Global partner + Global platform

Goodman Group

Results for the half year ended 31 December 2012 21 February 2013

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Important notice and disclaimer + This document has been prepared by Goodman Group (Goodman Limited (ABN 69 000 123 071) Goodman Funds Management

Limited (ABN 48 067 796 641; AFSL Number 223621) as the Responsible Entity for Goodman Industrial Trust (ARSN 091 213 839) and Goodman Logistics (HK) Limited (Company Number 1700359; ARBN 155911142 – A Hong Kong company with limited liability)). This document is a presentation of general background information about the Group’s activities current at the date of the presentation. It is information in a summary form and does not purport to be complete. It is to be read in conjunction with Goodman Group’s other announcements released to ASX (available at www.asx.com.au). It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with professional advice, when deciding if an investment is appropriate.

+ This Presentation uses operating profit and operating EPS to present a clear view of the underlying profit from operations. Operating

profit comprises profit attributable to Securityholders, adjusted for property valuations, derivative and foreign currency mark to market and other non-cash or non-recurring items. It is used consistently and without bias year on year for comparability. A reconciliation to statutory profit is provided in summary on page 10 of this Presentation and in detail on page 3 of the Directors’ Report as announced on ASX and available from the Investor Centre at www.goodman.com.

+ This document contains certain "forward-looking statements". The words "anticipate", "believe", "expect", "project", "forecast", "estimate", "likely", "intend", "should", "could", "may", "target", "plan" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Due care and attention has been used in the preparation of forecast information. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Group, that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Neither the Group, nor any other person, gives any representation, warranty, assurance or guarantee that the occurrence of the events expressed or implied in any forward looking-statements in this document will actually occur.

+ This document does not constitute an offer, invitation, solicitation, recommendation, advice or recommendation with respect to the

issue, purchase, or sale of any stapled securities or other financial products in the Group. + This document does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to any

“US person” (as defined in Regulation S under the US Securities Act of 1933, as amended (Securities Act) (US Person)). Securities may not be offered or sold in the United States or to US Persons absent registration or an exemption from registration. The stapled securities of Goodman Group have not been, and will not be, registered under the Securities Act or the securities laws of any state or jurisdiction of the United States.

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Contents + Section 1 Highlights

+ Section 2 Results overview

+ Section 3 Operational performance

+ Section 4 Outlook and summary

+ Appendices - Results analysis

- Investment

- Development

- Management

- Capital management

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Section 1+

Highlights

Goodman Interlink, Hong Kong

Section 1+

Highlights

Erfurt, Zalando, Germany

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+ Focused strategy delivering sustainable growth: – Operating profit1 of $266 million, up 16% on 1H FY12

– Operating EPS1 of 16.2 cents2, up 6% on 1H FY12

– Distribution per security of 9.7 cents, up 8% on 1H FY12

– Total assets under management of $21 billion, up 10% on 1H FY12

+ Global operating platform: – Established operations in key global markets – Provides diversity and access to a broad range of growth opportunities

– Established Brazilian joint venture WTGoodman, with forecast total end value of $1.1billion across four development sites in Sao Paulo and Rio de Janeiro

– Settlement on the consolidation of the Japan management platform to occur in March 2013

+ Strength and focus of Group’s strategy delivering results: – The ‘active’ developments and management businesses contributed 42% of operating EBIT, trending to 50% over

medium term

– Development book can grow to $2.5 billion over the short term, driven by structural changes in the occupier market and entry into the Americas

– Business growth accelerating at a faster pace in China, Continental Europe and Australia driven by strong development demand with over $1.1 billion of new commitments in 1H FY13

– Enquiry levels reflect the improving macro economic sentiment coming out of China and US – Quality asset management team executing on day to day operational activities

1. Operating profit and operating EPS comprises profit attributable to security holders adjusted for property valuations, derivative and foreign currency mark to market and other non-cash or non-recurring

items 2. Calculated based on weighted average diluted securities of 1,636.7 million which includes 5.8 million LTIP securities which have achieved the required performance hurdles and will vest equally in

September 2013 and September 2014

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+ Investment demand from global capital partners remains strong: – Capital partnering approach to new and existing markets: raised $1.8 billion of new third party equity in 1H FY13 – Three of the Group’s largest funds extended for between 5 and 7 years

– Contemporary fund management structure aligns investor interests

– Capital partnering approach to investing Goodman capital

– Open and transparent approach to governance, compliance and operation of funds key to attracting global capital

– Fund initiatives key driver of offshore earnings and increased management earnings

+ Prudent capital management enables the Group to take advantage of long-term growth opportunities in a sustainable manner: – Selective pre-committed and pre-sold approach to development activities, 78% of all developments pre-sold

– Successfully raised $449 million via an institutional placement and security purchase plan

– Debt markets open to prudent operators: procured debt facilities of $1.5 billion with average term of 4.3 years across Group and managed funds

– Gearing reduced to 21%1 , $1.6 billion of liquidity fully covering debt maturities to FY16

+ Well positioned to deliver FY13 operating EPS of 32.3 cents (up 6% on FY12) Results overview

1. Calculated as total interest bearing liabilities over total assets, both net of cash and fair values of cross currency swaps used to hedge foreign liabilities denominated in currencies other than those to which the proceeds are applied equating to $101 million – refer to note 6 of the Financial Statements

