STO0031 Annual Review 2013 DR5 WEB

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Annual Review 2013


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Retirement LivingWe have a clear strategy to continue to grow returnsin the Retirement Living business by improvingscale and ef ciency. Our ability to grow is largely inour control, with a strong development pipeline at

sites we already own, ef ciency improvements wellin train, and a commitment to maintain consistentlyhigh customer satisfaction.

The Retirement Living business continues todeliver against its strategy with a solid resultdespite the soft residential market. Operatingpro t was up six per cent on the previous yearand return on assets also rose, thanks to arecord number of settlements.

OutlookHaving assessed the business and put our revisedstrategy into action, I am con dent we will see asteady improvement in Stocklands earnings fromFY14 as new Retail, Residential and Retirement

Living projects begin to contribute, and as recentIndustrial letting, rental growth and cost reductioninitiatives begin to come through.

However, improvement in Residential earningswill likely be constrained as we continue to tradethrough impaired and low margin projects. It willalso take some time to see the full bene ts of ournew strategic priorities, particularly in Industrialand medium density housing development.

We are targeting FY14 earnings per share of fourto six per cent above FY13, assuming there is nomaterial decline in market conditions.

I am con dent that the strategic direction we haveset, the new leadership appointments we havemade and the actions we have taken this year willposition us well to deliver sustainable, competitiveand growing returns into the future.

Mark Steinert Managing Director and CEO

I have seen what setsour business apart quality assets, a strongand ethical corporateculture, and people witha passion for creatinggreat places to live,shop and work.

04 Stockland Annual Review 2013

LETTER FROM THE MANAGING DIRECTOR


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Industrial NOI decreased 18 per cent fromFY12 (comparable NOI down 10.9 per cent)mainly due to FY12 asset sales and FY13

lease expiries. Leases were executed onaround 288,000 sqm of space during theyear and as a result Weighted AverageLease Expiry increased to 3.3 years(from 2.7 years in FY12).

We expect continued solid underlyingdemand for industrial space with marketconditions likely to remain stable. As a resultof re-letting and redevelopment activityalready underway, we expect to achieve NOI

growth from the Industrial por tfolio in FY14.We will look to grow our portfolio, targeting$1.21.5 billion in assets in ve years. We willfocus on actively leasing, upgrading anddeveloping the existing portfolio, sourcingpre-commitments and completing designand construct, and assessing assets that tstrategic lters and investment criteria.

Net Operating Income

$63m

Net Operating Income

$119mOverall, of ce demand is weak relative to supply.Of ce vacancy and high incentives remain anindustry issue. By tightly managing our Of ce

assets we lifted comparable NOI 1.8 per centfrom FY12 or 6.6 per cent pre-IFRS.

Occupancy increased to 96 per cent and ourWeighted Average Lease Expiry was higherat 4.6 years. Total NOI was down 16 per centcompared to FY12, re ecting our businessstrategy of divesting non-core of ce assetsthat do not meet our hurdles.

We will retain a tactical exposure to of ce andwill continue to focus on maximising returnsfrom the portfolio. Income will be optimisedin the short to medium term with a focus onactive management, refurbishment andleasing. We will also look to take advantageof value-add opportunities within the existingportfolio, consider joint ventures (or part sales)as appropriate, and progressively down-weight when market conditions are optimal.

7 8 13 10 15 47

Vacant FY14 FY15FY16 FY17 FY18+

* Represents full portfolio, including assetsunder development in FY13.

Lease expiry pro le (%)*

11 17 11 14 13 34

Vacant FY14 FY15FY16 FY17 FY18+

Lease expiry pro le (%)

Industrial Of ce

NOI

18%Comparable NOI

10.9%

Portfolio occupancy

89.1%Return on Assets

9%

Of ce NOI

16%Comparable NOI

1.8%

Weighted AverageLease Expiry

4.6 yearsPortfoliooccupancy

96%Return on Assets8.3%

Weighted AverageLease Expiry

3.3 years


00 [SECTION HEADING]01 OUR PERFORMANCE IN FY13


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02. About Stockland

We have a long and proudhistory of creating placesthat meet the needs of ourcustomers and communities.

