1H26 Additional Information 18 February 2026

30 40 Overview Financial

31 Our competitive advantage
41 1H26 & 1H25 operating to statutory result reconciliation
32 Mirvac overview
42 1H26 EBIT movement by segment
33 Mirvac is a leading, diversified Australian property group
43 1H26 Investment income reconciliation by segment
34 Deep platform value
35 Improved earnings growth visibility into FY26+
44 FFO & AFFO based on PCA guidelines
36 Sustainability commitment
45 Finance costs by segment
37 Our decarbonisation journey
46 Progressing towards Invested Capital targets
38 Our plan to decarbonise by 2030
39 $100million Social procurement
47 Capital management metrics & liquidity profile
48 Debt & hedging profile

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The Albertine, Melbourne (artist impression, final design may differ)
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49 NTA & securities on issue reconciliation

50 Investment

51 Portfolio overview 52 Total investment value 53 Key ventures
52 Total investment value
54 Key acquisitions & disposals

55 Office

56 Portfolio details
57 Leasing details
58 Research

59 Industrial

60 Portfolio details
61 Leasing details
62 Research

63 Retail

64 Portfolio details
65 Leasing details
66 Sales by category 68 Research

68 Build to Rent

69 Portfolio details
70 Market in Australia 71 Research
72 Land Lease
73 Portfolio details
74 Pipeline projects 75 Market in Australia 76 Research

77 96 Funds Calendar

78 Platform growth 79 Platform overview
97 FY26 Calendar
98 Glossary & Important notice 98 Glossary

80 Research

99 Important notice

Development

82 Commercial & Mixed Use

83 Recently completed & pipeline projects

84 Residential

85 Unique offering across product types and locations
86 Pipeline positioning
87 Masterplanned communities pipeline (key projects)
88 Apartments pipeline (key projects)
89 Pre-sales detail
90 1H26 acquisitions & additional pipeline projects
91 2H26 expected major releases
92 1H26 settlements
93 1H26 settlements detail
94 EBIT reconciliation and gross development margin
95 Research

1H26 Additional Information 18 February 2026

Overview

1H26 Additional Information 18 February 2026

Our competitive advantage

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Leading Australian
diversified property group
~$23bn of AUM
Unique integrated
creation expertise
Unique offering across product types and locations High-quality sustainable Investment portfolio
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Aligned capital partner with ~$17bn of third-party capital under management

Underpinned by balance sheet, culture and capability

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1H26 Additional Information 18 February 2026
Mirvac overview
Net Positive Scope 1 and 2 emissions, Awarded world’s first +21% pa 5 star Unrivalled experience
9 years before target 6 Star Green Starbuilding by the GBCA under management since FY16growth in 3rd party capital Gold Star iCIRT rating 3 years in a row residential track record>50 year
Investment $10.2bn Funds $17.0bn Development ~$28bn $3.2bn
passive invested capital [10] third-party capital [5] development active invested
pipeline [6] capital [10]
$22.7bn assets under management [9]
Commercial &
Office Industrial Retail Living Funds Mixed Use Residential
Image credit, Trevor Mein
Heritage Lanes, BNE Aspect Industrial Estate, SYD Orion Springfield Central, BNE LIV Albert, MEL Angel Place, SYD 55 Pitt Street [12] , SYD Henley Brook, PER
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27 assets[1]
Portfolio value[2] : $5.1bn
NLA[3] : 643,333 sqm
12 assets[1]
Portfolio value[2] : $1.8bn
NLA[3] : 690,450 sqm
9 assets[1] – JV & Co-investment
– Portfolio value[2] : $2.3bn equity value[2] : $0.8bn
GLA[3] : 316,310 sqm
7,404 operational and 2,455 pipeline living sector lots, across Build to Rent and Land Lease[4]
$13.4bn Funds – ~$4.2bn active – 27,329 pipeline lots[7] under management[[11]] developments[[6]]
under management[[11]] developments[[6]] – ~$21bn total
– 17 funds, mandates – ~$7bn total pipeline value[6] and JV partners pipeline value[6] – $1.6bn pre-sales[8]
Includes co-investment properties, but excludes properties jointly held with MWOF and IPUC. 2. Includes co-investment equity values, but excludes IPUC and the gross up of lease liability under AASB16. 3. Excludes properties held in co-investments and IPUC. 4. Operational lots include completed build to rent apartments and completed land lease lots. Pipeline lots are subject to various factors outside of Mirvac’s control, such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. 5. Includes external funds, developments and assets under management, and excludes Mirvac’s investment in those managed assets and vehicles. 6. Represents 100% expected end value / revenue (including GST), including where Mirvac is only providing development management services, subject to various factors outside Mirvac’s control. 7. Subject to change depending on various factors outside of Mirvac’s control. 8. Represents Mirvac’s share of total pre‑sales (includes GST). 9. Assets Under Management represents the total value of capital where we generate fees by providing property management services (includes Mirvac’s share). 10. Investment (passive) invested capital includes investment properties, assets held for sale, JVA, equity accounted co-investments, other financial assets, and deferred land. Development (active) invested capital typically includes inventory, IPUC, JVA less deferred land and unearned income. 11. Funds Under Management (FUM) represents the total value of assets we generate fees by providing Investment Management services, includes Mirvac share. 12. Artist impression, final design may differ.

1H26 Additional Information 18 February 2026

Mirvac is a leading, diversified Australian property group

Western Australia $0.2bn investment portfolio[2] $1.3bn total development pipeline[3]

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Queensland
$1.1bn
investment portfolio [2]
$5.3bn
total development pipeline [3]
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2,041 residential pipeline lots[4]

10,073 residential pipeline lots[4] New South Wales

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Victoria
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$6.0bn investment portfolio[2] $14.6bn total development pipeline[3]

$1.5bn investment portfolio[2]

$6.9bn total development pipeline[3]

6,513 residential pipeline lots[4]

8,702

Office[1]

$5.1bn 27 Total value Assets[6]

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Industrial[1] $1.8bn 12 Total value Assets

Retail[1]

$2.3bn 9 Total value Assets

Living[1]

$0.8bn 37 Total value Assets

Residential[3]

~$21bn Total value

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CMU Development[3] ~$7bn Total value

residential pipeline lots[4]

Funds[5]

Includes co-investment equity value, excludes IPUC and gross up of lease liability under AASB 16. Refer to page 51 for further breakdown. 2. State investment portfolio valuations exclude co-investment equity values. Subject to rounding. 3. Represents 100% expected end value / revenue (including GST) including where Mirvac is only providing Development Management Services, subject to various factors outside Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. 4. Subject to change depending on various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. 5. Includes external funds, developments and assets under management and excludes Mirvac investment in those managed assets and vehicles. 6. Office asset number excludes IPUC and properties that are jointly held with MWOF.

$17.0bn Total value

1H26 Additional Information 18 February 2026

Deep platform value

50 year TRACK RECORD RESIDENTIAL DEVELOPMENT PLATFORM Pipeline: ~27k lots, >$21bn end value[1] ~$1.6bn pre-sales[2] ~8yr average vintage 18-22% target gross profit margin High repeat customers

INTEGRATED COMMERCIAL & MIXED USE DEVELOPMENT PLATFORM

~$100m new NOI[3] 26% average return on cost[4] ~$7bn development pipeline[1] ~$17BN[5] THIRD-PARTY CAPITAL MANAGEMENT PLATFORM Unique alignment model ~$4.3bn capital raised since FY24[6] $13.4bn FUM, $22.7bn AUM ~$2.3bn future FUM secured[7] MARKET LEADING INVESTMENT PORTFOLIO AND DEVELOPMENT INVENTORY NTA[10] Office BTR Land Lease Industrial Retail $2.30 ~7.4% pa long term historical return MPT portfolio 110bps long term Net positive 5.69% average cap rate[9] performance 10 year annual return to June 2025 out-performance[8] carbon scope 1 & 2

Represents 100% expected end value/revenue (including GST), including where Mirvac is only providing development management services, subject to various factors outside Mirvac’s control. 2. Represents Mirvac’s share of total pre‑sales (includes GST). 3. Includes Mirvac’s share of NOI from committed developments and assets under stabilisation; excludes income from future land lease community completions. 4. Average return on cost on projects completed between FY14-1H26. 5. Includes external funds, developments and assets under management and excludes Mirvac investment in those managed assets and vehicles. 6. Includes raised and committed from sell down of stakes in 55 Pitt St, Aspect North & South, Highforest, Mulgoa and Cobbitty, NSW residential projects, SEED Stage 1 Industrial development, Harbourside and MWOF capital raise. 7. Includes future funds under management from committed developments including 55 Pitt, 7 Spencer, Harbourside, SEED Stage 1, and Aspect South at 31 December 2025. 8. MPT Portfolio performance vs RIA commercial property market return over 10 years to June 2025. 9. Includes co-investments. 10. NTA excludes intangible assets, right-of-use assets, deferred tax assets and deferred tax liabilities, based on ordinary securities including EIS securities.

