Slide 1: Improving portfolio quality
mproving portfolio quali + Diversity in earnings ~@ Leveraging core skills Page 1
Slide 2: Distribution and earnings per unit
Distribution Earnings . (cents (cents per unit) ~ 191 193 197 204° 18.86 19.30 19.70 20.41 et opera Totalassets S—s—=~CS*~*é«S@ illo : Total borrowings oe $1.36 billion Ing income Page 2
Slide 3: Portfolios well positioned for growth
_¢ Portfolios well positioned for growt 6 Developments underway -= $620m commenced — ~~ $500m plus next 5 years Page 3
Slide 4: Portfolio in great shape to deliver growth
+ Portfolio in great shape to deliver growth — - = Total centre sales per sqm up 3.0% ; - Specialty sales per-sqm up.3.3%: JHD Averages | Page 4
Slide 5: Outperformance, occupancy 99%
470% Outperfor 6 Occupancy 99% “6 Rental growth 9.9% at review opportunity Page 5
Slide 6: Developments underway and operating metrics
—. Sunshine Plaza ($20m) - * Underway | _ Floreat Forum (846m) ~ Erina Fair ($1 05m). — Melbourne Central (8226. 5m) “ -— Operating metrics in great shape ~ = Access to renewals in key.assets : _ - Homemaker assets delivering - - Full ownership of Penrith Plaza. Page 6
Slide 7: Occupancy remains high
--« Occupancy remains high _ _ = Continued success in re-leasing ~~ Strong lease expiry profile oe Page 7
Slide 8: Leasing and lease expiry profile
~ ¢ 75,000 sqm to 31 Dec 2002 13.3% 8.3% 03% - ¢ Average lease term 5.3 years = Leveraged to Sydney market - ¢ Minimal vacancy — majority in Sydney ¢ Quality assets, strong covenants . Page 8
Slide 9: Hotel/Tourism $500 million (8%)
~ Hotel/Tourism $500 million (8%) ANAT HATTA nectar ec ne Page 9
Slide 10: Hotel occupancy and room rate
= Occupancy = Occupancy ~~ Room Rate — GPT.Income +8. 0% + , Four Points by Sheraton Sydney +11.0%. : ; -2.0% +9.0% ‘Business industrial/. Page 10
Slide 11: Acquisition, developments, gearing and borrowings
+ Acquisition of 7 Parkview Drive ° Developments Sas -= Quad 2 complete. - ~ Stage 1 Camellia complete (API). ~ Stage 2 Camellia, 43% pre-leased.: : Quad.3.(DA.approved + Gearing of 20.3% (limit 40%) « Termination of DRP co “+ Borrowings ; cs Maturities from within one month to 2029 ~ 92% hedged. :
Slide 12: Earnings growth at 3.6%
Earnings growth at 3.6% zs Portfolios well positioned ; + Low debt. ity to.continue to. deliver. . Page 12
Slide 13: Portfolio asset list
Aus Gi HSBC Centre 7 .MLC Centre (50%) ~.. Tattersalls Melbourne Ceniral 530 Collins/4120 King Riverside Centre Black Ink House . Transit Centre (50%) (Ex Hotel) 10 & 12 Mort : 633 487 AAG 464 396 327. 277 392 » 8,200 4,700 4,400. 4,500 4,500 2,400 2,700 3,400 Page 13