Quarter Time National Office Q3/2018

Savills Research Australia Quarter Time National Office CBD Averages A Grade National Office N.F. Rent N.E. Rent Market Yield IRR Cap. Value Sydney CBD 1,065 (8.7%) 845 (7.6%) 4.75 (-40bps) 6.65 (-25bps) 20,300 (6.8%) Melbourne CBD 580 (6.4%) 430 (8.9%) 5.20 (-20bps) 6.75 (-15bps) 10,000 (5.3%) Brisbane CBD 540 (-) 290 (-) 6.00 (-65bps) 7.00 (-100bps) 9,800 (8.9%) Perth CBD 565 (-) 290 (-1.7%) 7.00 (-50bps) 7.50 (-50bps) 8,000 (1.3%) Adelaide CBD 370 (-) 210 (-19.2%) 7.25 (-25bps) 8.25 (-) 5,000 (-) Canberra Civic 370 (-) 290 (-) 6.25 (-15bps) 7.90 (-25bps) 7,300 (7.4%) Note: 12 month change shown in brackets Trends Detailed Sales Activity: $16.223bn 183 Sales ($10m+) Leasing Activity 989,222 sq m 261 Leases (1,000sq m+) Employment 12.52m 2.5% growth savills.com.au/research

Report Contents National Indicator Summary 3 Office Economic Drivers 5 National Sales Activity 6 National Leasing Activity 7 State Indicators and Major Activity New South Wales 8 Victoria 11 Queensland 14 Western Australia 17 South Australia 20 Australian Capital Territory 23 Client Data & Information Portal 25 Key State Contacts 26 National Head Capital Strategy & Research Chris Freeman cfreeman@savills.com.au Associate Director Capital Strategy & Research Shrabastee Mallik smallik@savills.com.au For our latest national reports, visit savills.com.au/research To join Savills Research mailing list, please email research@savills.com.au National CBD Average Yield and IRR vs 10yr Bond Rate Source: RBA, Savills Research National CBD A Grade - Average Yield Spread over 10yr Bond Rate and IRR Multiple Source: RBA, Savills Research savills.com.au/research 2

Fringe Market Averages A Grade National Office N.F. Rent N.E. Rent Market Yield IRR Cap. Value North Sydney 840 (7.0%) 650 (14.0%) 5.25 (-50bps) 6.80 (-45bps) 15,300 (27.5%) Macquarie Park 370 (2.8%) 270 (5.9%) 5.75 (-50bps) 7.00 (-40bps) 7,000 (16.7%) Parramatta 545 (18.5%) 450 (21.6%) 5.50 (-65bps) 6.90 (-35bps) 10,300 (37.3%) St Kilda 435 (11.5%) 355 (16.4%) 5.90 (-35bps) 6.90 (-35bps) 6,800 (15.3%) Brisbane Fringe 445 (-) 230 (-4.2%) 6.25 (-65bps) 7.65 (-50bps) 8,500 (1.2%) Sunshine Coast 330 (-) 260 (-) 7.65 (-100bps) 9.75 (-) 4,000 (-7.0%) Gold Coast 350 (7.7%) 245 (4.3%) 8.15 (-35bps) 9.50 (-) 4,800 (11.6%) West Perth 325 (-) 180 (-5.3%) 7.50 (-50bps) 8.00 (-40bps) 4,100 (-) Adelaide Fringe 345 (-) 260 (-) 7.50 (-25bps) 8.65 (-) 4,400 (-) Canberra Non-Civic 335 (-8.2%) 250 (-16.7%) 7.00 (-) 8.40 (-10bps) 6,300 (-) Note: 12 month change shown in brackets National Face Rents, Effective Rents and Incentive Comparison A Grade Average 12 Month Net Effective Rental & Capital Growth A Grade Average savills.com.au/research 3

Yield and IRR Spread to Bond Rates A Grade Average Typical Capital Value Range ($/sq m) A Grade Average Capital Value CAGRs by Period A Grade Average (Historic) Effective Rental CAGRs by Period A Grade Average (Historic) 20% 1yr 3yr CAGR 5yr CAGR 10yr CAGR 25% 1yr 3yr CAGR 5yr CAGR 10yr CAGR 20% 15% 15% 10% 10% 5% 0% 5% -5% -10% 0% -15% -20% -5% Sydney CBD Melbourne CBD Brisbane CBD Perth CBD Adelaide CBD Canberra Civic -25% Sydney CBD Melbourne CBD Brisbane CBD Perth CBD Adelaide CBD Canberra Civic Note: CAGR = Compound Annual Growth Rate savills.com.au/research 4

Office Sector Economic Drivers Net Absorption vs. Growth in Prof. Job Advertisements Annual Growth in Professional Job Advertisements - % (to Aug-18) 500,000 400,000 Sydney CBD Melbourne CBD Brisbane CBD Perth CBD Adelaide CBD Canberra Prof. Job Ads 30% 20% WA VIC 11.0% 16.0% 300,000 200,000 100,000 10% 0% (10%) NT AUS 10.0% 8.2% - (20%) QLD 8.0% (100,000) (30%) TAS 6.4% (200,000) (300,000) (40%) (50%) NSW ACT 5.8% 5.8% Note: Net Absorption to Dec-17, Job Adverts to Aug-18 SA 1.7% Annual Growth in Employment 500,000 F/T Employed P/T Employed 400,000 300,000 200,000 100,000 - (100,000) (200,000) Annual Growth in Employment by State - % (to Aug-18) NSW NT 3.0% VIC 2.5% AUS 2.5% QLD 2.3% SA 1.8% TAS 1.1% WA 1.0% 3.6% ACT 0.9% Note: CAGR = Compound Annual Growth Rate Summary of State Economic Indicators Key State Indicators (%) Latest NSW VIC QLD WA SA ACT AUS SFD / GDP Growth Jun-18 5.0 (3.0) 3.7 (1.8) 1.3 (1.8) 4.0 (2.0) 4.4 (2.6) 5.0 (3.0) 2.9 (2.6) Population Growth Mar-18 2.2 (2.1) 1.7 (1.8) 0.8 (1.9) 0.7 (0.9) 2.1 (1.9) 2.2 (2.1) 1.6 (1.6) Employment Growth Aug-18 2.5 (2.2) 2.3 (1.3) 1.0 (1.4) 1.8 (0.7) 0.9 (1.3) 2.5 (2.2) 2.5 (1.6) Unemployment Rate Aug-18 5.3 (5.7) 6.1 (5.8) 6.1 (5.1) 5.8 (6.1) 3.8 (3.9) 5.3 (5.7) 5.4 (5.5) CPI (Inflation) Jun-18 2.5 (2.2) 1.7 (2.2) 1.1 (1.8) 2.7 (2.1) 2.8 (2.0) 2.5 (2.2) 2.1 (2.1) Job Adverts (Total) Aug-18 11.0 (-3.4) 8.0 (-7.4) 16.0 (-6.4) 1.7 (-7.3) 5.8 (1.3) 11.0 (-3.4) 8.2 (-4.7) Job Adverts (Prof) Aug-18 12.7 (-2.2) 11.3 (-6.3) 18.0 (-6.9) 15.2 (-4.9) 6.5 (1.9) 12.7 (-2.2) 11.6 (-4.1) Source: ABS / DOE / Savills Note: Annual change shown, 10yr compound average in brackets; Note: Economic growth numbers are on a rolling annual basis; Employment growth is on trend terms savills.com.au/research 5