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1H26 Additional Information 18 February 2026
Improved earnings growth visibility into FY26+
FY25 FY26 FY27 FY28+
NEW INVESTMENT INCOME [1] FROM COMMITTED DEVELOPMENT COMPLETIONS ~$100m
new N OI [2]
BTR LIV Aston LIV Anura & LIV Albert (Mirvac NOI share)
Industrial Aspect North & South SEED Stage 1
Office 7 Spencer St 55 Pitt St, Harbourside
Land Lease Land Lease development completions
FUM GROWTH FROM COMMITTED DEVELOPMENT COMPLETIONS
~$2.3bn
Funds future secured
FUM [3]
DEVELOPMENT PROFITS & NTA UPLIFT FROM REVALUATIONS
55 Pitt St
7 Spencer St
Aspect North & South ~$4 bn
Aspect Central Committed
SEED commercial
pipel ine [4]
Harbourside
NEW RESIDENTIAL SETTLEMENTS & MARGIN RECOVERY
NSW Riverlands & Highforest Mulgoa WSU Milperra
New Masterplanned VIC Wantirna South
communities WA 5 NEW MPC PROJECTS South Bullsbrook Karnup [6] ~$1.6 bn
(House and Land) Reside ntial
QLD Monarch Glen pre-sales [5]
NSW Highforest Harbourside & Green Square
New Apartments VIC The Albertine Trielle, Prince & Parade The Fabric
QLD Isle
OTHER GROWTH DRIVERS: Valuations past inflection point | Cost management discipline
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Note: All timing and outcomes depicted on this page are forecasts on current assumptions and subject to change.

Timing indicative representation of stabilised income contribution. 2. Includes Mirvac’s share of NOI from committed developments and assets under stabilisation; excludes income from future land lease community completions. 3. Includes future funds under management from committed developments including 55 Pitt, 7 Spencer, Harbourside, SEED Stage 1, and Aspect South at 31 December 2025. 4. Represents 100% expected end value, including where Mirvac is only providing development management services, subject to various factors outside Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. 5. Represents Mirvac’s share of total pre-sales and includes GST. 6. Preferred developer, expected to execute contract in 2H26.

1H26 Additional Information 18 February 2026

Sustainability commitment

Mirvac reports transparently to a range of ESG performance indices on topics spanning the breadth of environment, social and governance.

Confidence Building Measures: 5 stars
‒ Policy, Governance & Strategy: 4 stars
‒ Direct – Real Estate: 4 stars

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Mirvac reports its mandatory disclosure in accordance with the NGERS Act
A rating

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Voluntary Annual Reporting
2025 ESG Top Rated Companies List
Low Risk Rating
Mirvac reports in accordance with the GRI standards

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36
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1H26 Additional Information 18 February 2026

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Our decarbonisation journey

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F Y14 FY19 FY22 FY23 FY25
Achieved from FY19-FY22
EMISSIONS Planet Positive – Our Reduced carbon Reached net positive carbon TARGET SET: TARGET REAFFIRMED [1] :
TARGET SET: plan to reach net positive intensity by 84% in scope 1 and 2 emissions
carbon released Net positive in scope 1, 2, Submitted our science-based
Net positive 3.9MW commercial and 3 emissions by 2030 [1] targets to the SBTi
HOW WE GOT THERE:
in scope 1 and Reduced carbon intensity onsite solar installed
2 emissions by 21%, while portfolio Our intended scope 3 Key external factors identified
Maximising energy efficiency
by 2030 [1] grew by a third Reduced carbon approach shared
emissions by 80% Increasingly confident in forecasts
Building all-electric and buying
Commitment to sharing
100% renewable electricity emissions reduction plans An update on our plan published
Investing in a small amount of high-quality, Ongoing monitoring
nature-based carbon offsets
OUR KEY LEVERS OF CHANGE SCOPE 3 [1] : TARGET [1]
Boundaries Key actions
‒ Embodied carbon ‒ Electrification of Investment
in materials portfolio & pipeline
‒ Waste ‒ Recycling, diversion of waste 2030
In-house design Our buying Collaboration In-house ‒ Tenant & resident and use of lower carbon materials Net positive in
and construction power sustainability emissions ‒ Utilising 100% renewable carbon emissions
capability expertise ‒
Repairs & maintenance electricity
‒ (SCOPE 1, 2 & 3)
Planet positive in carbon, Limited use of quality nature
waste and water by 2030 [1] based carbon offsets
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Increasingly confident in forecasts An update on our plan published

Refer to Net Positive Carbon By 2030: Mirvac’s Scope Emissions Target and associated reports for further information, including assumptions on Scope 3 initiatives, found at www.mirvac.com/sustainability/our-performance.

1H26 Additional Information 18 February 2026

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Our plan to decarbonise by 2030[1]

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External factors Internal factors
Mirvac remains Scope 1 and 2
focused on our goal to Mirvac actions underway: existing targets Next steps
decarbonise by 2030. Cat 13 to electrify, increase efficiency and achieve ‒ Converting assets to all-electric Capitalising on Australia’s
Mirvac minimum standards
‒ ‒ National materials supply grid decarbonisation
Progress depends ‒ Energy efficiency agreements and Mirvac’s strong
on several external Cat 11 Building all-electric ‒ Offsets planning progress, we’re stepping
factors, including the ‒ Buying 100% renewable electricity ‒ Collaborating with our supply chain up electrification and
decarbonisation of ‒ Installing residential & industrial solar ‒ renewable energy efforts
Australia’s electricity ‒ Green leases Using our in-house to cut emissions, with
design capability high-quality offsets as
grid, advancements in ‒
Buying lower carbon materials a final step
low-carbon materials, ‒
Reducing waste to landfill
and the availability
and reliability of high-
External
quality carbon offsets. Cat 2 emissions Mirvac’s estimated Net positive
Significant changes reductions grid Scope 1-3 FY30 offsetting more
in these areas may and supply chain residual emissions than residual
impact the pace and decarbonisation unavoidable emissions
or cost prohibitive
cost of their efforts.
Cat 1
Other
Mirvac’s estimated Scope 1-3 emissions in FY19
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Scope 1 & 2 emissions (heating and cooling kit, construction machines) Category 1 Goods and services purchased (professional services, architects) Category 2 Capital goods: embodied carbon in materials Category 11 Use of sold products (people using residential homes) Category 13 Use of leased assets (tenants in office buildings) Other Investments (buildings), waste (rubbish bin) Nature-based offsets Emissions reductions FY19 - FY30 Residual emissions Embodied carbon in materials (concrete truck, steel frame)

Refer to Net Positive Carbon By 2030: Mirvac’s Scope 3 Emissions Target and Approach and associated reports for further information, including assumptions on Scope 3 initiatives, found at www.mirvac.com/sustainability/our-performance. Note: Future reductions in emissions are representative and illustrate the potential downward movement of total emissions.

1H26 Additional Information 18 February 2026

1 $100million Social procurement spend goal achieved five years early

Our purchasing power has a greater impact if we direct spend to suppliers who do business differently. We’ve been able to embed spending targets in each part of our business to include social suppliers in our supply chain.

This investment has created meaningful, measurable social impact – supporting job creation, training pathways, First Nations economic empowerment, social enterprises, and community organisations.

Examples of our supplier engagements:

Mates on the move

Engaged to support our waste goals, they have helped to divert 726 tonnes of waste from landfill since 2017 from Mirvac assets
Paid more than $375,000 in wages – helping people get back on their feet, find housing and gain valuable work experience
Provided 13,588 hours of employment to people who have left prison

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Reground

Reground conducts waste flow analyses and audits to generate waste data, optimise systems, and improve resource recovery across Mirvac buildings in Brisbane, Melbourne and Sydney
2,199,297 kg of coffee diverted from landfill across their operations
4,719,998 kg of harmful emissions prevented

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Muru Mittigar

A First Nations–owned cultural consultancy
A key social procurement partner for our Highforest residential project in Sydney
Supporting the First Nations community consultation, and delivering bush regeneration works including long-term weed management and forest regeneration.
$102m spend cumulative total from July 2018 to Nov 2025, exceeding the 2030 target five years early.

1H26 Additional Information 18 February 2026

Financial

1H26 Additional Information 18 February 2026

1H26 & 1H25 operating to statutory result reconciliation

	1H26	1H25	Variance
	$m	$m	$m
Investment	315	309	6
‒ Office	175	184	(9)
‒ Industrial	41	36	5
‒ Retail	69	63	6
‒ Living	30	26	4
Management and administration expenses	(8)	(7)	(1)
Investment EBIT	307	302	5
Funds Management	11	10	1
Asset Management	23	21	2
Management and administration expenses	(15)	(17)	2
Funds EBIT	19	14	5
Commercial & Mixed Use	27	8	19
Residential	110	101	9
Management and administration expenses	(26)	(28)	2
Development EBIT	111	81	30
Segment EBIT1	437	397	40
Unallocated overheads	(39)	(36)	(3)
Group EBIT	398	361	37
Net financing costs2	(129)	(110)	(19)
Operatingincome tax expense	(21)	(15)	(6)
Operating profit after tax	248	236	12
Development revaluation gain/(loss)3	8	(33)	41
Investment property revaluation gain/(loss)	120	(139)	259
Other non-operatingitems	(57)	(63)	6
Statutory profit attributable to stapled securityholders	319	1	318

EBIT includes share of EBIT of joint ventures and associates. 2. Includes cost of goods sold interest of $20m (December 2024: $7m), interest revenue of $3m (December 2024: $3m), and the Group’s share of JVA net financing costs of $18m (December 2024: $16m), which is included in Share of net profit/(losses) of joint ventures and associates. 3. Relates to the fair value movement on IPUC.

1H26 Additional Information 18 February 2026

1H26 EBIT movement by segment

Operating EBIT by segment: 1H25 to 1H26

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$410m
$30m
400 $398m
($3m)
390
380
$5m
370
$5m
$361m
360
350
340
1H25 EBIT Investment Funds Development Unallocated 1H26 EBIT
overheads
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	1H26	1H25
	$m	$m
Investment	307	302
Funds Development Unallocated overheads	19 111 (39)	14 81 (36)
Group EBIT	398	361

1H26 Additional Information 18 February 2026

1H26 Investment income reconciliation by segment

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Investment income summary Industrial income summary
$320m $42m $4m $41m
$6m $315m
$309m $10m 37 $36m $1m
300 $4m
32
1H25 Development Like-for-like 1H26
($14m) & other
Retail income summary
280
1H25 Disposals Development Like-for-like Co-investment 1H26 $70m $3m $69m
& other
$3m
65
$63m
Office income summary
60
$190m 1H25 Other Like-for-like 1H26
$184m
Living income summary
$5m
175 $2m $175m $33m $30m
$3m
($1m)
28.5
($14m) $26m
160 24
1H25 Disposals Like-for-like Co-investment 1H26 1H25 BTR Serenitas 1H26
co-investment co-investment [1]
1. Reflects impact of ownership moving from 47.5% in prior period to current ownership of 40% and 43
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Reflects impact of ownership moving from 47.5% in prior period to current ownership of 40% and change in treatment of development expenditure. Like-for-like EBIT growth of 50% delivered in 1H26.

