MIRVAC GROUP — Interim / Quarterly Report 2015

Feb 11, 2015

12 FEBRUARY 2015

==> picture [183 x 188] intentionally omitted <==

1H15 additional information

==> picture [428 x 109] intentionally omitted <==

CONTENTS

FINANCIAL

• 3 1H15 statutory to operating profit reconciliation

• 4 1H14 statutory to operating profit reconciliation

• 5 1H15 operating profit by segment

• 6 1H14 operating profit by segment

• 7 1H15 contributions to growth

• 8 FFO and AFFO based on PCA guidelines

RETAIL

• 28 Retail: Portfolio details

• 29 Retail: Lease expiry profile & top 10 tenants 30 Retail: Development pipeline

INDUSTRIAL

• 32 Industrial: Portfolio details

• 9 EBIT reconciliation: Investment

• 10 EBIT reconciliation: Development

• 11 Finance costs

• 12 Development capitalised interest

• 13 Group overhead costs

• 14 Liquidity profile

• 15 Debt and hedging profile

• 16 NTA and securities on issue reconciliation

• 17 Invested capital: Group

• 18 Invested capital: Development

• 19 Gross development margin

RESIDENTIAL

• 34 Residential: Pipeline positioning

• 35 Residential: Pipeline emergence — apartments

• 36 Residential: Pipeline emergence — masterplanned communities

• 37 Residential: 1H15 acquisitions and pre-sales reconciliation

• 38 Residential: 1H15 settlements

• 39 Residential: 1H15 settlements detail

• 40 Residential: Provisions — roll off

HEALTH AND SAFETY

• 42 Health and safety

INVESTMENT PORTFOLIO

• 21 Investment: Portfolio details

• 22 Investment: Schedule of acquisitions

OFFICE

• 24 Office: Portfolio details

• 25 Office: Lease expiry profile & top 10 tenants 26 Office: Development pipeline

CALENDAR

• 44 2H15 Calendar

GLOSSARY

IMPORTANT NOTICE

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 1

==> picture [57 x 32] intentionally omitted <==

financial

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 IMIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 22

1H15 STATUTORY TO OPERATING PROFIT RECONCILIATION

			INVESTMENT
		INVESTMENT	MANAGEMENT	DEVELOPMENT	UNALLOCATED	ELIMINATION	TAX	CONSOLIDATED
	HALF YEAR ENDED 31 DECEMBER 2014	$M	$M	$M	$M	$M	$M	$M
	Proft/(loss) attributable to the stapled securityholders of Mirvac	270.2	4.0	60.9	(45.3)	(4.7)	(6.1)	279.0
	Specifc non-cash items
	Net gain on fair value of investment properties and IPUC	(52.8)	—	—	—	2.0	—	(50.8)
	Net loss on fair value of derivative fnancial instruments and
	associated foreign exchange movements	4.1	—	—	9.3	—	—	13.4
	Security based payment expense	—	—	—	1.8	—	—	1.8
	Depreciation of owner-occupied properties	—	—	—	—	3.0	—	3.0
	Straight-lining of lease revenue	(2.5)	—	—	—	—	—	(2.5)
	Amortisation of lease ftout incentives	5.8	—	—	—	(1.1)	—	4.7
	Net gain on fair value of investment properties, derivatives and other specifc non-cash items included in share of net proft of JVA	(8.4)	(0.6)	—	—	—	—	(9.0)
	Signifcant items
	Impairment of loans, investments and inventories	—	—	—	(0.1)	—	—	(0.1)
	Net gain from sale of non-aligned assets	(4.4)	—	—	—	—	—	(4.4)
	Tax effect
	Tax effect of non-cash and signifcant adjustments	—	—	—	—	—	(3.9)	(3.9)
	Operating proft/(loss) 1	212.0	3.4	60.9	(34.3)	(0.8)	(10.0)	231.2
	Segment contribution	91.7%	1.5%	26.3%	(14.8%)	(0.4%)	(4.3%)	100.0%
	Add back tax	—	—	—	—	—	10.0	10.0
	Add back interest paid2	33.3	—	42.0	—	(0.2)	—	75.1
	Less interest revenue2	(6.4)	(0.3)	(0.1)	(0.7)	0.1	—	(7.4)
	Earnings before interest and tax	238.9	3.1	102.8	(35.0)	(0.9)	—	308.9
	Segment contribution	77.3%	1.0%	33.3%	(11.3%)	(0.3%)	0.0%	100.0%

1) Operating profit after tax is a non-IFRS measure. Operating profit after tax is profit before specific non-cash and significant items and related taxation. Operating profit after tax is used internally by management to assess the performance of its business and has been extracted or derived from Mirvac’s half year ended 31 December 2014 financial statements, which has been subject to review by its external auditors. 2) Interest paid and interest revenue between segments are eliminated in the individual segment.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 3

1H14 STATUTORY TO OPERATING PROFIT RECONCILIATION

			INVESTMENT
		INVESTMENT	MANAGEMENT	DEVELOPMENT	UNALLOCATED	ELIMINATION	TAX	CONSOLIDATED
	HALF YEAR ENDED 31 DECEMBER 2013	$M	$M	$M	$M	$M	$M	$M
	Proft/(loss) attributable to the stapled securityholders of Mirvac	277.9	2.8	26.2	(44.6)	(16.0)	(0.2)	246.1
	Specifc non-cash items
	Net gain on fair value of investment properties and IPUC	(69.2)	—	—	—	2.1	—	(67.1)
	Net loss on fair value of derivative fnancial instruments and
	associated foreign exchange movements	2.4	—	—	14.2	—	—	16.6
	Security based payment expense	—	—	—	2.8	—	—	2.8
	Depreciation of owner-occupied properties	—	—	—	—	3.1	—	3.1
	Straight-lining of lease revenue	(6.0)	—	—	—	—	—	(6.0)
	Amortisation of lease ftout incentives	6.0	—	—	—	(1.1)	—	4.9
	Net gain on fair value of investment properties, derivatives and other specifc non-cash items included in share of net proft of JVA	(1.4)	1.3	—	(0.1)	—	—	(0.2)
	Signifcant items
	Impairment of loans, investments and inventories	—	—	—	(0.9)	—	—	(0.9)
	Net loss from sale of non-aligned assets	0.9	—	—	—	—	—	0.9
	Tax effect
	Tax effect of non-cash and signifcant adjustments	—	—	—	—	—	—	—
	Operating proft/(loss)1	210.6	4.1	26.2	(28.6)	(11.9)	(0.2)	200.2
	Segment contribution	105.2%	2.0%	13.1%	(14.3%)	(5.9%)	(0.1%)	100.0%
	Add back tax	—	—	—	—	—	0.2	0.2
	Add back interest paid2	27.5	0.3	28.8	0.1	(0.6)	—	56.1
	Less interest revenue2	(0.5)	(0.1)	(0.5)	(1.0)	0.5	—	(1.6)
	Earnings before interest and tax	237.6	4.3	54.5	(29.5)	(12.0)	—	254.9
	Segment contribution	93.2%	1.7%	21.4%	(11.6%)	(4.7%)	0.0%	100.0%