National Sales Activity Reported Transaction Activity Sales $10m+ $20bn NSW VIC QLD WA SA ACT $18bn $16bn $14bn $12bn $10bn $8bn $6bn $4bn $2bn $0bn 100% 80% 60% 40% 20% 0% Purchasers Fund Developer Government Foreign Investor Other Vendors Trust Owner Occupier Syndicate Private Investor Top Recent 15 Sales by Value ($m) 418.00 277.60 250.00 240.00 170.00 160.00 135.00 122.00 110.00 101.35 95.25 93.88 93.00 82.17 71.00 70.00 61.00 49.00 41.00 40.00 80 Ann St, Brisbane, QLD (50.0%) - Jul-18 - $11,353/sq m 60 Station St, Parramatta, NSW - Aug-18 - $10,818/sq m 1 Sussex St, Sydney, NSW - Jul- 18 - $25,000/sq m 275 George St, Sydney, NSW - Aug-18 - $32,877/sq m 2 King St, Fortitude Valley, QLD - Sep-18 - $10,403/sq m 60 Collins St, Melbourne, VIC - Sep-18 - $11,580/sq m 12-26 Franklin St, Adelaide, SA (50.0%) - Aug-18 - $7,236/sq m 383 La Trobe St, Melbourne, VIC - Sep-18 - $11,961/sq m 343 Albert St / 143 Turbot St, Brisbane, QLD - Jul-18-60 Flinders St, Adelaide, SA - Aug-18 - $6,443/sq m 260 Queen St, Brisbane, QLD - Aug-18 - $7,364/sq m 277 William St, Melbourne, VIC - Jul-18 - $7,772/sq m 40 Tank St, Brisbane, QLD - Aug-18 - $14,957/sq m 60 Pitt St, Sydney, NSW - Aug- 18 - $19,886/sq m 80 Mount St, North Sydney, NSW - Sep-18 - $11,444/sq m 52 Collins St, Melbourne, VIC - Sep-18 - $20,266/sq m 80 Dixon St, Sydney, NSW - Aug-18 - $24,498/sq m 105 York St, South Melbourne, VIC - Sep-18 - $9,598/sq m 60 Queen St, Brisbane, QLD - Sep-18 - $13,041/sq m 235-237 Ryrie St, Geelong, VIC - Jul-18 - $4,819/sq m Top Recent 15 Sales by $/sq m 32,877 25,000 24,498 20,266 19,886 14,957 14,789 13,041 12,036 11,961 11,580 11,444 11,353 10,818 10,403 9,598 9,563 8,295 7,918 7,772 275 George St, Sydney, NSW - Aug-18 - $240.00m 1 Sussex St, Sydney, NSW - Jul- 18 - $250.00m 80 Dixon St, Sydney, NSW - Aug- 18 - $61.00m 52 Collins St, Melbourne, VIC - Sep-18 - $70.00m 60 Pitt St, Sydney, NSW - Aug-18 - $82.17m 40 Tank St, Brisbane, QLD - Aug- 18 - $93.00m 362 Little Collins St, Melbourne, VIC - Sep-18 - $14.05m 60 Queen St, Brisbane, QLD - Sep-18 - $41.00m 2 Millennium Blvd, Carindale, QLD - Sep-18 - $28.20m 383 La Trobe St, Melbourne, VIC - Sep-18 - $122.00m 60 Collins St, Melbourne, VIC - Sep-18 - $160.00m 80 Mount St, North Sydney, NSW - Sep-18 - $71.00m 80 Ann St, Brisbane, QLD (50.0%) - Jul-18 - $418.00m 60 Station St, Parramatta, NSW - Aug-18 - $277.60m 2 King St, Fortitude Valley, QLD - Sep-18 - $170.00m 105 York St, South Melbourne, VIC - Sep-18 - $49.00m 217 George St, Brisbane, QLD - Sep-18 - $30.36m 107 Overton Rd, Williams Landing, VIC - Jul-18 - $25.93m 115 Batman St, West Melbourne, VIC - Sep-18-277 William St, Melbourne, VIC - Jul-18 - $93.88m savills.com.au/research 6

National Leasing Activity Reported Leasing Activity by CBD Leases 1,000sq m+ 1,600,000 Sydney - CBD Melbourne - CBD Brisbane - CBD Perth - CBD 1,400,000 Adelaide - CBD Canberra 1,200,000 1,000,000 800,000 600,000 400,000 200,000 Retail & W'Sale 55,112sqm - 5.7% IT & Comm 88,816sqm - 9.2% Mining & Util. 118,108sqm - 12.3% Business Serv. 209,260sqm - 21.7% Govt. 210,704sqm - 21.9% Fin & Ins 258,979sqm - 26.9% Leasing Composition by Type Leases 1,000sq m+ Leasing Composition by Grade Leases 1,000sq m+ Direct - 583,534sqm - 59.2% Precommit - 338,725sqm - 34.4% Renewal - 53,910sqm - 5.5% Sublease - 9,148sqm - 0.9% Assignment - sqm - 0.0% Premium - 159,725sqm - 18.9% Grade A - 521,847sqm - 61.9% Grade B - 144,213sqm - 17.1% Grade C - 10,429sqm - 1.2% Grade D - 7,440sqm - 0.9% Top 20 Recent Leases 1,000sq m+ 39,600 Precom Direct & Other 13,200 9,720 9,600 9,527 9,500 9,198 8,664 7,800 7,099 6,750 6,625 6,414 5,405 5,250 4,304 4,200 3,600 3,500 3,126 Suncorp, QLD WorkSafe Victoria, VIC AMP, VIC CBus Super, VIC HDY/NRF, NSW JB Hi-Fi Group, VIC Wood Group, WA Deutsche Bank, NSW Reece Group, VIC Downer EDI, QLD Aesop, VIC DXC Technologies, QLD Department of Veterans Affairs, QLD Newcrest Mining, VIC WeWork, VIC Fair Work Ombudsman, VIC Regus, NSW Telstra Super, VIC Built, NSW State Government of Victoria, Minister of Finance, VIC savills.com.au/research 7