1H26 Additional Information 18 February 2026

FFO & AFFO based on PCA guidelines

FFO & AFFO based on PCA guidelines
	1H26	1H25
	$m	$m
Operating profit after tax	248	236
SaaS implementation costs	5	11
Funds From Operations (FFO)	253	247
Maintenance capex	(19)	(15)
Incentives	(44)	(36)
Adjusted Funds From Operations (AFFO)	190	196

1H26 Additional Information 18 February 2026

Finance costs by segment

Finance costs by segment
	Investment	Funds	Development	Unallocated	Group
1H26	$m	$m	$m	$m	$m
Interest expense1	—	—	(55)	(65)	(120)
Interest expensed through COGS2 Interest capitalised Borrowing costs amortised	— — —	— — —	(20) 28 —	— — (2)	(20) 28 (2)
Total finance costs	—	—	(47)	(67)	(114)
Add: interest revenue	—	—	2	1	3
Net finance costs (balance sheet)	—	—	(45)	(66)	(111)
Deduct: net finance costs (co-investments)3	(18)	—	—	—	(18)
Net finance costs (look-through)	(18)	—	(45)	(66)	(129)
1H25
Interest expense	(1)	—	(59)	(68)	(128)
Interest expensed through COGS	—	—	(7)	—	(7)
Interest capitalised	1	—	39	—	40
Borrowing costs amortised	—	—	—	(2)	(2)
Total finance costs	—	—	(27)	(70)	(97)
Add: interest revenue	—	—	1	2	3
Net finance costs (balance sheet)	—	—	(26)	(68)	(94)
Deduct: net finance costs (co-investments)3	(16)	—	—	—	(16)
Net finance costs (look-through)	(16)	—	(26)	(68)	(110)

Includes $1m interest on lease liabilities and $9m interest on deferred payables.
Excludes $1m COGS interest on impaired projects.
Represents Mirvac’s share of net finance costs in BTR, MWOF and Serenitas.

1H26 Additional Information 18 February 2026

Progressing towards Invested Capital targets

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Long-term target 1H26 Invested Capital 1H25 Invested Capital
% $bn % $bn %
Investment >70% $10.2bn 76% $10.4bn 75%
Office ~40% $5.3bn 52% $5.8bn 56%
Industrial ~20% $1.8bn 18% $1.7bn 16%
Retail ~15% $2.3bn 22% $2.2bn 21%
Living ~25% $0.8bn 8% $0.7bn 7%
Development <30% $3.2bn 24% $3.4bn 25%
CMU ~40% $1.0bn 31% $1.4bn 41%
Residential ~60% $2.2bn 69% $2.0bn 59%
Portfolio management framework
1 2 3 4
Capital allocation Earnings mix Returns Capital structure
Investment (Passive [1] ) >70% Investment >60% ROIC > WACC Headline Gearing 20-30%
Development (Active [2] ) <30% Development <40% Sector Returns > Hurdles Credit Rating Moody’s/Fitch A3/A-
Distribution 60-80% (of EPS)
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Investment invested capital includes investment properties, co-investments stakes reported on equity basis, assets held for sale, JVA and other financial assets on balance sheet. 2. Development invested capital typically includes inventory, IPUC, JVA less deferred land and unearned income.

1H26 Additional Information 18 February 2026

Capital management metrics & liquidity profile

Capital management metrics

Liquidity profile

	31 December 2025	30 June 2025
NTA1	$2.30	$2.26
Balance sheet gearing2	25.8%	27.6%
Look through gearing	28.9%	29.5%
Total interest bearing debt3	$3,820m	$4,309m
Average borrowing cost4	5.3%	5.4%
Average debt maturity	4.3 yrs	4.2 yrs
Hedged percentage	59%	57%
Average hedge maturity	3.3 yrs	3.3 yrs
Moody’s / Fitch credit rating	A3/A-	A3/A-

Liquidity profile
	Facility	Drawn	Available
	limit	amount	liquidity
As at 31 December 2025	$m	$m	$m
Facilities due within 12 months5	—	—	—
Facilities due post 12 months5	4,820	3,820	1,000
Total5	4,820	3,820	1,000
Cash on hand			126
Total liquidity			1,126
Less facilities maturing <12 months5			—
Funding headroom			1,126

NTA per stapled security excludes intangibles, right of use assets, deferred tax assets and deferred tax liabilities, based on ordinary securities including EIS securities.
Net debt (at foreign exchange hedged rate) / (total tangible assets – cash).
Total interest bearing debt (at foreign exchange hedged rate).
WACD (including margins and line fees) represents the rate as at 31 December 2025. WACD over the 12 months to 31 December 2025 was 5.3% (5.7% for the prior corresponding period).
Based on hedged rate, not carrying value, subject to rounding.

1H26 Additional Information 18 February 2026

Debt & hedging profile

		Total amount	Amount drawn
Issue/source	Maturity date	$m	$m
Bank	Feb 2027	300	—
EMTN1	Mar 2027	501	501
Bank	Aug 2027	200	—
Bank	Sep 2027	425	75
USPP1	Sep 2027	249	249
EMTN1	Mar 2028	50	50
Bank USPP1	Sep 2028 Sep 2028	425 298	350 298
Bank	Sep 2029	425	350
MTN	Sep 2029	300	300
USPP1	Sep 2030	179	179
MTN	Mar 2031	400	400
USPP1	Sep 2031	139	139
EMTN1	Dec 2031	118	118
EMTN1 USPP1 EMTN1 USPP1 USPP1	Mar 2032 Sep 2032 Mar 2033 Mar 2034 Sep 2034	151 181 175 120 84	151 181 175 120 84
USPP1	Sep 2039	100	100
Total		4,820	3,820

Drawn amounts based on hedged rate not carrying value.

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Drawn debt maturities as at 31 December 2025
$700m
350
0
FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38 FY39 FY40 FY41 FY42 FY43 FY44 FY45 FY46
Bank USPP EMTN MTN
Debt drawn sources
Bank USPP EMTN MTN
20% 36% 26% 18%
Hedging & fixed interest profile 31 December 2025 [2]
$2,500m 4.0%
3.34%
3.33%
2,000
3.5
3.27%
3.17%
1,500
3.0
1,000
2.95%
2.90% 2.5
500
0 2.0
Dec 25 Jun 26 Jun 27 Jun 28 Jun 29 Jun 30
Swaps Options Fixed Average rate (RHS)
48
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Includes bank callable swaps.

1H26 Additional Information 18 February 2026

NTA & securities on issue reconciliation

Net tangible assets	$m
As at 1 July 2025	8,935
Operating profit for the half year	248
Revaluation of investment properties	41
Securities issued during the period	—
Other net equity movements and non-operating items through profit and loss	52
Distributions1	(186)
As at 31 December 2025	9,090
Securities on issue	No. of securities
As at 31 December 2025	3,945,860,217
NTA per stapled security2	$2.30

	1H26	FY25
Net tangible assets	$m	$m
Cash and Cash equivalents	126	236
Investment properties	7,884	8,149
‒ Office	4,086	4,350
‒ Industrial	1,472	1,432
‒ Retail	2,326	2,367
Investments in joint ventures and associates	3,494	3,099
Assets classified as held for sale	—	36
Inventory	1,993	2,372
Other financial assets	748	952
Other assets	144	114
Total tangible assets	14,389	14,958
Borrowings	3,931	4,464
Other financial liabilities	1,044	1,215
Other liabilities	324	344
Total liabilities	5,299	6,023
Net tangible assets	9,090	8,935
Number of securities on issue	3,945,860,217	3,945,860,218
NTA per security2	$2.30	$2.26

1H26 distribution is 4.7cpss payable on 26 February 2026.

NTA per stapled security excludes intangibles, right of use assets, deferred tax assets and deferred tax liabilities, based on ordinary securities including EIS securities.

1H26 Additional Information 18 February 2026

Investment

1H26 Additional Information 18 February 2026

Investment: portfolio overview

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Investment portfolio
(including co-investments)
$5.1bn $1.8bn $2.3bn $0.5bn $0.3bn ~$10bn
LIVING
Office Industrial Retail Build to Rent Land Lease Total
— —
Investment property valuations [1] $4,747m $1,816m $2,320m $8,883m
— —
Co-investments (at equity value) $393m $493m $267m $1,153m
No. of investment property assets [1] 17 12 9 — — 38
No. of co-investment property assets [3] 10 — — 5 32 47
Lettable area [1] 643,333 sqm 690,450 sqm 316,310 sqm n/a n/a 1,650,093 sqm
Occupancy (by area) 95.2% [2] 99.3% [2] 98.9% [2] 74.9% [4] 100.0% [4] 97.6% [2]
WALE (by income) [2] 5.5 yrs 5.6 yrs 3.3 yrs n/a n/a 5.0 yrs
WACR 6.08% [1] 5.30% [1] 5.67% [1] 4.30% 5.38% 5.69%
OFFICE STRIAL RETAIL ORENT LEASE TPORTFOLIO
U T D N
DNI DLIU NAL EMT
B SE
V
NI
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Investment portfolio
by sector5
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Office 51% Retail 23% Industrial 18% Living 8%

Excludes IPUC and properties held in co-investments. Valuations subject to rounding.
Stabilised portfolio, excluding IPUC and co-investments.
Includes properties held in co-investments but excludes properties that are jointly held with Mirvac directly.
BTR and Land Lease occupancy is by lot, excluding lots under development. BTR occupancy reflects total portfolio 12 month rolling occupancy.
Includes investment property valuations and co-investments (at equity value), but excludes IPUC.

