Establishment of SCA Property Group

Summary of SCA Property Group • Portfolio Financial • • 69 shopping centres valued at $1.4 billion (1) - Completed Portfolio: 56 assets valued at $1.1 billion Development Portfolio: 13 assets valued at $0.3 billion All assets independently valued Average property age 2.1 years (2) • WALE 15.8 years (3) Portfolio Capitalisation Rate 8.1% (4) • Occupancy 95% (3) Woolworths liquor 9 • Forecast FY14 Distributable Earnings yield 7.9% - 9.4% (5) Forecast FY14 distribution yield 6.9% - 8.3% (5) 27% targeted Gearing at Allotment Date, increasing to 34% assuming all properties in the Development Portfolio were completed or acquired as at the Allotment Date Cardiff, NSW Woolworths Structure Stapled unit structure Internal management Bright, VIC Weighted average property age by value as at 1 December 2012 across the Completed Portfolio, assuming completion date or redevelopment date where assets have had a major redevelopment undertaken As at 1 December 2012 across the Completed Portfolio by GLA (1) Assuming all transfer of title for Australian properties occurs by the Allotment Date (3) (4) As at 1 December 2012 across the Completed Portfolio and the Development Portfolio by value based on independent valuations (5) Based on an Offer Price Range of $1.26 - 1.50 per Stapled Unit (inclusive) and NTA of $1.58 at Allotment

View entire presentation