MIRVAC GROUP — Annual Report 2011

Aug 22, 2011

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23 August 2011

MIRVAC ANNOUNCES FY11 RESULT IN LINE WITH OPERATING GUIDANCE

Financial Highlights

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• operating net profit after tax up 30.2 per cent to $358.5 million[1]

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• operating earnings per stapled security up 13.7 per cent to 10.5 cents[2] in line with guidance

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• statutory net profit down by 22.3 per cent to $182.3 million

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• net tangible assets (“NTA”) per stapled security of $1.62[3]

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• distributions up 2.5 per cent to 8.2 cents per stapled security

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• maintained conservative balance sheet gearing of 26.3 per cent[4]

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• refinanced $2.1 billion in facilities and extended debt maturity profile

Operational Highlights

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• achieved a 4.1 per cent like-for-like increase in net operating income for MPT increased occupancy from 97.6 per cent to 98.1 per cent[5]

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• disposed of 11 non-core commercial assets above book value, realising $236.8 million[6] in proceeds

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• exchanged pre-sales contracts of $980.3 million[7] in residential projects, up 22.2 per cent

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• achieved 1,724 residential lot settlements

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• restocked the residential pipeline via the acquisition of a further 2,788 lots

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• 55.8 per cent of expected FY12 development revenue is already secured by pre-sales commenced re-development of 8 Chifley Square, Sydney NSW, and achieved 50 per cent sale via a strategic relationship

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• continued englobo non-core land sales program realising $129.3 million[8] in proceeds

Commenting on the result, Mirvac's Managing Director, Nick Collishaw said, “We are very pleased to deliver a solid result in line with our operating EPS guidance of 10.5 cents per stapled security, which represents a 13.7 per cent increase on last year. This result highlights the benefits flowing from our strategic decision to take an overweight position in the office sector and the high quality of our portfolio.”

“Our ongoing focus is to improve the Group’s return on invested capital for the development business. In terms of delivering on this priority, the disposal of englobo non-core land is running in line with expectations, we have fast tracked development of a number of higher margin projects and we have almost $1.0 billion in pre-sales on hand.”

“In addition we have added 2,788 new lots to the pipeline over the period, most of which have been efficiently acquired on deferred terms, including landmark sites such as Harold

1 Excludes NCI FY11 ($0.3m) and FY10 ($2.7m)

2 Diluted EPS profit excludes specific non-cash and significant items and related taxation.

3 NTA per stapled security based on ordinary securities including employee incentive scheme (“EIS”) securities.

4 Net debt (at FX hedged rate) excluding leases/(total tangible assets less cash).

5 By area excludes assets under development.

6 Before costs. Includes two disposals that occurred post 30 June 2011 namely Ballina Central NSW (which is conditional) and Peninsula Lifestyle, Mornington Vic, which is unconditionally exchanged.

7 Total exchanged pre-sales contracts as at 30 June 2011, adjusted for MGR share of JV’s, associates and Mirvac’s managed funds.

8 Includes Magenta Shores which settled 12 August 2011.

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Park. These new projects will contribute significantly in achieving our return targets and are another example of how we are actively repositioning the development business.”

“Notwithstanding a recent slowdown in the growth of consumer spending, Mirvac remains well placed to deliver on its stated targets and our balance sheet gearing remains conservative,” Mr Collishaw said.

SUMMARY OF OPERATING PERFORMANCE FOR MIRVAC’S TWO CORE DIVISIONS

INVESTMENT DIVISION

The Investment Division has approximately $5.9 billion of invested capital[9] and delivered operating profit before tax of $389.4 million for the year ended 30 June 2011. The quality of the portfolio continued to improve with the disposal of 11 non-aligned assets, above book value, realising $236.8 million.[10]

Overall, MPT achieved a 4.1 per cent like-for-like increase in net operating income and an improvement in occupancy from 97.6 per cent to 98.1 per cent.[9]

Commenting on the divisional result, Managing Director, Nick Collishaw said, “The strategic positioning of MPT is providing tangible benefits in the current economic climate as demonstrated by strong portfolio metrics across the office and retail businesses.”

MPT’s earnings outlook is supported by 87.3 per cent[9] of FY12 rent reviews being fixed or linked to the Consumer Price Index (“CPI”).

Office Portfolio:

The office portfolio achieved strong like-for-like growth of 4.2 per cent in operating income for the year ended 30 June 2011. Occupancy increased from 97.5 per cent to 97.8 per cent[10] , with an average weighted lease expiry of 6.3 years.[9]

The quality of the office portfolio is demonstrated by its 88.8 per cent weighting to premium and A Grade assets. Furthermore, the portfolio is weighted towards Sydney and Melbourne CBD prime office sectors which are expected to achieve above trend face prime rental growth.

Retail Portfolio:

The retail portfolio achieved pleasing like-for-like growth of 4.3 per cent in net operating income for the year ended 30 June 2011, while occupancy costs remained sustainable at 13.2 per cent. Occupancy increased from 97.9 per cent to 99.0 per cent.

The retail portfolio is well positioned with 84.7 per cent weighting to retail centres driven by non-discretionary spending.

DEVELOPMENT

The Development Division has delivered operating profit of $34.0m for the year ended 30 June 2011.

9 By area excludes assets under development.

10 Includes two disposals that occurred post 30 June 2011 namely Ballina Central NSW (which is conditional) and Peninsula Lifestyle, Mornington VIC, which is unconditionally exchanged (before costs)

2

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Residential:

The Residential business continued to deliver quality residential product in key markets and settled 1,724 residential lots for the year ended 30 June 2011 along with a 46.8 per cent increase in residential EBIT[11] and improvement in gross margin to 14.2 per cent.

The division has substantial secured future income with $980.3 million[12] of exchanged residential pre-sales contracts, a 22.2 per cent increase on the previous year. Approximately 55.8 per cent of expected FY12 development revenue is already secured by pre-sales. Of contracts exchanged within the year, 72.2 per cent related to property priced below $1.0 million.

We continued to restock the residential pipeline via the acquisition of a further 2,788 lots, including the Harold Park Paceway in Sydney which is to be developed into a 1,200 lot masterplanned community.

Commercial:

During the year the Commercial Division progressed various projects within its $1.4 billion development pipeline[13] as follows:-

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• substantial completion of the 43,500 sqm Dick Smith distribution centre, while the 90,000 sqm Big W distribution centre at Hoxton Distribution Park, is ahead of schedule for expected completion in December 2011;

• sale of undeveloped industrial land totalling 5.9 hectares at Hoxton Park;

• commenced re-development at 8 Chifley Square, Sydney, a 19,000 sqm premium grade office development in Sydney’s central business district;

• substantial completion of the refurbishment at 10-20 Bond Street, Sydney;

• received Stage 1 Development Application approval for a 38,000 sqm office development at 190-200 George Street, Sydney and commenced preparation of the Stage 2 Development Application.

On the 28 July 2011, the 50 per cent part sale of 8 Chifley Square, Sydney via a strategic relationship with K-REIT Asia was completed.

Commenting on the divisional result, Managing Director, Nick Collishaw said, “Progress made with a number of development projects during the 2011 financial year will deliver a return to normalised financial performance for the Development Division by 2014”.

“The Group remains well positioned to capitalise on its expertise in the apartment sector and is focused on capturing the demand for high density product at mid price points with projects such as Era in Chatswood, Sydney and Yarra’s Edge in Melbourne.”

“We have also made solid progress on projects within the commercial development pipeline and are pleased with the high level of tenant inquiry for 8 Chifley Square. Furthermore, 81.0 per cent of 10-20 Bond Street, Sydney is now committed with 59.3 per cent of the building leased,” Mr Collishaw said.

11 Excludes commercial project contributions 12 Exchanged contracts as at 30 June 2011, adjusted for MGR share of JV’s, associates and Mirvac’s managed funds. 13 Mirvac share of forecast total project cost to complete as at 30 June 2011.

3

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During the year, the Group provided $295.8 million for development inventory impairments. Mirvac continues to progress the sale of englobo non-core land in line with expectations. Pre 30 June, the Group disposed of the undeveloped land at Tennyson Reach and remains on track to reopen the Tennyson Reach sales office in January, 2012. The englobo disposal of the Magenta Shores project also settled on 12 August 2011, at the expected sale price and ahead of schedule.

CAPITAL POSITION AND FUNDING

The Group maintains a conservative capital structure as demonstrated by balance sheet gearing of 26.3 per cent[14] . Mirvac successfully completed the refinance of debt tranches maturing in June 2011 and January 2012 to a new $1.85 billion multicurrency facility during the year.

In line with the Group’s debt strategy, the weighted average debt maturity profile increased from 2.6 to 3.8 years.

Mirvac further diversified its sources of debt funding with a $200 million medium term note (“MTN”) issue in September 2010, a further $25 million in March 2011 and $50 million in April 2011.

OUTLOOK AND FY12 GUIDANCE

On the outlook for FY12 Nicholas Collishaw said, “In recognition of the continued uncertainty in financial markets the Group continues to maintain adequate levels of liquidity and conservative balance sheet gearing. Our strategy is to protect revenue streams through uncertain economic times and the Group’s focus on the investment portfolio ensures that distributions will be met from stable and secure income.”

“On the development side, we have fast tracked a number of development projects and made additional acquisitions which will deliver earnings in 2013 and 2014. We continue to de-risk development returns via pre-sales and expand the brand in mid price point markets. Currently, 55.8 per cent of forecast development revenue for FY12 is secured by exchanged contracts,” Mr Collishaw said.

For FY12, Mirvac is forecasting operating EPS of 10.5 to 10.6 cents per security[15] and DPS of 8.2 to 8.4 cents per stapled security.

Further information in relation to the FY11 financial result is contained in the accompanying investor presentation and annual report. The analyst tool kit and additional information can be found on the website at www.mirvac.com.

ENDS

Investor enquiries: Media enquiries: Jessica O’Brien Rosalie Duff Group Investor Relations Manager Group Communications Manager +61 2 9080 8458 +61 2 9080 8397

14 Net debt (at FX hedged rate) excluding leases/(total tangible assets less cash). 15 Subject to change based on strategic review of Hotel division.

4

results

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AGENDA

MIRVAC’S VISION AND STRATEGY FY11 KEY ACHIEVEMENTS FINANCIAL HIGHLIGHTS CORPORATE RESPONSIBILITY AND SUSTAINABILITY TWO CORE DIVISIONS SUMMARY AND GUIDANCE RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 1

MIRVAC’S VISION

Sustainable model delivers across business cycles

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Defensive
Active
core upside
$5.9bn 1 $1.9bn 2
1) By book value, including assets under development and indirect investments.
2) Development Division total inventory, investments and loans in associates and JVs.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 2
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MIRVAC’S STRATEGY

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INVESTMENT — MPT 80% DEVELOPMENT 20%
Target average asset unlevered Target average project unlevered
IRR of >11% IRR of >18%
> Focus on high quality office > Focus on large, masterplanned
and retail assets or infill:
> Apartments
> Internal portfolio management:
> Land projects
> Sector overweights
> Continuous portfolio upgrade > Commercial development expertise
> Active asset management
> Aims to deliver high quality assets
> Utilise Development Division for and NTA uplift to MPT
organic portfolio growth
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 3
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FY11 KEY ACHIEVEMENTS

Group

Achieved FY11 operating EPS guidance delivering 13.7% growth > Increased distribution by 2.5% > Refinanced $2.1bn in facilities and extended debt maturity profile Investment Division – MPT > Achieved 4.1% like-for-like NOI growth > Increased occupancy to 98.1%[1] from 97.6%[1] (FY10) > Improved portfolio quality via $236.8m in disposals of non-core assets at 1.6% premium[ 2]

Development Division

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$980.3m [ 3] in exchanged pre-sales contracts, a 22.2% increase over FY10
> Re-activated $1.4bn [ 4] commercial development pipeline – targeting 20% profit contribution
> Expanded residential brand into mid price point
1) By area, excluding assets under development.
2) Includes Ballina Central, NSW, which exchanged conditionally post June 30 2011, and Peninsula Lifestyle, VIC, which exchanged unconditionally post 30 June 2011.
3) Total exchanged contracts as at 30 June 2011, adjusted for Mirvac’s share of JV, associates and Mirvac’s managed funds.
4) Mirvac’s share of forecast total project cost to complete as at 30 June 2011.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 4
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FINANCIAL HIGHLIGHTS
275 KENT ST, SYDNEY NSW
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 5
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FINANCIAL HIGHLIGHTS[ 1]

	~~FY11 ($m)~~ ~~FY10 ($m)~~ ~~% change~~ Total operating EBIT2 436.4 293.0 48.9% >Less net interest (92.0) (29.8) 208.7% >Add tax beneft 14.4 14.8 (2.7%) Operating proft attributable to Group securityholders3 358.5 275.3 30.2% Statutory proft attributable to Group securityholders 182.3 234.7 (22.3%) Operating EPS4 10.5cpss 9.3cpss 13.7% DPS 8.2cpss 8.0cpss 2.5% NTA5 $1.62 $1.66 (2.4%)

• 1) For further details refer to 30 June 2011 financial statements.

