Goodman Group · ASX:GMG
Goodman — Macquarie Goodman Group — Shareholder Meeting (November 2006)
35 slides from Goodman's shareholder meeting presentation, Nov 16, 2006
Slide 1: Macquarie Goodman Group Annual General Meeting
Macquarie Goodman Group Annual General Meeting 16 November 2006 1
Slide 2: Directors
Directors Æ Mr David Clarke Æ Ms Anne Keating Chairman Independent Director Æ Mr David Teplitzky Æ Mr Jim Sloman Independent Deputy Chairman Independent Director Æ Mr Gregory Goodman Æ Mr Patrick Goodman Group Chief Executive Officer Non-Executive Director Æ Mr Ian Ferrier Æ Mr James Hodgkinson Inde
Slide 3: Highlights
Highlights Æ A truly international business 3
Slide 4: Highlights (cont)
Highlights (cont) Æ After tax profit of $500 million Æ Normalised operating earnings of 26.7 cps Æ Distributions of 27.5 cps Æ Australia’s top performing LPT with a total return of 55.4% Æ There are three key arms to Macquarie Goodman’s business: Æ Investment Æ Development Æ Management 4
Slide 5: Customer Service Model
Customer Service Model Æ Underpins the long-term term commitment to our customers and identifies their diverse property requirements 5
Slide 6: Global Expansion
Global Expansion Æ Successfully replicated our business model overseas Æ Acquired or partnered with like-minded enterprises with well established operations Æ Potential for earnings growth and higher returns Æ Acquired Arlington in December 2005 Æ Capitalised on our strong funds management platform
Slide 7: Securityholder Returns
Securityholder Returns Æ 6% increase in distributions, from 26 to 27.5 cents per security Æ Security price rose from $4.08 to $6.00 per security Æ 70% increase in market capitalisation to $9.7 billion Æ Security Purchase Plan offered at a discount of approx. 2% Æ Distribution Reinvestment Plan allow
Slide 8: Macquarie Bank Selldown
Macquarie Bank Selldown Æ Macquarie Bank sold its 7.7% holding in Macquarie Goodman Æ Macquarie Goodman and Macquarie Bank will continue to jointly manage Macquarie Goodman Asia Æ Several senior Macquarie executives continue to serve on Macquarie Goodman’s Board Æ Macquarie Goodman will rebrand its
Slide 9: Board Changes
Board Changes Æ Appointment of Jim Sloman Æ Provides Macquarie Goodman with a majority independent board 9
Slide 10: Successful Integration
Successful Integration Æ Performed well across all business segments and all regions including Australia, New Zealand, Asia and Europe Æ Successfully integrated the business by retaining key management Æ Utilised local expertise in local markets Æ Ensured the culture and philosophies of the Group ar
Slide 11: Property Investment
Property Investment Æ Total property investment portfolio valued at $4.6 billion Æ Direct/core, cornerstone and warehoused investments Æ Intensive management and buoyant market conditions delivered strong underlying performance results Æ Income from our direct holdings was supplemented by distributi
Slide 12: Funds Management Platform
Funds Management Platform Æ Retained cornerstone investments in listed and wholesale funds Æ Recycled capital to take advantage of acquisition opportunities Æ Total funds under management have reached $30 billion post the Akeler acquisition Æ Approx 25% growth in UK funds under management since acqu
Slide 13: Development
Development Æ $900 million of new space completed MGQ Development Completions (net lettable area) * Includes Arlington but excludes Eurinpro operations Æ $1.6 billion in new development commitments Æ Sizeable global landbank Æ $2.5 billion of development projects in progress ($2.8 billion post the A
Slide 14: Capital Management
Capital Management Æ Take a measured approach to capital management Æ Only invest in initiatives that support our business model Æ Continuously recycled capital to create an additional revenue stream through our specialist funds Æ Maintained gearing at a conservative 32.2% 14
Slide 15: Conclusion
Conclusion Æ Emerged as a global business with international operations, customers and investors Æ Maintained a strong foothold in Australia Æ Continue to examine global strategies, particularly in Asia and Europe Æ Confident in the strength of our core businesses and pursuit of strategic global opp
Slide 16: Formal Business
” ” oy) & n =) aa) © = O Le — UBWLUPOOH auenboey\|
Slide 17: Resolution 1
Resolution 1 Re-election of Director – Mr David Clarke To consider and, if thought fit, pass the following ordinary resolution of MGM: “That Mr David Clarke, a director of MGM retiring in accordance with the Constitution, is re-elected as a director of MGM.” 17
Slide 18: Resolution 2
Resolution 2 Re-election of Director – Mr Ian Ferrier To consider and, if thought fit, pass the following ordinary resolution of MGM: “That Mr Ian Ferrier, a director of MGM retiring in accordance with the Constitution, is re-elected as a director of MGM.” 18
