GOODMAN GROUP — Investor Presentation 2011

Dec 8, 2011

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9 December 2011

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

Attached is the Goodman investor newsletter to be dispatched to Securityholders today and available on the Goodman website at www.goodman.com.

Please contact the undersigned in relation to any queries.

Yours sincerely

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Carl Bicego Company Secretary

Level 17, 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

December 2011

investor

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Welcome to the fnal edition of our investor newsletter for 2011

Goodman Group has started the 2012 financial year strongly, building on the significant operating momentum across our business. I am pleased to present this latest edition of our investor insight+ newsletter, in which we update you on the range of initiatives we have undertaken over recent months.

In this edition, we wrap-up Goodman’s recently held Annual General Meeting (AGM) and provide an overview of our

operational activity for the quarter ended 30 September 2011. We also take a look at the substantial development activity currently underway in our markets around the world and update you on the capital management initiatives undertaken within our managed funds.

I also encourage you to view the online version of investor insight+ , which contains a number of interactive features including a 2011 highlights

video shown at our recently held AGM. Please visit the ‘Reports and newsletters’ page in the GMG Investor Centre on www.goodman.com if you would like to view the online version.

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Greg Goodman Group Chief Executive Officer

inside+

Feature story 2 Development update 4 Capital management initiatives 7 Securityholder info 8

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02
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Feature story
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Developments
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Securityholder information
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solid operating activity+ japan rebranding

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feature
story
Greg Goodman at the Goodman Japan launch
Good Beginnings – one of the not-for-profit organisations supported by the
Goodman Foundation
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Goodman’s AGM was held in Sydney on 24 November, covering the formal business of the meeting as well as reviewing the Group’s results and achievements in the 2011 financial year, and its strategic focus and outlook for the year ahead.

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Securityholders were updated on Goodman’s business activities in the current financial year, which has resulted in a solid operating performance being delivered in the first quarter.

Leasing results to 30 September were robust, with over 390,000 sqm of industrial and business space leased in all of our markets. This leasing success has contributed net annual rent of $42.9 million across the Group and managed funds. It ensured our occupancy levels and customer retention rates were maintained at a high 96% and 74% respectively, with an overall weighted average lease term of 5.0 years being achieved. The map on the opposite page highlights the leasing activity undertaken on

a regional basis during the first quarter.

In our development business, we continued to experience significant customer demand across all of our markets, with the third party logistics, retail, e-commerce and automotive sectors being the key drivers of growth in our current development work book. This has seen the value of the projects we have underway increase to over $2 billion during the quarter across 47 projects, on behalf of 44 customers in 13 countries around the world.

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New development commitments valued at $350 million were secured in the September quarter. In line with our prudent development approach, 89% of these new projects were precommitted and 88% pre-sold, including developments offered to our managed funds. On pages 4 to 7 of this newsletter, we provide an overview of some of these new development projects.

The Chairman also provided an overview of the progress Goodman has made on its sustainability activities, including our community support through the Goodman Foundation.

Japan rebranding

In late September, Goodman successfully rebranded its operating platform in Japan, from J-REP Co. Ltd. (J-REP) to Goodman Japan Limited, following approval by J-REP shareholders at an

Europe Leasing area: 103,353 sqm Net annual rent: A$9.2m

Extraordinary Meeting held in Tokyo. Goodman subsequently hosted launch events for customers and staff to mark this important occasion which underscores our broader commitment and growth strategy within the Asian region.

The rebranding provides us with the opportunity to grow our business in the Japanese logistics market given the demand for modern and flexible logistics space, and will enable us to participate in opportunities to add technology, increase efficiency and expand the use of international best practice. Integrating J-REP into the Goodman business will also enable us to use our financial resources and global expertise to serve a wider range of customers looking to expand their business in and outside of Japan.

Asia

Leasing area: 55,718 sqm Net annual rent: A$6.1m

leasing statistics

Australia

Total leasing activity Group and Managed Funds Leasing area: 390,192 sqm Net annual rent: A$42.9m

Leasing area: 203,753 sqm Net annual rent: A$24.8m

New Zealand Leasing area: 27,368 sqm Net annual rent: A$2.8m

As at 30 September 2011 (Australian currency).

investor insight 3

strong demand driving development opportunities+

new projects

In the 2012 financial year to date, Goodman has secured new development commitments totalling 350,000 sqm, reflecting our strong customer relationships and demand for prime quality logistics space across all of our regions. We outline a number of these new developments and also provide some images of the topping out ceremony held in Hong Kong on 2 September for the 24 storey Interlink development.