• 2) Including interest revenue from mezzanine loans, joint ventures and associates. Refer to glossary in Additional Information for further information. 3) Excludes NCI FY11 ($0.3m) and FY10 ($2.7m).

• 4) Diluted EPS profit excluding specific non-cash and significant items and related taxation. 5) NTA per stapled security, based on ordinary securities excluding EIS securities.

RESULTS BY MIRVAC 23 AUGUST 2011

PAGE 6

CAPITAL POSITION

Maintaining a strong capital position

Refinanced $2.1bn in facilities and extended $2.1bn in facilities and extended in facilities and extended debt maturity profile

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Refinanced $2.1bn in facilities and extended $2.1bn in facilities and extended in facilities and extended Drawn debt maturity profile [ 6]
debt maturity profile $700m
FY11 FY10 [ 1] $600m
Balance sheet gearing [ 2] 26.3% 26.8% $500m
Covenant gearing [ 3] 39.1% 34.0%
Look-through gearing 28.0% 29.1% $400m
ICR [ 4] >4.0x >3.5x
Total interest bearing debt $2,879m $2,305m $300m
Average borrowing cost [ 5] 7.27% 7.10%
Average debt maturity [6] 3.8yrs 2.6yrs $200m
S&P rating BBB BBB $100m
Hedged percentage 68.1% 65.0%
Average hedge maturity 4.5yrs 5.5yrs $0m
FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19
Bank — secured Bank USPP MTN
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1) Post WOP transaction.
2) Net debt (at FX hedged rate) excluding leases/(total tangible assets — cash).
3) Total Liabilities/Total tangible assets (refer to 30 June 2011 financial statements).
4) Adjusted EBITDA/Finance cost expense (refer to 30 June 2011 financial statements).
5) Includes margins and line fees.
6) Excludes WOP associated CMBS which is fully cash collateralised.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 7
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CAPITAL POSITION

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Mirvac has a self funding model
Net
Sources Uses of cash
of cash
FY12 position
— Positive forecast — Distribution — Positive cash flow
operating cash
— Maintenance capex
flow after interest
— Approximately — Active commercial
$200m forecast developments
MPT asset sales
+ Funding Headroom $600m +
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 8
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GROUP OVERHEAD COSTS

Overhead cost reduction is an on-going focus for management

Current cost base is scalable

	~~FY11 ($m)~~ ~~FY10 ($m)~~ ~~% change~~ Employee beneft expense1 90.2 111.4 (19.0%) Sellingand marketingexpenses1 26.4 15.3 72.5% Other expenses1 60.2 74.8 (19.5%) Total expense 1 176.8 201.5 (12.3%) Total assets 2 8,979.6 7,468.1 20.2% Expenses as a percentage of asset base 2.0% 2.7% (27.0%)

1) Operating expenses, excluding hotel management, refer to Additional Information for more detail. 2) Total assets, excluding hotel management assets, refer to 30 June 2011 financial statements for more detail. RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 9

MIRVAC’S TWO CORE DIVISIONSCORPORATE RESPONSIBILITY AND SUSTAINABILITY

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WAVERLEY PARK, MULGRAVE, VICCAPTION TBA
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 10
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CORPORATE RESPONSIBILITY AND SUSTAINABILITY

Mirvac’s commitment to excellence in sustainability delivers tangible results

Investment in energy efficiency technology has delivered significant energy savings and improvement to our office and industrial portfolio NABERS rating:

	> Investment in energy effciency technology has delivered signifcant energy savings and improvement to our offce and industrial portfolio NABERS rating:
	~~MPT Portfolio Energy Savings~~ ~~FY11~~ ~~FY10~~ ~~FY09~~ Average Offce NABERS Rating1 3.6 3.4 3.3 Portfolio EnergySavings(kWh)2 3,099,472 4,058,339 11,275,630 Equivalent GHG Emission Savings(Tonnes CO2-e)2 3,301 4,322 12,009 Portfolio EnergySavings2 2.5% 3.2% 8.2% Carbon Price Impact: > Mirvac is not a liable entity under the draft legislation > Increase in development cost to an average three bedroom house is estimated to be less than $1,0003 ~~Estimated total impact4~~ ~~Recoverable5~~ ~~Non-recoverable per sqm6~~ Investments - MPT $2.8m 54.2% $1.49 1) Excludes certain properties based on criteria detailed in the Additional Information glossary. 2) Energy savings calculated on like-for-like comparison on offce, industrial and retail assets held since FY08 where Mirvac has visibility and control. 3) Management forecast. Property Council of Australia assessment of this cost is $300. 4) Carbon price impact based on estimated electricity and gas consumption in FY13 and assuming 100% pass through from energy retailers. 5) Management forecast. 6) Per annum
	RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 11

MIRVAC’S TWO CORE DIVISIONS

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10–20 BOND STREET, SYDNEY, NSW
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 12
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INVESTMENT DIVISION – MPT

High quality portfolio with strong performance

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MPT Achievements FY11 Invested capital – $5.9bn [ 4]
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Delivered 4.1% like-for-like NOI growth > Increased occupancy to 98.1%[ 1] from 97.6%[1] (FY10)

2.2%[ 2] net valuation uplift for FY11 > Improved portfolio quality via $236.8m in disposals of non-core assets at 1.6% premium[ 3]

1) By area, excluding assets under development. 2) Net gain on fair value of investment properties divided by closing fair value at 30 June 2011.

Office 57.0%[ 5] Retail 30.2%[ 5] Other 12.8%[ 6]

3) Includes Ballina Central, NSW, which exchanged conditionally post 30 June 2011 and Peninsula Lifestyle, VIC, which exchanged unconditionally post June 2011. 4) By book value, including assets under development and indirect investments. 5) By book value, excluding assets under development and indirect investments. 6) By book value, includes industrial, indirect investments, carparks and a hotel. RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 13

PORTFOLIO HIGHLIGHTS – OFFICE

Strategic office overweight position delivers results

Strong FY11 like-for-like NOI growth of 4.2%

2.8%[ 1] net valuation uplift for FY11

Increased occupancy from 97.5%[2] (FY10) to 97.8%[ 2]

Leased 7.0% or 41,516sqm of portfolio[ 3] > 10–20 Bond Street reached 81.0%[ 4 ] commitments

Lease expiry profile by area 60%

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55%
6.3 yrs WALE
40
20
14%
7% 9% 7% 6%
0 2%
Vacant FY12 FY13 FY14 FY15 FY16 Beyond
1) Net gain on fair value of investment properties divided by closing fair value at 30 June 2011.
2) By area, excluding assets under development.
3) By area, including signed leases at 10-20 Bond Street (based on 50% ownership).
4) As at 15 August 2011. Figure comprised of 59.3% signed leases and 21.7% Heads of Agreement.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 14
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PORTFOLIO HIGHLIGHTS – OFFICE

High quality office portfolio

88.8% of MPT now Premium or A Grade[ 1] > 87.3% of FY12 rent review contracts fixed or CPI > Modern portfolio with 58.8% of portfolio under 5 years old

MPT has the 3rd largest A-REIT office portfolio[ 2]

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MPT office portfolio weighted to key rental growth markets JLL Forecast prime face rental growth
2011 to 2013 CAGR [ 3]
Sydney 66%
Melbourne 14% 9.2%
Brisbane 7%
Canberra 12%
Adelaide 1% 6.6%
3.3% 3.5%
-1.9%
Sydney Melbourne Brisbane Canberra Adelaide
1) By book value, excluding assets under development. Source: JLL
2) By 31 December 2010 book values compared to benchmarked peers.
3) JLL forecast prime CBD face rental growth.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 15
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PORTFOLIO HIGHLIGHTS – RETAIL

Non-discretionary focused assets proving resilient

Strong FY11 like-for-like NOI growth of 4.3%

Increased occupancy to 99.0%[1] from 97.9%[1] (FY10)

• Sustainable occupancy cost of 13.2%[2]

• 1.1%[3] net valuation uplift for FY11

• 84.7% of retail portfolio weighted to centres driven by non discretionary spend[4]

• Low arrears rate at 0.1%[5]

Comparable total MAT growth of 2.0%

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Retail category by annualised base rent [6]
Food mini majors 3%
Food majors 15%
Food retail 7%
Food catering 12%
Non food majors 11%
Non food mini majors 6%
Retail services 7%
Apparel 19%
Other 20%
Food based
retailers = 37%
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• 1) By area, excluding assets under development.

2) Specialty occupancy cost excludes CBD centres. Including CBD centres 14.1%.

3) Net gain on fair value of investment properties divided by closing fair value at 30 June 2011. 4) Sub regional and neighbourhood centres.

5) Aged trade receivables as a proportion of gross monthly billings. 6) Includes turnover rent but excludes outgoings and marketing levy. RESULTS BY MIRVAC 23 AUGUST 2011

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PAGE 16
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LINKING MPT AND DEVELOPMENT

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Mirvac’s two core divisions have a Mirvac’s history as a
strong relationship commercial developer
345 George St, Egis Tower, 45 Clarence St, 40 Miller St,
Sydney Chatswood Sydney North Sydney
INVESTMENT — MPT DEVELOPMENT NLA: 21,191 sqm NLA: 15,180 sqm NLA: 32,200 sqm NLA: 12,665 sqm
MPT receives Mirvac’s integrated
benefits of development model
development and expertise is
and redevelopment leveraged to provide a high quality 1988 1989 1992 2000
Bay Centre, 1 Darling 5 Rider Blvd, 101 Miller St,
pipeline of organic Pyrmont Island, Pyrmont Rhodes North Sydney [ 2]
growth to MPT NLA: 15,972 sqm NLA: 22,197 sqm NLA: 25,073 sqm NLA: 37,510 sqm
2002 2006 2008
STRATEGIC EXTERNAL PARTNERS 10-20 Bond St, Sydney [ 2] Hoxton Distribution Park, Sydney 8 Chifley Square, Sydney Old Treasury, Perth
Part share sell down of projects to external parties delivers NLA: 38,400 sqm NLA: 132,587 sqm NLA: 19,122 sqm NLA: 28,758 sqm
profit to the Development Division — releasing capital back
into the business
$1.4bn commercial development pipeline [ 1]
2011 2012 2013 2015
1) Mirvac’s share of total project cost to complete post 30 June 2011 excluding land.
2) Redeveloped by Mirvac.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 17
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DEVELOPMENT — FY11 ACTIVITY

Development Division on track for 2014

Target Achievement 1,700 residential lots to settle Delivered 1,724 lots Improve gross margin Increased to 14.2% (FY10: 11.4%)[ 1] Improve residential development EBIT Achieved a 46.8% increase on FY10 Englobo non-core sales program On target - proceeds to date of $129.3m[ 2] Restock pipeline Acquired 2,788 lots: — 43.5% Apartments — 56.5% Land Expanded residential brand to mid price point > 80% of FY11 acquisitions targeted at or below medium market price point > 72.2% of exchanged pre-sales contracts have an average sales price of < $1.0m Commercial development activity > Hoxton Park land sale delivers profit contribution > 50% sale of 8 Chifley Square office development[ 3] 1) For further detail see page 34 of Additional Information. 2) Includes Magenta Shores which settled 12 August 2011. 3) Contracts executed 28 July 2011. RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 18

DEVELOPMENT DIVISION – FY12 OUTLOOK

Pre-sales delivers forward visibility and de-risking

• Strong position of $980.3m[ 1] in exchanged pre-sales contracts, a 22.2% increase over FY10

• 55.8% of forecast FY12 development revenue secured by exchanged pre-sales contracts

FY12 major development EBIT contributors

FY12 % FY12 EBIT Revenue Project Mirvac’s interest State Type lots forecast % presold Core projects Waverley Park 100% VIC Land 125 7.9% 96.8% MWRDP Rhodes Waterside 20% NSW Apartment 221 8.2% 87.5% Laureate, Melbourne 100% VIC Land 16 4.9% 68.8% MWRDP Harcrest 20% VIC Land 196 4.9% 56.1% Middleton Grange 100% NSW Land 180 4.1% 12.0% Commercial projects Hoxton Park Distribution Centre 100% NSW Industrial — 19.3% 0.0% Impaired projects Endeavour House 100% NSW Land 109 15.5% 100.0% Total 847 64.7% 55.8% 1) Total exchanged pre-sales contracts as at 30 June 2011, adjusted for Mirvac’s share of JV, associates and Mirvac’s managed funds.

