CAPABILITIES STATEMENT

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BALANCING INTERESTS & OBJECTIVES EG SERVING POWERFUL PARTNERSHIPS

FINDING ABSOLUTE ALIGNMENT®The pendulum symbol represents our commitment to being in alignment with our partners.

EG IS A REAL ESTATE FUND MANAGER WITH MARKET LEADING PERFORMANCE OVER THE 15 YEARS SINCE ESTABLISHMENT.

Our team is nimble and innovative when identifying investment opportunities. This approach is balanced by a disciplined and systematic rigour in managing risk, accordingly realising consistently strong returns for our investors.

We are focused on creating alignment in our relationships with capital partners because we believe that this is fundamental to long term success. We value lasting relationships and the authenticity of these connections.

Our systematic, data-driven approach is underpinned by our unique risk management system, PRISMS®. This web enabled software ensures a methodical approach to identifying, evaluating and pricing market and asset risk. This proprietary technology has allowed EG to be a leader in the industry.

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ADAM GEHA CHIEF EXECUTIVE OFFICER FOUNDING DIRECTOR

“DOING THE RIGHT THING BY INVESTORS MEANS EVERYONE WINS.

”CONTENTS

OUR MARKET 7

INVEST WITH EG 9

Active Investment Mandates

Consistently High Returns

THE EG DIFFERENCE 14

ABSOLUTE ALIGNMENT® 17

PRISMS® 19

EG DIVISIONS 22

EG Developments

EG Urban Planning

EG Property USA

WE ARE EG 34

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ACTIVELY INVESTING TO OUTPERFORM MARKET RETURNS

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RISK

CORE

CORE PLUS

VALUE ADDED

OPPORT- UNISTIC

COREProperties in prime locations often with blue chip tenants. Stable, counter-cyclical investment offering.

CORE PLUSCore properties showing potential for enhanced returns, typically by way of refurbishment and or re-letting.

VALUE ADDEDNon-core properties with the potential for greater returns if correctly rezoned or repurposed.

OPPORTUNISTIC These include residential and commercial developments and special situations portfolios.

THERE ARE ALWAYS OPPORTUNITIES TO EXCEL FOR THOSE WILLING TO WORK HARD AND SMART ENOUGH. WE EMBRACE A RANGE OF ACTIVE ASSET MANAGEMENT STRATEGIES TO ACHIEVE STRONG RETURNS.

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ACTIVE INVESTMENT MANDATES

COMMERCIAL ASSETS

BY SECTOR

THE EG TEAM’S CAPITAL TRANSACTION EXPERTISE AND EXPERIENCE COVERS ALL COMMERCIAL ASSET CLASSES, INCLUDING: OFFICE, RETAIL, INDUSTRIAL, HOSPITALITY AND DEVELOPMENT SITES.

CORE PLUS INVESTMENT MANDATE EG is currently fulfilling an investment mandate to acquire a further AU$400 million in Core Plus assets. The focus of this mandate is to acquire office, retail and industrial properties in Sydney, Melbourne and Brisbane.

YIELD PLUS INFRASTRUCTURE INVESTMENT MANDATEThe Yield Plus Infrastructure (YPI) investment mandate invests in yield-producing assets likely to benefit from urban renewal arising from new transport or community infrastructure. The upside is realised through rezoning, repositioning and redevelopment. The geographical focus of this mandate is on Australian capital cities.

OPPORTUNISTIC FUNDSWe’re participating in several joint-ventures with international and domestic investors to redevelop eight major urban renewal sites in Australian capital cities.

“WE CHOOSE TO BE DEFINED BY THE WAY WE DO BUSINESS, AS MUCH AS THE BUSINESS WE DO.MICHAEL EASSON AM EXECUTIVE CHAIRMAN FOUNDING DIRECTOR ”

ASSETS BY SECTOR26%

RETAIL

16%INDUSTRIAL

26%MIXED USE

DEVELOPMENT

27%OFFICE

2%HOSPITALITY

3%VA

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“GREAT DECISION MAKING IN REAL ESTATE REQUIRES ROBUST DISCUSSION.

