Kiwi Property investor tour presentation

SYLVIA PARK GALLERIA
INVESTOR TOUR 2020

AGENDA
10.30- 11.15Galleria overview
11.15 -12.15Galleria tour
12.15 -1.00Lunch

KIWI PROPERTY ASSET OVERVIEW
Sylvia Park
Sylvia Park LifestyleLynnMall
The Base (50
%
)
Westgate LifestyleCentre Place NorthVero Centre
The PlazaNorthlandsThe Aurora Centre
ASB North Wharf
44 The Terrace
Key:
Mixed-use portfolioRetail portfolioOffice portfolio
Sylvia Park
The Base (50
%
)
Aurora Centre
Vero Centre
ASB Centre
44 The Terrace
12
assets
1
$186.8m
Net rental
income
$3.1b
Portfolio
value
2
3
1. Excludes other properties and development land. 2. The value noted here
includes other properties and development land with a combined value of $215m

NAVIGATING COVID-19: A STRATEGIC RESPONSE
Diversify
Stablise
Grow
4

DIVERSIFIED PORTFOLIO
29%
16%
4%
3%
48%
Sector diversification
by portfolio value as at 31 March 2020
Mixed-useOfficeRetailIndustrialOther
5

RESILIENT CATEGORY MIX
50%
13%
37%
Essential services
1
Everydayessentials
2
Discretionary
Income breakdown
by portfolio value as at 31 March 2020
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1. Essential services include supermarkets, pharmacies, medical services, banks, insurance, legal, government, telco and financial services.
2. Everyday essentials include electronics, hardware, consultancy, department stores and discount department stores, hairdressers and opticians. All other categories are considered discretionary.

RESILIENT CATEGORY MIX
Essential services
1
Everydayessentials
2
Discretionary
60%
40%
68%
15%
18%
Top 20 tenantsAll other tenants
Top 20 tenants:
income contribution
% of investment portfolio gross income
Top 20 tenants:
income category
% of top 20 tenants’ gross income
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1. Essential services include supermarkets, pharmacies, medical services, banks, insurance, legal, government, telco and financial services.
2. Everyday essentials include electronics, hardware, consultancy, department stores and discount department stores, hairdressers and opticians. All other categories are considered discretionary.

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DELIVERING
THE GALLERIA

SYLVIA PARK: NZ’S FAVOURITE SHOPPING CENTRE
1
GALLERIA
9
1.Source: The Heart of Kiwi Property survey July 2019, Nielsen

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SYLVIA PARK
GALLERIA

11
THE TERRACE AT
SYLVIA PARK

12
SOUTH
CARPARK

Existing
centre
(incl. ANZ Raranga)
Galleria
Sylvia Park
Shopping
Centre
Sylvia Park
Lifestyle
SYLVIA
PARK
Net lettable area82,100 sqm20,000 sqm102,100 sqm16,600 sqm118,700 sqm
Tenants1915724816264
Carparks4,1009005,0003935,393
Valuation
1
$1,090.0m$74.3m$1,164.3m
SYLVIA PARK: BY THE NUMBERS
1. Valuations are as at 31 March 2020. For Sylvia Park Shopping Centre the value shown is the "as if complete" value assessment, assuming completion of the Galleria.
Updated valuations to be announced with half-year result.
With the opening of the galleria, Sylvia Park will have more than 260 stores
and 5,300 carparks, the most of any shopping centre in New Zealand.
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1.Large flagship stores
2.Fewer, better stores in key locations
3.Wider range; best in class categories
4.Significant omni-channel integration
5.Rent is a function of more than just sales
GALLERIA: DEVELOPED WITH THE NEW WORLD OF RETAIL IN MIND
14

GALLERIA LEASING MAP
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10 OF NZ’S11 FAVOURITE RETAILERS WILL BE AT SYLVIA PARK
1
1. Based on a representative (age, gender, location) nationwide Colmar Brunton survey conducted in August 2020. Base n=967.Question wording: “And Of These, Which Is Your Most
Favourite Retailer?” Asked out of a list of 33 fashion, beauty, accessory and footwear retailers and an option to say ‘other retailers’.
1
2
3
4
5
6
7
8
At Sylvia Park
Not at Sylvia Park
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9=

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FINANCIAL METRICS
Total cost$277m
Initialyield (FY22)5.1
%
WALE7.8years
SYLVIA PARK GALLERIA
AND SOUTH CARPARK

SYLVIA PARK: MORE THAN A RETAIL POWERHOUSE
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Key:
RetailLFROfficeIndustrial

SYLVIA PARK TOWER 2: AN ONGOING OPPORTUNITY
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SYLVIA PARK TOWER 3: MAINTAINING OPTIONALITY
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BUILD TO RENT: DESIGN CONTINUES
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THANK YOU

DISCLAIMER
Kiwi Property Group Limited has prepared this document. By accepting this document and to the maximum extent permitted by law, you acknowledge and agree to the following matters.
No liability
Kiwi Property Group Limited, its advisers, affiliates, related bodies corporate, directors, officers, partners, employees andagents (together ‘Kiwi Property’) expressly exclude and disclaim any and all liability which may arise from this
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images (including any dimensions) are for illustrative purposes only and are subject to change at any time and from time to timewithout notice.
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This document does not constitute advice of any kind whatsoever (including but without limitation investment, financial, tax,accounting or legal advice) and must not be relied upon as such. This document is intended to provide
general information only and does not take into account your objectives, situation or needs. You should assess whether the information in this document is appropriate for you and consider talking to a professional adviser or
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Past performance information given in this document is given for illustrative purposes only and should not be relied upon as (and is not) an indication or guarantee of future performance.
Future performance
This document contains certain "forward-looking statements" such as indications of, and guidance on, future earnings and financial position and performance. Forward-looking statements can generally be identified by the use of
forward-looking words such as, 'expect', 'anticipate', 'likely', 'intend', 'could', 'may', 'predict', 'plan', 'propose', 'will', 'believe', 'forecast', 'estimate', 'target', 'outlook', 'guidance' and other similar expressions. The forward-looking
statements contained in this document are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Kiwi Property,
and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. There is no assurance or guarantee that actual outcomes will not materially differ from these
forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking statements. Investors should consider the forward-looking statements contained in
this document in light of this information. The forward-looking statements are based on information available to Kiwi Property as at the date of this document.
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An investment in the financial products of Kiwi Property Group Limited is subject to investment and other known and unknown risks, some of which are beyond the control of Kiwi Property Group Limited. Kiwi Property Group Limited
does not guarantee its performance or the performance of any of its financial products unless and to the extent explicitly stated in a prospectus or product disclosure statement or other offering document.
No duty to update
Statements made in this document are made only as the date of this document unless another date is specified. Except as requiredby law or regulation (including the NZX Listing Rules), Kiwi Property undertakes no obligation to
provide any additional or updated information or revise or reaffirm the information in this document whether as a result of new information, future events, results or otherwise. Kiwi Property Group Limited reserves the right to change
any or all of the information in this document at any time and from time to time without notice.
Caution regarding sales information
Any sales information included in this document has been obtained from third parties or, where such information has not been provided by third parties, estimated by Kiwi Property based on information available to it. The sales
information has not been independently verified. The sales information included in this document will not be complete where third parties have not provided complete sales information and Kiwi Property has not estimated sales
information. You are cautioned that this document should not be relied upon as a representation, warranty or undertaking in relation to the currency, accuracy, reliability or completeness of the sales information contained in this
document.
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