Slide 1: FY05 Results Presentation
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Slide 2: Agenda
Agenda — 2 and Ca pital Mane nee aoe = e a | | : i 7. a
Slide 3: oii
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Slide 4: Key Achievements in FY05
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Slide 5: Slide 5
Slide 6: Securityholder Returns
03 FYO04 FYOS
Slide 7: Slide 7
Slide 8: Commercial & Industrial / Office Parks
strial & O ffice Parks TE ce
Slide 9: Stockland
Stockland
Slide 10: Shopping Centres
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Slide 11: Slide 11
Slide 12: i =
i =
Slide 13: uve NN) ce
| _ | uve NN) ce HVWH8§8STrrTt] i Lie, at) — nT 1) it pr ects sold in FYO5 for net profit of $5.8m_
Slide 14: Shopping Centres
= 7 : 7 Si .. a ae iy le ys
Slide 15: Slide 15
Slide 16: EMI NI i wit i ii i ‘ oy
EMI NI i wit i ii i 7 ‘ oy | oa / Ca 7 Stockland
Slide 17: Occupancy
occupancy
Slide 18: 209,389 53,597 48,374
209,389 53,597 48,374
Slide 19: - Service , Centre - 2005 FMA Indust Excellence A
- Service , Centre - 2005 FMA Indust Excellence A
Slide 20: ease term 3.8 years
ease term 3.8 years S sroperties contracted for sale (367 George
Slide 21: | Steady tenant.
| Steady tenant. demand. — a Western | oY |. construction & Sydney | | 2! _-Brist ‘cost and land - dominates | _ a. value growth — activity Positive Net
Slide 22: eo Indecvel E ’ rj acts Busifless
eo Indecvel E ’ rj acts Busifless state Strata, 50% eed fora anon of f82m_ ok eee tions, disposals and development.
Slide 23: : oe To
: oe To Hall = Hi : Subject to pre-lease
Slide 24: Commercial & Industrial
June 2005 : Vacant cv, 1 erageleaseterm4.1years = —sCAverrage lease term 4.3 years 3 Moorebank 25% ownership o : :
Slide 25: Slide 25
Slide 26: Development Division
7; = = SS Ti fe au a= 7 2 To rr 7 | - . le | 7 / rr i 7 = = Te q 7 SI _ , my =a Wig . ¢ - Ay 7 2
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Slide 28: a
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Slide 29: m December 2004
Ly ie 7 il . L m 10 December 2004 ie
Slide 30: Hae AnH ANA TA A A
| | Hae AnH ANA TA A A CTC CE ue accounting. See Annexure fc
Slide 31: Development Division
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Slide 32: Development Division
Slide 33: Slide 33
Slide 34: a AES. i co
a AES. i co co a lee Queensland Sunshine Coast 4,755 oy : ow ' -_ . - To
Slide 35: ooo
- 2 oT ooo Courtyard ‘Small Lots | _ C&l & Retail . “Townhouses Apartments
Slide 36: Efficient mix of in-house and external resources
=fficient mix of “in-house” and “external” resources
Slide 37: ess as at June 2005 (excludes Lensworth).
i UY ess as at 30 June 2005 (excludes Lensworth). 7
Slide 38: Scarce commodity
: carce commodity
Slide 39: ii
ii
Slide 40: Sales patterns
new fone Sal es Patterns _ Selected States Ses hex nate — toca ie in 8 ess al trend masks divergence b pots the state markets rfo rmance in FY05 domonstataa our diversi cation crea a
Slide 41: eee ooh
eee ooh oe ee poe Annualce) 80% — EO% 6.0% 60%
Slide 42: Development Division
Slide 43: Slide 43
Slide 44: Employment Growth
Employment Growth — _WA vs Australia, Annualised
Slide 45: a = _ _ - - _ ue el ani ca
a = _ _ - 7 - _ ue el ani ca 2
Slide 46: co
co
Slide 47: posit ned to delive ‘ou
posit ned to delive ‘ou . “S oe
Slide 48: a i i Tl a i a i ml i co
7 a i i Tl a i a i ml i 7 co
Slide 49: o ne mark
a o ne mark ets 7
Slide 50: Z, ie cs
Z, ie cs 2 Q To Co aunched: Tate July, fully underwritten - ae a
Slide 51: To Ta
oe To Ta ial wholesale Residential Development existing funds for performance
Slide 52: Ne i ee
Ne i ee
Slide 53: lee ees
lee 7 7 ees ee t : erage lengt of deb uy) ivate Placement ce nM il < i : it Py . nn ital eteninier i i s oo A costs, fees & margins 275% 325m
Slide 54: Debt maturity profile
T r 7 om T 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2 i:
Slide 55: Interest Capitalisation
= 7 cordance with accounting standard : ’ eS V hen property re
Slide 56: Slide 56
Slide 57: Tc :
Tc : 2
Slide 58: as d bt issue not. o resohed
as d bt issue not. o resohed
Slide 59: Hf on meme tee=
Wa I . u, Q Hf on meme tee= ang
Slide 60: Tc To Gg.
= Tc To Gg. | i To 7 Ce co i ue “ocus proximately $20 million yh Toa | co Ct “ ee es a
Slide 61: Future Outlook & Strategy
i a mmitment to corporate responsibility and sustainability _ :
Slide 62: Slide 62
Slide 63: Summary of June 2005 Full Year Results
Te Co = Se We Stockland
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Slide 65: SSH
SSH V7 _ c 7 ce 7 |
Slide 66: Capitalised interest expensed
7 Z ( - lised interest ‘expensed / } ; il a TTT i) ! mn a OA
Slide 67: Investment property disposals
i rvestment property disp Se
Slide 68: IFRS adjustments
IFRS -_ Adjustments: |
Slide 69: UIG amortisation
UIG 53 _Amortisation sales — 40) al (08)
Slide 70: IFRS reclassifications
ing units ‘such as investment properties and when disposals occur the goodmall, allocated — cps of the generating unit. S : nificant portion of an Jvestment property ant f Kuieant . : classifications are . required under IFRS the major ones comprising: adjustments from investment properties te renei
Slide 71: Shopping Centres – Retail Sales
Bay Niigge | Glendal Burleigh Mktplace | Sheliharbour Kmart Bridge Plaza > 11.0% NT Soe 12.0% el fy Stage 1 opened Feb'05, Stage 2 opened Apr'05, final completion _by Oct'os i ‘Stage 1 4 opened Mar‘05, with 1 al completion by Oct'05 | D&C contract executed and works commenced on site as | programmed
Slide 72: Slide 72
Slide 73: a cy (2
a cy (2
Slide 74: Sip ii i i ic in ae
: R Sip ii i i ic in ae
Slide 75: Shopping Centres Revaluations
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Slide 76: Slide 76
Slide 77: ii it] ii iti iii iin i)
a ii it] ii iti iii iin 20 i) _ Deco4 June 05 — ine 1 on
Slide 78: nia
8.25% nia 850% _ Jun-05 LIDS _ lun-08 8.25% dun-05 10.50%
Slide 79: Se co Ve ie oo
Se co Ve ie oo
Slide 80: Development Division: Fair Value Accounting
i ay 2 ES
Slide 81: Disclaimer
Slide 82: Slide 82