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PROPERTY

ACQUISITION DATE

PURCHASE PRICE (AU$)

SALE DATE

SALE PRICE (AU$)

REALISED EQUITY IRR PA

Brunswick East, Vic April 2009 8.7m Nov 2010 14.9m 32.0%*

East Perth, WA June 2008 11.6m Jan 2013 15.3m 14.7%

Allengrove, Ryde, NSW 2003-2006 10.8m July 2013 19.3m 9.0%

Harrington St, Sydney, NSW Sep 2011 7.1m Nov 2013 12.9m 46.0%

Whiteside, Ryde, NSW 2004-2008 7.9m Dec 2013 25.2m 18.0%

Burwood, NSW Sep 2010 25.4m Feb 2014 35.6m 25.3%

Surry Hills, NSW Mar 2011 36.7m Dec 2014 50.3m 24.0%

Fremantle, WA Oct 2005 38.0m Dec 2014 40.0m 1.6%

Summer Hill, NSW Sep 2007 21.9m Mar 2015 50.0m 12.0%**

Five Dock, NSW Oct 2007 9.8m Dec 2014 25.0m 14.6%**

AVERAGE EQUITY IRR: 19.7%

* Ungeared

** Ungeared, 75% JV Sale

ACHIEVING CONSISTENTLY HIGH RETURNS

Our realised returns over the past five years have delivered an average equity IRR above 18% p.a.

We’ve recorded positive returns on every single asset acquisition we’ve made thus far. We are unaware of any other Australian fund manager that can make the same claim in the wake of the global financial crisis.

EG RETURNS ON ASSETS OVER AU$10 MILLION

“WE’VE CONSISTENTLY OUTPERFORMED OUR PEERS IN THE AUSTRALIAN VALUE-ADD PROPERTY SECTOR.

ROGER PARKER EXECUTIVE DIRECTOR ”

BALANCING OPPORTUNITY & INTEGRITYEG WHEN WE DO THE RIGHT THING EVERYBODY WINS

THE EG DIFFERENCE

PRISMS® FILTER THE DEALS

Risk management is a priority at EG. We’ve developed our own proprietary risk assessment model to clearly measure and price real estate risks, providing specific guidance to the team.

PROPRIETARY INVESTMENT MODEL

Our success is due to a focused, strategic approach to investment in real estate. We view real estate as a ‘network asset’, so we map and analyse infrastructure to assess its impact on values, and highest and best use.

TEAM CULTURE

EG Grow is a unique, personal and professional development program created by EG, to cultivate high levels of engagement and trust among team members. This allows vital decisions to be debated without personal agendas.

TEAM CULTURE

ABSOLUTE ALIGNMENT™

DEALFLOW

PROPRIETARY INVESTMENT

MODEL

PRISMSTEAM CULTURE

ABSOLUTE ALIGNMENT™

DEALFLOW

PROPRIETARY INVESTMENT

MODEL

PRISMSTEAM

CULTUREABSOLUTE

ALIGNMENT™DEAL

FLOWPROPRIETARY INVESTMENT

MODEL

PRISMS

ABSOLUTE ALIGNMENT®

Our proprietary alignment model:1. Base fees as a fixed dollar

amount based on resourcing and costs, never as a percentage of FUM.

2. First loss co-investment by EG.

3. Success fees are back-ended, with Investors receiving realised returns first.

TEAM CULTURE

ABSOLUTE ALIGNMENT™

DEALFLOW

PROPRIETARY INVESTMENT

MODEL

PRISMSTEAM CULTURE

ABSOLUTE ALIGNMENT™

DEALFLOW

PROPRIETARY INVESTMENT

MODEL

PRISMS

DEAL FLOWFIND THE DEALS

Our extensive network of contacts gives us access to a constant stream of off-market and pre-market deal opportunities. We contact over 240 real estate agents monthly through a rigorous, structured program which is actively monitored, scored and rewarded.