Highlights

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Own

+ High occupancy maintained at 96% + Retention rate of 78% and WALE of 4.7 years

+ Like for like rental growth at 2.1% + Leased 1.3 million sqm across the platform equating to $130 million of property income

+ Total assets under management (AUM) of $21.0 billion, external AUM increased to $17.3 billion (up 13% on 1H FY12)

+ Raised $1.8 billion of new third party equity, $1.5 billion net of investor liquidity

+ Continued focus on asset recycling: disposed $300 million of property assets across all regions

+ $3.1 billion1 in undrawn debt and equity providing opportunities for funds to participate in development opportunities from the Group and broader market

Manage

+ WIP at $2.0 billion across 63 projects in 10 countries with a forecast yield on cost of 8.6% + Development commitments of $1.1 billion with 77% pre-committed and 70% pre-sold to funds or third parties

+ Ability to finance and attract capital for development activities is a key point of difference when dealing with customers

+ Americas to contribute to development book in 2H FY13 + Increased development capital allocated to North America, Japan and China in line with growth in development

book to $2.5 billion over the medium-term

Develop

Corporate

+ Grew operating profit by 16% and reduced gearing to 21%2 (33.9% look through) + ICR 4.8x (2.8x look through)

+ Successful implementation of the Hong Kong stapling restructure + Successful restructure of the Goodman PLUS totalling $327 million

Highlights

1. Fund investments are subject to Investment Committee approval 2. Calculated as total interest bearing liabilities over total assets, both net of cash and fair values of cross currency swaps used to hedge foreign liabilities denominated in currencies other than those to

which the proceeds are applied equating to $101 million – refer to Note 6 of the Financial Statements

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Section 2+

Results overview

Stockyards Industrial Estate, Australia

Section 2+

Results Overview

M7 Business Hub, Australia

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1H FY13

Operating profit ($M) 265.7

Statutory accounting profit ($M) 154.6

Operating EPS (cents)1 16.2

Distribution per security (cents) 9.7

As at 31 Dec 2012

NTA ($) 2.64

Gearing (balance sheet)2 (%) 21.1

Available liquidity ($B) 1.6

WACR (look through) (%) 7.9

+ Operating results ahead of initial targets: – Property fundamentals remain sound

– Result driven by growth in development and management activities

– Maintained liquidity and low gearing

– Development commitments and enquiry levels a positive lead indicator into 2014 performance

+ Investment EBIT contributing 58% of earnings, 42% Development and Management:

– 65% Investment and 35% Development and Management on a look through basis

1. Operating profit and operating EPS comprises profit attributable to security holders adjusted for property valuations, derivative and foreign currency mark to market and other non-cash or non-recurring items and calculated based on weighted average securities of 1,636.7 million which includes 5.8 million LTIP securities which have achieved the required performance hurdles and will vest equally in September 2013 and September 2014

2. Calculated as total interest bearing liabilities over total assets, both net of cash and fair values of cross currency swaps used to hedge foreign liabilities denominated in currencies other than those to which the proceeds are applied equating to $101 million – refer to Note 6 of the Financial Statements

Results overview

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Profit and loss Income statement

1. Reflects adjustment to GMG proportionate share of managed funds’ interest and tax 2. Includes Goodman PLUS 3. Includes 5.8 million LTIP securities which have achieved the required performance hurdles and

will vest equally in September 2013 and September 2014 4. Refer Appendix 1 slide 24

1H FY12 $m

1H FY13

$m Investment (look through) 239.0 254.9

Management 36.0 56.0

Development 71.0 83.1

Unallocated operating expenses (17.2) (19.9)

Operating EBITDA (look through) 328.8 374.1 Operating EBIT (look through) 325.7 371.9

Look through interest and tax adjustment1 (67.9) (64.5)

Operating EBIT 257.8 307.4 Net borrowing costs 0.9 (19.9)

Tax expense (4.6) (10.7)

Operating profit (pre minorities) 254.1 276.8 Minorities2 (24.9) (11.1)

Operating profit (post minorities) 229.2 265.7

Weighted average securities (million) 3 1,474.7 1,636.7

Operating EPS (cps) 15.2 16.2

Non operating items4

Property valuations 1.3 (39.4)

Derivative and foreign currency mark to market (1.6) (52.3)

Other non-cash or non-recurring items (28.9) (19.4)

Statutory profit 200.0 154.6

+ Half year operating profit of $265.7 million: – Investments continue to trend up on increasing rents

with ROA of >7%

– Increased scale improving management margins

– Transactional activity levels in the funds a key driver of management income for the half

– Development volumes continue to increase, driving increased EBIT and average ROA over 10%

– Statutory profit of $154.6 million includes property valuations, derivative mark-to-markets and other non-cash or non-recurring items

+ Operating EPS of 16.2 cents per security, up 6% on 1H FY12

+ DPS of 9.7 cents per security, up 8% on 1H FY12

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1. Includes Goodman’s investments in its managed funds and other investments 2. Based on 1,713.2 million securities on issue 3. Gearing calculated as total interest bearing liabilities over total assets, both net of cash and fair

values of cross currency swaps used to hedge foreign liabilities denominated in currencies other than those to which the proceeds are applied equating to $101 million - refer to Note 6 of the Financial Statements

Balance sheet + Strong balance sheet maintained: – $449 million equity raising provides funding for long-term

growth opportunities

– Managed fund equity raisings and asset recycling

+ Fund cornerstones stable over the half but expected to grow with AUM

+ Development holdings increasing on the back of increased activity in Japan, China and North America

