GOODMAN GROUP — Investor Presentation 2008

Oct 27, 2008

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NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, US PERSONS

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Disclaimer

This document has been prepared by Goodman Group (Goodman International Limited (ABN 69 000 123 071) and Goodman Funds Management Limited (ABN 48 067 796 641; AFSL Number 223621) as the Responsible Entity for Goodman Industrial Trust (ARSN 091 213 839) ( RE ).

Presentation of general background

This document is a presentation of general background information and about Goodman Group’s activities current at the date of the presentation, 28 October 2008. It is information in a summary form and does not purport to be complete. It should be read in conjunction with Goodman Group’s other periodic and continuous disclosure announcements including the Goodman International Limited Annual Financial Report lodged with the Australian Securities Exchange ( ASX ) on 22 August 2008 and announcements to the ASX available at www.asx.com.au.

Not investment advice

The information provided in this presentation is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs. These should be considered, with professional advice, when deciding if an investment is appropriate. Further, the RE advises that it is not licensed to provide financial product advice in relation to the stapled securities in Goodman Group. Cooling-off rights do not apply to an investment in any new stapled securities. The recipient cannot, in most circumstances, withdraw an application once it has been accepted.

Not an offer

This presentation is not an offer or invitation for subscription or purchase of securities or other financial products. This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to any “US person” (as defined in Regulation S under the US Securities Act of 1933, as amended ( Securities Act ) ( US Person )). Securities may not be offered or sold in the United States absent registration or an exemption from registration. The stapled securities of Goodman Group have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States. In addition, Goodman Group has not, and will not, be registered under the US Investment Company Act of 1940, as amended, in reliance on an exception provided by Section 3(c)(7) thereof.

Future performance

This presentation contains certain "forward-looking statements". The words "anticipate", "believe", "expect", "project", "forecast", "estimate", "likely", "intend", "should", "could", "may", "target", "plan" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Due care and attention have been used in the preparation of forecast information. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Goodman Group that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Recipients should also have regard to the risks set out in Section 3 of this document.

Financial data

All dollar values are in Australian dollars (A$) and financial data is presented with a financial year end of 30 June unless otherwise stated. The proforma historical financial information included in this presentation does not purport to be in compliance with Article 11 of Regulation S-X of the rules and regulations of the US Securities and Exchange Commission.

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Glossary

Term	Meaning	Meaning
ABPP	+	Arlington Business Parks Partnership
ASX	+	Australian Securities Exchange or ASX Limited or the financial market which it operates as the case requires
Cap rate	+	Capitalisation rate
Capex	+	Capital expenditure
Core+ funds	+	Where a fund has development capacity with predominately stabilised assets
Cornerstone investments	+	Goodman’s investments in its managed funds
cps	+	Cents per security
CY	+	Calendar year
DRP	+	Distribution Reinvestment Plan
EBIT	+	Earnings before interest and tax
EBITDA	+	Earnings before interest, tax, depreciation and amortisation
EPS	+	Operational earnings per security
FX	+	Foreign exchange
FY	+	Financial year
GAIF	+	Goodman Australia Industrial Fund
Gearing	+	Interest bearing liabilities less cash divided by assets less cash
GEBPF	+	Goodman European Business Parks Fund
GELF	+	Goodman European Logistics Fund
GMT	+	Goodman Property Trust
J-REP	+	J-REP Co., Ltd
JV	+	Joint venture
MGA	+	Macquarie Goodman Asia Limited
MGLF-HK	+	Macquarie Goodman Hong Kong Logistics Fund
RE	+	Goodman Funds Management Limited (ABN 48 067 796 641; AFSL Number 223621) as the Responsible Entity for Goodman Industrial Trust (ARSN 091 213 839)
UK	+	United Kingdom
US	+	United States

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Executive summary

• • Goodman Group ( Goodman or Group ) is undertaking a number of initiatives designed to both strengthen the Group's capital position as well as streamline the Group's Asian business

