m)

• Funds from operations (FFO) $188.7m (2007: $172.9m)

• Total distribution $132.1m (2007: $172.9m)

• Distribution per security 3.8 cents as per distribution guidance

• Funds under management $15.2bn (June 2008: $15.3bn)

• Total assets $9.6bn (June 2008: $9.3bn)

• Net tangible assets of $1.33 per security (June 2008: $1.77)

• Net accounting loss of $954.3m includes non-cash asset devaluations of $773m and unrealised fair value adjustments on derivatives of $429m (2007: profit $432.7m)

• Gearing at 37.3% (June 2008: 33.2%)

Announcing DEXUS Property Group’s Half Year results, CEO Victor Hoog Antink said, “Despite challenging market conditions, the active management focus of our experienced team continues to deliver solid results, with $251.4 million of operating earnings achieved in the half year ending December 2008.

Adverse market conditions are being reflected in a softening of capitalisation rates and continued negative market sentiment, which is resulting in declining property valuations worldwide. As announced to the market at our recent EGM, DEXUS has written down property values by $773 million, with the US and European portfolios being most affected by this downturn”.

The Group’s statutory accounting result for the half year is a net loss after tax attributed to security holders of $954 million. This result is after allowing for non-cash unrealised mark to market derivatives losses of $428 million, property devaluations and impairment of property plant and equipment totalling $773 million and an $84 million deferred tax benefit, primarily as a result of the US property devaluations and derivative losses.

Key capital management initiatives:

• Refinanced over $950m of maturing debt and obtained additional debt commitment of $250m

• � Revised distribution policy to reflect payout ratio of 70% of FFO, retaining 30% for operational and leasing capex

• Equity placement of $300m, Securityholder Purchase Plan of $12m and DRP

• S&P reaffirmed rating of BBB+ in November 2008

• Disposal of one-third interest in 1 Bligh Street to Cbus Property

“Through our prudent approach to capital management we continued to strengthen our balance sheet with a number of key initiatives in the period, including the capital raising of $300 million in December and the de-risking of our major development, 1 Bligh Street in Sydney, with the disposal

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DEXUS Property Group (ASX: DXS)
Half Year 2008 Results
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of a 33% interest to Cbus Property, which reduces DEXUS’s committed development exposure by more than $200 million.

DEXUS has a sound capital management framework, limited secured debt and no off balance sheet debt. Gearing remains well within our debt covenants. We have successfully refinanced all 2009 debt maturities, well ahead of their expiry dates and our committed developments are fully funded to completion in 2011”.

Commenting on the Group’s future development pipeline, Victor Hoog Antink said, “We will not commence any of our uncommitted development pipeline projects until they are fully funded, meet our investment criteria and have appropriate tenant pre-commitments”.

Key operational highlights:

• Like for like income growth 1.5%

• Australian Net Property Income 68.5% of operating earnings, International 29.5%

• High portfolio occupancy at 93.1%

• Lease duration steady at 4.8 years

• Strong leasing activity of 343,166sqm

Commenting on the operational results, Victor Hoog Antink said “Property fundamentals remain solid and we have achieved significant leasing activity in the period with high occupancy and retention rates across all sectors, reflecting the strong relationships we have with our tenants.

Our high quality portfolio continues to perform well and we are working diligently to maximise its potential through a continued focus on active portfolio management, prudent development management and proactive financial and capital management”.

Office

Highlights:

• Solid performance in all key metrics

• Contributed $119.1 million or 46.2% of the Group’s net property income

• Like for like income growth 3.1%

DEXUS Property Group’s high-quality office portfolio continued to perform well during the period, driven by proactive leasing and property management. Working in partnership with our tenants we continued to achieve high occupancy and tenant retention rates, with occupancy at 98%, tenant retention 74% and average lease duration of 5.5 years.

Office net property income of $119.1 million decreased by 3.2% over the prior period with new leases and renewals negotiated on 25,000 square metres of existing office space, delivering an average rental increase of 10.2%.

During the period, DEXUS made substantial progress with the construction and leasing of its three developments. Development of additional floor space at 60 Miller Street in North Sydney will complete in late February 2009 and is 100% pre-leased. The construction of 123 Albert Street, Brisbane and 1 Bligh Street, Sydney is proceeding on track. Both projects are designed to achieve

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DEXUS Property Group (ASX: DXS)
Half Year 2008 Results
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6 Star Green Star and 5 Star NABERS Energy ratings, delivering world’s best practice in sustainability and providing the highest levels of tenant amenity and quality workspace.

In addition to Rio Tinto’s 68% pre-commitment at 123 Albert Street, we have secured Clayton Utz to occupy over 55% of 1 Bligh Street and we are in negotiations with tenants on a significant portion of the balance of the space at both these flagship office developments.

Operational excellence initiatives

In the half year we completed a number of initiatives which are contributing to greater operational efficiencies. As announced in 2008, we brought property management in-house in our Australian office portfolio which, in addition to forging closer relationships with our tenants, will enable DEXUS to maximise synergies and drive further efficiencies across the platform. In the half year, we also consolidated our multiple Facilities Management arrangements to one national provider in Office & Industrial, resulting in improved efficiencies in service delivery and cost savings.

Retail

Whitford City in WA, which we co-own with Westfield, contributed $7.7 million or 3.0% of net property income. The centre continues to perform well with occupancy by area of 99.9% and average lease duration remaining steady at 4.3 years. Moving Annual Turnover was $474 million.

Industrial

Highlights:

• Solid performance from the Australian Industrial portfolio – 3.4% like for like growth

• Weaker performance from the US and Europe

• Overall portfolio contributed $131m or 50.8% of net property income

• Overall value increased to $4.18bn (June $3.85bn)

Australia:

The Australian industrial portfolio, valued at $1.6 billion, contributed $53.4 million or 20.7% of net property income. Active portfolio management saw new leases, renewals and heads of agreements negotiated on 115,000 square metres or 10% of the portfolio. Occupancy by area is at 97%, tenant retention rates are above historic averages at 79% and the average lease duration increased slightly to 4.5 years (June 4.4 years).

