MIRVAC GROUP — Investor Presentation 2009

Aug 24, 2009

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25 August 2009

MIRVAC GROUP – AIFRS RECONCILIATION

Mirvac Group [ASX: MGR] advises that page 29 of the Annexure FY09 Results Presentation, AIFRS Reconciliation, has been amended to enhance consistency between the prior year resulting in the reallocation of interest from within eliminations to the Investment Division.

This reallocation does not change the Group’s operating EBIT.

Attached is a copy of the updated slide.

For more information, please contact:

Adam Crowe Group Investor Relations +61 2 9080 8652

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FY09 aiFrs reconciliation

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Development Investment	External Hotel Funds Mgt Unallocated Eliminations Tax Total Investment Management
npatbefore oei — aiFrs (354.7) (546.3) (221.0) 12.3 (42.2) 7.4 65.3 (1,079.2)
less: oei 0.1 1.0 1.1
NPAT — AIFRS (354.7) (546.2) (221.0) 12.3 (42.2) 8.4 65.3 (1,078.1)
less: netlossesfrom fair value of investment properties (excluding owner-occupied) 515.6 (28.4) 487.2
net losses on fair value of derivative fnancial instruments and associated foreignexchangemovements 110.3 (6.3) 104.0
expensing ofsecurity based payments 7.1 7.1
depreciation of owner-occupied investment properties, hotels and hotel managementlots (includinghotelproperty, plant and equipment) 1.4 5.0 6.4
straight line of lease revenue (1.2) (1.2)
amortisation of lease incentives 10.1 (1.8) 8.3
net losses from fair value of investment properties, derivatives and other specifc non-cash items included in share of associates losses 0.4 141.2 1.9 7.4 150.9
net gains from fair value of investment properties, derivatives and other specifc non-cash items included in minorityinterest (3.4) (2.9) (6.3)
impairment of investment included in share of net loss of associates andjoint ventures 20.3 12.9 33.2
impairment of investment includingassociates andjoint ventures 10.0 16.3 15.2 0.2 41.7
impairment of loans 40.7 2.0 42.7
provision for loss on inventory 186.5 186.5
impairment ofgoodwill,management rights and other intangibles 125.9 146.7 1.0 273.6
net losses from signifcant other items included in minorityinterest (1.0) (1.0)
tax effect of non-cash and other signifcant adjustments (54.2) (54.2)
OPAT 29.1 242.7 (42.3) 13.7 (41.2) (12.3) 11.1 200.8
add-back oei (0.1) (1.0) (1.1)
add-back tax (11.1) (11.1)
add-back interest 43.9 7.8 6.3 (0.4) 9.2 (1.9) 64.9
Operating proft — EBIT 73.0 250.4 (36.0) 13.3 (32.0) (15.2) 253.5

Mirvac Group FY09 results presentation 25 auGust 2009

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