Stockland · ASX:SGP
Stockland — Shareholder Meeting (October 2006)
77 slides from Stockland's shareholder meeting presentation, Oct 24, 2006
Slide 1: Annual General Meeting
ANNUAL GENERAL MEETING Ԥ) 24 October 2006 ~ Stockland
Slide 2: Phillip Hepburn, General Counsel and Group Secretary
Phillip Hepburn General Counsel and ii Ue 2 a Group Secr etary i HN © a — Stockland nnn
Slide 3: Matthew Quinn, Managing Director
Matthew Quinn Managing Director © Stockland
Slide 4: Hugh Thorburn, Finance Director
Hugh Thorburn Finance Director 8) Stockland
Slide 5: Nick Greiner, Deputy Chairman
Nick Greiner Deputy Chairman 8) Stockland
Slide 6: Bruce Corlett, Non-Executive Director
ti— Bruce Corlett : Non-Executive Director Wi 4 O Stockland
Slide 7: David Fairfull, Non-Executive Director
David Fairfull Non-Executive Director 8) Stockland
Slide 8: Lyn Gearing, Non-Executive Director
Lyn Gearing Non-Executive Director 8) Stockland
Slide 9: Peter Scott, Non-Executive Director
Peter Scott Non-Executive Director O Stockland
Slide 10: Terry Williamson, Non-Executive Director
Terry Williamson Non-Executive Director 8) Stockland
Slide 11: Chairman's Address
Chairman’s Address Graham Bradley 8) Stockland
Slide 12: Introduction
<2 _ Introduction 2006 Performance — Matthew Quinn Remuneration — Nick Greiner Resolutions
Slide 13: 24th consecutive year of profit growth
24" consecutive year of profit growth Excellent growth in earnings and distributions per security Strong financial discipline Diversity of business
Slide 14: Corporate Responsibility & Sustainability
nae Corporate Responsibility & Sustainability * Long-standing culture ¢ Integrated across all operations * Sound principles of governance and sustainability
Slide 15: Slide 15
Slide 16: Bridgewater, NSW; Mernda Villages, VIC
Bridgewater, NSW Mernda Villages, VIC
Slide 17: Engagement, Collaboration, Diversity
¢ Engagement ¢ Collaboration ¢ Diversity
Slide 18: Lakewood, NSW; Optus HQ, NSW
Lakewood, NSW Optus HQ, NSW int aM na
Slide 19: Matthew Quinn, Managing Director
Matthew Quinn Managing Director 8) Stockland
Slide 20: Outstanding Financial Performance
Outstanding Financial Performance ¢ Record results * Strength and scale of diversified business model * Excellent profit growth Stockland 20
Slide 21: Revenue
Revenue © Stockland
Slide 22: Net Profit After Tax
Net Profit After Tax 8) Stockland
Slide 23: Security Holder Returns
Security Holder Returns 41.5 cents 41.4 cents Earnings Distributions © per Security per Security Stockland
Slide 24: Security price performance versus indices
” Cc aoa = eed ® a aoa ® 2 2) — =~ = hon om OQ ® Y) © vie’ 1°) fom com SGP smmwREIT 200 comme ASX 200 330 | 280 | 230 | 180 | 130 = © Stockland 24
Slide 25: Delivery on Strategy
Delivery o on n Strategy * Diverse development pipeline ¢ Strong balance sheet ¢ Growth of Unlisted Property Funds business
Slide 26: John Schroder, CEO Shopping Centre Division
John Schroder CEO Shopping Centre Division 8) Stockland
Slide 27: Shopping Centre Division Portfolio Summary
AHH TH ANI Shopping Centre Division Portfolio Summary oe Ys —Cw i ORTFOLIO SU oe WU yy i, ye Os ye WOGs Bigg yy Wy, / Wy Ly i y yy
Slide 28: Shopping Centre Division Profit Growth
Shopping Centre Division Profit Growth Divisional operating profit 6.6% Comparable net income growth t 5.A% Revaluations t $41 7m Stockland
Slide 29: Stockland Baldivis, WA
Stockland Baldivis, WA ssonieie
Slide 30: Shopping Centre Division Market Outlook
Shopping Centre Division Market Outlook * Retail sales growth moderated to long term sustainable levels. ¢ Outlook for sector remains positive * Strong and trusted brand
Slide 31: Steve Mann, CEO Commercial and Industrial
Steve Mann CEO Commercial and Industrial © Stockland 31