Europe:

The Group’s assets in France and Germany are valued at $325.2 million, contributing $11.6 million or 4.5% of net property income in the period. Occupancy and lease durations are at 87.7% and 3.3 years respectively.

North America:

The North American portfolio, which is valued at $2.2 billion, contributed $66 million or 25.6% of net property income.

Challenging market conditions are starting to impact results with like for like earnings down slightly by 2.2%. However the underlying fundamentals of the portfolio remain sound with an active management approach delivering results. Active leasing in the period saw 210,000sqm leased and tenant retention solid at 70%. Overall occupancy is slightly down by 1% to 90.8% but average lease

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DEXUS Property Group (ASX: DXS)
Half Year 2008 Results
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duration increased to 4.3 years (June 3.9 years). The Whirlpool program is on track and the remaining three properties are scheduled to be acquired later in 2009, with an estimated value of A$329 million.

Sustainability

DEXUS continued to drive sustainable performance in the period with continued focus on resource efficiency projects, community engagement and sustainable developments. In December the Group received an Environmental award nomination at Ethical Investor’s 8[th] Annual Sustainability Awards and in January 2009, DEXUS was named one of the world’s 100 most sustainable corporations in the fifth annual “Global 100” list, announced at the Davos World Economic Forum in Switzerland.

CEO Victor Hoog Antink said, “At DEXUS we have made a long-term commitment to Corporate Responsibility & Sustainability and we are delighted to achieve external recognition of our progress. As one of only three Australian companies included in the Global 100 list, we are particularly proud to have been recognised as leading the way in this important area”.

Outlook

Mr Hoog Antink said, “In 2009, we expect conditions to continue to be challenging with continued pressure on property valuations and new leasing enquiry slowing, with tenants preferring to stay put rather than relocate. Our focus will remain on:

• actively managing our property portfolio to extract value and deliver sustainable income

• driving a high performance culture and delivering service excellence for our customers

• actively managing our balance sheet and continuing to maintain prudent and diverse funding sources

In summary, our superior portfolio, experienced management team and focused strategy means we are well-positioned to respond to the current market conditions and deliver sustainable returns for our investors.

Barring unforseen circumstances, the Group is positioned to deliver earnings of 10.8 cents per security and distributions of 7.6 cents per security in the year ending 30 June 2009”.

For further information, please contact:

Victor Hoog Antink, CEO (02) 9017 1129

Karol O’Reilly, Investor Relations (03) 8611 2930 or 0405 134 856

Emma Parry, Media Relations (02) 9017 1133 or 0421 000 329

About DEXUS

DEXUS is one of Australia’s largest diversified property groups and a leading owner, manager, developer of world-class industrial, office and retail properties with total assets under management of $15.2 billion in Australia, New Zealand, the United States, Canada and Europe.

DEXUS is committed to the long-term integration of sustainability practices throughout its property portfolio and was recently recognised as one of the Global 100 Most Sustainable Corporations at the World Economic Forum in Davos. www.dexus.com

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DEXUS Property Group Half Year Results 31 December 2008

Half Year Results 2008

Victor Hoog Antink Chief Executive Officer

State of the market – DEXUS focus

Market

• Challenging and volatile environment

• Impacting capital markets

• Impacting all business operations

DEXUS focus

• Actively managing our property portfolio to extract value and deliver sustainable income

• Pro-actively managing our balance sheet and maintaining prudent and diverse funding sources

• � Driving a high performance culture, operational efficiencies and service excellence for our customers

Well positioned: solid portfolio, focused team

• Strategic focus – leading owner, manager, developer

DEXUS Group operating model[1]

• superior quality office and industrial portfolio

• key locations in selected markets

� Strong tenant relationships

• quality covenants

• high retention rates

• long tenure

• Experienced management team

• high performance culture

• focussed on active management of properties and balance sheet

� Market leader in sustainability

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• recognised as one of Global 100 Most Sustainable Companies at Davos

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Prudent & proactive capital management

• Proactive capital management - $1.5bn secured

Debt

• refinanced all 2009 debt maturities to Feb 2010 - $950m

• additional $250 million facility obtained

• Standard & Poors rating BBB+ reaffirmed in Nov 2008

Equity

• $300 million placement

• DRP participation 30%

• All committed developments funded to completion

• Prudent distribution policy

• payout ratio of 70% of FFO

• Post balance date: Asset sale/development de-risking

Results at a glance

�Financial	Dec 08	Dec 07
–operating earnings	$251.4m	$254.4m
–FFO per security	5.4c	5.9c
–DPS	3.8c	5.9c
–revaluations (devaluations)	($773m)	$337m
–gearing	37.3%	31.3%
�Operational
–like-for-like property income	1.5%	4.4%
–portfolio occupancy	93.1%	95.1%
–lease duration	4.8 yrs	4.9 yrs

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Agenda

� Financial performance Craig Mitchell � Office portfolio Louise Martin � Industrial portfolio Andrew Whiteside � International portfolio Paul Say

� Third party funds management Victor Hoog Antink � Summary and outlook Victor Hoog Antink

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Financial performance Craig Mitchell Chief Financial Officer

Non-cash items dominate NPAT

			Dec 08	Dec 07
			$’m	$’m
	NPAT to stapled security holders		(954.3)	432.7
	Add back:
	Non cash: unrealised MTM loss on derivatives		427.9	72.3
	Non cash: devaluations/(revaluations) of investment property/PPE		773.0	(337.1)
	Non cash: deferred tax benefit		(83.8)	(8.9)
	Net finance cost and other		88.6	95.4
	Operating earnings1		251.4	254.4
	Funds from operations2		188.7	172.9
	Distribution(70% of funds from operations)		132.1	172.9

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Rental income drives operating earnings

Owned Assets

Operating Earnings

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$9.0bn [1]
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$251.4m
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• Highly diversified property portfolio

