GOODMAN GROUP — Investor Presentation 2010

Dec 16, 2010

==> picture [91 x 91] intentionally omitted <==

17 December 2010

The Manager Company Notices Section ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir

GOODMAN GROUP (GOODMAN) DISPATCH OF INVESTOR NEWSLETTER TO SECURITYHOLDERS

The attached Goodman investor newsletter was dispatched to Securityholders today.

Please contact the undersigned in relation to any queries.

Yours faithfully

==> picture [118 x 72] intentionally omitted <==

Carl Bicego

Company Secretary

Level 10, 60 Castlereagh Street Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia Tel +61 2 9230 7400 | Fax +61 2 9230 7444 | info-au@goodman.com | www.goodman.com Goodman Limited ABN 69 000 123 071 Goodman Funds Management Limited ABN 48 067 796 641 AFSL Number 223621 as responsible entity for Goodman Industrial Trust ARSN 091 213 839

investor

December 2010

==> picture [32 x 32] intentionally omitted <==

==> picture [80 x 72] intentionally omitted <==

Welcome to the final edition of our newsletter for 2010

Goodman Group has made a busy start to the 2011 financial year. In this latest edition of our investor insight+ newsletter I am pleased to update you on the range of initiatives we have undertaken and announcements made over recent months.

This edition features an overview of our operational activity for the quarter ended 30 September, which highlights the momentum that continues to build across our business, and provides a closer look at the development

and leasing activity that has been taking place, as well as recent capital management initiatives.

Our online version of investor insight+ has a number of interactive features including a 2010 highlights video which was produced for the Group’s recently held Annual General Meeting.

Please visit the GMG Investor Centre at www.goodman.com if you would like to view the online version.

Thank you for your support in 2010 and I wish you and your family a merry Christmas and a happy 2011.

==> picture [119 x 46] intentionally omitted <==

Greg Goodman Group Chief Executive Officer

inside+

Operational update 2 Capital management initiatives 3 Development update 4 Leasing update 6 Securityholder info 8

==> picture [80 x 54] intentionally omitted <==

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

02
----- End of picture text -----

==> picture [121 x 44] intentionally omitted <==

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

Operational update
----- End of picture text -----

04 06 Developments

==> picture [31 x 9] intentionally omitted <==

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

Leasing
----- End of picture text -----

operating momentum continues to build+

==> picture [105 x 104] intentionally omitted <==

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

feature
story
----- End of picture text -----

San Fernando Business Park, Madrid, Spain.

Goodman’s Annual General Meeting was held on 30 November and aside from the formal business of the meeting, it provided an opportunity to wrap up the 2010 financial year and give Securityholders an overview of the range of initiatives undertaken over the last 12 months.

The meeting also enabled us to provide an update on how Goodman’s business activities are progressing in the current financial year. Pleasingly, the operating momentum that had been building during the 2010 financial year has continued into 2011.

We have sustained our leasing activity, with over 400,000 sqm of industrial and business space leased around the world to 30 September. This leasing

success has provided rental growth of 3.2% and contributed net annual rent of $38.7 million across the Group and our Managed Funds. It has also ensured that our occupancy rate has been maintained at a high 93% with a weighted average lease expiry of 5.3 years. The map on page 7 highlights the leasing activity undertaken in the September quarter by region.

“Our commitment to customers and our flexible approach to meeting their needs are two of the drivers of our strong operational performance.”

2

initiatives+

==> picture [14 x 174] intentionally omitted <==

investor insight 3

capturing development opportunities+

development update We are pleased to provide Securityholders with details of eight of the new developments announced since 30 June 2010 across our Asia Pacific and European businesses. These projects demonstrate the quality of our customer relationships and have enabled us to capitalise on opportunities in line with their changing business needs.

Artist’s impression: Coca-Cola Amatil, Perth.

4

==> picture [122 x 118] intentionally omitted <==

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

Artist’s impression:
Metcash, Sydney.
----- End of picture text -----

Metcash – Sydney

An 82,015 sqm pre-committed distribution centre is to be developed for Metcash at Bungarribee Industrial Estate in Western Sydney, with agreement for a 15 year lease with options. The purpose built facility is one of the largest industrial developments announced in Australia this year and will also provide Metcash with the capacity for 22,000 sqm of future warehouse and office expansion space.

The project has a completion value of $129 million and will enable Metcash to consolidate local operations and centralise its NSW distribution activities when the facility is progressively delivered between October 2011 and May 2012.

