GROWTHPOINT PROPERTIES AUSTRALIA — AGM Information 2012

Nov 26, 2012

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ASX ANNOUNCEMENT GROWTHPOINT PROPERTIES AUSTRALIA (ASX Code: GOZ)

27 November 2012

ANNUAL GENERAL MEETING OF GROWTHPOINT PROPERTIES AUSTRALIA LIMITED MEETING OF THE UNIT HOLDERS OF GROWTHPOINT PROPERTIES AUSTRALIA TRUST

CHAIRMAN’S ADDRESS

Welcome to the combined annual general meeting of Growthpoint Properties Australia Limited and the general meeting of Growthpoint Properties Australia Trust. My name is Lyn Shaddock and I have the privilege of chairing your organisation.

As we have a quorum for these meetings, I am pleased to declare the meetings officially open.

The notice of meetings was sent to all security holders on 25 October 2012 and I propose to take it as read.

In addition to those security holders who are present, I would like to welcome a representative from our auditors, Dean Waters of KPMG, and our senior management team. I am also delighted that all directors are able to attend this year, including those based in South Africa.

The agenda for today is as follows:

1. A presentation on the business and its strategy by Managing Director Tim Collyer;

2. Presentation of the combined annual report for the company and the trust. I will call for questions and comments following the presentation of these accounts. The company’s auditors, KPMG, are in attendance to answer any questions security holders may have for them in relation to the conduct of the audit, the preparation and content of the auditor’s report, the accounting policies adopted and the independence of the auditor. Please address questions to me in the first instance and I will direct them as appropriate.

3. I will then explain the voting procedures and address each of the remaining items of business set out in the notice of meetings. Shareholders will have the opportunity to ask questions or make comments in relation to each item.

After the meeting, directors, management and KPMG will be available for discussions with individual security holders.

Ladies and Gentlemen, we distributed 17.6 cents per GOZ security over the last financial year; 2.9% above the previous financial year and in excess of guidance. This represents three consecutive years of earnings and distribution growth for securityholders demonstrating the consistency and predictably of an investment in Growthpoint Properties Australia since it was restructured and recapitalised in late 2009. We expect distributions to continue to grow and are forecasting a distribution of 18.3 cents per stapled security for the current financial year.

Our predictable and growing income stream is primarily the result of owning well located commercial buildings in Australia with long leases to strong tenants. We continue to see this as a sound business plan and have been encouraged by increasing demand for securities in Growthpoint Properties Australia, both from domestic and offshore investors resulting in GOZ trading in excess of its net tangible assets for most of this calendar year.

Our management team, led by Managing Director Timothy Collyer, have again achieved asset growth as well as distribution growth and an increased security price whilst enhancing and diversifying the underlying asset base. The property assets of the Group are now in excess of $1.6 billion following the recent purchase of five well located commercial buildings and the completion or near completion of buildings in Brisbane and Sydney.

Growthpoint Properties Australia Trust ARSN 120 121 002 Growthpoint Properties Australia Limited ABN 33 124 093 901 AFSL 316409

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Growthpoint Properties (ASX:GOZ) ASX Announcement 27 November 2012

During the year, we farewelled David Spruell from the board. David had been a director of Growthpoint Properties Australia Limited and the predecessor responsible entity since the listing of what is now Growthpoint Properties Australia. He served for that time as Chairman of our Audit and Risk Committee and made a significant contribution to the Group. We also welcomed Maxine Brenner. Maxine was appointed Chair of our Audit and Risk Committee and I am confident that her expertise and experience will continue David’ high standards.

With the cost of borrowing decreasing, the demand for property investments increasing and our opportunities for growth continuing, we continue to look forward with optimism. I am confident that, through the expertise of our board and management and leveraging off our quality asset base, we are well placed for the future.

I will now hand over to the Managing Director, Tim Collyer.

MANAGING DIRECTOR’S ADDRESS

Securityholders, ladies and gentlemen, I welcome you to the Growthpoint Properties Australia Annual General Meeting today.

In my presentation, I would like to cover five key topics:

1. FY2012 highlights

2. Property portfolio – key metrics

3. Property portfolio – acquisitions and developments

4. Growth in the Group

5. Outlook.

Firstly, the highlights of FY2012.