New South Wales PCA OMR Statistics (Jun-18) Sydney CBD North Sydney Parramatta Macquarie Park AUS CBD Total Stock 5,036,168 810,430 719,619 869,034 17,907,541 Total Vacancy 232,151 50,993 22,872 47,334 1,539,867 Vacancy (%) 4.6 (7.3) 6.3 (8.7) 3.2 (7.3) 5.4 (8.9) 9.2 (9.2) Net Absorption (12m) 9,489 (27,754) -10,325 (2,851) 20,442 (9,736) 21,379 (19,635) 149,309 (170,353) Net Absorption (%) 0.2 (0.6) -1.3 (0.4) 3.0 (1.5) 2.7 (2.8) 0.9 (1.1) Stock Additions 82,627 2,148 26,136 8,935 269,072 Stock Withdrawals 144,817 14,214 12,849 13,594 364,875 Net Additions -62,190 (30,823) -12,066 (1,094) 13,287 (7,299) -4,659 (18,385) -91,750 (282,957) Net Additions (%) -1.2 (0.6) -1.5 (0.1) 1.9 (1.1) -0.5 (2.4) -0.5 (1.7) Source: PCA / Savills Research Note: 10yr Average shown in brackets Sydney CBD Key Indicators Sydney CBD Premium A Grade B Grade Low High Low High Low High Rental Gross Face ($/sq m) 1,265 1,665 1,160 1,330 1,000 1,150 Rental Net Face ($/sq m) 1,050 1,450 980 1,150 850 1,000 Incentive Level Gross 18 21 15 20 15 20 Rental Net Effective ($/sq m) 800 1,125 775 915 675 800 Outgoings Operating ($/sq m) 140 155 110 130 80 110 Outgoings Statutory ($/sq m) 55 75 50 65 45 60 Outgoings Total ($/sq m) 195 230 160 195 125 170 Typical Lease Term 8 10 5 10 5 7 Yield Market (% Net Face Rental) 4.38 4.75 4.50 5.00 4.50 5.25 IRR (%) 6.38 6.63 6.50 6.75 6.25 6.75 Cars Permanent Reserved ($/pcm) 990 1,080 900 1,070 720 790 Office Capital Values ($/sq m) 22,500 30,000 18,500 22,000 13,500 20,000 savills.com.au/research 8

North Shore Key Indicators North Shore North Sydney A Grade North Sydney B Grade Macquarie Park A Grade Low High Low High Low High Rental Gross Face ($/sq m) 915 1,040 805 905 435 535 Rental Net Face ($/sq m) 775 900 675 775 320 420 Incentive Level Net 20 25 20 30 25 30 Rental Net Effective ($/sq m) 600 700 505 580 230 305 Outgoings Operating ($/sq m) 90 110 80 100 65 85 Outgoings Statutory ($/sq m) 35 40 35 40 35 45 Outgoings Total ($/sq m) 125 150 115 140 100 130 Typical Lease Term 7 10 3 7 5 8 Yield Market (% Net Face Rental) 5.00 5.50 5.50 6.00 5.50 6.00 IRR (%) 6.63 7.00 7.00 7.50 6.75 7.25 Cars Permanent Reserved ($/pcm) 550 650 475 550 225 275 Cars Permanent ($/pcm) 500 550 400 500 0 0 Office Capital Values ($/sq m) 13,000 17,500 11,000 12,500 6,500 7,500 Parramatta Key Indicators Parramatta A Grade B Grade Low High Low High Rental Gross Face ($/sq m) 635 705 545 605 Rental Net Face ($/sq m) 510 580 425 485 Incentive Level Net 15 20 15 20 Rental Net Effective ($/sq m) 420 480 350 400 Outgoings Operating ($/sq m) 80 90 75 85 Outgoings Statutory ($/sq m) 35 45 35 45 Outgoings Total ($/sq m) 115 135 110 130 Typical Lease Term 5 10 3 7 Yield Market (% Net Face Rental) 5.25 5.75 5.75 6.50 IRR (%) 6.75 7.00 7.00 7.50 Cars Permanent Reserved ($/pcm) 270 320 225 275 Cars Permanent ($/pcm) 200 250 200 250 Office Capital Values ($/sq m) 9,500 11,000 7,000 9,000 savills.com.au/research 9

Top Recent Notable Sales Property Price ($m) Date NLA (sq m) Yield Type $/sq m 275 Kent St, Sydney (50%) 860.00 Jun-18 77,503 4.50 i 22,193 2 Market St, Sydney (50%) 300.00 Mar-18 40,178 n.a n.a 14,934 100 Miller St (Northpoint Tower), North Sydney (50%) 300.00 Jun-18 35,145 4.73 r 17,072 60 Station St, Parramatta 277.60 Aug-18 25,660 5.34 r 10,818 179 Elizabeth St, Sydney 265.00 May-18 16,520 5.14 e 16,041 55 Clarence St, Sydney 255.00 Apr-18 14,962 3.60 r 17,043 1 Sussex St, Sydney 250.00 Jul-18 10,000 n.a n.a 25,000 275 George St, Sydney 240.00 Aug-18 7,300 4.50 r 32,877 52 Goulburn St, Sydney (50%) 176.00 Mar-18 23,034 5.15 e 15,282 117 Clarence St, Sydney 153.00 Jun-18 12,517 5.22 e 12,223 187 Thomas St, Haymarket 145.80 Apr-18 23,275 2.99 i 6,264 77 Pacific Hwy, North Sydney 112.35 May-18 9,392 n.a n.a 11,962 Piers 8/9 23 Hickson Rd, Sydney 90.50 Jun-18 8,523 6.11 e 10,618 60 Pitt St, Sydney 82.17 Aug-18 4,132 n.a n.a 19,884 80 Mount St, North Sydney 71.00 Sep-18 6,204 4.32 i 11,444 Yield Types: i = Initial, r = Reported, e = Equated, v = Vacant, dev = development; * Includes >$30 m in compensation beyond market value. Top Recent Notable Leases Property Tenant Date NLA (sq m) Type Rent Term 72 Christie St, St Leonards Mastercard May-18 12,000 Direct n.a 10 10 Carrington St, Sydney Allianz Jul-18 10,820 Precommit n.a 10 1 Sussex St, Sydney WeWork Jul-18 10,000 Precommit n.a n.a. 60 Martin Pl, Sydney HDY/NRF Aug-18 9,527 Precommit 1,250 (G) 10 126 Phillip St, Sydney Deutsche Bank Sep-18 8,664 Renewal n.a 8 60 Union St, Pyrmont The Star Entertainment Group Dec-17 6,617 Direct 864 (G) 11 60 Miller St, North Sydney Flight Centre Mar-18 6,600 Direct 830 (G) 8 50 Miller St, North Sydney US Consulate General Sydney May-18 6,000 Direct n.a 12 1 Denison St, North Sydney SAP Jun-18 5,706 Precommit 750 (N) 10 101 Miller St, North Sydney Allianz Australia Services Feb-18 5,654 Direct 746 (N) 5 383 George St, Sydney WeWork Mar-18 5,211 Direct 965 (N) 12 183-185 Clarence St, Sydney Built Sep-18 3,500 Precommit 1,115 (G) n.a. 220 George St, Sydney Poly Group Sep-18 2,500 Precommit 1,450 (G) 8 60 Martin Pl, Sydney Banco Chambers Aug-18 2,500 Precommit 1,400 (G) 10 255 Pitt St, Sydney hipages Group Sep-17 3,788 Direct 913 (G) 6 Leasing Types: p = Pre-commitment, d = Direct, s = Sub-Lease, r = Renewal savills.com.au/research 10

