Investor Presentaiton

HIGHER ECONOMIC GROWTH, INTEREST RATES AND YIELD SUPPORTED CAPITAL FLOW TO AUSTRALIA Global Commercial Office Yields Regional Averages - 7.0% 6.0% 5.0% 4.0% ப 3.0% 2.0% 1.0% 0.0% Asia US Aust ■ Yield Source: CBRE Research CBRE ☐ Spread to bond Europe 12 • . Higher growth/rates and yield structure Lower risk: AAA-rated sovereign Banks/Financial system lower risk; capitalised and credit risk managed CBRE | AUSTRALIAN COMMERCIAL PROPERTY

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