GOODMAN GROUP — Investor Presentation 2014

Dec 15, 2014

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16 December 2014

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

Dear Sir / Madam,

GOODMAN GROUP (GOODMAN) – Dispatch of investor newsletter to Securityholders

Attached is the Goodman investor newsletter 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

Goodman Group

Goodman Limited | ABN 69 000 123 071 Goodman Funds Management Limited | ABN 48 067 796 641 | AFSL Number 223621 as responsible entity of Goodman Industrial Trust | ARSN 091213 839 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

Goodman Logistics (HK) Limited | Company No. 1700359 | ARBN 155 911 149 | a Hong Kong company with limited liability Suite 2008, Three Pacific Place, 1 Queen’s Road East, Hong Kong | Tel +852 2249 3100 | Fax +852 2525 2070 info-au@goodman.com | www.goodman.com

December 2014

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$ 27.7bn total assets under management

2014 Highlights Video+

View the video from the home page of the goodman.com website

Inside

As 2014 draws to a close, we are pleased to provide you with an update on recent initiatives and activities undertaken by the Group and its operations around the world.

This includes a wrap-up of Goodman’s recently held Annual General Meetings (AGM), together with operational highlights for the first quarter of the 2015 financial year. As part of this, we provide an overview of some of the development projects we have underway and the leasing results being achieved.

We also take a closer look at the innovative customer event held last month in Japan, what’s happening in our Brazil joint venture, as well as some of the many community activities that Goodman people have been participating in.

02 Operational update

08 Property development

10 Building communities

11 Securityholder information

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Delivering innovation+ $2.7bn of development work in progress

Operational update

We are benefitting from our size and scale and diverse global operating platform which spans 16 countries.

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A world-class business

Goodman held its AGM in Sydney on 20 November, which included an overview of the Group’s results and key achievements for the 2014 financial year, its strategic positioning and outlook for the year ahead.

Securityholders were also updated on the positive start that Goodman has made to the current financial year, delivering a strong operating performance across all parts of our business in the first quarter. We are well positioned as an Australian-listed, leading specialist provider of prime industrial property and business space, and are benefitting from our size and scale and diverse global operating platform which spans 16 countries.

In the first quarter, Goodman increased total assets under management to $27.7 billion, up from $26.8 billion at 30 June 2014. This was achieved through organic growth and was mainly driven by our development completions.

Our Property Services teams around the world were successful in leasing over 800,000 sqm of space, which represents $91 million in annual net property income and a weighted average lease expiry of 4.1 years. The robust leasing activity reflects the significant contributions particularly from Australia, Greater China and Continental Europe, which has enabled Goodman to maintain occupancy at a high 96% across its portfolio of 432 properties.

96 % occupancy

69 underway globally

developments currently

Goodman has also achieved strong pre-leasing success in its development workbook in markets where we are undertaking a development-led strategy, particularly in Asia and Brazil. This has seen our overall development pre-commitments increase to 61% from 53% at 30 June 2014.

We secured $0.5 billion of new development commitments during the quarter, highlighting the momentum across our development business. This has increased our development work in progress to $2.7 billion across 69 projects in 12 countries, ensuring Goodman continues to be one of the largest developers of industrial property globally. Importantly, and in line with the Group’s prudent development approach, we do not focus on being the largest operator in each market, but on the quality and consistent delivery of our development product and the service we offer. Please refer to pages 8 and 9 of this newsletter for more information on some of the development projects we are currently undertaking around the world.

2 | INVESTOR INSIGHT DECEMBER 2014

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INVESTOR INSIGHT DECEMBER 2014 | 3

Operational update continued

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The operating environment continues to be characterised by limited supply and strong investor demand for quality industrial property. These conditions are in turn providing Goodman with a broad range of opportunities to enhance the overall quality of our portfolio and maximise returns by developing our own product and repositioning or selectively selling assets. In this context, we completed $322 million of asset sales during the quarter, with a further $1.3 billion of the Group’s property assets currently under offer or in due diligence (excluding urban renewal sites). The proceeds from the sale of assets will be reinvested in Goodman’s global development business to help fund our development activities.