	+ Fully underwritten equity issue raising $755m (including Macquarie Bank Ltd (Macquarie) consideration as per below)
$1+ billion	+ DRP re-activated to raise circa $200m in FY091
capital management	+ $160m of completed asset sales post 30 June 2008 with additional $350m of sales expected pre 31 December 2008
initiatives	+ Set more rigorous hurdles for development starts on balance sheet and within funds given dislocation in real estate and
	capital markets
	+ Acquisition of Macquarie’s interest in the Asian JV (ex Japan) for $200m (HK$1,010m)
Asian JV	+ Macquarie has agreed to use up to 100% of proceeds to apply for Goodman securities (subject to scale back to
restructure	facilitate participation of existing investors)
	+ Allows Goodman to streamline its Asian platform and capture 100% of the opportunities in the Asian region (ex Japan)
	+ Proforma headline gearing of 35.0% post FX movements (v 39.9% at 30 June 2008) reducing to 32.6% post expected
Key Goodman	asset sales
metrics	+ Significant headroom under all debt facility covenants and $1.3bn of available liquidity (pre identified asset sales)
	+ FY09 EPS of 19.4cps assuming only known transactions, rental income and base fees received for the balance of FY09

1. Assumes historical takeup.

Note: unless otherwise stated, all numbers in this presentation are in A$ and are based on the exchange rate assumptions set out on slide 5.

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Contents

• Section 1

• • Section 2 + Section 3 + Appendix A

Capital management initiatives and Asian restructure Goodman Group update

Recap of investment case Goodman Group overview

Exchange rate assumptions:

AUD/NZD 1.1, AUD/HKD 5.1, AUD/GBP 0.41, AUD/EUR 0.53, AUD/USD 0.67, AUD/JPY 64.9.

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Section 1 – Capital management initiatives and Asian restructure

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Capital management initiatives

• • In light of significant volatility and dislocation in capital markets, Goodman is pursuing a range of initiatives to strengthen the Group’s balance sheet

Equity raising and DRP – $955m

• • Fully underwritten equity raising of circa $755m including Macquarie’s consideration for its Asian JV (ex Japan) interests
• • Goodman will re-activate its DRP from which it expects circa $200m (based on historical take up) for FY09

FY09 asset sale programme – $160m to $500m+

• • $160m completed since 30 June 2008

• Office Depot in UK sold to a private investor for $69m (£28.1m) representing a 2% discount to 30 June 2008 book value

• 50% of Goodman’s interests in two Hong Kong development projects for $91m (HK$465m) representing a premium to 30 June 2008 book value

• • Additional $350m of asset sales expected prior to 31 December 2008

• Range of transactions across regions generally within 10% of book value

• Two institutions in negotiations on a $351m UK logistics portfolio – one party has received purchaser investment committee approval

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Capital management initiatives

Fund co-investments

• • Continue to sell down fund cornerstone investments to target levels
• • A number of investors are currently in due diligence across a range of individual funds

Reduced allocation to development

• • Goodman is setting more rigorous hurdles for development starts given the current dislocation in real estate and credit markets

• Both on balance sheet and within managed fund platform

• • Relative to global industrial peers, Goodman’s prudent approach allows the Group to withstand current dislocation

• Development policy of targeting pre-commitments results in few non-income producing completed assets

• Majority of development land secured via drawdown arrangements/options (e.g. Brickworks) and hence balance sheet not heavy with development land

• • Short logistics development start lead times (circa six months) provides greater flexibility in managing capital deployment

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Asian platform restructure

• • Goodman is acquiring Macquarie’s interests in the Macquarie Goodman Asia ( MGA ) joint venture (ex Japan) for $200m (HK$1,010m)
• • Results in one streamlined pan Asian platform (ex Japan), which management views as highly strategic to long-term growth
• • Goodman to benefit by capturing 100% of the opportunity in the existing markets of Hong Kong and China as well as unidentified future opportunities throughout Asia (ex Japan)
• • Provides clarity for customers and investors, avoiding confusion with other Macquarie real estate businesses in Asia
• • Macquarie to maintain investment in, and support of, Japan platform (via investment in J-REP) for the medium-term to stabilise recent growth in the business

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Asian platform restructure

• • Total consideration to Macquarie of $200m (HK$1,010m) for its Hong Kong interests and Asian rights (ex Japan)
• • Macquarie has agreed to use up to 100% of its consideration to apply for Goodman securities via sub underwrite of the equity issue (will be scaled back to the extent securities are taken up by other investors)
• • Macquarie has agreed to escrow up to $70m of any Goodman securities received for six months
• • Major portion of consideration supported by recent MGLF-HK capital raising and acquisition valuation

Consideration breakdown

Component	Consideration	Methodology
Macquarie’s 25% interest in Interlink and Seaview development projects1	A$91m	Reflects acquisition price paid by MGLF-HK – approved by investment committee
Macquarie’s units in MGLF-HK (3.9% of total)	A$48m	Reflects MGLF-HK net asset value verified during recent capital raising
Management rights associated with MGLF-HK and rest of Asia (ex Japan)	A$61m	5x FY09 annualised EBITDA (of Hong Kong only)2
Total	A$200m

1. Represents residual Macquarie direct interest post sale of 50% of Interlink and Seaview jointly held by Macquarie and Goodman to MGLF-HK as announced on 17 October 2008.

