Letter from the Chairman and CEO & Managing Director

Dear Securityholders,
The 2017 financial year was a fantastic year for Mirvac, and our ambition to reimagine urban life by creating, owning and managing high-quality assets in Australia’s largest cities has delivered strong results across the Group, positioning us well for the future.

Our strategy

The quality of our projects and their locations, our brand, our experience, our end-to-end service and the certainty you get with Mirvac is what sets us apart.

Focused

Deploying capital with discipline
and delivering on our promises,
with a strong focus on our customers.

Diversified

Maintaining an appropriate balance of passive and active invested capital through cycles, and retaining capability across the office and industrial, retail and residential sectors.

Integrated

Leveraging our integrated model
to create, own and manage
quality Australian assets.

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Operating and Financial Review

Mirvac’s urban strategy and a strong focus on capital management delivered growth in FY17, and has ensured the Group is well placed for the year ahead.

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Office and Industrial

Mirvac’s Office & Industrial portfolio continues to focus on key urban markets providing secure, recurring income to the Group.

$319m

OFFICE & INDUSTRIAL
EARNINGS BEFORE INTEREST AND TAX

95%

PORTFOLIO IS PRIME
OR A-GRADE OFFICE ASSETS

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Retail

The Group’s Retail division continues to focus on densley populated urban catchment areas, with an overweight to the strong performing Sydney market.

$156m

RETAIL EARNINGS
BEFORE INTEREST AND TAX

99.4%

MAINTAINED HIGH
OCCUPANCY

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Residential

Mirvac’s Residential business is founded on a reputation for delivering superior product in Australia’s key cities of Sydney, Melbourne, Brisbane and Perth.

$302m

RESIDENTIAL EARNINGS
BEFORE INTEREST AND TAX

18%

RESIDENTIAL ROIC
ACHIEVED

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Our people and culture

Our people are at the heart of what we do, and we recognise that our investment in them, along with fostering a positive culture, leads to better business outcomes. In FY17, we continued to implement a range of initiatives to support a culture that values performance, innovation, professional development, flexibility and wellbeing.

$1.7m

invested in our communities

0%

gender pay gap on like-for-like roles

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Sustainability

This Changes Everything is Mirvac’s sustainability strategy, comprised of four focus areas with long-term missions.

4.1 star

NABERS
water rating

-26.3%

Carbon Intensity

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