STOCKLAND — Capital/Financing Update 2014

Oct 15, 2014

133 Castlereagh Street T 02 9035 2000 Sydney NSW 2000 F 02 8988 2552

www.stockland.com.au

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16 October 2014 ASX/Media Release

STOCKLAND SELLS 50 PER CENT STAKE IN TOWNSVILLE SHOPPING CENTRE TO AMP CAPITAL

Stockland has made further progress in its capital partnering program with the sale of a 50 per cent stake in Stockland Townsville Shopping Centre to AMP Capital managed fund, AMPCSCF, for $228.7 million[1] , which is in line with book value.

Stockland Managing Director and CEO, Mark Steinert, said: “This sale and establishment of this new joint-venture reflects our focus on creating effective capital partnerships. AMP Capital is a secure, high-quality capital partner and the divestment of this 50 per cent stake in Stockland Townsville will enable us to recycle capital into accretive opportunities.”

John Schroder, Group Executive and CEO Commercial Property at Stockland, said: “We completed a significant $180 million redevelopment of Stockland Townsville in 2013 to take the centre to the top of its retail hierarchy in greater Townsville. The redeveloped centre represents approximately 8 per cent of our total retail portfolio by value, making it an ideal asset to share with a high-quality capital partner.”

“We will retain management, leasing and development control of this important and highlyproductive asset while rebalancing our investment exposure in Townsville in favour of other high-returning growth projects across Australia,” Mr Schroder said.

The centre is located in Townsville’s urban growth area and houses the region’s only full-line Myer department store, Big W, Woolworths, four mini-majors, 180 specialty stores and a 750seat casual dining terrace. The centre comprises a Gross Lettable Area (GLA) of 58,681 square metres, and also comprises additional development land to the east of the existing centre. In July 2014, a first stage Development Application (DA) was approved for the creation of an entertainment and lifestyle precinct on this adjacent land.

Stockland Townsville has a capitalisation rate of 6.25 per cent (while the separate Coles and Kmart component of the investment has a capitalisation rate of 7.25 per cent).

Stockland has a long relationship with clients of AMP Capital, which includes the recent establishment of joint-venture ownership of the Optus Centre at Macquarie Park in Sydney. Stockland Direct Office Trust No.2 (SDOT2) sold a 49 per cent stake in the Optus Centre to AIMS/AMP Capital Industrial REIT (AA REIT) for $184 million in February 2014.

1 Includes sundry land.

Stockland

Stockland (ASX: SGP) was founded in 1952 and has grown to become Australia’s largest diversified property group – owning, developing and managing a large portfolio of shopping centres, residential communities, retirement living villages, office and industrial assets. Stockland was recognised by the S&P Dow Jones Sustainability Indices (DJSI) with a Gold Class Award for 2014-15, which recognises companies that score within 1 per cent of the Global Real Estate Industry Group Leader. Stockland was also named one of the Global 100 Most Sustainable Corporations in the World at the World Economic Forum in Davos, Switzerland in 2014, for the fifth consecutive year.

For media enquiriesGreg SpearsSenior Manager -Media RelationsStocklandT+61 (0)2 9035 3263M+61 (0)406 315 014	Michelle TaylorGeneral Manager -Stakeholder RelationsStocklandT+61 (0)2 9035 2786M+61 (0)400 356 692	For investor enquiriesAntoinette PlaterSenior Manager -Investor RelationsStocklandT+61 (0)2 9035 3148M+61 (0)429 621 742	Tim MitchellSenior Analyst -Investor RelationsStocklandT+61 (0)2 9035 2467M+61 (0)478 308 513

Stockland Corporation Ltd ACN 000 181 733 Stockland Trust Management Ltd ACN 001 900 741 AFSL 241190 As Responsible Entity for Stockland Trust ARSN 092 897 348.