• RESULTS BY MIRVAC 23 AUGUST 2011

PAGE 19

RESIDENTIAL DEVELOPMENT – STRATEGIC POSITIONING

Expanding Mirvac’s brand into mid price point delivers a larger purchaser base

At least 50% of government planning targets are for infill developments

Average price of Mirvac’s apartments[ 1]

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100%
80%
60%
40%
20%
0
FY11 FY12 FY13 FY14
> $3.0m
$1.0m – $3.0m
< $1.0m
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Mirvac’s 39 years of experience in apartments captures structural change

Medium density dwellings as a share of total dwelling commencements

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40%
35%
30%
25%
20%
15%
83 87 91 95 99 03 07 11
Source: ABS and Mirvac
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1) Based on forecast future lot settlements and associated gross revenue. RESULTS BY MIRVAC 23 AUGUST 2011

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PAGE 20
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DEVELOPMENT PIPELINE DELIVERS DIVERSIFICATION AND VISABILITY

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Profit recognition profile [ 1]
FY12 FY13 FY14 FY15 FY16
Project Stage Ownership Project status key
Settlements have commenced Under construction Active
Marketing Planning Under negotiation
Commercial projects Currently marketing part share sell down of commercial projects
Hoxton Park Distribution
Centre, Hoxton Park, NSW 100%
Various projects N/A
8 Chifley Square Sydney, NSW 50%
Old Treasury Building, WA 100%
664 Collins Street, VIC 100%
Residential projects – Apartments
Rhodes Waterside, NSW Elinya, Water’s Edge 20% 221 lots
Waterfront, QLD Park Precinct 100% 102 lots
Yarra’s Edge, VIC Yarra Point 100% 201 lots
Chatswood, NSW Chatswood, Era 100% 295 lots
Townsville, QLD Mariner’s Peninsula 100% 71 lots
Rhodes Waterside, NSW Pinnacle 20% 231 lots
Harold Park, NSW Precinct 1 & 2 100% 460 lots
Hamilton, QLD Stages 1 to 3 100% 582 lots
Yarra’s Edge, VIC Towers 6, 7 and 9 100% 306 lots
Residential projects – Land
Endeavour House, NSW All stages 100% 109 lots
Yarra’s Edge, VIC River Homes (stage 3 & 4) 100% 35 lots
Middleton Grange, NSW All stages 100% 358 lots
Jane Brook, WA All stages 100% 204 lots
Gainsborough Greens, QLD Precincts 1 to 6 100% 1,184 lots
Waverley Park, VIC All stages 100% 478 lots
Harcrest, VIC All stages 20% 796 lots
Elizabeth Hills, NSW All stages PDA 652 lots
Eastern Golf Club, VIC [ 2] All stages 100% 267 lots
Rockbank, VIC Stage 1 50% 568 lots
1) Project lot settlements over EBIT contributing period.
2) Contract is subject to vendor being granted planning approval on their future site.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 21
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RETURN TO NORMALISED PERFORMANCE BY 2014

“On strategy” projects and new acquisitions will deliver improved performance

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Profile of margin segments
$1.4bn
$1.2 Average Margin 18-22% Harold Park
Hamilton
$1.0 Yarra Towers
Chatswood, ERA Average Margin 15%-20%
$0.8 Jane Brook Forecast
Gainsborough Greens
$0.6 Yarra’s Edge River Homes Laureate inventory
$0.4 Average Margin <5% Waverley Park balance
Bridgewater, Brendale
$0.2 Tennyson Reach, The Royal
$0.0
Jun 11 Jun 12 Jun 13 Jun 14
Existing Provisioned New & fast tracked
Continued acquisition strategy in FY11
Forecast Settlements
State Lots # revenue ($m) Type from
NSW Middleton Grange 474 [ 1] 135.4 Land FY11
NSW Hoxton Park Residential 223 84.9 Land FY13
NSW Harold Park 1,213 1,098.0 Apartments FY14
NSW New Brighton Golf Course 257 104.8 Land FY14
VIC Eastern Golf Club [ 2] 621 401.0 Land FY15
WA Old Treasury Building n/a 315.0 Commercial FY15
Total 2,788 2,139.1
1) Of lots acquired, 116 settled during FY11.
2) Contract is subject to vendor being granted planning approval on their future site.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 22
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DEVELOPMENT DRIVERS TO 2014

Execution forecast to deliver increased ROIC by 2014

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FY11 FY12 FY13 FY14
Acquisitions:> Harold Park, NSW Acquisitions of “on strategy” Fast track projects due for completion 10-12%
> Eastern Golf projects > Park Precinct
Course, VIC Non-core asset sales: > Yarra Point, Yarra’s Waterfront, QLD ROIC [ 1]
Englobo non-core Magenta Shores Edge, VIC
sales: The Royal, Newcastle
> Dianella, WA Englobo non-core
> Tennyson Reach Pre-sales released sales completed
(Stages 3 to 5), QLD for various projects
including Harold Park Under construction:
20% of FY14 EBIT Precinct 1 > Harold Park, NSW
de-risked through > ERA, NSW
exchanged pre-sales
contracts
1) Excludes future acquisitions.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 23
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SUMMARY AND GUIDANCE

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ARTIST IMPRESSION OF HAROLD PARK, NSW
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RESULTS BY MIRVAC 23 AUGUST 2011
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SUMMARY

Overweight office position is delivering results High quality MPT portfolio provides stable performance Development Division leverages commercial expertise Strong pre-sales de-risk future earnings Residential brand expansion captures apartment demand Robust capital position

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Defensive
Active
core upside Delivers across business cycles
$5.9bn 1 $1.9bn 2
1) By book value, including assets under development and indirect investments.
2) Development Division total inventory, investments and loans in associated JVs.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 25
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GUIDANCE

~~Guidance FY12~~ – Forecast Group operating profts $360 $363m[ 1] – Forecast operating EPS 10.5 10.6cpss[ 1] – Forecast DPS 8.2 8.4cpss Forecast weighted average securities 3,427m

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1) Subject to change based on strategic review of hotel division.
RESULTS BY MIRVAC 23 AUGUST 2011 PAGE 26
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DISCLAIMER AND IMPORTANT NOTICE

Mirvac Group comprises Mirvac Limited ABN 92 003 280 699 and Mirvac Property Trust ARSN 086 780 645. This presentation (“Presentation”) has been prepared by Mirvac Limited and Mirvac Funds Limited (ABN 70 002 561 640, AFSL number 233121) as the responsible entity of Mirvac Property Trust (collectively “Mirvac” or “the Group”). Mirvac Limited is the issuer of Mirvac Limited ordinary shares and Mirvac Funds Limited is the issuer of Mirvac Property Trust ordinary units, which are stapled together as Mirvac Group stapled securities. All dollar values are in Australian dollars (A$).

The information contained in this Presentation has been obtained from or based on sources believed by Mirvac to be reliable. To the maximum extent permitted by law, Mirvac, its affiliates, officers, employees, agents and advisors do not make any warranty, express or implied, as to the currency, accuracy, reliability or completeness of the information in this Presentation or that the information is suitable for your intended use and disclaim all responsibility and liability for the information (including, without limitation, liability for negligence).

This Presentation is not financial advice or a recommendation to acquire Mirvac stapled securities and has been prepared without taking into account the objectives,

Before making an investment decision prospective investors should consider the appropriateness of the information in this Presentation and the Group’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange having regard to their own objectives, financial situation and needs and seek such legal, financial and/or taxation advice as they deem necessary or appropriate to their jurisdiction.

To the extent that any general financial product advice in respect of the acquisition of Mirvac Property Trust units as a component of Mirvac stapled securities is provided in this Presentation, it is provided by Mirvac Funds Limited. Mirvac Funds Limited and its related bodies corporate, and their associates, will not receive any remuneration or benefits in connection with that advice. Directors and employees of Mirvac Funds Limited do not receive specific payments of commissions for the authorised services provided under its Australian Financial Services Licence. They do receive salaries and may also be entitled to receive bonuses, depending upon performance. Mirvac Funds Limited is a wholly owned subsidiary of Mirvac Limited.

This Presentation contains certain “forward looking” statements. The words “anticipated”, “expected”, “projections”, “forecast”, “estimates”, “could”, “may”, “target”, “consider” and “will” and other similar expressions are intended to identify forward looking statements. Forward looking statements, opinions and estimates provided in this Presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forwardlooking statements including projections, indications or guidance on future earnings or financial position and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no assurance that actual outcomes will not differ materially from these statements. To the full extent permitted by law, Mirvac Group and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions.

An investment in Mirvac stapled securities is subject to investment and other known and unknown risks, some of which are beyond the control of Mirvac, including possible delays in repayment and loss of income and principal invested. Mirvac does not guarantee any particular rate of return or the performance of Mirvac nor do they guarantee the repayment of capital from Mirvac or any particular tax treatment.

Past performance information given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current year amounts and other disclosures. This Presentation is not an offer or an invitation to acquire Mirvac stapled securities or any other financial products and is not a prospectus, product disclosure statement or other offering document under Australian law or any other law. It is for information purposes only.

RESULTS BY MIRVAC 23 AUGUST 2011

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HOXTON PARK DISTRIBUTION CENTRE, HOXTON PARK, NSW
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by mirvac

results

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by mirvac
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CONTENTS

MIRVAC GROUP DEVELOPMENT / CONTINUED 02 MIRVAC GROUP 35 DEVELOPMENT HISTORICAL INFORMATION (FY07–FY11) 36 PROVISIONS FINANCIAL RESULTS 37 OUR MARKETS 04 FY11 STATUTORY TO OPERATING NPAT RECONCILIATION 38 COMBINING HIGH + LOW DENSITY PROJECTS 05 FY10 STATUTORY TO OPERATING NPAT RECONCILIATION 39 MIRVAC’S PRE-SALES TRACK RECORD 06 FY11 OPERATING SEGMENT 40 RESIDENTIAL DEVELOPMENT HIGH DENSITY = APARTMENTS 07 FY10 OPERATING SEGMENT 41 RESIDENTIAL DEVELOPMENT LOW DENSITY = HOUSES AND LAND 08 FINANCE COSTS - NOTE 5 STATUTORY FINANCIAL STATEMENT 42 MIRVAC’S DEVELOPMENT BUSINESS 09 MPT OPERATING PROFIT 43 DEVELOPMENT RISK MANAGEMENT 10 FY11 CONTRIBUTIONS TO GROWTH 44 TREND TOWARDS MULTI-DWELLINGS 11 LIQUIDITY PROFILE 45 HYPOTHETICAL PROFIT MAKING DEVELOPMENT PROJECT – 12 DEBT AND HEDGING PROFILE TREATMENT OF CAPITALISED COSTS 46 HYPOTHETICAL PROVISIONED DEVELOPMENT PROJECT – INVESTMENT MPT TREATMENT OF CAPITALISED COSTS 14 COMMERCIAL MARKET OUTLOOK 15 SECTOR AND GEOGRAPHIC DIVERSIFICATION HOTEL MANAGEMENT 16 MPT PORTFOLIO SNAPSHOT 48 HOTEL MANAGEMENT UPDATE 17 TOP TEN TENANTS BY INCOME 49 HOTEL MANAGEMENT DEFINITIONS 18 MPT WEIGHTED AVERAGE CAP RATE 50 HOTEL MANAGEMENT BRAND PORTFOLIO 19 OFFICE SNAPSHOT 20 OFFICE METRICS CORPORATE RESPONSIBILITY AND SUSTAINABILITY 21 COMMERCIAL PROPERTY SPREAD 52 CORPORATE RESPONSIBILITY AND SUSTAINABILITY 22 RETAIL SNAPSHOT 53 HEALTH SAFETY AND WELLBEING 23 INDUSTRIAL SNAPSHOT 24 SCHEDULE OF DISPOSALS 1H12 CALENDAR 25 COMMERCIAL PIPELINE 54 1H12 CALENDAR DEVELOPMENT GLOSSARY 27 RESIDENTIAL MARKET OUTLOOK 55 GLOSSARY 28 DEVELOPMENT FY11 ACTIVITY DETAIL 29 DEVELOPMENT OUTLOOK DETAIL 30 GEOGRAPHIC DIVERSITY 31 DIVERSIFICATION OF RESIDENTIAL LOTS/REVENUE 32 FORECAST EBIT COMPOSITION 33 MIRVAC BUYER PROFILE 34 GROSS DEVELOPMENT MARGIN ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 1

MIRVAC GROUP

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HARCREST, WANTIRNA SOUTH, VIC
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ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011
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PAGE 2
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MIRVAC GROUP

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80% Operating NPAT through cycle target
OFFICE – 57.0% [ 2]
INVESTMENT – MPT
RETAIL – 30.2% [ 2 ]
Invested capital – $5,898m [ 1] OTHER – 12.8% [ 3]
20% Operating NPAT through cycle target
APARTMENTS – 50.7%
RESIDENTIAL
MASTERPLANNED COMMUNITIES – 32.8%
TARGET 80%
DEVELOPMEN T INTEGRATED HOUSING – 16.5%
Invested capita l –
INDUSTRIAL – 78.3%
$1,890m [ 4] COMMERCIAL
OFFICE – 21.0%
TARGET 20%
RETAIL – 0.7%
1) By book value, including assets under development and indirect investments.
2) By book value, excluding assets under development and indirect investments.
3) By book value, includes industrial, indirect investments, carparks and a hotel.
4) Development Division’s total inventories, investments and loans in associates and JVs.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 3
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FY11 STATUTORY TO OPERATING NPAT RECONCILIATION