Victoria PCA OMR Statistics (Jun-18) Melbourne CBD St Kilda Rd Southbank East Melbourne AUS CBD Total Stock 4,541,855 654,648 421,930 177,461 17,907,541 Total Vacancy 162,652 48,723 25,890 5,463 1,539,867 Vacancy (%) 3.6 (6.6) 7.4 (10.6) 6.1 (6.9) 3.1 (2.9) 9.2 (9.2) Net Absorption (12m) 122,144 (72,407) 13,869 (-9,958) 4,687 (2,896) 400 (-109) 149,309 (170,353) Net Absorption (%) 2.9 (1.8) 2.3 (-1.5) 1.2 (0.8) 0.2 (-0.1) 0.9 (1.1) Stock Additions 81,755 9,346 42,719-269,072 Stock Withdrawals 64,498 21,979 25,531-364,875 Net Additions 17,257 (77,351) -12,633 (-10,135) 17,188 (4,675) (-82) -91,750 (282,957) Net Additions (%) 0.4 (1.9) -1.9 (-1.4) 4.2 (1.2) 0.0 (0.0) -0.5 (1.7) Source: PCA / Savills Research Note: 10yr Average shown in brackets Melbourne CBD Key Indicators Melbourne CBD (City Core) Premium A Grade B Grade Low High Low High Low High Rental Gross Face ($/sq m) 750 1,020 685 805 550 625 Rental Net Face ($/sq m) 560 830 520 640 410 485 Incentive Level (Net) 20 27 24 28 22 26 Rental Net Effective ($/sq m) 430 635 385 475 310 370 Outgoings Operating ($/sq m) 115 135 100 110 85 109 Outgoings Statutory ($/sq m) 60 70 55 60 37 47 Outgoings Total ($/sq m) 175 205 155 170 122 156 Typical Lease Term 6 10 5 8 3 7 Yield Market (% Net Face Rental) 4.75 5.05 4.95 5.40 5.00 5.70 IRR (%) 6.50 6.85 6.50 7.00 6.75 7.25 Cars Permanent Reserved ($/pcm) 550 800 500 700 450 600 Cars Permanent ($/pcm) 450 600 450 600 420 500 Office Capital Values ($/sq m) 10,000 15,000 8,000 12,000 7,000 10,000 savills.com.au/research 11

Melbourne St Kilda Rd Key Indicators Melbourne St Kilda Rd A Grade B Grade Low High Low High Rental Gross Face ($/sq m) 510 595 455 515 Rental Net Face ($/sq m) 390 475 340 400 Incentive Level (Net) 16 21 15 22 Rental Net Effective ($/sq m) 320 385 275 325 Outgoings Operating ($/sq m) 65 75 60 70 Outgoings Statutory ($/sq m) 50 50 45 50 Outgoings Total ($/sq m) 115 125 105 120 Typical Lease Term 3 6 3 5 Yield Market (% Net Face Rental) 5.75 6.00 6.00 6.25 IRR (%) 6.75 7.00 7.00 7.25 Cars Permanent Reserved ($/pcm) 300 330 280 320 Office Capital Values ($/sq m) 5,500 8,000 5,000 6,000 Melbourne Suburban Key Indicators Melbourne Suburban A Grade B Grade Low High Low High Rental Gross Face ($/sq m) 480 530 375 420 Rental Net Face ($/sq m) 375 425 275 320 Incentive Level (Net) 15 19 15 20 Rental Net Effective ($/sq m) 310 355 225 265 Outgoings Operating ($/sq m) 50 70 50 60 Outgoings Statutory ($/sq m) 35 55 40 45 Outgoings Total ($/sq m) 85 125 90 105 Typical Lease Term 4 8 3 5 Yield Market (% Net Face Rental) 6.10 6.90 6.30 6.80 IRR (%) 7.00 7.50 7.00 7.50 Cars Permanent Reserved ($/pcm) 185 215 150 190 Office Capital Values ($/sq m) 6,100 7,600 4,500 5,500 savills.com.au/research 12

Top Recent Notable Sales Property Price ($m) Date NLA (sq m) Yield Type $/sq m 697 Collins St (Two Melbourne Quarter), Docklands 550.00 Mar-18 46,349 n.a n.a 11,866 60 Collins St, Melbourne 160.00 Sep-18 13,817 n.a n.a 11,580 383 La Trobe St, Melbourne 122.00 Sep-18 10,200 5.70 i 11,961 637 Flinders St (World Trade Centre), Docklands 122.00 Feb-18 23,049 7.00 r 5,293 699 Bourke St, Docklands (50.0%) 102.00 Apr-18 18,644 n.a n.a 10,942 160 Harbour Esplanade, Docklands 100.00 Jun-18 7,980 5.30 r 12,531 Cnr Sturt St & Southbank Blvd, Southbank 95.38 Feb-18 11,679 n.a n.a 8,167 464 St Kilda Rd, Melbourne 95.38 Apr-18 13,827 5.16 r 6,898 277 William St, Melbourne 93.88 Jul-18 12,080 5.70 i 7,772 601 Bourke St, Melbourne 70.10 May-18 8,082 4.93 r 8,674 52 Collins St, Melbourne 70.00 Sep-18 3,454 n.a n.a 20,266 10 Queens Rd, Melbourne 60.00 Jun-18 9,004 5.00 r 6,664 600 Church St, Cremorne 50.00 Jun-18 5,667 n.a n.a 8,823 105 York St, South Melbourne 49.00 Sep-18 5,105 5.10 r 9,598 Yield Types: i = Initial, r = Reported, e = Equated, v = Vacant, dev = development Top Recent Notable Leases Property Tenant Date NLA (sq m) Type Rent Term 697 Collins St, Docklands Energy Australia Mar-18 22,000 Precommit n.a n.a. 1 Malop St, Geelong WorkSafe Victoria Sep-18 13,200 Direct 480 (N) 15 695 Collins St, Docklands AMP Sep-18 9,720 Precommit n.a n.a. 130 Lonsdale St, Melbourne CBus Super Sep-18 9,600 Precommit n.a 12 1-3 Southgate Ave, Southbank JB Hi-Fi Group Sep-18 9,500 Direct n.a n.a. 17-21 Harcourt Pde, Cremorne MYOB Mar-18 8,800 Precommit 500 (N) 10 57-61 Balmain St, Cremorne Reece Group Sep-18 7,800 Precommit n.a n.a. 658 Church St, Cremorne Starbucks, 7-Eleven & Withers Group Jul-18 7,400 Direct n.a n.a. 2-16 Northumberland St, Collingwood Aesop Sep-18 6,750 Precommit n.a n.a. 2 Southbank Blvd, Southbank Carlton & United Breweries Feb-18 6,500 Direct 800 (G) 10 161 Collins St, Melbourne Treasury Wine Estates Jul-18 6,000 Direct n.a n.a. 600 St Kilda Rd, Melbourne Newcrest Mining Jul-18 5,405 Renewal 355 (N) 5 222 Exhibition St, Melbourne WeWork Aug-18 5,250 Direct 520 (N) 12 414 La Trobe St, Melbourne Fair Work Ombudsman Jul-18 4,304 Renewal 460 (G) 10 600 Glenferrie Rd, Hawthorn United Petroleum Mar-18 3,800 Direct n.a n.a. Leasing Types: p = Pre-commitment, d = Direct, s = Sub-Lease, r = Renewal savills.com.au/research 13

