Growthpoint Properties Australia · ASX:GOZ

Growthpoint Properties Australia — Investor Presentation (June 2011)

41 slides from Growthpoint Properties Australia's investor presentation, Jun 21, 2011

1. Slide 1: Rights Offer Presentation

   GROWTHPOINT PROPERTIES For personal use only AUSTRALIA (ASX: GOZ) RIGHTS OFFER PRESENTATION TAKEOVER OF RABINOV PROPERTY TRUST ACQUISITION OF ENERGEX BUILDING, NUNDAH, QLD 21 June 2011 GE Building 2, 572-576 Swan Street, Richmond, VIC

2. Slide 2: Important Notice

   For personal use only IMPORTANT NOTICE This presentation has been prepared by Growthpoint Properties Australia Limited ACN 124 093 901 (both in its capacity as responsible entity of Growthpoint Properties Australia Trust ARSN 120 121 002 and in its own capacity). In this presentation, ‘Group’ means

3. Slide 3: Important Notice (cont.)

   For personal use only IMPORTANT NOTICE (CONT.) Future performance and forward looking statements This presentation contains certain “forward-looking statements”. The words “anticipate”, “believe”, “expect”, “project”, “predict”, ”forecast”, “estimate”, “likely”, “intend”, “should”, “could”, “may”, “

4. Slide 4: Contents

   For personal use only CONTENTS 1. Executive Summary 2. Rights Offer Overview 3. Financial Impact 4. Energex Nundah 5. Portfolio Summary 6. Timetable and Conclusion 7. Key Risks 8. Appendices: Property Summaries 9. Glossary 7 Laffer Drive, Bedford Park, SA 4

5. Slide 5: Executive Summary

   For personal use only EXECUTIVE SUMMARY 365 Fitzgerald Road, Derrimut, VIC

6. Slide 6: Executive Summary

   EXECUTIVE SUMMARY For personal use only • Rabinov Property Trust (“Rabinov”) takeover offer declared unconditional on 7 June 2011 and successfully closed on 15 June 2011 Rabinov Takeover • Will proceed to compulsory acquisition of the remaining Rabinov units • Rabinov adds six complementary assets t

7. Slide 7: Executive Summary (cont.)

   EXECUTIVE SUMMARY (CONT.) For personal use only GOZ Overview GOZ Snapshot Pro forma FY12 distribution per Stapled Security (“DPS”) of 17.5 cents Market capitalisation1 $555m Asset base to c. $1.24bn – a large A-REIT listed on the ASX Number of properties2 37 which derives its revenue from rental inc

8. Slide 8: Rights Offer Overview

   For personal use only RIGHTS OFFER OVERVIEW 7 Laffer Drive, Bedford Park, SA

9. Slide 9: Rights Offer Overview

   For personal use only RIGHTS OFFER OVERVIEW • $102.6m Renounceable Rights Offer of 1 New Stapled Security for every 4.4 Stapled Securities held, at $1.90 per New Stapled Security • Growthpoint SA has committed to taking up its Rights ($62.1m of entitlements) and underwrite the balance of the Rights

10. Slide 10: Rights Offer Overview (cont.)

    For personal use only RIGHTS OFFER OVERVIEW (CONT.) Offer Metrics Offer Price $1.90 FY12 pro forma DPS guidance (Cents) 1 17.5 FY12 pro forma DPS yield on offer price2 9.2% Pro forma NTA per Stapled Security as at 31 Dec 20103 $2.00 Discount to Pro-forma NTA (as at 31 Dec 2010) 3 5.0% Key Offer Date

11. Slide 11: Sources and Application of Funds

    For personal use only SOURCES AND APPLICATION OF FUNDS • Proceeds from the Rights Offer will be used for the acquisition of the land for the Energex Nundah development, to reduce gearing and pay down debt and pay transaction costs Sources $m Applications $m Rights Offer 102.6 Energex Nundah land acq

12. Slide 12: Post Transaction GOZ Securityholding

    For personal use only POST TRANSACTION GOZ SECURITYHOLDING • Impact on Growthpoint Properties Australia security register is dependent on Rights Offer take-up by Securityholders other than Growthpoint SA • Growthpoint SA will take up its full Rights entitlement under the Rights Offer. However, Growt

