MIRVAC GROUP — Investor Presentation 2021

May 2, 2021

Reimagine urban life, sustainably

Macquarie Australia Conference Presentation — 4 May 2021

Susan Lloyd‑Hurwitz CEO & Managing Director

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MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Acknowledgement of Country

Mirvac acknowledges the Traditional Owners of the land on which we work, and we pay our respect to Elders past and present

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4 MAY 2021 — 1

EY Centre, 200 George Street, Sydney

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Mirvac: a leading Australian urban asset creator and curator through long term ownership

With our overarching purpose to reimagine urban life, we take a holistic approach to urban environments, recognising that life isn’t compartmentalised

• Our integrated approach enables seamless project delivery and gives Mirvac the capacity to undertake complex urban renewal projects that require a high level of expertise

OFFICE INDUSTRIAL RETAIL > 27 assets[1] > 10 assets[1] > 16 assets > Portfolio value: $7.4bn[2] > Portfolio value: $1.0bn[2] > Portfolio value: $3.1bn[2] > NLA: 784,791 sqm > NLA: 469,322 sqm > GLA: 430,403 sqm

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Artist impression
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BUILD TO RENT

~2,200 completed and pipeline apartments[ 3] > Target yield on cost: >4.5% > Target unlevered IRR: >8.0%

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RESIDENTIAL

27,805 pipeline lots[ 4] > $13.7bn expected future revenue[ 5] > $1bn pre-sales[ 6]

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1. Includes IPUC, but excludes properties being held for development.

2. Portfolio value includes IPUC and properties being held for development and represents fair value (excludes gross up of lease liability under AASB 16).

3. Includes LIV Indigo and expected apartments, subject to various factors outside of Mirvac’s control such as planning, market demand and COVID-19 uncertainties.

4. Subject to change depending on planning approvals, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.

5. Represents Mirvac’s share of expected future revenue subject to various factors outside of Mirvac’s control such as planning, market demand and COVID-19 uncertainties.

6. As at 31 March 2021.

4 MAY 2021 — 2

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Mirvac takes a highly disciplined approach to allocating capital

Urban strategy

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Integrated Investment Portfolio Asset Creation & Development
85-90% 10-15%
SECURE YIELD – UNDERPINS GROUP DISTRIBUTION THIRD PARTY DISCIPLINED GROWTH
CAPITAL
$12.3bn MANAGEMENT $1.9bn
$9.7bn
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Office Industrial Retail Build to Rent Residential Urban Renewal
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4 MAY 2021 — 3

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Generating value through asset creation capability

BENEFITS OF THE INTEGRATED MODEL

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ASSET CREATION
& DEVELOPMENT
Development EBIT
NTA Uplift
INTEGRATED
INVESTMENT PORTFOLIO
New recurring high
quality rental income
Asset management
fee income
Recurringincomefu
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• Award-winning asset creation capability developing income generating assets for long term ownership for the Group and capital partners

• Mirvac typically co-owns a significant stake alongside our capital partners, creating aligned interests in our customers’ and partners’ future success

• Future development pipeline expected to be funded through a combination of balance sheet and third party capital

GROWING ASSETS UNDER MANAGEMENT WITH OUR ALIGNED PARTNERS

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$14.0 billion
12.3
12.0 12.1
11.5
9.7
10.0 10.1
9.2 9.4
8.7
8.0 8.0 7.7
7.5
6.3
6.0 5.8
4.0
2.8
2.0 1.6 1.8 1.8 1.7 1.7 1.7 1.9
0
FY15 FY16 FY17 FY18 FY19 FY20 1H21
Balance sheet invested capital External assets under management Active development invested capital
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4 MAY 2021 — 4

7 Spencer Street & LIV Aston, Melbourne (artist impression)

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Upgraded FY21 guidance at 3Q21 demonstrates strong momentum across our business

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FY21 GUIDANCE
EPS
at least 13.7 cpss [ 1]
DPS
9.9 cpss [ 2]
Tullamore, Melbourne (artist impression)
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1. Upgraded FY21 earnings guidance on 28 April 2021 to at least 13.7 cpss from 13.1-13.5 cpss prior. 2. Upgraded FY21 distribution guidance on 28 April 2021 to be 9.9 cpss from 9.6-9.8 cpss prior.

4 MAY 2021 — 6

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Strong momentum in Residential

897 2,282 SALES IN 3Q21 SALES YTD +98% ON PCP +67% ON PCP 1,791 SETTLEMENTS YTD (715 3Q21) $1bn PRE-SALES

+68%

ON PCP 3Q21 ENQUIRIES

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4 MAY 2021 — 7
The Portman Collection Green Square, Sydney (artist impression)
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MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Progressing our ~$28bn development pipeline

OFFICE / MIXED-USE

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1 ~$8.8bn

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INDUSTRIAL

1 ~$1.5bn

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BUILD TO RENT RESIDENTIAL 1 1 ~$1.4bn ~$16.0bn