1) Operating profit after tax is a non-IFRS measure. Operating profit after tax is profit before specific non-cash and significant items and related taxation. Operating profit after tax is used internally by management to assess the performance of its business and has been extracted or derived from Mirvac’s half year ended 31 December 2014 financial statements, which has been subject to review by its external auditors. 2) Interest paid and interest revenue between segments are eliminated in the individual segment.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 4

1H15 OPERATING PROFIT BY SEGMENT

	1H15 OPERATING PROFIT BY SEGMENT
	5 MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I INVESTMENT INVESTMENT MANAGEMENT DEVELOPMENT UNALLOCATED ELIMINATION CONSOLIDATED HALF YEAR ENDED 31 DECEMBER 2014 $M $M $M $M $M $M Revenue from continuing operations Investment properties rental revenue 295.9 3.5 — — — 299.4 Investment management fee revenue — 6.6 — — — 6.6 Development and construction revenue — — 577.5 — — 577.5 Development management fee revenue — — 3.4 — — 3.4 Interest revenue 10.7 0.4 2.6 0.7 (0.1) 14.3 Dividend and distribution revenue 0.2 — — — — 0.2 Other revenue 0.8 1.9 3.1 0.1 (0.8) 5.1 Inter-segment revenue 3.4 9.9 20.4 25.6 (59.3) — Total revenue from continuing operations 311.0 22.3 607.0 26.4 (60.2) 906.5 Other income Share of netproft of JVA accounted for usingthe equitymethod 18.3 0.3 1.3 0.1 — 20.0 Total other income 18.3 0.3 1.3 0.1 — 20.0 Total revenue from continuing operations and other income 329.3 22.6 608.3 26.5 (60.2) 926.5 Net loss on sale of property, plant and equipment — — — — — — Investment properties expenses 72.2 1.1 — — (6.0) 67.3 Cost of property development and construction — — 458.9 — (20.3) 438.6 Employee benefts expenses — 12.9 10.6 25.0 — 48.5 Depreciation and amortisation expenses 4.8 0.3 0.9 1.1 — 7.1 Finance costs 33.3 — 42.0 25.6 (25.8) 75.1 Selling and marketing expenses — — 22.8 — — 22.8 Other expenses 7.0 4.9 12.2 9.1 (7.3) 25.9 Operating proft/(loss) from continuing operations before income tax 212.0 3.4 60.9 (34.3) (0.8) 241.2 Income tax expense (10.0) Operating proft attributable to the stapled securityholders of Mirvac 231.2

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 5

1H14 OPERATING PROFIT BY SEGMENT

	1H14 OPERATING PROFIT BY SEGMENT
	6 MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I INVESTMENT INVESTMENT MANAGEMENT DEVELOPMENT UNALLOCATED ELIMINATION CONSOLIDATED HALF YEAR ENDED 31 DECEMBER 2013 $M $M $M $M $M $M Revenue from continuing operations Investment properties rental revenue 307.9 2.6 — — — 310.5 Investment management fee revenue — 6.4 — — — 6.4 Development and construction revenue — — 530.6 — (11.9) 518.7 Development management fee revenue — — 11.9 — 0.3 12.2 Interest revenue 7.6 0.4 2.7 0.9 (0.2) 11.4 Dividend and distribution revenue — — — — — — Other revenue — 1.8 1.0 0.8 (0.2) 3.4 Inter-segment revenue 11.1 8.5 12.8 2.3 (34.7) — Total revenue from continuing operations 326.6 19.7 559.0 4.0 (46.7) 862.6 Other income Share of netproft of JVA accounted for usingthe equitymethod 9.2 0.6 6.5 0.1 — 16.4 Total other income 9.2 0.6 6.5 0.1 — 16.4 Total revenue from continuing operations and other income 335.8 20.3 565.5 4.1 (46.7) 879.0 Net loss on sale of property, plant and equipment — — 0.1 — — 0.1 Investment properties expenses 79.6 1.0 — — (5.8) 74.8 Cost of property development and construction — — 482.4 — (12.4) 470.0 Employee benefts expenses — 11.1 5.4 19.9 — 36.4 Depreciation and amortisation expenses 4.1 0.2 1.2 1.0 — 6.5 Finance costs 35.3 0.3 28.8 2.3 (10.6) 56.1 Selling and marketing expenses — 0.1 13.2 0.1 — 13.4 Other expenses 6.2 3.5 8.2 9.4 (6.0) 21.3 Operating proft/(loss) from continuing operations before income tax 210.6 4.1 26.2 (28.6) (11.9) 200.4 Income tax expense (0.2) Operating proft attributable to the stapled securityholders of Mirvac 200.2

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 6

1H15 CONTRIBUTIONS TO GROWTH

EBIT BY SEGMENT — 1H14 TO 1H15

$350m

==> picture [525 x 133] intentionally omitted <==

----- Start of picture text -----

325
$11.1m $308.9m
$48.3m ($5.5m)
300
275
$254.9m $1.3m ($1.2m)
250
225
200
1H14 Investment Investment Development Unallocated Elimination 1H15
Management
----- End of picture text -----

OPERATING PROFIT BY SEGMENT — 1H14 TO 1H15

==> picture [526 x 155] intentionally omitted <==

----- Start of picture text -----

$250m
$11.1m ($9.8m)
$34.7m ($5.7m)
230 $231.2m
210
$200.2m $1.4m ($0.7m)
190
170
150
1H14 Investment Investment Development Unallocated Elimination Tax 1H15
Management
----- End of picture text -----

• 21% increase in Group Operating EBIT in 1H15 from 1H14

• Investment earnings supported by NOI growth, however offset by asset sales

• Development EBIT up by 89% reflecting increased settlements in 1H15

• Corporate costs movement primarily relates to monthly bonus accrual in FY15 v’s second half accrual in FY14

• Minimal elimination in 1H15 with commercial developments due for completion in 2H15

