MIRVAC GROUP — Investor Presentation 2012

Apr 30, 2012

==> picture [532 x 145] intentionally omitted <==

Mirvac property trust nsw investor tour

1 May 2012

Mirvac property trust nsw investor tour 1 May 2012

itinerary

12.30pm	registration and Lunch
1.00pm	Fy12 Q3 operational update
	nicholas collishaw, Managing Director — Mirvac Group
1.30pm	Mirvac property trust strategic overview
	andrew Butler, chief executive offcer — investment
1.45pm	property and Facilities Management
	chris Luscombe, General Manager — Mirvac asset Management
1.50pm	sustainability at Mirvac
	alicia Maynard, sustainability Manager — Group strategy
1.55pm	end
	property tour Begins
2.10pm	arrive Level 30, 20 Bond street, sydney
2.15pm	Ben Hindmarsh, General Manager — offce and industrial: update—8 chifey square, sydney and 190 George street, sydney
2.45pm	Depart Bond street for tour of 8 chifey square, sydney
3.00pm	tour 8 chifey square, sydney
3.40pm	susan MacDonald, General Manager — retail:
	Bus departs to Broadway shopping centre
4.10pm	tour of Broadway shopping centre, sydney
4.40pm	Depart Broadway shopping centre cBD
5.10pm	property tour ends (Jamison street cBD)

Mirvac group 1

contents

2	8 chifey square, sydney
4	190-200 George street, sydney
6	Broadway shopping centre, sydney

2 Mirvac property trust nsw investor tour 1 May 2012

8 cHiFLey sQUare, syDney

==> picture [511 x 214] intentionally omitted <==

artists impression of a three level village

Mirvac’s integrateD MoDeL

owner Development construction Mirvac capital investments leasing asset Management Mpt (50%) Mirvac Developments Mirvac constructions 50% sell down to Kreit Mirvac investments Mirvac asset Management

Description

with its distinctive contemporary design and leading sustainability features, 8 chifley square will set a new benchmark for sydney’s premium office towers. 8 chifley square will have approximately 19,100 square metres of net lettable area (nLa) and stand 34 storeys high.

on completion, it will incorporate 21 office and two terrace levels with seven unique villages providing unparalleled connectivity, interaction and amenity through vertical integration.

suMMary inForMation – 31 MarcH 2012

cost to coMpLete:	$97.2 MiLLion1
Forecast coMpLetion Date:	aUgUst 2013
ownersHip strUctUre:	50% Mirvac / 50% K-reit
net LettabLe area:	19,100sQM
oFFice FLoors:	21
site area:	1,581 sQM
viLLage size range:	1,800 – 2,880sQM
% space coMMitteD:	42%

upDate

the development is on target for completion in august 2013 and has 42 per cent of nLa committed to corrs chambers westgarth over levels 9 to 18 inclusive.

sustainaBility creDentials

8 chifley square has recently been awarded a 6 star Green star — office Design v2 rating from the Green Building council of australia demonstrating world leadership in office design. target 5 star naBers energy.

enhanced sustainability features will include tri-generation, blackwater treatment, chilled beam mechanical system and a high volume of natural ventilation.

1) as at 31 March 2012. including interest, excluding land.

Mirvac group 3

notes

artists impression of 8 chifley square, sydney

==> picture [200 x 313] intentionally omitted <==

==> picture [96 x 315] intentionally omitted <==

corrs chambers westgarth 42% nLa

4 Mirvac property trust nsw investor tour 1 May 2012

190-200 george street, syDney

==> picture [511 x 228] intentionally omitted <==

Mirvac’s integrateD MoDeL

owner Development construction 100% Mirvac Mirvac Developments Mirvac constructions

Mirvac capital investments leasing asset Management potential part share sell-down Mirvac investments Mirvac asset Management

Description

190-200 George street is being designed to redefine sydney’s gateway skyline. 38 levels high, the tower will contain 33 office floors with an expected net lettable area (nLa) of approximately 39,000 square metres.

the city of sydney’s alternative planning controls for this site bound by alfred, pitt, Dalley and George streets, (apDG Lep controls), allows Mirvac to increase the towers height limit from 110 metres to 155 metres.