1H26 Additional Information 18 February 2026

Investment: total investment value

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Investment portfolio movement
$10,500m
$120m
$51m $34m
$49m
$10,087m
$10,036m
10,000
($305m)
9,500
9,000
8,500
FY25 Co-investments [1] Development completions [2] Capex & incentives [3] Valuation movement [4] Disposals 1H26
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Includes net equity contributions and share of profit excluding revaluations for 1H26.
Practical completions at Aspect North, Sydney.
Includes straightlining of rental income and amortisation of incentives.
Movement includes co-investments, excludes IPUC and development completions.

1H26 Additional Information 18 February 2026

Investment: key ventures

Investment: key	ventures
						Mirvac	Mirvac
	Total	Number of				ownership	ownership	1H26
	assets	properties	Occupancy 1	WACR2	Gearing	stake	value3	EBIT
Office
MWOF	~$6.4bn	114	93.6%	6.00%	26.1%	8.6%	$393m	$15m
Industrial
Mirvac Industrial Venture	~$1.3bn	3	100%	5.09%	—	51%	$616m5	$9m
Living
Build to Rent Fund	~$1.7bn	5	74.9%	4.30%	33.0%	44%	$493m	$9m
Serenitas	~$1.4bn	32	100%	5.38%	49.7%	40%	$267m	$21m6

Excludes IPUC/developments. MWOF occupancy by income, BTR and Land Lease occupancy is by lot. BTR reflects rolling 12 month figure for total portfolio, including properties still stabilising.
Industrial Venture excludes IPUC.
Represents the equity value held by Mirvac at it’s ownership percentage as at 31 December 2025.
Includes property jointly held with Mirvac.
Includes development assets associated with Aspect North & South, Sydney, and SEED Stage 1, Sydney.
Reflects impact of ownership moving from 47.5% in prior period to current ownership of 40% and change in treatment of development expenditure. Like-for-like EBIT growth of 50% delivered in 1H26.

1H26 Additional Information 18 February 2026

Investment: key acquisitions & disposals

Acquisitions 1H26	State	Sector	Acquisitionprice	Settlement date
—	—	—	—	—
Total			—
Disposals 1H26	State	Sector	Saleprice1	Settlement date
23 Furzer Street,Canberra	ACT	Office	$305m	December 2025
Total			$305m

Sale price before transaction costs.

1H26 Additional Information 18 February 2026

Office

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380 St Kilda Road, Melbourne
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1H26 Additional Information 18 February 2026

Office: portfolio details[1]

	1H26	1H25
No. of properties2	17	20
NLA2 Portfolio valuations3 WACR Property net operating income (NOI) Like-for-like NOI growth Maintenance capex Incentive capex4 Occupancy (by area)	643,333 sqm $4,747m 6.08% $160m 2.4% $11m $25m 95.2%	735,181 sqm $5,397m 6.10% $171m 0.1% $7m $7m 95.2%
NLA leased	18,987 sqm	19,517 sqm
% of portfolio NLA leased	3.0%	2.7%
WALE (by area)2	6.2 yrs	6.6 yrs
WALE (by income)2	5.5 yrs	5.8 yrs

Reflects Office investment portfolio excluding MWOF equity co-investment.
Stabilised portfolio excluding IPUC.
Excludes co-investments equity values, IPUC, and the gross up of lease liability under AASB16. Subject to rounding.
Includes cash and fitout incentives.
By stabilised portfolio valuations, excluding IPUC and co-investment equity values.
By income, excludes lease expiries.

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Office geographic Office diversity Office rent
diversity [5] by grade [5] review structure [6]
Sydney 57% Premium 59% Fixed 88%
Melbourne 30% A grade 41% CPI linked 12%
Brisbane 8%
Perth 5%
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Office portfolio significantly younger than market

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23
Brisbane
3
27
Sydney
9.0
22
Melbourne
11.3
23
National
9.3
0 10 years 20 years
Mirvac office portfolio [7] JLL Market
Source: JLL Research, December 2025, Mirvac actuals December 2025
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Age represents since built or last significant refurbishment.

1H26 Additional Information 18 February 2026

Office: leasing details[1]

Office lease expiry profile: by income

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60% 59%
40
20
12%
9%
6% 6% 6%
2%
0
Vacant 2H26 FY27 FY28 FY29 FY30 FY31+
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Office top10 tenants2	Office top10 tenants2		Percentage3		Credit ratings
1 2	Government Westpac		12% 12%		— AA-
3	Commonwealth Bank		7%		AA-
4	Google		7%		AA+
5	EY		6%		—
6	Suncorp		4%		AA-
7	Deloitte		3%		—
8	Work Club		3%		—
9	AGL Energy		3%		Baa2
10	Optiver		2%		—
Total			59%
			Leasing	Average	Average
1H26 Leasingactivity		Area	spread	incentive	WALE4
Renewals		4,120 sqm	0.8%	28.3%	3.2 yrs
New Leases		14,867 sqm	4.8%	33.3%	6.6 yrs
Total Office		18,987 sqm	2.9%	32.6%	5.9 yrs
%	of Office portfolio NLA leased	3.0%

Reflects Office investment portfolio excluding MWOF equity co-investment. 2. Excludes Mirvac tenancies.
Percentage of gross office portfolio income.
By income.

1H26 Additional Information 18 February 2026

Office: research

Prime CBD net effective rents ($/sqm)

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$900/sqm
+11% yoy
450
+16% yoy
+1% yoy
+2% yoy
0
'05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25
Dec
Sydney CBD Melbourne CBD Brisbane CBD Perth CBD
Source: JLL Research, December 2025
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Total Prime office vacancy by market

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30%
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18%
15 15%
14%
10%
4.8%
0
'05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25
Dec
Sydney CBD Melbourne CBD Brisbane CBD Perth CBD Mirvac portfolio vacancy
Source: JLL Research, December 2025
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Net office supply as a proportion of total stock

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1.5% of existing stock
0
(1.5)
Sydney CBD Melbourne CBD Brisbane CBD
2026-2030 completions 30 yr average withdrawals (% of stock, annual)
2026-2030 net supply 30 yr average net supply (% of stock, annual)
Source: JLL Research December 2025, Mirvac Research calculations and forecast
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Premium office economic rents by city CBD

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$3,000
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2,000
1,000
0
Sydney CBD Melbourne CBD Brisbane CBD
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Urbis estimated economic rent ($/m2 gross face) JLL Prime gross face rent $sqm p.a. Source: JLL Research, Urbis December 2025

1H26 Additional Information 18 February 2026

Industrial

1H26 Additional Information 18 February 2026

Industrial: portfolio details

	1H26	1H25
No. of properties1	12	12
NLA	690,450 sqm	665,841 sqm
Portfolio valuations1	$1,816m	$1,672m
WACR Property net operating income (NOI)	5.30% $41m	5.39% $36m
Like-for-like NOI growth	12.5%	(3.3%)
Maintenance capex	$1m	—
Incentive capex2	—	$2m
Occupancy (by area)3	99.3%	96.3%
NLA leased	7,589 sqm	7,256 sqm
% of portfolio NLA leased	1.1%	1.1%
WALE (by area)	6.3 yrs	6.7 yrs
WALE (by income)	5.6 yrs	5.8 yrs

Industrial geographical diversity[4] Sydney 100%

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Industrial rent review structure [5]
Fixed 93%
CPI linked 7%
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Industrial diversity by sub market[6]

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Industrial diversity by grade
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Sydney Outer
South West 50%
Sydney Outer 87% Super Prime 37%
Central West 21% Super Prime / Prime 50%
Sydney Inner Prime Secondary 13%
West 15%
Sydney North 14%
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Excludes IPUC and properties being held for development.
Includes cash and fitout incentives.
By area, stabilised portfolio.
By portfolio valuations, excluding assets held in funds.
By income, excludes lease expiries.
Sub-market boundaries in line with JLL.

1H26 Additional Information 18 February 2026

Industrial: leasing details

Industrial: leasing details
Industrial lease expiry profile: by income 70% 0 10 20 30 40 50 60 2H26 FY27 FY29 FY28 9% Vacant FY30 FY31+ 3% 0% 6% 15% 2% 65%	Industrial top10 tenants Percentage1 Sector
	1 Woolworths Group 12% Retail Trade 2 Interactive 7% Information, Media & Telecommunication 3 Flexible Logistics 6% Transport, Postal & Warehousing 4 Thales Australia 5% Professional, Scientific & Technical Services 5 CEVA Logistics 5% Transport, Postal & Warehousing 6 Winning Appliances 5% Retail Trade 7 Legrand 4% Professional, Scientific & Technical Services 8 De'Longhi 4% Wholesale Trade 9 B Dynamic Logistics 3% Transport, Postal & Warehousing 10 ACFS Port Logistics 3% Transport, Postal & Warehousing
	Total 54%
	1H26 Leasingactivity Area Leasing spread Average incentive Average WALE2
	Renewals 5,437 sqm 12.9% 7.5% 5.0 yrs New Leases 2,152 sqm 6.8% 10.7% 3.3 yrs
	Total Industrial 7,589 sqm 11.1% 8.4% 4.5 yrs
	% of Industrial portfolio NLA leased 1.1%

Percentage of gross industrial portfolio income. 2. By income.