1 ~$1.4bn

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Voyager, Yarra’s Edge, 80 Ann Street, Switchyard, Auburn, LIV Munro, Aspect, Kemps LIV Newstead, 7 Spencer Street / Elizabeth Enterprise,
Melbourne Brisbane Sydney Melbourne Creek, Sydney Brisbane LIV Aston, Melbourne [ 2] Badgerys Creek, Sydney
202 1 2021+ 2022 2022 2022 2022+ 2023/24 2023/24 2023 +
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Locomotive Workshops, South Eveleigh, Sydney

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Willoughby, Green Square, LIV Albert Fields, Waterloo Metro Quay Waterfront, 75 George Street, Harbourside, 383 La Trobe Street, 55 Pitt Street, Sydney Sydney Melbourne Quarter, Sydney Brisbane Parramatta Sydney Melbourne Sydney 2023 ~~+ 2023+ 2024+ 2024+ 2024+ 2025+ 2025+ 2025+ 2025+~~

Note: Timeline reflects expected project timing (calendar year) subject to change for reasons including planning outcomes, development and construction decisions, market conditions and COVID-19 uncertainties. Note: All images are artist impressions, final design may differ.

1. Represents 100% expected end value/revenue, subject to various factors outside Mirvac’s control such as planning, market demand and COVID-19 uncertainties.

4 MAY 2021 — 8

1. Formerly Flinders West, Melbourne.

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Positive indicators across Australian office markets

98%

CASH COLLECTION[ 1 ] (95% AT 1H21)

6.5 yrs

WALE[ 2]

95.3%

OCCUPANCY[ 3]

1. Net cash collections for the 9 months to 31 March 2021, excluding development impacted assets. 2. By income, as at 31 March 2021.

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South Eveleigh, Sydney
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4 MAY 2021 — 9
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1. By area, as at 31 March 2021.

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Robust demand continues for quality industrial space

100%

CASH COLLECTION[ 1 ] (96% AT 1H21)

7.3 yrs

WALE[ 2]

99.7%

OCCUPANCY[ 3]

1. Net cash collections for the 9 months to 31 March 2021, excluding development impacted assets.

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Switchyard Auburn, Sydney (artist impression)
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4 MAY 2021 — 10
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1. By income, as at 31 March 2021.

2. By area, as at 31 March 2021.

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Build to Rent residents validate strong customer proposition

LIV INDIGO 63%

LEASED[ 1] ~1,900 units CURRENT PIPELINE

$1.4bn

FORWARD DEVELOPMENT PIPELINE[ 2]

1. As at 26 April 2021.

2. Represents 100% expected end value of development pipeline, subject to various factors outside Mirvac’s control such as planning outcomes, market demand and COVID-19 uncertainties.

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4 MAY 2021 — 11
LIV Indigo, Sydney
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MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Retail sales and foot traffic continue to improve

90%

CASH COLLECTION[ 1 ] (80% AT 1H21)

175

LEASE DEALS YTD

98.0%

OCCUPANCY[ 2]

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Broadway, Sydney
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4 MAY 2021 — 12
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1. Net cash collections for the 9 months to 31 March 2021, excluding development impacted assets. 2. By area, as at 31 March 2021.

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RESOURCES ENRICHED TRANSPARENT
REIMAGINED COMMUNITIES GOVERNANCE
CLIMATE NATURAL OUR SOCIAL OUR TRUSTED
CHANGE RESOURCES COMMUNITY INCLUSION PEOPLE PARTNER
Net positive Net positive Net positive $100m Highly engaged, Most trusted
(carbon) (water) legacy social sector capable and owner and
investment diverse workforce developer
Zero waste
to landfill
4 MAY 2021 — 13
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MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Reimagine urban life, sustainably

• Mirvac’s sustainability strategy, This Changes Everything, was launched in 2014

• The strategy was refined in 2018, focussing on six material ESG issues:

• climate change and natural resources (environment)

• our community and social inclusion (social)

• our people and trusted partnerships (transparent governance)

• We aim to be a force for good

• Sustainability is in our cultural DNA

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

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This Changes Everything highlights

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Climate change Natural resources Our community Social inclusion Our people Trusted partner -80% 95% $9m+ $9m+ 50[:] 50 Ethical CO2 emissions construction waste community investment social procurement board Principles diverted from landfill 69% $545k 40[:] 40[:] 20 A+ operational waste bushfire support Stretch women in senior roles UNPRI diverted from landfill RAP 15 ~~x 5~~ star 5.5 star 94% NABERS Energy assets NABERS Waste employees willing to go above (David Malcolm Justice Centre, Perth) Building Strong ~$2,000 and beyond for Mirvac[ 1] Bonds savings in House -49% 4 star with No Bills carbon intensity NABERS Water 800 FY20 LTIFR (from FY18 baseline) (200 George St, Sydney) people projects[47] 2.08 for National Community Day 2021 Circular economy & sustainable materials

4 MAY 2021 — 14

1. Internal employee survey, December 2020.

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

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Mirvac aims to be a force for good - National Community Day 2021

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4 MAY 2021 — 15
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100% 90%
RETAIL PORTFOLIO OFFICE PORTFOLIO
5.07 star
NOW SUPPLIED BY NOW SUPPLIED BY
100% RENEWABLE 100% RENEWABLE NABERS AVERAGE
ELECTRICITY ELECTRICITY ENERGY RATING
4 MAY 2021 — 16
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MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Mirvac’s renewable energy transition

