GROWTHPOINT PROPERTIES AUSTRALIA — Capital/Financing Update 2021

Jun 10, 2021

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11 June 2021

Acquisition of A-grade metropolitan office building in Sydney Olympic Park

Growthpoint Properties Australia (Growthpoint) announces that it is has exchanged contracts with Charter Hall FLK Funds Management Limited to purchase a 100 per cent leasehold interest in an A-grade, modern office asset, located in a prominent position in Sydney Olympic Park for $52.0 million.[1]

Completed in 2018, the asset, located at 11 Murray Rose Avenue, Sydney Olympic Park, offers 5,684 square metres of accommodation, with ground floor retail, five upper levels of high-quality office accommodation and two levels of basement parking. The asset has achieved a 5.0 Star NABERS Energy rating and 5.5 Star NABERS Water rating.

The asset is fully leased to high-quality tenants with a 4.9 year weighted average lease expiry (WALE) as at 31 May 2021. Major tenants include B2G Consortium, a consortium of four major infrastructure companies who have a longterm contract with Sydney Water, Jardine Lloyd Thompson, who were recently acquired by global insurance company, Marsh and McLennan, and Energizer Australia, a wholly-owned subsidiary of US-listed batteries manufacturer, Energizer Holdings. The property is being acquired on a 5.5% initial income yield.[2]

Located directly opposite Olympic Park station and approximately 500 metres from the ANZ Stadium, the asset is in a premium location in Sydney Olympic Park. It also has direct access to Sydney’s orbital road network via the M4 Motorway.

The contract of sale is conditional upon receiving consent from the Sydney Olympic Park Authority (SOPA) to the sale of the property and assignment of the ground lease and approval of the sale of the property from the Charter Hall Direct SOP Opportunity Fund’s unitholders. Growthpoint expects settlement to occur 10 business days after these conditions precedent have been satisfied.

Timothy Collyer, Managing Director of Growthpoint, said, “We are very pleased to acquire a three-year old asset in Sydney Olympic Park, reinvesting the proceeds from our recent divestment of two older assets located nearby. This asset is a great addition to the Group’s portfolio and supports our strategy to maintain a portfolio of modern, highquality, resilient assets, which meet our tenants’ needs now and into the future.

“Growthpoint now owns three A-grade assets in Sydney Olympic Park, with a combined value of more than $250 million. We are confident in the long-term outlook of this key metropolitan market, which is well placed to benefit from a number of major infrastructure projects, which will further connect the area to population centres and the Sydney CBD, supporting continued strong tenant demand. Once complete, the Sydney Metro West is expected to more than half the current travel times to Parramatta and the CBD to six minutes and 14 minutes, respectively.”

This announcement was authorised for release by Timothy Collyer.

For further information, please contact:

Virginia Spring

Investor Relations Manager Telephone: +61 3 8681 2933

Growthpoint Properties Australia

Level 31, 35 Collins St, Melbourne, VIC 3000 growthpoint.com.au

1 Net sale price.

2 Initial passing yield before abatements.

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

About Growthpoint

Growthpoint provides spaces for people to thrive. For more than 11 years, we’ve been investing in high-quality industrial and office properties across Australia. Today, we own and manage 55 properties, valued at approximately $4.2 billion.[3]

We actively manage our portfolio. We invest in our existing properties, ensuring they meet our tenants’ needs now and into the future. We are also focused on growing our property portfolio.

We are committed to operating in a sustainable way and reducing our impact on the environment.

Growthpoint is a real estate investment trust (REIT), listed on the ASX, and is part of the S&P/ASX 200. Moody’s has issued us with an investment-grade rating of Baa2 for domestic senior secured debt.

3 Valuations as at 31 December 2020.