MIRVAC GROUP — Capital/Financing Update 2024

Jun 27, 2024

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28 June 2024

MIRVAC TRADING UPDATE

Mirvac Group (Mirvac or the Group) [ASX: MGR] provides the following trading update on key initiatives ahead of the end of the financial year.

Since its 3Q24 Update on 1 May 2024, the Group has completed the following:

• Asset sales: Mirvac has delivered on its ~$1 billion asset sales program. This includes 367 Collins Street, Melbourne (exchanged and deposit received), with settlement expected in July 2024.

• 55 Pitt Street, Sydney: Mirvac has unconditionally exchanged a ~66% interest in 55 Pitt Street to Mitsui Fudosan Australia.

  • The total office development has an estimated end value of ~$2 billion.

  • The project will be delivered as a joint venture, with the co-owners retaining leasing risk on the development.

  • Mirvac will co-own, develop and construct the building, and will provide leasing, investment and property management services for the asset on completion.

  • o The transaction is expected to settle today.

• Aspect South: The sale of the Aspect South Industrial precinct in Sydney into the Mirvac Industrial Venture (MIV) has been completed, with Australian Retirement Trust acquiring a 49% interest, bringing the total expected end value of MIV to ~$1 billion.

• Residential: Lot settlements are expected to be ~2,400 lots.

Mirvac reaffirms guidance of operating earnings per stapled security of 14.0-14.3c in FY24 and distribution per stapled security of 10.5c. Further details will be provided as part of Mirvac’s FY24 results, to be released on 8 August 2024.

For more information, please contact:

Media enquiries: Kate Lander General Manager, Communications +61 439 770 390

Investor enquiries: Gavin Peacock, CFA General Manager, Investor Relations +61 477 299 729

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