Slide 1: First Half FY07 Results
FIRST HALF FY 07 RESULTS CHARTER HALL
Slide 2: Contents
CONTENTS ¥ FIRST HALF FY 07 IN REVIEW v¥ FUNDS UPDATE v¥ FINANCIALS CHARTER HALL GROUP . FIRST HALF FY O7 RESULTS
Slide 3: In Review: Highlights
FIRST HALF FY 07 IN REVIEW : HIGHLIGHTS ¥ 15 assets acquired totalling $820m in value ¥ $500m of equity commitments raised for Core Plus Office Fund (CPOF) ¥ 73% of CPOF equity allocated with $734m of assets acquired ¥ CPOF acquired 50% interest in $550m Northbank Plaza / 275 George Street Brisbane
Slide 4: In Review: Highlights
FIRST HALF FY 07 IN REVIEW : HIGHLIGHTS 4.77cps 3.28cps +45.4% 3.05cps? +48,8% $7.8m +114.1% 1. Based on initial 7c instalment ai IPO 2. EPS shown is pre-fair value $0 73 Sa 23 2% adjustment. After fair value 7 , adjusiment EPS for 1H FY O7 is 4.69cps and for 1H FY 06 is (0.22)eps. 1H FY 06 EPS loss
Slide 5: In Review: Key Events
FIRST HALF FY 07 IN REVIEW : KEY EVENTS ! CPIF EPOE | CHOF 4 / ‘ a 5 George Gt/ Northbank Plaza Brisbane Pinkenba Brisbane, acquired for $10 4m GED “Cyenr, 50 doocamle ae CPIF _ CPORICHOF 4 Northbank Plaza, Brisbane CED Bye: © 800s ease to Parsons Brackerholt DEC 06 A. bore Bydney, Bulky NOV 06 iy N
Slide 6: In Review: Key Events (Continued)
FIRST HALF FY 07 IN REVIEW : KEY EVENTS (Continued) COR 333 George SI Sydney CED Office teen acquired for S60 | BU Am realising 979 : PDP 3 CHARTER HALL GROUP . FIRST HALF FY O7 RESULTS 8
Slide 7: In Review: CHC Security Price
FIRST HALF FY 07 IN REVIEW : CHC SECURITY PRICE cme = == TaalRen MatetCep —_geptm CHARTER HALL GROUP . FIRST HALF FY O7 RESULTS $2.60 $2.40 $2.20 $2.00 $1.80 $1.60 $1.40. 120 st nt) $0.80 dun-05 CHC ASX LPT 300 Aug05.-.. Ock05.-... Dae-05 Feb-06 Apr-06 Jun06 Aug06 Oct-06 :--. Deo-06 °°. Feb-07
Slide 8: In Review: Product Spectrum
FIRST HALF FY 07 IN REVIEW : PRODUCT SPECTRUM OPPORTUNISTIC CHOF 4, CHOF 5 Core investven's 10% core 30% enhanced CHARTER HALL GROUP . FIRST HALF FY O7 RESULTS 8
Slide 9: In Review: Current Vehicles
FIRST HALF FY 07 IN REVIEW : CURRENT VEHICLES CHARTER HALL OPPORTUNITY FUND 5 (CHOF 5)" CHARTER HALL OPPORTUNITY FUND 4 (CHOF 4) [CORE PLUS OFFICE FUND (CPOF) Open 3% 5 || $500m || $165m |] 82% 05 || iat, 20% 9 || $734m || $600m |] 73% 08 || (acta, 20% 5 |] $181m || $350m* |) N/A o7 Open 20% 6 $90m
Slide 10: In Review: Co-Investment Model
FIRST HALF FY 07 IN REVIEW : CO-INVESTMENT MODEL 3% & 20% CHOF 4&5 epean MH __Meniene ¥ 4 wo inta Olner Managers’ Funds Kalgocrlie WA, “ Asset Values CHARTER HALL GROUP . FIRST HALF FY 07 RESULTS * Excludes CHPT's investment in CPOF, CPIF& DPF 10
Slide 11: In Review: Deal Flow
FIRST HALF FY 07 IN REVIEW : DEAL FLOW ws CPOF Remaining Asset Capacity « Opportunistic Assets (completion value} mCore & Core Plus Assets Sa0em 2002 2003 2004 2005 2006 ¥ $2.4 billion current AUM ¥ Approx 30 deals totalling $1.7 billion completed in 05-06 period (90% off-market) across property sec
Slide 12: Results: Funds Update
FIRST HALF FY 07 RESULTS : FUNDS UPDATE CHARTER HALL
Slide 13: CHPT Update
CHPT UPDATE ¥ In line with its strategy, CHC (via CHPT’s balance sheet) continues to seed new funds with assets and takes approx 20% co-investment stake in those ¥ 4new industrial properties acquired which, along with already owned Tullamarine asset, form CPIF seed property portfolio v2 new Bunnings
Slide 14: CHPT Update
CHPT UPDATE Nunawading, Mentone Mendi,7.2% 12.8% Haney Chulora, 3.4% Bourke, 12.4% Kent, 4.5% age? meet Bunniegs Ben, 1.7% CPIF, 6.9% Bunrings Kal, DPF, 3.3% 12% CPOF, 32.6% ASSET DIVERSIFICATION By Value Industial 116% Retail / Bulky Goods Reiail 46.5% 41.9% SECTORAL DIVERSIFICATION By income CHART
Slide 15: CPOF Update
CPOF UPDATE ¥ $500m of equity commitments raised ¥ 9 assets totalling $734m acquired in first half FY 07 ¥ 73% of equity allocated and increase in equity commitments by existing investors will be sought in Q3 FY 07 ¥ High quality, geographically diversified property portfolio across WA, QLD, NSW and
