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Direct Shopping Centre Portfolio Contents CENTRO RETAIL AUSTRALIA AUGUST 2012 DIRECT SHOPPING CENTRE PORTFOLIO CONTENTS SHOPPING CENTRE PORTFOLIO MAP 1 PORTFOLIO OVERVIEW 2 OPERATIONAL PERFORMANCE 3 SHOPPING CENTRE PORTFOLIO 4 ACT / NSW 6 QLD 28 NT / SA 46 VIC 56 WA 80 Disclaimer This document includes information regarding the past performance of the Centro Retail Australia property portfolio. Past performance of the property portfolio should not be relied upon as being indicative of future performance. Any forward-looking statements included in this document are based on information available to Centro Retail Australia as at the date of this document and are not representations, assurances, predictions or guarantees of future results, performance or achievements expressed or implied by the forward-looking statements. This document is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, fi nancial situation or needs of any particular investor. The fi nancial report for the fi nancial year ended 30 June 2012, lodged with the ASX on 28 August 2012, has been audited by Ernst & Young. The IFRS fi nancial information contained within this document has been derived from the audited fi nancial report. Ernst & Young has not issued an audit opinion on this document. Centro Retail Australia | Direct Shopping Centre Portfolio 2012 01 SHOPPING CENTRE PORTFOLIO MAP AS AT 30 JUNE 2012 AUSTRALIAN SHOPPING CENTRES DARWIN BRISBANE PERTH ADELAIDE SYDNEY MELBOURNE Corporate Office HOBART AUSTRALIAN NEW SOUTH QUEENSLAND NORTHERN SOUTH VICTORIA WESTERN CAPITAL TERRITORY WALES TERRITORY AUSTRALIA AUSTRALIA Regional Off ice: Regional Off ice: Regional Off ice: Regional Off ice: Regional Off ice: Regional Off ice: Sydney Brisbane Adelaide Adelaide Melbourne Perth 1 Shopping Centre 9 Shopping Centres 8 Shopping Centres 1 Shopping Centre 3 Shopping Centres 11 Shopping Centres 8 Shopping Centres Centro Retail Australia | Direct Shopping Centre Portfolio 2012 02 PORTFOLIO OVERVIEW DIRECT SHOPPING CENTRE PORTFOLIO OVERVIEW STATE ANALYSIS AS AT 30 JUNE 2012 CRF AS AT 30 NUMBER OF GLA GROSS RENT NOI (FY12) VALUE Centres 41 JUNE 2012 SHOPPING (FY12) ($M) ($M) ($M) CENTRES Annual Retail Sales (gross) $m $6,285.6 Western 8 202,064 79.5 59.8 886.1 No of Tenancies 3,665 Australia GLA (sqm) 1,099,156 Victoria 11 274,034 105.1 75.2 1,013.6 Portfolio Value $3.8 billion New South 10 350,967 112.9 82.9 1,113.0 Capitalisation Rate (weighted average) 7.39% Wales / ACT Queensland 8 146,569 53.7 36.9 486.9 SA / NT 4 125,522 35.1 25.8 304.7 ASSET TYPE ANALYSIS Total 41 1,099,156 386.3 280.6 3,804.3 TYPE NUMBER OF GLA GROSS RENT NOI (FY12) VALUE SHOPPING (FY12) ($M) ($M) ($M) CENTRES Regional 6 421,185 114.0 85.2 1,300.6 Sub Regional 26 599,366 246.8 177.4 2,274.1 Convenience 9 78,605 25.5 18.0 229.6 Total 41 1,099,156 386.3 280.6 3,804.3 Centro Retail Australia | Direct Shopping Centre