	Investment	Hotel	Investment
Year ended 30 June 2011	MPT $m	Management $m	Management $m	Development $m	Unallocated $m	Elimination $m	Tax $m	Total $m
Proft/(loss) after tax before NCI	451.6	7.9	(9.8)	(262.2)	(98.5)	(10.0)	103.6	182.6
Less NCI	—	—	—	—	—	(0.3)	—	(0.3)
Proft/(loss) attributable to the stapled securityholders of Mirvac	451.6	7.9	(9.8)	(262.2)	(98.5)	(10.3)	103.6	182.3
Specifc non-cash items
Net (gain)/loss on fair value of investment properties and owner-occupied hotel management lots and freehold hotels	(119.5)	1.2	—	—	—	7.9	—	(110.4)
Net loss on fair value of investment properties under construction (“IPUC”)	58.6	—	—	—	—	—	—	58.6
Net (gain)/loss on fair value of derivative fnancial instruments and associated foreign exchange movements	(6.8)	0.2	0.4	—	(1.3)	—	—	(7.5)
Security based payment expense	—	—	—	—	6.2	—	—	6.2
Depreciation of owner-occupied investment properties, hotels and hotel management lots (including hotel property, plant and equipment)	—	1.7	—	0.5	—	5.9	—	8.1
Straight-lining of lease revenue	(16.4)	—	—	—	—	—	—	(16.4)
Amortisation of lease ftout incentives	12.2	—	—	—	—	(1.8)	—	10.4
Net gain on fair value of investment properties, derivatives and other specifc non-cash items included in share of net proft of associates	(8.3)	—	(1.8)	(0.1)	(0.4)	(0.4)	—	(11.0)
Net loss on fair value of investment properties, derivatives and other specifc non-cash items included in NCI	—	—	—	—	—	(0.4)	—	(0.4)
Signifcant items
Provision for loss on inventories	—	—	—	295.8	—	—	—	295.8
Net loss/(gain) on sale of non-aligned assets	1.2	—	(1.0)	—	—	—	—	0.2
Business combination transaction costs	16.8	—	—	—	15.0	—	—	31.8
Tax effect
Tax effect of non-cash and signifcant adjustments	—	—	—	—	—	—	(89.2)	(89.2)
Operating proft/(loss) (proft before specifc non-cash and signifcant items)	389.4	11.0	(12.2)	34.0	(79.0)	0.9	14.4	358.5
Segment contribution	108.6%	3.1%	(3.4%)	9.5%	(22.0%)	0.2%	4.0%	100.0%
Add back NCI	—	—	—	—	—	0.3	—	0.3
Add back tax	—	—	—	—	—	—	(14.4)	(14.4)
Add back interest paid	44.8	0.7	18.0	52.8	11.2	(1.3)	—	126.2
Less interest revenue	(27.7)	(0.2)	(0.4)	(0.1)	(6.6)	0.8	—	(34.2)
Operating proft – EBIT	406.5	11.5	5.4	86.7	(74.4)	0.7	—	436.4
Segment contribution	93.1%	2.6%	1.2%	19.9%	(17.0%)	0.2%	—	100.0%
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011								PAGE 4

FY10 STATUTORY TO OPERATING NPAT RECONCILIATION

	Investment	Hotel	Investment
Year ended 30 June 2010	MPT $m	Management $m	Management $m	Development $m	Unallocated $m	Elimination $m	Tax $m	Total $m
Proft/(loss) after tax before NCI	306.4	(10.8)	(0.1)	19.6	(81.6)	(3.9)	7.8	237.4
Less NCI	(1.4)	—	—	—	—	(1.3)	—	(2.7)
Proft/(loss) attributable to the stapled securityholders of Mirvac	305.0	(10.8)	(0.1)	19.6	(81.6)	(5.2)	7.8	234.7
Specifc non-cash items
Net (gain)/loss on fair value of investment properties and owner-occupied hotel management lots and freehold hotels	(8.0)	21.0	—	0.1	—	(6.2)	—	6.9
Net loss on fair value of IPUC	112.8	—	—	—	—	—	—	112.8
Net loss/(gain) on fair value of derivative fnancial instruments and associated foreign exchange movements	11.6	—	(3.7)	—	(24.1)	0.4	—	(15.8)
Security based payment expense	—	—	—	—	8.7	—	—	8.7
Depreciation of owner-occupied investment properties, hotels and hotel management (including hotel property, plant and equipment)	lots —	1.4	—	0.4	—	5.9	—	7.7
Straight lining of lease revenue	(2.5)	—	—	—	—	—	—	(2.5)
Amortisation of lease ftout incentives	12.0	—	—	—	—	(1.9)	—	10.1
Net loss/(gain) on fair value of investment properties, derivatives and other specifc non-cash items included in share of net loss of associates	20.4	—	9.5	(0.1)	—	3.5	—	33.3
Net gain from fair value of investment properties, derivatives and other specifc non-cash items included in NCI	—	—	—	—	—	1.1	—	1.1
Signifcant items
Impairment of investments including associates and joint ventures	—	—	6.0	0.2	—	—	—	6.2
Impairment of loans	—	—	(11.7)	—	17.1	—	—	5.4
Net (gain)/loss on sale of non-aligned assets	(0.5)	—	(8.9)	(0.1)	—	0.5	—	(9.0)
Discount on business combination	(119.8)	—	—	—	—	—	—	(119.8)
Net (gain)/loss on re-measurement of equity interest	(25.3)	—	1.1	—	—	(6.7)	—	(30.9)
Business combination transaction costs	19.4	—	—	—	—	—	—	19.4
Tax effect
Tax effect of non-cash and signifcant adjustments	—	—	—	—	—	—	7.0	7.0
Operating proft/(loss) (proft before specifc non-cash and signifcant items)	325.1	11.6	(7.8)	20.1	(79.9)	(8.6)	14.8	275.3
Segment contribution	118.0%	4.2%	(2.8%)	7.3%	(29.0%)	(3.1%)	5.4%	100.0%
Add back NCI	1.4	—	—	—	—	1.3	—	2.7
Add back tax	—	—	—	—	—	—	(14.8)	(14.8)
Add back interest paid	(7.7)	—	17.4	32.3	14.9	1.9	—	58.8
Less interest revenue	(19.9)	(0.2)	(0.4)	(1.1)	(8.6)	1.2	—	(29.0)
Operating proft — EBIT	298.9	11.4	9.2	51.3	(73.6)	(4.2)	—	293.0
Segment contribution	102.0%	3.9%	3.1%	17.5%	(25.1%)	(1.4%)	—	100.0%

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 5

FY11 OPERATING SEGMENT

	Investment	Hotel	Investment
Year ended June 2011	MPT $m	Management $m	Management $m	Development $m	Unallocated $m	Elimination $m	Totals $m
Revenue
Investment properties rental revenue	528.1	—	4.6	—	—	(3.4)	529.3
Hotel operating revenue	—	159.7	—	—	—	(0.2)	159.5
Investment management fee revenue	—	—	19.9	—	—	(1.7)	18.2
Development and construction revenue	—	—	—	955.1	—	3.0	958.1
Development management fee revenue	—	—	—	23.6	—	(0.7)	22.9
Interest revenue	27.7	0.2	4.7	6.5	6.6	(0.4)	45.3
Dividend and distribution revenue	0.7	—	—	—	—	(0.4)	0.3
Other revenue	2.7	0.8	3.6	11.6	3.2	(2.7)	19.2
Inter-segment sales1	51.8	0.2	16.0	57.6	0.3	(125.9)	—
Total revenue from continuing operations	611.0	160.9	48.8	1,054.4	10.1	(132.4)	1,752.8
Share of net proft/(loss) of associates and joint ventures accounted for using the equity method	25.5	—	2.3	3.0	0.2	(0.7)	30.3
Netgain/(loss)on sale of investments	—	—	3.1	—	(1.6)	—	1.5
Total other income	25.5	—	5.4	3.0	(1.4)	(0.7)	31.8
Total revenue from continuing operations and other income	636.5	160.9	54.2	1,057.4	8.7	(133.1)	1,784.6
Net loss on sale of property, plant and equipment	—	0.7	—	—	0.3	—	1.0
Investment properties expenses	133.4	—	3.3	—	—	(12.2)	124.5
Hotel operating expenses	—	50.0	—	0.8	—	(2.0)	48.8
Cost of property development and construction	—	—	—	902.0	—	(55.4)	846.6
Employee benefts expenses	—	76.8	22.6	18.7	47.9	1.0	167.0
Depreciation and amortisation expenses	5.1	3.1	0.2	2.3	2.0	—	12.7
Impairment of loans	—	—	7.8	—	—	—	7.8
Finance costs	96.6	0.7	18.0	52.8	11.2	(53.1)	126.2
Selling and marketing expenses	—	10.1	0.9	25.1	0.4	—	36.5
Other expenses	12.0	8.5	13.6	21.7	25.9	(13.0)	68.7
Proft/(loss) before income tax	389.4	11.0	(12.2)	34.0	(79.0)	1.6	344.8
Income tax beneft							14.4
Proft/(loss) for theyear	389.4	11.0	(12.2)	34.0	(79.0)	1.6	359.2
Proft attributable to NCI	—	—	—	—	—	(0.7)	(0.7)
Proft/(loss) attributable to the stapled securityholders of Mirvac 2	389.4	11.0	(12.2)	34.0	(79.0)	0.9	358.5

1) Includes internal interest revenue. 2) Operating profit (profit before specific non-cash and significant items).

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

PAGE 6

FY10 OPERATING SEGMENT

	Investment	Hotel	Investment
Year ended June 2010	MPT $m	Management $m	Management $m	Development $m	Unallocated $m	Elimination $m	Totals $m
Revenue
Investment properties rental revenue	400.2	—	7.0	1.0	—	(5.0)	403.2
Hotel operating revenue	—	146.9	—	—	—	(0.1)	146.8
Investment management fee revenue	—	—	37.8	—	—	(7.0)	30.8
Development and construction revenue	—	—	—	861.5	—	0.7	862.2
Development management fee revenue	—	—	—	32.2	—	(1.1)	31.1
Interest revenue	19.9	0.2	5.8	7.1	8.6	(1.2)	40.4
Dividend and distribution revenue	1.0	—	—	—	—	(0.5)	0.5
Other revenue	2.2	0.8	3.7	4.0	2.8	(1.7)	11.8
Inter-segment sales1	56.7	0.2	10.6	34.4	(2.2)	(99.7)	—
Total revenue from continuing operations	480.0	148.1	64.9	940.2	9.2	(115.6)	1,526.8
Share of net proft/(loss) of associates and joint ventures accounted for using the equity method	21.9	—	0.4	15.8	0.1	(3.0)	35.2
Netgain on sale of investments	—	—	1.4	—	—	—	1.4
Total other income	21.9	—	1.8	15.8	0.1	(3.0)	36.6
Total revenue from continuing operations and other income	501.9	148.1	66.7	956.0	9.3	(118.6)	1,563.4
Net loss on sale of investment properties	0.1	—	—	0.1	—	—	0.2
Net loss on sale of property, plant and equipment	—	—	0.3	0.8	—	—	1.1
Investment properties expenses	112.1	—	—	—	—	(9.9)	102.2
Hotel operating expenses	—	47.5	—	0.8	—	(2.0)	46.3
Cost of property development and construction	—	—	—	822.9	—	(33.2)	789.7
Employee benefts expenses	—	70.6	33.3	30.7	46.8	0.6	182.0
Depreciation and amortisation expenses	6.4	3.6	0.6	2.8	2.5	—	15.9
Impairment of loans	—	—	0.2	—	—	—	0.2
Finance costs	48.2	—	17.4	32.3	14.9	(54.0)	58.8
Selling and marketing expenses	—	8.6	0.8	13.9	0.6	—	23.9
Other expenses	8.6	6.2	21.9	31.6	24.4	(11.7)	81.0
Proft/(loss) before income tax	326.5	11.6	(7.8)	20.1	(79.9)	(8.4)	262.1
Income tax beneft							14.8
Proft for theyear	326.5	11.6	(7.8)	20.1	(79.9)	(8.4)	276.9
Proft attributable to NCI	(1.4)	—	—	—	—	(0.2)	(1.6)
Proft attributable to the stapled securityholders of Mirvac 2	325.1	11.6	(7.8)	20.1	(79.9)	(8.6)	275.3

1) Includes internal interest revenue. 2) Operating profit (profit before specific non-cash and significant items). ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 7