suMMary inForMation – 31 MarcH 2012

cost to coMpLete:	$475.0 MiLLion1
Forecast coMpLetion Date:	MiD 2016
ownersHip strUctUre:	100% Mirvac
net LettabLe area:	39,000sQM
oFFice FLoors:	33
site area:	3,147 sQM
average FLoor pLate:	1,200 sQM
DeveLopMent appLication:	stage 2 Da
	to be LoDgeD MiD 2012
project coMMenceMent:	on pre-coMMitMent

upDate

stage 2 of the Da to be lodged mid 2012, with the project to commence upon pre-commitment. when complete, the new premium grade tower will boast superb city and harbour views.

sustainaBility creDentials

Designed to achieve the highest Green star credentials (6 star Green star – office Design v3). 5 star naBers energy.

1) as at 31 March 2012. including interest, excluding land.

Mirvac group 5

notes

artists impressions of 190-200 George street, sydney

==> picture [204 x 313] intentionally omitted <==

==> picture [161 x 313] intentionally omitted <==

==> picture [38 x 6] intentionally omitted <==

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

site location
----- End of picture text -----

==> picture [141 x 170] intentionally omitted <==

6 Mirvac property trust nsw investor tour 1 May 2012

broaDway sHopping centre

==> picture [511 x 228] intentionally omitted <==

Mirvac’s integrateD MoDeL

owner Mirvac capital investments Mpt (50%) 50% partner perron Group

leasing asset Management Mirvac investments Mirvac asset Management

Description

Broadway shopping centre is a sub-regional shopping centre located on the fringe of the sydney central business district, servicing the growing catchment of sydney’s inner city and inner west.

Broadway is one of the most successful retail centres in australia, generating over $400 million in sales per annum and attracting over 13 million visitors per year. in 2011, the centre maintained its number two ranking for the third consecutive year in the shopping centre news (scn) Big Guns awards[ 1] for annual turnover per square metre.

suMMary inForMation – 31 MarcH 2012

gLa:		50,952 sQM
acQUisition Date:		janUary 2007
		$231.5 MiLLion
booK vaLUe:	as at 31 DeceMber 2011 (50% sHare)
		expanDeD anD
constrUction perioD:		reFUrbisHeD in 2007
		50% Mirvac /
ownersHip strUctUre:		50% perron groUp

==> picture [249 x 175] intentionally omitted <==

1) national ranking of shopping centres with a GLa in excess of 45,000sqm. published in shopping centre news, volume 30, number 1, 2012.

Mirvac group

7

notes

population of Moving annual turnover projected to grow at rate of 1.3% to 1.7% p.a. through to 2021[ 1]

==> picture [282 x 216] intentionally omitted <==

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

2
3
4
1
----- End of picture text -----

1 seconDary soutH 2 seconDary west

sUbUrbs: newtown, aLexanDria, petersHaM, MarricKviLLe,stanMore popULation: 65,230 growtH %: +1.0% Forecast 2021: +0.8%	sUbUrbs: LeicHHarDt, annanDaLe,baLMain
	popULation: 62,350
	growtH %: +0.5%
	Forecast 2021: +0.4%

4 seconDary east

3 priMary

sUbUrbs: gLebe, pyrMont, ULtiMo,cHippenDaLe popULation: 76,400 growtH %: +2.6% Forecast 2021: +2.0%	sUbUrbs: syDney, DarLingHUrst, sUrry HiLLs,reDFern
	popULation: 80,960
	growtH %: +1.6%
	Forecast 2021: +1.7%

1) source: pitney Bowes Business insight, March 2011.

8

Mirvac property trust nsw investor tour 1 May 2012

broaDway sHopping centre

Foot traffic

Year to Mar 12 Vs year to Mar 11

==> picture [250 x 148] intentionally omitted <==

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

1.3 million 2011 2012
1.2
1.1
1.0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
----- End of picture text -----

Centre MAT

Broadway Shopping Centre

upDate

Broadway’s main trade area is estimated to contain over 280,000 people in one primary sector and three secondary sectors.

the primary sector encompasses the area within approximately 1 km of and includes the suburbs of pyrmont, Darling Harbour, ultimo, Glebe, camperdown, Darlington and chippendale. approximately 46 per cent of the centre’s sales are estimated to originate from customers who reside within a 1.5 kilometre radius of the centre.

the secondary sector includes the suburbs of: surry Hills, redfern and waterloo in the east; alexandria, erskineville, newtown, enmore, Marrickville, petersham, stanmore and Lewisham in the south and Leichhardt, annandale, Lilyfield, rozelle and Balmain in the west.

the main trade area is projected to grow between 1.3 per cent to 1.7 per cent per annum through to 2021, which is above the projected new south wales average projection of 1.1 per cent per annum. this overall growth will be largely driven by a number of residential developments in the primary and secondary east sectors.