DHL – Sydney

In Western Sydney, a further two pre-committed developments are being undertaken for DHL for a combined 36,215 sqm at Oakdale Industrial Estate. Construction of the first facility, a 10,390 sqm transport hub has commenced and is scheduled to complete in July 2011, with an expected completion value of $18.3 million.

The second facility consists of a 25,825 sqm of warehouse and office space with an expected completion value of $34.6 million and a completion date of September 2011.

Artist’s impression: DHL, Sydney.

Coca-Cola Amatil – Perth Coca-Cola Amatil (CCA) has pre-committed to a new 41,378 sqm distribution centre at Stockyards Industrial Estate in Perth, on an initial 15 year lease term. The development will be one of the largest industrial facilities in the Perth area and has an end value of approximately $60 million. The CCA facility is Goodman’s third pre-commitment at Stockyards, with developments already undertaken for MTU Detroit Diesel and Toll IPEC. On completion in September 2011, CCA’s facility will accommodate its warehouse and distribution operations for Western Australia.

Kunshan – China

In response to the strong demand for logistics space in China, we commenced construction of the Kunshan Logistics Park in early September. Located in Jiangsu (50 km from Shanghai), the development will provide 36,415 sqm of new logistics space.

The development is scheduled for completion in the second quarter of 2011 and is currently receiving strong leasing enquiry from multinational and local third party logistics companies.

Nissin, Poland.

Artist’s impression: Kunshan, China.

Bridgestone – New Zealand

Further development progress has been made at Goodman Property Trust’s M20 Business Park in South Auckland, with Bridgestone committing to a purpose built 4,900 sqm distribution centre. Bridgestone has signed an eight year lease and also has expansion rights over adjoining land.

This latest development at M20 Business Park follows the previously announced 13,400 sqm warehouse and office facility being constructed for Kmart. The Bridgestone distribution centre is scheduled for completion in July 2011 with an expected end value of $5.2 million.

Seifert – Germany

A 46,032 sqm warehouse is being built for Seifert Logistik, a leading freight forwarding and third party logistics provider, enabling it to fulfil an automotive industry contract. Seifert has pre-committed to an initial seven year lease.

The facility is being developed at Malsch near Karlsruhe and is expected to be completed in May 2011.

==> picture [121 x 118] intentionally omitted <==

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

Bridgestone, New Zealand.
----- End of picture text -----

Artist’s impression: Seifert, Germany.

Nissin – Poland

Goodman has commenced construction of a 10,392 sqm warehouse at Lysomice in Poland, in response to the continuing business expansion of leading Japanese transport and logistics company, Nissin. The new development will adjoin the 15,670 sqm warehouse that the company currently leases from Goodman and is scheduled for completion in February 2011. A seven year lease has been agreed with Nissin over the new expansion space.

NextPharma – Germany

Also in Germany, a 16,931 sqm logistics centre is being developed for pharmaceutical services provider, NextPharma Technologies near Düsseldorf. The development is expected to be handed over to Next Pharma in April 2011.

The new facility will include state of the art safety and security systems, and a sophisticated temperature monitoring system that provides variable temperature zones to ensure that the storage of pharmaceutical products complies with stringent international guidelines.

Artist’s impression: NextPharma, Germany.

investor insight 5

strong leasing activity in Hong Kong…

leasing update

“The Hong Kong economy continued to improve during the September quarter and this has translated into a steady inflow of new customers. We have seen a trend of multinational operators, mainly third-party logistics providers, committing to new space in line with the renewed confidence and positive outlook for the industrial property market.”

– Philip Pearce, Managing Director Greater China

During the September

Completed leasing transactions

6

…and in our other markets+

==> picture [253 x 177] intentionally omitted <==

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

Chifley Business Park, Melbourne.
----- End of picture text -----

Viladecans Office Park, Barcelona, Spain.

In the UK, 2,300 sqm of new leases were negotiated with customers by our Business Parks team, including a 10 year lease for Broadcom at Bracknell. Our two Spanish Business Parks in Madrid and Barcelona secured a combined 3,695 sqm of leasing transactions, including a new five year lease for Continental Tires in Madrid.

Goodman also achieved solid leasing activity in its Australasian and European operations, with a combined total of over 300,000 sqm leased during the quarter to 30 September.

In Germany, logistics provider, BLG renewed 61,025 sqm on a three year term.

A number of renewals were also agreed with ASA Logistics renewing 12,865 sqm at Boundary Distribution Centre for 10 years, and Commonwealth Bank of Australia for 8,068 sqm on a five year term at Lidcombe Business Park.