FINANCE COSTS – NOTE 5 STATUTORY FINANCIAL STATEMENT

	~~FY11 $~~ ~~FY10 $~~
	~~(m)~~ ~~(m)~~ Interest and fnance charges paid/payable net ofprovision release 169.5 110.8
	Amount capitalised (88.7) (80.6)
	Interest capitalised in current and prior periods expensed in thisperiod net ofprovision release 39.8 25.9
	Borrowingcosts amortised 5.6 2.7
	Total fnance costs 126.2 58.8

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

PAGE 8

MPT OPERATING PROFIT

	~~Dtild bkd f MPT ti EBIT~~ ~~FY11 $~~ ~~FY10 $~~
	~~eae reaown o operang~~ ~~(m)~~ ~~(m)~~ Net property income 1 Offce 224.5 126.0 Retail 125.9 120.6 Industrial 30.5 26.6 Hotels 1.9 2.1 Carparks 6.8 6.4
	Total netproperty income 389.6 281.7
	Investment income 2 26.2 22.9
	Other income Other income 2.7 2.9
	2.7 2.9
	Overheads (12.0) (8.6)
	Total MPT operating EBIT 406.5 298.9

1) Excluding straightline of lease revenue and amortisation of lease fitout incentives. 2) Includes income from indirect property investments. ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

PAGE 9

FY11 CONTRIBUTIONS TO GROWTH

FY10 to FY11 segmented operating EBIT growth

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$35.4m ($0.8m) $4.9m $436.4m
$107.6m $0.1m ($3.8m)
$293.0m
FY10 Investment Hotel Investment Development Unallocated Elimination FY11
Management Management
FY10 to FY11 segmented operating NPAT growth
$64.3m ($0.6m) ($4.4m) $13.9m $0.9m $9.5m ($0.4m) $358.5m
$275.3m
FY10 Investment Hotel Investment Development Unallocated Elimination Tax FY11
Management Management
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 10
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LIQUIDITY PROFILE

	~~A t 30 J 2011~~ ~~Filit liit $~~ ~~D t $~~ ~~Ailbl liidit $~~
	~~s a une~~ ~~acy ms (m)~~ ~~rawn amoun (m)~~ ~~vaae quy (m)~~ Non recourse fund debt $28.0 $28.0 $0.0
	CMBS $505.0 $505.0 $0.0
	Bank facilities $47.5 $47.5 $0.0
	Facilities rolling post June 2012 $2,818.0 $2,297.9 $520.1
	Total $3,398.5 $2,878.4 $520.1
	Cash on hand 30 June 2011 $673.1
	Total liquidity 30 June 2011 $1,193.2
	Less facilities maturing< 12 months ($580.5)
	Funding headroom $612.7

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

PAGE 11

DEBT AND HEDGING PROFILE

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Hedging and fixed interest profile FY11 Debt sources [ 1]
2,000 $m SYNDICATED LOAN & BANK FACILITIES 59.3%
MTN 17.9%
USPP 21.6%
6.29% OTHER 1.2%
1,500
6.06%
5.80% 5.86% 5.93%
1,000 5.71% 5.74% 5.74%
500
0
30 Jun 11 30 Jun 12 30 Jun 13 30 Jun 14 30 Jun 15 30 Jun 16 30 Jun 17 30 Jun 18
Fixed Options Swaps Rate
1) Excludes WOP associated CMBS which is fully cash collateralised.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 12
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INVESTMENT – MPT
10-20 BOND STREET, SYDNEY, NSW
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 13
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COMMERCIAL MARKET OUTLOOK

Weighting Management The improvement in the labour market and white collar employment in particular has increased the forecast demand for office space. The vacancy rate for office space has fallen, albeit erratically, since the middle 57.0%[ 1] of 2009, with the preference towards prime office space. Notwithstanding a likely moderation in labour demand over the ensuing six months, the low level of construction should underpin a further decline in vacancy rates. Retail Weighting Management The outlook for the retail sector remains mixed. The possibility of higher interest rates and a recent forecast softening in employment growth, together with an increase in the saving ratio has constrained consumer 30.2%[ 1] spending. The saving ratio will, at some stage, stop increasing, while personal income should continue to grow; all of which should stimulate spending. Against this back drop, there is expected to be little change in the average vacancy rate in the retail sector over the next six months. Industrial Weighting Management Conditions in the Australian industrial market have weakened recently but are expected to begin a gradual forecast recovery going forward. Consequently, national industrial vacancy rates are expected to tighten over the 6.4%[ 1] next six months. 1) By book value, excluding assets under development and indirect investments. ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 14

SECTOR AND GEOGRAPHIC DIVERSIFICATION

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Sector diversification [ 1]
4.7%
LPT/Unlisted funds 3.9%
Other — Hotel, 1.7%
carparks 1.5%
30.2%
Retail 30.8%
6.4%
Industrial 7.2%
57.0% FY11
Office 56.6% FY10
0% 10% 20% 30% 40% 50% 60%
Geographic diversification [ 2]
0.5%
USA 0.6%
0.3%
SA 0.3%
8.3%
ACT 8.0%
14.0%
QLD 14.9%
15.5%
VIC 14.8%
61.4% FY11
NSW 61.4% FY10
0% 10% 20% 30% 40% 50% 60% 70%
1) By book value, excluding assets under development.
2) By book value, excluding assets under development and indirect property investments.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 15
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MPT PORTFOLIO SNAPSHOT

~~FY11~~ ~~FY10~~ Properties owned1 68 77 NLA 1,308,850 sqm 1,488,924 sqm Book Value2 $5,898.0m $5,787.7m WACR 7.55% 7.74% Netpropertyincome $389.6m $281.7m Like for like NOIgrowth 4.1% 3.7% Maintenance capex $22.9m $17.2m Cash tenant incentives $9.6m $8.9m Occupancy3 98.1% 97.6% NLA leased 108,709 sqm 171,582 sqm % ofportfolio NLA leased 8.3% 13.1%4 No. tenant reviews 1,824 1,521 Tenant rent reviews(area) 985,467 sqm 841,494 sqm WALE(area) 3 6.2yrs 6.1yrs WALE(income) 5 6.3yrs 6.1yrs	60% MPT — lease expiry profile by area
	50 52%
	40
	30
	20
	10 7% 9% 11% 8% 11%
	0 2%
	VACANT FY12 FY13 FY14 FY15 BEYOND FY16

1) Includes carparks and a hotel. 2) Including assets under development and indirect investments. 3) By area, excluding assets under development. 4) Excludes NLA relating to the WOP acquisition. 5) By income, excluding assets under development. ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

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PAGE 16
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TOP TEN TENANTS BY INCOME

~~Rank Tenant~~ ~~Percentage 1 S&Prating~~ 1 Westpac — St George 21.4% AA 2 Government 16.8% AAA 3 Woolworths 7.6% A- 4 Fairfax Media Limited 4.0% BB+ 5 IBM Australia Limited 3.5% A+ 6 GM Holden Limited 2.6% BB- 7 United GroupLimited 2.5% None 8 Alcatel — Lucent Australia Limited 1.9% B 9 Genworth Financial Mortgage Insurance 1.5% AA- 10 Insurance Australia Limited 1.2% AA- Total Top 10 Tenants 63.0% 3 Offce

~~Rank Tenant~~ ~~Percentage 2 S&Prating~~ 1 Wesfarmers — Coles 12.4% A- 2 Woolworths 11.6% A- 3 The Reject Shop 1.2% None 4 Sussan Group 1.1% None 5 Government 1.1% AAA 6 Just Group 1.0% None 7 TerryWhite Chemist 1.0% None 8 SpecialtyFashion Group 1.0% None 9 Westpac — St George 1.0% AA 10 Commonwealth Bank Australia 0.9% AA Total Top 10 Tenants 32.3% Retail

1) Percentage of gross office portfolio income. 2) Percentage of gross retail portfolio income. 3) Excludes Mirvac tenancy. ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 17

MPT WEIGHTED AVERAGE CAP RATE

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9%
8 7.88% 7.74%
7.55% 7.56% [1] 7.55% [ 1]
7 7.01%
6.55%
6
5
4
3
2
1
0
Jun 08 Dec 08 Jun 09 Dec 09 Jun 10 Dec 10 Jun 11
1) Excludes 10–20 Bond Street, Sydney, NSW.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 18
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OFFICE SNAPSHOT

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FY11 FY10 Office lease expiry profile by area
Properties owned 28 31 60%
55%
NLA 596,392 sqm 655,077 sqm 50
Book value $3,226.4m $3,252.1m
40
WACR 7.49% 7.64%
Net property income $224.5m $126.0m 30
Like for Like NOI Growth 4.2% 4.0%
20
Maintenance capex $9.1m $8.5m 14%
Cash tenant incentives $3.4m $4.3m 10 7% 9% 7%
6%
Occupancy [ 1] 97.8% 97.5% 0 2%
NLA leased 41,516 sqm [2] 53,814 sqm VACANT FY12 FY13 FY14 FY15 FY16 BEYOND
% of portfolio NLA leased 7.0% [2] 11.2% [ 3]
No. tenant reviews 532 327
OFFICE-DIVERSIFICATION
Tenant rent reviews (area) 539,430 sqm 312,176 sqm BY GRADE [ 5]
WALE (area) [1] 6.3yrs 7.0yrs PREMIUM GRADE 28.4%
A GRADE 60.4%
WALE (income) [4] 6.2yrs 7.1yrs B GRADE 10.5%
C GRADE 0.7%
1) By area, excluding assets under development.
2) By area, including signed leases at 10-20 Bond Street (based on 50% ownership).
3) Excludes NLA relating to the WOP acquisition.
4) By income, excluding assets under development.
5) By book value as at 30 June 2011. Excludes development assets and indirect property investments.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 19
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OFFICE METRICS

Book value June 2011 Occupancy 1 Average passing No of assets $m June 2011 gross rent $ per sqm NSW 13 2,138.2 99.1% 558.1 North Sydney 2 263.0 99.3% 659.1 Sydney Fringe 2 286.0 100.0% 556.4 Sydney CBD 5 1,042.6 98.3% 710.5 Homebush/Rhodes 2 194.0 99.0% 377.1 Parramatta 1 102.6 100.0% 305.3 Norwest 1 250.0 100.0% 319.6 VIC 4 443.0 98.5% 416.2 Melbourne CBD 1 150.0 94.9% 468.2 St Kilda Road 1 107.0 100.0% 398.1 East Melbourne 2 186.0 99.8% 394.1 QLD 5 222.5 88.9% 403.7 Brisbane CBD 1 57.0 71.0% 422.9 Brisbane ‘Near City’ 4 165.5 95.4% 396.6 ACT 5 404.9 97.0% 414.3 Canberra 5 404.9 97.0% 414.3 SA 1 17.8 100.0% 340.6 Adelaide Fringe 1 17.8 100.0% 340.6 Total 28 3,226.4 97.8% 498.0

1) By area, excluding assets under development.

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

PAGE 20

COMMERCIAL PROPERTY SPREAD

The spread between office cap rates and 5yr bonds is 286 basis points; 163 basis points above the long run average. This indicates the prospect for cap rate compression in the Australian office sector.

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9.50%
8.00%
6.50%
5.00%
3.50%
Current spreads
2.00% 286bps
0.50%
-1.00%
Average prime office cap rate Cap rate to bond rate spread 5 year government bond rate
Long term average spread (123 bps) CPI
Source: JLL, IRESS, ABS and Macquarie Research
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 21
30/06/2000 31/03/2001 31/12/2001 30/09/2002 30/06/2003 31/03/2004 31/12/2004 30/09/2006 30/03/2007 31/03/2010 31/12/2007 30/09/2008 30/06/2009 31/03/2010 31/12/2010
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RETAIL SNAPSHOT

		~~FY11~~	~~FY10~~
	Properties owned	22	25
	NLA	452,201 sqm	523,250 sqm
	Book value	$1,708.3m	$1,768.2m
	WACR	7.41%	7.52%
	Netpropertyincome	$125.9m	$120.6m
	Like for like NOIgrowth	4.3%	5.2%
	Maintenance capex	$9.9m	$7.1m
	Cash tenant incentives	$5.1m	$4.4m
	Occupancy1	99.0%	97.9%
	NLA leased	49,286 sqm	73,653 sqm
	% ofportfolio NLA leased	10.9%	14.1%
	No. tenant reviews Tenant rent reviews(area)	1,259 243,830 sqm	1,153 288,332 sqm
	WALE(area)1	6.1yrs	5.9yrs
	WALE(income)2	4.6yrs	4.8yrs
	Specialty occupancy cost
	excludingCBD retail	13.2%	13.1%
	Specialtyoccupancycost	14.1%	14.0%
	Total MAT excludingbulky goods centres	$2,529.0m	$2,446.8m
	Total comparable MATgrowth	2.0%	2.1%
	Specialitycomparable MATgrowth	0.9%	(0.4%)
	1) By area, excluding assets under development.

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Retail lease expiry profile by area
50%
47%
40
30
20
10 9% 10% 10% 11% 12%
0 1%
VACANT FY12 FY13 FY14 FY15 FY16 BEYOND
Retail-diversification by grade [ 3]
Sub regional 77.6%
CBD retail 9.2%
Neighbourhood 7.1%
Bulky goods centre 6.1%
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2) By income, excluding assets under development.