Growthpoint Properties Australia enjoyed a successful FY2012 with growth in the property assets of the Group, distributions to security holders and strong financial returns.

Distributable income of $57.7 million, or 17.7 cents per security was 58.5% greater than FY2011. Security holders were paid a distribution of 17.6 cents per security, above guidance and approximately 2.9% above FY2011.

Significantly, the Group’s assets have increased to over $1.6 billion, with the acquisition of 6 assets for $346.2 million. GOZ’s market capitalisation, or value on the ASX, now approximates $830 million.

Directors and management have been vigilant in growing the business to maintain a quality property portfolio, with modern properties, leased long term to quality tenants with a rising rental income.

As at 30 June 2012, the property portfolio enjoyed a weighted average lease expiry (WALE) of 7.2 years, a high occupancy rate of 99.1%, a weighted average rent review (WARR) of 3.2% per annum and a weighted average capitalisation rate (WACR) of 8.3%.

Growthpoint’s capital management program has seen in excess of $640 million of equity raised since FY2009, funding the expansion of the Group.

Australian banks have supported the Group’s growth and we took the opportunity to tranche the Group’s main $835 million syndicated debt facility, extend the term and enter a new bilateral debt facility in FY2012. Post year end, debt was increased by $60 million and now totals $895 million, with an average duration of 3.2 years, with no debt maturing until December 2014.

During the financial year, the Group has lowered its average cost of debt from 7.70% on 30 June 2011 to 7.25% at 30 June 2012. Since year end the cost of debt has continued to fall and is 6.99% as at 31 October 2012. We have also extended the interest rate hedging profile with 94% of the Group’s debt

Growthpoint Properties Australia Trust ARSN 120 121 002 Growthpoint Properties Australia Limited ABN 33 124 093 901 AFSL 316409

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Growthpoint Properties (ASX:GOZ) ASX Announcement 27 November 2012

hedged for an average 4.4 years from 30 June 2012. Further, a higher ASX price combined with the lower cost of debt has resulted in a lower cost of capital than previously.

GOZ has produced attractive and consistent returns for the last 3 years and enjoys a generous distribution yield at current trading levels 8.5% versus the sector average of 5.8%. The ASX price has been consistently trading above the Net Tangible Asset value per security since the start of this calendar year.

The outlook for the Group is positive and EPS and DPS guidance previously provided to the market is reconfirmed.

Directors and management believe that investment in modern, well located office and industrial property with quality corporate and government tenants in Australia is a sound investment. GOZ’s portfolio exemplifies these characteristics.

A key feature of the Group is the quality of its tenancy base; our top ten tenants are all “blue chip” corporate and government tenants.

You will note from the slide on screen that there is limited lease expiry risk within the portfolio in the near term. As at 30 June 2012, 1% of the portfolio is vacant, 1% of income expires in FY2013 and 8% in 2014. Executive Management enjoy excellent relationships with tenants of the Group and we seek to renew leases prior to their expiry.

GOZ has been diversifying into office markets around the country and the portfolio is evenly weighted between office (49% by value) and industrial properties (51% by value). In particular, we have increased our weighting to Queensland, which we believe has a well diversified economy backed by the mining and resources sector. State growth has been relatively strong. We have reviewed New South Wales and Western Australia carefully, with an aim of additional investment if opportunities arise.

Retail property investment opportunities have been reviewed periodically; however, our pricing for some assets has been lower than that expected by vendors. We have been cautious about significant investment at the time of a changing retail landscape and poorer consumer confidence and spending. Our near term focus remains on office and industrial property markets.

The Group continued to invest into the office market during FY2012. The main acquisitions are highlighted in the slide. In summary, we have purchased modern properties, with high occupancy and a medium term WALE at yields approximating 8% to 10%. The 333 Ann Street, Brisbane and 10-12 Mort Street, Canberra properties are well located within significant CBD office markets.

The Board has determined that acquisition of assets through development fund-throughs is a sound strategy where development risks to the Group are minimised. Pre-commitments to quality tenants, experienced developers and quality builders are prerequisites to investment. We are pleased to announce that practical completion of the Energex, Nundah project was achieved on 14 November 2012 and that the Fox Sports, Artarmon project has progressed well with completion expected mid December 2012.

