GOODMAN GROUP — Investor Presentation 2010

Jul 11, 2010

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12 July 2010

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

Dear Sir

GOODMAN GROUP (GOODMAN) INVESTOR NEWSLETTER TO SECURITYHOLDERS

The attached Goodman investor newsletter was dispatched to Securityholders today.

Please contact the undersigned in relation to any queries.

Yours sincerely

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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

July 2010

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Welcome to the latest edition of our newsletter

Goodman Group has continued to make good progress since our last newsletter in March and I am pleased to update you on the announcements made and activities undertaken across the Group over the last three months.

The following pages will provide an overview of how we are building our significant strategic relationships through recently

number of interactive features, plus a photo gallery of our development progress. I encourage you to take a look on the GMG Investor centre at www.goodman.com.

announced transactions. We will also highlight the continued momentum we have been building across our operations and our focus on maintaining a strong financial position, through the recent refinancing of our Goodman Australia Industrial Fund’s debt facilities.

We have also produced an online version of investor Greg Goodman insight+, which contains a Group Chief Executive Officer

inside+

Expanding relationships 2 Development update 4 Leasing success 6 Capital management 7 Q&A 8 Upcoming key dates 8 Securityholder info 8

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Expanding relationships
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Developments
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Leasing
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expanding strategic relationships+

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feature
story
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Goodman has worked hard to expand its strategic relationships and achieve the initiatives referred to in the Group’s half year results announcement. Despite some ongoing weakness in global markets, we have recently completed three new transactions that demonstrate the strength of our business and ability to capitalise on growth opportunities. They position us well to deliver on our key objective of providing secure long-term capital sources to fund the Group’s development pipeline.

Goodman Australia Development Fund

In May we built on our existing relationship with Canada Pension Plan Investment Board (CPPIB) by setting up a new fund in Australia that will focus on acquiring high quality pre-committed developments from the Group. The fund is to be called the Goodman Australia Development Fund (GADF or Fund) and will be structured on an 80/20 basis with CPPIB holding the majority share.

Initial equity of A$250 million has been committed to GADF, which has a target gross asset value of around A$400 million. The first development to be acquired by the Fund will be the 76,000 sqm Kmart distribution centre, currently being developed in Melbourne, for a total consideration of A$66.3 million.

Significantly, CPPIB’s Senior Vice-President of Real Estate Investments, Mr Graeme Eadie commented that: “This investment provides an excellent opportunity for CPPIB to enter the Australian logistics market and to establish a strong portfolio of high quality warehouses that we expect will deliver stable income returns over the long term. We are pleased to continue building our partnership and look forward to future investments alongside Goodman.”

GADF is our second partnership opportunity with CPPIB and follows the announcement last August of a A$348 million joint venture to own and develop logistics assets in mainland China.

Top and opposite right: Greg Goodman and Fan Zengying, of the Langfang Bureau of Commerce, sign the Langfang MOU.

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Langfang Memorandum of Understanding

We also took an important step in the development of our Asian business during May with the signing of a Memorandum of Understanding (MOU) with the Langfang Municipal Government in China. This announcement was made possible through the strength of our cooperation with China Investment Corporation and points to the Group’s growing and long-term commitment to the China market.

The MOU will enable

Goodman to participate in the development of a leading business and logistics hub for the greater Beijing-Tianjin area in northern China.

We will use our worldwide expertise in business park development, master planning and property management to develop a five square kilometre parcel of land into an international standard, environmentally friendly mixed use business park. Specifically, a comprehensive and modern logistics and business hub will be developed over the next seven years that will be co-located with residential housing and associated amenities to create a sustainable community.

To maximise this opportunity, the Group will draw on its global partners to introduce international investors and banking groups to provide full scale financing support. This in turn gives us access to substantial development land in a capital efficient manner and allows us to promote the project and development in China to international investors.

We expect to generate fee income over the life of the project and will also consider making further investments on behalf of the Group and our investment partners in logistics and business park developments on the site on a case by case basis.

“Our focus remains on building strategic relationships with leading global investor groups”

CB Richard Ellis Realty Trust investment in UK and Europe

development assets from Goodman with a total value on completion of € 45.1 million (approx. A$64.9 million).

an outstanding opportunity to partner with a leading global logistics development organisation that is well established in both the UK and European markets. This relationship will enable us to further diversify our investment portfolio. The alignment of our strategies has been a key component that led to our partnership, and we look forward to building upon our mutual interests.”

Most recently, Goodman announced a A$1.3 billion relationship with CB Richard Ellis Realty Trust (CBRERT), which will see two new Co-Investment Vehicles (CIVs) established.

Goodman is well positioned to take advantage of market conditions across the UK and Europe, given lower competition and our well established blue chip customer base. Cementing this high profile relationship with CBRERT will enable the ongoing expansion of our logistics business in these markets by focusing on the acquisition of quality precommitted logistics development opportunities.

