MIRVAC GROUP — Capital/Financing Update 2019

Jul 2, 2019

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NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

3 July 2019

SUCCESSFUL COMPLETION OF SECURITY PURCHASE PLAN

Mirvac Group (ASX: MGR) (" Mirvac ") refers to its announcements made to the Australian Securities Exchange:

• on 29 May 2019, relating to a fully underwritten institutional placement to raise A$750 million (" Placement "), and a non-underwritten security purchase plan (" SPP ") to provide eligible Mirvac securityholders with the opportunity to acquire up to A$15,000 worth of Mirvac stapled securities (" Stapled Securities ") in Australia and New Zealand to raise up to A$75 million; and

• on 4 June 2019, relating to the dispatch of the SPP booklet to eligible Mirvac securityholders in Australia and New Zealand.

Mirvac confirms the successful completion of the SPP following closing of the SPP offer at 5.00pm (Australian Eastern Standard Time) on Tuesday, 25 June 2019.

A total of approximately A$46.2 million was raised under the SPP, with approximately 15.9 million new Stapled Securities to be issued to eligible applicants on Thursday, 4 July 2019 at an issue price of A$2.90 per Stapled Security (" Issue Price "). The Issue Price is the same price paid by institutional investors under the Placement less a discount of 6.3 cents.

The discount of 6.3 cents is equal to the amount of the dividend/distribution to be paid for the six months ending 30 June 2019. This reflects the fact that the Stapled Securities issued under the SPP will not be entitled to receive the dividend/distribution for the six months ending 30 June 2019 because the Stapled Securities issued under the SPP will be issued and allotted after the relevant exdistribution date, being 27 June 2019.

All new Stapled Securities issued under the SPP will otherwise rank equally with existing Stapled Securities.

The SPP offer was sent to 24,158 eligible securityholders and valid applications totalling approximately $46.2 million were received from approximately 3,386 securityholders. This represents a participation rate for those eligible securityholders of 14 per cent and an average application worth $13,600.

Holding statements will be issued to eligible applicants on Friday, 5 July 2019 and trading of the new Stapled Securities issued under the SPP is expected to commence on Friday, 5 July 2019.

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For more information, please contact:

Media enquiries: Investor enquiries: Kate Lander Bryan Howitt General Manager, Communications General Manager, Investor Relations +61 2 9080 8243 +61 2 9080 8749

Disclaimer

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 loss of income and capital invested. Mirvac does not guarantee any particular rate of return or the performance of Mirvac nor does it guarantee the repayment of capital from Mirvac or any particular tax treatment. Persons should have regard to the risks outlined in the Investor Presentation released to ASX on 29 May 2019. This announcement should be read in conjunction with the Investor Presentation and the important notices contained in that document. Past performance should not be relied upon as (and is not) an indication of future performance.

This announcement 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. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The new Stapled Securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the " U.S. Securities Act ") or the securities laws of any state or other jurisdiction of the United States. Accordingly, the new Stapled Securities may not be offered or sold, directly or indirectly, in the United States, unless they have been registered under the U.S. Securities Act (which Mirvac has no obligation or intention to do or procure), or are offered and sold in a transaction exempt from, or not subject to, the registration requirements of the U.S. Securities Act and any other applicable state securities laws. This announcement may not be released or distributed in the United States.

This announcement is not financial advice or a recommendation to acquire Mirvac Stapled Securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision prospective, investors should consider the appropriateness of the information 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. Mirvac Limited is not licensed to provide financial product advice in respect of Mirvac Stapled Securities. Cooling off rights do not apply to the acquisition of Mirvac Stapled Securities.

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