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Interlink topping out ceremony, Hong Kong

Panasonic, New Zealand

developed for Schneider Electric at Ferntree Business Park in Melbourne, who have committed to an initial 10 year lease term with options. The new development will also incorporate 1,839 sqm of speculative office space, a roof top deck and a café to service the business park. The project has an estimated completion value of $36 million.

Interlink topping out, Hong Kong

In late August, the 24 storey superstructure was completed for the Interlink development in Hong Kong. This significant milestone was marked with a topping out ceremony on 2 September, which was attended by the Deputy Australian Consul General, James Nachipo, customers, investors and a number of Goodman staff, including Group CEO, Greg Goodman.

Schneider is a leading energy management specialist and has a strong sustainability focus. It has partnered with Goodman to deliver a building that will be among the most sustainable commercial office buildings in the Melbourne suburban commercial market. The development will

Schneider Electric, Melbourne

In Australia, a new precommitted 7,834 sqm commercial office will be

Schneider Electric, Melbourne

Osaka Bay, Japan

incorporate a range of sustainable features, including high performance double glazing, recycled materials, extensive sun shading, rainwater harvesting, a chilled beam air conditioning system and energy efficient lighting with daylight harvesting.

Panasonic, New Zealand

Electronics manufacturer and distributor, Panasonic has committed to a new 7,500 sqm purpose built office and warehouse facility at Highbrook Business Park in Auckland on an initial 10 year lease with rights of renewal and further expansion options. The facility will become Panasonic’s new national head office and distribution centre.

The development will comprise 2,200 sqm of office space and 5,300 sqm of warehouse space and is expected to complete in February 2013 for an estimated total cost of NZ$12.8 million.

Osaka Bay, Japan

In August, Goodman acquired a 60,000 sqm prime development site in the Osaka Bay area of Japan, which is suitable for the construction of a 130,000 sqm modern, multi-tenant logistics and distribution centre with ramped access to all floors.

Construction of the new facility is forecast to commence in 2012 and the estimated completion value for the project is in excess of $300 million.

investor insight 5

strong demand driving development opportunities+ (cont.)

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DB Schenker, China
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Tupperware, Germany
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accommodate the significant growth in Zalando’s business and facilitate the efficient distribution of its products throughout Germany and Europe.

May 2012 in time for the company’s 50th anniversary.

Volkswagen, Germany

DB Schenker, China

A new 45,000 sqm precommitted production facility will be developed for Volkswagen in Hanover, Germany to provide just in time supply for the production of one of the car manufacturer’s commercial vehicles. The new development will incorporate a loading tunnel, to facilitate lower emissions associated with truck movements.

In September, a 120,000 sqm land site with associated development opportunities was secured in Kunshan, in the greater Shanghai region of China. The site is located at Jinxi Eco-Industrial Park and will be developed in two phases. It will provide a total of 74,000 sqm of prime logistics space and have an expected completion value in excess of $31 million.

In response to the strong distribution of its products demand for logistics in the throughout Germany and Rhine-Main region and the Europe. site’s stratregic location, Goodman will develop a further The development will comprise 8,000 sqm facility which would a 71,000 sqm warehouse and be suitable for a range of 7,000 sqm of associated office customers including logistics space. It will incorporate 46 providers, retailers or loading docks, with expansion manufacturers. space available for additional docks to cater for future Zalando, Germany demand. The expected completion date for the A 78,000 sqm logistics centre development is August 2012.

Construction commenced in early September and the development will be progressively delivered from January 2012.

A 78,000 sqm logistics centre is being developed for online e-commerce provider, Zalando in Erfurt, Germany and has been pre-leased on a seven year term. The new facility will

The first phase of development will consist of a pre-committed 47,000 sqm facility which will be developed on behalf of leading global logistics service provider, DB Schenker. The purpose built facility is expected to be completed in August 2012.

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Zalando, Germany
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Tupperware, Germany

Goodman will develop a 17,900 sqm logistics centre in Eppertshausen in the RhineMain area of Germany with an expected completion value of € 10 million. Tupperware, a leading manufacturer and distributor of home products, has pre-committed to 9,900 sqm at the new facility in response to the company’s growth and need for greater efficiencies across its operations. The completed facility is expected to be delivered to Tupperware in

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Stanley Black & Decker, Belgium

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Metsä Tissue, Poland
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Stanley Black & Decker, Belgium

Goodman will develop a 64,462 sqm distribution centre for Stanley Black & Decker at Tessenderlo, Belgium. The new facility will consist of 61,486 sqm of warehouse space, 2,398 sqm of office space and 578 sqm of technical rooms. Construction commenced in November and the facility will be delivered in two phases, with half of the warehouse and the entire office space in April 2012, and the remainder in November 2012.

capital management initiatives+

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The new facility will become the distribution centre for a wide variety of construction and do-it-yourself products including Stanley hand tools and storage products, Black & Decker and DeWalt power tools and Bostitch products. The distribution centre will serve customers in Benelux, France, Germany, Austria, Switzerland and Scandinavia.