2. 31 March 2009 year end.

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Section 2 – Goodman Group update

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Goodman capital position

• • Announced initiatives significantly enhance Goodman’s capital position

• Reduces proforma headline gearing from 39.9% to 30.9% (constant currency) and 35.0% post FX movements

• Identified future asset sales would reduce gearing to 32.6% (post FX movements)

• Available liquidity of $1.3 billion

• Interest cover ratio (on base case EBIT) – EBIT/interest expense of 4.1x. EBIT/cash interest paid of 3.1x

• • Post the initiatives, Goodman has significant headroom in its debt covenants

• Balance sheet gearing covenant can withstand large movements in cap rates and currency (refer slide 16)

• Interest cover ratio covenants well covered on rental income and base fee income

• No look through debt covenants, no market capitalisation based covenant and no net assets covenant

• Completion of intended asset sales, which are offshore denominated assets, will reduce volatility of gearing generated by currency movements

• Fund debt facilities are all non-recourse to the Group, no guarantees of fund debt

• All Goodman senior unsecured debt facilities are on substantially the same terms

• Covenants on a total asset basis – valuation policy based on long-term expected cash flows so limited impact from short-term fluctuations

• • Management believes it is prudent to maintain this level of gearing for the Group in the current operating environment

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Debt facility overview

• • Capital management initiatives strengthen Goodman’s ability to refinance upcoming expiries

• $1.3bn of available liquidity post initiatives (pre identified asset sales) enhances Goodman’s ability to meet commitments

• Goodman can repay CY08 and CY09 expiries from available liquidity if required

• In addition, management believes it prudent to apply a more conservative approach to capital deployment going forward until capital markets improve (e.g. reduced development capex, identified asset sales)

Goodman facilities

Facility	Currency	Maturity date	Local currency (m)
Syndicated Multi CurrencyFacility- F AUD Dec 08 A$100
Syndicated Multi CurrencyFacility- A AUD May09 A$460
Asian RevolvingCredit Facility SGD Dec 09 S$125
Syndicated Multi CurrencyFacility- B AUD May10 A$520
Syndicated Multi Currency Facility - C AUD May 11 A$520
Corporate RevolvingCredit Facility AUD Feb 12 A$600
Syndicated Multi CurrencyFacility- D AUD May12 A$400
European Revolving Credit Facility EUR Dec 12 €525
European Term Loan Facility GBP Apr 13 £160
Euro Medium Term Notes GBP Jul 18 £250
Euro Private Placement EUR Jun 23 €27
1 Other Facilities Various Various 294

1. A$ equivalent.

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Proforma statement of financial position

Balance sheet impact	30 Jun 08 ($m)	Adjustments ($m)	Proforma ($m)	Post FX ($m)
Cash	639	(577)	62
Investments	6,406	247	6,653
Intangibles	1,073	34	1,107
Other assets	1,515	(69)	1,446
Total assets	9,634	(366)	9,268	10,346
Debt	4,229	(1,325)	2,904
Other liabilities	735	-	735
Total liabilities	4,965	(1,325)	3,640	4,663
Net assets	4,669	959	5,628	5,684
NTA per security ($)	1.96	(0.42)	1.54	1.49
Gearing (%)	39.9	(9.0)	30.9	35.0

Note: Excludes identified asset sales and includes Hong Kong development sales (contracted).

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Gearing bridge

• • The chart below illustrates the impact on gearing of capital management initiatives and foreign exchange movement since 30 June 2008

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

1.1%
9.5%
39.9%
4.1% 35.0% 2.4%
32.6%
0.6% 30.9%
30 June 08 Capex Equity Completed Proforma FX impact Post FX Identified Post
raising, asset sales asset sales
DRP and
Asian
restructure
----- End of picture text -----

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Gearing analysis

• • Goodman’s gearing remains comfortably within covenant limits – no gearing covenant breach in any scenario represented in the table below