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WE BELIEVE THAT ALIGNMENT IS VITAL TO LONG-TERM INVESTMENT OUT-PERFORMANCE. WE’VE DEVELOPED A PROPRIETARY ALIGNMENT MODEL CALLED ABSOLUTE ALIGNMENT® TO SUPPORT THIS BELIEF WITH A SET OF CORE PROMISES:

01We will always quote our base fees in dollar terms, not as a percentage of Funds Under Management (FUM). This is because we believe that base fees should be tightly linked to resourcing and cost recovery. It should not deliver a substantial profit to the fund manager.

02We will always co-invest alongside our investment partners and we will do so in a “first loss” position. This is to ensure that we will remain supremely focused on downside risk potential.

03We will always receive our success fees only after all the assets have been sold (i.e. realised, rather than on valuation).

ABSOLUTE ALIGNMENT®

TEAM CULTURE

ABSOLUTE ALIGNMENT™

DEALFLOW

PROPRIETARY INVESTMENT

MODEL

PRISMS

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A LARGE PART OF EG’S SUCCESS CAN BE ATTRIBUTED TO SUPERIOR RISK MANAGEMENT. EG HAS DEVELOPED A PROPRIETARY RISK MANAGEMENT SYSTEM, PRISMS®, TO IDENTIFY RELEVANT RISKS AND QUANTIFY APPROPRIATE PRICING PRIOR TO ACQUISITION.

PRISMS® is a proprietary,web-enabled software that calculates scores for systematic risk (property cycle risk), asset betas (susceptibility to property cycle risk) and asset-specific risks based on the risk profile of the particular asset.

These risk scores are combined by a weighting system to calculate an overall risk score for each investment prior to acquisition. This allows us to compare all investment opportunities on a risk-return basis.

SYSTEMATIC RISK SCORE

(MACRO)

SYSTEMATIC RISK SCORE

(SECTOR SPECIFIC)

DEAL SPECIFIC SYSTEMATIC RISK SCORE

CYCLE-ADJUSTED SYSTEMATIC RISK

WEIGHTING

ASSET BETA RISK

WEIGHTING

FINAL WEIGHTING TO SYSTEMATIC RISK

DEBT

ACTIVE CAPITAL GROWTH

PASSIVE CAPITAL GROWTH

NET YIELD

WEIGHTED ASSET RISK

RISK LOADING FOR DD / VENDOR RISK

APPLY BALANCE TO ASSET RISK

DECONSTRUCT BASE CASE IRR

RISK DEAL SCORE

RISK–RETURN RATIO

WEIGHTED SYSTEMATIC RISK

®

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OUR PRISMS® SOFTWARE OFFERS A DISCIPLINED, SYSTEMATIC APPROACH TO RISK FOR EVERY ASSET.

“

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EG DEVELOPMENTS

RESIDENTIAL REZONING EG RESONATING WITH LOCAL COMMUNITIES

EG develops high-quality residential projects with a focus on urban planning and architectural design.

Our developments across Australia have a pipeline value of more than AU$2.0 billion. The portfolio includes several high profile sites in Drummoyne and Summer Hill, NSW.

We work hard to create lasting relationships with our joint-venture partners, architects and construction experts. This mutually beneficial approach extends to the communities we build within.

(Professional render of Tempo, Drummoyne)

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The Flour Mill at Summer Hill is located in a unique, village-like suburb in Sydney’s inner west. The community is tight knit with a strong sense of local history, and it was essential to EG to engage in a consultative approach with local residents from the project’s inception.

The location capitalises on the new light rail that runs adjacent to the Flour Mill, representative of the urban renewal within the surrounding area. EG recognised the potential to revitalise the site through retaining the existing heritage of the iconic Allied Mills silos, while complementing them with contemporary design.

Hassell, a leading international design firm, created an integration between the old and the new by weaving the industrial history of the site into modern apartments. The architecture has seamlessly retained the well-known silhouette of the Flour Mill through incorporating 45 of the new homes within the silo structure.

The development has been undertaken as a joint venture with Japan’s largest home builder, Daiwa House.

