Investor Presentaiton

MIRVAC LIVING SECTORS INVESTOR DAY Compelling investment proposition LAND LEASE COMMUNITIES ARE CAPITAL LIGHT WITH STRONG, STABLE CASH GENERATION IN PERPETUITY GROWTH IN 55+ POPULATION AND LOW PENETRATION RATES Characteristics Affordable housing solution Structural tailwinds: ageing population Under penetrated asset class Stable recurring cash flows Annual CPI+ indexation Government supported rental stream No incentives/Low capex High occupancy/ Low downtime/ minimal arrears Concessional land tax Attractive development returns Low correlation with other asset classes Highly capital efficient model Growth in 55+ population FUTURE POPULATION GROWTH Over the next 40 years, the over 55 year old cohort will almost double¹ CURRENT ESTIMATED MARKET PENETRATION LAND LEASE PENETRATION RATE GROWTH CURRENT POPULATION 7.5 million people² Driven by growing awareness, improved quality, affordability challenges & low superannuation balances (asset rich / cash poor) 1. Source: ABS Historical Population, Estimated Resident Population, Federal Treasury 2023 Intergenerational Report. 2. Source: 2021 Census data ABS. Potential future growth in land lease penetration rate from ~2% today mirvac FUTURE POTENTIAL MARKET OPPORTUNITY 10 OCTOBER 2023 53

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