• Property assets represent 94% of total assets

• Rental income represents 98% of operating earnings

Performance of funds from operations

	Dec 08 $’m	Dec 07 $’m
Office Industrial - Australia Industrial – International Retail Development gains Management EBIT1 Responsible Entity fees1 Operating earnings Net finance cost and other2,4 Distribution adjustments3 -Cum dividend adjustment for placement -Incentive amortisation/other4 Funds from operations5 FFO per security	119.1 53.4 77.6 7.7 - 5.3 (11.7) 251.4 (88.6) 18.7 7.2 188.7 5.43c	123.0 52.3 65.6 19.9 5.9 4.9 (17.2)
		254.4 (90.7) - 9.2
		172.9
		5.90c

1. Dec 08 Responsible Entity fees are shown at cost following internalisation in Feb 08. This Responsible Entity fee expense and the corresponding management fee revenue are eliminated in the statutory financial statements as the management company is a wholly owned consolidated entity

2. Includes finance costs, other income/expenses, current tax expense and minority interests

3. Dec 08 includes all distribution adjustments except for property revaluations and impairments totalling ($773m), unrealised MTM of derivatives of ($427.9m) and deferred tax benefit of $83.8m (refer appendix slide 53)

4. Net loss on sale of investments of $4.7m has been excluded from the Dec 07 comparative

Property values have continued to decline

• Limited actual sales evidence for devaluations

• Valuation drivers for Dec 08

Australia

• primarily due to cap rate softening

North America & Europe

• primarily due to operating fundamentals and cap rate softening

• Uncertainty surrounding future values

• operating fundamentals

• cap rate changes

Capitalisation rates continue to soften

• Average capitalisation rates have softened by 72 bps in the last six months

• Entire portfolio revaluation decrease of $773 million or (8.1%) over last six months

	Cap rate	Cap rate	Change	Property	1H09	De-valuation
	Jun 08 %	Dec 08 %	bps	$’m1	$’m	%
Australia office	6.4	7.0	58	4,180	(174)	4.0
Australia industrial	7.5	8.1	60	1,416	(78)	5.2
Australia retail	5.8	6.3	45	280	0	0.0
North America industrial2	6.9	7.9	105	2,134	(384)	15.2
European industrial	6.4	7.7	123	325	(66)	16.8
Impairment of PP&E				483	(71)
Total	6.7	7.4	72	8,818	(773)	8.1

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Net asset value composition

• Property devaluations of $702.2 million or 20 cents of NTA

• Impairment of PP&E of $70.8 million or 2 cents of NTA

• Mark to market losses on derivatives of $427.9 million or 12 cents of NTA

• NTA not impacted by currency movements due to hedging strategies

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Active capital management

� Refinanced all 2008 & 2009 debt maturities

Gearing ratios

• $950 million from ongoing and new banking relationships

• Additional commitments of $250 million

• Placement raising over $300 million

• natural DRP participation 30%

• Distribution policy changed

• payout ratio 70% of FFO effective FY09

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• 30% retained for operating and leasing capex

• Asset sales/development de-risking

• JV with Cbus reduces interest in 1 Bligh Street to 33%

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Pro-active debt management

• Committed undrawn facilities exceeded $700m

Maturity profile Dec 08

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($m)
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• Debt duration steady at 3.0 years

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• Gearing (adjusted for cash) 37.3%[2]

• No debt refinancing until Feb 2010

• Committed development and acquisitions fully funded until 2011

• Well within key covenants[1]

• gearing <55% actual 38.0%[2]

• interest cover >2.0x actual 2.7x

• priority debt <30% actual 10.3%

• S&P rating BBB+ reaffirmed

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Sound capital framework

• Diversified investments and funding sources

Facility mix Dec 08

• strong relationship with banking group

• Protection against movements in currency on debt and covenant headroom

• balance sheet hedging

• foreign currency denominated facilities

• Transparent debt structure

• no off balance sheet debt (no look through adjustments)

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• majority of facilities unsecured

• all rank pari passu

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Office Portfolio Louise Martin Head of Office

Highlights – solid performance in difficult times

• High quality portfolio assets and good tenant diversification

• Solid portfolio performance

• Intensive management of portfolio with focus on cashflow

• Substantial progress of development pipeline and de-risking of developments

Quality portfolio – strategic location, quality assets

• High quality assets – 94% of office buildings are Premium or A-grade[1]

• Geographic spread over 6 key locations – 69% of portfolio located in Sydney

Allocation by asset class

Geographical allocation by market

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Office market – well positioned in key markets

• Leasing demand expected to remain weak in 2009/10

• Vacancy is forecast to rise in all major office markets

• Sydney & Melbourne helped by below average levels of new supply in the next 3 years – 83% of DXS portfolio

• Perth & Brisbane face the challenge of rising supply levels and a weakening resource sector – 2 DXS properties only

Supply and vacancy – Sydney CBD

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('000m [[2]] )
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('000m [[2]] ) (% of stock)
Total completions (LHS) Vacancy (RHS)
200 25%
Past 10 year
average
completions
20%
15%
100
10%
5%
0 0%
1998 2000 2002 2004 2006 2008 2010(f) 2012(f)
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Source: DEXUS Property Group

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Tenant diversification delivering sustained income

� Well diversified by tenant sector

Economic diversity of tenants

• top 20 tenants generate over 50% of income

• secure income from Government tenants

• income evenly spread across industry groups

% of Sector Top ten office tenants (by income) NPI

• 1 Woodside Energy Ltd 6.3% 2 State of NSW 5.1%

• 3 Commonwealth of Australia 4.6% 4 State of Victoria 3.3%

• 5 IBM Australia Limited 3.3% 6 Lend Lease Corporation Limited 3.1% 7 Mallesons 2.8%

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• 8 The Herald & Weekly Times Limited 2.2%

• 9 HBOS Australia Pty Ltd 2.1%

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10 PKF 1.6%

Strong portfolio fundamentals

� Solid like on like growth NPI

(%) Office lease expiry by income

� High occupancy rates

� Limited market exposure

• High retention rates

• Good lease duration

• Expiries for FY09 well managed

• Capitalisation rates softening

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Source: DEXUS forecast as at Nov 08