Vale, Western Australia

Stockland Annual Review 2013 13



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Pursuing that vision has seen Stockland growto become one of Australias leading diversi edproperty groups owning, developing andmanaging a large portfolio of shopping centres,of ce and industrial assets, residentialcommunities, and retirement villages.

Today our vision is to be a great Australianproperty company that delivers value to all itsstakeholders. Our primary objective is to deliverearnings per share (EPS) growth and totalrisk-adjusted shareholder returns above the

Australian Real Estate Investment Trust (A-REIT)index average, by creating quality propertyassets and delivering value for our customers.

We recognise our responsibilities to theenvironment and the community and are a leaderin sustainable business practices. With thebene t of our diverse property skills, we connectdifferent types of properties in shared locations,to create places that inspire people to connect,to share, to live life, and create communities.

We are structured as a stapled security;a combination of a unit in a trust and a sharein a company which are traded together on the

Australian Securities Exchange. This allows the

Group to undertake both property investment(via Stockland Trust) and property managementand development (via Stockland Corporation).

The structure enables all parts of the businessto bene t from our strong balance sheet.

Stockland wasfounded in 1952with a vision tonot merelyachieve growthand pro ts but tomake a worthwhile

contribution tothe developmentof our cities andgreat country.

Our businessOur stapled security structure

Shares

Stapled Securities

Units

Stockland Corporation(Development)

Stockland (Consolidated Group)

Stockland Trust(Investment)

Ervin GrafStockland Founder

Our purpose:We believe there isa better way to live


02 ABOUT STOCKLAND


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RetailWe are one of the largest retailproperty owners, developersand managers in Australia. Our41 retail centres accommodatemore than 3,200 tenants,creating nearly $6 billion ofretail sales per annum.

IndustrialOur Industrial portfoliocomprises 13 properties with

just under one million squaremetres of building area. Theseproperties are strategicallypositioned in key locationsfor logistics, infrastructureand employment.

Of ce The Of ce portfolio comprises16 properties in key locationswith 90 per cent of assets

A-Grade and above.

Residential

We are the largest residential developer in Australia. The business is focused on delivering a rangeof masterplanned communities in growth areasacross the country.

Retirement Living

We are a top three retirement living operator within Australia, with a deep development pipeline and just over 8,000 established units across ve statesand the Australian Capital Territory.

Portfolio (established units)

8,082

Active portfolio (lots approx.)

25,200Short to medium-term developmentpipeline (units approx.)

4,050Inactive portfolio (lots approx.)

54,400Estimated end value

$1.7bTotal end value (approx.)

$21.2b

We are wellpositionedwith a

diverseportfolio

Retail Ofce

Industrial Residential Communities Retirement Living Apartments

41 retail centres

$5.3b13 industrial properties

$0.8b16 of ce buildings

$1.6b

Commercial Property




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Our strategy Deliver value to all ourstakeholders

Our primary objective is to deliver earnings per share growth andtotal risk-adjusted shareholder returns above the Australian RealEstate Investment Trust index average, by creating quality propertyassets and delivering value for our customers.

Our strategy clearly articulates our short-termpriorities for the Group. Underpinning this is theawareness that decisions made to improveour short-term performance also consider thelong-term sustainability of our business andthe communities in which we operate.

For our Retail business it is about creatingcommunity and entertainment hubs, buildingand maintaining strong retailer relationships andinvesting in industry-leading research to adaptto an evolving retail landscape. For our Industrialand Of ce portfolio we are focusing on tenantsatisfaction and optimising the performance andreturns of our assets.

The delivery of our Residential and RetirementLiving communities accentuates communitycreation elements to ensure we increase residentsatisfaction and wellbeing, drive referrals, anddeliver sustainable margins over time. Our focuson the delivery of medium density and affordablehomes re ects our commitment to the ongoingevolution of our product to meet current andfuture customer needs.

Sustainable performanceToday Future direction

Leverage our corecompetencies in assetmanagement and developmentto drive value.Maintain a strong balancesheet with agile capitalallocation within a disciplinedrisk/return framework.

Focus on cost and ef ciency.

Leverage our strong customerand community valueproposition, deliveringproducts that exceed customerexpectations affordability,value and convenience a better way to live.

Maintain a desirable, engagedand productive workplace.