In Australia, we finalised more than 40 leasing transactions for customers across a range of industry sectors. New leases included 12,235 sqm for Coca-Cola Amatil on a five year term at Chifley Business Park, and 9,712 sqm for CEVA Freight Australia at Acacia Link Industrial Estate, with a three year lease term.

We renewed more than 18,000 sqm at Penrose Industrial Estate in New Zealand for Turners Auctions.

At Waddinxveen in The Netherlands, a new 7,255 sqm lease on a 10 year term was agreed with Royal Mail, and a new 4,595 sqm lease was also finalised with Kuehne + Nagel.

Goodman’s Property Services teams were also busy in Europe, with extensive leasing activity in the UK and right across Europe.

==> picture [104 x 104] intentionally omitted <==

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

September
quarter
leasing
stats
----- End of picture text -----

==> picture [312 x 163] intentionally omitted <==

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

UK/Europe
Leasing area: 117,744 sqm
Net annual rent: $7.3 m
China/Hong Kong
Leasing area: 105,508 sqm
Net annual rent: $9.7 m
----- End of picture text -----

==> picture [112 x 38] intentionally omitted <==

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

Total leasing activity
Group and Managed Funds
Leasing area: 410,661 sqm
Net annual rent: $38.7 m
----- End of picture text -----

==> picture [488 x 122] intentionally omitted <==

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

Leasing area: 410,661 sqm
Net annual rent: $38.7 m
New Zealand
Australia Leasing area: 34,212 sqm
Leasing area: 153,197 sqm Net annual rent: $4.5 m
Net annual rent: $17.2 m
As at 30 September 2010 (Australian currency).
----- End of picture text -----

investor insight 7

securityholder information+

agm voting results

2010 Annual General Meetings poll results

==> picture [379 x 150] intentionally omitted <==

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

Resolution 1: Election of a Director – Mr Phillip Pryke Number of votes Total %
Votes cast for the resolution 4,517,656,571 99.76
Votes cast against the resolution 10,783,204 0.24
Resolution 2: Adoption of the Remuneration Report Number of votes Total %
Votes cast for the resolution 4,494,303,004 99.32
Votes cast against the resolution 30,789,003 0.68
Resolution 3: Approval of issue of Stapled Securities as Number of votes Total %
a distribution on the Exchangeable Hybrid Securities
Votes cast for the resolution 4,507,008,623 99.75
Votes cast against the resolution 11,450,383 0.25
----- End of picture text -----

Upcoming key dates

20 December 2010 Announcement of estimated half year distribution 23 December 2010 Ex-distribution date 31 December 2010 Record date for half year distribution 24 February 2011 Announcement of half year results 28 February 2011 Expected half year distribution payment date

Note: Future dates may be subject to change.

Goodman Group

Goodman Limited ABN 69 000 123 071

Goodman Industrial Trust ARSN 091 213 839

Responsible Entity Goodman Funds Management Limited ABN 48 067 796 641; AFSL Number 223621

Offices

Registered office

Level 10 60 Castlereagh Street Sydney NSW 2000

GPO Box 4703 Sydney NSW 2001

T: 1300 791 100 (within Australia) +61 2 9230 7400 (outside Australia) F: +61 2 9230 7444 E: info-au@goodman.com www .goodman.com

Security registrar

Securityholders can update the following information with Computershare online at www.investorcentre.com:

Computershare Investor Services Pty Limited Level 5 115 Grenfell Street Adelaide SA 5000

• change of address details; - request to receive communication online; - request to have payments made directly to a bank account; - provision of tax file numbers; or - general queries about your securityholding.

GPO Box 1903 Adelaide SA 5001

T: 1300 723 040 - general queries about your (within Australia) +61 3 9415 4043 securityholding. (outside Australia) If you would like to provide any F: +61 8 8236 2305 feedback on the investor insight+ E: web.queries@ newsletter, please email us at computershare.com.au info-au @goodman.com. www .computershare.com

This investor insight+ has been printed on Monza Satin. It contains 45% virgin fibre and 55% recycled fibre. It is manufactured by an ISO 14001 certified mill. Monza Satin is an FSC Mixed Sources Certified paper.

This document has been prepared by Goodman Group (Goodman 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)). It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with professional advice, when deciding if an investment is appropriate. This document is not an offer or invitation for subscription or purchase of securities or other financial products. This document 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 or to US Persons unless they are registered under the US Securities Act of 1933 or an exemption from registration is available. 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 jurisdiction of the United States. This document 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. These 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. All values are expressed in Australian currency unless otherwise stated. Images contained in this document have been used to enable the visualisation of development concepts only and are not intended to definitively represent the final product. December 2010

8