+ $1.6 billion of liquidity fully covering maturities to FY16

+ Resulting in the following key metrics:

– Gearing of 21.1%3 (33.9% look through)

– NTA of $2.64 per security2

30 June 2012 $m

31 Dec 2012

$m

Stabilised investment properties 2,259 2,137

Fund cornerstones1 2,937 3,025

Development holdings 1,529 1,582

Intangibles 783 800

Cash 311 378

Other assets 401 491

Total assets 8,220 8,413

Interest bearing liabilities (2,347) (2,153)

Other liabilities (698) (610)

Total liabilities (3,045) (2,763)

Minorities (319) (326)

Net assets (post minorities) 4,856 5,324

Net asset value ($) 3.03 3.11

Net tangible assets ($)2 2.54 2.64

Balance sheet gearing3 (%) 23.9 21.1

Balance sheet

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+ Goodman Group has cash and available lines of credit of $1.6 billion at 31 December 2012:

– $378.1 million cash

– $1,189.7 million available lines

+ Significant covenant headroom maintained

+ Average debt maturity profile of 5.5 years

+ ICR at 4.8 times (2.8 times look through)

+ Debt markets remain open to the Group and managed funds:

– $0.2 billion through debt capital markets with an average expiry of 9.8 years

– $1.3 billion of bank facilities with an average expiry of 3.5 years

Group liquidity position Goodman Group debt maturity profile

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Interlink, Hong Kong Goodman Fiege Brieseleang, Berlin Osaka Nanko, Japan

Section 3+

Operational Performance

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+ Property fundamentals remain stable reflecting quality of the portfolio and customers:

– Maintained occupancy at 96%

– Retention remains high at 78%

– WALE of 4.7 years

– Like for like rental growth of 2.1%

+ Direct investments reducing in line with asset recycling initiatives

+ Cornerstone investments growing in line with growth in AUM

+ Property valuations stable with the exception of UK which declined

Investment ($m) 1H FY12 1H FY13

Direct 84.1 81.1

Cornerstones 154.9 173.8

Look through EBITDA 239.0 254.9

Key metrics1 1H FY12 1H FY13

WACR (%) 7.8 7.9

WALE (yrs) 5.2 4.7

Customer retention (%) 75 78

Occupancy (%) 96 96

1. Key metrics shown in the above table relate to Goodman and managed fund properties

Investment

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+ Development demand continues to be driven by structural changes:

– E-commerce, supply chain efficiencies, building obsolescence, 3PL consolidation

+ Development WIP at $2.0 billion

– Americas to contribute to 2H FY13 WIP

+ Development book growing to $2.5 billion, driven by:

– Entry into the Americas

– Increased volume in China with development commitments expected to reach 800,000sqm in FY13

– Structural changes to customer needs either maintaining or increasing demand in other markets

+ Prudent low risk strategy focused on pre-sold and pre-committed developments

– 70% of new developments for third parties or funds

– 77% of new developments pre-committed

– China and Japan only markets with meaningful speculative led developments

Development ($m) 1H FY12 1H FY13

Revenue 86.0 102.1

EBITDA 71.0 83.1

Key metrics 1H FY12 1H FY13

Work in progress ($B) 2.1 2.0

Work in progress (million sqm) 1.6 1.7

Number of developments 58 63

Development for third parties or funds (%) 85 78

Pre-commitment (%) 87 73

Yield (%) 8.9 8.6

Work in progress (end value) $B

Opening (June 2012) 1.9

Completions (0.9)

Commitments 1.1

FX (0.1)

Closing (December 2012) 2.0

Development

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+ External assets under management (AUM) of $17.3 billion increased 13% from 1H FY12

+ Development completions organically growing AUM

+ Fund initiatives and transactional activities key driver of revenue growth

+ Raised $1.8 billion in new third party equity, $1.5 billion net of investor liquidity

– Contemporary fund structure aligns investor interests

+ Global capital partners and customers attracted to sector specialist and development capabilities:

– Global capital available to partner in new markets

+ Continuing to pursue further long-term debt capital market alternatives in managed funds

– GAIF completed US$185 million unsecured note issue with 7 to 12 year maturities

+ Opportunities for funds to participate in growth opportunities

– $0.9 billion in undrawn debt facilities

– $2.2 billion1 in undrawn equity

Management ($m) 1H FY12 1H FY13

Fund management fees 36.3 51.1

Property service fees2 30.7 35.7

Revenue 67.0 86.8

EBITDA 36.0 56.0

Key metrics 1H FY12 1H FY13

Number of managed vehicles 13 14

External AUM (end of period) ($bn) 15.3 17.3

Management

1. Fund investments are subject to Investment Committee approval 2. Includes gross up of property outgoings of $7.7 million (2012: $8.6 million)

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+ Major new initiatives completed during the half year include:

– Secured US$890 million for GNAP alongside CPPIB

– CPPIB doubled their equity commitment for GCLH to US$800 million

– Establishment of a US$1 billion development partnership in Japan with ADIC

– External equity commitments of US$100 million for GJCF

– $638 million equity raise for GAIF and fund extension to 2019

– GAIF acquired ten assets for $200 million with active asset management opportunities

– KGIT acquired second Australian logistics portfolio totalling $300 million

– GHKLF extended for a further 7 years to 2020

Management – AUM

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Goodman’s six largest managed vehicles