Net Property	Like-	Occupancy	Occupancy	% Over/Under	Exposure to	Retention	Lease	Portfolio	Avg cap
Income	for-like	(area)	(income)	Rented	Open Market	rates	duration1	value2	rate
					Reviews
$119.1m	3.1%	98.0%	98.2%	9% under	FY09 – 4%	74%	5.5yrs	$4.5bn	7.0%

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Office leasing – strong performance, active management

• 70% of FY09 expiries leased or renewed

Rent review profile

• 25,000sqm leased - 64 transactions

• Average rental increase was 10.2%[1]

• Major deals with Adobe, Dairy Australia and Australia Post

• Rent review profile de-risked

• 90% (FY09) and 82% (FY10) are fixed, CPI, or cap/collar

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Office development underway and de-risked

• Developments are on track

• 123 Albert Street – 38,000sqm

• 68% pre-committed to Rio Tinto

• completion Dec 2010

• $250 million remaining to spend

• 60 Miller Street – 5,000sqm

• 100% pre-leased

• practical completion Feb 09

• 1 Bligh Street – 42,000sqm

• 55% pre-committed to Clayton Utz

• completion mid 2011

• $150 million[1 ] remaining to spend

2009 office focus

• Active management through integrated model

• property, asset and development management

• leasing of vacancies

• tenant retention through service excellence from our internal property management teams

• Continued implementation of sustainability programs at property management

• Pro-active leasing — de-risking of portfolio and developments

• Development delivery — leasing balance of space

• Delivering sustainable cash flows

Australian Industrial Portfolio Andrew Whiteside Head of Industrial

Highlights – active management delivering results

• Sound portfolio fundamentals

• strategic mix of assets/strong tenant profile

• Active management approach

• locking in tenure/maximising sustainable cash flows

• Delivering strong results

• 3.4% like for like income growth

• preserving portfolio value

• Driving value

• repositioned the team

• leveraging strategic relationships

• adapting development approach

Diversified portfolio – quality assets, strategic location

• Flexible product – strategically located

• Continued market appeal – 97% occupancy

Property type

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Geographic weighting

Industrial activity and property returns

� 80% of industrial property returns comes from income historically

%

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% pa growth
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Quality portfolio – strong tenant profile

Economic diversity of tenants

Top 10 customers (by income)

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(%)
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• Well diversified by industry sector

• 70% of income secured on 5+ year terms

• Top 20 tenants make up 45% of rent

Portfolio fundamentals - sound performance

• Solid like-for-like growth

Rent review profile

• Strong rent review structure 3.7% YTD

• High occupancy maintained

• Limited exposure to market in the next 12 months

• Capitalisation rate softened 60bps

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Net Property	Like-for-	Occupancy	Occupancy	% Over/Under	Mkt review next	Retention	Lease	Portfolio	Avg cap
Income	like	(area)	(income)	Rented	12 months1	rates	duration1	value	rate
$53.4m	3.4%	96.8%	96.6%	3.5% over	4.3%	79%	4.5	$1.6bn	8.1%

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Industrial leasing – intensive activity

• Strong leasing with 115,000sqm leased

Lease expiry profile June 08 to Dec 08

• 80% of FY09 expiries negotiated

(%)

• Continued success with existing tenants

• retention at 79%

• Average rental growth of 0.1%

• 3.5% for new leases

• Major leasing deals include:

• Toll at Knoxfield 35,000sqm, 5yrs

• DHL at Arndell Park 9,600sqm, 5yrs

• Atlas Copco at Blacktown 8,100sqm, 5yrs

• 21% of FY10 expiries negotiated/FY13+ increased 15%

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Developments – flexibility in key markets

• Strategic sites in two key locations

• Laverton North, Melbourne

• Greystanes, Western Sydney

• Staged approach with steady enquiry

• proven appeal to users

• project track record

• No committed developments underway

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Greystanes acquisition in stages

• Commencement contingent upon

• pre-commitment and additional appropriate funding

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2009 industrial focus

• Active focus on the fundamentals

• experienced team focused on delivering on strategy and operational excellence

• protecting value through active management

• extracting value from operations

• Well positioned for the future

• quality, flexible portfolio with capacity

• brand momentum in key markets

• leveraging key tenant relationships with an adaptive development approach

International Industrial Portfolio

Paul Say Head of Corporate Development

Active management in a challenging market

• Challenging market conditions impacting results

• like on like earnings down

• valuations written down

• Sound portfolio fundamentals

• quality assets

• flexible asset mix

• diverse tenant profile

• Active management approach

• proactive leasing

Total property portfolio by value[1]

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• sustainable cash flow

• reduced capex

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Sector now feeling impact of global economic slowdown

• Diminishing global trade and domestic demand

• sharp turndown in US market sentiment

• Europe continues to be challenging

• sub-prime debt markets hit hardest

• Valuations down sharply reflecting sentiment

• North America down 15% - US$257 million

• Europe down 17% - €32.7 million

• Our US developments devalued by US$32 million

Sharp decline in US confidence in Q4

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Quality, diversified & adaptable portfolio

� Quality institutional grade properties

Economic diversity of tenants

� Highly diversified portfolio

� Strategically located

� Economic diversification in tenant base

� Strong tenant relationships

% of Sector NPI

Top 10 North American tenants (by income)

• 1 Whirlpool Corporation

12.5%

• 2 AT&T Corporation

• 2.2%

• 3 US Government - Transport Services Admin.

• 1.6%

• 4 Savvis Communication Corporation

• 1.5%

• 5 US Government - General Services Admin.

• 1.5%

• 6 Skechers USA, Inc.