• Tax expense has increased due to higher development profits

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 7

FFO AND AFFO BASED ON PCA GUIDELINES

	FFO AND AFFO BASED ON PCA GUIDELINES
	8 MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I PCA FFO AND AFFO HALF YEAR ENDED 31 DECEMBER 2014 $M Proft attributable to the stapled securityholders of Mirvac 279.0 A Investment property and inventory Losses from sales of investment property 5.1 Fair value gain on investment property (50.8) Depreciation on owner-occupied properties 3.0 B Goodwill and intangibles Impairment — C Financial instruments Fair value gain on the mark to market of derivatives (112.2) D Incentives and straight lining Amortisation of ft-out incentives 4.7 Amortisation of cash incentives 3.5 Amortisation of rent-free periods 5.7 Rent straight lining (2.5) E Tax Non — FFO deferred tax expenses (3.9) F Other unrealised or one-off items Gain from sale of investment (9.5) Net loss on foreign exchange movements 125.6 Net gain on fair value of investment properties, derivatives and other specifc non-cash items included in share of net proft of JVA (9.0) Impairment of loans (0.1) Funds From Operations 238.6 G Adjusted Funds From Operations adjustments Maintenance capex (14.3) Incentives given for accounting period (cash and ft-out) (7.0) Incentives given for accounting period (rent-free) (8.6) Adjusted Funds From Operations 208.7

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 8

EBIT RECONCILIATION: INVESTMENT

		1H15 $M	1H14 $M
	Offce	142.8	150.6
	Retail Industrial	60.3 15.3	54.6 17.9
	Other	3.8	4.2
	Total netproperty income 1	222.2	227.3
	Investment income 2	23.5	16.3
	Overhead expenses	(6.8)	(6.0)
	Total Investment operating EBIT	238.9	237.6

Decrease in office net property income due to FY14 non-aligned disposals and the sale of a 50% interest in 275 Kent Street, Sydney Increase in retail net property income relates to the acquisition of Harbourside and the completion of assets under development, offset partially by non-aligned disposals. Decrease in industrial net property income due to FY14 non-aligned asset sales

1) Excludes straight-lining of lease revenue and amortisation of lease fit out incentives.

2) Includes income from indirect property investments.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 9

EBIT RECONCILIATION: DEVELOPMENT

		IH15 $M	IH141 $M	% CHANGE
	Development and construction revenue — non recharge projects	559.5	486.3	15%
	Development and construction revenue — recharge projects	18.0	44.3
	Total development and construction revenue	577.5	530.6
	Cost of property development and construction — non recharge projects	(440.9)	(438.1)
	Cost of property development and construction — recharge projects	(18.0)	(44.3)
	Development management fee revenue Share of net proft of associates and joint ventures accounted for using the equity method	3.4 1.3	11.9 6.5	(71%)
	Selling and marketing expenses Overheads	(22.8) (23.7)	(13.2) (14.8)	73% 60%
	Other revenue	26.0	15.9
	Operating EBIT	102.8	54.5	89%
	Less operatingfnance costs	(42.0)	(28.8)
	Interest revenue	0.1	0.5
	Operating proft	60.9	26.2	132%

Development and construction revenue up, reflecting an increase in residential lot settlements against pcp. Development and construction revenue down due to lower project contributions from residential wholesale funds. Development management fee revenue down reflecting a reduced contribution from residential wholesale funds Selling and marketing expenses up reflecting the FY15 residential projects release program, which is significantly up on prior corresponding period to take advantage of positive residential conditions.

1H15 overhead costs reflect a more balanced skew between first and second half, FY14 overheads were skewed to 2H14. Overheads also up due to additional costs associated with new business projects.

Other relates to the timing of inter segment revenue.

1) Overheads and other revenue restated for re-classification of interest revenue.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 10

FINANCE COSTS

		1H15	1H14
		$M	$M
	Interest and fnance chargespaid/payable net ofprovision release	65.4	58.0
	Capitalised interest	(19.3)	(17.7)
	Interest capitalised in current andpriorperiods expensed thisperiod net ofprovision release	27.7	10.6
	Borrowingcosts amortised	1.3	5.2
	Total fnance costs	75.1	56.1

FINANCE COSTS PROFILE

==> picture [412 x 145] intentionally omitted <==

----- Start of picture text -----

$140m 140%
120 120
100 100
80 80
60 60
40 40
20 20
0 0
HY12 HY13 HY14 HY15
----- End of picture text -----

• Interest and finance charges paid/payable net of provision release has increased due to acquisitions

• Interest capitalised in current and prior years expensed this year net of provision release has increased due to the increased number of residential lot settlements from 1,032 in 1H14 to 1,251 in 1H15

Interest and finance charges paid/payable net provision release ($m) (LHS) Total finance cost ($m) (LHS)

Finance cost expense as % of external interest (RHS)

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 11

DEVELOPMENT CAPITALISED INTEREST

• Development capitalised interest now represents 8.9% of gross inventory, down from 10.4% at FY14

• Development capitalised interest is 4.2% as a percentage of gross inventory for non-provisioned projects, and 24.5% for provisioned projects

• 64.3% of the capitalised interest balance is accounted for provision projects

• Operating profit to EBIT ratio trending back towards normalised levels — expect a range of 45% to 60% through cycle depending on product mix and contribution of different capital structures

CAPITALISED INTEREST PROFILE

OPERATING PROFIT TO EBIT RATIO

==> picture [23 x 8] intentionally omitted <==

----- Start of picture text -----

$300m
----- End of picture text -----

==> picture [413 x 112] intentionally omitted <==

----- Start of picture text -----

200 $185.6m $17.5m ($31.5m)
$171.6m
36%
100
64%
0
FY14 Interest capitalised COGS Interest 1H15
Provisioned Non-provisioned
----- End of picture text -----

==> picture [413 x 149] intentionally omitted <==

----- Start of picture text -----

$200m EBIT/NPBT NPBT to EBIT ratio 100%
150 75
100 50
50 25
64.3%
0 0
FY09 FY10 FY11 FY12 FY13 FY14
EBIT (LHS) Operating Profit (LHS) Operating Profit to EBIT ratio (RHS)
----- End of picture text -----

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 12

GROUP OVERHEAD COSTS

		1H15	1H14
		$M	$M
	Employee benefts expenses1	48.5	47.5	2
	Sellingand marketingexpenses1	22.8	13.4
	Other expenses1	25.9	21.3
	Total overhead expenses 1	97.2	82.2
	Total assets	10,003.9	9,637.3
	Overhead expenses as a percentage of asset base	1.0%	0.9%

EXPENSES AS A PERCENTAGE OF TOTAL ASSETS

==> picture [412 x 156] intentionally omitted <==

----- Start of picture text -----

$150m Total expenses % of asset base 1.5%
100 1.0
50 0.5
0 0
HY13 HY14 HY15
Total overhead expenses (LHS) Expenses as a percentage of asset base (LHS)
Expenses (excluding selling and marketing) over asset base (LHS)
----- End of picture text -----

• Employee benefit expense in 1H14 actuals has been normalised to include half of FY14 bonus accrual

• Selling and marketing expenses up reflecting increased FY15 residential projects release program to take advantage of positive residential market conditions.

