DEXUS : Waterfront Brisbane cleared for lift off

Dexus

Media Release

13 July 2023

Waterfront Brisbane cleared for lift off

Dexus has marked the start of the next phase of construction of the landmark Waterfront Brisbane project in Brisbane's CBD with the dismantling of Eagle Street Pier almost complete.

More than 7600 tonnes of material have now been cleared from the site and at least 95% of that material will be recycled or repurposed.

Queensland Acting Premier Steven Miles, Deputy Mayor Cr Krista Adams and Dexus Project Director Matt Beasley celebrated the start of ground works at a ceremony today, unveiling new furniture made from Eagle Street Pier's granite slabs, stainless steel balustrading and timber decking.

Acting Premier Steven Miles said the start of ground works was a significant milestone in the creation of a city- shaping project.

"The Queensland Government is pleased to have facilitated this project, to deliver big benefits for Brisbane and Queensland," Mr Miles said.

"Queensland is in a golden decade of opportunity in the lead up to the Brisbane 2032 Olympic and Paralympic Games. It's significant developments like this one that will unlock investment, create jobs and put Brisbane on the map as we're in the global spotlight."

Deputy Mayor Krista Adams said Waterfront Brisbane would contribute to Brisbane City Council's vision for the City Reach of the river.

"We want to revitalise the iconic Brisbane River and Waterfront Brisbane's strong river connectivity will deliver vibrant retail and public space for locals and visitors alike," Cr Adams said.

When reopened, the transformed riverwalk will be a minimum of six metres wide, and in some places up to 14 metres. It will incorporate a new riverfront retail precinct, bike and scooter parking, access to terraced lawns and gardens with enhanced connections to Eagle Street, and places to pause and take in the view.

The project has partnered with Five Mile Radius, a Brisbane-based design studio creating innovative methods to repurpose construction waste, including the furniture that was unveiled today. The furniture will be installed in the new Waterfront Brisbane precinct.

Dexus Project Director Matt Beasley said: "Repurposing material from the site was a central part of the project's sustainability objectives. We have been able to harness leading-edge technology and innovative supply chains to minimise the development's environmental impact."

Waterfront Brisbane will complete early 2028 well ahead of the Brisbane 2032 Olympics.

Waterfront Brisbane is jointly owned by Dexus and Dexus Wholesale Property Fund.

Renders and 3D animation available for download here.

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About Dexus

Dexus (ASX: DXS) is one of Australia's leading fully integrated real asset groups, managing a high-quality Australasian real estate and infrastructure portfolio valued at $62.3 billion (pro forma post final completion of the AMP Capital acquisition). We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We directly own $17.8 billion of office and industrial assets and investments. We manage a further $44.5 billion of investments in our funds management business (pro forma post final completion of the AMP Capital acquisition) which provides third party capital with exposure to quality sector specific and diversified real asset products. The funds within this business have a strong track record of delivering outperformance and

benefit from Dexus's capabilities. The group's $15.8 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. We consider sustainability (ESG) to be an integral part of our business with the objectives of Leading Cities, Future Enabled Customers, Strong Communities, Thriving People and an Enriched Environment supporting our overarching goal of Sustained Value. Dexus is listed on the Australian Securities Exchange and is supported by more than 31,000 investors from 23 countries. With over 35 years of expertise in property investment, funds management, asset management and development, we have a proven track record in capital and risk management and delivering superior risk-adjusted returns for investors. www.dexus.com

Dexus Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for Dexus (ASX: DXS)

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