1H26 Additional Information 18 February 2026

Industrial: research

Sydney is one of the tightest industrial markets on the east coast

Historical industrial supply completions vs 10 year average

Greater Sydney

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5.0%
4.4%
3.6%
2.5
0.7%
0
Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Dec 24 Dec 25
Sydney Melbourne Mirvac portfolio vacancy
Source: SA1 Pro, December 2025
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Industrial land values have increased[1]

1,200 (000' sqm) 800 400 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Outer Central West Outer South West Inner West Outer North West South Sydney North Under construction 10yr average total supply completions Source: JLL Research, December 2025

Industrial Prime average incentives by capital city

Industrial land values vs cap rate

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$1,400/sqm
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10%

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$1,132/sqm
700 5
5.17%
0 0
Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Dec 24 Dec 25
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Average Sydney land values (2-5 Ha)($/sqm) (LHS) Sydney prime industrial cap rate (%) (RHS) Source: JLL Research, December 2025

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30%
26.3%
18.8%
15
8.4%
0
Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Dec 24 Dec 25
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Sydney Melbourne Mirvac portfolio vacancy Source: JLL Research, December 2025

Sydney vacancy rate is an average of all sub-markets unless specified otherwise.

1H26 Additional Information 18 February 2026

Retail

1H26 Additional Information 18 February 2026

Retail: portfolio details[1]

	1H26	1H25
No. of properties1	9	9
GLA2 Portfolio valuations3 WACR Property net operating income (NOI) Like-for-like NOI growth Maintenance capex Incentive capex4 Occupancy (by area) GLA leased % of portfolio GLA leased WALE (by area) WALE (by income) Specialty occupancy cost Total comparable MAT	316,310 sqm $2,320m 5.67% $69m 4.5% $8m $2m 98.9% 28,332 sqm 8.9% 4.0 yrs 3.3 yrs 14.5% $2,843m	314,317 sqm $2,207m 5.78% $63m 1.3% $9m $7m 98.5% 18,437 sqm 5.8% 4.3 yrs 3.3 yrs 14.1% $2,803m
Total comparable MAT productivity5	$11,539/sqm	$ 11,124/sqm
Total comparable MAT growth5	3.3%	2.6%
Specialties comparable MAT productivity5	$12,166/sqm	$11,374/sqm
Specialties comparable MAT growth5	5.7%	3.7%
New leasing spreads	(1.2%)	2.8%
Renewal leasing spreads	5.4%	1.0%
Total leasing spreads	4.1%	1.3%

Excludes IPUC.
Excludes 80 Bay Street, Ultimo.
Portfolio valuations excludes IPUC and the gross up of lease liability under AASB16.
Includes cash and fitout incentives.

Retail geographic Retail diversity Retail rent diversity[6] by grade[7] review structure[8]

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Regional 47% Fixed 82% Sub Regional 27% CPI linked 13% Outlet 20% Other 5% Neighbourhood 4% CBD Retail 2%

Sydney 65% Brisbane 30% Melbourne 5%

In line with SCCA guidelines.
By portfolio valuations. Brisbane includes Sunshine Coast. Excluding IPUC.
By portfolio valuations as per PCA classification. Excluding IPUC.
By income, excludes lease expiries.

1H26 Additional Information 18 February 2026

Retail: leasing details

Retail lease expiry profile: by income

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31%
30%
16% 16%
15 14% 13%
9%
1%
0
Vacant 2H26 FY27 FY28 FY29 FY30 FY31+
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Retail lease expiry profile: by area

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42%
40%
20
14%
12%
10% 11% 10%
0 1%
Vacant 2H26 FY27 FY28 FY29 FY30 FY31+
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Retail top10 tenants	Retail top10 tenants		Percentage1		Credit ratings
1	Coles Group		7%		BBB+ / Baa1
2	Woolworths Group		4%		BBB / Baa2
3	Wesfarmers		4%		A-/A3
4	Volkswagen Group Australia		3%		BBB+/Baa1/A-
5	Event Cinemas		2%		—
6	Aldi Food Stores		2%		—
7	Virgin Active Group		2%		—
8	Cotton On Group		1%		—
9	Super Retail Group		1%		—
10	Hoyts		1%		—
Total			27%
			Leasing	Average	Number of
1H26 Leasingactivity		Area	spread	incentive	deals done
Renewals		20,546 sqm	5.4%	0.3%	82
New Leases		7,786 sqm	(1.2%)	12.2%	48
Total Retail		28,332 sqm	4.1%	4.0%	130
%	of Retail portfolio NLA leased	8.9%

Percentage of gross retail portfolio income.

1H26 Additional Information 18 February 2026

Retail: sales by category

	1H26	1H26 Comparable	FY25 Comparable
Retail sales bycategory	Total MAT	MATgrowth	MATgrowth
Supermarkets	$946m	(0.3%)	(0.8%)
Discount department stores	$213m	(0.4%)	1.3%
Mini-majors	$588m	7.3%	1.4%
Specialties	$928m	5.7%	3.2%
Other retail	$209m	3.2%	2.1%
Total	$2,884m	3.3%	1.3%

		1H26	FY25
	1H26	Comparable	Comparable
Specialtysales bycategory	Total MAT	MATgrowth	MATgrowth
Food retail	$83m	7.7%	2.1%
Food catering	$258m	6.6%	1.9%
Jewellery	$30m	11.6%	12.6%
Mobile phones	$35m	(2.9%)	1.2%
Homewares	$34m	(5.1%)	0.9%
Retail services	$127m	13.4%	8.8%
Leisure	$24m	17.1%	1.0%
Apparel	$264m	4.3%	3.8%
General retail	$73m	(1.1%)	(1.6%)
Total specialties	$928m	5.7%	3.2%

Comparable MAT sales and foot traffic growth %

(Compared to same prior period)

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35%
30
25
20
15
10
5
0
(5)
(10)
(15)
(20)
Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec
2022 2023 2024 2025
Total centre Total specialties Foot traffic annual growth [1]
1. New traffic counting systems installed across the portfolio Q1 FY25. 66
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1H26 Additional Information 18 February 2026

Retail: research

Total completions by capital city

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Regional, Sub-regional, Neighbourhood - 3 year forecast
80,000 square metres
3 year forecast
40,000
0
2021 2022 2023 2024 2025 2026 2027 2028
Sydney Melbourne SEQ
Source: JLL Research, December 2025
Wages vs living costs
12%
8
Cost
of living
4 pressure
3.4%
2.6%
0
(4)
Sep 15 Sep 16 Sep 17 Sep 18 Sep 19 Sep 20 Sep 21 Sep 22 Sep 23 Sep 24 Sep 25
WPI Annual Growth % Living Costs index annual growth % Employee Households
Source: ABS, November 2025
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ANZ Job Ads Index (inverted) vs Unemployment rate
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0 Job Ads Index Unemployment rate 12%
100 6
108
4%
200 0
'85 '87 '89 '91 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11 '13 '15 '17 '19 '21 '23 '25
Nov
ANZ Job Ads Index (LHS, inverted) AU Unemployment Rate % (RHS)
Source: ANZ-Indeed, ABS, November 2025, seasonally adjusted
Household Saving Ratio above 20 year average
25 Ratio
20
15
10
5 6.4%
6.04%
0
(5)
'05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25
Sep
Household Saving Ratio 20 Year Average Ratio
Source: ABS, September 2025
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1H26 Additional Information 18 February 2026

Build to Rent

1H26 Additional Information 18 February 2026

Build to Rent: portfolio details

	1H26	1H25
No. of completed properties	5	3
No. of completed apartments	2,174	1,280
Co-investment equity value	$493m	$434m
WACR	4.30%	4.25%
Total portfolio leased1	78.5%	82.4%
Total portfolio occupancy1	74.9%	79.8%

BTR geographic diversity[2] Operational apartments

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VIC 67% NSW 15% QLD 18%

Rolling 12 month figure for total portfolio, including properties still stabilising. 1H25 has been restated as a 12 month rolling number. 2. Total portfolio, by apartment.

1H26 Additional Information 18 February 2026

Build to Rent: signifcant market scope for growth in Australia

Low penetration rate – presents material scale opportunity

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Estimated Institutional Real Estate market Australia
Share of the Australian residential dwelling market
% Housing stock BTR represents [1]
$400bn United States: 12%
Potential BTR market
United Kingdom: 5.4%
~$340bn
at 3% penetration Australia (currently): 0.4%
~$340bn, 445,000 units 300
200
Current
BTR pipeline
100
~$30bn,
~39,300 units +40%
~$30bn
~$21bn
0
BTR @ 3% BTR BTR Office Retail Industrial
Penetration (2024) Current pipeline
Source: ABS Total Dwellings, March 2025; BDO, The state of Build to Rent Q2 2025; MSCI All Property Dec 2024; Mirvac estimates
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EY Report, ABS Total Dwellings, Mirvac estimates.