Gearing sensitivity to asset devaluations and A$ depreciation

			Asset revaluations1	Asset revaluations1	Asset revaluations1	Asset revaluations1	Asset revaluations1
		-%	(5.0%)	(10.0%)	(15.0%)	(20.0%)	(25.0%)
A$ depreciation1	5.0%	29.8%	31.2%	32.7%	34.3%	36.2%	38.2%
	-%	30.9%	32.3%	33.8%	35.5%	37.4%	39.5%
	(5.0%)	32.0%	33.4%	35.0%	36.8%	38.7%	40.9%
	(10.0%)	33.2%	34.7%	36.3%	38.1%	40.1%	42.3%
	(15.0%)	34.4%	35.9%	37.6%	39.5%	41.5%	43.8%
	(20.0%)	35.7%	37.3%	39.0%	40.9%	43.0%	45.4%
	(25.0%)	37.0%	38.7%	40.5%	42.4%	44.6%	47.0%

1. Movement relative to 30 June 2008.

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Goodman funds platform

• • Goodman is recognised as an industrial specialist throughout key Asia Pacific and European markets
• • Deep longstanding relationships with large pension funds, sovereign funds, fund of funds and other institutions

• Many invest across multiple fund vehicles and in the Group itself

• Goodman has raised $550m during CY08 highlighting the resilience of the platform given recent volatility

• Global trend of institutions reducing relationships and focusing allocations on key partners – Goodman is a beneficiary

• • Asia represents a key opportunity for Goodman

• Streamlining Asian platform via the transaction with Macquarie allows Goodman to capture 100% of Asian (ex Japan) opportunities

• Continued real estate investment allocation to Asia by European and North American investors

• Expect growth of logistics as an asset class as the region continues to develop

• Pan Asian platform allows institutional investors to participate in multiple countries with one global manager

• Goodman core+ funds provide investors access to development opportunities

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Goodman funds platform

+ Goodman fund vehicles in strong financial position

• Principles agreed with all ABPP investors (subject to final approvals) for a fund recapitalisation via contribution of circa $730m (circa £300m) of real estate in exchange for fund equity

• GEBPF has asset specific debt and higher gearing given development focus

• Balance of funds geared 30% to 40% comfortably within gearing covenants and low relative to peers

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

Asia Pacific Europe
Fund name GAIF GMT MGLF-HK GELF ABPP [1] GEBPF
Assets under management A$bn $5.0 $1.6 $2.0 $2.6 $4.5 $0.8
Cornerstone investment 44% 28% 24% [2] 23% 31% 15%
Average book value cap rate 7.2% 8.3% 6.7% 6.5% [3] 6.5% [3] 6.6% [3]
Gearing (post call of available
36.9% 29.1% [3] 24.8% 40.1% c49% 59.1%
equity and commitments)
----- End of picture text -----

1. Post identified fund recapitalisation programme.

2. Includes Macquarie’s portion being acquired as part of this transaction. 3. As at 30 June 2008.

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FY09 earnings

• • The Group is setting more rigorous hurdles for development starts on balance sheet and within funds given the current dislocation in real estate and credit markets
• • Assuming only known transactions, rental income and base management fees received for balance of FY09, Goodman’s EPS would be 19.4cps
• • Key assumptions

• Post equity raising and identified asset sales

• No performance fees

• Setting more rigorous hurdles for development starts on balance sheet and in funds for balance of FY09

• • Key driver of actual FY09 EPS will be development activity on balance sheet and in funds – all upside
• • Goodman intends to distribute 19.4cps for FY09

• Incremental earnings from development activities will be utilised to retire debt

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FY09 earnings

• • Base case operating assumptions result in circa $173m reduction in FY09 EBIT estimate

Earnings reconciliation

	Operating EBIT	EPS equivalent
	($m)	(cps)
Prior FY09 EBIT guidance	790	36.0
Net investment income	6
Reduction in management income (inc Performance Fee)	(10)
Reduction in development earnings	(121)
Reduction in development management fees activity	(66)
Pre capital raising	599	23.3
Post capital raising and MGA acquisition	613	19.4

Operating EBIT mix table	Original FY09 target	FY09 base case
Investment	45 – 55%	67 – 72%
Management	20 – 30%	20 – 25%
Development	15 – 25%	7 – 10%

• • Earnings upside exists to the extent that Goodman is able to conduct further developments during the balance of FY09

• An additional $450m of development would result in an incremental circa 1.0c to EPS (based on circa 70% “fee for service” and circa 30% on balance sheet allocation)

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Section 3 – Recap of investment case

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Recap of investment case

• Goodman is undertaking a number of initiatives designed to both strengthen the Group's capital position as well as streamline the Group's Asian business