We are making good progress on our urban renewal strategy, with the Group achieving positive planning outcomes on a number of its Sydney sites in the first quarter. Our urban renewal pipeline has been maintained at 35,000 apartments and has the potential to further grow over time. Reflecting the strong demand for zoned residential sites, Goodman currently has over $500 million of urban renewal sites on the market, under due diligence or conditionally transacted in Australia and the United Kingdom. Recent planning changes and comparable sales will result in the revaluation of a number of Goodman’s urban renewal sites to reflect current saleable values. This is expected to result in a valuation uplift in the range of $150 to $170 million and has the potential to be a recurring feature of our business over the long-term.

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Europe 333,395 sqm leasing area

$ 23.7m annual rent

Total leasing activity Group and Managed Funds

806,761 sqm total leasing area

$ 90.9m

total annual rent

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In the current operating environment Goodman has a broad range of opportunities available to enhance the overall quality of our portfolio and maximise returns.

4 | INVESTOR INSIGHT DECEMBER 2014

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Asia
132,329 sqm
leasing area
$ 19.4m
annual rent
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Australia + New Zealand 341,037 sqm leasing area

$ 47.8m annual rent

Goodman Pudong International Airport Logistics Park, China

INVESTOR INSIGHT DECEMBER 2014 | 5

Operational update continued

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Via Varejo, Rio de Janeiro, Brazil
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Brazil progressing well

Goodman is successfully undertaking the strategic rollout of its development-led approach in Brazil since entering the market in November 2012 through the formation of its WTGoodman joint venture. Over the past two years, WTGoodman has maintained its development pipeline at approximately 900,000 sqm across five sites, primarily in the key São Paulo and Rio de Janeiro logistics markets.

Over the past two years, WTGoodman has maintained its development pipeline at approximately 900,000 sqm across five sites.

The joint venture currently has 287,000 sqm of development projects underway, and is benefitting from higher development volumes and increased customer demand for new built-to-suit facilities. To highlight this, WTGoodman recently secured a pre-commitment from Via Varejo, one of Brazil’s leading consumer goods retailers, for a 145,000 sqm distribution centre in Campo Grande, Rio de Janeiro, and has further built-to-suit opportunities currently in negotiation.

In São Paulo, Goodman has commenced development of the 58,000 sqm first phase of Itupeva, a new warehouse scheme. On a fully developed basis, Itupeva will provide a total lettable area of 270,000 sqm, with the first phase expected to be delivered in 2015.

6 | INVESTOR INSIGHT DECEMBER 2014

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Itupeva, São Paulo, Brazil

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Japan customer event

Goodman Japan hosted a customer event at the Australian embassy in Tokyo on 13 November to celebrate the start of the “Australian” summer, with over 250 of its valued customers, financiers, investors and business partners. Australia’s Ambassador to Japan, Mr Bruce Miller attended as a special guest.

During the course of the evening, Goodman Japan announced the launch of Goodman Business Park Chiba, a unique, master-planned, multi-use logistics and business park, which on completion will have a value in excess of US$1 billion.

The event was very successful for Goodman, with a number of lease negotiations commencing with customers for its new and current development projects in Japan as a direct result of the event.

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INVESTOR INSIGHT DECEMBER 2014 | 7

Property development

Robust development activity

Some of our recently announced developments include:

• + 27,781 sqm pre-committed warehouse and office facility for leading express delivery company, TNT Australia at Redbank Motorway Estate in Brisbane.

• + 19,771 sqm, comprising two warehouse precommitments of 10,821 sqm by logistics solutions provider, Silk Contract Logistics and 8,950 sqm by global freight forwarder and contract logistics provider, Yusen Logistics at Lytton Industrial Estate, Brisbane.

• + 76,400 sqm in Nanjing, China for Best Logistics, a leading Chinese integrated logistics and supply chain management services provider. The development consists of the refurbishment and expansion of an existing warehouse to 52,000 sqm and a new 24,000 sqm built-to-suit facility.