3) By book value as at 30 June 2011. Excludes development assets and indirect property investments.

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

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PAGE 22
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INDUSTRIAL SNAPSHOT

~~FY11~~ ~~FY10~~ Properties owned 14 17 NLA 259,859 sqm 310,596 sqm Book value $363.7m $412.8m WACR 8.43% 8.52% Netpropertyincome $30.5m $26.6m Like for like NOIgrowth 2.7% 0.3% Maintenance capex $1.6m $1.6m Cash tenant incentives $1.1m $0.2m Occupancy1 97.2% 97.0% NLA leased 17,907 sqm 44,115 sqm % ofportfolio NLA leased 6.9% 14.7%3 No. tenant reviews 33 41 Tenant rent reviews(area) 202,207 sqm 240,986 sqm WALE(area) 1 5.9yrs 4.8yrs WALE(income) 2 5.8yrs 5.2yrs	60% Industrial lease expiry profile by area
	50 51%
	40
	30
	20 21%
	10 8% 10%
	0 3% 2% 5%
	VACANT FY12 FY13 FY14 FY15 BEYOND FY16

1) By area, excluding assets under development. 2) By income, excluding assets under development. 3) Excludes NLA relating to the WOP acquisition.

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ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 23
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SCHEDULE OF DISPOSALS

FY11 disposals

					~~Previous~~	~~Gross~~	~~Proceeds~~	~~Actual~~
					book value	sale price	above book	settlement
	~~Property~~	~~State~~	~~Type~~	~~Status~~	~~$m~~	~~$m~~	~~value $m~~	~~date~~
	253 Wellington Road, Mulgrave	VIC	Industrial	Settled	$4.5m	$4.7m	$0.2m	Jul 10
	James Ruse Business Park, Northmead	NSW	Industrial	Settled	$28.2m	$28.2m	$0.0m	Jul 10
	Hawdon Industry Park, Dandenong	VIC	Industrial	Settled	$13.3m	$13.3m	$0.0m	Aug 10
	Morayfeld Supacentre, Morayfeld	QLD	Retail	Settled	$37.5m	$38.5m	$1.0m	Aug 10
	Orion Hardware Land, Springfeld	QLD	Retail	Settled	$4.4m	$4.5m	$0.1m	Aug 10
	Blacktown Mega Centre, Blacktown	NSW	Retail	Settled	$26.1m	$26.3m	$0.2m	Dec 10
	Network, Old Wallgrove Road, Eastern Creek	NSW	Industrial	Settled	$6.5m	$6.0m	($0.5m)	Dec 10
	Lake Haven Megacentre, Lake Haven	NSW	Retail	Settled	$27.8m	$28.5m	$0.7m	Feb 11
	12 Cribb Street,Milton	QLD	Offce	Settled	$12.7m	$13.3m	$0.6m	May11
	Total FY11 disposals				$161.0m	$163.3m	$2.3m
	Post FY11 disposals
								~~Exchange date~~
	Ballina Central, Ballina	NSW	Retail	Exchanged1	$28.0m	$29.0m	$1.0m	Jul 11
	Peninsula Lifestyle,Mornington	VIC	Retail	Exchanged2	$44.0m	$44.5m	$0.5m	Jul 11
	Totalpost FY11 disposals				$72.0m	$73.5m	$1.5m
	Total disposals				$233.0m	$236.8m	$3.8m
	1) Conditional contract for sale exchanged post 30 June	2011.
	2) Unconditional contract for sale exchanged post 30 June 2011.
	ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011							PAGE 24

COMMERCIAL DEVELOPMENT PIPELINE

$1.4bn commercial development pipeline to be undertaken in-house by Mirvac Development

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Active Project Type Status FY11 FY12 FY13 FY14 FY15 FY16+
10-20 Bond Street [ 1] , Sydney, NSW 81.0% 32.6% $2m [ 3] , 7.8% [ 4]
✔ (50% with IOF [2] ) Office preleased Preleased Feb 10 to Jul 11
Nexus Industry Park (Building 4) 100% $10m [ 3] , 8.2% [ 4]
✔ Prestons, NSW (100%) Industrial preleased Nov 10 to Oct 11
Hoxton Distribution Park 100% $34m [ 3] , 8.1% [ 4]
✔ NSW (100%) Industrial preleased Jul 10 to Mar 12
8 Chifley Square Redevelopment $115m [ 3] , 7.4% [ 4]
✔ Sydney, NSW (50% with K-REIT) Office commenced Sep 10 to Jul 13
Stanhope Village $21m [ 3]
Stanhope Gardens, NSW (100%) Retail Nov 11 to Oct 13
Orion Town Centre (Stage 2) $67m [ 3]
Springfield, QLD (100%) Retail Jun 12 to Dec 13
664 Collins Street $173m [ 3]
Melbourne, VIC (100%) Office Feb 12 to Dec 13
Kawana Shoppingworld $75m [ 3]
Buddina, QLD (100%) Retail Feb 12 to Apr 14
1 Woolworths Way $85m [ 3]
Norwest, NSW (100%) Office Jul 12 to Dec 14
Old Treasury Building [6] , Perth $348m [ 5]
WA (100%) Office Mar 12 to Mar 15
190-200 George Street $474m [ 3]
Sydney, NSW (100%) Office Feb 13 to Dec 15
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• 1) As at 15 August 2011, occupancy for 10-20 Bond Street comprised of 59.3% signed leases and 21.7% Heads of Agreement. 2) Investa Office Fund.

• 3) Mirvac share of forecast total project cost to complete as at 30 June 2011, excluding land. 4) Forecast yield on cost on completion.

• 5) Mirvac share of forecast total project cost to complete as at 30 June 2011, including land and $61m attributable to hotel asset. 6) Heads of Agreement signed, settlement of asset expected March 2012 subject to conditions precedent being satisfied. MIRVAC FULL YEAR RESULTS ADDITIONAL INFORMATION 23 AUGUST 2011 PAGE 25

DEVELOPMENT

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WATERFRONT, NEWSTEAD, QLD
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 26
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RESIDENTIAL MARKET OUTLOOK

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Rising interest rates, flat house price growth and an insufficient transport system will continue to weigh on traditional house building activity.
Consequently, demand is likely to remain biased towards higher density living. Even though there has been an improvement in dwelling construction,
this is insufficient to keep pace with demand, further increasing the dwelling shortfall.
NSW
Weighting Forecast Dwelling construction has failed to keep pace with growth in population. This has contributed to both low dwelling vacancy
rates and solid rental growth. Reflecting poor housing affordability, long commuting times to work and a changing ethnic mix,
29.0% [ 1]
the improvement in dwelling approvals has been dominated by units and apartments, a trend which looks set to continue.
VIC
Weighting Forecast For a number of years, aided by continuing land release, state grants and robust population growth, Victoria delivered
strong growth in residential construction. More recently, the strength of dwelling construction has been driven by
24.8% [ 1]
medium density dwellings. Even though economic conditions in the state remain favourable, more moderate population
growth points to a slower pace of construction activity in the future.
QLD
Weighting Forecast The Queensland residential property market has been adversely impacted by a combination of weaker interstate
migration, the rising A$, a slowing in net overseas migration, soft economic conditions and natural disasters. The near-
27.2% [ 1]
term prospects remain uninspiring but, longer term, the significant investment by the resource companies, in tandem with
a pick-up in population growth, should lead to greater impetus in the state economy and the residential housing market.
WA
Weighting Forecast After significant price increases during the resources boom mark I, house prices in Perth have exhibited the greatest
weakness. Additionally, the accompanying sharp slowdown in population growth reduced dwelling demand. With
19.0% [ 1]
the second resources investment boom starting to unfold this should herald stronger dwelling demand and, with it,
a firming of property prices.
1) Forecast revenue from lots under control at 30 June 2011, adjusted for Mirvac’s share of JV, associates and Mirvac’s managed funds.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 27
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DEVELOPMENT FY11 ACTIVITY DETAIL

1,724 lot settlements consisting of:	1,724 lot settlements consisting of:
			~~Total~~		~~Apartments~~		~~House/Land~~
Settlement bylots		Lots	%	Lots	%	Lots	%
NSW		839	48.7%	91	5.3%	748	43.4%
VIC		237	13.7%	—	—	237	13.7%
WA		467	27.1%	71	4.1%	396	23.0%
QLD		181	10.5%	68	3.9%	113	6.6%
Total		1,724	100.0%	230	13.3%	1,494	86.7%
FY11 lot breakdown
QLD 10.5% VIC 13.7% WA 27.1% NSW 48.7%	House/Land Apartments	86.7% 13.3%		MWRDP 15.8% PDA 19.3% JVs and associates 8.1% Development funds 4.0% 100% Mirvac inventory 52.8%
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011							PAGE 28

DEVELOPMENT OUTLOOK DETAIL

$980.3m[1] of exchanged residential pre-sales

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Settlement Settlement Lots Revenue
Released Division Project Stage Status ownership year Lots presold $m [ 2]
� QLD Waterfront Newstead Park Precinct Under construction 100% FY13 102 30.4% 107.2
� VIC Yarra’s Edge River Homes Stage 3 & 4 Under construction 100% FY13 34 82.4% 100.9
� VIC Yarra’s Edge Yarra Point Under construction 100% FY13 201 71.6% 191.3
� QLD Townsville Mariner’s Peninsula Marketing 100% FY14 86 19.8% 100.6
� NSW Chatswood Chatswood, Era Under construction 100% FY14 295 92.5% 307.7
� NSW Rhodes Pinnacle Marketing 20% FY14 231 21.4% 33.9
QLD Hamilton Stage 1 DA 100% FY14 263 150.3
NSW Harold Park Precinct 1 Planning 100% FY14 296 260.6
VIC Yarra’s Edge Tower 6/7 Planning 100% FY15 200 207.0
Total 1,708 56.7% [ 3] 1,459.5
Exchanged contracts — By state [1] Forecast settlement of
$506m exchanged contracts [1]
$421m
$335m
$272m $287m
$71m $68m
NSW VIC WA QLD FY12 FY13 FY14+
1) Total exchanged contracts as at 30 June 2011, adjusted for Mirvac’s share of JV’s, associates and Mirvac’s managed funds.
2) Mirvac’s share of forecast gross revenue, adjusted for JV interest, associates and Mirvac managed funds.
3) Percentage pre sold for projects that have been released.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 29
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GEOGRAPHIC DIVERSITY

Forecast EBIT by geographic location

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FY12 FY13 FY14 FY15
NSW 58.5% NSW 13.3% NSW 59.7% NSW 25.1%
VIC 11.9% VIC 45.4% VIC 1.7% VIC 21.5%
QLD 14.7% QLD 29.5% QLD 33.9% QLD 22.4%
WA 14.9% WA 11.8% WA 4.7% WA 31.0%
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 30
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DIVERSIFICATION OF RESIDENTIAL LOTS/REVENUE

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21,557 lots under control
Lots by state Lots by structure Mirvac share of forecast revenue
NSW 22.2% 100% Mirvac inventory 43.5% House 15.0%
VIC 37.7% MWRDP 10.2% Land 32.5%
QLD 19.0% PDA’s 15.5% Apartments 52.5%
WA 21.1% JV’s & associates 28.8%
Development
funds 2.0%
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 31
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FORECAST EBIT COMPOSITION

Forecast EBIT composition - 89.5% of forecast EBIT to be contributed by 100% owned Mirvac inventory by FY14.

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100%
75% 89.5%
76.5% 77.4% 77.5%
50%
25%
0%
FY11 FY12 FY13 FY14
100% Mirvac inventory and PDA’s JV’s
MWRDP Development funds
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 32
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MIRVAC BUYER PROFILE

Mirvac buyer profile

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Mirvac buyer profile Housing finance: market shares
Repeat buyer
Mirvac’s FY11 settlements Investor
80%
> 69.9% upgraders/empty nesters and investors 70% First home buyer
> Mirvac average price: 60%
— House $689,000 [ 1] 50%
— Land $245,000 [ 2] 40%
— Apartments $1,758,000 [ 3] 30%
20%
10%
Buyer profile – FY11 0%
Upgraders/empty nesters 40.0% 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11
Investors 29.9%
FHB 30.1% Source: ABS and Mirvac
1) 697 housing lots settled, achieving gross revenue of $479.9m ($442.2m ex GST).
2) 797 land lots settled, achieving gross revenue of $195.3m ($179.9m ex GST).
3) 230 apartment lots settled, achieving gross revenue of $404.4m ($372.6m ex GST).
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 33
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GROSS DEVELOPMENT MARGIN

Cost of Development and property Gross Gross ~~construction~~ ~~development and~~ ~~development~~ ~~development~~ revenue construction margin margin $m $m $m % FY11 Adjusted for zero margin settlements 470.0 (385.7) 84.3 17.9 Commercialprojects 51.3 (33.1) Provisionprojects 239.3 (233.4) Adjusted 760.6 (652.2) 108.4 14.2 Cost recoveryactivities 197.5 (194.4) Group statement of comprehensive income 958.1 1 (846.6) 2 111.5 11.6 FY10 Adjusted for zero margin settlements 379.0 (312.5) 66.5 17.6 Commercialprojects — — Provisionprojects 251.2 (245.9) Adjusted 630.2 (558.4) 71.8 11.4 Cost recoveryactivities 232.0 (231.3) Group statement of comprehensive income 862.2 (789.7) 72.5 8.4

1) Total development and construction revenue – see page 6 of Additional Information. 2) Total cost of property development and construction – see page 6 of Additional Information.