Slide 32: Commercial and Industrial Portfolio Summary
a Commercial and Industrial Portfolio Summary Ney) oF ae a i co ay yy is yy i, _ PORTFOLIO SUMMAF a) yy iY yy Le 7 VY ee L Ly iii Le Uy Yj Ws aa iy yy yy Wy 7 7 yy Ly L , We a ii Ly j MG Bay ys wey Ye La a y i Z . Ge es V7) Mie gon 7 We yo So A ay Yi ey, a Wy a is ey Lo We ni G y a vi yy ae a | _ yy
Slide 33: Commercial and Industrial Highlights
ee Soe a as SS Oe 2S SS — rr—“‘“‘iCsi—sOsOOOOCOCisC*C‘Cisé 2 . . Commercial and Industrial Highlights Divisional operating profit { $210.7 m Revaluations 1 $223m Leased | 261,000m2
Slide 34: Commercial Market Outlook
ee ee. Ri en ee ee ee ee Commercial Market Outlook Demand for office space gathers momentum Brisbane and Perth showing strong growth Melbourne in solid shape Sydney CBD market improving
Slide 35: Optus HQ — Development Progress
Optus HQ — Development Progress ss Loos a —
Slide 36: Denis Hickey, CEO Development Division
Denis Hickey CEO Development Division © Stockland 36
Slide 37: Development Division Portfolio Summary
COCO CCC CCC... —rrr—“‘—.L—=UFT(YNasCs<s—s~ts—iri(a<‘a‘(a‘aSiéiOS~S~OC.._._CtsCi<sC;sCti;szC;sCsCt;sC;Ci;s i @..|§=—=—©=6—=—hr”— #§#.1.1smaseC—sms—sa—_—x—-_sX—"—_—m'_ss—“¥_(i—i_sie a rrrrtt~™—~—~—~—C—C—CUCU—C— =— é@.@.@. i. @ 4@4@é4@@.@.# === .._+.———._. ...=§.=§=—..— “i ‘iéara;wtCOCOtOCN rrrr—r™—r—
Slide 38: Development Division Highlights
Development Division Highlights Divisional operating profit $239 m Increased cy Stockland | 38
Slide 39: Development Division Market Leadership
Development Division Market Leadership ¢ Well recognised brand * Industry recognition ¢ Diversity of projects Liiiiiiiiiiiiiiiiiiiniiiiiiiiih SN III
Slide 40: North Lakes, QLD
North Lakes, QLD EN 40
Slide 41: Residential Market Outlook
Development Division Residential Market Outlook Fundamentals remain solid Strong employment and continued population growth Land in short supply Quality and geographic diversity
Slide 42: Market Conditions
Development Division Market Conditions NSW market remains soft, some signs of improvement QLD market is sound with strong underlying demand VIC market is stable with good affordability for new home buyers WA very strong with economic momentum sustaining high demand
Slide 43: Well Positioned for 2007
Development Division Well Positioned for 2007 ¢ Record contracts on hand * Sustainable performance * Delivery of development pipeline to underpin 2007 profits
Slide 44: Robb Macnicol, CEO Unlisted Property Funds
Robb Macnicol CEO Unlisted Property Funds 8) Stockland
Slide 45: Unlisted Property Funds Summary
ted Property Funds Summary is 10 Uni Portfol oF — _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Slide 46: Strategic Benefits of Unlisted Business
Unlisted Property Funds Strategic Benefits of Unlisted Business * Strategic capital partner for Stockland ¢ Number of new funds planned to launch to retail and wholesale investors
Slide 47: Greg Sear, Saville Hotel Group
Greg Sear (66) Saville Hotel Group 8) Stockland
Slide 48: Saville Hotel Group
Saville Hotel Group ¢ Reinvestment of capital in core operating business ¢ Sale process underway with strong interest
Slide 49: High Employee Engagement
a Seen ene ———— ee ese High Employee Engagement « Employee engagement score of 84% ¢ QOutperformed the Australian norm * High performing culture
Slide 50: Group Outlook
i vo a ie ge y ny ay 7 — = = — — << < = Toye Te Be Le Le ge | ae Ly Le LF a Ge LOH i Ae ee a Hp c ] pres 7 7 tye 7 a ic Group Outlook
Slide 51: Group Strategy
ae . = @2=—heemeE Ih 7 — : —rt—‘“Oi~O™OCOCTC—s—s—sSsSé; re ...... ee ee ee .....—( .....s—irsrs—CiC Group Strategy Create a world class diversified property group Capitalise on diversity of group Management capability International growth potential