Queensland PCA OMR Statistics (Jun-18) Brisbane CBD Brisbane Fringe Gold Coast Sunshine Coast AUS CBD Total Stock 2,243,323 1,188,566 469,561 171,383 17,907,541 Total Vacancy 328,463 172,436 56,520 25,686 1,539,867 Vacancy (%) 14.6 (12.3) 14.5 (11.5) 12.0 (17.5) 15.0 (12.5) 9.2 (9.2) Net Absorption (12m) -6,124 (13,231) -30,197 (14,623) -2,623 (5,075) 7,139 (4,654) 149,309 (170,353) Net Absorption (%) -0.3 (0.7) -2.9 (1.6) -0.6 (1.3) 5.2 (3.9) 0.9 (1.1) Stock Additions 18,303 24,815 3,713 22,776 269,072 Stock Withdrawals 54,705 55,891 2,800 234 364,875 Net Additions -36,402 (43,783) -31,076 (29,049) 913 (7,554) 22,542 (6,486) -91,750 (282,957) Net Additions (%) -1.6 (2.2) -2.5 (2.8) 0.2 (1.8) 15.1 (4.9) -0.5 (1.7) Source: PCA / Savills Research Note: 10yr Average shown in brackets Brisbane Key Indicators Brisbane CBD Premium A Grade B Grade Low High Low High Low High Rental Gross Face ($/sq m) 800 905 625 750 545 605 Rental Net Face ($/sq m) 635 740 475 600 400 460 Incentive Level Gross 30 38 32 40 40 45 Rental Net Effective ($/sq m) 365 430 250 330 170 205 Outgoings Operating ($/sq m) 70 125 70 100 75 90 Outgoings Statutory ($/sq m) 60 70 55 75 50 75 Outgoings Total ($/sq m) 130 195 125 175 125 165 Typical Lease Term 7 10 3 10 3 8 Yield Market (% Net Face Rental) 5.00 6.00 5.75 6.25 6.50 7.50 IRR (%) 6.75 7.25 6.75 7.25 7.25 7.75 Cars Permanent Reserved ($/pcm) 500 850 450 650 350 550 Cars Permanent ($/pcm) 450 650 400 550 300 500 Office Capital Values ($/sq m) 11,500 14,000 8,000 11,500 5,500 7,750 savills.com.au/research 14

Brisbane Fringe Key Indicators Brisbane Fringe A Grade B Grade Low High Low High Rental Gross Face ($/sq m) 525 625 400 495 Rental Net Face ($/sq m) 393 493 273 368 Incentive Level Gross 35 40 35 45 Rental Net Effective ($/sq m) 195 260 115 170 Outgoings Operating ($/sq m) 75 110 75 100 Outgoings Statutory ($/sq m) 30 50 30 50 Outgoings Total ($/sq m) 105 160 105 150 Typical Lease Term 3 10 3 7 Yield Market (% Net Face Rental) 5.75 6.75 7.00 8.25 IRR (%) 7.25 8.00 8.00 8.75 Cars Permanent Reserved ($/pcm) 250 395 180 300 Cars Permanent ($/pcm) 275 385 na na Office Capital Values ($/sq m) 6,000 11,000 3,500 7,000 Gold Coast/Sunshine Coast Key Indicators Gold Coast/Sunshine Coast Gold Coast Sunshine Coast Low High Low High Rental Gross Face ($/sq m) 400 500 335 455 Rental Net Face ($/sq m) 300 400 270 390 Incentive Level Gross 15 32 15 20 Rental Net Effective ($/sq m) 205 285 210 310 Outgoings Operating ($/sq m) 45 65 40 50 Outgoings Statutory ($/sq m) 35 55 10 30 Outgoings Total ($/sq m) 80 120 50 80 Typical Lease Term 3 8 2 5 Yield Market (% Net Face Rental) 7.50 8.75 7.00 8.25 IRR (%) 9.00 10.00 9.50 10.00 Cars Permanent Reserved ($/pcm) 120 180 na na Office Capital Values ($/sq m) 3,500 6,000 3,000 5,000 savills.com.au/research 15

Top Recent Notable Sales Property Price ($m) Date NLA (sq m) Yield Type $/sq m 80 Ann St, Brisbane (50%) 418.00 Jul-18 73,638 5.25 i 11,353 32 Turbot St, Brisbane 370.00 Dec-17 34,396 5.66 e 10,757 53 Albert St, Brisbane 252.28 Jun-18 19,059 5.65 e 13,237 2 King St (Kingsgate), Fortitude Valley 170.00 Sep-18 16,341 5.69 e 10,403 127 Creek St, Brisbane 129.13 May-18 18,303 6.59 e 7,055 343 Albert St / 143 Turbot St, Brisbane 110.00 Jul-18 19,873 6.77 e 5,535 108 Wickham St, Fortitude Valley 106.23 Dec-17 11,913 6.59 i 8,917 260 Queen St, Brisbane 95.25 Aug-18 12,934 6.40 e 7,364 40 Tank St, Brisbane 93.00 Aug-18 6,218 5.93 e 14,957 199 Grey St, South Brisbane 92.60 Oct-17 12,025 7.11 e 7,701 88 Musk Ave, Kelvin Grove 84.00 Mar-18 14,144 7.04 e 5,939 31 Duncan St, Fortitude Valley 64.00 Nov-17 4,160 6.58 i 15,385 100 Edward St, Brisbane 64.00 Jul-18 7,120 5.50 i 8,989 180 Queen St, Brisbane 53.95 Oct-17 3,529 5.64 i 15,288 Yield Types: i = Initial, r = Reported, e = Equated, v = Vacant, dev = development; * Allocated Cap Rate from RCA; **Net; ***8.24% - fully leased net Top Recent Notable Leases Property Tenant Date NLA (sq m) Type Rent Term 80 Ann St, Brisbane Suncorp Jul-18 39,600 Precommit 850 (G) 10 310 Ann St, Brisbane Allianz May-18 7,994 Direct 685 (G) 10 135 Coronation Drv, Milton Downer EDI Aug-18 7,099 Direct 588 (G) 8 310 Ann St, Brisbane State Government May-18 6,862 Direct 645 (G) 10 123 Eagle St, Brisbane Westpac Jun-18 6,643 Direct 775 (G) 10 100 Brookes St, Fortitude Valley DXC Technologies Aug-18 6,625 Direct 600 (G) 7 480 Queen St, Brisbane Department of Veterans Affairs Jul-18 6,414 Direct 825 (G) 10 179 Turbot St, Brisbane Bupa Jul-18 6,336 Renewal 659 (G) 5 200 Adelaide St, Brisbane Hub Australia Apr-18 3,538 Direct 575 (G) 10 100 Brookes St, Fortitude Valley Aurizon Apr-18 3,491 Direct 600 (G) 5 180 Ann St, Brisbane AMP Mar-18 3,344 Direct 695 (G) 10 180 Ann St, Brisbane Senex Energy Jul-18 3,000 Direct 696 (G) 7 515 St Pauls Tce, Fortitude Valley SunWater Jul-18 3,000 Direct 570 (G) 10 60 Gloucester St, Spring Hill Charlton Brown Mar-18 2,481 Direct 350 (N) 5 Leasing Types: p = Pre-commitment, d = Direct, s = Sub-Lease, r = Renewal savills.com.au/research 16