• 1.2%

• 7 Square D Company

• 1.2%

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• 8 Proctor & Gamble - Graham Webb International 1.2%

9 Domtar Paper Company 1.1%

Portfolio metrics

• Strong leasing activity has seen 210,000sqm leased in 59 deals

• Earnings profile

• like on like earnings down:

  • occupancy slightly down by 1% to 90.8%

  • additional tenant incentives

• fixed rent reviews of 2-3% on 70% of portfolio

• Early signs of arrears starting to weaken

North American lease expiry profile by income

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	Net Property Income	Like for like	Occupancy by area	Occupancy by income	% Over/ Under Rented	Mkt review next 12 months	Retention rates	Lease duration1	Portfolio value2	Avg cap rate
North America	A$66.0m	(2.2%)	90.8%	90.0%	0.0%	15.8%	70%	4.3yrs	A$2.2bn	7.9%
Europe	A$11.6m	(2.8%)	87.7%	90.6%	8.4% Under	11.1%	n/a	3.3yrs	A$0.3bn	7.7%

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International outlook: continued volatility

• Our portfolio fundamentals remain sound

• quality portfolio delivering results

• strong tenant relations

• Preparing to actively reposition international portfolios when market conditions improve

• Active management is a key priority

• maintaining occupancy

• maximising earnings

• minimising costs

Third Party Funds Management Victor Hoog Antink

Third party management business - highlights

• One of the largest third party platforms in Australia at $6.1 billion

• Well diversified by investor base and asset class

• Annuity income stream – no reliance on performance fees

• $240 million developments underway

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Source of Funds
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$6.1 billion
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Fund breakdown

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$6.1 billion
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Summary and Outlook Victor Hoog Antink Chief Executive Officer

Well positioned to respond to market cycles

• Focused strategy

• High quality portfolio

• Delivering core property earnings

• Prudently managed balance sheet

• Experienced management team

2009 focus

• Maximising cash-flows

• active portfolio management – enhancing our property portfolio

• active capital management – strengthening our balance sheet

• FY09 guidance

• earnings of 10.8 cents per security

• distribution of 7.6 cents per security

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Questions

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
Half Year Results 2008 — Appendices
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Balance sheet

DEXUS Property Group	Dec 08	Jun 08
	$’m	$’m
Cash & receivables	145	136
Property assets	8,948	8,738
Other (including derivative financial instruments & intangibles)	482	475
Total assets	9,575	9,349
Payables & provisions	277	323
Interest bearing liabilities	3,455	3,007
Other (including derivative financial instruments)	774	184
Total liabilities	4,506	3,514
Less minority interest	207	206
Less intangible assets	234	255
Net tangible assets (after minority interest)	4,628	5,374
NTA per security (excluding minority interest) ($)	1.33	1.77
Gearing (net of cash)	37.3%	33.2%

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Net property income reconciliation to P&L

	31 Dec 08
	$’m
Property revenue	342.8
Less: Property expenses	(82.6)
Plus: Net property income from equity a/c investments	—
Less: Amortisation, depreciation and eliminations	(2.4)
Total NPI	257.8
Represented by:
Office	119.1
Industrial Australia	53.4
Industrial International	77.6
Retail	7.7
Total NPI by sector as reported	257.8
Management EBIT1	5.3
Development gains	—
Responsible entity fees1	(11.7)
Operating earnings	251.4

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Interest reconciliation

		31 Dec 08
	$’m	$’m
Interest paid/payable	100.3
Other finance costs	1.5
Interest expense		101.8
Realised interest rate swaps	(5.0)
Unrealised interest rate swaps MTM	407.2
Net fair value loss (gain) of interest rate swaps		402.2
Total interest expense		504.0
Less interest capitalised		(18.2)
Finance costs		485.8

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Profit to funds from operations reconciliation

	Group	Property	MTM	Incentive	Straight	Deferred	P/L on sale	RENTS	Other	Distributable
	Consolidated	revals/	derivs &	amort	line rent	tax	of invest	capital		earnings
		Impairment	FX		adjust		prop	distribution
Revenue from ordinary activities
Propertyrevenue	342.8			15.6	(2.1)					356.3
Interest revenue	2.0									2.0
Management fees	28.3									28.3
Share of net profits of associates accounted for using the equitymethod	—									—
Net loss on sale of investmentproperties	(0.4)						0.4			—
Net foreign exchangegain/(loss)	0.1									0.1
Other income	0.5									0.5
Total income	373.3									387.2
Expenses
Propertyexpenses	(82.6)									(82.6)
Net fair valuegain/(loss)of derivatives	(20.7)		20.7							—
Net fair value loss of investmentproperties	(702.2)	702.2								—
Impairment	(70.9)	70.8							0.1	—
Finance costs	(485.8)		407.2							(78.6)
Depreciation	(2.4)			0.3						(2.1)
Compensation related expenses	(30.8)									(30.8)
Other expenses	(12.7)								(0.6)	(13.3)
Total expenses	(1,408.1)									(207.4)
Profit before tax	(1,034.8)									179.8
Tax expense
Income tax benefit/(expense)	(0.7)					0.3				(0.4)
Withholdingtax benefit/(expense)	83.6					(84.1)				(0.5)
Total tax expense	82.9									(0.9)
Net profit attributable to other minority interests	(2.4)							(6.5)		(8.9)
Cum-div distribution adjustment	—								18.7	18.7
Profit after tax and minority interest	(954.3)	773.0	427.9	15.9	(2.1)	(83.8)	0.4	(6.5)	18.2	188.7
Distribution (70% of FFO)										132.1
Securities on issue (million)										3,476.8
Distributionper security (cents)										3.80

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Funds management contributionFunds Management Contribution

Arthur P

	31 Dec 08
	$’m
Internal Responsible Entity fee revenue (at cost)	11.71
Third party management fees and other revenue	31.82
Compensation related expenses	(30.8)3
Other corporate expenses	(7.4)4
Management EBIT	5.3
Net interest expense	(4.6)5
Tax expense	(0.2)6
Net income after tax	0.5

1. Shown as “Responsible Entity fees” in slide 11, eliminates on consolidation

2. Per “Management fees” and part of “other income” in FFO reconciliation slide

3. Per “Compensation related expenses” in FFO reconciliation slide

4. Included in “Other expenses” in FFO reconciliation slide

5. $0.7m included in “Interest revenue” in FFO reconciliation slide, balance eliminates on consolidation

