STOCKLAND — Director's Dealing 2016

Oct 27, 2016

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	STOCKLAND(Joint listing of Stockland Corporation Limited and Stockland Trust)
ABN	Stockland Corporation Limited – 43 000 181 733Stockland Trust – 12 706 208 920

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Mark Andrew STEINERT
Date of last notice	6 October 2016

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct and indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances givingrise to the relevant interest.	Madison Way Superannuation FundName of holder: Belvedere Securities Pty Ltd as custodianfor Madison Way Superannuation FundNature of interest: Beneficiary of the Madison WaySuperannuation Fund
	Madison Way Family TrustName of holder: Madison Way Pty Ltd as trustee forMadison Way Family TrustNature of interest: Beneficiary of the Madison Way FamilyTrust
Date of change	28 October 2016
No. of securities held prior to change	Ordinary stapled securities1,760,328 comprising:Mark Andrew Steinert – 1,508,586;Madison Way Superannuation Fund – 78,242; andMadison Way Family Trust – 173,500Performance rightsMark Andrew Steinert – 1,561,000

+ See chapter 19 for defined terms.

Class	Ordinary stapled securities and performance rights
Number acquired	165,000 ordinary stapled securities acquired by MadisonWay Pty Ltd as trustee for Madison Way Family Trust; and619,579 performance rights granted to Mr Steinert
Number disposed	Nil
Value/Consideration	$4.526439 per ordinary stapled security
Note: If consideration is non‐cash, provide detailsand estimated valuation	$4.842 per performance right
No. of securities held after change	Ordinary stapled securities1,925,328 comprising:Mark Andrew Steinert – 1,508,586;Madison Way Superannuation Fund – 78,242; andMadison Way Family Trust – 338,500
	Performance rightsMark Andrew Steinert – 2,180,579
Nature of changeExample:on‐markettrade,off‐markettrade,exercise of options, issue of securities underdividend reinvestment plan, participation in buy‐back	On-market acquisition of ordinary stapled securities; andsecurityholders at Stockland's Annual General Meetingapproved the granting of 619,579 performance rights toMr Steinert as part of his 2017 financial year remunerationin accordance with the Stockland Performance RightsPlan.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	Not applicable
Nature of interest	Not applicable
Name of registered holder(if issued securities)	Not applicable
Date of change	Not applicable
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/ConsiderationNote: If consideration is non‐cash, provide detailsand an estimated valuation	Not applicable

+ See chapter 19 for defined terms.

Interest after change	Not applicable

Part 3 – +Closed period

Were the interests in the securities or contracts detailed	No
above traded during a +closed period where prior written
clearance was required?
If so, was prior written clearance provided to allow the trade	Not applicable
to proceed during this period?
If prior written clearance was provided, on what date was this	Not applicable
provided?

+ See chapter 19 for defined terms.