Dexus · ASX:DXS

Dexus — DEXUS Property Group — Corporate Update (June 2010)

18 slides from Dexus's corporate update, Jun 7, 2010

1. Slide 1: US Property Tour presentation - ASX release

   DEXUS Property Group - ASX release 7 June 2010 For personal use only DEXUS Property Group (ASX:DXS) US Property Tour presentation DEXUS Property Group (DXS) provides a copy of the US Property Tour presentation. For further information contact: Media Relations Investor Relations Emma Parry T: (02) 90

2. Slide 2: DEXUS Property Group US Property Tour

   2010 For personal use only DEXUS Property Group US Property Tour DEXUS Funds Management Limited ABN 24 060 920 783 AFSL DEXUS238163 as responsible Property Group, US entity for Tour Property DEXUS—Property Slide 1 Group

3. Slide 3: Presenters: Victor Hoog Antink and Jane Lloyd

   TITLE DEXUSSLIDE US HEADER (Trebuchet Bold 28pt) For personal use only Sub title (Trebuchet 16 pt) Jane Lloyd, Victor Hoog Managing Antink Director, US Investments Chief Executive Officer 3691 North Perris Boulevard, Perris, CA DXS 2009 Annual Results — Slide 2

4. Slide 4: DEXUS US Vision

   DEXUS US VISION For personal use only ƒ Our goal in the US is to become a market leader in industrial real estate on the west coast within three years by: — Repositioning our existing portfolio to create critical mass, and — Establishing a full service asset management platform Our brand proposition

5. Slide 5: US Industrial: The task at hand

   US INDUSTRIAL The task at hand For personal use only ƒ Establish US team ƒ Manage existing portfolio - improved operational performance ƒ Transition management of existing core portfolio ƒ Reposition portfolio to preferred west coast markets 13602 12th Street, Chino, CA DEXUS Property Group, US Prop

6. Slide 6: Industrial markets: some perspective on relative size

   INDUSTRIAL MARKETS Some perspective on relative size For personal use only DEXUS Property Group, US Property Tour — Slide 5

7. Slide 7: US operating environment: weak but improving

   US OPERATING ENVIRONMENT Weak but improving For personal use only ƒ US industrial net absorption weak US Industrial absorption and US GDP but forecast to improve with economy 2011-13 ƒ US industrial transaction volumes US Industrial transactions remain low following 2007 peak Source: RCA, RREEF, DEX

8. Slide 8: 1. Existing portfolio management

   1. EXISTING PORTFOLIO MANAGEMENT For personal use only ƒ What do we want? ƒ How do we measure? ƒ What are we doing? — Stabilized portfolio — Rental growth, retention — Building DEXUS team and receivables — Consistent performance — Regular visits to assets — Benchmarking — Long-term sustainable — Wee

9. Slide 9: 2. Establishment of US team

   2. ESTABLISHMENT OF US TEAM For personal use only DEXUS Property Group, US Property Tour — Slide 8

10. Slide 10: 3. Transition portfolio and asset management

    3. TRANSITION PORTFOLIO AND ASSET MANAGEMENT For personal use only DEXUS US – An Integrated Property Model Jun 2010 Investment management (portfolio oversight) Asset Leasing & Development IT, Finance, Jan 2011 Management Transactions Management CR&S CBRE Property management ENHANCED PERFORMANCE AND

11. Slide 11: 4. Transition portfolio to preferred west coast markets: April 2009

    4. TRANSITION PORTFOLIO TO PREFERRED WEST COAST MARKETS Portfolio – April 2009 For personal use only DEXUS Property Group, US Property Tour — Slide 10

12. Slide 12: 4. Portfolio - current

    4. TRANSITION PORTFOLIO TO PREFERRED WEST COAST MARKETS Portfolio – current For personal use only DEXUS Property Group, US Property Tour — Slide 11

13. Slide 13: 4. Portfolio - following repositioning

    4. TRANSITION PORTFOLIO TO PREFERRED WEST COAST MARKETS Portfolio – following repositioning For personal use only DEXUS Property Group, US Property Tour — Slide 12

14. Slide 14: Target asset criteria

    TARGET ASSET CRITERIA For personal use only ƒ What type of assets do we want? — A-Grade and quality B-Grade — Institutional grade (high spec) Core portfolio — Assets that can become A-Grade ƒ Criteria — Preferred west coast markets — Location – transport nodes — Specification — Disciplined approach

15. Slide 15: US Investments: where we are and where we want to be

    US INVESTMENTS Where we are and where we want to be For personal use only MARKETS 2010 2012/13 Markets 17 markets Preferred west coast markets People 12 people 20-25 people 3 parties with multiple interests One organization One culture One brand Tenant relationships Portfolio managed by 2 x third Co

16. Slide 16: Key performance indicators

    KEY PERFORMANCE INDICATORS For personal use only ƒ Short-term — Third party providers — More aggressive deals — Stronger enforcement/expectation on benchmarks ƒ Assemble team — Selection — DEXUS approach: service excellence ƒ Assume asset management responsibility ƒ Implement integrated management ƒ

17. Slide 17: Questions

    TITLE SLIDE HEADER QUESTIONS (Trebuchet Bold 28pt) For personal use only Sub title (Trebuchet 16 pt) Victor Hoog Antink Chief Executive Officer 4190 Santa Ana Street, Ontario, CA DXS 2009 Annual Results — Slide 16

18. Slide 18: DEXUS Property Group US Property Tour

    2010 For personal use only DEXUS Property Group US Property Tour DEXUS Funds Management Limited ABN 24 060 920 783 AFSL DEXUS238163 as responsible Property Group, US entity for Tour Property DEXUS—Property Slide 17 Group

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