Slide 16: CPOF Update: Property Portfolio
CPOF UPDATE : PROPERTY PORTFOLIO Atrium Northbank St George Bank Sydney NSW Plaza HQ $139.2m Brisbane QLD Sydney NSW _ (100% Ownership) $90.0m $126.0m {80% Ownership) (100% Ownership) 333 & 334 275 George St Bank SA George St Brisbane QLD Adelaide SA Sydney NSW $185.0m $20.0m $76.5m {80% Ownership}
Slide 17: CPOF Update: Property Portfolio
CPOF UPDATE : PROPERTY PORTFOLIO Adelaide, Kogarah, 27% cee 18.9% Georges String St, Tee, 8.3% Stage 2, 8.0% a Northbank, Sfirling St, 14.4% 4.3% | 333 George St 9.3% Atrium, ASSET DIVERSIFICATION By Value 275 George St 21.0% CHARTER HALL GROUP . FIRST HALF FY O7 RESULTS QLD, 32.2% Re gs. 27% NSW, 4
Slide 18: CPIF Update
CPIF UPDATE ¥ $350m target equity raising on track with First Close in March 07 ¥ Appetite from a number of new investors seeking exposure to industrial core plus product ¥ 5 quality seed assets assembled totalling $181m which are diversified across WA, QLD and VIC and have a WALE of over 16 years v
Slide 19: CPIF Update: Property Portfolio
CPIF UPDATE : PROPERTY PORTFOLIO Coles Myer Toll, Viola Place Distribution Centre Brisbane QLD Perth WA $9.5m $1 16.1m (160% Ownership} (75% Ownership) Pinkenba Wesfarmers, Geebung Brisbane QLD Brisbane QLD $24.7m $7.5m (100% Ownership) (100% Ownership} Tullamarine Melbourne VIC $23.6m (100% Ownersh
Slide 20: CPIF Update: Property Portfolio
CPIF UPDATE : PROPERTY PORTFOLIO Toll, 5.2% Geebung, 4.2% Tullamarine, 13.0% Coles, 63.9% Pinkenba, 13.6% ASSET DIVERSIFICATION By Value CHARTER HALL GROUP . FIRST HALF FY O7 RESULTS QLD, 23.0% WA, 63.9% wie, a / GEOGRAPHIC DIVERSIFICATION By Value Pinkenba Lg 84 Tullamarine 64 Geebung | 10.0 Tol to
Slide 21: DPF Update: Property Portfolio
DPF UPDATE : PROPERTY PORTFOLIO Coles Myer Distribution Corio Retail Centre Centre Geelong VIC Perth WA $11.4m $38.7m (100% Ownership) (25% Ownership) (75% CPIF) 400 Kent St “Mulgrave a Sydney NSW Geelong VIC $13.2m $5.7m (25% Ownership} (100% Ownership} (50% CHPT, 25% CHIF 8) 481 St Georges Tce 285
Slide 22: DPF Update: Property Portfolio
DPF UPDATE : PROPERTY PORTFOLIO Mulgrave, 6.6% St Pauls Tee, 5.4% Corio, 12.8% St Georges Too, 16.9% Kent St Coles Myer, 13.7% 44.6% ASSET DIVERSIFICATION By Value Retal 12.6% Office 43.4% ; Industrial 43.9% SECTORAL DIVERSIFICATION By income CHARTER HALL GROUP . FIRST HALF FY O7 RESULTS aLb 5.4% WA
Slide 23: CHOF Update
CHOF UPDATE ¥ The $550m Northbank Plaza / 275 George Street, Brisbane : — Telstra pre-commits to 50,000sqm lease — largest Brisbane CBD lease — 50/50 JV with CPOF v 2new CHOF 4 projects secured : — Office tower at Mounts Bay Rd in Perth, $144m completion value (JV) — Bulky goods retail centre at Nor
Slide 24: CHOF Update: Current Projects
CHOF UPDATE : CURRENT PROJECTS 275 George Street, Brisbane New 40,000sqm A-grade, 30-level office tower, 7 1,500sqm retail space and 240 car spaces. 80% pre-leased to Talstra on a 10 year lease. Targeting 5 star Green Star rating and 4.5 slar ABGR. Floor plate 1,280sqm. Completion value $370m, 50% J
Slide 25: Results: Financials
FIRST HALF FY 07 RESULTS : FINANCIALS CHARTER HALL
Slide 26: Financials
FINANCIALS INCOME STATEMENT Notes 6mthsto 6 mihsto (#039;000) SUi206 = 31/12/05 Property income 1 9,698 6,856 Corporate income 2 11,221 5,752 Investment income 3 1,621 0 Total income 22,540 12,608 Operating expenses (5,374) (3,813) EBIT 17,166 8,795 Interest received 4 1,667 646 Interest paid (2,157) (
Slide 27: Financials
FINANCIALS BALANCE SHEET 31/1206 30/06/06 (#039;000) Current assets 21,693 204,019 Non current assets 404,502 301,039 Total assets 426,195 505,058 Current liabilities 21,203 84,502 Non current liabilities 78,207 141,086 Total liabilities 99,410 225,588 Equity 326,785 279,470 Key items Direct property (