GAIF GTA GELF GHKLF ABPP GMT1

Total assets $5.1bn $2.9bn $2.4bn $1.8bn $1.6bn $1.3bn

GMG co-investment 38.4% 19.9% 28.4% 20.0% 43.1% 18.1%2

GMG co-investment $1.1bn $0.3bn $0.4bn $0.2bn $0.3bn $0.2bn2

Number of properties 114 57 91 14 25 20

Occupancy 97% 97% 98% 99% 91% 96%

Weighted average lease expiry 6.0 yrs 3.5 yrs 5.0 yrs3 2.9 yrs 5.9 yrs3 5.4 yrs

WACR 8.2% 8.1% 7.6% 6.1% 8.5% 8.3%4

Gearing 34.8% 38.6% 37.8% 26.5% 50.6% 35.4%

Weighted average debt expiry 4.5 yrs 2.6 yrs 2.6 yrs 2.4 yrs 3.2 yrs 3.2 yrs

Management platform

1. As at 30 September 2012 (as disclosed to the New Zealand stock exchange on 13 November 2012) 2. As at 31 December 2012 3. WALE of leased portfolio to next break at 31 December 2012 4. GMT’s WACR of 8.3% is post acquisition of the remaining interests in Highbrook Business Park

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Section 3+

Pudong International Airport Logistics Park,

China

Capital Management Initiatives

Section 4+ Outlook and Summary

Pudong International Airport Logistics Park, China

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Outlook and summary

Capital management

+ Low gearing enables the Group to pursue growth opportunities and absorb market shocks

+ Focus remains on a low risk approach of pre-committed development matched to third party capital

+ Maintain gearing around 25% and pursue further diversification of long-term funding sources within managed funds

Strategy

+ Maintain position as a leading global industrial property operator and fund manager

+ Fully operational in the largest and / or growing consumer economies

+ Customer service model and asset management capabilities key to business model

+ Focus is on execution of day to day operating activities

Summary

+ Proven track record, global operating platform, extensive relationships with global investment partners and customers

+ Benefiting from global capital partners and customers driving ‘active’ earnings growth

+ FY13 earnings guidance of 32.3 cents per security up 6% on FY12 driven by growth in the development and management business

Outlook

+ Goodman well positioned to benefit from improving macro sentiment

+ Logistics markets remain stable driving rental returns

+ Active asset management driving incremental growth through higher and better use strategies

+ Demand for core, high quality, stable yielding industrial real estate remains strong from global pension and sovereign funds. Natural owner of Goodman development book

+ Structural rather than cyclical change driving development demand: E-commerce, supply chain efficiencies, 3PL consolidation, building obsolescence

+ Global capital partners attracted to sector specialist and development capabilities

+ Continued capital flows expected into China, Australia, Japan and Europe

+ North America and Brazil to commence developments in 2H FY13

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Westney Industry Park, New Zealand

Kobe, Japan

Pinnacle Corporate Park, Australia

Appendix 1+

Results analysis

Banfield Distribution Centre, Australia

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Total income by business segment for the year ended 31 December 2012 Category Total Investment Management Development Unallocated Non-

operating items

$M $M $M $M $M $M

Gross property income 112.4 111.6 - - - 0.8

Fund management income 51.0 - 51.0 - - -

Property services income 35.7 - 35.7 - - -

Development income 80.5 - - 80.5 - -

Income from disposal of inventories 103.4 - - 103.4 - -

Distributions from investments 1.8 1.8 - - - -

Net gain from fair value adjustments on investment properties 20.8 - - - - 20.8

Net gain on disposal of investment properties 8.3 - - 7.9 - 0.4

Net gain on disposal of controlled entities 24.2 - - 24.2 - -

Share of net results of equity accounted investments1 72.9 107.5 0.1 0.9 - (35.6)

Net loss on disposal of equity investments (3.1) - - - - (3.1)

Total income 507.9 220.9 86.8 216.9 - (16.7) Development and property expenses and inventory cost of sales (145.3) (30.5) - (114.8) - -

Operating expenses (88.3) - (30.8) (19.0) (22.1) (16.4)

Impairment losses (31.3) - - - - (31.3)

EBIT 243.0 190.4 56.0 83.1 (22.1) (64.4)

Look through NPI adjustment (Goodman share of interest and tax within its fund investments)

64.5 64.5

Look through operating EBIT 307.5 254.9 56.0 83.1 (22.1) (64.4)

1. Includes share of associate and JVE property valuation losses of $(29.5) million, share of associate and JVE unrealised derivative losses of $(5.8) million and other non-cash, non-operating items within associates of $(0.3) million

Profit and loss F

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Category Total Investment Management Development Unallocated Non-operating items

$M $M $M $M $M $M

EBIT – per statutory accounts 243.0 190.4 56.0 83.1 (22.1) (64.4)

Net gain from fair value adjustments on investment properties (20.8) - - - - (20.8)

Net gain on disposal of investment properties (0.4) - - - - (0.4)

Share of net loss from fair value adjustments on investment properties and interest rate swaps in associates and JVEs 35.6 - - - - 35.6

Impairment losses 31.3 - - - - 31.3

Straight-lining of rent and amortisation of lease incentives (0.8) - - - - (0.8)

Share based payment expense 13.9 - - - - 13.9

Other non-cash, non-operating items 5.6 - - - - 5.6

Operating EBIT 307.4 190.4 56.0 83.1 (22.1) -

Net finance expense (statutory) (66.4)