6. Included in “Income tax expense” in FFO reconciliation slide

External revaluation summary

Property sector % of book value externally valued Valuation ($’m) External revaluation Previous book value ($’m) Change in book value %	Portfolio average cap rate2%
Office Australia — NSW 43.2 1,284 (98) 1,382 (7.1) Australia — VIC 25.3 160 25 135 18.2 Australia — ACT Australia — WA New Zealand	6.6 7.7 8.0 7.8 7.5
Total office 33.2 1,444 (73) 1,517 (4.9)	7.0
Industrial New South Wales 19.5 171 (14) 185 (7.4) Victoria 2.5 16 (1) 17 (5.6) South Australia 100.0 27 1 26 3.9 Queensland Western Australia	8.1 8.1 9.0 7.8 7.8
Sub-total industrial — Australia 13.3 214 (14) 228 (6.0)	8.1
North America Europe 100.0 325 (66) 391 (16.8)	7.9 7.7
Total industrial 12.9 539 (80) 619 (12.9)	7.5
Whitford City Shopping Centre	6.3
Total investmentproperties1 22.5 1,983 (153) 2,136 (7.2)	7.4

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Revaluation summary

		Office	Industrial	Retail	North America	Europe	Total
		$m	$m	$m	$m	$m	$m
	P&L Revaluations — investment properties
	External valuations	(60)	(14)	—	—	(66)	(140)
	Internal valuations	(114)	(64)	—	(384)	—	(562)
	Sub total	(174)	(78)	—	(384)	(66)	(702)
	P&L revaluations — PP&E
	External valuations	(13)	—	—	—	—	(13)
	Internal valuations	—	(10)	—	(48)	—	(58)
	Sub total	(13)	(10)	—	(48)	—	(71)
	Total P&L revaluations	(187)	(88)	—	(432)	(66)	(773)
	Carry value — investment properties
	Externally revalued	1,424	214	—	—	325	1,963
	Internallyrevalued	2,756	1,202	280	2,134	—	6,372
	Sub total	4,180	1,416	280	2,134	325	8,335
	Carry value PP&E
	Externally revalued	20	—	—	—	—	20
	Internallyrevalued1	152	192	—	113	—	457
	Sub total	172	192	—	113	—	477
	Carry value — equity accounted
	Externally revalued	—					—
	Internallyrevalued	130	—	—	—	—	130
	Sub total	130	—	—	—	—	130
	Total carry value1,2	4,482	1,608	280	2,247	325	8,942

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Key financial risk management measures

	Dec 08	Jun 08
Gearing1	37.3%	33.2%
Interest cover	2.7x	3.0x
Headroom (approx)	$700m	$500m
Duration of debt	3.0 yrs	3.0 yrs
Interest hedge duration	6.0yrs	6.2 yrs
Weighted average cost of debt2	5.3%	5.4%
Debt hedged	91%	86%
Foreign balance sheet hedged3	100%	93%
Foreign income hedged	93%	91%
S&P rating	BBB+	BBB+

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Debt profile

	Facility limit	Drawn amount	Maturity dates	Security1	Currency
	A$’m	A$’m
Syndicated bank debt	300	227	Mar 10	Unsecured	Multi-ccy, A$ limit1
	303	303	Sept 10	Unsecured	Multi-ccy,US$limit2
Bilateral bank debt	360	308	Dec 10	Unsecured	Multi-ccy, A$ limit1
	145	70	Sept 11	Unsecured	Multi-ccy, A$ limit1
	178	162	May 12 – Jul 12	Unsecured	Multi-ccy, A$ limit1
	250	204	Apr 12	Unsecured	Multi-ccy, A$ limit1
	250	150	Sept 13	Unsecured	Multi-ccy, A$ limit1
	173	73	Dec 13	Unsecured	Multi-ccy,US$limit2
Secured bank debt	2503	—	Oct 11	Secured	A$
	2503	—	Dec 12	Secured	A$
	250	—	Jul 11	Secured	A$
	104	104	Mar 094	Secured	US$
	325	325	Sept 115	Secured	US$
	3	3	Oct 11 – Jan 15	Secured	US$
Medium term notes	250	250	Feb 10	Unsecured	A$
	200	200	Feb 11	Unsecured	A$
	7	7	Sept 10	Unsecured	US$
USprivateplacement notes	577	577	Feb 11 – Mar 17	Unsecured	US$
CMBS(Refinanced)	—	500	Apr 093	Secured	A$
Total	4,175	3,463
Bank Guarantee utilised		8
Headroom		704

Conversion rates: AUD/USD 0.6928, AUD/EUR 0.4919, AUD/CAD 0.8441.

Debt profile by jurisdiction

	Weighted average	Interest bearing	Cross currency	Interest hedge
	**cost of debt1 **	liabilities	swaps3	duration
	%	millions	millions	years
Australia/New Zealand	5.65	A$1,896	A$(1,012)	5.0
USA	4.72	US$969	US$610	6.4
Europe	4.65	€83	€100	5.4
Canada	4.93	—	C$70	9.0
Average/total2	5.25	A$3,463	—	6.0
Plus amortised debt costs		A$8
Current & non-current interest bearing liabilities		A$3,455

• Balance Sheet naturally hedged through foreign liabilities

• Cross currency swaps used for cash management purposes, and to reduce the impacts of currency volatility

• No US$ debt drawn under multi-currency facilities

Mark to markets

A$ interest rate swap mark to market movement

US$ interest rate swap mark to market movement

	Jun-08 Dec-08 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% % A$ IR MTM A$ hedge rate A$ 5 yr swap rate Net movement (A$101m) -250 -200 -150 -100 -50 0 Jun-08 Dec-08 US$m 2.00% 3.00% 4.00% 5.00% % US$ IR MTM US$ hedge rate US$ 6 yr swap rate Net movement (US$182m)	Jun-08 Dec-08 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% % A$ IR MTM A$ hedge rate A$ 5 yr swap rate Net movement (A$101m) -250 -200 -150 -100 -50 0 Jun-08 Dec-08 US$m 2.00% 3.00% 4.00% 5.00% % US$ IR MTM US$ hedge rate US$ 6 yr swap rate Net movement (US$182m)
-80 -60 -40 -20 0 20 40 60 80 A$m
	A$ IR MTM
Mark to market reconciliation Jun 08 to Dec 08		Interest rate swaps (A$m) Foreign exchange contracts Cross currency swaps (interest component) Cross currency swaps (FX component) Balance/total
Derivative assets1		197 3 — — 200
Derivative liabilities1 (572) (4) (10) (146) (732)
Unrealised expense(P&L)2 (407)3 (11) (10) — (428)

