Brookfield Office Properties Inc. · TSX:BPO.PR.A
Brookfield Office Properties — Brookfield Properties — Merger or Acquisition (February 2010)
24 slides from Brookfield Office Properties's merger presentation, Feb 26, 2010
Slide 1: Proposed Canadian Office REIT
PROPOSED CANADIAN OFFICE REIT March 2010 BPO Properties
Slide 2: Forward Looking Statements
BPO Properties Forward Looking Statements This document contains forward-looking statements and information within the meaning of applicable securities legislation, including statements about BPO Properties’ beliefs and expectations relating to the proposed transaction, benefits that are expected to
Slide 3: REIT Conversion Overview
REIT CONVERSION OVERVIEW BPO Properties
Slide 4: Summary of Conversion
1 Properties Summary of Conversion * BPO Properties (“BPP”) proposes to convert to pre-eminent Canadian Office REIT to be named Brookfield Office Properties Canada (“BOPC”) * — BOPC will acquire Brookfield Properties’ interest in Brookfield Place, widely regarded as the top commercial complex in Can
Slide 5: BPP to BOPC
Properties BPP to BOPC The following table summarizes the pro forma financial impact of the proposed conversion: Canada Brookfield S billions (except per share amounts) BeP Fund Place. Other Dividend __BOPC Property assets $ 33 $ (4) $ of $ (1) S$ - $ aF Property specific debt (1.5) 02 (0.4) E z (17
Slide 6: Brookfield Office Properties Canada
BROOKFIELD OFFICE PROPERTIES CANADA BPO Properties
Slide 7: Overview of BOPC
Overview of BOPC * Invested in 19 properties, comprising 14 million square feet ¢ Prominent, well-located assets in Toronto, Calgary & Vancouver * High-quality office portfolio; financing structures minimize risk * In place: High rents, high occupancy levels and long-term leases * Disciplined manage
Slide 8: Long-term Lease Profile
Long-term Lease Profile BOPC has a 7.5 year average lease term with minimal near-term lease expiries Average Lease Term by Market Toronto Calgary Vancouver
Slide 9: Diversified, High-Credit Quality Tenants
Diversified, High-Credit Quality Tenants Our premier portfolio attracts the best-credit tenants, providing a long-term, high-quality cash flow Tenant Location Sq. Ft. Expiry Credit Rating Suncor Energy Calgary 1,015,000 2028 BBB+ Imperial Oil Calgary 717,000 2016 ‘AAA Talisman Energy Calgary 539,000
Slide 10: Industry-Leading Occupancy Rates
Industry-Leading Occupancy Rates Pro-active leasing strategy has result in portfolio occupancy rate of 99.0% Vacancy Rates 116% 32% 6.6% 7.0% 5.9% 0.2% Toronto Calgary Vancouver Average Hi sorc I Market 10
Slide 11: Low Rollover Profile
Low Rollover Profile Our limited vacancy and minimal rollover exposure ensures continuity of cash-flow as well as low capital expenditures and leasing costs. Only 3.8% of leases expire in 2010. (00's Sq. Fe. cy CURRENT 2010 2011-2012, 201320142015 2016+ PARKING TOTAL"? Toronto* 57 222374 72s BALSs19
Slide 12: Portfolio
PORTFOLIO BPO Properties
Slide 13: Toronto vacancy and rollover exposure
Properties VACANCY / ROLLOVER EXPOSURE* s10 472 378 222 37 — BROOKFIELD STATISTICS Currently 2010 = 2021220122013 Number of operating properties 9 vole Development property 1 00's sq ft. Portfolio sq. ft. (00's) 5,441 Portfolio parking sq. ft. (000’s) 1,607 e Currently Ranfolie vacancy (Git 2002) ba
Slide 14: Toronto properties
1 Properties Toronto Bay Wellington Tower Brookfield Place Retail HSBC Building 1.3 million sq. ft. 743,000 sq. ft. 225,000 sq. ft. 99.0% occupied 97.9% occupied 100% occupied 14
Slide 15: Toronto
Toronto Exchange Tower 105 Adelaide Street Hudson's Bay Centre 1.2 million sq. ft. 232,000 sq. ft 1.1 million sq. ft. 98.6% occupied 99.5% occupied 97.4% occupied 15
Slide 16: Queen's Quay Terminal, Front Street, Bay Adelaide Centre
© Properties Queen’s Quay Terminal 22 Front Street Bay Adelaide Centre — West Tower 144,000 sq. ft. 504,000 sq. ft. 1.6 million sq. ft. 100% occupied 98.5% occupied 74% preleased 16
Slide 17: Calgary
Properties Calgary BROOKFIELD STATISTICS Number of operating properties 8 Portfolio sq. ft. (000's) 5,637 Portfolio parking sq. ft. (000’s) 898 Portfolio vacancy (Q4 2009) 0.2% Market vacancy (Q4 2009) 11.6% Pictured Above: Bankers Hall VACANCY / ROLLOVER EXPOSURE lal Currently 2010 2out 2012 Availa
Slide 18: Calgary properties
BOPC REIT Bankers Hall Fifth Avenue Place Bankers Court Suncor Energy Centre (three buildings) (two buildings) {one building) (two buildings) 2.6 million sq. ft. 1.7 million sq. ft. 324,000 sq, ft. 2.0 million sq. ft. 99.9% occupied 99.5% occupied 100% occupied 100% occupied 18
Slide 19: Vancouver
BOPC REIT Vancouver VACANCY / ROLLOVER EXPOSURE Ea n 62 l J 2010 2011 2012 2013 BROOKFIELD STATISTICS Currently Number of operating properties 1 Avaiiable Portfolio sq. ft. (000's) 588 iit Portfolio parking sq. ft. (00's) 264 Portfoli 4.2009) : Currently pretclia wacaric ms ) ae % Vacant Available 2
Slide 20: Additional Information
ADDITIONAL INFORMATION BPO Properties
Slide 21: Management Arrangements
Properties Management Arrangements * Brookfield Properties will continue to provide asset and property management services for this portfolio to BOPC under new arrangements which have been set at market terms as summarized below — Benefit from continuity of existing management, systems and contro! e
Slide 22: Senior Management Team
Properties Senior Management Team Name Position Phone Ric Clark Chairman (212) 417-7063 Tom Farley President & Chief Executive Officer (416) 369-2706 Jan Sucharda Bryan Davis Ricky Tang Melissa Coley Chief Operating Officer Chief Financial Officer Vice President & Controller Vice President, Investor
Slide 23: Analyst Coverage
Properties Analyst Coverage Company Name Phone Name Phone CIBC World Markets Rossa O'Reilly (416) 594-7296 Alex Avery (416) 594-8179 TD Newcrest Sam Damiani (416) 983-9640 Maurice Choy (416) 983-4406 23
Slide 24: BPO Properties
BPO Properties
Brookfield Properties — Merger or Acquisition (February 2010) on 6ix