The Group has grown significantly since its origins in September 2009. A total of $640 million in equity has been raised and the market capitalisation of the Group is now in excess of $830 million. The security price has risen, as too has the distribution per security.

Growth of the Group has been planned and structured – we have not grown for growth’s sake. Importantly, Directors and management have sought:

• To maintain or improve the earnings and distribution profile of the Group post any acquisition.

• To offer the opportunity for security holders to participate in the growth of the Group; to this end we have completed four rights offers.

• In accordance with the Group’s investment mandate, to expand and diversify the property portfolio into office and industrial property sectors, to have a greater spread of properties across geographic locations and a larger tenancy base from which rental is derived.

• To obtain economies of scale and maintain operating costs to a competitive level as the business has grown. Security holders would be pleased that the average of all operating costs (all costs excluding interest) for the last 3 years have been approximately 0.4% of gross assets

Growthpoint Properties Australia Trust ARSN 120 121 002 Growthpoint Properties Australia Limited ABN 33 124 093 901 AFSL 316409

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Growthpoint Properties (ASX:GOZ) ASX Announcement 27 November 2012

• To increase the market capitalisation and free float trading on the ASX, so the Group can be relevant to a broader base of investors

I conclude with the Outlook.

The Group is well positioned with a clear and simple strategy to own quality commercial property in Australia to derive rental income. The property portfolio is well placed with a long weighted average lease expiry, high occupancy, quality tenants and a rising rental income from leases with fixed growth.

Our focus within the property portfolio is to ensure completed development properties are transitioned to the Growthpoint management system and that tenants enjoy the new buildings. There are three office floors and one small industrial property vacant in our Brisbane portfolio and we have leasing campaigns underway for this space. Current is a small expansion of the Bridgestone, Derrimut property, with the tenant having committed to a new 7 year lease post its completion. The Group has established a NABERS rating program to attempt to achieve higher ratings throughout the portfolio.

We will look to reduce gearing and then diversify our debt funding to debt capital markets in the medium term, targeting an investment grade rating from a ratings agency.

We continue to review acquisition opportunities and will pursue these where there is strategic advantage to do so. The market has become more competitive as the attractive income yields of Australian commercial property, relative to other asset classes, are sought by offshore buyers, superannuation funds, A-REIT’s and other institutional investors. Having said this, there are significant opportunities to pursue for the Group.

As Lyn mentioned, we are forecasting a distribution of 18.3 cents per stapled security for the current financial year. At yesterday’s closing price of $2.15, this represents a distribution yield of 8.5%.

I would like to thank the Board and management for their support and expertise during this time of expansion of the Group. To my mind, the Board is operating very well, with a wide breadth of property, finance, legal and public company administration expertise. Management have a clear focus on the property portfolio and the wider Group and are enthusiastic about working for Growthpoint. Direct employee numbers are now at 11 with additional hiring during FY2012. With a larger scale operation, we have out-grown our existing premises and have taken a lease at 357 Collins Street, Melbourne and will be relocating there in February 2013. Employees are excited about this move which will provide for a great working environment and better facilities.

Finally, I would like to thank security holders for their support of the Group.

Thank you for your attendance today.

Ends

Timothy Collyer, Managing Director

www.growthpoint.com.au

Media and investor enquiries should be directed to:

Aaron Hockly, Company Secretary Growthpoint Properties Australia Telephone: +61 8681 2900 info@growthpoint.com.au

Growthpoint Properties Australia

Growthpoint Properties Australia is an ASX listed A-REIT (ASX Code: GOZ), that specialises in the ownership and management of quality investment property. GOZ owns a diversified portfolio of 41 office and industrial investment properties throughout Australia valued at approximately $1.6 billion (following completion of two buildings currently being developed). GOZ has an investment mandate to invest in office, industrial and retail property sectors. GOZ aims to grow its portfolio over time and to continue to diversify its property investment by asset class, geography and tenant exposure through individual property acquisitions, portfolio transactions and corporate activity (M&A transactions) as opportunities arise.

Growthpoint Properties Australia Trust ARSN 120 121 002 Growthpoint Properties Australia Limited ABN 33 124 093 901 AFSL 316409

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