Add: fair value adjustments on derivative financial instruments 80.7

Add: foreign exchange loss (34.2)

Net finance expense (operating) (19.9)

Income tax expense (10.9)

Deferred tax expense 0.2

Minorities (11.1)

Operating profit available for distribution 265.7 Net cash provided by operating activities1 226.3

1. Difference between operating profit pre-minorities and cash provided by operating activities of $(50.5) million relates to: - $(53.6) million of prepaid interest and capitalised interest - $3.1 million of working capital movements

Profit and loss (cont)

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Non-operating Items in statutory profit & loss Notes

$M

Half Year ended 31 Dec 2012

$M

Property valuations

Net gain from fair value adjustments on investment properties 1 20.8

Share of net gain from fair value adjustments on investment properties in associates and joint ventures 1 (29.5)

Deferred tax on fair value adjustment on investment properties 1 (0.2)

Subtotal (8.9)

Impairment losses

Impairment – inventories 1 (14.7)

Impairment – receivables 1 (11.9)

Impairment – equity accounted investments 1 (2.8)

Impairment – other financial assets 1,2 (1.9)

Subtotal (31.3)

Derivative and foreign currency mark to market

Fair value adjustments on derivative instruments – GMG (80.7)

Unrealised foreign exchange gain 34.2

Fair value adjustments on derivative instruments – associates and joint ventures (5.8)

Subtotal (52.3)

Other non-cash or non-recurring items

Share based payment expense (13.9)

Capital profits not distributed 0.4

Transaction related costs for strategic initiatives (5.9)

Straight-lining of rent and amortisation of lease incentives 0.8

Subtotal (18.6)

TOTAL (111.1)

Reconciliation non-operating items

1. Property valuation losses totalling ($39.4) million (refer to slide 10). Of the ($1.9) million of Impairments of other financial assets, ($1.1) million relates to GEBPF property valuations, the remaining ($0.8) million relates to non-property related impairments (see note 2 below) and included in other non cash items

2. Non-property related impairments totalling ($0.8) million (refer to slide 10). Of the ($1.9) million of Impairments of other financial assets, ($0.8) million relates to non property related impairments (see note 1 above) and included in other non cash items

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As at 31 December 2012 Direct Assets

$M

Investments $M

Developments $M

Other $M

Total $M

Cash - - - 378.1 378.1

Receivables - 94.7 163.6 453.2 711.5

Inventories - - 837.7 - 837.7

Investment properties 2,136.9 - 368.0 - 2,504.9

Investments accounted for using equity method

- 2,917.3 168.7 - 3,086.0

Other financial assets - 13.1 - - 13.1

Intangibles - - - 800.1 800.1

Other assets - - 43.7 37.6 81.3

Total assets 2,136.9 3,025.1 1,581.7 1,669.0 8,412.7

Interest bearing liabilities 2,153.1 2,153.1

Other liabilities 610.1 610.1

Total liabilities 2,763.2 2,763.2

Net assets/(liabilities) 5,649.5

Gearing1 21.1%

NTA (per security)2 $2.64

Asia Pacific 1,839.5 2,285.5 704.0 810.8 5,639.8

North America - - 82.8 3.9 86.7

Europe 297.4 739.6 794.9 854.3 2,686.2

1. Calculated as total interest bearing liabilities over total assets, both net of cash and fair values of cross currency swaps used to hedge foreign liabilities denominated in currencies other than those to which the proceeds are applied equating to $101 million – refer to Note 6 of the Financial Statements

2. Calculated based on 1,713.2 million number securities on issue

Financial position

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Property valuations

31 December 2012 property valuations (look through)

+ Overall property valuations relatively stable with the exception of UK

+ WACR at 7.9%

+ Strong investor demand continues for prime investment assets

+ Negative sentiment from valuers on assets with shorter lease terms

Book value

(GMG exposure) $M

Movement since

June 2012 $M

WACR

%

WACR movement

since June 2012 %

Australia 4,885 21.3 8.1 -

New Zealand 301 - 8.3¹ (0.2)

Hong Kong 318 4.1 6.1 (0.1)

China 266 3.1 9.2 0.2

Japan 254 1.5 5.5 -

UK 1,838 (55.4) 8.4 0.3

Continental Europe 1,207 (14.0) 7.7 -

North America 77 - n.a -

Total / Average 9,146 (39.4) 7.9 (0.1)

1. New Zealand WACR of 8.3% is post acquisition of the remaining interests in Highbrook Business Park

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Appendix 2+

Investment

Goodman Interlink, Hong Kong

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Leasing Across the Group and Funds platform:

+ ~1.3 million sqm leased during the half year

+ Positive lease reversions of 2.7% on new leasing deals, with like for like NPI growing at 2.1%

+ Occupancy maintained at 96%

Division Leasing area (sqm) Net annual rent (A$M) Average lease term (years)

Occupancy at 31 December 2012 (%)

Australia – Direct 145,698 18.3 3.7 96

Australia – GAIF 266,370 35.2 4.4 97

Australia – GTA 73,212 9.7 4.5 97

New Zealand – GMT1 88,000 8.4 4.0 96

Hong Kong – GHKLF 153,688 21.8 5.4 99

UK – ABPP 2,397 0.7 7.1 91

Europe – GELF 486,778 28.5 3.0 98

Other 92,887 7.5 3.5 94

Total 1,309,030 130.1 4.1 96

1. As at 30 September 2012 (as disclosed to the New Zealand stock exchange on 13 November 2012)

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Customers

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Geographic exposure Top 20 sub regions (by AUM)