Improve pro tability of theResidential business.

Improve Retirement Livingreturn on assets.

Grow Commercial Propertythrough development andacquisition.

Reduce overheads and improveorganisational ef ciency.

Strengthen the Corporationthrough capital reallocation.

Residential

Industrial

Of ce

Retail

How we achieve it Our priorities

10-15%5-10%

50-70%

20-30%

RetirementLiving

20%7%

13%

49%

10%1%UK

Maintain a strong diverse portfolio to deliver reliable growth

Residential& Retirement

Living overall:20-30%

CommercialProperty overall:70-80%


02 ABOUT STOCKLAND


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Challenges and opportunities

Short TermChallenging market conditions

Longer TermChanging marketplace

ChallengeOngoing global and domesticeconomic uncertainty

ChallengeConsumers remain cautious

Challenge The regulatory environment isconstantly evolving

Challenge Technology is changing spendinghabits and business processes

ChallengeConsumers have higherexpectations of companies andtheir products

Our response Focus on ef ciency and cost

management. Achieved ~10%reduction in overheads overtwo years. Expect overheads

to reduce by a further ~10%in FY14 Maintain a strong balance

sheet with low gearing andtight control of costs

Maintain a desirable workenvironment. Focus onemployee engagementand those elements thatdrive employee retention

and productivity

Our response Provide affordable options

for rst home buyers throughto retirees

Sharpened our focus on

understanding our customersand maintaining high customersatisfaction

Create leading retail centres witha clear value and convenienceoffering with strong diversityin rental income

Our response Develop where governments

support growth Remain exible and open

to opportunities to take

advantage of shifts instakeholder preferences Continue to focus on good

practice to remain wellpositioned to respond toregulatory change

Engage with regulatorsand standard setterson good practice

Our response Continually monitor consumer

and market trends Create centres that provide

tangible experiences that virtual

shopping is unable to match Foster a culture of innovation

to ensure we identify and takeadvantage of new opportunities

Dedicated focus on continualimprovement of systems andprocesses with the appointmentof new Chief Operating Of cer

Our response Continue to evolve our market-

leading research in areas suchas product innovation andcustomer insights across all

asset classes Focus on elements that createliveable and sustainablecommunities and assets

Ensure our retail centres arethriving community hubs bydelivering quality retail anddynamic spaces

Foster a culture of hightransparency, trust andaccountability

We are actively ensuring that decisions made to improve performancein the short term also consider the long-term sustainability of ourbusiness and communities in which we operate.




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Retirement Living

Residential Communities

Retail

Of ce and Industrial

1.UPSTREAMPRODUCTS

2.FUNDING

3. ACQUISITION

4.DESIGN

5.

PROCUREMENT,CONTRACTING AND

CONSTRUCTION

6.LEASING

AND SALES

7.

ASSET ANDPROPERTY

MANAGEMENT

8.REFURBISH/

RE-DEVELOPMENT

9.DOWNSTREAM

PRODUCTS

Buildingmaterials

Buildingtechnologies

O F F - B

A L A N C E

S H E E T

O N - B

A L A N C E

S H E E T

D E T A I L E D D E S I G N

M A S T E R P L A N N I N G

A N D A P P R O V A L S

L E A S I N G

S A L E S

A S S E T

M A N A G E M E N T

P R O P E R T Y

M A N A G E M E N T Downstream

services areassociated withthe ongoingoperation ofour propertiesbut typicallygo beyond ourexisting propertyand assetmanagement

activities.They include:

Child care

Equipmentleasing

Warehousemanagement

Cleaning andsecurity

Catering

Utilitiesprovision

Paymentsprocessing

This diagramdemonstrates what wecontrol and in uenceacross the value chain.We are not a builder.

Detailed DesignBy design

consultants

Building andConstructionBy contractors

SalesBy commercial

agents

Currently undertaken by Stockland Coordinated by Stockland or sometimes

undertaken by Stockland

Not currently undertaken by Stockland

Our value chain


02 ABOUT STOCKLAND


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We recognise the importanceof building and fostering a risk

aware culture, where everyindividual takes responsibilityfor risks and controls in theirarea of authority.