Slide 52: Lisa Scenna
Lisa Scenna © Stockland
Slide 53: Group Strategy
ae . = @2=—heemeE Ih 7 — : —rt—‘“Oi~O™OCOCTC—s—s—sSsSé; re ...... ee ee ee .....—( .....s—irsrs—CiC Group Strategy Create a world class diversified property group Capitalise on diversity of group Management capability International growth potential
Slide 54: Graham Bradley, Chairman
Graham Bradley Chairman 8) Stockland
Slide 55: Resolutions
RESOLUTIONS 8) Stockland
Slide 56: Resolution: Amendment of the Stockland Trust Constitution
RESOLUTION 1 Amendment of the Stockland Trust Constitution THAT THE CONSTITUTION OF STOCKLAND TRUST BE AMENDED IN ACCORDANCE WITH THE PROVISIONS OF THE “SUPPLEMENTAL DEED POLL NO.11- STQCKLAND TRUST” TABLED AT THE MEETING AND SIGNED BY THE CHAIRMAN OF THE MEETING FOR THE PURPOSE OF IDENTIFICATION, A
Slide 57: Resolution: Amendment of the Stockland Trust Constitution, proxies held
Resolution 1 Amendment of the Stockland Trust Constitution PROXIES HELD Total number of proxies to vote for the 5,983,539,498 resolution: Total number of proxies to vote against the 6,958,618 resolution: Total number of proxies to abstain on the 14,558,610 resolution: Total number of proxies where t
Slide 58: Resolution: Financial Statements and Reports
RESOLUTION 2 Financial Statements and Reports S) Stockland
Slide 59: Resolution: Election of Director - Lyn Gearing
RESOLUTION 3 Election of Director - Lyn Gearing THAT MS LYN GEARING, WHO RETIRES IN ACCORDANCE WITH THE COMPANY'S CONSTITUTION AND, BEING ELIGIBLE AND HAVING OFFERED HERSELF FOR RE-ELECTION, |S RE-ELECTED AS A DIRECTOR OF THE COMPANY. 8) Stockland
Slide 60: Resolution: Election of Director - Lyn Gearing, proxies held
RESOLUTION 3 Election of Director — Lyn Gearing PROXIES HELD Total number of proxies to vote for the resolution: 832,475,409 Total number of proxies to vote against the resolution: 442,090 Total number of proxies to abstain on the resolution: 455,588 Total number of proxies where the proxy may vote
Slide 61: Resolution: Election of Director - Terry Williamson
RESOLUTION 4 Election of Director — Terry Williamson THAT MR TERRY WILLIAMSON, WHO RETIRES IN ROTATION IN ACCORDANCE WITH THE COMPANY'S CONSTITUTION AND, BEING ELIGIBLE AND HAVING OFFERED HIMSELF FOR RE- ELECTION, IS RE-ELECTED AS A DIRECTOR OF THE COMPANY. S) Stockland
Slide 62: Resolution: Election of Director - Terry Williamson, proxies held
RESOLUTION 4 Election of Director — Terry Williamson PROXIES HELD Total number of proxies to vote for the 832,598,276 resolution: Total number of proxies to vote against the 318,916 resolution: Total number of proxies to abstain on the 447,938 resolution: Total number of proxies where the proxy may
Slide 63: Nick Greiner, Deputy Chairman
Nick Greiner Deputy Chairman © Stockland
Slide 64: Resolution: Remuneration Report
RESOLUTION 5 Remuneration Report THAT THE COMPANY'S REMUNERATION REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2006 BE APPROVED. 6) Stockland
Slide 65: Resolution: Approval of Remuneration Report, proxies held
RESOLUTION 5 Approval of Remuneration Report PROXIES HELD Total number of proxies to vote for the resolution: 826,/51,923 Total number of proxies to vote against the resolution: 3,292,045 Total number of proxies to abstain on the resolution: 3,253,332 Total number of proxies where the proxy may vote
Slide 66: Resolution: Approval of Tax Exempt Employee Security Plan
RESOLUTION 6 Approval of Tax Exempt Employee Security Plan THAT APPROVAL IS GIVEN FOR ALL PURPOSES UNDER THE CORPORATIONS ACT AND THE LISTING RULES OF AUSTRALIAN STOCK EXCHANGE LIMITED FOR: G) THE ESTABLISHMENT OF A PLAN, TO BE CALLED THE STOCKLAND TAX EXEMPT EMPLOYEE SECURITY PLAN (‘TEP’) FOR THE P