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Portfolio snapshot

+ 28 properties with a total value of $1.8 billion located across key Australian markets

+ Leasing deals remain strong across the portfolio: – 145,698 sqm ($18.3 million net annual rental) of

existing space leased – customer retention 85% (rolling 12 months) – average portfolio valuation cap rate of 7.9%

+ 96% occupancy and a weighted average lease expiry of 3.5 years

Key metrics

Top 10 customers make up 28% of portfolio income WALE of 3.5 years (by net income)

Total assets A$1.8 billion

Customers 235

Number of properties 28

Occupancy 96%

Weighted average cap rate 7.9%

Direct portfolio detail – Australia

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Portfolio snapshot

+ Occupancy at 92% + Strong WALE of 5.3 years + Active enquiry on remaining vacancy + Cap rates stable with current WACR of 8.0%

Total assets A$0.3 billion

Customers 27

Number of properties 12

Occupancy 92%

Weighted average cap rate 8.0%

Key metrics

Top 10 customers make up 80% of portfolio income WALE of 5.3 years (by net income)

Direct portfolio detail – UK and CE

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Bungarribee Industrial Estate, Australia

Rheinberg Logistics Centre , Germany

Appendix 3+

Development

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Developments 1HFY13 Developments Completions Commitments Work in progress

Value ($M) 920 1,147 2,005

Area (m sqm) 0.9 1.0 1.7

Yield (%) 8.6 8.6 8.6

Pre-committed (%) 92 77 73

Weighted Average Lease Term (years) 5.4 7.9 10.3

Development for Third Parties or Funds (%) 90 70 78

Australia / New Zealand (%) 35 55 48

Asia (%) 14 15 24

Europe (%) 51 30 28

Work in progress by region

On balance sheet end value

$M

Third party funds end value

$M

Total end value

$M

Third party funds % of total

Pre committed % of total

Australia / New Zealand 56 897 953 94 85

Asia 93 397 490 81 20

Europe 285 277 562 49 99

Total 434 1,571 2,005 78 73

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+ The Group’s development future cash commitments

Developments (cont)

1. Pre-sold projects are reimbursed by instalments throughout the project or at practical completion of the project

Commitments as at 31 December 2012 $M

Gross GMG cost to complete Less pre-sold1 cost to complete

344 (53)

Net GMG cost to complete 291

Net GMG managed funds cost to complete 926

+ Increased development pipeline in excess of $11 billion with entry into new markets – Development pipeline restocked (Americas, China, Japan) – Forecast GLA over 7 million sqm – Development pipeline allocated as Asia Pacific 43%, Europe 45%

and Americas 12%

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Senec Logistics Centre, Slovakia BirminghamBusiness Park, U.K

Appendix 4+

Management

Interlink Industrial Estate, Australia

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Global platform

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Goodman Australia Industrial Fund Key events + Successfully completed $638 million equity raising in

December and fund extension to 2019

+ Completed US$185 million unsecured note issue with 7-12 year maturities

+ Acquired ten assets for $200 million with active asset management opportunities

+ Sold $111 million portfolio to KGIT

+ Committed to 123,955 million sqm of developments with an end value of $236 million

+ Leased 266,000 sqm in the half, representing $35.2 million of net property income

+ Amended governance structure to bring into line with other Goodman funds – Independent Board comprising three independent

directors and two executive directors – Securityholder Committee comprising five of the largest

investors by investment size, one minority investor representative and the three independent directors

+ Continued interest from investors in various stages of due diligence

1. As at 31 December 2012 2. Calculated as IBL/total assets 3. Including developments 4. Includes post December 2012 renegotiation of $225 million of bank debt facilities

Key metrics1

Total assets A$5.1 billion

Interest bearing liabilities A$1.8 billion

Gearing2 34.8%

Customers 418

Number of properties 114

Occupancy 97%

Weighted average lease expiry³ 6.0 years

Weighted average cap rate 8.2%

GMG co-investment (%) 38.4%

GMG co-investment ($b) A$1.1 billion

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Goodman Trust Australia

1. As at 31 December 2012 2. Calculated as net debt/total assets

Key metrics1

Total assets A$2.9 billion

Interest bearing liabilities A$1.1 billion

Gearing2 38.6%

Customers 243

Number of properties 57

Occupancy 97%

Weighted average lease expiry 3.5 years

Weighted average cap rate 8.1%

GMG co-investment (%) 19.9%

GMG co-investment ($b) A$0.3 billion

Key events

+ Acquired 112 Talavera Road, North Ryde with subsequent development pre-commitment to Fujitsu for 11,600sqm office building

+ Work in progress of 202,638 sqm with end value of $403 million

+ Committed to 174,049 sqm of developments with an end value of $336 million

+ Leased 81,000 sqm in the half, representing $10.0 million of net property income

+ Pursuing a number of higher and better use alternatives in Sydney and Melbourne

Debt maturity profile1

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Goodman European Logistics Fund Key events + Significant weighting to core Western European

countries >80%4

+ Acquisitions totalling $106 million completed from the Group in the half year

+ Leased 487,000 sqm in the half representing $28.5 million of net property income

+ Focus on diversify debt funding on the back of S&P and Moody’s ratings

+ Continued investor demand for investment in European logistics indicating support for future capital raisings

