Dexus · ASX:DXS

Dexus — DB RREEF Trust — Shareholder Meeting (November 2006)

38 slides from Dexus's shareholder meeting presentation, Nov 8, 2006

  1. Slide 1: DB RREEF Annual General Meeting

    DB RREEF Annual General Meeting Wednesday 8th November 2006, 10am DB RREEF Funds Management Limited ABN 24 060 920 783 As Responsible Entity

  2. Slide 2: Christopher Beare – Chairman

    Christopher Beare – Chairman 2

  3. Slide 3: Elizabeth Alexander AM

    Elizabeth Alexander AM DB RREEF Managed in partnership with Deutsche Bank a

  4. Slide 4: Barry Brownjohn

    Barry Brownjohn DB RREEF 4 Managed in partnership with Deutsche Bank

  5. Slide 5: Stewart Ewen OAM

    Stewart Ewen OAM DB RREEF 5 Managed in partnership with Deutsche Bank

  6. Slide 6: Victor Hoog Antink – CEO

    Victor Hoog Antink - CEO DB RREEF 6 Managed in partnership with Deutsche Bank

  7. Slide 7: Charles Leitner III Andrew Fay (Alternate)

    Charles Leitner III Andrew Fay (Alternate) 7

  8. Slide 8: Brian Scullin

    Brian Scullin DB RREEF Managed in partnership with Deutsche Bank

  9. Slide 9: Chairman's Address

    DB RREEF Managed in partnership with Deutsche Bank

  10. Slide 10: Performance

    Performance ƒ Net profit $1.07 billion ƒ Distributions $306 million ƒ Net tangible assets $1.53 per security GPT, 1 Farrer Place Sydney, NSW 10

  11. Slide 11: Security holder returns

    Security holder returns 160 160 150 DRT Annualised Return = 20.4% 150 S&P/ASX 200 Prop. Annualised Return = 19.8% 140 140 UBS Diversified 200 Annualised Return = 16.2% 130 130 120 120 110 110 100 100 90 90 80 80 Oct-04 Jan-05 Apr-05 Jul-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Source: IRESS/DB RREEF 11

  12. Slide 12: CEO's Address

    DB RREEF Managed in partnership with Deutsche Bank

  13. Slide 13: DB RREEF

    DB RREEF Total assets1 - $8 billion Funds under management1 - $11.8 billion Retail, 12% Retail, 24% US Industrial, 20% US Industrial, 13% Office, 45% Office, 44% Industrial, 20% Industrial, Car parks, 17% Car parks, 2% 3% 1 30 June 2006 13

  14. Slide 14: Portfolio at a glance

    Portfolio at a glance 2006 2005 ƒ Funds under management $11.8b $10.3b ƒ DRT portfolio size $8.0b $6.8b ƒ Occupancy 96.0% 93.1% ƒ Area leased (sqm) 730,000 470,000 ƒ Development pipeline $1.3b $0.9b 14

  15. Slide 15: Office - Portfolio

    Office - Portfolio ƒ Number of properties ƒ Office 24 ƒ Car parks 5 ƒ Number of tenants 590 ƒ Total asset value $3,623m ƒ Revaluations $307m or ↑ 9% The Zenith, Pacific Highway, Chatswood, NSW 15

  16. Slide 16: Office - Performance

    Office - Performance ƒ Income $222.3m ↑ 9.5% ƒ Area leased 62,000sqm ƒ Occupancy 98.2% ↑4.6% ƒ Lease duration 6.3yrs ↑ 0.4yrs ƒ Investment pipeline $900m1 ƒ 3 projects 103,000sqm GPT, 1 Farrer Place Sydney, NSW 1 Estimated end value 16

  17. Slide 17: Industrial - Portfolio

    Industrial - Portfolio ƒ Number of properties 41 ƒ Number of tenants 320 ƒ Total asset value $1,564m ƒ Revaluations $134m or ↑ 9% Pound Road, West Dandenong, Vic 17

  18. Slide 18: Industrial - Performance

    Industrial - Performance ƒ Income $110.0m ↑ 5.2% ƒ Area leased 213,000sqm ƒ Occupancy 99.2% ↑ 0.8% ƒ Lease duration 4.8yrs ↓ 0.3yrs ƒ Investment pipeline $133m1 ƒ 3 projects 104,000sqm Laverton North, VIC Axxess Corporate Park, Mount Waverly, Vic 1 Estimated end value 18

  19. Slide 19: DB RREEF Industrial Estate, Laverton North

    DB RREEF Industrial Estate, Laverton North 19

  20. Slide 20: Retail – Portfolio

    Retail – Portfolio ƒ Number of properties 6 ƒ Number of tenants 1,100 ƒ Total asset value $915m ƒ Revaluations $77m or ↑ 9% ƒ Total sales $1,503m Westfield Mount Druitt, NSW 20