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

PAGE 34

DEVELOPMENT HISTORICAL INFORMATION (FY07 – FY11)

~~FY11~~ ~~FY10~~ ~~FY09~~ ~~FY08~~ ~~FY07~~ Development & construction revenue 958.1 862.2 1,090.8 1,180.5 1,262.0 Gross margin 14.2% 11.4% 16.5% 21.9% 21.3% Gross residential margin (excludingzero margin) 17.9% 17.6% 20.5% 21.9% 21.3% EBIT1 86.7 51.3 75.1 218.6 211.8 Operating proft (proft before non-cash and signifcant items) 34.0 20.1 29.1 154.1 140.8 > Apartments 230 636 406 466 794 > House & Land 1,494 1,169 1,168 1,623 1,164 Lots settled 1,724 1,805 1,574 2,089 1,958

1) EBIT includes interest revenue from mezzanine loans, JVs and associates. ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

PAGE 35

PROVISIONS

Englobo sales disposal program ~~Project Target sales date Update~~ Dianella June 2011 Settled as forecasted Tennyson (Stages 3 - 5) June 2011 Settled as forecasted Magenta Shores September 2011 Settled August 2011 - ahead of forecast The Royal, Newcastle (Stages 1C & 2) June 2012 On track — terms agreed Bridgewater November 2012 On track — marketing to commence in FY12 Brendale December 2012 Marketing continuing Forecast provision release[ 1] $400m Englobo provision release Build out provision release Closing provision balance $300m $200m $100m 0 FY11 FY12 FY13 FY14 FY15 1) Based on forecast revenue, market conditions, expenditure and interest costs over project life. ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 36

OUR MARKETS

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Sector Description Sub-market Example developments
Residential Masterplanned Communities > First home buyers
> Land subdivision > 2nd/3rd home buyers
> Completed housing [ 1] > Investor
> Packaged housing [ 2] > Typical price range:
> Land $170K — $300K
> Housing $350K — $600K
GAINSBOROUGH GREENS PARKBRIDGE, MIDDLETON GRANGE
Residential Integrated Housing > First home buyers (top end)
> Small lot housing built > 2nd/3rd home buyers
in middle ring locations (main market)
> Investor
> Typical price range:
> Housing $375K — $1m
HAROLD PARK HARCREST, WANTIRNA SOUTH
Residential Apartments > Owner occupiers (60%)
> Mid market > Investors (40%)
> High end > Typical price range:
> Often as part of larger > 1 bed $400K — $550K
scale urban renewal > 2 bed $600K — $900K
projects (multiple stages) > 3 bed $800K — $2.0m
> Penthouse $1.5m — > $6m ERA, CHATSWOOD YARRA’S EDGE
Commercial Office / Industrial / Retail
> Investment grade development suitable
for MPT or third party
HOXTON PARK DISTRIBUTION CENTRE 8 CHIFLEY SQUARE, SYDNEY
1) Mirvac build and sell houses on completion.
2) Packaged housing comprises land sale plus construction of a house with progress payments on purchase.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 37
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COMBINING HIGH + LOW DENSITY PROJECTS

Diversification Different demand drivers across products

• High Density: Government requires supply from urban high density supply to meet population growth

• Low Density: First home buyers and upgraders

Long lead times of high density balanced with faster delivery from low density

Reduces volatility of earnings Large contributions offset by smaller stable volume

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NSW Projects Profile [ 1]
House/Land
ERA Chatswood Chatswood
Harold Park ERA
Rhodes Waterside
Rhodes ELINYA
& WATER’S EDGE Harold Park
Endeavour Rhodes PINNACLE
Middleton Grange
Elizabeth Hills
Hoxton Park residential
FY12 FY13 FY14
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Staff

Multi skilled workforce

1) Mirvac’s share of forecast revenue.

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PAGE 38
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ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

MIRVAC’S PRE-SALES TRACK RECORD

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Historically high level of pre-sales maintained
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Presales — Historic 10yr profile Age of pre-sales contracts
$1.2bn
> 2yrs 2.4%
1 - 2yrs 12.9%
$1.0 < 1yr 84.7%
$0.8
$0.6
$0.4
$0.2
$0.0
FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11
38.1% House/Land
61.9% Apartments
> 84.7% of pre-sales contracts were
exchanged within one year
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 39
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RESIDENTIAL DEVELOPMENT HIGH DENSITY = APARTMENTS

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Profile of high density Generic Profile — Single Stage, 200 Unit Apartment Month 35
Month 6 Month 12 Month 15 Practical
DA Submitted DA Approved Construction Commences Completion
> High barriers to entry 50.0%
> Acceptable risk 30.0% PaymentLand Settlement ofUnsold Stock
return profile
10.0%
> Larger quantum of return Internal Council
> More capital intensive 0.0% Design Phase Approval Phase Settlement of
> Longer cash conversion cycle — Approximately (10.0%)(30.0%) Initial Marketing& Pre-release Sales Civils, Carparks &Basement Works Presold Stock
2-3 years (50.0%) Lower LevelsFinishing of
> Complex skill set Finishing of
> Pre-sale for de risking (70.0%) UpperLevels
Planning & Design Marketing Construction Settlement
(9 Months) (6 Months) (20 Months) (6 Months)
Profit & Loss Impact
100% Project Marketing Expensed Sales Commissions Expensed 100% of profit recognised on settlement
PDA MGR share of equity accounted sales and marketing expenses MGR share of equity profits recognised on settlement
Fee Stream Cost based fees – billed for design, marketing and construction costs Revenue based fees
50% Joint Venture 50% of equity accounted sales and marketing expenses 50% of equity profits recognised on settlement
Fee Stream Cost based fees – billed for design, marketing and construction costs Revenue based fees
Wholesale Partnership MGR share of equity accounted sales and marketing expenses MGR share of equity profits recognised on settlement
Fee Stream Cost based fees – billed for design, marketing and construction costs Revenue based fees
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 40
CUMULATIVE CASH FLOW
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RESIDENTIAL DEVELOPMENT LOW DENSITY = HOUSES & LAND

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Profile of low density Generic Profile - Multi Stage, 1,000 Lot Masterplanned Community
Month 6 Month 24 Month 36
> Lower capital commitment 80.0% DA Submitted DA Approved First Settlement
> Smoother earnings
> Delivery less complicated 40.0%
> Flexibility of stock and staging> Shorter cash conversion cycle 0.0% NegotiationsAuthoritiesbetweenCouncil Civil WorksPeriod of SettlementPeriod Indicative Profileof Each Stage
— Approximately 6-12 months Break
Even Point
> Risk in planning at acquisition (40.0%) Land PaymentStaged First Profit Recognition
Sales
Internal Initial Civils
Design & Infrastructure
Phase
(80.0%)
Planning & Design Civils & Settlements
(24 Months) (Continues for Remainder of Project)
Profit & Loss Impact
100% Project Marketing Expenses 100% of profit recognised on settlement
PDA Marketing Expenses MGR share of equity profits recognised on settlement
Fee Stream Cost based fees Revenue & Cost based fees
50% Joint Venture Marketing Expenses 50% of equity profits recognised on settlement
Fee Stream Cost based fees Revenue & Cost based fees
Wholesale Partnership Marketing Expenses MGR share of equity profits recognised on settlement
Fee Stream Cost based fees Revenue & Cost based fees
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 41
CUMULATIVE CASH FLOW
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MIRVAC’S DEVELOPMENT BUSINESS

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Variety of capital efficient structures:
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WHOLESALE Definition Capital relationships with small number of investors for development, with
development delivery by Mirvac provided for fees and share in equity profits
RELATIONSHIPS
Benefits Improved ROIC, fees
Example MWRDP
STRUCTURED Definition Time efficient method of staged terms for acquisition of land
LAND PAYMENTS for development assets
Benefits Improved IRR, Improved ROIC
Example Eastern Golf Course, VIC
PDA Definition Provision of development services by Mirvac for a return without
the transfer of title from the owner, who retains a long term interest
Benefits Improved IRR, access to strategic sites, fees
Example Elizabeth Hills, NSW
JOINT VENTURE Definition Undertaking a development in a defined relationship with a co-investor
Benefits Improved ROIC, fees
Example Burswood, WA
[1] OF TOTAL DEVELOPMENT
38% CAPITAL
1) As at 30 June 2011.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 42
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DEVELOPMENT RISK MANAGEMENT

SUPERIOR BRAND LEVERAGED

HIGHER PRICE REPEAT PRE-SALES PREMIUM CUSTOMERS $ ACHIEVED

ABILITY TO DRIVE RETURNS IN A FLAT MACRO MARKET

Better access to capital > National procurement > Brand drives pre-sales and price premium > Increased market share > Conservative assumptions via acquisition process

SETTLEMENT MANAGEMENT

Robust sales contracts from 39 years of experience > Default rates average 3% medium term > Contracts “full recourse” and unconditional > Sales and marketing team employed and trained in-house ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 43

TREND TOWARDS MULTI-DWELLINGS

Demand for multi-dwellings has significantly increased

Households, dwelling structure, by country	Households, dwelling structure, by country	Households, dwelling structure, by country	of birth and year of	of birth and year of	arrival1
								Migrant households2
								Year of arrival1
							2003	to 2008	Prior	to 2003
Dwelling structure
Separate house								46%		76%
Semi-detached/row or terrace	house/townhouse							18%		9%
Flat, unit or apartment								36%		15%
All households								100%		100%
Source: Survey of Income and Housing, 2007-08 (June 2011), Mirvac
State/Territory of intended residency			Top three source countries permanent additions				(includes interstate and overseas migrants)			2009-10
			% of			% of			% of
		Number	total		Number	total		Number	total	Total
NSW	China	9,716	15.8%	India	6,330	10.3%	UK	6,185	10.1%	61,424
Victoria	China	8,151	16.2%	India	7,739	15.4%	UK	3,696	7.4%	50,264
Queensland	NZ	7,171	19.5%	UK	5,437	14.8%	South Africa	2,768	7.5%	36,767
South Australia	India	2,667	17.5%	UK	2,328	15.3%	China	1,913	12.6%	15,241
WA	UK	6,219	17.5%	SA	4,159	11.7%	India	3,008	8.5%	35,532
ACT	India	460	14.7%	China	436	13.9%	UK	277	8.8%	3,135
NT	Philippines	398	15.9%	India	357	14.2%	UK	253	10.1%	2,508
Tasmania	UK	190	10.6%	China	180	10.0%	South Africa	139	7.8%	1,792
Source: DIAC, Mirvac
1) Of the household reference person.
2) Households where the reference person was born		overseas.
ADDITIONAL INFORMATION BY MIRVAC	23 AUGUST 2011									PAGE 44

HYPOTHETICAL PROFIT MAKING DEVELOPMENT PROJECT – TREATMENT OF CAPITALISED COSTS

~~Project metrics~~ ~~Total~~ Sales revenue 100 Land (25) Cost of property development and construction (50) Sales & marketing expenses (10) Interest costs (10) Total project return 5 Cash Flow Year 1 Year 2 Year 3 Sales revenue 100	During construction all interest costs are capitalised to inventory. These are released in the P&L on settlement through ‘Borrowing costs capitalised during development’. Upon Settlement capitalised acquisition (land) and development (construction) costs are released in the P&L through ‘COGS’. Upon the completion of construction interest costs are expensed directly to the P&L
Land (25) Cost of property development and construction (17) (33) Sales & marketing expenses (5) (5) Interest costs (3) (5) (2) Net cash fow (50) (38) 93 P&L Year 1 Year 2 Year 3 Sales revenue 100 COGS (75) Gross margin — — 25 Sales & marketing expenses (5) — (5) EBIT (5) — 20 Interest and fnance charges paid/payable — — (2) Interest capitalised in current and prior years expensed this year — — (8) Total fnance costs — — (10) Operating netproft (5) — 10 Balance Sheet Year 1 Year 2 Year 3 Cost of acquisition 25 25 — Development costs 17 50 — Borrowingcosts capitalised duringdevelopment 3 8 —
Gross inventory 45 83 —
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011	PAGE 45

HYPOTHETICAL PROVISIONED DEVELOPMENT PROJECT – TREATMENT OF CAPITALISED COSTS

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Project metrics Total
Sales revenue 100
Land (25)
Cost of property development and construction (50)
Sales & marketing expenses (10)
Interest costs (25)
Total project return (10)
Cash flow Year 1 Year 2 Year 3 Year 4 Year 5
Sales revenue 100
Land (25)
Cost of property development and construction (5) (10) (15) (20)
Sales & marketing expenses (5) (5)
Interest costs (3) (5) (7) (8) (2)
Net cash flow (38) (15) (22) (28) 93
P&L Year 1 Year 2 Year 3 Year 4 Year 5
Sales revenue 100
COGS (75)
Gross margin — — — — 25
Sales & marketing expenses (5) — — — (5)
EBIT (5) — — — 20
Interest and finance charges paid/payable (2)
Interest and finance charges paid/payable - provision release 2
Interest capitalised in current and prior years expensed this year – provision release (23)
Interest capitalised in current and prior years expensed this year – provision release 3
Total finance costs — — — — (20)
Operating net profit (5)
Inventory impairment (5)
Statutory net profit (5) (5) — — —
Balance sheet Year 1 Year 2 Year 3 Year 4 Year 5
Cost of acquisition 25 25 25 25 —
Development costs 5 15 30 50 —
Borrowing costs capitalised during development 3 8 15 23 —
Gross inventory 33 48 70 98 —
Provision for loss — (5) (5) (5) —
Net inventory 33 43 65 93 —
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This is the same project but it has suffered from a 2 year delay in construction, increasing interest costs and resulting in a negative project return.