03. Governance and remuneration

Stockland Rockhampton, Queensland




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03 Governance and remuneration


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Our Board

of Directors

1

Carol SchwartzBA, LLB, MBA, FAICD

(Non-Executive)Ms Schwartz was appointed to the Boardon 1 July 2010. Ms Schwartz serves on theRisk Committee and was a member of theStockland Audit Committee until June 2012.

2

Mark SteinertB Prop Res Mgt (Valuation), G Dip App Fin(Sec Inst), AAPI FFIN

Managing Director(appointed 29 January 2013)

Mr Steinert was appointed Managing Director andCEO of Stockland on 29 January 2013. Mr Steinertis a Director of Stockland Capital Partners Limited,the Responsible Entity for Stocklands unlistedproperty funds.

3

Terry WilliamsonBEc, MBA, FCA, FCIS, MACS(Non-Executive)

Mr Williamson was appointed to the Board in April 2003. Mr Williamson is Chair of theStockland Audit Committee, the StocklandCapital Partners Audit and Risk Committeesand Stockland Capital Partners FinancialServices Compliance Committee.

4

Carolyn HewsonBEc (Hons), MA (Ec), FAICD(Non-Executive)

Ms Hewson was appointed to the Board on1 March 2009. Ms Hewson is Chair of theRisk Committee and a member of the HumanResources Committee.

5

Graham Bradley BA, LLB (Hons 1), LLM, FAICD

Chairman(Non-Executive)

Mr Bradley was appointed to the Board on9 February 2004 and was appointed Non-Executive Chairman on 25 October 2005.Mr Bradley is a member of the Human ResourcesCommittee and was appointed Chairman of theSustainability Committee on 1 July 2012.

6

Barry NeilBEng (Civil)(Non-Executive)

Mr Neil was appointed to the Board on 23 October2007. Mr Neil is Chairman of Stockland CapitalPartners Limited, the Responsible Entity forStocklands unlisted funds and a member of theStockland Audit Committee.

7

Peter ScottBE (Hons), MEng Sc, FIE. Aust, CPEng, MICE(Non-Executive)

Mr Scott was appointed to the Board on 9 August2005. Mr Scott is Chairman of the HumanResources Committee and a member of theRisk Committee.

8

Duncan BoyleBA (Hons), FCII, FAICD(Non-Executive)

Mr Boyle was appointed to the Board on7 August 2007. Mr Boyle served as Chairman ofthe Sustainability Committee until 30 June 2012.Mr Boyle was a member of the Risk Committeeuntil 30 June 2012 and was appointed as amember of the Audit Committee from 1 July 2012.

1 3

2 5

4 6 7 8

Matthew Quinn retired 11 January 2013. Mr Quinn was a member of the StocklandBoard and a Director of Stockland Capital Partners Limited, the Responsible Entityfor Stocklands unlisted funds up to his retirement.


03 Governance and remuneration



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We are committedto ensuring that ourremuneration policiesare fair, responsible andcompetitive and thatwe communicate ourremuneration arrangementswith full transparency.We undertook a thoroughreview of our remunerationpolicies and practicesin FY12.On an ongoing basis, the Board monitors ourremuneration policies and practices to ensurethat they remain in line with current best practice,are consistent with anticipated regulatory changesand market trends, and continue to be effectiveto meet our changing business priorities and

market challenges.Our remuneration structure has threecomponents: xed remuneration (Fixed Pay); performance-based pay, or short-term

incentives (STI); and long-term incentives (LTI).

There were no material changes to the remunerationarrangements for our existing Senior Executivesbut the remuneration arrangements for our newManaging Director and CEO Mark Steinert, whocommenced in January 2013, differ from those ofour previous Managing Director Matthew Quinn.

In FY13, for the second consecutive year, weawarded no Fixed Pay increases to our SeniorExecutives continuing our prudent approach toremuneration management.

The total short-term incentives (STI) for allemployees and those awarded to our SeniorExecutives are signi cantly down from FY12.

These outcomes re ect the Boards assessmentof performance against the measures outlined inour Corporate Scorecard. We believe that thesemeasures create appropriate alignment for ouremployees with our securityholders interestsand encourage proper management of risk indelivering business objectives.