1H26 Additional Information 18 February 2026

Build to Rent: research

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Vacancy remains tight in the rental market
Capital city vacancy rates
8%
4
1.5%
1.2%
0 1.2%
'10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25
Dec
Sydney Melbourne Brisbane
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Source: Cotality, December 2025. Seasonally Adjusted, 3 Month Moving Average

Deep pool of renters with >$100k pa household income

Gross household incomes and minimum rent afforded in 2021 bracketed (assumes affordability at 35% of income) Sydney, Melbourne, Brisbane

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30% 28%
24% ~42% of households >$100k pa
15 14% 14%
11%
9%
8%
0
$51,550-$77,949 $77,950-$103,949 $103,949-$129,948 $129,950-$155,949 $155,950-$207,949 >$207,950 All higher incomes
(afford rent (afford rent (afford rent (afford rent (afford rent (Rent >$1,400pw) >$130K
$347-$525pw) $526-$700pw) $701-$875pw) $876-$1050pw) $1,051-$1,400pw) (afford rent v>$875pw)
1996 2001 2006 2011 2016 2021
Source: 2021 ABS Census, not adjusted for inflation
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Rental Days on market remain low

Capital city rental days on market

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45 days
30
21
15 18
16
0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Nov
Sydney Melbourne Brisbane
Source: Proptrack, November 2025. 3 month moving average
Significant growth in renters
Past 15 year compound average growth rate (CAGR)
4% 4% 4%
3.5%
3% 3%
2 2% 2%
1%
0.3%
0
(2) (1%) (2%) (1%)
20-29 years 30-39 years 40-49 years 50-59 years
Owned outright Owned with mortgage Rented
Source: 2021 ABS Census Sydney, Melbourne, Brisbane
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1H26 Additional Information 18 February 2026

Land Lease

1H26 Additional Information 18 February 2026

Land Lease: portfolio details

	1H26	1H25
No. of communities	32	30
No. of occupied sites	5,230	4,803
No. of development sites	2,455	2,338
Co-investment equity value	$267m	$286m
WACR	5.38%	5.40%
Occupancy (by lot)	100%	100%
Sales1	298	199
Settlements2	253	209
Average settlement price3	~$616,500	~$540,000

Strong WA & QLD presence Occupied sites by state

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WA 52% QLD 39% NSW 7% VIC 2%

Development sites expand exposure to east coast Development sites by state

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WA 12% QLD 58% NSW 10% VIC 20%

Including 11 sales at Development Service Agreement (DSA) projects (these include unconditional and conditional). Sales include refundable expressions of interests (EOIs).
New home settlements includes 13 DSA related settlements.

6 month average price to 31 December 2025. Excludes GST and DSA Projects.

1H26 Additional Information 18 February 2026

Land Lease: pipeline projects

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Community Expected settlement profile (lots) [1]
facilities
Major projects State completed Pre-2H26 2H26 FY27 FY28 FY29 FY30 Post-FY30
The Anchorage Lifestyle Resort QLD 92 3
Thyme Lifestyle Resort Mareeba QLD 172 3
The Vantage Lifestyle Resort WA 205 3
Thyme Lifestyle Resort Evans Head NSW 160 4
Vibe Lifestyle Village WA 310 7
Thyme Lifestyle Resort Hervey Bay QLD 288 71
Helena Valley Lifestyle Village WA 313 67
The Outlook Lifestyle Resort WA 143 88
Lucas Lifestyle Estate VIC 114 92
Thyme Lifestyle Resort Bundaberg Springs QLD 91 112
Tuart Lakes Lifestyle Resort WA 344 133
Thyme Lifestyle Resort Lakeview Springs QLD 60 295
Thyme Lifestyle Resort Canungra QLD 25 142
Thyme Lifestyle Resort Rothwell QLD 12 178
Thyme Lifestyle Resort Forster NSW — 161
Thyme Lifestyle Resort Ocean Grove VIC — 205 +7
Thyme Lifestyle Resort Everleigh QLD — 220 new projects
Thyme Lifestyle Resort Palm Cove QLD — 361
Thyme Lifestyle Resort Sunbury VIC — 186
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Settlement timing and lot numbers subject to change depending on various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.

1H26 Additional Information 18 February 2026

Land Lease: Serenitas is one of Australia’s leading land lease operators

One of the largest operational portfolios in Australia[1]

12,000 homes 8,000 4,000 0

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Hometown Palm Lake Ingenia/Sun Serenitas Lifestyle Hampshire Stockland/ GemLife Lincoln AVID
Communities Halcyon Place
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Operational Development (with development consent)

Source: Chadwick Property Valuers, December 2025. Excluding homes in planning without development consent.

1H26 Additional Information 18 February 2026

Land Lease: research

Number of Australians intending to retire annually

Annual average Land Lease home supply required (to 2041)

ABS Estimate

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250,000 people
200,000
150,000
100,000
50,000
0
1985 1991 1997 2003 2009 2015 2021 2027 2033 2039
ABS Estimate of Retiring Persons Forecast Past 30yr average
Source: ABS, 2021. Mirvac Research, May 2024
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14,000 lots 4.5% 5%
4.0%
3.5%
3.0% [1] 8,950
7,000 5,400 7,150 2.5
3,600
0 3,000 3,000 3,000 3,000 0
2041 2041 2041 2041
Estimated current supply per annum (LHS) Estimated annual supply shortfall (LHS)
Penetration rate (RHS)
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Source: Chadwick Property Valuers, 1. Estimated current land lease penetration rate, measured as no. persons Mirvac estimates, December 2025 living in a Land Lease community as a percentage of the 50-84 years population at 2021

55+ Population growth

Australia's over 55 year old population is growing faster than remaining population

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45m people Population CAGR: Population CAGR:
0.96%
1.19%
30 14.6
9.5 1.48%
8.1 1.62%
15
25.6
19.4 21.2 0.69%
0.89%
0
2026 2036 2066
< 55 years > 55 years
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Source: Centre for Population 2026, Population Statement: National Population Projections, 2024-25 to 2035-36 and 2065-66, the Australian Government, Canberra, January 2026. 76

1H26 Additional Information 18 February 2026

Funds

1H26 Additional Information 18 February 2026

Funds: third party capital under management platform growth

Historical growth in third party capital under management[1]

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$20bn
$17.1bn $1.0bn $0.4bn $17.0bn
$0.1bn
$16.2bn
$15.4bn
15 ($0.7bn)
$10.4bn
10 $9.6bn
$9.0bn
$8.1bn
5
$2.8bn
0
FY16 FY19 FY20 FY21 FY22 FY23 FY24 FY25 New capital Capital raised Capital raised Net revaluation 1H26
raised in current in prior year, movement
half year, not deployed in
yet deployed current half year
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Includes external funds, developments and assets under management, and excludes Mirvac’s investment in those managed assets and vehicles.

1H26 Additional Information 18 February 2026

Funds: platform overview

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Third party capital under management [1]
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Funds and Assets under management

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$17bn
By vehicle type By investor domicile
Funds & Ventures 40% Overseas 55%
Joint Ventures 39% Australia 45%
Mandates 21%
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$25bn
$22.7bn
$22.0bn
20
15
$13.4bn
$12.4bn
10
5
0
Funds under management [2] Assets under management [3]
1H25 1H26
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Includes external funds, developments and assets under management, and excludes Mirvac’s investment in those managed assets and vehicles.
Funds Under Management (FUM) represents the total value of assets we generate fees by providing Investment Management services, includes Mirvac share.
Assets Under Management (AUM) represents the total value of capital where we generate fees by providing Property Management services, includes Mirvac share.

1H26 Additional Information 18 February 2026

Funds: research

Superannuation assets vs Super Guarantee contribution rate (%)

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$4,500bn 12.0%
11.0
2,250
10.0
0 9.0
FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27
Assets (LHS) Super Guarantee Rates (RHS)
Source: Association of Superannuation Funds of Australia (ASFA)
December 2025, ATO Super Guarantee Rates as at 1 April 2025
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Investors preferred investment locations for 2026

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90%
45
0
Sydney Tokyo Melbourne Osaka Other Seoul Other Singapore India
Aus cities Japan cities
Source: ANREV Investment Intentions Survey Asia Pacific January 2026
Investors preferred investment city and sectors for 2026
80%
40
0
Sydney Tokyo Sydney Melbourne Osaka Sydney Melbourne Sydney Melbourne Seoul
Resi Resi Logistics Resi Resi Office Logistics Student Student Logistics
Accom Accom
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Source: ANREV Investment Intentions Survey Asia Pacific January 2026

1H26 Additional Information 18 February 2026

Development

1H26 Additional Information 18 February 2026

Commercial & Mixed Use

1H26 Additional Information 18 February 2026

Commercial & Mixed Use: recently completed & pipeline projects

Sector Area / lots Mirvac Ownership Pre- leased1 % Estimated value on completion2 Estimated yield on cost3	Expected project timing4 1H26 2H26 FY27 FY28 FY29+	Expected project timing4 1H26 2H26 FY27 FY28 FY29+
Recently completed LIV Anura, Brisbane BTR 396 44% n/a n/a n/a LIV Albert, Melbourne BTR 498 44% n/a n/a n/a Waterloo Metro Quarter, Sydney (Southern Precinct) Mixed-Use 505 50% n/a ~$0.2bn n/a Aspect Kemps Creek, Sydney (Warehouse 1, 2, 3 & 9) Industrial ~146,400 sqm 51% 100% ~$0.4bn >5.5%


		COMMERCIAL &
		MIXED USE TOTAL

		PIPELINE EXPECTED
		END VALUE2
Committed Aspect Kemps Creek, Sydney (Warehouse 6, 7 & 8) Industrial ~66,700 sqm 51% 70% ~$0.3bn >6.5% 7 Spencer Street, Melbourne Office ~46,600 sqm 50% 24% ~$0.6bn ~5.5% 55 Pitt Street, Sydney Office ~62,500 sqm 33% 40% ~$2.0bn >6% Harbourside, Sydney Mixed-Use ~35,200 sqm 50% 22% ~$0.7bn n/a SEED Badgerys Creek, Sydney (Stage 1) Industrial ~140,000 sqm 51% 0% ~$0.7bn >6%		~~~$7bn~~









Uncommitted Aspect Kemps Creek, Sydney (Central) Industrial ~31,000 sqm 100% n/a ~$0.1bn n/a Waterloo Metro Quarter, Sydney (Northern and Central Precinct) Mixed-Use ~36,000 sqm/150 50% n/a n/a n/a SEED Badgerys Creek, Sydney (Stage 2) Industrial ~235,000 sqm 100% n/a ~$1.3bn n/a 90 Collins St, Melbourne Office ~34,000 sqm 100% n/a n/a n/a







	Planning Construction

% of space pre-leased, including non-binding heads of agreements. Areas are approximate, subject to rounding.
Represents 100% expected end value / revenue (including GST) including where Mirvac is only providing Development Management Services, subject to various factors outside Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.
Expected yield on cost including land and interest.
Project timing subject to change due to various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.