Portfolio 2012 03 OPERATIONAL PERFORMANCE KEY OPERATIONAL METRICS SALES CATEGORY ANALYSIS – YEAR ENDED 30 JUNE 2012 AS AT 30 JUNE 2012 CRF CATEGORY MAT $M MAT CHANGE1 COMPOSITION Comparable NOI growth – Stabilised1 3.5% Supermarkets 2,315.7 1.4% 37% Occupancy Rate 99.5% DDS 916.3 -1.0% 15% Annual Retail Sales Growth (SCCA)2 0.9% Department Stores 186.9 -4.8% 3% Specialty Occupancy Cost3 14.6% Specialties 2394.4 0.0% 37% Specialty Rental Renewal Growth 4.0% Mini Majors 472.3 9.4% 8% 1 Based upon CRF ownership Total 6,285.6 0.9% 100.0% 2 Based upon 12 months of sales to June 2012 against prior corresponding period 1 Per SCCA Standards 3 Includes marketing levy and based on GST inclusive turnover TOP 10 RETAILERS BY INCOME – 30 JUNE 2012 LEASE EXPIRY PROFILE Specialties and other retailers Majors NAME INCOME % INCOME Woolworths 24.5 6.3% 23% FY13 Coles 20.9 5.4% 5% Kmart 18.7 4.8% 15% Target 12.8 3.4% FY14 6% Big W 12.4 3.2% 14% Myer 6.2 1.6% FY15 10% Terry White 4.7 1.2% 17% The Reject Shop 4.3 1.1% FY16 Priceline 4.2 1.1% 9% Best & Less 3.3 0.9% 31% FY17+ Total 112.0 29.0% 70% BLENDED LEASING SPREAD SUMMARY NUMBER GROSS RENT ACHIEVED ($M) VARIANCE % Vacancies 126 12.5 -2.2% Renewals 479 51.9 4.0% Total 605 64.4 2.8% Centro Retail Australia | Direct Shopping Centre Portfolio 2012 04 SHOPPING CENTRE PORTFOLIO Shopping Centre State Centre Type CRF Ownership CRF Share of Valuation ($m) Cap Rate GLA sqm Galleria WA Regional 50% 333.0 5.64% 73,224 Bankstown NSW Regional 50% 285.0 6.75% 85,749 The Glen VIC Regional 50% 207.4 6.00% 59,275 Roselands NSW Regional 50% 168.1 7.00% 61,481 Tuggeranong Hyperdome ACT Regional 50% 157.1 7.25% 75,896 Colonnades SA Regional 50% 150.0 7.25% 65,560 Mandurah WA Sub Regional 100% 248.5 7.25% 39,747 Toombul QLD Sub Regional 100% 212.7 8.00% 43,081 Karingal VIC Sub Regional 100% 182.0 7.25% 41,604 Warriewood NSW Sub Regional 100% 138.0 7.25% 22,141 Warwick WA Sub Regional 100% 128.0 7.75% 30,191 Cranbourne VIC Sub Regional 100% 124.0 7.50% 33,884 Nepean NSW Sub Regional 100% 107.5 7.50% 20,856 Box Hill South VIC Sub Regional 100% 105.0 8.00% 23,425 Arndale SA Sub Regional 100% 100.5 8.25% 40,150 Mildura VIC Sub Regional 100% 88.0 8.00% 20,172 Victoria Gardens Shopping Centre VIC Sub Regional 50% 87.8 7.00% 31,128 Taigum QLD Sub Regional 100% 77.7 7.75% 22,857 Tweed NSW Sub Regional 100% 76.0 8.25% 19,504 Box Hill North VIC Sub Regional 100% 61.0 8.00% 14,275 Lavington NSW Sub Regional 100% 59.0 8.00% 20,026 Mornington VIC Sub Regional 100% 55.0 7.50% 11,671 Karratha WA Sub Regional 50% 49.1 7.75% 23,852 Springwood QLD Sub Regional 100% 49.0 8.50% 14,846 Whitsunday QLD Sub Regional 100% 48.6 8.50% 22,299 Goulburn NSW Sub Regional 100% 48.5 8.75% 13,858 Wodonga VIC Sub Regional 100% 44.0 9.00% 17,587 Armidale NSW Sub Regional 100% 38.8 8.50% 14,691 Somerville VIC Sub Regional 100% 38.5 8.50% 16,521 Westside NSW Sub Regional 100% 35.0 9.50% 16,765 Buranda QLD Sub