The CIVs will target a total investment of £400 million (approx. A$700 million) in the UK and € 400 million (approx. A$600 million) in the core Western European markets of Germany, France and Benelux over an initial investment term of three years. The UK CIV has been seeded with the acquisition of two assets from Goodman for a total consideration of £22.4 million (approx. A$39.0 million), while the European CIV includes the acquisition of three

The CIVs will help to secure the funding platform for our A$7 billion UK and European development pipeline, provide alternative capital to maintain our gearing at conservative levels and allow ongoing investment in core real estate.

With the announcement of the new relationship, Jack Cuneo, President and CEO of CB Richard Ellis Realty Trust commented that: “The Co-Investment Vehicles with Goodman provide us

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investor insight 3

positive momentum for global developments+

development update

demonstrate the positive market. All completions were momentum in our global pre-sold to Goodman managed development programme. funds or third parties.

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Artist’s impressions of the
LIDL facility in France.
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Munich Airport Logistics Centre – Germany Construction has commenced on a 21,000 sqm bespoke warehouse at Goodman’s Munich Airport Logistics Centre in Langenbach for leading transport and logistics provider DSV. Scheduled for completion at the end of July 2010, the Langenbach development marks DSV’s third lease agreement with Goodman in Europe. This project is one of the seed development assets sold to CBRERT.

Goodman has also secured the option to develop an additional 15,000 sqm of logistics warehouse space on a site adjacent to the Munich Airport Logistics Centre.

LIDL – France

In line with the demand for logistics space we continue to experience in France, Goodman has signed an agreement with discount supermarket chain, LIDL to develop a 39,392 sqm logistics facility at Chanteloup-lesVignes in the Western Paris region. The development of the new distribution centre will be pre-sold to LIDL France on a forward funding basis for a total consideration of € 28 million.

The new distribution centre will complement LIDL’s two existing logistics centres located near Paris and consists of 37,065 sqm of logistics warehouse space, with an additional 2,327 sqm of office space. The LIDL development is expected to be completed by July 2011.

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Üllö Airport Logistics Centre – Hungary

We have also confirmed a new pre-lease with Oriflame in Hungary, as part of the second phase of development for the Üllö Airport Logistics Centre situated in Üllö, south of Budapest. The leading Swedish manufacturer of high quality cosmetics has leased 16,000 sqm of warehouse space and an additional 1,000 sqm of office space. Construction began in February 2010, with an expected completion date in August 2010.

The Üllö site has significant future development potential which will be undertaken in phases. On final completion, the entire logistics centre will offer 155,000 sqm of high specification warehouse, office and amenity space.

The development is being jointly undertaken on a 50:50 basis with our Goodman European Logistics Fund.

Venlo – Netherlands

Goodman and medical technology company, Stryker have underlined their commitment to sustainability with the announcement that a new BREEAM-certified warehouse will be developed at Venlo in the Netherlands. The 7,875 sqm distribution centre, which has been designed to meet both environmental and economic sustainability criteria, will be one of the first buildings in the Netherlands to receive the internationally recognised BREEAM sustainability certification. Construction is scheduled for completion

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in November 2010. The project is a turnkey development for Stryker.

Interlink – Hong Kong

Yusen Air & Sea Services (Hong Kong) Limited have exercised their option to take up an additional ramp floor comprising of 136,292 sq ft at the HK$4 billion Interlink development in Hong Kong. The total pre-commitment now amounts to around half of the total gross lettable area.

On the construction front, we recently reached a major milestone with the completion of the piling works ahead of schedule and on budget. The above ground construction is planned to commence in September, which means the Interlink development will soon start to take shape.

Philip Pearce, Goodman’s Managing Director, Greater China said, “Located at the heart of Tsing Yi container port and built to Goodman’s environmental and construction standards, Interlink is designed to meet all the needs of modern logistics operators. We are delighted with the progress of the construction to date and look forward to completing this landmark warehouse and distribution development.”

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Stockyards Industrial Estate – Australia

Construction is progressing well on Toll IPEC’s 16,295 sqm facility at Stockyards Industrial Estate in Perth, with the structural steel, wall and roof sheeting completed and internal slabs well under way for stage one handover of the warehouse. The new Toll IPEC facility incorporates a number of environmentally sustainable design initiatives including an Aerobic Treatment Unit (ATU) used to irrigate the site’s landscaping and rainwater collection tanks for water re-use in the amenities.

The new state of the art facility will be Toll IPEC’s new Western Australia regional hub and is scheduled for completion in November 2010.

Top, left to right: Artists’ impressions of Munich Airport Logistics Centre – Germany, Üllö Airport Logistics Centre – Hungary, construction progress of Interlink – Hong Kong, and Stockyards Industrial Estate – Australia.

Left: Venlo – The Netherlands.

investor insight 5

leasing success in sydney+

leasing update

Goodman has experienced strong leasing activity across its Sydney property portfolio, with a total of 342,162 sqm in leasing transactions completed this year. We have achieved solid leasing results across all areas of the Sydney market which are testament to the quality of our property portfolio and the strength of our customer service offering.

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Our leasing success also extends to the South Sydney market where recent highlights include two large leasing agreements with Optus Administration Australia and Equinix Australia. Together they total over 30,000 sqm.

centre. The two leasing deals have a combined net annual rental of more than A$3.6 million.