1H26 Additional Information 18 February 2026

Residential

1H26 Additional Information 18 February 2026

Residential: unique offering across product types and locations

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Residential development Optionality across states, product type and locations
~$2.2bn ~$21.0bn ~$1.6bn
capital employed expected revenue [1] pre-sales [2]
Outer ring
WA
Henley Brook NT
Middle ring Darling Bullsbrook
QLD QLD 2 2
Inner ring Everleigh WA
Kindira Monarch Glen
NSW
Riverlands
NSW VIC Highforest NSW
Green Square The Albertine WSU Milperra Cobbitty 1 2 SA
NINE Prince & Parade Everdene Mulgoa
Harbourside Yarra’s Edge The Village
VIC 3 3 4
Googong NSW
The Fabric
WA QLD
Wantirna South
The Peninsula Ascot Green
VIC ACT
Waterfront
Woodlea
Olivine VIC
Smiths Lane
3 2 3
Inner Middle Outer
TAS
A
p
A
a
p
r
t
a
m
r
e
M
t
n
P
t
m
C
s
e
&
n
M
t
s
P
C
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Pipeline value represents 100% expected revenue (including GST), subject to various factors outside Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. 2. Represents Mirvac’s share of total pre-sales contract value and includes GST. Subject to rounding.

1H26 Additional Information 18 February 2026

Residential: pipeline positioning | 27,329 pipeline lots | ~$21.0bn pipeline value[1]

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Share of expected Share of expected Pipeline lots Pipeline lots by product
future revenue future revenue by structure
by product [2] by geography [2]
Pipeline lots by price point: Pipeline lots by price point:
masterplanned communities [4] apartments [4]
Masterplanned communities 55% NSW 37%
Apartments 45% QLD 28% 100% Mirvac Masterplanned communities 84%
balance sheet [3] 26% Apartments 16%
VIC 27%
<$500k 72% <$1.2m 24%
WA 8% PDA / DMA 49%
JVA 20% >$500k 28% >$1.2m 76%
JO 5%
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Pipeline value represents 100% expected revenue (including GST), subject to various factors outside Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.
Mirvac share of forecast revenue, subject to various factors outside of Mirvac’s control including planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. Includes GST. 3. Includes projects on capital efficient deferred terms.
Price point includes GST.

1H26 Additional Information 18 February 2026

Residential: masterplanned communities pipeline (key projects)

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Total Expected settlement profile (lots) [2]
project value
Major projects State Stage Ownership Type (incl. GST)1 Pre-FY26 2H26 FY27 FY28 FY29 FY30 Post-FY30 Masterplanned
communities project
The Village NSW Multiple stages PDA House & Land $210m 278 101 — pipeline analysis
The Fabric VIC Multiple stages 100% House $245m 159 81 —
Highforest NSW Multiple stages JVA House $445m 9 156 —
Cobbitty NSW Multiple stages JVA House & Land $690m 269 676 — ~90%
Riverlands NSW Multiple stages 100% House $448m 58 254 — % OF TOTAL FY26
EXPECTED LOTS
Henley Brook WA Multiple stages 100% Land $310m 440 448 — TO SETTLE FROM
MASTERPLANNED
Smiths Lane VIC Multiple stages 100% & JO House & Land $1,340m 1,798 1,414 — COMMUNITIES
Googong NSW Multiple stages JVA House & Land $2,160m 3,201 842 1,029
Woodlea VIC Multiple stages JVA House & Land $2,040m 5,367 1,110 1
Everleigh QLD Multiple stages 100% Land $1,180m 1,432 1,119 704
Olivine VIC Multiple stages 100% & DMA House & Land $1,800m 1,374 1,249 1,937
Darling Bullsbrook WA Multiple stages 100% Land $410m — 532 668
Kindira Monarch Glen QLD Multiple stages PDA Land $3,160m — 1,068 6,271
+5
Everdene Mulgoa NSW Multiple stages JVA House & Land $1,230m — 1,125 74 ADDITIONAL
COMMUNITIES
WSU Milperra NSW Multiple stages PDA House $550m — 357 28 SETTLING FROM
FY27+
Wantirna South VIC Multiple stages PDA House & Land $1,360m — 509 1,208
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Note: PDAs are development service contracts and there is no land ownership to Mirvac.

Approximate and indicative only and subject to change. Project value includes past revenues and expected future revenues, at 100% expected end value, and will depend on various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. Subject to rounding.
Settlement timing and lot numbers subject to change depending on various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.

1H26 Additional Information 18 February 2026

Residential: apartments pipeline (key projects)

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Total Expected settlement profile (lots) [3]
Pre-sold [ 1] pipeline value
Major projects State Stage % Ownership (incl. GST)2 Pre-FY26 2H26 FY27 FY28 FY29 FY30 Post-FY30
Apartments project
NINE Willoughby NSW All stages 95% 100% $740m 387 30 — pipeline analysis
The Albertine VIC All stages 57% 100% $210m — 98 —
Waterfront QLD Isle 92% 100% $250m — 124 —
+5
Highforest NSW All stages 51% JVA $400m — 249 — APARTMENTS
COMMENCING
Prince & Parade VIC All stages 39% 100% $300m — 169 — SETTLEMENTS
~60% PRE-SOLD [1]
Yarra's Edge VIC Trielle 67% 100% $400m — 192 —
Harbourside NSW All stages 85% JVA $1,630m — 260 —
Ascot Green QLD Future stages Not released PDA $700m — 269 392
Yarra's Edge VIC Future stages Not released 100% $500m — 133 188 ~10%
Green Square NSW Future stages Not released 100% $1,610m — 1,030 40
% OF TOTAL FY26
The Peninsula WA Future stages Not released 100% $710m — 253 120 TO SETTLE FROM EXPECTED LOTS
The Fabric VIC Future stages Not released 100% $320m — 144 233 APARTMENTS
Waterfront QLD Future stages Not released 100% $385m — 126
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Note: PDAs are development service contracts and there is no land ownership to Mirvac.

Pre-sales based on released lots. Excludes deposits. Subject to rounding.
Approximate and indicative only and subject to change. Project value includes past revenues and expected future revenues, at 100% expected end value, and will depend on various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. Subject to rounding.
Settlement timing and lot numbers subject to change depending on various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.

1H26 Additional Information 18 February 2026

Residential: pre-sales detail

Reconciliation of movement in exchanged pre-sales contracts to 1H26[1]

Pre-sales by geography[1]

Pre-sales by type[1]

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$3,000m
$665m
2,500 NSW 52%
60% 36% VIC 35% MPC 28%
QLD 12%
WA 1%
2,000 $1,869m 40% 64%
$1,630m
20%
1,500 ($904m)
28% Pre-sales by buyer profile [ 1, 2] Pre-sales expected roll-off [1]
1,000
80%
500 72%
Owner occupier 69% 2H26 26%
Investor 19% FY27 46%
First Home Buyer 7% FY28+ 28%
0 Offshore 5%
FY25 1H26 1H26 1H26
Pre-sales balance exchanges settlements [3] Pre-sales balance
Apartments MPC
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Apartments 72%
MPC 28%
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Represents Mirvac’s share of total pre-sales contract value and includes GST. Subject to rounding. 2. Buyer profile information approximate only and based on customer surveys.
Includes adjustments to prior pre-sales balance as a result of changes in Mirvac’s ownership share.

1H26 Additional Information 18 February 2026

Residential: 1H26 acquisitions & additional pipeline projects

Project	State	Ownership	No. of lots1	Product type	Estimated settlement commencement1
Acquisitions / agreements
—
Additional pipeline projects
Cobbitty	NSW	50%	64	Land	FY28
Total acquisitions and additional pipeline projects			64

Settlement timing and lot numbers are subject to change depending on various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.

1H26 Additional Information 18 February 2026

Residential: 2H26 expected major releases

Masterplanned communities	State	Type	Approximate lots1
Kindira Monarch Glen	QLD	Masterplanned communities - land	150
Cobbitty	NSW	Masterplanned communities - land & house	140
Olivine	VIC	Masterplanned communities - land & house	105
Everdene Mulgoa	NSW	Masterplanned communities - land & house	100
Everleigh	QLD	Masterplanned communities - land	90
Woodlea	VIC	Masterplanned communities - land & house	80
Henley Brook	WA	Masterplanned communities - land	80
Googong	NSW	Masterplanned communities - land & house	75
Riverlands	NSW	Masterplanned communities - house	60
Darling Bullsbrook	WA	Masterplanned communities - land	50
Other	Various	Masterplanned communities - land & house	70
Masterplanned communities major releases			~1,000
Apartments	State	Type	Approximate lots1
Harbourside	NSW	Apartments	24
Apartments major releases			24
Total major releases			~1,024

Subject to change depending on various factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.

1H26 Additional Information 18 February 2026

Residential: 1H26 settlements | 835 lot settlements

	Apartments Lots %	Masterplanned communities Lots %	Total
			Lots %
NSW QLD VIC WA	85 10% 34 4% — — — —	252 30% 122 15% 323 39% 19 2%	337 40% 156 19% 323 39% 19 2%
Total	119 14%	716 86%	835 100%

1H26 lot settlements

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By product type
Apartments 14%
Masterplanned communities 86%
Land 63%
House 23%
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By geography
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NSW 40%
VIC 39%
QLD 19%
WA 2%
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By structure
100% balance sheet 38%
JVA 39%
PDA 12%
JO 11%
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Note: PDAs are development service contracts and there is no land ownership to Mirvac.