Western Australia PCA OMR Statistics (Jun-18) Perth CBD West Perth AUS CBD Total Stock 1,769,065 423,920 17,907,541 Total Vacancy 342,346 67,149 1,539,867 Vacancy (%) 19.4 (12.1) 15.8 (9.2) 9.2 (9.2) Net Absorption (12m) 30,759 (14,196) -3,559 (-1,459) 149,309 (170,353) Net Absorption (%) 2.2 (1.1) -1.0 (-0.4) 0.9 (1.1) Stock Additions 1,408 4,803 269,072 Stock Withdrawals 1,300 4,944 364,875 Net Additions 108 (48,056) -141 (5,256) -91,750 (282,957) Net Additions (%) 0.0 (3.2) 0.0 (1.3) -0.5 (1.7) Source: PCA / Savills Research Note: 10yr Average shown in brackets Perth CBD Key Indicators Perth CBD Premium A Grade B Grade Low High Low High Low High Rental Gross Face ($/sq m) 775 900 640 815 410 635 Rental Net Face ($/sq m) 600 725 475 650 250 475 Incentive Level Net 45 48 45 53 50 55 Rental Net Effective ($/sq m) 320 390 245 335 120 225 Outgoings Operating ($/sq m) 115 125 95 120 95 110 Outgoings Statutory ($/sq m) 50 60 50 60 50 60 Outgoings Total ($/sq m) 165 185 145 180 145 170 Typical Lease Term 5 10 5 7 3 5 Yield Market (% Net Face Rental) 5.75 7.00 6.50 7.50 7.50 8.75 IRR (%) 6.75 7.50 7.00 8.00 7.50 8.50 Cars Permanent Reserved ($/pcm) 675 750 625 725 475 625 Cars Permanent ($/pcm) 675 750 625 725 475 625 Office Capital Values ($/sq m) 8,500 12,500 7,000 9,000 4,750 6,500 savills.com.au/research 17

West Perth Key Indicators West Perth A Grade B Grade Low High Low High Rental Gross Face ($/sq m) 450 550 365 415 Rental Net Face ($/sq m) 275 375 225 275 Incentive Level Net 40 50 40 50 Rental Net Effective ($/sq m) 150 205 125 150 Outgoings Operating ($/sq m) 80 90 50 55 Outgoings Statutory ($/sq m) 75 100 75 100 Outgoings Total ($/sq m) 155 190 125 155 Typical Lease Term 3 5 3 5 Yield Market (% Net Face Rental) 7.00 8.00 8.25 9.25 IRR (%) 7.75 8.25 7.75 9.25 Cars Permanent Reserved ($/pcm) 325 350 300 325 Cars Permanent ($/pcm) 325 350 300 325 Office Capital Values ($/sq m) 2,950 5,300 2,400 3,300 savills.com.au/research 18

Top Recent Notable Sales Property Price ($m) Date NLA (sq m) Yield Type $/sq m 141 St Georges Tce, Perth 216.25 Oct-17 32,635 7.27 e 6,626 202 Pier St, Perth 125.25 Jun-18 15,602 7.04 e 8,028 836 Wellington St, West Perth 91.33 Jun-18 11,973 6.19 e 7,628 45 St Georges Tce, Perth 57.00 Nov-17 10,010 7.63 e 5,694 55 St Georges Tce, Perth 43.50 Feb-18 8,329 n.a n.a 5,306 6-8 Bennett St, Perth 43.50 Jan-18 10,211 8.15 e 4,260 1 Havelock St, West Perth 33.00 Sep-18 5,121 7.00 e 6,444 441 Murray St, Perth 22.00 Apr-18 5,849 7.44 e 3,761 182 St Georges Tce, Perth 21.10 Feb-18 5,414 8.02 e 3,897 1 Essex St, Fremantle 12.00 Jul-18 3,872 n.a n.a 3,099 105 St Georges Tce, Perth 11.00 Nov-17 3,826 8.36 e 2,875 18-22 Bowman St, South Perth 9.90 Nov-17 1,387 n.a n.a 7,138 87 Colin St, West Perth 8.50 Jun-18 2,746 n.a n.a 3,095 125-129 Murray St, Perth 8.10 May-18 6,325 n.a n.a 1,281 1874 Pinjarra Rd, Pinjarra 6.80 Jan-18 1,679 10.30 r 4,050 Yield Types: i = Initial, r = Reported, e = Equated, v = Vacant, dev = development; * part of a portfolio sale Top Recent Notable Leases Property Tenant Date NLA (sq m) Type Rent Term 240 St Georges Tce, Perth Wood Group Aug-18 9,198 Direct n.a n.a. 226 Adelaide Tce, Perth Dept of Human Services Aug-18 4,542 Direct n.a 3 240 St Georges Tce, Perth CBH Group Apr-18 3,790 Direct n.a n.a. 77 St Georges Tce, Perth Minter Ellison Jun-18 3,440 Renewal 565 5 556 Wellington St, Perth P&N Bank May-18 3,249 Direct n.a 10 240 St Georges Tce, Perth Iluka Resources May-18 3,238 Direct n.a n.a. 1100 Hay St, West Perth MSP Engineering Sep-18 2,568 Renewal n.a n.a. 556 Wellington St, Perth BG & E May-18 2,444 Direct n.a 10 15-17 William St, Perth Virtual Gaming Worlds Feb-18 2,129 Direct n.a 7 256 Adelaide Tce, Perth Minnovo Feb-18 2,033 Direct 300 (Net 5 34-50 Stirling St, Perth Fortix Mar-18 1,983 Direct 275 (Net) 5 2 Kings Park Rd, West Perth Western Areas Mar-18 1,440 Renewal n.a 4 18 Mount St, Perth WorleyParsons May-18 1,394 Direct n.a n.a. 141 St Georges Tce, Perth Hartleys Aug-18 1,379 Renewal n.a 8 197 St Georges Tce, Perth Liberty Apr-18 1,200 Direct n.a n.a. Leasing Types: p = Pre-commitment, d = Direct, s = Sub-Lease, r = Renewal savills.com.au/research 19