$500 million

==> picture [249 x 124] intentionally omitted <==

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

400 $386m $411m
$359m $367m
$321m
300
200
100
0
Jun 07 Jun 08 Jun 09 Jun 10 Jun 11
----- End of picture text -----

2nd in Australia for total centre sales psm[ 1]

Big Guns 2012 Awards 2012

the current retail expenditure capacity of the main trade area population is estimated to be over $3.8 billion and is projected to increase at approximately 5.0 per cent per annum.

the Moving annual turnover (Mat) is boosted by a high non-resident population of over 100,000 students and staff at major universities and tertiary colleges within 1 kilometre of the centre.

in the year to March 2012, growth in foot traffic to the centre was 3.1 per cent compared to the previous year.

sales perForMance

total retail sales of $411 million (centre Mat as at 30 June 2011) were significantly above the benchmark for peer centres. this above average sales volume reflects the strong performance of the Kmart DDs and coles supermarket in particular.

custoMer proFile

$11,000

==> picture [249 x 145] intentionally omitted <==

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

$10,522
10,000 $9,841
9,000 $8,918
$8,302
8,000
$7,236
7,000 $6,997
6,000
5,000
Westfield Broadway Chadstone Chatswood Westfield Westfield
Bondi 3rd Chase Chatswood Burwood
1st 2nd 6th 23rd 32nd
----- End of picture text -----

• Broadway shopping centre has a young demographic with 62 per cent aged 20-39 years.

• customers are predominantly white collar workers (88 per cent of those in the workplace) with high household incomes (14 per cent above the sydney average with 32 per cent over $104,000 and 31 per cent over $120,000) and high disposable incomes (55 per cent rent their home).

• there is a high frequency of visitation per customer with 71 per cent of customers visiting weekly or more often. 10 per cent visit daily.

1) national ranking of shopping centres with a GLa in excess of 45,000sqm. published in shopping centre news, volume 30, number 1, 2012.

Mirvac group

9

centre LayoUt[ 1]

lower grounD level

==> picture [215 x 174] intentionally omitted <==

grounD level

==> picture [236 x 175] intentionally omitted <==

level 1

==> picture [215 x 174] intentionally omitted <==

level 2

==> picture [212 x 175] intentionally omitted <==

level 3

==> picture [220 x 173] intentionally omitted <==

1) centre plan is true and correct as at 30 June 2010. this plan is not to scale and is for illustrative purposes only.

HeaD oFFice / Level 26, 60 Margaret street sydney nsw 2000 syDney / 02 9080 8000 MelBourne / 03 9645 9400 BrisBane / 07 3859 5888 pertH / 08 9424 9900

==> picture [109 x 61] intentionally omitted <==

www.mirvac.com

iMportant notice

Mirvac Group comprises Mirvac Limited aBn 92 003 280 699 and Mirvac property trust arsn 086 780 645. this tour Book 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 “Mirvac 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 tour Book has been obtained from or based on sources believed by Mirvac Group to be reliable. to the maximum extent permitted by law, Mirvac, its affiliates, officers, employees, agents and advisors do not make any warranty, express or implied, as to the currency, accuracy, reliability or completeness of the information in this tour Book 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 tour Book is not financial advice or a recommendation to acquire Mirvac Group 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 tour Book and Mirvac 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 Group stapled securities is provided in this tour Book, 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 Licence. 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.

this tour Book 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, valuations and estimates provided in this tour Book 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.

an investment in Mirvac Group stapled securities is subject to investment and other known and unknown risks, some of which are beyond the control of Mirvac Group, 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 Group nor do they guarantee the repayment of capital from Mirvac Group or any particular tax treatment.

past performance information given in this tour Book is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

this tour Book is not an offer or an invitation to acquire Mirvac Group 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.