In year 2 when the construction delays become apparent, an inventory impairment is taken to reflect the reduced net realisable value of the project.

The Inventory is not written down at the time of the impairment but a provision for loss is added to the balance sheet. This provision is released against interest costs upon settlement.

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ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011
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PAGE 46

HOTEL MANAGEMENT

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THE ROYAL, NEWCASTLE, NSW
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 47
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HOTEL MANAGEMENT UPDATE

Hotels under management currently stands at 46, with total rooms of 5,840 > Recovering corporate and conferencing market segments together with minimal new supply resulted in RevPAR growth of 8.3%

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Hotel management FY11 FY10 %
Average room rate $176 $168 4.8%
Occupancy rate 76.5% 73.9% 3.5%
RevPAR growth 8.3% (3.7%)
Average room rate and occupancy
$184 $198 $182 $184 $177 $168 $168 $176 $176
72.0% 74.0% 72.0% 73.0% 74% 73.0% 75.1% 73.9% 77.3% 76.5%
Jun 06 Jun 07 Jun 08 Dec 08 Jun 09 Dec 09 Jun 10 Dec 10 Jun 11
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ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011
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PAGE 48

HOTEL MANAGEMENT DEFINITIONS

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Managed and Managed/Strata Strata/Managed Lot Owned Franchise
Definition Mirvac manages hotels on behalf of the owner. Mirvac Mirvac operates the hotels under a lease or licence Mirvac owns the land, building and hotel business. The hotel is owned and operated by a third party
provides a reservations system, agreement with individual who utilises Mirvac’s central
sales and marketing function apartment owners and owns reservation system, brand and
and conducts the day to day the hotel business. marketing platform.
management of the business.
Mirvac is remunerated in the
form of a management fee.
Hotels under management
5,439 5,351 5,498 5,616 5,741 5,812 5,908 5,840
3,124
74%
27 40 40 42 44 45 46 47 46
Jun 06 Jun 07 Jun 08 Dec 08 Jun 09 Dec 09 Jun 10 Dec 10 Jun 11
Total no. of hotels Total no. of rooms
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 49
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HOTEL MANAGEMENT BRAND PORTFOLIO

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2 hotels 1 hotel Future openings
215 rooms 107 rooms
7 hotels 1 hotel
629 rooms 241 rooms
24 hotels 1 hotel
3,102 rooms 59 rooms
LEIGHTON BEACH
6 hotels 1 hotel
1,194 rooms 94 rooms
1 hotel 1 hotel
65 rooms 79 rooms
1 hotel
55 rooms
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 50
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CORPORATE RESPONSIBILITY AND SUSTAINABILITY

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ARTIST IMPRESSION OF 8 CHIFLEY SQUARE, SYDNEY, NSW
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 51
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CORPORATE RESPONSIBILITY AND SUSTAINABILITY

Key FY11 Achievements:

First in the Real Estate Sector for the inaugural Global FTSE4Good ESG Ratings > Highest score, “Best Practice”, for environmental performance by CGI Lewis & Co. > Signatory of the City of Sydney’s ‘Better Buildings Partnership’

FY11 Awards:

• The Eco Collection, WA

• WA HIA Greensmart Awards for Energy Efficiency

• WA Property Council Awards — The AECOM award for Sustainable Developments

• Harmony 9, Waverley Park, VIC

• Banksia Foundation — Built Environment Award (Finalist)

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

PAGE 52

HEALTH SAFETY AND WELLBEING

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Reduced injuries FY07 to FY11: Lost time injury frequency rate
> 58% reduction injuries 1 or more days lost FY11 8.8
> 53% reduction Lost Time Injury Frequency Rate 10.8
FY10
14.0
Reduced injuries and workers FY09
compensation FY08 to FY11 FY08 17.2
> 81% reduction average time lost due to injury FY07 18.7
> 86% reduction in total WC claims costs 0.0 5.0 10.0 15.0 20.0
> 75% reduction in average cost of each claim Employees + service providers injuries per million hours worked
> 43% reduction in WC claims
Average time lost through injury in days
FY11 5 days
14 days
FY10
22 days
FY09
27 days
FY08
0 5 10 15 20 25 30
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 53
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1H12 CALENDAR[ 1]

	Upcoming conference attendance: ~~Et~~ ~~Lti~~ ~~Dt~~
	~~ven~~ ~~ocaon~~ ~~ae~~ Private Roadshow Amsterdam/Rotterdam Monday5 September 2011
	Private Roadshow Toronto Tuesday6 September 2011
	Merrill Lynch 26th Australian Investment Conference Boston Wednesday7 September 2011
	Merrill Lynch Global Real Estate Conference New York Thursday8 September 2011
	CLSA Global Conference HongKong Monday19 September 2011
	Merrill Lynch 2nd Australian REIT Conference Sydney Wednesday9 November 2011
	Announcements: ~~Et~~ ~~Lti~~ ~~Dt~~
	~~ven~~ ~~ocaon~~ ~~ae~~ MGR Distribution Announcement — Wednesday21 September 2011
	September 2011Quarter Indicative Distribution Ex-Date — Monday26 September 2011
	QuarterlyUpdate to Market Sydney Wednesday2 November 2011
	Annual General Meeting Perth Thursday17 November 2011
	MGR Distribution Announcement — Monday19 December 2011
	December 2011Quarter Indicative Distribution Ex Date — Thursday22 December 2011
	1H12 Results Announcement Sydney Tuesday21 February2012
	1) All dates are indicative and subject to change. Investor Relations Contact T: (02) 9080 8000 E: investor_relations@mirvac.com
	ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 54

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GLOSSARY
Term Meaning
ABS Australian Bureau of Statistics
CAGR Compound Annual Growth Rate
CMBS Commercial Mortgage Backed Securities
COGS Cost of Good Sold
CPI Consumer Price Index
CPSS Cents Per Stapled Security
DA Development Application
DIAC Department of Immigration and Citizenship
DPS Distribution Per Stapled Security
EBIT In the current reporting period, Mirvac has revised its definition of Earnings Before Interest and Taxes (“EBIT”). Mirvac considers interest income from
joint ventures and interest income from mezzanine loans to be part of a business’s operations and should therefore form part of operating revenue.
Prior to FY11, interest income from joint ventures and interest income from mezzanine loans were shown in finance costs as part of interest revenue. All
historical EBIT figures in this presentation have been re-stated to reflect the current definition of EBIT for comparability.
EBITDA Earnings before Interest, Tax, Depreciation and Amortisation
EIS Employee Incentive Scheme
Englobo Group of land lots that have subdivision potential
EPS Earnings Per Stapled Security
ESG Environmental Social Governance
FHB First Home Buyer
FY Financial Year
GHG Greenhouse Gas
ICR Interest Cover Ratio
IOF Investa Office Fund
IPD Investment Property Databank
IRR Internal Rate of Return
JLL Jones Lang LaSalle
JV Joint Venture
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 55
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GLOSSARY
Term Meaning
LPT Listed Property Trust
MAT Moving Annual Turnover
MGR Mirvac Group ASX code
MPT Mirvac Property Trust
MTN Medium Term Note
MWRDP Mirvac Wholesale Residential Development Partnership
NABERS National Australian Built Environment Rating system — The National Australian Built Environment Rating System
is a multiple index performance-based rating tool that measures an existing building’s overall environmental
performance during operation. In calculating Mirvac’s NABERS office portfolio average, several properties that meet the following criteria
have been excluded:
i) Future development - If the asset is held for future (within 4 years) redevelopment
ii) Operational control - If operational control of the asset is not exercised by MPT (ie tenant operates the building or controls capital expenditure).
iii) Less than 75% office space - If the asset comprises less than 75% of NABERS rateable office space by area.
iv) Buildings with less than 2,000sqm office space
NCI Non-Controlling Interest
NLA Net Lettable Area
NOI Net Operating Income
NPAT Net Profit After Tax
NPBT Net Profit Before Tax
NTA Net Tangible Assets
O&I Office and Industrial
PDA Project Delivery Agreement
RBA Reserve Bank of Australia
RevPAR Revenue Per Available Room
ROIC Return on Invested Capital calculated as earnings before interest and tax divided by invested capital.
SQM Square Metre
USPP US Private Placement
WACR Weighted Average Capitalisation Rate
WALE Weighted Average Lease Expiry
WC Workers Compensation
WOP Westpac Office Portfolio, which was acquired by Mirvac Group on 4 August 2010.
ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011 PAGE 56
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DISCLAIMER AND IMPORTANT NOTICE

Mirvac Group comprises Mirvac Limited ABN 92 003 280 699 and Mirvac Property Trust ARSN 086 780 645. This presentation (“Presentation”) has been prepared by Mirvac Limited and Mirvac Funds Limited (ABN 70 002 561 640, AFSL number 233121) as the responsible entity of Mirvac Property Trust (collectively “Mirvac” or “the Group”). Mirvac Limited is the issuer of Mirvac Limited ordinary shares and Mirvac Funds Limited is the issuer of Mirvac Property Trust ordinary units, which are stapled together as Mirvac Group stapled securities. All dollar values are in Australian dollars (A$).

The information contained in this Presentation has been obtained from or based on sources believed by Mirvac to be reliable. To the maximum extent permitted by law, Mirvac, its affiliates, officers, employees, agents and advisors do not make any warranty, express or implied, as to the currency, accuracy, reliability or completeness of the information in this Presentation or that the information is suitable for your intended use and disclaim all responsibility and liability for the information (including, without limitation, liability for negligence).

This Presentation is not financial advice or a recommendation to acquire Mirvac stapled securities and has been prepared without taking into account the objectives,

Before making an investment decision prospective investors should consider the appropriateness of the information in this Presentation and the Group’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange having regard to their own objectives, financial situation and needs and seek such legal, financial and/or taxation advice as they deem necessary or appropriate to their jurisdiction.

To the extent that any general financial product advice in respect of the acquisition of Mirvac Property Trust units as a component of Mirvac stapled securities is provided in this Presentation, it is provided by Mirvac Funds Limited. Mirvac Funds Limited and its related bodies corporate, and their associates, will not receive any remuneration or benefits in connection with that advice. Directors and employees of Mirvac Funds Limited do not receive specific payments of commissions for the authorised services provided under its Australian Financial Services Licence. They do receive salaries and may also be entitled to receive bonuses, depending upon performance. Mirvac Funds Limited is a wholly owned subsidiary of Mirvac Limited.

This Presentation contains certain “forward looking” statements. The words “anticipated”, “expected”, “projections”, “forecast”, “estimates”, “could”, “may”, “target”, “consider” and “will” and other similar expressions are intended to identify forward looking statements. Forward looking statements, opinions and estimates provided in this Presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forwardlooking statements including projections, indications or guidance on future earnings or financial position and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no assurance that actual outcomes will not differ materially from these statements. To the full extent permitted by law, Mirvac Group and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions.

An investment in Mirvac stapled securities is subject to investment and other known and unknown risks, some of which are beyond the control of Mirvac, including possible delays in repayment and loss of income and principal invested. Mirvac does not guarantee any particular rate of return or the performance of Mirvac nor do they guarantee the repayment of capital from Mirvac or any particular tax treatment.

Past performance information given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current year amounts and other disclosures. This Presentation is not an offer or an invitation to acquire Mirvac stapled securities or any other financial products and is not a prospectus, product disclosure statement or other offering document under Australian law or any other law. It is for information purposes only.

ADDITIONAL INFORMATION BY MIRVAC 23 AUGUST 2011

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