Investor Site Tour ― November 2007

Appropriate Victoria Harbour photo

Maurice Cococcia General Manager − Victoria Lend Lease Development

1 Lend Lease

Lend Lease Development ƒ Creators of mixed use projects from fully integrated inner city communities through to high-value, prestige niche sites in key growth corridors throughout ƒ Lend Lease Development manages projects end to end, providing one single accountable point of contact throughout Bovis Lend Lease ƒ Bovis Lend Lease is one of the world’s leading project management and construction companies ƒ Uses industry best practices when working with clients to create high quality, sustainable property assets Lend Lease Investment Management ƒ Lend Lease Investment Management manages property funds globally on behalf of institutional clients; Lend Lease also invests directly in high quality retail properties and co-investments

2 Lend Lease Structure

3 Docklands Precincts

Lewis Land / ING

Victoria Point

BOURKEBOURKE SSTREETTREET Watergate 700 Collins - BoM

COLLINSCOLLINS STREETSTREET

Kuok

4 Major Corporations Currently Committed to Docklands

AXA Myer Ericsson NAB ANZ National Foods Medibank Bendigo Bank VicUrban Channel 7 Australian Bureau of Meteorology

Fairfax Australian Customs

Images are indicative artists impression only − Current as at August 2007 5 Victoria Harbour

ƒ Victoria Harbour is a 30 hectare parcel in the centre of the Docklands precinct surrounded by 2.5kms of water frontage ƒ Considered the ‘jewel in the crown’ of Docklands ƒ In 2001 Lend Lease Development was selected as the developer for Victoria Harbour ƒ 20 year Development Agreement includes approx. 200,000m2 of commercial, 2,200 apartments, 20,000m2 of retail, 178 berth marina and around 6 hectares of parkland and public open space ƒ Lend Lease Development provides a portion of Victoria Harbour back to VicUrban as serviced, undeveloped land for community uses

6 Victoria Harbour, Docklands

Victoria Harbour 1925 7 Victoria Harbour Masterplan Vision 2020

Images are indicative artists impression only − Current as at August 2007

8 Projects Completed as at 2010

Dock 5 Ericsson nab The Mosaic

The Montage The Gauge

Myer 833 Bourke Street

Merchant Street Retail ANZ Images are indicative artists impression only − Current as at August 2007 9 Victoria Harbour – Completed Projects

The Momentum is Building ƒ project completed in 2004 ƒ Dock 5 and 1st stage of the Marina completed December 2006 ƒ Ericsson practical completion achieved October 2007

10 Victoria Harbour – Projects Under Construction

The Momentum is Building ƒ The Mosaic April 2008 ƒ Merchant Street retail including Docklands’ first Safeway supermarket May 2008 ƒ The Gauge May 2008 ƒ 833 Bourke Street mid 2008 ƒ Collins Street extension – Stage 1 2nd half 2008 ƒ ANZ late 2009

11 National Australia Bank

12 Dock 5

13 Ericsson House

14 Water Plaza

15 The Mosaic

16 Merchant Street

Images are indicative artists impression only − Current as at August 2007

17 Merchant Street Stage 1 – Looking North

Images are indicative artists impression only − Current as at August 2007

18 The Gauge − 825 Bourke Street

19 The Montage

20 ANZ − 833 Collins Street

21 Victoria Harbour Public Promenade

Images are indicative artists impression only − Current as at August 2007

22