Investor Presentaiton
MACQUARIE AUSTRALIA CONFERENCE
Reimagine Urban Life
✓ Continue to increase resilience of Investment portfolio
mirvac
Current position
Active management has driven strong uplift in portfolio quality
> ~$4.2bn of assets disposed over last 10 years
> ~$6bn of assets created over last 8 years (13 new assets across BTR, Industrial and Office)
> 97.5% occupied Investment portfolio
> Established new BTR asset class (6% of portfolio)
> Industrial 100% Sydney exposed
> 100% urban retail
> Prime, modern, sustainable, low capex Office portfolio²
Portfolio quality and development has driven excess returns over all time periods
All property returns: Mirvac portfolio versus market benchmark
based on compound average annual returns
12.0%
8.0
7.8%
7.5%
6.1%
4.0
5.5%
9.2%
6.1%
10.1%
10.0%
7.9%
7.8%
FUTURE FOCUS
Continue to lift exposure to high-quality,
modern, capex light assets
Focus on cash flow resilient sectors Current Investment portfolio³
with positive structural tailwinds
Increased exposure to
living sectors including BTR
and Land Lease communities
Lift industrial exposure
Moderate office exposure with
focus on modern prime assets
Maintain urban retail focus
Office 60%
Retail 22%
Industrial 12%
Build to Rent 6%
0
1 YRS
3 YRS
5 YRS
Source: RIA commercial property market return indicator as at December 2022
1. By portfolio valuations as at 31 December 2022.
10 YRS
12 YRS
Mirvac portfolio
Benchmark
2. 98% of Office portfolio Prime (46% premium), 10 year average age, 84% built or refurbished by Mirvac, 5.3 Star average NABERS rating, 0.24% maintenance capex
(4.5 year pa average) as at 31 December 2022.
3. By total property portfolio valuations, which includes IPUC, assets held for sale/on market for sale, and properties being held for development as at 31 December 2022.
4. 100% share end value of developments completed
N2
24
31
Heritage Lanes, 80 Ann Street, Brisbane
MAY 2023 06
23
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