• Excluding selling and marketing expenses overhead expense ratio remains flat

1) Expenses are on an operational basis (excluding non-cash and significant items). For further detail see page 5 and 6 of the Additional Information. 2) 1H14 restated for monthly bonus accrual. Previously reported 1H14 $36.4m.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 13

LIQUIDITY PROFILE

		FACILITY LIMIT	DRAWN AMOUNT	AVAILABLE LIQUIDITY
	31 DECEMBER 2014	$M	$M	$M
	Facilities maturing< 12 months	650.0	200.0	450.0
	Facilities maturing> 12 months1	2,594.8	2,318.1	276.7
	Total Facilities	3,244.8	2,518.1	726.7
	Cash			41.6
	Available liquidity			768.3
	Less facilities maturing< 12 months			650.0
	31 December 2014 funding headroom			118.3

1) Based on hedged rate not carrying value.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 14

DEBT AND HEDGING PROFILE

			FACILITY	DRAWN
			LIMIT	AMOUNT
	ISSUE / SOURCE	MATURITY DATE	$M	$M
	MTN III	March 2015	200.0	200.0
	Bank facilities	September 2015	450.0	—
	MTN IV	September 2016	225.0	225.0
	USPP1	November 2016	378.8	378.8
	Bank facilities	September 2017	350.0	200.0
	MTN V	December 2017	200.0	200.0
	Bank facilities	September 2018	300.0	173.3
	USPP1	November 2018	134.1	134.1
	Bank facilities	September 2019	300.0	300.0
	MTN VI	September 2020	200.0	200.0
	USPP1	December 2022	219.7	219.7
	USPP1	December 2024	136.4	136.4
	USPP1	December 2025	150.8	150.8
	Total		3,244.8	2,518.1

DRAWN DEBT SOURCES

USPP 40%

MTN 33%

Syndicated loans and bank facilities 27%

USPP and MTN 73%

1H15 HEDGING AND FIXED INTEREST PROFILE[ 2]

==> picture [370 x 145] intentionally omitted <==

----- Start of picture text -----

$2,000m
1,500
4.45%
4.42%
4.34%
1,000
4.11%
4.08%
4.01% 4.17%
500
0
1H15 FY15 FY16 FY17 FY18 FY19 FY20
Fixed Options Swaps Rate
----- End of picture text -----

DRAWN DEBT MATURITIES AS AT 31 DECEMBER 2014

==> picture [369 x 147] intentionally omitted <==

----- Start of picture text -----

$700m
600
500
400
300
200
100
0
2H15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26
USPP MTN Bank
----- End of picture text -----

1) Drawn amounts based on hedged rate not carrying value.

2) Includes bank callable swap.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 15

NTA AND SECURITIES ON ISSUE RECONCILIATION

	NTA	$M	$ PER SECURITIES
	As at 1 July2014	6,137.1	1.66
	Netgain on fair value of investmentproperties and IPUC	50.8	0.01
	Net loss on fair value of derivative fnancial instruments and associated foreign exchange movements	(13.4)	(0.00)
	Retained earnings/other reserves movement	250.2	0.07
	LTIP, LTI and EIS securities converted, sold, vested or forfeited	6.2	0.00
	Distributions1	(166.4)	(0.05)
	As at 31 December 2014	6,264.5	1.69
	SECURITIES ON ISSUE	DATE	NO. OF SECURITIES
	As at 1 July2014		3,692,279,772
	FY12 LTIplan vested in FY15	25 August 2014	4,917,598
	As at 31 December 2014		3,697,197,370
	Weighted average number of securities		3,695,727,436

1) FY15 interim distribution is $0.045, rounded to $0.05.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 16

INVESTED CAPITAL: GROUP

OFFICE: 57% Apartments: 60% PASSIVE ACTIVE RESIDENTIAL INVESTED INVESTED 84% RETAIL: 29% CAPITAL CAPITAL Masterplanned communities: 40% Office: 79% INDUSTRIAL: 6% $7,205m $1,696m COMMERCIAL Retail: <1% 80% 20% 16% OTHER: 8% Industrial: 20%

ACTIVE INVESTED CAPITAL

==> picture [494 x 133] intentionally omitted <==

----- Start of picture text -----

100%
Commercial 16% WA 14% Provisions 20%
75 Capital efficient [ 1] 38%
QLD 20%
50 Apartments 51% VIC 23%
100% Balance Non-provisions 80%
25 sheet 62%
Masterplanned NSW 43%
communities 33%
0
By product line By state By structure By provision/non provision
----- End of picture text -----

1) Includes capital invested in Development Agreement’s, JVA, MWRDP, deferred land payments and loans.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 17

INVESTED CAPITAL: DEVELOPMENT

			ITEMS EXCLUDED	FUND THROUGH
			FOR DEVELOPMENT	ADJUSTMENTS	DEFERRED LAND	DEVELOPMENT
			INVESTED CAPITAL	(DEFERRED REVENUE)	ADJUSTMENTS	INVESTED CAPITAL
	RECONCILIATION TO DEVELOPMENT INVESTED CAPITAL	$M	$M	$M	$M	$M
	Cash and cash equivalents	15.5	(15.5)	—	—	—
	Receivables	101.7	(23.3)	—	—	78.4
	Inventories — Net	1,756.7	—	(340.8)	(65.5)	1,350.4
	Other assets	0.9	(0.9)	—	—	—
	Investments accounted for usingthe equitymethod	216.5	(1.2)	—	—	215.3
	Other fnancial assets	52.0	—	—	—	52.0
	Property,plant and equipment	5.1	(5.1)	—	—	—
	Deferred tax assets	85.8	(85.8)	—	—	—
	Total	2,234.2	(131.8)	(340.8)	(65.5)	1,696.1

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 18

GROSS DEVELOPMENT MARGIN

		DEVELOPMENT	COST OF PROPERTY	GROSS	GROSS
		AND CONSTRUCTION	DEVELOPMENT AND	DEVELOPMENT	DEVELOPMENT
		REVENUE	CONSTRUCTION	MARGIN	MARGIN
	1H15	$M	$M	$M	%
	Residentialprojects adjusted for zero margin settlements	515.1	(376.6)	138.5	26.9%
	Residentialprovisionprojects	42.8	(42.3)
	Residentialproject revenue	557.9	(418.9)	139.0	24.9%
	Commercial	21.9	(21.9)
	Cost recoveryactivities	18.1	(18.1)
	Mirvac consolidated statement of comprehensive income	597.91	(458.9)2	139.0	23.2%

• 1) Total development and construction and inter-segment revenue — see page 5 of Additional Information.

