STOCKLAND — AGM Information 2005

Oct 24, 2005

ANNUAL GENERAL MEETING Tuesday 25th October 2005

PAGPD2IV Graffinan

82

1988 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 19

San San San San San San San San San San

ENDER STARTED

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Philip Hepburn Canara Counsal and Gompany Secretary

Watthew Quinn Managing Director

8088

Hugh Thoroum

30

FOR ALL

31

Seria Seria d

NidkGrainer Deputy Chatrinan

30

FOR ALL

Graham Bracley Charlinen Elect

30

FOR ALL

Migola

DEVIC FEILUI Non-Executive Director

82

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esti k

1999 - 1999

ENICE CONGH Non-Executive Director

82

SEDERAS

Terry Williamson Non-Executive Director

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an an 27

PaterScott Non-Executive Director

82

80688

ANNUAL GENERAL MEETING Tuesday 25th October 2005

Outstanding Periomatines

28 d'obrisé du five ly cert offordit growth Excelent crowin in earnings and distributions per security Sitong financial discriptine Diversity of business

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Strategie Approach to our Business

• Sustainable growin Foous on long term value
• LGRSWORTNUIWHORSORSE n

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Residential land is a searce commodity

Board Roots

Governance

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• Risk nahadenen
• Corporate responsibility and sustainability
• Long tem drivers disedirity holder value

Our Approach to Sustainability

• Creation of Inten Guality, inch value assets Markeireoutation
• Référitousinéss

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Relationships with our partners

We like having you.

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A $1.50 bag can

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Stockland Glendale, Green Hills and Jesmond's reusable Enviro Back help us reduce the 6.9 billion plastic bags used by Australians each year. Stockland Enviro Bags are available from Centre Management or the Customer Care Centre and only cost $1.50 each. Not using them costs the Earth. 易真裁 .V

Stockland

Renunciation Rolley

Performance-based incentives Specific objectives, measures and targets Algnightofnaldegenen fewares with Security holder value

OUTPOOL

Boste Compositon and Enfancement

8000

30

AUDER

Granan Bradley Chaffman Elect

82

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MANIFERENT

TRAGGEGOU Non-Executive Director

82

SEDERAS

MACEETING Director

30

AUGAS

a mata sa Ba

2000

Chairman's Address

30.HR

Maria Ba a TimografiaAlimentaria

88

RADA MARA

1000

90888

Watthew Quinn Managing Director

80ka

Outstanding Financial Performance

Record results Excelisatioroficionia

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Strong leasing results and Sales

Delivering fon Strategy

Number of haw inite twest

Г

▛

• Ennance asset base and hoome streams
• Successful launch of unisted business
  • Incorated business delibrin

28.5% Increase

1989 - Johann Stoff, fransk foarmeisk fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fan it Stoffen fa

RAYCAUG

SYL76156 The Contract of the Contract of the Contract of The Contract of The Contract of The Contract of The Contract o

ilikk

est

89.8 cents

15.3% Increase

68.9 cants

THE MANUSCRIPT ingkatan

Earnings per Security

Designation

Distributions Der Security

Total Security Holder Returns

Shopping Centres

050 Darren Steinberg

80ka

Stockend Shopping Centres

Niliai de la sia algobera de DE LA PRIMERA DE LA Santa Car TOELSELES DE ATITUL e de la TOET CHSORE ASTE Till a Chillian Number of Shops a anggomenyengenSanata Manazarta

Shopping Centres

88

Divisional operating profit

Come relate neuroschedule des signals.

2.6%

800a

7.5%

. . . . . . . . . . . . . . . . . . . .

1989 - Johann Stoff, fransk politik (f. 1989) 1999 - Johann Barnett, fysikk fyrster og fyrste og fyrste og fyrste og fyrste og fyrste og fyrste og fyrste

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angMga Taong

82228882 sammunin

Mariji (

.................

Shopping Centres

Market Outlook and Rodus

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0

n

• Retail sales crowin moderating
• Demand for retail space strong
• Well represented in growth corridors S700m development pipeline

Commercial & Industrial

Steve Mann

80ka

Commercial and Industrial

lle salla jaWitte Vite

THE REAL

1988 - 1990

gangangangGardina di Ka

Maria 1999

Gommere Ka Industral

Division oberating profit

$220.1m

845%

Comparable net income growth

Office Market Outlook and Foots

• Brisbane and Perinshowing strong growin
• Meloourne and Sydney OBDs more subdued
  • Improvement in leasing demand in Sydney
    • Confidence in idiure outlook

O

Industrial MarkettOutlookend Foeus Eudre RS250m in development ploeline Taorease in tenant demand Rental growth Ö Strong capital appreciation

DGVelopneni, prviston

z

195

a sa sa

Danis Hidkey

8088

Development Division

Development Division

S197m

25.3%

AUGAS

82

840

Ejina

Operating profit

Indreased

BUIGING APPROVEIS

Strong Long Term Residental Outlook

• Long term outlook remains strong Contrued population growth
• Indreasing immigration underpinning demand
• Linited future supply