1H26 Additional Information 18 February 2026

Residential: 1H26 settlements detail

1H26 Major settlements	Product type	Ownership	Lots
Woodlea, VIC	Masterplanned communities	JVA	187
Everleigh, QLD	Masterplanned communities	100%	122
Smiths Lane, VIC	Masterplanned communities	100% & JO	102
Cobbitty, NSW	Masterplanned communities	JVA	85
NINE, NSW	Apartments	100%	82
Riverlands, NSW	Masterplanned communities	100%	56
Googong, NSW	Masterplanned communities	JVA	46
The Village, NSW	Masterplanned communities	PDA	41
Charlton House, QLD	Apartments	PDA	32
Olivine, VIC	Masterplanned communities	100% & DMA	26
Subtotal			779
Other projects			56
Total			835

1H26 settlement buyer profile

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Upgraders/empty nesters 41% Investors 34% First home buyers 25%

1H26 settlements average sales price[1]

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Apartments
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House
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1H26 settlement buyer profile by geography

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Domestic 100% Offshore 0%

Land

~$1.8m ~$1.04m ~$458k

Note: PDAs are development service contracts and there is no land ownership to Mirvac. 1. Inclusive of GST.

1H26 Additional Information 18 February 2026

Residential: EBIT reconciliation and gross development margin

		1H26	1H25
Residential EBIT reconciliation		$m	$m
Total revenue	A	799	651
Total cost of development and construction	B	(661)	(525)
Residential Gross Margin	C = A + B	138	126
Residential Gross Margin (%) Residential Gross Margin (%) excluding impaired lots settled in 1H26	D = C / A	17.3% 22.5%	19.4%2
Other expenses1	E	(28)	(25)
Total costs	F = B + E	(689)	(550)
Residential EBIT	G = F + A	110	101
Residential EBIT Margin (%) Residential EBIT Margin (%) excluding impaired lots settled in 1H26	H = G / A	13.8% 17.9%	15.5%2

No impaired lots in 1H25.
Includes Sales and Marketing, Employee and Other expense.

1H26 Additional Information 18 February 2026

Residential: research

Strong population growth

Australia – net visa arrivals vs net overseas migration 600,000 people

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400,000
200,000
0
(200,000)
Nov 15 Nov 16 Nov 17 Nov 18 Nov 19 Nov 20 Nov 21 Nov 22 Nov 23 Nov 24 Nov 25
Net Temporary Student Visa arrivals Net Permanent Visa Arrivals Net NZ Arrivals
Net Temporary Skilled and Work Visa arrivals Net Overseas Migration
Source: ABS, November 2025, Rolling annual sum
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Net Land Sales per month trending up Number of lots sold

3,000

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1,500
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1,106
911
859
0 188
Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Dec 24 Dec 25
NSW VIC SEQ WA
Source: Macrobond, Research4, December 2025
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Cumulative housing undersupply since 2024

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

0 houses
(100,000)
165,000
(200,000) undersupply of houses
2024 2025 2026 2027 2028 2029
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Source: ABS Building Activity 2025, National Housing Supply and Affordability Council May 2025

Price differential of Houses to Apartments

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

110%
103%
80
57%
50 58%
59%
20
Dec 17 Dec 18 Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Dec 24 Dec 25
Greater Sydney Greater Melbourne Greater Brisbane Greater Perth
Source: PropTrack, December 2025, 75th Percentile dwellings
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1H26 Additional Information 18 February 2026

Calendar

1H26 Additional Information 18 February 2026

FY26 Calendar

FY26 Calendar
Event	Location	Date1
Private roadshow	Sydney	19-20, 24-26 February 2026
Private roadshow	Melbourne	23 February 2026
2026 Citi Global Property CEO Conference & USA Roadshow	Miami, USA	2-5 March 2026
JP Morgan 2026 Asia REITs Forum	Singapore / Hong Kong	9-12 March 2026
3Q26 Operational update	—	23 April 2026
Macquarie Australia Conference 2026	Sydney	5 May 2026
FY26 Results briefing	—	19 August 2026

All dates are indicative and subject to change.

1H26 Additional Information 18 February 2026

Glossary

Term Meaning

Term	Meaning
A-REIT	Australian Real Estate Investment Trust
AFFO	Adjusted Funds from Operations
AUM	Assets under management
BPS	Basis Points
BTR	Build to Rent
CBD	Central Business District
COGS	Cost of Goods Sold
CPSS DA	Cents Per Stapled Security 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	Earnings before interest and tax
EIS	Employee Incentive Scheme
EMTN	Euro Medium Term Note
EPS	Earnings Per Stapled Security
FFO	Funds from Operations
FHB	First Home Buyer
FIRB	Foreign Investment Review Board
FUM	Funds under management
FY	Financial Year
GLA	Gross Lettable Area
ICR	Interest Cover Ratio
IPUC	Investment properties under construction
IRR	Internal Rate of Return
JO	Joint Operation – A joint arrangement whereby the parties that have joint control of the arrangement have
	rights to the assets, and obligations for the liabilities, relatingto the arrangement.
JVA	Joint Ventures and Associates

Term Meaning

Term	Meaning
LFL	Like-for-like
LTIFR	Lost Time Injury Frequency Rate
MAT	MovingAnnual Turnover
MGR	Mirvac Group ASX code
MPT	Mirvac Property Trust
MTN	Medium Term Note
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
	(i.e. 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 2,000 sqm office space
NLA	Net Lettable Area
NOI	Net OperatingIncome
NPAT	Net Profit After Tax
NTA	Net Tangible Assets
Operating	Operating profit reflects the core earnings of the Group, representing statutory profit adjusted for specific
Profit	non-cash items and other significant items.
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
SQM	Square metre
USPP	US Private Placement
WACR	Weighted Average Capitalisation Rate
WALE	Weighted Average Lease Expiry

1H26 Additional Information 18 February 2026

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 nor 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 and which can cause 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 does it guarantee the repayment of capital from Mirvac or any particular tax treatment.

This Presentation contains certain “forward looking” statements. The words “expected”, “forecast”, “estimates”, and other similar expressions are intended to identify forward looking statements. This Presentation includes forward looking statements, opinions and estimates which are based on assumptions and contingencies which can change without notice due to factors outside of Mirvac’s control such as planning outcomes, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. The Presentation also includes statements about market and industry trends which are based on interpretations of current market conditions which can also change without notice again due to factors outside of Mirvac’s control. 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. Where the term operating environment is used, it is intended to cover impacts on both Mirvac, and the broader market operating conditions and macro economic conditions.

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 2025, 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 2025, unless otherwise noted.

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Thank You

CONTACT

Gavin Peacock, CFA | General Manager, Investor Relations [email protected]

AUTHORISED FOR RELEASE BY

The Mirvac Group Board

MIRVAC GROUP

Level 28, 200 George Street, Sydney NSW 2000

REPORTING SUITE

The Investor Presentation forms part of Mirvac’s broader reporting suite in relation to Mirvac’s financial and non-financial performance for 1H26. The full suite can be accessed here https://www.mirvac. com/investor-centre/results-and-announcements/reporting-suite

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mirvac.com

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MIRVAC GROUP — Interim / Quarterly Report 2026

65328_rns_2026-02-17_cff3d6b2-db23-4c81-9e64-6d39242e1122.pdf

Contents

59 Industrial

63 Retail

Development

84 Residential

Overview

Our competitive advantage

Mirvac is a leading, diversified Australian property group

8,702

Deep platform value

INTEGRATED COMMERCIAL & MIXED USE DEVELOPMENT PLATFORM

Sustainability commitment

Our decarbonisation journey

Our plan to decarbonise by 2030[1]

1 $100million Social procurement spend goal achieved five years early

Examples of our supplier engagements:

Mates on the move

Reground

Muru Mittigar

Financial

1H26 & 1H25 operating to statutory result reconciliation

1H26 EBIT movement by segment

1H26 Investment income reconciliation by segment

FFO & AFFO based on PCA guidelines

Finance costs by segment

Progressing towards Invested Capital targets

Capital management metrics & liquidity profile

Capital management metrics

Liquidity profile

Debt & hedging profile

NTA & securities on issue reconciliation

Investment

Investment: portfolio overview

Investment: total investment value

Investment: key ventures

Investment: key acquisitions & disposals

Office

Office: portfolio details[1]

Office portfolio significantly younger than market

Office: leasing details[1]

Office lease expiry profile: by income

Office: research

Prime CBD net effective rents ($/sqm)

Total Prime office vacancy by market

Net office supply as a proportion of total stock

Premium office economic rents by city CBD

Industrial

Industrial: portfolio details

Industrial: leasing details

Industrial: research

Historical industrial supply completions vs 10 year average

Industrial land values have increased[1]

Industrial Prime average incentives by capital city

Retail

Retail: portfolio details[1]

Retail: leasing details

Retail lease expiry profile: by income

Retail: sales by category

Comparable MAT sales and foot traffic growth %

Retail: research

Total completions by capital city

Build to Rent

Build to Rent: portfolio details

Build to Rent: signifcant market scope for growth in Australia

Build to Rent: research

Deep pool of renters with >$100k pa household income

Rental Days on market remain low

Land Lease

Land Lease: portfolio details

Land Lease: pipeline projects

Land Lease: Serenitas is one of Australia’s leading land lease operators

Land Lease: research

Annual average Land Lease home supply required (to 2041)

55+ Population growth

Funds

Funds: third party capital under management platform growth

Funds: platform overview

MIRVAC GROUP Interim / Quarterly Report 2026