Key metrics1

1. As at 31 December 2012 2. Calculated as net debt/total assets less cash 3. WALE of leased portfolio to next break 4. Core Western European countries comprise Belgium, France, Germany and The Netherlands

Total assets A$2.4 billion

Interest bearing liabilities A$0.9 billion

Gearing2 37.8%

Customers 92

Number of properties 91

Occupancy 98%

Weighted average lease expiry3 5.0 years

Weighted average cap rate 7.6%

GMG co-investment (%) 28.4%

GMG co-investment ($b) A$0.4 billion

Debt maturity profile1

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Goodman Hong Kong Logistics Fund Key events

+ Seven year fund extension approved unanimously in December. Next liquidity review in 2020

+ Sold two assets for $51 million on a higher and better use alternative

+ Unanimous support form investors to increase weighting to Hong Kong Logistics

– Exclusive due diligence being undertaken on one asset

– Continue to evaluate land opportunities

+ Leased 153,000sqm in the half representing $21.8 million of net property income

+ Portfolio occupancy at 99% highlighting demand for logistics space

+ Governance structure unchanged and represents best practice

1. As at 31 December 2012 2. Calculated as (total external debt less cash excluding rental deposits) / (total assets less cash excluding rental deposits less JV loan

receivable)

Key metrics1

Total assets A$1.8 billion

Interest bearing liabilities A$0.5 billion

Gearing2 26.5%

Customers 194

Number of properties 14

Occupancy 99.4%

Weighted average lease expiry 2.9 years

Weighted average cap rate 6.1%

GMG co-investment (%) 20%

GMG co-investment ($b) A$0.2 billion

Debt maturity profile1

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Arlington Business Parks Partnership Key events + Arlington Business Parks Partnership (ABPP) is a

core plus unlisted fund which invests, develops and manages business parks located in key UK regional and urban fringe office markets

+ Portfolio comprising 22 business parks and 3 stand alone assets valued at $1.6 billion

+ Substantial development pipeline – 299 acres of consented land providing over 6.2 million sq ft of future development

+ Key focus on asset rotation and re-investment into pre-let and turnkey developments on existing land bank

Key metrics1

1. As at 31 December 2012 2. Calculated as net debt/total assets less cash 3. WALE of leased portfolio to next break at 31 December 2012

Total assets A$1.6 billion

Interest bearing liabilities A$0.8 billion

Gearing2 50.6%

Customers 155

Number of active business parks 25

Occupancy 91%

Weighted average lease expiry3 5.9 years

Weighted average cap rate 8.5%

GMG co-investment (%) 43.1%

GMG co-investment ($b) A$0.3 billion

Debt maturity profile1

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Goodman Property Trust Key events + A constituent in the leading NZX15 Index

+ Completed unit purchase plan and private placement equity raisings for NZ$90 million

+ Completed the acquisition for the remaining interests in Highbrook Business Park

+ Work in progress of 60,144sqm with end value of $103 million

+ Leased 88,000sqm in the half representing $8.4 million of net property income

Key metrics1

1. As at 30 September 2012 (as disclosed to the New Zealand Stock Exchange on 13 November 2012) 2. Calculated as net debt/property assets (includes GMT’s proportionate share of jointly controlled entities and total borrowings is net of cash) 3. Weighted average cap rate of 8.3% is post the acquisition of the remaining interests in Highbrook Business Park 4. As at 31 December 2012

Total assets A$1.3 billion

Interest bearing liabilities A$0.5 billion

Gearing2 35.4%

Customers 243

Number of properties 20

Occupancy 96%

Weighted average lease expiry 5.4 years

Weighted average cap rate 8.3%³

GMG co-investment (%)4 18.1%

GMG co-investment ($b)4 A$0.2 billion

Debt maturity profile1

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Appendix 5+

Capital management

Torun Logistics Centre, Poland

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1. Net liabilities = total liabilities less cash and excludes trade payables, mark to market derivatives, deferred tax liabilities and provisions for Securityholder distributions

Covenants Test Covenant Result Headroom

Gearing ratio Net liabilities1 as a percentage of net tangible assets is not more than 55.0% 55.0% 27.9% 27.1%

Interest cover ratio EBITDA to interest expense at least 2.0x 2.0x 4.8x 2.8x

Priority debt Secured debt as a percentage of total tangible assets is not more than 12.5% 12.5% 0% 12.5%

Unencumbered real property assets

Net unsecured debt (total unsecured debt less unrestricted cash) to be not more than 100% of the amount of unencumbered real property assets (all unencumbered direct assets including stabilised assets, development WIP and land bank)

100% 57.3% 42.7%

Unencumbered assets Unsecured debt as a percentage of unencumbered assets is not more than 66.6% 66.6% 28.5% 38.1%

Group financial covenants

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Currency mix

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Financial risk management in line with Group Board policy + Interest risk management:

– 92% hedged over next 12 months – Weighted average hedge maturity of 6.0 years – Weighted average hedge rate of 4.84%1 vs spot 1.23%2 – Current “all in” net WACD 3.28%3

+ Foreign currency risk management:

– 86% hedged as at 31 December 2012, of which 68% is debt and liabilities and 32% is derivatives

– Weighted average maturity of derivatives is 4.4 years

1. Includes the 10 year EMTN £250 million at 9.75% fixed rate 2. Spot refers to 5 year swap market rate as at 15 February 2013 3. Includes the AUD receiver leg from the cross currency swaps