• 2) Total cost of property development and construction — see page 5 of Additional Information.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I

19

==> picture [57 x 32] intentionally omitted <==

investment portfolio

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 IMIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 2020

INVESTMENT: PORTFOLIO DETAILS

		IH15	IH14
	No. of Properties1	60	69
	NLA1	1,367,491 sqm	1,466,884 sqm
	Portfolio value2	$7,205.2m	$7,169.9m
	WACR	7.05%	7.34%
	Net property income3	$243.4m6	$243.6m
	Like-for-like NOI growth4	3.6%	3.3%
	Maintenance capex	$14.3m	$10.0m
	Tenant incentives	$7.0m	$4.0m
	Occupancy (by area)5	96.9%	97.8%
	NLA leased	54,311 sqm	91,251 sqm
	% of portfolio NLA leased	4.0%	6.2%
	No. tenant reviews	1,126	906
	Tenant rent reviews	488,205 sqm	477,918 sqm
	WALE (by area)5	6.2 yrs	6.8 yrs
	WALE (by income)5	4.5 yrs	5.0 yrs

• 1) Includes carparks and a hotel and excludes assets held for sale.

• 2) Excludes assets held for sale and includes IPUC, indirect investments and 8 Chifley, NSW.

• 3) Includes income from indirect investments and other income.

INVESTMENT — SECTOR DIVERSITY[ 6]

INVESTMENT — GEOGRAPHIC DIVERSITY[ 6]

Office: 57% NSW: 62% Retail: 29% VIC: 17% Industrial: 6% QLD: 10% Indirect investments WA: 4% & IPUC: 7% ACT: 6% Other: 1% USA: 1%

INVESTMENT — LEASE EXPIRY PROFILE[ 7]

==> picture [370 x 146] intentionally omitted <==

----- Start of picture text -----

40% 40%
30
20
16%
12%
10 8% 10% 10%
4%
0
Vacant 2H15 FY16 FY17 FY18 FY19 FY20+
----- End of picture text -----

• 4) Excluding assets under development, indirect investments and assets held for sale and flood affected asset.

• 5) Excludes assets held for sale and indirect investments and includes 8 Chifley, NSW.

• 6) By portfolio value.

• 7) By income.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 21

INVESTMENT: SCHEDULE OF ACQUISITIONS

					ACQUISITION	PASSING
					PRICE	YIELD	SETTLEMENT
	**ACQUISITIONS **	STATE	SECTOR	OCCUPANCY	$M 1	(PRE-COSTS)1	DATE
	Birkenhead Point Outlet Centre, Sydney2	NSW	Retail	94.9%	$310.0m	6.6%	December 2014
	64 RosebySt, Drummoyne	NSW	Retail	N/A	$1.1m	N/A	December 2014
	52-60 Francis St, Glebe	NSW	Retail	N/A	$2.0m	N/A	December 2014
	Altis Portfolio3	NSW	Industrial	100%4	$213.9m	7.1%	January2015
	Total				$527.0m

• 1) Excludes acquisition cost.

• 2) Includes an adjoining carpark and marina (marina is a leasehold interest with NSW Maritime).

• 3) Nomination provision was exercised at settlement and a third party was nominated to acquire 34 – 44 Jonal Drive, South Australia.

• 4) By area, includes 12 month vendor rental guarantee on 2.0 per cent of the total lettable area.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I

22

==> picture [960 x 540] intentionally omitted <==

----- Start of picture text -----

office
MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 IMIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 2323
----- End of picture text -----

OFFICE: PORTFOLIO DETAILS

		IH15	IH14
	No. of Properties	31	35
	NLA	724,831 sqm	762,636 sqm
	Portfolio value1	$4,083.2m	$4,632.5m
	WACR	7.24%	7.40%
	Net property income2	$142.8m	$150.6m
	Like-for-like NOI growth	3.8%	3.4%
	Maintenance capex	$9.8m	$6.8m
	Tenant incentives	$5.5m	$2.3m
	Occupancy (by area)	94.7%	96.1%
	NLA leased	25,311 sqm	28,581 sqm
	% of portfolio NLA leased	3.5%	3.7%
	No. tenant reviews	468	266
	Tenant rent reviews	345,280 sqm	356,588 sqm
	WALE (by area)	4.4 yrs	5.1 yrs
	WALE (by income)	4.5 yrs	5.0 yrs

OFFICE GEOGRAPHIC DIVERSITY[ 3]

OFFICE DIVERSITY BY GRADE[ 3]

Sydney 58% Melbourne 24% Brisbane 3% ACT 9% Perth 6%

Premium grade 20% A grade 71% B grade 4% C grade 5%

1) Excludes IPUC and indirect investments and includes 8 Chifley, NSW.

2) Excludes 8 Chifley, NSW.

3) By portfolio value.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 24

OFFICE: LEASE EXPIRY PROFILE & TOP 10 TENANTS

OFFICE LEASE EXPIRY PROFILE[ 1]

==> picture [369 x 229] intentionally omitted <==

----- Start of picture text -----

40%
41%
30
20 19%
11%
10 10% 9%
5% 5%
0
Vacant 2H15 FY16 FY17 FY18 FY19 FY20+
----- End of picture text -----

	TOP 10 TENANTS 2	TOP 10 TENANTS 2	PERCENTAGE 3	S&P RATING
	1	Government	12.7%	AAA
	2	Westpac BankingCorporation	10.4%	AA-
	3	Woolworths Limited	5.9%	A-
	4	Fairfax Media Limited	4.3%	BB+
	5	IBM Australia Limited	3.0%	AA-
	6	UGL Limited	2.8%	N/A
	7	GM Holden Limited	2.4%	BBB-
	8 9	Optus ANZ Banking Group	1.8% 1.6%	A AA-
	10	John Holland Pty Ltd	1.5%	N/A
	Total		46.4%

1) By income.

2) Excludes Mirvac tenancies.

3) Percentage of gross office portfolio income.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 25

OFFICE: DEVELOPMENT PIPELINE

AREA OWNERSHIP % PRE-LEASED FORECAST VALUE ON COMPLETION1 FORECAST COST TO COMPLETE 2 FORECAST YIELD ON COST 3		1H16 2H16 FY17 ESTIMATED PROJECT TIMING	1H16 2H16 FY17 ESTIMATED PROJECT TIMING	1H16 2H16 FY17 ESTIMATED PROJECT TIMING
	2H15	1H16	2H16
Committed
699 Bourke Street, VIC 19,300 sqm 50% 100% $146m $26m 7.2%
Treasury Building, WA 30,800 sqm 50% 99% $330m $58m 8.4%
200 George Street, NSW 39,200 sqm 50% 74% $625m $168m 7.8%
2 Riverside Quay, VIC 21,000 sqm 50% 82% $212m $80m 6.7%
Total 110,300 sqm 87% $1,313m $332m
Proposed
664 Collins Street, VIC 25,000 sqm 100% — $197m $155.3m 7.3%

1) Represents 100% of expected end value.