13. Slide 13: Financial Impact

    For personal use only FINANCIAL IMPACT 306-318 Abbotts Road, Lyndhurst, VIC

14. Slide 14: Financial Impact on GOZ Distributions

    For personal use only FINANCIAL IMPACT ON GOZ DISTRIBUTIONS • FY12 pro-forma distribution guidance of 17.5 cents per existing Stapled Security • New Stapled Securities issued under the Rights Offer will receive a pro rata half year distribution in respect of the period from the date of issue to 31 D

15. Slide 15: Pro Forma Balance Sheet

    For personal use only PRO FORMA BALANCE SHEET In $m, unless otherwise Pro forma post Rights Offer Asset Sale Pro forma post Rabinov Pro forma post Rabinov noted Rabinov Takeover adjustments adjustments Takeover and post Takeover, post Rights Offer and using 31 December Rights Offer using 31 post Ene

16. Slide 16: Debt Terms

    For personal use only DEBT TERMS • GOZ has obtained approval from its banking Summary of Revised Facilities syndicate to increase headroom in its debt Size1 $660m facility with $587m drawn facilities to $60m to a total facility size of $660m post Rights Offer and Rabinov Transaction • No refinancing

17. Slide 17: Energex Nundah

    For personal use only ENERGEX NUNDAH 1231 – 1241 Sandgate Road, Nundah, Brisbane

18. Slide 18: Energex Nundah

    For personal use only ENERGEX NUNDAH • Acquisition of land and development of new office building • Vendor of land and developer appointed under a Delivery Agreement with GOZ, are entities associated with Property Solutions Group • Part of Circa Nundah Village development at 1231 – 1241 Sandgate Roa

19. Slide 19: Energex Nundah - Acquisition Summary

    ENERGEX NUNDAH - ACQUISITION SUMMARY For personal use only Location 1231 – 1241 Sandgate Road, Nundah, Brisbane, Queensland Lettable area and car parks 12,910m2 and two levels of car parking Site area 4,451m2 Ownership Freehold Tenants Energex Limited (15 year lease from practical completion, 8,733m

20. Slide 20: Brisbane Office Market

    For personal use only BRISBANE OFFICE MARKET Brisbane CBD Prime Rents and vacancy • Economic outlook favourable, driven by 1,000 12.0 Forecast resources sector and recovery in other 900 10.0 market sectors 800 8.0 Prime rental rate ($/sq m) • Brisbane office market exhibiting strong 700 6.0 % vacanc

21. Slide 21: Portfolio Summary

    For personal use only PORTFOLIO SUMMARY GE Buildings 1 & 3, 572-576 Swan Street, Richmond, VIC

22. Slide 22: Portfolio Summary

    For personal use only PORTFOLIO SUMMARY Portfolio Overview (Post Energex Nundah completion) Sector diversity (Post Energex Nundah completion) Car Park 1% No of properties 1 37 Office WALE1 8.9 34% Property Value1 $1.24 billion Weighted Average Cap Rate1 8.4% Industrial 65% Occupancy1 100% Average Pr

23. Slide 23: Portfolio Summary: Tenant Profile

    For personal use only PORTFOLIO SUMMARY Growthpoint Properties Australia Tenant Profile (by rent) Lease expiry profile (post Transaction) Top 10 tenants (post Transaction) % Rental Tenant WALE1 100.0% Income1 Woolworths Limited 37% 11.2 80% GE Capital Finance Australasia 9% 6.8 80.0% Coles Group Lim

24. Slide 24: Timetable and Conclusion

    For personal use only TIMETABLE AND CONCLUSION 7 Laffer Drive, Bedford Park, SA

25. Slide 25: Key Dates

    For personal use only KEY DATES Event Indicative date Rights Offer announced via ASX 21 June 2011 Lodge Rights Offer Booklet, cleansing statement and appendix 3B 21 June 2011 Ex-date for Rights Offer and commencement of Rights Trading 23 June 2011 Rights Offer Record Date 29 June 2011 Offer opens 30

26. Slide 26: Conclusion

    For personal use only CONCLUSION • Rabinov takeover and Energex Nundah transaction enhances GOZ’s high quality property portfolio, increasing scale and diversification of earnings. Income from office portfolio to account for 35% of rental income • GOZ highlights post Rights Offer: – 100% domestic as