Regional 100% 34.3 7.75% 11,586 Mount Gambier SA Sub Regional 100% 29.0 9.25% 12,648 Warnbro WA Convenience 100% 51.3 7.75% 11,285 Halls Head WA Convenience 100% 28.0 8.00% 5,978 Albany WA Convenience 100% 26.8 8.50% 12,308 Lutwyche QLD Convenience 50% 26.0 8.75% 19,520 Katherine Oasis Shopping Centre NT Convenience 100% 25.2 9.25% 7,163 Victoria Park WA Convenience 100% 21.5 8.00% 5,480 Goldfi elds Plaza QLD Convenience 100% 20.7 9.00% 8,285 North Shore QLD Convenience 100% 18.0 8.00% 4,095 Warrnambool VIC Convenience 100% 12.1 8.75% 4,491 3,804.31 1,099,156 1 Includes land parcel at Keilor held by CRF valued at $8.8m Centro Retail Australia | Direct Shopping Centre Portfolio 2012 05 Occupancy MAT $m Sales psm Specialty Sales psm Specialty Occupancy Cost incl GST Portfolio weighting 99.5% 477.9 6,787 10,511 17.3% 8.8% 99.9% 434.0 5,873 7,590 18.9% 7.5% 99.9% 327.3 6,336 8,316 17.4% 5.5% 100.0% 289.3 4,975 8,126 18.1% 4.4% Under Development 261.8 Under Development Under Development Under Development 4.1% 97.9% 283.6 5,143 5,769 17.6% 4.0% 99.5% 369.4 9,874 9,920 12.6% 6.5% 99.6% 206.9 5,888 7,383 15.7% 5.6% 100.0% 223.7 5,815 6,896 13.7% 4.8% 99.8% 165.2 7,985 8,930 15.9% 3.6% 100.0% 199.5 7,846 7,453 12.9% 3.4% 99.7% 192.3 6,204 7,838 12.4% 3.3% 100.0% 189.9 9,585 8,690 11.2% 2.8% 99.3% 127.2 6,238 7,707 15.0% 2.8% 100.0% 167.6 5,223 6,712 15.9% 2.6% 100.0% 153.4 8,119 7,756 10.0% 2.3% 100.0% 157.3 5,077 7,812 14.5% 2.3% 100.0% 119.1 6,786 6,439 12.3% 2.0% 98.5% 101.0 5,884 6,104 15.1% 2.0% 100.0% 67.6 5,809 4,933 17.7% 1.6% 97.8% 116.8 7,021 7,281 11.7% 1.6% 100.0% 93.1 8,061 9,001 14.8% 1.4% 100.0% 257.4 11,177 10,773 8.4% 1.3% 99.7% 73.3 5,395 7,155 11.5% 1.3% 97.2% 98.3 6,240 8,326 8.7% 1.3% 100.0% 95.5 7,529 7,680 11.7% 1.3% 99.8% 93.6 5,422 5,941 12.5% 1.2% 98.2% 95.2 6,601 5,187 13.0% 1.0% 100.0% 66.0 4,562 5,126 11.7% 1.0% 100.0% 112.5 7,027 9,200 7.4% 0.9% 100.0% 68.7 7,625 7,210 13.0% 0.9% 96.7% 59.5 6,175 9,303 9.7% 0.8% 100.0% 110.7 10,395 8,116 12.5% 1.4% 100.0% 35.0 5,982 5,322 12.6% 0.7% 100.0% 53.6 10,495 4,612 9.2% 0.7% 98.7% 75.9 9,242 4,747 12.2% 0.7% 100.0% 77.4 11,418 8,956 9.5% 0.7% 100.0% 60.6 11,890 6,563 11.6% 0.6% 100.0% 47.3 6,163 6,291 8.6% 0.5% 100.0% 43.8 12,990 4,823 14.8% 0.5% 100.0% 37.5 9,266 6,660 6.9% 0.3% 6,285.6 100.0% Centro Retail Australia | Direct Shopping Centre Portfolio 2012 06 Centro Retail Australia | Direct Shopping Centre Portfolio 2012 07 ACT / NSW Australian Capital Territory Tuggeranong Hyperdome New South Wales Centro Bankstown Centro Roselands Centro Armidale Centro Goulburn Centro Lavington Centro Nepean Centro Tweed Centro Warriewood Centro Westside SYDNEY Centro Retail Australia | Direct Shopping Centre Portfolio 2012 08 TUGGERANONG HYPERDOME OVERVIEW DEMOGRAPHICS Tuggeranong Hyperdome is a major centre with four anchor retailers STATISTICS REFLECT MAIN TRADE AREA and a cinema precinct.
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