  21. Slide 21: Retail – Performance

    Retail – Performance ƒ Income $54.8m ƒ Occupancy 99.4% ƒ Lease duration 5.1yrs ↓ 1.0yr ƒ Investment pipeline1 $145m ƒ 2 projects 65,000sqm Westfield Mount Druitt, NSW 1 Estimated end value 21

  22. Slide 22: International - Portfolio

    International - Portfolio ƒ Number of properties 97 ƒ Number of tenants 560 ƒ Total asset value $1,462m ƒ Revaluations $168m or ↑ 11% 5823 Newton Drive, San Diego, CA 22

  23. Slide 23: International - Performance

    International - Performance ƒ Income $114.7m ↑ 2.3% ƒ Area leased 4.6m sqft ƒ Occupancy 92.5% ↑ 4.0% ƒ Lease duration 3.3yrs ↓ 0.1yr ƒ Investment pipeline $97m1 ƒ 2 projects 488,120 sqft Rancho Cucamonga, Riverside USA 1 Estimated end value 23

  24. Slide 24: Third Party Funds

    Third Party Funds ƒ Funds Under Management $3.9b ƒ DWPF $1.8b ƒ Separate Accounts $1.9b ƒ Syndicates $0.2b ƒ DWPF ƒ Responsible Entity acquired with investor approval ƒ Renamed – DB RREEF Wholesale Property Fund Gateway Complex, Sydney, NSW 24

  25. Slide 25: Sustainability

    Sustainability ƒ Mitigates the risks on investments and developments ƒ Lowers operating costs for existing buildings ƒ Makes our properties more attractive for existing and future tenants ƒ Improves resource efficiency for both DB RREEF and the community 25

  26. Slide 26: 343 George Street Sydney – Head Office

    343 George Street Sydney – Head Office 26

  27. Slide 27: 2007 The Year Ahead

    DB RREEF Managed in partnership with Deutsche Bank

  28. Slide 28: French Industrial Acquisition

    French Industrial Acquisition ƒ Number of properties 6 ƒ Number of tenants 8 ƒ Acquisition value $120m ƒ Lease duration 6.8yrs ƒ Occupancy 100% ƒ Initial yield 6.9% 28

  29. Slide 29: Whirlpool Investment Program

    Whirlpool Investment Program ƒ Number of properties 11 ƒ Number of countries 3 ƒ Number of tenants 1 ƒ Acquisition value $600m* ƒ Lease duration 10yrs ƒ Occupancy 100% ƒ Initial blended yield 7%* * Estimate 29

  30. Slide 30: North Ryde – Business Park Investment Pipeline

    North Ryde – Business Park Investment Pipeline ƒ Purchase price $51.75m ƒ Site area 5.8 ha ƒ Development potential 80,000sqm ƒ Car parking 1,700 spaces Artist’s impression 30

  31. Slide 31: Bent Street, Sydney - Investment Pipeline

    Bent Street, Sydney - Investment Pipeline ƒ Site area 3,300sqm ƒ Development potential 37,000sqm ƒ Estimated completion 2011 ƒ JV partner DWPF Artist’s impression 31

  32. Slide 32: Resolutions

    DB RREEF Managed in partnership with Deutsche Bank

  33. Slide 33: Resolution 1

    Resolution 1 - to ratify the appointment of an Independent Director “That the appointment of Mr Christopher T Beare as an Independent Director of DRFM be ratified.” 33

  34. Slide 34: Resolution 1

    Resolution 1 - to ratify the appointment of an Independent Director Proxies held by the Chairman of the meeting For 1,500,483,973 Open 17,310,926 Against 90,179,428 Total proxies 1,607,974,327 34

  35. Slide 35: Resolution 2

    Resolution 2 - Adoption of Remuneration Report “That the Remuneration Report for the financial year ended 30 June 2006 be adopted.” (Note that the vote on this item is advisory only and does not bind the directors or DRFM). 35

  36. Slide 36: Resolution 2

    Resolution 2 - Adoption of Remuneration Report Proxies held by the Chairman of the meeting For 1,302,526,430 Open 17,507,637 Against 284,712,764 Total proxies 1,604,746,831 36

  37. Slide 37: Disclaimer

    DB RREEF Managed in partnership with Deutsche Bank

  38. Slide 38: Disclaimer

    Disclaimer This presentation is issued by DB RREEF Funds Management Limited (DRFM) in its capacity as responsible entity of DRT. It is not an offer of securities for subscription or sale and is not financial product advice. Information in this presentation including, without limitation, any forward

DB RREEF Trust — Shareholder Meeting (November 2006) on 6ix