• 2) Expected costs to complete based on Mirvac’s share of cost to complete.

• 3) Expected yield on cost including land and interest.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 26

==> picture [960 x 540] intentionally omitted <==

----- Start of picture text -----

retail
MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 IMIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 2727
----- End of picture text -----

RETAIL: PORTFOLIO DETAILS

		IH15	IH14
	No. of Properties1	15	17
	NLA2	326,945 sqm	357,417 sqm
	Portfolio value2	$2,093.2m	$1,685.5m
	WACR1	6.59%	7.04%
	Net property income	$60.3m	$54.6m
	Like-for-like NOI growth	2.6%	2.1%
	Maintenance capex	$3.4m	$2.6m
	Tenant incentives	$0.9m	$1.6m
	Occupancy (by area)2	99.2%	99.6%
	NLA leased	14,298 sqm	17,654 sqm
	% of portfolio NLA leased	4.4%	4.9%
	No. tenant reviews	655	627
	Tenant rent reviews	116,214 sqm	82,220 sqm
	WALE (by area)2	4.9 yrs	5.4 yrs
	WALE (by income)2	3.8 yrs	3.8 yrs
	Specialty occupancy cost1, 3 Specialty occupancy cost excluding CBD centres1, 3 Total comparable MAT1, 3	16.4% 15.1% $1,903.0m	16.8% 15.9% $1,726.2m
	Total comparable MAT growth1, 3	3.1%	6.1%
	Specialties comparable MAT1, 3	$8,294/sqm	$7,371/sqm
	Specialties comparable MAT growth1, 3	2.9%	1.0%
	New leasing spreads	6.3%	10.1%
	Renewal leasing spreads	3.0%	2.5%
	Total leasing spreads	4.1%	4.9%

			1H15	FY14
	RETAIL SALES	1H15 TOTAL	COMPARABLE	COMPARABLE
	BY CATEGORY1, 3	MAT	MAT GROWTH	MAT GROWTH
	Non-food majors	$225.2m	1.0%	(1.9%)
	Food majors	$864.2m	5.1%	1.6%
	Mini majors	$339.6m	0.7%	7.0%
	Specialties	$889.9m	2.9%	2.0%
	Other retail	$185.8m	3.4%	0.2%
	Total	$2,504.7m	3.1%	2.2%

RETAIL DIVERSITY BY GRADE[ 4]

Sub Regional 57% CBD Retail 21% Outlet Centre 15% Neighbourhood 7%

• 1) Excludes assets held for sale.

• 2) Excludes IPUC and assets held for sale.

• 3) Excludes Hinkler Central (flood affected) and assets under development.

• 4) By portfolio value.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 28

RETAIL: LEASE EXPIRY PROFILE & TOP 10 TENANTS

==> picture [369 x 255] intentionally omitted <==

----- Start of picture text -----

RETAIL LEASE EXPIRY PROFILE [1 ]
35% 35%
30
25
20
15 14% 14%
13%
12%
11%
10
5
1%
0
Vacant 2H15 FY16 FY17 FY18 FY19 FY20+
----- End of picture text -----

	TOP 10 TENANTS	TOP 10 TENANTS	PERCENTAGE 2	S&P RATING
	1	Wesfarmers Limited	10.0%	A-
	2	Woolworths Limited	5.9%	A-
	3	ALDI	1.6%	None
	4	Cotton On Group	1.6%	None
	5	Retail Food Group	1.1%	None
	6	Terry White Chemist	1.0%	None
	7	The Reject Shop	0.9%	None
	8	Westpac BankingCorporation	0.8%	AA-
	9	Sussan Group	0.8%	None
	10	Just Group	0.8%	None
	Total	top 10 tenants	24.5%

2) Percentage of gross retail portfolio income.

1) By income, excludes IPUC and assets held for sale.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 29

RETAIL: DEVELOPMENT PIPELINE

EXPANSION AREA OWNERSHIP % PRE-LEASED FORECAST COST TO COMPLETE 1 ESTIMATED YIELD ON COST	EXPECTED PROJECT TIMING	EXPECTED PROJECT TIMING
	2H15	FY16
Stanhope Village (Stage 4) Stanhope Gardens, NSW (100%) 800 sqm 100% 97% $5m 7.1%
Orion Springfeld Central (Stage 2) Springfeld, QLD (100%) 32,000 sqm 100% 68% $105m 7.3%

1) Forecast total cost to complete including interest.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 30

==> picture [57 x 32] intentionally omitted <==

industrial

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 IMIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 3131

INDUSTRIAL: PORTFOLIO DETAILS

		IH15	IH14
	No. of properties	11	13
	NLA	315,317 sqm	346,433 sqm
	Portfolio value	$416.6m	$460.5m
	WACR	7.38%	7.78%
	Net property income	$15.3m	$17.9m
	Like-for-like NOI growth	3.8%	5.2%
	Maintenance capex	$1.1m	$0.4m
	Tenant incentives	$0.5m	$0.0m
	Occupancy (by area)	99.5%	99.5%
	NLA leased	14,702 sqm	45,015 sqm
	% of portfolio NLA leased	4.7%	13.0%
	No. tenant reviews	3	13
	Tenant rent reviews	26,711 sqm	39,110 sqm
	WALE (by area)	11.5 yrs	11.9 yrs
	WALE (by income)	8.2 yrs	9.3 yrs

INDUSTRIAL LEASE EXPIRY PROFILE[ 1]

==> picture [369 x 145] intentionally omitted <==

----- Start of picture text -----

70%
62%
60
50
40
30
20 16%
10 11% 9%
0 <1% 1% 0%
Vacant 2H15 FY16 FY17 FY18 FY19 FY20+
----- End of picture text -----

INDUSTRIAL DIVERSIFICATION BY GEOGRAPHY[ 2]

Sydney: 85% Melbourne: 5% USA: 10%

1) By income.