South Australia PCA OMR Statistics (Jun-18) Adelaide CBD Adelaide Fringe AUS CBD Total Stock 1,424,453 217,212 17,907,541 Total Vacancy 210,004 23,934 1,539,867 Vacancy (%) 14.7 (11.1) 11.0 (7.8) 9.2 (9.2) Net Absorption (12m) 19,811 (5,370) -783 (184) 149,309 (170,353) Net Absorption (%) 1.7 (0.5) -0.4 (0.1) 0.9 (1.1) Stock Additions 3,505 2,212 269,072 Stock Withdrawals 3,485 850 364,875 Net Additions 20 (21,627) 1,362 (2,108) -91,750 (282,957) Net Additions (%) 0.0 (1.7) 0.6 (1.0) -0.5 (1.7) Source: PCA / Savills Research Note: 10yr Average shown in brackets Adelaide CBD Key Indicators Adelaide CBD Premium A Grade B Grade Low High Low High Low High Rental Gross Face ($/sq m) 520 590 445 530 355 435 Rental Net Face ($/sq m) 405 475 330 410 265 335 Incentive Level (Gross) 25 35 28 38 30 40 Rental Net Effective ($/sq m) 250 300 185 235 140 185 Outgoings Operating ($/sq m) 65 75 55 70 40 55 Outgoings Statutory ($/sq m) 40 50 40 45 40 45 Outgoings Total ($/sq m) 105 125 95 115 80 100 Typical Lease Term 7 10 5 10 3 7 Yield Market (% Net Face Rental) 6.00 7.25 6.75 7.75 8.00 9.25 IRR (%) 7.25 7.75 7.75 8.75 8.50 9.75 Cars Permanent Reserved ($/pcm) 380 450 350 410 300 350 Cars Permanent ($/pcm) 370 450 350 400 300 350 Office Capital Values ($/sq m) 5,250 7,750 4,125 5,850 2,500 4,000 savills.com.au/research 20

Adelaide Fringe Key Indicators Adelaide Fringe A Grade B Grade Low High Low High Rental Gross Face ($/sq m) 400 425 335 380 Rental Net Face ($/sq m) 330 355 270 300 Incentive Level Net 20 30 20 35 Rental Net Effective ($/sq m) 250 265 195 220 Outgoings Operating ($/sq m) 40 50 25 45 Outgoings Statutory ($/sq m) 20 30 25 35 Outgoings Total ($/sq m) 60 80 50 80 Typical Lease Term 5 7 3 5 Yield Market (% Net Face Rental) 7.25 7.75 7.75 8.75 IRR (%) 8.00 9.25 9.25 10.50 Cars Permanent Reserved ($/pcm) 90 120 80 100 Cars Permanent ($/pcm) 90 120 80 100 Office Capital Values ($/sq m) 4,125 4,725 3,000 3,750 savills.com.au/research 21

Top Recent Notable Sales Property Price ($m) Date NLA (sq m) Yield Type $/sq m 11 Waymouth St, Adelaide 202.50 Dec-17 30,997 6.57 e 6,533 80 Grenfell St, Adelaide 184.60 May-18 22,691 6.25 e 8,135 12-26 Franklin St, Adelaide (50.0%) 135.00 Aug-18 37,316 5.79 r 7,236 60 Flinders St, Adelaide 101.35 Aug-18 15,731 7.40 i 6,443 196 O G Road, Felixstow 35.00 Mar-18 6,288 7.31 e 5,566 60 Light Sq, Adelaide 35.00 May-18 6,644 6.77 e 5,268 27-39 Currie St, Adelaide 26.00 Jun-18 14,062 3.85 r 1,849 25 Conyngham St, Glenside 16.00 Jul-18 3,200 n.a n.a 5,000 18 Chapel St, Norwood 15.00 Feb-18 383 n.a VP 39,164 51 Pirie St, Adelaide 14.50 Jul-18 4,252 n.a n.a 3,410 17-19 Fullarton Rd, Kent Town 11.00 Jul-18 2,563 n.a n.a 4,292 32-38 Gawler St, Salisbury 9.50 Oct-17 2,200 6.95 r 4,318 9-11 Dequetteville Tce, Kent Town 6.00 Oct-17 2,207 n.a VP 2,719 98A-100 Woodville Rd, Woodville 5.10 Jun-18 9,600 (site) n.a dev n.a. Yield Types: i = Initial, r = Reported, e = Equated, v = Vacant, dev = development; * part of a portfolio sale Top Recent Notable Leases Property Tenant Date NLA (sq m) Type Rent Term 141 King William St, Adelaide BHP Apr-18 10,056 Precommit n.a 10 1 King William St, Adelaide Suncorp May-18 4,660 Direct n.a 7 115 Sherriff St, Underdale Downer EDI Works Apr-18 3,103 Renewal n.a 5 19-21 Gouger St, Adelaide Thomson Geer Lawyers Nov-17 3,000 Renewal n.a 10 63 Pirie St, Adelaide Cowell Clarke Jun-18 2,260 Direct n.a n.a. 25 Grenfell St, Adelaide Heathgate Resources Mar-18 1,700 Renewal n.a n.a. 118 Franklin St, Adelaide Datacom Mar-18 1,531 Direct n.a 5 11-29 Waymouth St, Adelaide Undisclosed Sep-18 1,452 Direct n.a n.a. 162-163 Greenhill Rd, Parkside Metricon Sep-18 1,400 Direct n.a n.a. 1 James Schofield Dr, Adelaide Airport Oz Minerals Oct-17 1,200 Direct n.a 10 91 King William St, Adelaide Attorney-General's Department of SA Jan-18 1,118 Direct 550 (G) 10 80 Flinders St, Adelaide Inabox Group Jan-18 1,072 Direct 532 (G) 7 44 Pirie St, Adelaide Game Plus Dec-17 1,067 Direct 295 (G) 8 170 Frome St, Adelaide AllScripts Mar-18 1,000 Direct n.a 7 Leasing Types: p = Pre-commitment, d = Direct, s = Sub-Lease, r = Renewal savills.com.au/research 22

Australian Capital Territory PCA OMR Statistics (Jun-18) Canberra AUS CBD Total Stock 2,321,402 17,907,541 Total Vacancy 289,221 1,539,867 Vacancy (%) 12.5 (12.1) 9.2 (9.2) Net Absorption (12m) -29,107 (21,124) 149,309 (170,353) Net Absorption (%) -1.4 (1.1) 0.9 (1.1) Stock Additions 66,474 269,072 Stock Withdrawals 77,636 364,875 Net Additions -11,162 (38,204) -91,750 (282,957) Net Additions (%) -0.5 (1.8) -0.5 (1.7) Source: PCA / Savills Research Note: 10yr Average shown in brackets Canberra Civic Key Indicators Canberra Civic A Grade B Grade Low High Low High Rental Gross Face ($/sq m) 440 500 400 435 Rental Net Face ($/sq m) 340 400 300 335 Incentive Level Net 10 25 18 30 Rental Net Effective ($/sq m) 265 315 205 230 Outgoings Operating ($/sq m) 55 70 60 70 Outgoings Statutory ($/sq m) 30 40 30 40 Outgoings Total ($/sq m) 85 110 90 110 Typical Lease Term 5 15 3 10 Yield Market (% Net Face Rental) 5.50 7.00 7.25 10.00 IRR (%) 7.25 8.50 9.25 10.75 Cars Permanent Reserved ($/pcm) 320 385 320 385 Office Capital Values ($/sq m) 6,000 8,500 4,000 5,500 savills.com.au/research 23