• + 120,000 sqm multi-customer logistics facility, 25% pre-leased to a leading Japanese third party logistics provider, and representing the first phase of development at Goodman Chiba Logistics Park in Tokyo, Japan.

• + 27,616 sqm fulfilment centre for e-commerce and online auction services provider, eBay in Germany’s Leipzig-Halle region.

• + 35,000 sqm logistics centre near Berlin, Germany for the country’s largest online furniture retailer, Home24.

• + 145,000 sqm built-to-suit distribution centre at Campo Grande in Rio de Janeiro, Brazil for Via Varejo, a leading Brazilian consumer goods retailer.

• + 12,270 sqm expansion of an initial 33,000 sqm built-to-suit facility for BMW Brilliance Automotive at Goodman Citylink development in Hebei Province, Northern China.

8 | INVESTOR INSIGHT DECEMBER 2014

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Goodman’s development activities
around the world experienced solid
growth over the first quarter, with
active projects underway in all of
our operating regions.
TNT, Redbank Motorway Estate, Brisbane, Australia
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Goodman Business Park Chiba, Tokyo, Japan
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Home24, Berlin, Germany

INVESTOR INSIGHT DECEMBER 2014 | 9

Goodman Foundation

The ongoing work of the Goodman Foundation and the active participation of our staff around the world in a range of activities, is helping to make a positive difference to a number of charities and the valuable services they provide in the communities in which Goodman operates.

Building communities

Our activities include:

• + MS Sydney to the Gong Bike Ride – The ‘Goodman Green Machine’ once again participated in this year’s annual event to support MS Australia’s fantastic work to help improve the quality of life of people suffering from Multiple Sclerosis. A total of 13 staff tackled the 58km and 90km rides, with a number of the team taking part for the first time.

• + OzHarvest – The Goodman Foundation has proudly supported OzHarvest since 2006 and recently donated new warehouse space at Goodman’s Alexandria Industrial Estate, Sydney. This has become OzHarvest’s new headquarters and will enable the significant growth of their storage and logistics operations, as well as housing a commercial kitchen for their Nourish Program. Many of Goodman’s suppliers also provided their skills and expertise pro bono to deliver this new space for OzHarvest so that they can reach even more people that depend on them for fresh food on a daily basis.

• + Good Beginnings – Goodman’s Sydney team are participating again this year in Good Beginnings’ Christmas Toy Drive. Staff are able to make either a cash donation toward the Toy Drive or choose a specific Christmas gift to purchase and donate from the ‘wishing list’. All donated toys help to support the work of Play2Learn Taree, which delivers supported playgroups and other group initiatives for disadvantaged children.

• + Property Industry Foundation – Goodman participated in the Property Industry Foundation’s (PIF) National Hard Hat & Workplace Giving Campaign, which is an annual fund raising event for young homeless people to provide rehabilitation, an education and an opportunity to participate in a positive and healthy life. Goodman staff were recognised by PIF for their overall fund raising efforts and commitment to the Campaign.

• + SOS Children’s Villages – Goodman’s Continental Europe team continues to build on its partnership with SOS Children’s Villages, a charity located across 133 countries that provides care and support programmes for children who can no longer grow up in their biological families. Staff from our Brussels office rolled up their sleeves to help refurbish the SOS Children’s Village property, Simba House in Western Belgium. The newly renovated house offers temporary shelter, for one to two years, for children aged 0-12 years that are living in extreme and difficult circumstances.

• + Steptember – This is the first global charity challenge the Goodman Foundation has participated in. Steptember raises funds for vital research into cerebral palsy, which is the most common disability affecting children. 97 Goodman teams from all around the world took on the challenge, with each team of four people putting on their pedometers and walking at least 10,000 steps each day for four weeks, with the aim of virtually climbing the seven highest peaks in the world.