Base fees for our Non-Executive Directors werenot changed in FY13 and will not increase in FY14.

Remuneration

FixedPay

STI

LTI

Stockland

remunerationframework

Pay for performancebased on a balancedscorecard of keyperformance indicators: Business/Financial Customer/Stakeholder People and Leadership Sustainability/WHS

A portion of STI isdeferred into securitiesfor Executives to furtheralign with securityholdervalue creation.

Competitive xed pay toattract and retain talent.

Long-term equity basedpay to align withsecurityholder valuecreation and employeeretention.

Full details of the Remuneration Reportare in our Financial Report page 27.



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Board remuneration paid in FY13Short-term Post-employment

Board and CommitteeFees

$

Non-monetarybene ts

$

Superannuationcontributions

$Total 1

$

Non-Executive Directors

G Bradley(Chairman)

2013 495,882 4,118 500,000

2012 484,225 15,775 500,000D Boyle 2013 185,882 4,118 190,000

2012 191,725 15,775 207,500C Hewson 2013 205,882 4,118 210,000

2012 194,225 15,775 210,000B Neil 2013 218,582 4,118 222,700

2012 219,425 15,775 235,200C Schwartz 2013 178,382 4,118 182,500

2012 186,725 15,775 202,500P Scott 2013 208,382 4,118 212,500

2012 196,725 15,775 212,500 T Williamson 2013 242,942 4,118 247,060

2012 231,285 15,775 247,060Total consolidated remuneration 2013 1,735,934 28,826 1,764,760

2012 1,704,335 110,425 1,814,760

1 The fees for each Director are paid on a total cost basis which includes any applicable compulsory superannuation. The amount of superannuation included in the total fees will vary depending on the timing of payments and in line with applicable legislation.

Workforce remuneration Average Fixed Remuneration Ratio by Job Band (Women:Men)

Job Band FY13 FY12 FY11 FY10 FY09

Executive Committee N/A 0.51 0.51 0.43 0.37Senior Management 0.88 0.85 0.83 0.78 0.74Management (Stockland*) 0.84 0.84 0.86 0.81 0.81Management (Aged Care) 0.89 0.94 Employee (Stockland*) 0.86 0.83 0.84 0.77 0.75Employee (Aged Care) 0.90 0.93 0.92

Total Stockland* 0.64 0.64 0.63 0.57 0.55 Total Aged Care 0.90 0.93 0.96

* Excluding Aged Care

Note: Remuneration comparison data includes Fixed Pay only and does not include incentives. Aged Care gures include casuals due to the large numbers of employees on this type of employment contract.However, those who received a sales-based incentive have been excluded.


04 CAPITAL MANAGEMENT


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Debt

Equity

Capitalrecycling

Capitalpartnering

Active capitalmanagement isfundamental

We ensure we havethe optimal mix offunding sourcestogether with strongcapital managementdiscipline

It contributes to ournancial strengthand exibility when

opportunities ariseand if marketconditions shift

04. Capital management AClearPositionWe maintained ourstrong nancial positionwith an A-/Stable creditrating and remain focusedon prudent balancesheet management.



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05. Operational ef ciency

A

ClearDeliverablePrudent cost managementand operational ef ciencyremained a key focus acrossthe business. We realisedsavings through optimisedprocurement practices,centralisation of Groupfunctions and assetoperational ef ciency.

Cost savingsThe energy saved since 2006 represents anoperational saving of avoided costs of over

$35 million

Return on investmentEnergy ef ciency related capital projects contributeto cost savings, where every dollar invested hascontributed to $2 in cost savings

EnvironmentSince 2006 our investment in energy ef ciencyprograms has reduced our greenhouse gas emissionsby over 55,000 tonnes or the equivalent of turning offone of our larger shopping centres* for 10 years

CustomerWe pass through savings in outgoings to ourtenants. In FY13 our tenants will bene t by over

$4.0 million

Investment

All energyef ciency projectstarget a 12 per centinternal rateof return

*Stockland Townsville Stockland Annual Review 2013 31


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06 ENGAGED AND PRODUCTIVE WORKFORCE


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Corporateresponsibility andsustainability

Re ecting our employeespride in the contribution wemake to the community andsociety and that we are anenvironmentally responsibleorganisation