BALANCING PRESENT & PAST EG SUMMER HILL FLOUR MILL REDEVELOPMENT

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EG Urban Planning always works to add value through its proven property experience, financial management skills and technical expertise in obtaining land use changes and upzonings through consent authorities.

Each property’s land use potential is assessed on a case-by-case basis having regard to its existing zoning, location, size, shape and relationship to nearby properties and infrastructure, rental potential and state of repair.

We work with clients from a project’s inception to completion, commission specialist consultants and project manage the rezoning and/or development approval process.

We’re proud to have worked with clients including The University of NSW, Goodman, McDonalds, ING, Australand, GPT and Multiplex.

EG’S URBAN PLANNING SERVICES PROVIDE STRATEGIC ADVICE AND PROJECT MANAGEMENT EXPERTISE TO ACHIEVE HIGHEST AND BEST USE OF PROPERTY PORTFOLIOS.

EG URBAN PLANNING

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EG offers investors a tailored approach to investing in real estate in the United States.

The United States office opened in 2012, created through the opportunity to diversify our high-net worth investors’ portfolios offshore. The higher prospective yields, coupled with the long term prospects of job-hungry millennials, have made Austin a prime investment location for high net worth Australian investors.

We offer a range of opportunities from property funds to purpose-built real estate portfolios.

EG’s portfolio comprises single and multi-family homes, which are renovated and sold, or held for rental yield. EG has developed a strong track record with returns in excess of 20% p.a.

EG PROPERTY USA

BALANCING RISK & RETURNEG RESIDENTIALINVESTMENT OPPORTUNITY

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EG incorporates Environmental, Social and Governance (ESG) standards throughout the investment management process.

EG ensures our urban renewal and redevelopment projects remain sympathetic to the environment in which we invest and develop, including heritage responsibility, environmental management and engagement with the community through consultative processes.

EG is also a signatory to the UN Principles of Responsible Investment (UNPRI) and records and reports annually on its adherence to the six principles of responsible investment across the business.

Giving is a large part of EG’s culture. Through various programs, the team has many opportunities to support those in need. EG currently sponsors two charities: Half the Sky Foundation, which cares for orphaned children in China, and a local child care facility in Manila, which supports underprivileged families. EG assists these charities through financial support and the team members participate by donating time, clothing, toys and through personal giving.

IT’S PART OF OUR FIDUCIARY DUTY TO CONSIDER ALL FACTORS WHICH MAY IMPACT STAKEHOLDERS, THE COMMUNITY AND THE ENVIRONMENT.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE

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OVER HALF OF EG’S TEAM HAVE WORKED TOGETHER FOR OVER FIVE YEARS.

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MARK TURNER EXECUTIVE DIRECTOR

ROGER PARKER EXECUTIVE DIRECTOR

ADAM GEHA CEO FOUNDING DIRECTOR

MICHAEL EASSON AM CHAIRMAN FOUNDING DIRECTOR

BSc Urban Land, GAICD, MRICS

Mark sits on EG’s investment committee and oversees the asset management of EG’s retail, and office assets. In addition, Mark is integrally involved in capital raising for EG’s funds and mandates.

Mark has over 25 years’ experience in real estate funds management, formerly Head of Funds Management at DEXUS.

Mark has extensive experience investing in real estate in Australia, UK, Europe and Asia and was responsible for over AU$4.0 billion of transactions in the last 12 years and growing a funds management business from AU$4.5 billion to over AU$6.0 billion, raising equity from investors in Australia, Europe, Middle East and North America.

BSc (Hons), FAPI, MRICS

Roger leads the delivery of key strategic and operational objectives, including finding new ventures and identifying capital partners in Asia, Europe and North America.

He has over 25 years’ experience in property funds management, based both in the UK and Australia. Prior to joining EG, Roger held senior positions at Investa Property Group, Colonial First State and Lend Lease. He ran property funds and mandates ranging from AU$400 million to over AU$2.0 billion, achieving index leading performance in these roles.