	+ Fully underwritten equity issue raising $755m including Macquarie consideration for Asian JV interests (ex Japan)
$1+ billion	+ DRP re-activated to raise circa $200m in FY091
capital management	+ $160m of completed asset sales post 30 June 2008 with additional $350m of sales expected pre 31 December 2008
initiatives	+ Set more rigorous hurdles for development starts on balance sheet and within funds given dislocation in real estate and
	capital markets
	+ Acquisition of Macquarie’s interest in the Asian JV (ex Japan) for $200m (HK$1,010m)
Asian JV	+ Macquarie has agreed to use up to 100% of proceeds to apply for Goodman securities (subject to scale back to
restructure	facilitate participation of existing investors)
	+ Allows Goodman to streamline its Asian platform and capture 100% of the opportunities in the Asian region (ex Japan)
	+ Proforma headline gearing of 35.0% post FX movements (v 39.9% at 30 June 2008) moving to 32.6% post expected
Key Goodman	asset sales
metrics	+ Significant headroom under all debt facility covenants and $1.3bn of available liquidity (pre identified asset sales)
	+ FY09 EPS of 19.4cps assuming only known transactions, rental income and base fees received for the balance of FY09

1. Assumes historical takeup.

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Risks

• • This section discusses some of the key risks associated with an investment in Goodman. Before investing in Goodman, you should consider whether this investment is suitable for you. Potential investors should consider publicly available information on Goodman (such as that available on the websites of Goodman and ASX), carefully consider their personal circumstances and consult their stockbroker, solicitor, accountant or other professional adviser before making an investment decision.
• • Market price : The market price of Goodman securities will fluctuate due to various factors including general movements in interest rates, the Australian and international investment markets, international economic conditions, global geo-political events and hostilities, investor perceptions and other factors that may affect the Group’s financial performance and position.
• • Credit ratings: The price of Goodman securities and Goodman’s ability to access debt at a reasonable cost may be affected by a ratings downgrade.
• • FX movements: The Group has international operations and assets held outside Australia. The Group’s operating results will be affected by fluctuations in exchange rates.
• • Leverage: The use of leverage may enhance returns and increase the number of assets that can be acquired, but it may also substantially increase the risk of loss. Use of leverage may adversely affect the Group when economic factors such as rising interest rates, severe economic downturns or deterioration in the condition of the market occurs. In the event an investment is unable to generate sufficient cash flow to meet the principal and interest payments on its indebtedness, the value of the Group’s equity component could be significantly reduced or even eliminated.
• • Interest rates : Adverse fluctuations in interest rates, to the extent that they are not hedged or forecast, may impact the Group’s earnings (before interest) and asset values due to any impact on property markets in which the Group operates.
• • Taxation implications : You should be aware that future changes in Australian taxation law including changes in interpretation or application of the law by the courts or taxation authorities in Australia, may affect taxation treatment of an investment in Goodman securities, or the holding and disposal of those securities. Further, changes in tax law, or changes in the way tax law is expected to be interpreted, in the various jurisdictions in which the Group operates, may impact the future tax liabilities of the Group.
• • Realisation of assets : Property assets are by their nature illiquid investments. This may make it difficult to alter the balance of income sources in the Group in the shortterm in response to changes in economic or other conditions.
• • Capital markets: The real estate investment and development industry tends to be highly capital intensive. The ability of the Group to raise funds on favourable terms for future acquisitions, development activity, new and existing funds managed by the Group and refinancing depends on a number of factors including general economic, political and capital market conditions. The inability of the Group to raise funds on favourable terms for future acquisitions, developments and refinancing could adversely affect its ability to acquire or develop new properties or refinance its debt. In addition, the Group has exposure to capital market risks for those assets which are stock market listed securities. The Group’s operating results will be affected by changes to international stock markets, general economic conditions, the compilation of indices and government policies and regulatory policies applicable to those countries in which the Group holds stock market listed securities.
• • Cornerstone investments : The net asset value of Goodman’s cornerstone investments in its funds may decrease if the value of the property assets in those funds was to decline.