Goodman’s Sydney North portfolio has enjoyed recent leasing success by securing transactions totalling 30,400 sqm.

Optus has renewed its 11,956 sqm warehouse and office space at St Peters Business Park on a ten year lease term. Equinix has signed a new 15 year lease agreement for 18,063 sqm at Bourke Road Distribution Centre, with the warehouse and office space to be used as a hi tech data

Recent highlights include a new lease with Bilfinger Berger at Binary Centre, North Ryde for 4,000 sqm and at Showground Business Park in Castle Hill, where Tarkett Australia have expanded their space requirements to a total of 5,730 sqm. The team is currently in negotiations with

capital management update+

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Above: Binary Centre, North Ryde. Above left: St Peters Business Park.

new and existing customers on

a number of significant leasing deals which are expected to be announced over the coming months.

Overall the Sydney portfolio has achieved an occupancy rate of 97.5% which is a pleasing result. In many instances we are seeing that customers prefer to remain in their existing space and our in-house property services teams continue to work closely with our customers to meet their ongoing space requirements.

Our commitment to maintaining a strong financial position will ensure an innovative and flexible approach in pursuing sources of capital. The Group and its managed funds’ strategy is focused on diversifying our debt platform and further lengthening maturity terms that are matched to our long-term assets.

been sourced from Challenger Life Company Limited to replace a facility maturing in September 2010. A further three year, A$94 million term facility has been provided by Commonwealth Bank for GAIF’s 50/50 joint venture with Brickworks Ltd, with GAIF’s proportionate share of this being A$47 million.

This latest capital management initiative follows the completion of the successful NZ$150 million Goodman+Bonds issue undertaken by Goodman Property Trust in New Zealand and shows the ongoing support of our debt partners.

Consistent with this approach, our Goodman Australia Industrial Fund (GAIF) has secured A$297 million in new debt facilities to refinance existing 2010 maturities.

Specifically, a new five year, A$250 million debt facility has

investor insight 7

securityholder information+

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Key dates for 2010
q & a
21 June 2010 Announcement of estimated distribution
24 June 2010 Ex-distribution date
30 June 2010 Record date for distribution
19 August 2010 Announcement of full year results
26 August 2010 Distribution payment/Annual tax statement
25 November 2010 Annual General Meeting Q. How much will the final
distribution be for the
Note: Future dates may be subject to change. 2010 financial year?
Goodman security price performance A. It is estimated that It is estimated that
(1 July 2009 – 30 June 2010) Goodman’s distribution
for the six months ended
0.80 6,000 30 June 2010 will be
$0.635
0.75 1.9 cents per security. The
0.70 5,500 amount of the distribution
0.65 5,000 will be confirmed on the
0.60 date the distribution is paid
0.55 4,500 to Securityholders. The
0.50 scheduled distribution
4,000
0.45 payment date is Thursday,
0.40 3,500 26 August 2010. The
0.35 $0.380 estimated distribution
0.30 3,000 assumes no material
changes to market
conditions. The distribution
is reviewed by the Board
GMG ASX/S&P 200 Index
Source: Bloomberg
1/07/ 09 29/07/09 26/08/09 23/09/09 21/10/0918/11/09 16/12/09 13/01/10 10/02/10 10/03/10 07/04/10 05/05/10 02/06/10
GMG security price ($) ASX/S&P 200 Index
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at the end of each financial period in light of operating performance and current market conditions.

• A. It is estimated that It is estimated that Goodman’s distribution for the six months ended 30 June 2010 will be 1.9 cents per security. The amount of the distribution will be confirmed on the date the distribution is paid to Securityholders. The scheduled distribution payment date is Thursday, 26 August 2010. The estimated distribution assumes no material changes to market conditions. The distribution is reviewed by the Board

• Q. When will I receive my 2010 annual tax statement?

• A. Goodman’s 2010 annual tax statements are scheduled to be sent to Securityholders on Thursday, 26 August 2010 together with the distribution for the six months ending 30 June 2010.

Offices

Goodman Group

Security registrar

Security registrar Securityholders can update the following information with Computershare Investor Computershare online at Services Pty Limited www.investorcentre.com: Level 5 115 Grenfell Street - change of address details; Adelaide SA 5000 - request to receive communication online; GPO Box 1903 - request to have payments made Adelaide SA 5001 directly to a bank account; T: 1300 723 040 - provision of tax file numbers; or - general queries about your (within Australia) +61 3 9415 4000 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.

Goodman Limited Registered office ABN 69 000 123 071 Level 10 60 Castlereagh Street Goodman Industrial Trust Sydney NSW 2000 ARSN 091 213 839 GPO Box 4703 Responsible Entity Sydney NSW 2001 Goodman Funds Management Limited T: 1300 791 100 ABN 48 067 796 641; (within Australia) AFSL Number 223621 +61 2 9230 7400 (outside Australia) F: +61 2 9230 7444 E: info-au@goodman.com www.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. July 2010

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