10 | INVESTOR INSIGHT DECEMBER 2014

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MS Sydney to the Gong Bike Ride, Australia OzHarvest’s new warehouse space, Australia
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SOS Children’s Villages, Belgium
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Securityholder information

Upcoming key dates

22 December 2014 Announcement of estimated half year distribution 29 December 2014 Ex-distribution date 31 December 2014 Record date for the half year distribution 12 February 2015 Announcement of half year results 20 February 2015 Distribution payment date

Note: Future dates may be subject to change.

INVESTOR INSIGHT DECEMBER 2014 | 11

Securityholder information continued

AGM voting results

Resolution Number of votes Total % 1 Appoint Auditors of Goodman Logistics (HK) Limited Votes cast FOR the resolution 1,433,456,700 99.82 Votes cast AGAINST the resolution 2,564,992 0.18 2A Re-Election of Mr Ian Ferrier as a Director of Goodman Limited Votes cast FOR the resolution 1,403,820,043 98.13 Votes cast AGAINST the resolution 26,724,963 1.87 2B Re-Election of Mr Ian Ferrier as a Director of Goodman Logistics (HK) Limited Limited Votes cast FOR the resolution 1,398,500,032 98.14 Votes cast AGAINST the resolution 26,471,237 1.86 3A Re-Election of Mr Philip Fan as a Director of Goodman Limited Votes cast FOR the resolution 1,390,423,034 96.91 Votes cast AGAINST the resolution 44,346,204 3.09 3B Re-Election of Mr Philip Fan as a Director of Goodman Logistics (HK) Limited Votes cast FOR the resolution 1,384,881,918 96.90 Votes cast AGAINST the resolution 44,306,544 3.10 4 Re-Election of Mr John Harkness as a Director of Goodman Limited Votes cast FOR the resolution 1,436,245,576 99.61 Votes cast AGAINST the resolution 5,680,339 0.39 5 Re-Election of Ms Anne Keating as a Director of Goodman Limited Votes cast FOR the resolution 1,437,229,221 99.70 Votes cast AGAINST the resolution 4,272,077 0.30	Resolution Number of votes Total %
	6 Adoption of the Goodman Limited Remuneration Report Votes cast FOR the resolution 1,202,197,965 87.31 Votes cast AGAINST the resolution 174,716,759 12.69
	7 Issue of Performance Rights under the Long Term Incentive Plan to Mr Gregory Goodman Votes cast FOR the resolution 1,175,148,157 87.35 Votes cast AGAINST the resolution 170,194,975 12.65
	8 Issue of Performance Rights under the Long Term Incentive Plan to Mr Philip Pearce Votes cast FOR the resolution 1,175,698,591 87.36 Votes cast AGAINST the resolution 170,170,754 12.64
	9 Issue of Performance Rights under the Long Term Incentive Plan to Mr Danny Peeters Votes cast FOR the resolution 1,175,708,160 87.36 Votes cast AGAINST the resolution 170,161,185 12.64
	10 Issue of Performance Rights under the Long Term Incentive Plan to Mr Anthony Rozic Votes cast FOR the resolution 1,175,627,317 87.35 Votes cast AGAINST the resolution 170,243,228 12.65
	11 Adoption of the New GLHK Articles of Association Votes cast FOR the resolution 1,390,819,756 97.49 Votes cast AGAINST the resolution 35,808,109 2.51

Office

Goodman Group

Goodman Limited Registered offices ABN 69 000 123 071 Level 17 Goodman Industrial Trust 60 Castlereagh Street ARSN 091 213 839 Sydney NSW 2000 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

Suite 2008, Three Pacific Place, 1 Queen’s Road East, Hong Kong

Goodman Logistics (HK) Limited Company No. 1700359 ARBN 155 911 149

• T: +852 2249 3100

• F: +852 2525 2070

Security registrar

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• T: 1300 723 040 (within Australia) +61 3 9415 4043 (outside Australia)

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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) and Goodman Logistics (HK) Limited (Company Number 1700359; ARBN 155911142 – A Hong Kong company with limited liability)). 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 2014

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