2) By portfolio value.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 32

==> picture [57 x 32] intentionally omitted <==

residential

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 IMIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 3333

RESIDENTIAL: PIPELINE POSITIONING

31,396 lots under control

SHARE OF FORECAST FUTURE REVENUE BY PRODUCT

Masterplanned communities: 51% Apartments: 49%

LOTS UNDER CONTROL BY STRUCTURE

100% Mirvac inventory: 46% MWRDP: 3% JVA: 38% PDA’s: 13% Development funds: <1%

SHARE OF FORECAST FUTURE REVENUE BY GEOGRAPHY

NSW: 38% VIC: 36% QLD: 17% WA: 9%

LOTS UNDER CONTROL BY PRICE POINT

Apartments

< $1.2m: 95% $1.2m – $3m: 5%

Masterplanned communities

==> picture [86 x 33] intentionally omitted <==

----- Start of picture text -----

< $250k: 64%
$250k – $500k: 28%
> $500k: 8%
----- End of picture text -----

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 34

RESIDENTIAL: PIPELINE EMERGENCE – APARTMENTS

MAJOR PROJECTS STATE STAGE % PRE-SOLD OWNERSHIP		EXPECTED SETTLEMENT PROFILE	EXPECTED SETTLEMENT PROFILE	EXPECTED SETTLEMENT PROFILE
	2H15	FY16	FY17	FY18	FY19
Yarra's Edge VIC Array 86% 100%		205 lots
Harold Park NSW Precinct 3 100% 100%		345 lots
Harold Park NSW Precinct 4A 80% 100%		49 lots
Harold Park NSW Precinct 6B 100% 1 100%		85 lots
Harold Park NSW Precinct 4B 91% 100%		111 lots
Unison Waterfront QLD Stages 1 and 2 56% 100%			279 lots
Art House QLD Stage 1 41% 100%			189	lots
Bondi NSW Stage 1 Not released 100%			190 lots2
Green Square NSW Site 16B 100% PDA			174 lots
Green Square NSW Site 5ab, Stage 1 91% PDA				64 lots
Green Square NSW Site 5ab, Stage 2 Not released PDA				246 lots
Yarra's Edge VIC Bolte — Tower 10 33% 100%				228 lots
Harold Park NSW Precinct 5 Not released 100%				241 lots
Waterloo NSW Stage 1 Not released 100%				225 lots
Green Square NSW Site 7 Not released PDA				111 lots
Art House QLD Stage 2 Not released 100%				140 lots
Claremont WA Stages 1 and 2 Not released 100%				234 lots
Sydney Olympic Park NSW All stages Not released PDA				405 lots
Dallas Brooks Hall VIC All stages Not released PDA					103 lots
Green Square NSW Site 17 Not released PDA					77 lots
Green Square NSW Site 18 Not released PDA					93 lots
Yarra's Edge VIC Bolte — Midrise Not released 100%					80 lots
Yarra's Edge VIC Bolte — Tower 11 Not released 100%					214 lots
1) Excludes one retail lot.			Under construction Marketing Planning

1) Excludes one retail lot.

	APARTMENTS PROJECT PIPELINE	ANALYSIS
	% of total FY15 expected
	provision lots to settle	1%
	% of total FY15 expected lots
	to settle from apartments	~30%

2) Planning and approval received February 2015.

Note: PDA’s are development service contracts and there is no ownership to Mirvac.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 35

RESIDENTIAL: PIPELINE EMERGENCE – MASTERPLANNED COMMUNITIES

MAJOR PROJECTS STATE STAGE OWNERSHIP TYPE		EXPECTED SETTLEMENT PROFILE	EXPECTED SETTLEMENT PROFILE	EXPECTED SETTLEMENT PROFILE
	2H15	FY16	FY17	FY18	FY19
Elizabeth Point NSW All stages 100% Land	58 l	ots
Jane Brook WA All stages 100% Land	46 l	ots
Harcrest VIC All stages 20% House & Land		552 lots
Googong NSW All stages 50% Land			1,456 lots
Enclave VIC All stages 50% House & Land		151 lots
Osprey Waters WA All stages 100% Land			435 lots
Alex Avenue NSW Precinct 1 & 2 100% House & Land	96 l	ots			17 lots
Alex Avenue NSW Precinct 3 100% Land		88 lots
New Brighton Golf Course NSW All stages PDA House			298 lots
Baldivis WA All stages 100% Land			388 lots
Rockbank VIC Stage 1 50% Land			745 lots
Eastern Golf Course VIC All stages 100% House			526 lots
Gledswood Hills NSW All stages 100% Land			430 lots
Everton Park QLD Stage 1 100% House		56 lots
Bridgeman Downs QLD Stage 1 100% Land		123	lots
Cheltenham VIC All stages 100% House		184	lots
Yarra's Edge VIC Bolte Townhouses 100% House			36 lots
Smith's Lane, Clyde North VIC All stages 100% Land				565 lots
Donnybrook Road VIC All stages PDA Land				312 lots
West Swan WA All stages 100% Land				296 lots
Waverley Park VIC Stage 5,6,7,9 100% House				148	lots
Moorebank NSW All stages PDA House				179	lots
Marsden Park NSW All stages PDA Land				276	lots
				Active Planning

MASTERPLANNED COMMUNITIES PROJECT PIPELINE ANALYSIS

	% of total FY15 expected
	provision lots to settle	19%
	% of total FY15 expected
	lots to settle from
	masterplanned communities	~70%

Note: PDA’s are development service contracts and there is no ownership to Mirvac.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 36

RESIDENTIAL: 1H15 ACQUISITIONS & PRE-SALES RECONCILIATION

						ESTIMATED
						SETTLEMENT
	PROJECT	STATE	OWNERSHIP	NO. OF LOTS 1	PRODUCT TYPE	COMMENCEMENT
	Alex Avenue	NSW	100%	34	Masterplanned communities	FY16
	Gledswood Hills	NSW	100%	577	Masterplanned communities	FY16
	Moorebank	NSW	PDA	179	Masterplanned communities	FY18
	Marsden Park	NSW	PDA	1,261	Masterplanned communities	FY18
	Sydney Olympic Park	NSW	PDA	405	Apartments	FY18
	Bridgeman Downs	QLD	100%	123	Masterplanned communities	FY16
	Cheltenham	VIC	100%	184	Masterplanned communities	FY16
	Claremont	WA	100%	234	Apartments	FY18
	West Swan	WA	100%	365	Masterplanned communities	FY17
	Total		3,362

RECONCILIATION OF MOVEMENT IN EXCHANGED PRE-SALES CONTRACTS TO 1H15[ 3]

1) Subject to planning approvals.