27. Slide 27: Key Risks

    For personal use only KEY RISKS 365 Fitzgerald Road, Derrimut, VIC

28. Slide 28: Key Risks

    KEY RISKS For personal use only • Market Perception Risk • Stapled Security Market Prices • Acquisitions • Interest Rates • Trust Taxation Status • Insurance • Property Valuation Risk • Property Market Risks • Portfolio Acquisition Risk • Debt Covenants • Integration Risks • Litigation and Disputes

29. Slide 29: Key Risks

    KEY RISKS For personal use only Market Perception Risk •The extent to which the Rights Offer enhances value for Securityholders depends on the Rights Integration Risks Offer being viewed as a positive initiative by the market. There is a risk that this will not be the •There are risks that any integ

30. Slide 30: Key Risks

    KEY RISKS For personal use only Stapled Security Market Prices Employees and Directors •The market price of the Stapled Securities will depend on a variety of factors. The price at which these •The Group is reliant on retaining its key directors, senior executives and other Stapled Securities trade

31. Slide 31: Appendices: Property Summaries

    For personal use only APPENDICES: PROPERTY SUMMARIES 66 Kennedy Drive, Cambridge, TAS

32. Slide 32: Energex Nundah Details

    ENERGEX NUNDAH DETAILS 1231 – 1241 Sandgate Road, Nundah, Brisbane, Queensland For personal use only Address 1231 – 1241 Sandgate Road, Nundah, Brisbane, Queensland To be constructed new office building with podium level retail Property description and two levels of basement car parking Lettable are

33. Slide 33: RBV Portfolio Details

    RBV PORTFOLIO DETAILS GE Building 2, 572-576 Swan Street, Richmond, VIC For personal use only Address Building 2, 572-576 Swan Street, Richmond, VIC Property description Modern 4 Level office building, 3 level basement parking Lettable area 14,660 square meters Site area 7,201 square meters Car park

34. Slide 34: RBV Portfolio Details

    RBV PORTFOLIO DETAILS GE Buildings 1 & 3, 572-576 Swan Street, Richmond, VIC For personal use only Address Buildings 1 & 3, 572-576 Swan Street, Richmond, VIC A modern two level office with courtyard adjoining a further Property description single level office building. Lettable area 10,250 square m

35. Slide 35: RBV Portfolio Details

    RBV PORTFOLIO DETAILS 66 Kennedy Drive, Cambridge, TAS For personal use only Address 66 Kennedy Drive, Cambridge, TAS A modern office building, purpose built for Hydro Tasmania Property description Consulting Lettable area 6,876 square meters Site area 28,080 square meters Car parks 163 Ownership Fr

36. Slide 36: RBV Portfolio Details

    RBV PORTFOLIO DETAILS 7 Laffer Drive, Bedford Park, SA For personal use only Address 7 Laffer Drive, Bedford Park, SA Property description A modern single level call centre facility Lettable area 6,639 square meters Site area 33,090 square meters Car parks 520 Ownership Freehold Constructed 2001 Ten

37. Slide 37: RBV Portfolio Details

    RBV PORTFOLIO DETAILS 365 Fitzgerald Road, Derrimut, VIC For personal use only Address 365 Fitzgerald Road, Derrimut, VIC A modern warehouse and distribution centre, featuring two Property description office levels, tyre fitting area and showroom Lettable area 14,021 square meters Site area 29,860 s

38. Slide 38: RBV Portfolio Details

    RBV PORTFOLIO DETAILS 306-318 Abbotts Road, Lyndhurst, VIC For personal use only Address 306-318 Abbotts Road, Lyndhurst, VIC Property description A modern industrial office/warehouse facility Lettable area 10,710 square meters Site area 25,830 square meters Car parks 150 Ownership Freehold Construc

39. Slide 39: Glossary

    For personal use only GLOSSARY 7 Laffer Drive, Bedford Park, SA

40. Slide 40: Glossary

    For personal use only GLOSSARY $ All dollar values are in Australian dollars GLA Gross lettable area ASX Australian Securities Exchange or ASX Limited NTA Net tangible assets per Stapled Security cps Cents per Stapled Security The booklet comprising the offer to subscribe for New Stapled DPS Distrib

41. Slide 41: Thank You

    For personal use only THANK YOU For further information contact: Timothy Collyer, Managing Director or Aaron Hockly, Company Secretary Investor information line: 1800 260 453 info@growthpoint.com.au www.growthpoint.com.au

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