Financial risk management

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Interest rate

1. Includes the 10 year EMTN £250 million at 9.75% fixed rate 2. Spot refers 5 year swap market rate as at 15 February 2013 3. Includes the 10 year EMTN £250 million at 9.75% fixed rate 4. Includes the AUD receiver leg from the cross currency swaps

+ Interest rates are hedged to 92% over next 12 months

+ Weighted average hedge rate of

4.84%1 vs spot 1.23%2 - NZD – (hedge 4.39%, spot 3.57%) - JPY – (hedge 1.19%, spot 0.29%) - HKD – (hedge 1.37%, spot 0.89%) - GBP – (hedge 8.04%3, spot 1.20%) - Euro – (hedge 3.05%, spot 1.08%) - USD – (hedge 6.05%, spot 1.02%)

+ Weighted average maturity of 6.0 years

+ “All in” net WACD of 3.28%4

Financial risk management (cont)

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Interest rate hedging profile

Euro payable GBP payable HKD payable NZD payable JPY payable USD payable

AUD receivable

As at Dec

€M

Fixed rate

%

£M

Fixed1

rate %

HK$M

Fixed rate

%

NZ$M

Fixed rate

%

¥M

Fixed rate %

US$M

Fixed rate

%

A$M

Fixed rate %

2013 (610.1) 2.99 (311.7) 9.35 (1,250.0) 1.18 (200.0) 4.59 (15,200.0) 0.65 (395.0) 6.44 380.0 3.29

2014 (697.1) 2.56 (380.9) 8.52 (1,111.2) 1.68 (186.0) 4.50 (13,615.1) 0.70 (395.0) 6.44 380.0 3.29

2015 (451.0) 2.35 (502.5) 7.26 (1,093.2) 1.28 (120.0) 3.99 (7,757.5) 0.98 (395.0) 6.44 380.0 3.29

2016 (200.0) 4.50 (438.4) 7.53 (967.2) 1.34 (80.6) 4.26 (3,848.9) 1.50 (395.0) 6.44 380.0 3.29

2017 (158.1) 4.50 (382.0) 7.77 - - - - (1,200.0) 3.32 (395.0) 6.44 380.0 3.29

2018 (118.4)

4.50 (160.5) 8.81 - - - - (1,200.0) 3.32 (395.0) 6.44 196.8 3.30

2019 - - - - - - - - (1,200.0) 3.32 (395.0) 6.44 - -

2020 - - - - - - - - (1,200.0) 3.32 (395.0) 6.33 - -

2021 - - - - - - - - (1,200.0) 3.32 (395.0) 5.20 - -

2022 - - - - - - - - (1,200.0) 3.32 (395.0) 3.83 - -

1. Includes the 10 year EMTN £250 million at 9.75% fixed rate

Financial risk management (cont)

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Currency hedging profile

Maturing in year ending June

Hedge rate

Amount payable

HK$M

Hedge rate

Amount payable

NZ$M

2013 4.9031 (50.0) 1.1932 (5.0)

Currency

Maturity

Weighted average exchange rate

Amount receivable1

Amount payable1

NZ$M 2017 / 2018 1.2795 A$172.0M NZ$220.0M

HK$M 2015 / 2016 / 2018 7.9202 A$209.2M HK$1,650.0M

¥M 2016 / 2017 85.9348 A$180.4M ¥15,500.0M

£ 2023 131.5400 ¥11,300.0M £85.9M

£ 2017 0.6427 A$77.8M £50.0M

€M 2016 / 2017 / 2018 0.7700 A$520.6M €400.0M

US$M 2020/2021/2022 0.6247 US$355.0M £221.8M

US$M 2020/2021/2022 0.7217 US$575.0M €415.0M

Foreign currency denominated balance sheet hedging maturity profile

1. Floating rates apply for the payable and receivable legs for the cross currency swaps except for the USDGBP, USDEUR and GBPJPY cross currency where the receivable for US$660 million is fixed at 6.375%, ¥11,300 million fixed at 3.32% and US$270M fixed at 6.0%.

Financial risk management (cont)

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+ Statement of Financial Position – exchange rates as at 31 December 2012

+ Statement of Financial Performance – average exchange rates for the 6 months to 31 December 2012

– AUDGBP – 0.6428 (31 December 2011 : 0.6537)

– AUDEUR – 0.7868 (31 December 2011 : 0.7813)

– AUDHKD – 8.0474 (31 December 2011 : 7.9675)

– AUDSGD – 1.2684 (31 December 2011 : 1.3297)

– AUDNZD – 1.2608 (31 December 2011 : 1.3132)

– AUDUSD – 1.0384 (31 December 2011 : 1.0101)

– AUDJPY – 89.4600 (31 December 2011 : 78.5500)

– AUDCNY – 6.4740 (31 December 2011 : 6.4617)

– AUDGBP – 0.6523 (31 December 2011 : 0.6478)

– AUDEUR – 0.8159 (31 December 2011 : 0.7466)

– AUDHKD – 8.0543 (31 December 2011 : 8.0320)

– AUDSGD – 1.2827 (31 December 2011 : 1.2947)

– AUDNZD – 1.2731 (31 December 2011 : 1.2822)

– AUDUSD – 1.0388 (31 December 2011 : 1.0307)

– AUDJPY – 82.9750 (31 December 2011 : 79.9609)

– AUDCNY – 6.5459 (31 December 2011 : 6.5904)

Exchange rates

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Q & A

Citadel Logistics , Wolverhampton, UK

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thank+you

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