Slide 67: Resolution: Tax Exempt Employee Security Plan, proxies held
RESOLUTION 6 Approval of Tax Exempt Employee Security Plan PROXIES HELD Total number of proxies to vote for the 825,112,240 resolution: Total number of proxies to vote against the 4,423,523 resolution: Total number of proxies to abstain on the 3,307,297 resolution: Total number of proxies where the
Slide 68: Resolution: Non Executive Director Security Acquisition Plan
RESOLUTION 7 Approval of Non Executive Director Security Acquisition Plan THAT APPROVAL IS GIVEN FOR ALL PURPOSES UNDER THE CORPORATIONS ACT AND THE LISTING RULES OF AUSTRALIAN STOCK EXCHANGE LIMITED FOR: (A) THE ESTABLISHMENT OF A PLAN, 10 BE CALLED THE STOCKLAND NON-EXECUTIVE DIRECTOR SECURITY ACQ
Slide 69: Resolution: Non-Executive Director Security Plan, proxies held
RESOLUTION 7 Approval of Non-Executive Director Security Acquisition Plan PROXIES HELD Total number of proxies to vote for the 824, 734,900 resolution: Total number of proxies to vote against the 6,235,394 resolution: Total number of proxies to abstain on the 2,137,684 resolution: Total number of pr
Slide 70: Resolution: Approval of Performance Rights Plan
RESOLUTION 8 Approval of Performance Rights Plan THAT APPROVAL IS GIVEN FOR ALL PURPOSES UNDER THE CORPORATIONS ACI AND THE LISTING RULES OF AUSTRALIAN STOCK EXCHANGE LIMITED FOR: (A) THE ESTABLISHMENT OF A PLAN, TO BE CALLED THE STOCKLAND PERFORMANCE RIGHTS PLAN (‘PRP’) FOR [HE PROVISION OF INCENTI
Slide 71: Resolution: Performance Rights Plan, proxies held
RESOLUTION 8 Approval of Performance Rights Plan PROXIES HELD Total number of proxies to vote for the resolution: 821,942,312 Total number of proxies to vote against the resolution: 1,618,985 Total number of proxies to abstain on the resolution: 3,3/8, 734 Total number of proxies where the proxy may
Slide 72: Resolution: Grant of Performance Rights to the Managing Director
RESOLUTION 9 Grant of Performance Rights to the Managing Director THAT, SUBJECT TO THE APPROVAL OF RESOLUTION 8 IN THE NOTICE OF MEETINGS CONVENING THIS MEETING, APPROVAL IS GIVEN FOR ALL PURPOSES UNDER THE CORPORATIONS ACT AND THE LISTING RULES OF AUSTRALIAN STOCK EXCHANGE LIMITED FOR: (A) THE PART
Slide 73: Resolution: Grant of Performance Rights to the Finance Director
RESOLUTION 10 Grant of Performance Rights to the Finance Director THAT, SUBJECT TO THE APPROVAL OF RESOLUTION 8 IN THE NOTICE OF MEETINGS CONVENING THIS MEETING, APPROVAL IS GIVEN FOR ALL PURPOSES UNDER THE CORPORATIONS ACT AND THE LISTING RULES OF AUSTRALIAN STOCK EXCHANGE LIMITED FOR: (A) THE PART
Slide 74: Resolution: Performance Rights to Managing Director, proxies held
RESOLUTION 9 Grant of Performance Rights to the Managing Director PROXIES HELD Total number of proxies to vote for the 820,238,739 resolution: Total number of proxies to vote against the 8,371,468 resolution: Total number of proxies to abstain on the 4,326,488 resolution: Total number of proxies whe
Slide 75: Resolution: Performance Rights to Finance Director, proxies held
RESOLUTION 10 Grant of Performance Rights to the Finance Director PROXIES HELD Total number of proxies to vote for the resolution: 820,162,173 Total number of proxies to vote against the resolution: 8,368,496 Total number of proxies to abstain on the resolution: 4,384,985 Total number of proxies whe
Slide 76: David Fairfull, Non-Executive Director
David Fairfull Non-Executive Director © Stockland
Slide 77: Disclaimer
DISCLAIMER Corporation/ Responsibie Entity Stockland Corporation Limited ACN 000 181 733 Stockland Trust Management Limited ACN 001 900 741 16'" Floor 157 Liverpool Street SYDNEY NSW. 2000 Disclaimer of Liability: While every effort is made to provide accurate and complete information, Stockland doe