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Interest rate hedging profile

Interest rate hedging	HY09	FY09	FY10	FY11	FY12	FY13	Avg FY14+5
A$m average hedged1	822	696	776	791	643	499	313
A$ hedge rate (ex margin)2	4.50%	4.70%	4.59%	4.93%	4.86%	5.13%	6.08%
A$ blended rate (inc margin)3	5.65%	5.47%	5.34%	6.41%	6.70%	6.88%	7.03%
US$m average hedged1	1,664	1,568	1,541	1,496	1,481	1,387	765
US$ hedge rate (ex margin)2	4.72%	4.82%	5.03%	5.08%	5.05%	5.07%	4.63%
US$ blended rate (inc margin)3	5.10%	5.18%	5.84%	6.46%	6.51%	6.51%	5.67%
€m average hedged1	185	180	180	178	168	145	52
€ hedge rate (ex margin)2	3.96%	4.03%	4.05%	4.00%	4.00%	4.02%	4.05%
€ blended rate (inc margin)3	4.65%	4.74%	5.39%	5.71%	5.97%	5.89%	5.96%
C$m average hedged1	70	70	70	70	70	70	62
C$ hedge rate (ex margin)2	4.77%	4.77%	4.77%	4.77%	4.77%	4.77%	4.43%
C$ blended rate (inc margin)3	4.93%	5.51%	6.10%	6.59%	6.74%	6.74%	6.74%
Total hedged (A$m)1, 4	3,682	3,409	3,449	3,394	3,204	2,879	1,595
Hedge rate (ex margin)2, 4	4.66%	4.71%	4.82%	4.92%	4.90%	4.97%	4.87%
Blended rate (inc margin)3, 4	5.25%	5.23%	5.65%	6.38%	6.53%	6.58%	6.62%

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Foreign income hedging profile

Foreign income hedging	HY09	FY09	FY10	FY11	FY12	FY13
Combined hedging profile	93%	90%	85%	87%	90%	90%
US$ hedging profile1	97%	96%	92%	93%	97%	98%
Foreign exchange contracts (US$m)	4.7	9.5	7.25	5.6	4.4	2.65
Average A$/US$ rate	0.6727	0.6844	0.6848	0.7084	0.7098	0.6657
NZ$ hedging profile2	86%	75%	39%	20%	0%	0%
Foreign exchange contracts (NZ$m)	3.8	7.5	4.0	2.0	0	0
Average A$/NZ$ rate	1.1278	1.1344	1.1767	1.1794	N/A	N/A
€ hedging profile 3	73%	65%	59%	64%	64%	63%
Foreign exchange contracts (€m)	0	0	0	0	0	0
Average A$/ € rate	n/a	n/a	n/a	n/a	n/a	n/a
CAD hedging profile4	79%	69%	60%	67%	49%	48%
Foreign exchange contracts (CAD)	0	0	0	0	0	0
Average A$/CAD rate	n/a	n/a	n/a	n/a	n/a	n/a

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Cross currency swap maturity profile

Cross currency swaps	FY09	FY10	FY11	FY12
US$ maturities (US$m)1	78	120	172	240
US$ average rate2	0.8990	0.7040	0.7721	0.8121
€ maturities (€m)	0	100	0	0
€ average rate2	n/a	0.5046	n/a	n/a
CAD maturities (C$m)	0	70	0	0
US$ average rate2	n/a	0.8677	n/a	n/a

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Portfolio composition (revenue and lease expiry)

Expiry year	% of global rent	FY09	FY10	FY11	FY12	FY13+
Australian office	47%	1%	4%	4%	4%	34%
Australian industrial	18%	1%	2%	3%	4%	9%
Retail	3%	1%	0%	1%	0%	1%
North America industrial	27%	2%	5%	4%	4%	12%
Europe industrial	5%	0%	1%	0%	1%	2%
Total	100%	5%	12%	12%	13%	58%

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Developments – completed

Property	Country	Area	Estimated	Estimated
		sqm	**final cost1 **	yield on cost
			($m)	(%)
Industrial
Sperian, Redwood Gardens, Dingley	Australia	3,400	3.9	7.5
San Antonio	USA	42,371	20.0	8.8
Office
60 Miller Street, North Sydney	Australia	4,532	25.2	8.3
Total completed			49.1

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Developments – underway

Property	Country	Area	Estimated	Estimated	Estimated	Estimated
		sqm	total	cost to	yield on	completion
			**cost1 **	completion	total cost	date
			(A$m)	(A$m)	(%)
1 Bligh Street, Sydney	Australia	29,323	210	150	7.0	Jun HY 2011
123 Albert Street, Brisbane	Australia	38,167	350	250	6.8	Dec HY 2010
Total underway		67,490	570	400

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Acquisitions and disposals

Property		Interest %	Acquisition amount	Notes
			A$m
Acquisitions — Australia
Greystanes, Western Sydney		100%	113	Staged acquisition with the remaining
				$57m to be paid Dec HY 09 as
				infrastructure is completed.
Total acquisitions			113
	Date	Interest %	Settlement amount	Notes
			A$m
Disposals — Australia
1 Bligh Street, Sydney	Feb 09	33%	60	Sold to Cbus. DWPF has
				also been granted an option
				acquire a 1.5% interest
Disposals — North America
Atlanta Industrial Drive, Atlanta, USA	Oct 08	100	7	Sold to Exeter Property Group
Total disposals			67

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Whirlpool - investment program update

� The program’s overall blended yield estimated to be 6.6%

Location	Estimated	Area	Acquisition and
	acquisition date	‘000	estimated
		sqm	cost ($m)
Acquired to date
Orlando, FL, USA	Jun 07	47	US$25.1
Toronto, ONT, Canada	Dec 07	70	C$71.4
Perris, CA, USA	Jan 08	157	US$128.6
			A$257.21
Pending acquisition
Columbus, OH, USA	Jun HY 09	145	US$69.6
Seattle, WA, USA	Dec HY 09	140	US$76.8
Atlanta, GA, USA	Dec HY 09	83	US$81.6
			A$329.12
Total		642	A$586.3