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Risks

• • Employees : The Group is reliant on retaining and attracting quality senior executives and other employees. The loss of the services of any of the Group’s senior management or key personnel, or the inability to attract new qualified personnel, could adversely affect the Group’s operations.
• • Customers : Insolvency or financial distress of Goodman’s customers may reduce the income received from its assets.
• • Insurance : Insurance markets may be detrimentally affected by the current global downturn such that insurance becomes more expensive or the financial ability of insurance companies to respond to claims is diminished.
• • Property market risks : The Group will be subject to the prevailing property market conditions in the countries and sectors in which it operates. Adverse changes in market sentiment or market conditions may impact the Group’s ability to acquire, manage or develop assets, as well as the value of the Group’s properties. These impacts could lead to a reduction in earnings or the carrying value of assets.
• • Change in value and income of properties : Returns from investment in properties largely depend on the rental generated from the property and the expenses incurred in its operation, including the management and maintenance of the property as well as the changes in the market value of the property. Rental income and/or the market value of properties may be adversely affected by a number of factors, including: (a) the overall conditions in the national and local economy; (b) local real estate conditions; (c) the perception of prospective customers regarding attractiveness and convenience of properties and the intensity of competition with other participants in the real estate industry; (d) the convenience and quality of properties; (e) unforeseen capital expenditure; (f) supply of developable land, new properties and other investment properties; and (g) investor demand/liquidity in investments.

Goodman’s policy is to consider external revaluations of stabilised properties on a six monthly cycle. No assets have been externally revalued since 30 June 2008. Managed funds have differing cycles and certain external revaluations may have been provided up to nine months ago. Under Goodman’s calculation of distributable income available for distribution, the effect of unrealised gains and losses from property revaluations is excluded.

• • Acquisitions : From time to time the Group will be involved in the acquisition of properties to add to its property portfolio. While it is the Group’s policy to conduct a thorough due diligence process in relation to any such acquisition, risks remain that are inherent in such acquisitions.
• • Development : The Group is involved in the development of industrial properties. Development risks include changes in construction costs and development timetables.
• • Regulatory issues and changes in law: The Group is subject to the usual business risk that there may be changes in laws that reduce income or increase costs.
• • Change in capitalisation rates : The capitalisation rates considered appropriate by independent valuers may change in response to market conditions.
• • Litigation and disputes : Legal and other disputes (including industrial disputes) may arise from time to time in the ordinary course of operations. Any such dispute may impact on earnings or affect the value of the Group’s assets.
• • Competition : Competition may lead to an oversupply through overdevelopment or to prices for existing properties or services being inflated via competing bids by prospective purchasers.

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Appendix A – Goodman Group overview

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Overview

Leading global industrial property group

• • One of the world’s largest specialised industrial property groups
• • Integrated property group that owns, develops and manages industrial property
• • Global capability built with local expertise

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Note: As at 30 June 2008. All amounts quoted in Australian dollars at 30 June 2008 FX rates. 1 Including core direct, warehoused and development work-in-progress.

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Overview

Global presence

• • Headquartered in Australia with 1,240 professionals in 39 cities across Asia Pacific and Europe
• • Platform allows Goodman to service international customers and provide investment opportunities to global investors

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Note: As at 30 June 2008. All amounts quoted in Australian dollars using 30 June 2008 FX rates.

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Overview

History

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Overview

Goodman Funds

• • Series of dedicated geographic funds investing in high quality real estate

Partnership approach

• • Generally funds have first rights to acquire assets
• • Increasingly providing exposure to development activities to generate enhanced returns
• • Dedicated fund managers and local support teams

Dedicated and experienced team

• • Leaders in region
• • Access to skills of broader Goodman Group

Best practice corporate governance

• • Best practice governance structures
• • Clear protocols to deal with related party transactions
• • Substantial cornerstone investments in funds – typically 20% to 40%

Strong alignment

• • Performance based management fees
• • Fund manager remuneration linked to fund performance

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Overview

Customer service offering

• • Central to the success of Goodman’s business is Goodman’s Customer Service Model which underpins the long-term commitment to over 1,300 customers in Australia, China, Europe, Hong Kong, Japan, New Zealand and the United Kingdom
• • Goodman’s business strategy encompasses

• Owning properties for the long term, providing ongoing relationships with customers and quality returns for investors

• Developing purpose-built projects across the Asia-Pacific region, Europe and the UK to meet the growing needs of our customers and investors

• Managing our customers’ operational needs and maintaining our assets at an exceptional standard in order to increase customer satisfaction, produce higher retention rates and secure returns for investors

• • Goodman’s business strategy complements its integrated customer service offering

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Overview

Investors

• • Goodman funds provide investment opportunities across six regions/economies

• Funds denominated in local currencies

• • Goodman takes a partnership approach to relationships with investors

• 49 global investors in two or more Goodman funds[1]

• • 44% (by value) of investors are international

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Note:

• 1 Includes holdings in Goodman Group.

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thank you+