Roger has been directly responsible for equity capital raisings exceeding AU$1.0 billion and capital transactions of assets across domestic and offshore investment sectors totalling over AU$2.0 billion.

BEcon (Hons) Law (Hons)

Adam is a founding director of EG and is the driving force behind the vision and strategic direction of the company. With a passion for team culture, Adam maintains an overall focus on recruiting, leading and training the team.

As a member of the Investment Committee across all of EG’s funds, Adam is responsible for key decision-making on all major acquisitions and divestments. Adam oversees EG’s proprietary risk management software, PRISMS®, which is pivotal in determining and measuring risk across all transactions at EG.

Adam has over seven years’ experience in the investment banking industry. He advised on a number of high profile transactions for Macquarie Bank’s corporate advisory and project finance divisions including Macquarie Infrastructure Group’s acquisition of a portfolio of European infrastructure assets, later valued at over AU$1.5 billion.

BA (First Class Hons),

MSc, PhD (History), PhD (Urban Planning & Transport) FAICD, FRICS

Michael sustains EG’s vision and strategic direction, maintaining a strong engagement with our projects.

He has extensive experience in infrastructure, funds management and development, and is currently Chair of ASFA, ActewAGL and Icon Water and an independent director of ANZ (2000 Olympic) Stadium. He was a founding director of both Macquarie Infrastructure Group and Macquarie Goodman. His past directorships include ING RE, State Super, NRMA Insurance, State Rail Authority of NSW and Sydney Metro Transport.

Michael was an Adjunct Professor at the Australian Graduate School of Management’s Centre for Corporate Change and previously Vice President of the Australian Council of Trade Unions and Secretary of the NSW Labor Council.

WE ARE EG TRANSACTION AND COMMERCIAL EXPERIENCE

WE ARE EG TRANSACTION AND COMMERCIAL EXPERIENCE

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WE ARE EG WE ARE EG

RAJA JAMAL SENIOR DEVELOPMENT MANAGER

KARL HOWARD ASSET MANAGER

RODNEY WALT ASSOCIATE DIRECTOR

JUSTIN FOONG ASST DEVELOPMENT MANAGER

PETER FANOUS HEAD OF RETAIL INVESTMENTS

MIA KWOK COMMUNICATIONS CO-ORDINATOR

CHANEL MCARTHUR OFFICE MANAGER

SALLY BURNS ASSOCIATE DIRECTOR

GEORGE CHAAYA CONSTRUCTION DIRECTOR

JANE DALY RETAIL ASSET MANAGER

GEORGE CHAAYA CONSTRUCTION DIRECTOR

CLAUD CHAAYA SENIOR MANAGER / ANALYST

GEORGIA MACINTOSH ASST DEVELOPMENT MANAGER

AURELIO DI NAPOLI ASSOCIATE DIRECTOR

SHIELA NUNEZ EXECUTIVE ASSISTANT

CATHERINE HARDING GENERAL COUNSEL

SEAN FLEMING ASSOCIATE DIRECTOR

SPIRO DIMITRIOU VICE PRESIDENT OPERATIONS (US)

ADRIAN LEE CHIEF FINANCIAL OFFICER

TESS HATTINGH HEAD OF MARKETING AND HR

GRANT FLANNIGAN DEVELOPMENT DIRECTOR

MARK SYKE PLANNING AND DESIGN DIRECTOR

JOSEPH KALK SENIOR ACCOUNTANT

DAN FARLEY DIVISIONAL DIRECTOR

AAKRITI CHONA PROPERTY ANALYST

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BALANCING INTERESTS & OBJECTIVES EG SERVING POWERFUL PARTNERSHIPS

SYDNEYGovernor Phillip Tower Level 21, 1 Farrer Place Sydney NSW 2000 Australia

MELBOURNEKurrajong House Suite 2, Level 7 175 Collins Street Melbourne VIC 3000 Australia

AUSTIN, TEXAS

114 W 7th Street Suite 1230 Austin TX 78701 USA T. +61 2 9220 7000 E. contact@eg.com.au www.eg.com.au