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Developments – uncommitted pipeline

Property	Country	Building	Project	Project	Projected yield
		area	estimate1,2	estimated to	on project
		sqm	(A$m)	completion1,2	estimate cost
				(A$m)	(%)
Office — Australia
105 Phillip Street, Parramatta	Australia	20,380	100	80	8
144 Wicks Road, North Ryde	Australia	48,000	180	150	7
Industrial — Australia
Greystanes, Western Sydney	Australia	169,125	300	190	8
3 Brookhollow Ave, Baulkham Hills	Australia	22,929	90	80	9
DEXUS Industrial Estate, Laverton North	Australia	324,305	340	270	9
Axxess Corporate Park, Mt Waverley	Australia	16,094	50	45	9
Industrial — North America
San Antonio	USA	44,491	30	25	9
Land parcels — Beaumeade, Garland & Plano	USA	—	—	—	—
Total pipeline		645,324	1,090	840

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Development activities will only commence if they are fully funded and meet the investment criteria

Australian major tenants by income

	% of Sector
Office	NPI1
1Woodside Energy Ltd	6.3%
2State of NSW	5.1%
3Commonwealth of Australia	4.6%
4State of Victoria	3.3%
5IBM Australia Limited	3.3%
6Lend Lease Corporation Limited	3.1%
7Dabserv Pty Limited (Mallesons)	2.8%
8The Herald & Weekly Times Limited	2.2%
9HBOS Australia Pty Ltd	2.1%
10PKF	1.6%

	% of Sector
Industrial	NPI2
1Coles Myer Limited	6.6%
2Elders Ltd	5.6%
3Visy Steel Products	3.8%
4IBM Global Services	3.1%
5Toll Transport Pty Ltd	2.5%
6Commonwealth of Australia	2.3%
7Fosters Group Limited	2.1%
8Alinta Limited	1.9%
9Controlled Climate Logistics	1.8%
10Panasonic Australia Ltd	1.8%

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Major tenants by location and income[1]

	% of Europe		% of North
Europe	NPI	North America	America NPI
1Edeka Südwest	19.7%	1Whirlpool Corporation	12.5%
2Industriereifenkontor Lüdke	9.9%	2AT&T Corporation	2.2%
3Karstadt Vermietungsges. mbH	7.8%	3US Government (TSA)	1.6%
4Compass	7.7%	4Savvis Communication Corporation	1.5%
5CAE	6.9%	5General Services Administration	1.5%
		6Skechers USA, Inc.	1.2%
		7Square D Company	1.2%
		8Graham Webb International	1.2%
		9Domtar Paper Company	1.1%
		10International Business Machine	1.0%

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Retail — Whitford City Shopping Centre, WA

Key statistics
Book value	$280m
Ownership interest	50%
Centre MAT ($psm)	7,516
Specialty MAT ($psm)	9,250
Total centre MAT growth ($psm)	6.2%
Total centre MAT growth ($pa)	6.5%
Total specialty MAT growth ($psm)	4.6%
Total specialty MAT growth ($pa)	3.6%
Specialty occupancy cost	13.7%
Net property income	$7.7m
Occupancy (area)	99.9%
Average lease duration (income)	4.2yrs

Australia/New Zealand office — lease expiry

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----- Start of picture text -----

As at 31 December 2008
25%
20%
15%
10%
5%
0%
Vacant < 1 Year < 2 Years < 3 Years < 4 Years < 5 Years < 6 Years < 7 Years < 8 Years < 9 Years < 10 Years
Area Income
21.3%
14.7%
13.5%
12.9%
12.3%
11.6%
10.9% 11.0%
10.2%
9.4% 9.4%
8.7% 8.9%
7.7% 7.9% 8.2%
6.8%
6.0%
2.0% 1.8% 2.3% 2.4%
----- End of picture text -----

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Australian industrial — lease expiry

As at 31 December 2008

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----- Start of picture text -----

20%
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
Vacant <1 Year <2 Years <3 Years <4 Years <5 Years <6 Years <7 Years <8 Years <9 Years <10 Years >10 Years
Area Income
18.6% 18.8%
16.0% 16.1%
15.1%
11.1%
10.5%
10.1% 9.8%
9.1% 9.3%
7.4%
6.5%
5.7% 6.1% 5.8%
3.2% 3.4% 4.2% 4.0% 3.7% 4.2%
% of portfolio available for lease 0.7% 0.6%
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North American industrial – lease expiry

As at 31 December 2008

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18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
Vacant <1 Year <2 Years <3 Years <4 Years <5 Years <6 Years <7 Years <8 Years <9 Years <10 Years >10 Years
Income Area
17.0%
15.8%
14.9%
13.8%
12.7%
12.0%
10.0% 10.3% 10.0% 10.5% 10.0%
9.2%
8.2%
6.5%
4.8% 4.6% 4.7%
3.5% 3.8% 3.2% 3.5% 4.0% 3.3% 3.6%
% of portfolio available for lease
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European industrial – lease expiry

Germany

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As at 31 December 2008
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
Vacant < 1 Year < 2 Years < 3 Years < 4 Years < 5 Years < 6 Years < 7 Years < 8 Years < 9 Years < 10 Years > 10 Years
France
35%
30%
25%
20%
15%
10%
5%
0%
Vacant < 1 Year < 2 Years < 3 Years < 4 Years < 5 Years < 6 Years < 7 Years < 8 Years < 9 Years < 10 Years > 10 Years
Area Income
Half Year Results presentation 2008 76
37.6% 38.4%
18.7% 17.9%
15.0%
13.2%
11.7% 12.0%
8.9%
7.2%
5.1%
3.7% 3.6% 3.2%
% of portfolio available for lease 1.7% 1.8% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
32.1%
29.8%
28.3%
26.6%
23.3%
22.1%
12.4% 11.6%
7.3% 6.4%
% of portfolio available for lease 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
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Important Information

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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