DRIVING SIGNIFICANT PROGRESS IN OUR AMBITION TO BE NET POSITIVE CARBON BY 2030 > New energy agreements signed for the majority of our office and retail assets

• Carbon footprint reduced by 80% as at 1 January 2021

• We have utilised the rooftop space of our assets to install over three megawatts of solar to date

• Focus on maximising energy efficiency has delivered: – four 6 Star Green Star Performance rated buildings – three 6 star NABERS Energy rated buildings – four 5.5 star NABERS Energy rated buildings – eight 5 star NABERS Energy rated buildings

MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

This Changes Everything in action: 55 Pitt St, Sydney & 80 Ann St, Brisbane

• These new developments align with our target to develop all-electric buildings

• 55 Pitt Street is targeting:

• 5.5 NABERS Energy

• 4.5 NABERS Water

• 6 Star Green Star

• Platinum WELL rating

• 80 Ann Street

• We amended the design of the domestic hot water system from gas to electric heat pumps

• This enabled the base building services to be 100% electric

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4 MAY 2021 — 17
80 Ann Street, Brisbane (artist impression) 55 Pitt Street, Sydney (artist impression)
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MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

This Changes Everything: thinking about the “S” at The Portman Collection, Green Square

• The Portman Collection will be Australia’s first residential buildings to seek WELLv2 Gold certification

• In order to achieve this, we must deliver thoughtful and intentional spaces that enhance human health and well-being, with careful consideration given to areas including:

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WATER NOURISHMENT
SOUND MATERIALS
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LIGHT MOVEMENT
MIND COMMUNITY
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AIR
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THERMAL
COMFORT
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MACQUARIE AUSTRALIA CONFERENCE PRESENTATION

Important Notice

Mirvac Group comprises Mirvac Limited (ABN 92 003 280 699) and Mirvac Property Trust (ARSN 086 780 645). This presentation (“Presentation”) has been prepared by Mirvac Limited and Mirvac Funds Limited (ABN 70 002 561 640, AFSL number 233121) as the responsible entity of Mirvac Property Trust (collectively “Mirvac” or “the Group”). Mirvac Limited is the issuer of Mirvac Limited ordinary shares and Mirvac Funds Limited is the issuer of Mirvac Property Trust ordinary units, which are stapled together as Mirvac Group stapled securities. All dollar values are in Australian dollars (A$).

The information contained in this Presentation has been obtained from or based on sources believed by Mirvac to be reliable. To the maximum extent permitted by law, Mirvac, its affiliates, officers, employees, agents and advisers do not make any warranty, express or implied, as to the currency, accuracy, reliability or completeness of the information in this Presentation or that the information is suitable for your intended use and disclaim all responsibility and liability for the information (including, without limitation, liability for negligence).

This Presentation is not financial advice or a recommendation to acquire Mirvac stapled securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision prospective investors should consider the appropriateness of the information in this Presentation and the Group’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange having regard to their own objectives, financial situation and needs and seek such legal, financial and/or taxation advice as they deem necessary or appropriate to their jurisdiction.

To the extent that any general financial product advice in respect of the acquisition of Mirvac Property Trust units as a component of Mirvac stapled securities is provided in this Presentation, it is provided by Mirvac Funds Limited. Mirvac Funds Limited and its related bodies corporate, and their associates, will not receive any remuneration or benefits in connection with that advice. Directors and employees of Mirvac Funds Limited do not receive specific payments of commissions for the authorised services provided under its Australian Financial Services License. They do receive salaries and may also be entitled to receive bonuses, depending upon performance. Mirvac Funds Limited is a wholly owned subsidiary of Mirvac Limited.

An investment in Mirvac stapled securities is subject to investment and other known and unknown risks, some of which are beyond the control of Mirvac, including further COVID-19 impacts on market conditions, 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”, “consider” and other similar expressions are intended to identify forward looking statements. Forward looking statements, opinions and estimates provided in this Presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions which because of COVID-19, impacts remain unknown and uncertain. Forward-looking statements including projections, indications or guidance on future earnings or financial position and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. There can be no assurance that actual outcomes will not differ materially from these statements. To the full extent permitted by law, Mirvac Group and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions. Past performance information given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current year amounts and other disclosures.

This Presentation also includes certain non-IFRS measures including operating profit after tax. Operating profit after tax is profit before specific non-cash items and significant items. It is used internally by management to assess the performance of its business and has been extracted or derived from Mirvac’s financial statements ended 31 December 2020, 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 2020, unless otherwise noted.

4 MAY 2021 — 19

Reimagine Urban Life Thankyou

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South Eveleigh, Sydney

AUTHORISED FOR RELEASE BY

CONTACT

MIRVAC GROUP

The Mirvac Group Continuous Disclosure Committee

Katherine Lipa, Investor Relations Manager | investor.relations@mirvac.com

Level 28, 200 George Street, Sydney NSW 2000