MARINER

GEOGreg Sear

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50000

Tana Martin 1999.Manazarta

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Albert Strategy

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The proprocessor more companies on the companies of the	íä.
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a katika Militar Kabupatén Ka

Unisted Property Funds

CEORobb Machicol

8088

39

Unijsted Property Funds

a matematika katika kata mana mana katika katika katika katika katika katika katika katika katika katika katika With ousiness plan

Funds Launched

ASSESCHICH Management

ge ag na gregorian an d

eVizie

Unifsted Property Funds

EXPRESSMENT CONTRACT WILD BLE MESS OF M

Funds/Launehed

ayaWalio di

ASSS Under Wanagement

The Marian

Unifsted Property Funds

TAGIO I PARTICIPA I PITTI William Siness of the

Funds Launched

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ASSESTINGER Wanagement

Strategic Benefits of Unifsted Business

Extend brand reach Broaden investor base Enhance asselloase

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Additonal hoome sucants

High Engloyee Encaganent

Engloyee engagement score of 82% Outperformed the Australian norm Higher than Global High Performing Companies norm

Focus for 2006

Growing Security holder returns Captialise on the diversity of the group Integrated platform Explore new business opportunities

RESOLUTIONS

Service State Z.

S.

999 - 1

XIII

999

30666

SS –

Committee

Resortion

Amendmento fina Stockend Frist Constitution

To consider and, if thought fit, to pass the following resolution as a special resolution of the Trust:

"That the Constitution of Stockland Trust be amended in accordance with the provisions of the "Supplemental Deed Poll No. 10 -Stockland Trust" tabled at the meeting and signed by the Chairman of the meeting for the purpose of identification, and that Stockland Trust Management Limited be authorised to execute the Supplemental Deed Poll No 10 and lodge it with the Australian Securities and Investments Commission"

Financial Statements and Report

To receive and consider the Annual Financial Report, including the Directors' Report and the Financial Statements for the year ended 30 June 2005, together with the Auditor's Report.

Remuneration Report

To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company:

"That the Company's Remuneration Report for the financial year ended 30 June 2005 be approved."

Resortion 4

Election of Director - Peter Scott

To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company.

That Mr Peter Scott, who retires in accordance with the Company's Constitution and, being eligible and having offered himself for re-election, isre-elected as a Director of the Company.

Mr. Scott was appointed to the Board on 9 August 2005. He is a director of Sinclair Knight Merz and was appointed a director of Perpetual TrusteesAustralia Limited in July 2005. Mr. Scott was the Chief Executive Officer of MLC and Excertive General Manager, Wealth Management of National Australia Bank until January 2005. Prior to that, he held a number of senior positions with Lend Lease, following a successful career as a consulting engineer in Australia and overseas. Mr. Scott is also a member of the Corporate Responsibility and Sustainability Committee.

RASOLITORS

Election of Director - Bruce Corlett

To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company:

"That Mr Bruce Corlett, who retires in rotation in accordance with the Company's Constitution and, being eligible and having offered himself for reelection, is re-elected as a Director of the Company."

Mr Corlettwas appointed to the Board on 31 October 1996. He is Chairman of Adsteam Marine Limited (appointed as a director March 1997), Serveorp.Limited (appointed as a director in October 1999) and Trust Company of Australia Limited (appointed as director October 2000) and has been a director of Tooth & Co. Linited since September 1999. He is also a Senate Fellowal the University of Sydney. Mr. Corlett is a member of the Audit and Risk Committeeand the Mominalions and Ramunavillon Committee

Approval to Increase Non Exacutive Directors' Remuneration

To consider and, if thought fit, to pass the following resolution as an ordinary resolution of the Company:

That the meximum accrecite payment imit to Avon ExecutiveDirectors' tees be increased by an amount of $950,000, from $950,000 per amung exelucing supermulation to st. 2000 000 per amuni including superannuation."

Alloincht or transfer of Stablet Securities to the Managing Director

To consider and, if thought fit, to pass the following resolution as separate ordinary resolutions of each of the Company and the Trust:

"To approve the allotment or transfer of up to a total of 352,000 stapled securities to Mr. Matthew Quinn."

Alloiment or transfer of Stapled Securifies to the Einance Director

To consider and, if thought fit, to pass the following resolution as separate ordinary resolutions of each of the Company and the Trust.

"To approve the allotment or transfer of up to a total of 188,000 stapled securities to Mr. Hugh Thorbum."

Granan Bradley Chairman Elect

82

SEDERAS

SSON

2000

Close of Meding

Z, provinci

AA K

AND 1999

a a shekara ta 1979

38

a primerin

55

59

1988 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 1999 - 19

DISOETINGS

Corporation/ Responsible Entity

Stockland Corporation Limited AQN 000 181 733

Stockland Trust Management Limited AGN OCT 900 741 AFSL241400

TAIDE EIGHT 157 Liverpool Street SYDNEY NSWZOOO

Diselamer of Fability:

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