==> picture [441 x 131] intentionally omitted <==

----- Start of picture text -----

$1,500m
$701m $1,301m
$1,193m ($593m)
1,000
500
0
FY14 Settled Net sales 1H15
----- End of picture text -----

Note: PDA’s are development service contracts and there is no ownership to Mirvac.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 37

RESIDENTIAL: 1H15 SETTLEMENTS

1,251 lot settlements consisting of:

1,251 lot settlements consisting of:
SETTLEMENT BY LOTS	APARTMENTS MASTERPLANNED COMMUNITIES TOTAL
	LOTS % LOTS % LOTS %
NSW	479 38% 344 28% 823 66%
QLD	5 <1% 170 14% 175 14%
WA	5 <1% 162 13% 167 13%
VIC	1 <1% 85 7% 86 7%
Total	490 38% 761 62% 1,251 100%

1H15 LOT SETTLEMENTS

By product type

Masterplanned communities: 62% Apartments: 38%

By geography

NSW: 66% QLD: 14% WA: 13% VIC: 7%

By structure

100% Mirvac inventory: 75% MWRDP: 8% JVA: 7% PDA’s: 2% Development funds: 8%

By provision

Non provision settlements: 82% Provision settlements: 18%

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 38

RESIDENTIAL: 1H15 SETTLEMENTS DETAIL

	MAJOR 1H15 SETTLEMENTS	PRODUCT TYPE	OWNERSHIP	LOTS
	Harold Park, NSW	Apartments	100%	479
	Elizabeth Hills, NSW	Masterplanned communities	100%	167
	Gainsborough Greens, QLD	Masterplanned communities	100%	165
	Alex Avenue (The Avenue), NSW	Masterplanned communities	100%	44
	Harcrest, VIC	Masterplanned communities	100%	66
	Total			921

	1H15 AVERAGE SALES PRICE	$
	Land	$289k
	House	$603k
	Apartment	$950k
	1H15 BUYER PROFILE	%
	Upgraders / empty nesters	36%
	Investors	45%
	First home buyers	19%
	OFFSHORE BUYER PROFILE
	Domestic	83%
	FIRB	17%

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 39

RESIDENTIAL: PROVISIONS – ROLL OFF[ 1]

• Approximately $16m of the provision released in 1H15

• Remaining inventory provision balance of $167m at 31 December 2014

EXPECTED PROVISION RELEASE PROFILE

EXPECTED CLOSING PROVISION BALANCE ROLL OFF

==> picture [19 x 7] intentionally omitted <==

----- Start of picture text -----

$45m
----- End of picture text -----

==> picture [22 x 7] intentionally omitted <==

----- Start of picture text -----

$150m
----- End of picture text -----

==> picture [865 x 131] intentionally omitted <==

----- Start of picture text -----

30 100
15 50
0 0
FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19
----- End of picture text -----

1) Based on forecast revenue, market conditions, expenditure and interest costs over project life.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 40

==> picture [57 x 32] intentionally omitted <==

health and safety

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 IMIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 4141

HEALTH AND SAFETY[ 1]

==> picture [592 x 341] intentionally omitted <==

----- Start of picture text -----

AVERAGE TIME LOST THROUGH INJURY IN DAYS
1H15YTD 0.6 days
FY14 4.6 days [ 2]
FY13 6.5 days
FY12 7 days
FY11 8 days
FY10 21 days
NUMBER OF INJURIES RESULTING IN WORKERS COMPENSATION CLAIMS
1H15
YTD 9
FY14 14
FY13 26
FY12 97
FY11 122
FY10 136
----- End of picture text -----

From FY10 to FY14 average time lost through injury days has reduced by 78.1%

From FY10 to FY14 the number of injuries resulting in workers compensation claims has reduced by 89.7%

1) Mirvac sold the hotel management business on 22 May 2012. Figures displayed above prior to FY13 will include elements of the hotel management business. 2) Restated due to a FY14 incurred injury closed in FY15.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I

42

==> picture [57 x 32] intentionally omitted <==

calendar

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 IMIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 4343

2H15 CALENDAR

	EVENT	LOCATION	DATE 1
	Private roadshow	Sydney	16 — 17 February2015
	Private roadshow	Melbourne	18 — 19 February2015
	Citi Global PropertyCEO Conference	Miami	1 — 4 March 2015
	JP Morgan REIT Conference	HongKong/Singapore	30 March — 1 April 2015
	3Q15 Update	Sydney	30 April 2015
	FY15 Results Briefng	Sydney	13 August 2015
	Investor Relations Contact
	T: (02) 9080 8000

E: investor_relations@mirvac.com

1) All dates are indicative and subject to change.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 44

GLOSSARY

TERM MEANING

• 1H First half

A-REIT Australian Real Estate Investment Trust
AFFO Adjusted Funds from Operations
BP Basis Points
CBD Central Business District
COGS Cost of Goods Sold
CPSS Cents Per Stapled Security
DA Development Application — Application from the relevant planning authority to construct, add, amend or change the structure of a property. DPS Distribution Per Stapled Security
DMA Development Management Agreement
EBIT In the current reporting period, Mirvac has revised its defnition 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 as part of interest revenue. All historical EBIT fgures in this presentation have been re-stated to refect the current defnition of EBIT for comparability.
EIS Employee Incentive Scheme
ENGLOBO Group of land lots that have subdivision potential
EPS Earnings Per Stapled Security
FHB First Home Buyer
FFO Funds from Operations
FY Financial Year
GE GE Real Estate Investments Australia
ICR Interest Cover Ratio
IFRS International Financial Reporting Standards
IPD Investment Property Databank
IPUC Investment properties under construction
IRR Internal Rate of Return

==> picture [426 x 370] intentionally omitted <==

----- Start of picture text -----

TERM MEANING
JVA Joint Ventures & Associates
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
NLA Net Lettable Area
NOI Net Operating Income
NPAT Net Profit After Tax
NRV Net Realisable Value
NTA Net Tangible Assets
PCA Property Council of Australia
PDA Project Delivery Agreement. Provision of development services by Mirvac to the local land owner
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
----- End of picture text -----

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 45

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 advisers 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, financial situation or needs of individuals. 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 License. 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.

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.

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. Forward-looking 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. 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 also includes certain non-IFRS measures including operating profit after tax. Operating profit after tax is profit before specific non-cash items and significant items. It is used internally by management to assess the performance of its business and has been extracted or derived from Mirvac’s financial statements ended 31 December 2014, which has been subject to review by its external auditors.

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.

The information contained in this presentation is current as at 31 December 2014, unless otherwise noted.

MIRVAC I 1H15 ADDITIONAL INFORMATION I 12 FEBRUARY 2015 I 46

==> picture [183 x 188] intentionally omitted <==

thank you

FOLLOW US ON TWITTER @MIRVAC

MIRVAC INVESTOR RELATIONS WEBSITE

MIRVAC 1H15 PROPERTY COMPENDIUM