Goodman : Stakeholder Review and Annual Report 2019

25 September 2019

The Manager

Company Notices Section

ASX Limited

Exchange Centre

20 Bridge Street

Sydney NSW 2000

Dear Sir / Madam,

Goodman Group (Goodman) - Stakeholder Review and 2019 Annual Report

The Goodman Stakeholder Review and 2019 Annual Report (incorporating the consolidated financial reports for Goodman Limited, Goodman Industrial Trust, and Goodman Logistics HK Limited) was dispatched to Securityholders today.

The Reports and covering letter are attached.

Annual General Meetings

The Annual General Meetings for the Goodman Group entities will be held at 10:00am (Sydney time) on Wednesday, 20 November 2019 at The Fullerton Hotel Sydney (previously known as the Westin Hotel), Heritage Ballroom, No 1 Martin Place, Sydney NSW. The Notice of Meetings and Proxy Forms will be dispatched to Securityholders by 21 October 2019.

Yours sincerely

Carl Bicego

Company Secretary enc

GRP01-7-1990.2Goodman Group

Goodman Limited | ABN 69 000 123 071

Goodman Funds Management Limited | ABN 48 067 796 641 | AFSL Number 223621 as responsible entity of Goodman Industrial Trust | ARSN 091213 839

Level 17, 60 Castlereagh Street, Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia Tel [phone] | Fax [phone]

Goodman Logistics (HK) Limited | Company No. 1700359 | ARBN 155 911 149 | a Hong Kong company with limited liability Suite 901, Three Pacific Place, 1 Queen's Road East, Hong Kong | Tel [phone] | Fax [phone]

[e-mail] | www.goodman.com

25 September 2019

Dear Securityholder,

Goodman Group - Stakeholder Review and 2019 Annual Report

We are pleased to present the Goodman Stakeholder Review and Annual Report for 2019. Goodman had another very positive year delivering an operating profit of $942 million and statutory profit of $1,628 million with all our businesses contributing to this strong result. Our strategy is customer-led and our success is due to the consistent execution of this by our teams around the world.

This Stakeholder Review provides a comprehensive presentation of Goodman's global business for our Securityholders, Partners and customers. Our theme this year is 'space for the world's greatest ambitions' in line with our own ambition to help our customers grow and succeed in this ever-changing environment. To support this, we have profiled the ambitions of three very different companies around the world who are applying innovative solutions to help address some of the biggest challenges facing our industry and that of our customers. I hope that you find these both interesting and thought provoking.

The Annual Report includes the consolidated financial reports for Goodman Limited (being for the entire consolidated Goodman Group), Goodman Industrial Trust and Goodman Logistics (HK) Limited.

Annual General Meetings

The Annual General Meetings for the Goodman Group entities will be held at 10:00am (Sydney time) on Wednesday, 20 November 2019 at The Fullerton Hotel Sydney (previously known as the Westin Hotel), Heritage Ballroom, No 1 Martin Place, Sydney NSW. The Notice of Meetings and Proxy Forms will be dispatched to Securityholders by 21 October 2019.

Thank you for your support over the past year.

Yours sincerely,

Gregory Goodman

Group Chief Executive Officer

GRP01-7-1989.3Goodman Group

Goodman Limited | ABN 69 000 123 071

Goodman Funds Management Limited | ABN 48 067 796 641 | AFSL Number 223621 as responsible entity of Goodman Industrial Trust | ARSN 091213 839

Level 17, 60 Castlereagh Street, Sydney NSW 2000 | GPO Box 4703, Sydney NSW 2001 Australia Tel [phone] | Fax [phone]

Goodman Logistics (HK) Limited | Company No. 1700359 | ARBN 155 911 149 | a Hong Kong company with limited liability Suite 901, Three Pacific Place, 1 Queen's Road East, Hong Kong | Tel [phone] | Fax [phone]

[e-mail] | www.goodman.com

SPACE FOR

T H E W O R L D ' S G R E A T E S T

AMBITIONS

Goodman Group Stakeholder Review 2019

01

It's not enough to simply

wish for greatness.

We need to commit to it with

determination and drive.

02 GOODMAN GROUP 2019

Our ambition is to help our customers grow and succeed.

Overview	Chairman's	Group	Operational
	letter	CEO's letter	performance
04	08	14	20
We are Goodman	Big picture	Connecting	High
		customers	performance
			22
			Own
			26
			Develop
			28
			Manage

CONTENTS 03

We want to make their ambitions a reality.

Ambition	Corporate	The Goodman	Global	Corporate
feature	responsibility	Foundation	network	information
	and sustainability
30	44	64	72	74
Fasten your	Positive	Doing good	What makes a
seatbelts	impact	in the world	good location
32	46	66	72	74
Delivery in 30	2019 highlights	Making a tangible	Regional profiles	Board of Directors
minutes or less	48	difference		76
36	Sustainability			Five year financial
Eliminate global				summary
food waste				78
40				Securities
Reshape the surface				information
of our planet				79
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