16 November 2018

MIRVAC GROUP ANNUAL GENERAL AND GENERAL MEETINGS 2018

Attached are copies of the Chairman's address and the CEO and Managing Director's address and presentation to be delivered at the Mirvac Group Annual General and General Meetings (the "Meetings") which are being held today at Mirvac's head office, Level 25, 200 George Street, Sydney NSW 2000 at 11.00am (Australian Eastern Daylight Time).

A live webcast of the Meetings can be viewed from:www.agmlive.link/MGR18

Sean Ward

Group Company Secretary

Chairman and CEO & Managing Director's Addresses to the

2018 Annual General Meeting and General Meeting of

Mirvac Limited and Mirvac Property Trust

Friday 16 November 2018

Mirvac Group

Level 25

200 George Street, Sydney NSW 2000

Mirvac Limited

ABN: 92 003 280 699 and

Mirvac Funds Limited ABN: 70 002 561 640

(as responsible entity for Mirvac Property Trust ARSN: 086 780 645)

Chairman's Address

Good morning and welcome to the Annual General Meeting of Mirvac Limited and the General Meeting of the Mirvac Property Trust, which will be referred to today as "the Meetings". It is now 11.00am and I will now commence the Meetings.

My name is John Mulcahy and I am the Chairman of the Board of Directors of Mirvac.

I would like to welcome all those here at our head office in Sydney and also those who have joined us online today.

I would like to begin by acknowledging the traditional owners of the land, the Gadigal people of the Eora nation, on which we meet today. I would also like to pay my respects to elders past and present.

Today marks my 6th address as Mirvac's Non-Executive Chair. This year, like every year, I am proud of Mirvac's achievements.

We have delivered new developments and homes. We have created residential and office communities from scratch. We have fashioned retail centres that are both shopping centres and urban living rooms.

Normally, I would talk you through what we have achieved this past year, the details of our achievements, and step through the financials of our business.

But today I am going to leave that for our CEO & Managing Director, Susan Lloyd-Hurwitz.

I want my address to be a little bit different. I don't want to talk so much about the what, I want to talk about the how.

First, I want to start, on behalf of the board, by congratulating the entire Executive Leadership Team, led by Sue.

As the market shifts, Mirvac is on track to deliver around $1 billion of active earnings over the next three years with excellent visibility and security. 83 per cent of the $3.1 billion commercial development pipeline is pre-let and there is an embedded margin of over 25 per cent in $2.1 billion of residential pre-sales.

Over the last six years Mirvac has been transformed into an urban powerhouse.

By streamlining where necessary, seizing opportunities where possible and implementing a robust strategy focussed on strong growth corridors, we are now in a strong position with solid future pipeline.

It is how Sue and her team have achieved this strong position that is worth noting and celebrating.

As any of the employees will tell you, Mirvac operates a little differently to other companies.

It is a difference that we, the board think, stands out starkly at this time in Australian corporate history.

We have seen recently what can happen when communities lose faith in institutions that were previously pillars of trust.

Big business has a responsibility to more than its investors. It has a responsibility to the wider community, it has a responsibility to its staff and particularly property companies have a responsibility to all the environments they are impacting.

There is somewhat of a trust deficit at the moment in Australia when it comes to the way communities view corporates.

Poor behaviour lets us all down and all corporates have a responsibility to be better.

But being a better corporate citizen cannot be a box-ticking exercise. It is not a policy to be invented in a boardroom and then implemented overnight.

It takes time, strategic thinking and behaviours that are repeated and reinforced right from the top, all the way through an organisation.

I want to take this opportunity today to congratulate the Mirvac team for transforming this company into a business that never loses sight of a purpose that is bigger than profit.

Their absolute determination to be more than a strong balance sheet, and to be a force for good has fuelled a culture and fired up a business that proudly and passionately believes in its purpose to Reimagine Urban Life.

This focus has created a diverse and inclusive culture where people are not afraid to speak up. A culture where people want to meet milestones but also genuinely care about process and outcomes. A culture where people feel respected on all levels.

This does not just live in the upper echelons of the company. I hear this from people right across the business.

It has happened through the building of a strong culture with a framework that is dedicated to our purpose: to Reimagine Urban Life.

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Mirvac Group published this content on 16 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 November 2018 23:33:04 UTC