Metsä Tissue, Poland

In Poland, Metsä Tissue, a leading European supplier of tissue and cooking paper, has

During November, Goodman European Logistics Fund (GELF) and Goodman Australia Industrial Fund (GAIF) separately announced major capital management initiatives.

GELF launched € 1.2 billion of equity and debt initiatives, comprising a € 400 million rights issue and an € 800 million debt package. The initiatives not only strengthen the Fund’s financial position and ensure its gearing level is maintained below 40%, but also provides around € 500 million of investment capability.

The rights issue has been predominantly underwritten by Dutch pension funds, APG ( € 150 million) and PGGM ( € 50 million), with Goodman also

pre-committed to a new 26,200 sqm state of the art production and warehousing facility, to be developed next to the company’s existing mill at Krapkowice.

The development will enable Metsä Tissue to relocate from multiple existing warehouses, significantly improving its operational efficiencies. Construction of the new facility commenced in September and is expected to be completed in March 2012.

underwriting € 145 million. Significantly, the rights issue secures funding for GELF’s growth and enables it to participate in other strategic opportunities.

The debt package secured by GELF consists of € 400 million of secured facilities and a € 400 million unsecured facility. The unsecured facility has been structured to allow GELF to transition to the debt capital markets in the future to diversify its long-term debt funding sources.

GAIF is already active in the debt capital markets, having moved to an unsecured debt structure in December 2010, and has a ‘BBB’ corporate credit rating with a stable

Case Tech, Poland

A leading producer of plastic casings for the food industry, Case Tech has pre-leased an 8,208 sqm facility in Legnica, Poland on a 10 year term. The new facility comprises 5,482 sqm of production space, 1,765 sqm of warehouse space and 961 sqm of external office space.

The development, which is expected to be completed in February 2012, will enable Case Tech to increase its production capacity and diversify into new products.

outlook from Standard & Poor’s. GAIF issued its inaugural A$175 million medium term note in May 2011 and in early November, GAIF further diversified its debt funding sources by successfully pricing a US$300 million US private placement to institutional investors, in two tranches with 10 and 12 year terms respectively. The proceeds will be used to refinance GAIF’s existing debt facilities and extends its average debt maturity from 3.9 to 4.8 years.

investor insight 7

securityholder information+

GM voting results esolution Number of votes Total % Re-election of a Director Mr John Harkness otes cast FOR the resolution 5,858,852,479 99.83 otes cast AGAINST the resolution 10,141,043 0.17 Re-election of a Director Ms Anne Keating otes cast FOR the resolution 5,605,211,663 95.51 otes cast AGAINST the resolution 263,801,462 4.49 Adoption of the Remuneration eport otes cast FOR the resolution 5,194,866,443 92.86 otes cast AGAINST the resolution 399,616,526 7.14 Issue of Performance Rights nder the Long Term Incentive an to Mr GregoryGoodman otes cast FOR the resolution 5,084,883,512 90.34 otes cast AGAINST the resolution 543,921,280 9.66 Approval of issue of Stapled ecurities as a distribution on the xchangeable Hybrid Securities otes cast FOR the resolution 4,757,020,383 93.99 otes cast AGAINST the resolution 304,083,763 6.01		Upcoming key dates key dates
		19 December 2011 Announcement of estimated half year distribution
		22 December 2011 Ex-distribution date
		30 December 2011 Record date for the half year distribution
		16 February 2012 Announcement of half year results
		28 February 2012 Expected half year distribution payment date
		Note: Future dates may be subject to change.

Offices

Goodman Group

Goodman Limited Registered office ABN 69 000 123 071 Level 17 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

Security registrar

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

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 4043 securityholding. (outside Australia) If you would like to provide any F: +61 8 8236 2305 feedback on the investor insight+ E: www.investorcentre.com/ newsletter, please email us at contact info-au @goodman.com.

www .computershare.com

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This investor insight+ has been printed on Monza Satin. It contains 45% virgin fibre and 55% recycled fibre. XXXXXXX 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 2011

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