Canberra Non-Civic Key Indicators Canberra Non-Civic A Grade B Grade Low High Low High Rental Gross Face ($/sq m) 440 500 400 435 Rental Net Face ($/sq m) 340 400 300 335 Incentive Level Net 10 25 18 30 Rental Net Effective ($/sq m) 265 315 205 230 Outgoings Operating ($/sq m) 55 70 60 70 Outgoings Statutory ($/sq m) 30 40 30 40 Outgoings Total ($/sq m) 85 110 90 110 Typical Lease Term 5 15 3 10 Yield Market (% Net Face Rental) 5.50 7.00 7.25 10.00 IRR (%) 7.25 8.50 9.25 10.75 Cars Permanent Reserved ($/pcm) 320 385 320 385 Office Capital Values ($/sq m) 6,000 8,500 4,000 5,500 Top Recent Notable Sales Property Price Date NLA Yield Type $/sq m 14 Childers St, Canberra 92.15 Dec-17 15,150 6.90 e 6,083 44 Sydney Ave, Forrest 58.60 Nov-17 9,948 6.38 e 5,891 14 Mort St, Canberra 55.00 Jun-18 9,384 6.31 i 5,861 6 National Cct, Barton 37.50 Feb-18 6,171 6.87 e 6,077 40 Cameron Ave, Belconnen 23.90 Jul-18 14,900 n.a n.a 1,604 Queen Victoria Ter, Parkes 15.45 Jan-18 4,958 n.a n.a 3,116 Yield Types: i = Initial, r = Reported, e = Equated, v = Vacant, dev = development; * Includes $10m in unpaid incentives savills.com.au/research 24

Savills insite Property Insights... Anywhere, Anytime Sales Data Leasing Data Economic Metrics Developments Excel Data Files Reports Database Geo-Mapping Charting Functionality PowerPoint Slides News Summaries $187 billion of office sales recorded $79 billion of industrial sales recorded $98 billion of retail sales recorded 12,549 of office leases recorded 9,699 of industrial leases recorded 901 economic data series 4,318 categorised news summaries The Website Designed and coded by research for application across each stage of the property process, the system covers the full spectrum; allowing users to access detailed sales, leasing and development data or download full Excel data files and hundreds of modifiable PowerPoint slides across any device. All data sourced in this document, and significantly more, is accessible to registered clients via Savills dedicated research portal: savills-insite.com.au savills.com.au/research 25

Savills Australian Capital Territory Research Shrabastee Mallik +61 (0) 2 8215 8880 smallik@savills.com.au Savills New South Wales Research Shrabastee Mallik +61 (0) 2 8215 8880 smallik@savills.com.au Metro & Regional Sales Robert Lowe +61 (0) 2 8215 8841 rlowe@savills.com.au Valuations Phil Harding +61 (0) 2 6221 8293 pharding@savills.com.au Occupier Services Javan Matheson +61 (0) 2 8215 8825 matheson@savills.com.au Office Leasing Rob Dickins +61 (0) 2 8215 8833 rdickins@savills.com.au Capital Transactions Andrew Stewart +61 (0) 2 6221 8295 astewart@savills.com.au Valuations Andrew Pannifex +61 (0) 2 8215 6006 apannifex@savills.com.au Asset Management Howard Chapman +61 (0) 2 8686 8870 hchapman@savills.com.au Leasing Pip Doogan +61 (0) 2 6221 8291 pdoogan@savills.com.au Capital Transactions Ian Hetherington +61 (0) 2 8215 8925 ihetherington@savills.com.au Project Management Gavin Boswarva +61 (0) 2 8215 8935 gboswarva@savills.com.au Savills Queensland Research Shrabastee Mallik +61 (0) 2 8215 8880 smallik@savills.com.au Valuations Brett Schultz +61 (0) 7 3002 8855 bschultz@savills.com.au Capital Transactions Anthony Ott +61 (0) 7 3002 8904 aott@savills.com.au Office Leasing John McDonald +61 (0) 7 3002 8847 jmcdonald@savills.com.au Sunshine Coast Scott Gardiner +61 (0) 7 5313 7514 sgardiner@savills.com.au Gold Coast Kevin Carmody +61 (0) 7 5509 1700 kevin@savillsgc.com.au Asset Management Shannon Ormond +61 (0) 7 3002 8831 sormond@savills.com.au Project Management Ken Ng +61 (0) 7 3018 6705 kng@savills.com.au Savills South Australia Research Katy Dean +61 (0) 2 8215 6011 kdean@savills.com.au Valuations Heath Dowling +61 (0) 8 8237 5039 hdowling@savills.com.au Capital Transactions Peter Isaksson +61 (0) 8 8237 5020 pisaksson@savills.com.au City & Metropolitan Sales Steve Bobridge +61 (0) 8 8237 5015 sbobridge@savills.com.au Office Leasing Adam Hartley +61 (0) 8 8237 5043 ahartley@savills.com.au Asset Management Jeffrey Klaebe +61 (0) 8 8237 5018 jklaebe@savills.com.au Project Management Steve Christodoulou +61 (0) 8 8237 5004 schristodoulou@savills.com.au Occupier Services Mark Smith +61 (0) 8 488 4131 msmith@savills.com.au Savills Victoria Research Katy Dean +61 (0) 2 8215 6011 kdean@savills.com.au Valuations Ben Koops +61 (0) 3 8686 8071 bkoops@savills.com.au Capital Transactions James Girvan +61 (0) 3 8686 8025 jgirvan@savills.com.au CBD & Metropolitan Sales Clinton Baxter +61 (0) 3 8686 8021 cbaxter@savills.com.au Asset Management Sarah Hendry +61 (0) 2 8686 8094 shendry@savills.com.au Project Management David Hayden +61 (0) 3 9445 6806 dhayden@savills.com.au Office Leasing Mark Rasmussen +61 (0) 3 8686 8010 mrasmussen@savills.com.au Occupier Services Marcus Tanti +61 (0) 3 8686 8008 mtanti@savills.com.au Savills Western Australia Research Katy Dean +61 (0) 2 8215 6011 kdean@savills.com.au Office Leasing Shelley Ritter +61 (0) 8 9488 4187 sritter@savills.com.au Valuations Mark Foster-Key +61 (0) 8 9488 4145 mfosterkey@savills.com.au Asset Management Jason Ridge +61 (0) 8 9488 4118 jridge@savills.com.au Capital Transactions Graham Postma +61 (0) 8 9488 4153 gpostma@savills.com.au Project Management Graham Nash +61 (0) 8 6271 0306 gnash@savills.com.au City & Metropolitan Sales Chas Moore +61 (0) 8 9488 4155 cmoore@savills.com.au Occupier Services Mark Smith +61 (0) 8 488 4131 msmith@savills.com.au savills.com.au/research 26