Slide 19: Resolution 3
Resolution 3 Re-election of Director – Mr Jim Sloman To consider and, if thought fit, pass the following ordinary resolution of MGM: “That Mr Jim Sloman, a director of MGM appointed since the last annual general meeting of MGM and retiring in accordance with the Constitution, is re-elected as a dire
Slide 20: Resolution 4
Resolution 4 Adoption of Remuneration Report To consider and, if thought fit, pass the following ordinary resolution of both MGM and MGI: “That the remuneration report for the year ended 30 June 2006 be adopted.” 20
Slide 21: Resolution 5
Resolution 5 Approval for the proposed issue of Securities to underwriters of the DRP To consider and, if thought fit, pass the following special resolution of both MGM and MGI: “That the issue of Securities that are not subscribed for by Securityholders under the DRP for the distribution periods fr
Slide 22: Resolution 6
Resolution 6 Issue of Securities to Mr Gregory Goodman To consider and, if thought fit, pass the following ordinary resolution of both MGM and MGI: “That approval is given for all purposes under the Corporations Act and the Listing Rules for: (a) the issue of 2,000,000 Securities to Mr Gregory Goodm
Slide 23: Resolution 7
Resolution 7 Approval for increasing the directors’ fee pool To consider and, if thought fit, pass the following ordinary resolution of MGM: “That for the purposes of the Constitution and Listing Rule 10.17, the maximum aggregate remuneration that may be paid to all of the non-executive directors of
Slide 24: Resolution 8
Resolution 8 Approval for the future issue of options under the EOP To consider and, if thought fit, pass the following ordinary resolution of both MGM and MGI: “That approval is given for all purposes under the Listing Rules for the issue of options over Securities under the EOP as amended for a pe
Slide 25: Resolution 9
Resolution 9 Ratification of options previously issued under the EOP To consider and, if thought fit, pass the following ordinary resolution of both MGM and MGI: “That approval is given for all purposes under the Corporations Act and the Listing Rules for the 18,876,000 options issued under the EOP
Slide 26: Resolution 1
Resolution 1 Re-election of Director - Mr David Clarke Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,232,734,020 1,045,379,867 175,116,389 12,237,764 - 84.81% 14.20% 0.99% * Including Open proxies but excluding Abstain. 26
Slide 27: Resolution 2
Resolution 2 Re-election of Director - Mr Ian Ferrier Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,257,367,255 1,108,187,239 136,894,102 12,285,914 - 88.13% 10.89% 0.98% * Including Open proxies but excluding Abstain. 27
Slide 28: Resolution 3
Resolution 3 Re-election of Director - Mr Jim Sloman Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,257,353,782 1,244,773,639 298,828 12,281,315 - 99.01% 0.02% 0.97% * Including Open proxies but excluding Abstain. 28
Slide 29: Resolution 4
Resolution 4 Adoption of Remuneration Report Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,256,431,187 1,175,675,570 68,559,095 12,196,522 - 93.57% 5.46% 0.97% * Including Open proxies but excluding Abstain. 29
Slide 30: Resolution 5
Resolution 5 Approval for the proposed issue of Securities to underwriters of the DRP Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,250,516,278 1,234,772,733 3,569,953 12,173,592 - 98.73% 0.29% 0.98% * Including Open proxies but excluding Abstain. 30
Slide 31: Resolution 6
Resolution 6 Issue of Securities to Mr Gregory Goodman Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,111,992,687 1,035,220,045 64,743,068 12,029,574 - 93.10% 5.82% 1.08% * Including Open proxies but excluding Abstain. 31
Slide 32: Resolution 7
Resolution 7 Approval for increasing the directors’ fee pool Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,129,933,814 709,744,700 413,053,528 7,135,586 - 62.82% 36.55% 0.63% * Including Open proxies but excluding Abstain. 32
Slide 33: Resolution 8
Resolution 8 Approval for the future issue of options under the EOP Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,086,319,770 1,017,802,182 56,535,294 11,982,294 - 93.68% 5.21% 1.11% * Including Open proxies but excluding Abstain. 33
Slide 34: Resolution 9
Resolution 9 Ratification of options previously issued under the EOP Total Votes Total FOR Total AGAINST Total OPEN Lodged* 1,091,531,961 1,027,285,246 52,195,341 12,051,374 - 94.11% 4.78% 1.11% * Including Open proxies but excluding Abstain. 34
Slide 35: Thank you
Thank you Disclaimer This presentation has been prepared by Macquarie Goodman Group (Macquarie Goodman Management Limited ABN 69 000 123 071 and its controlled entities; Macquarie Goodman Funds Management Limited ABN 48 067 796 641; AFSL Number 223621, collectively “Macquarie Goodman Group” or the “
Macquarie Goodman Group — Shareholder Meeting (November 2006) on 6ix