Leadershipeffectiveness

Providing a positivere ection of our strategicfocus on the developmentof leadership capabilities

Ef cient operationsand clearaccountabilities

Employee perceptions thatthe organisational structurefacilitates these havedeclined. The surveypre-dated the FY13organisational restructurewhich sought to addressthese issues

Values

Perceptions regardingclarity of our values havedeclined. In response tothis we have initiated aproject to refresh ourvalues in FY14

% % %

%

84

87

Diversity andinclusion

Accepting of differenceswith regard to gender, age,cultural background and/orlifestyle and working style

We achieved an80% employeeengagement score

Flexibility

Managing work scheduleand family/personalcommitments is importantto employee wellbeing.Identi ed as the secondhighest reason peoplestay at Stockland

%

?Whatsimportant toour employees

06. Engaged and productive workforce AClearResolveWe aim to foster a culturewhere our people areempowered to perform,can develop their careers,and are recognised andrewarded for theircontribution.

Results from our annual 'Our Voice' survey administered by Towers Watson measuring levels of employee engagement.



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07 CUSTOMER SATISFACTION


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CustomersatisfactionThe biggest driver of customer

satisfaction in our communitiescomes from factors other thantheir own homes

Referrednew leadsSatis ed customers aremore likely to refer(currently 20 per cent ofnew leads are referred)

Conversionto salesReferred leads convert tosales at three times therate of non-referred leads

ConsumerfocusBy focusing our developmentand community creationactivities on the mostimportant community elementswe will increase customersatisfaction and drive referrals

Our proprietaryliveability study ofover 1,700 residents

in our communitiesidenti ed elementsthat contribute tohigher customersatisfaction orliveability

27%Communitydesignelements

26%Communityperceptions

20%Generalhouse & landelements

16%Personalcircumstances

11%My home

Componentsof satisfaction:

07. Customer satisfaction AClearInsightUnderstanding andresponding to ourcustomers changing needsis critical to the sustainabilityof our business, andexceeding their expectationsto maximise customersatisfaction is critical to ourbroader business success.



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08 S i bl d l08 SUSTAINABLE DEVELOPMENT


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Running costs

We expect theoperating ef ciencyimprovementsto reduce costs by

$30,000-$40,000pa,a saving passed onto our residents

What makes it aGreen Star building?

Af nity VillageClubhouse isthe rst retirementliving villagecommunity centre toachieve a Green Starrating from the GreenBuilding Councilof Australia

Fine-tunedperformance

All facets of the clubhouseare automaticallymeasured using a building

management system

Water ef ciency

Careful selection ofxtures and ttings ensurethe best possible use ofevery drop of water

Energy ef ciency

62% reduction in lightingenergy consumption,insulation and glazing keeps

it cooler in summer andwarmer in winter

Transport

Cycling facilitieswere provided for staff,residents and visitors tohelp reduce transportemissions and supportactive lifestyles

Materials

Fly ash concrete wasused to reduce theembodied energy(the energy used toproduce cement)of the building

Indoor environmentquality

The quality of the air isconstantly monitored, natural

light is optimised, toxins frommaterials are reduced

08. Sustainable development AClearCommitmentWe are committed tomaking our communitiesand assets stronger,healthier, connected andmore resilient. We lookto use innovative andsustainable products toenhance quality of life andaffordability, to responsiblymanage and improve our

environmental impact,and make our assetsmore ef cient for theenvironment, our customersand our people.



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Documentation of sustainability dataprotocols and business processes

INDEPENDENT ASSURANCE STATEMENT


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Detailed documentation of data collection andreporting protocols exist for a number of keysustainability metrics (including energy,greenhouse emissions, operational wasteand water) in some areas of the business.Documentation of corresponding processes forthe same metrics in other parts of the businessesrequire further development. In addition,documented data protocols for other key datametrics should be improved to maintainconsistency in year on year reportingmethodologies. Net Balance also recommendsthat Stockland documents the established

stakeholder engagement and materialityassessment processes occurring across thebusiness to ensure continuity and consistencyof approach over time.

On behalf of the assurance team20 September 2013Sydney, Australia

Terence Jeyaretnam, FIEAustDirector, Net BalanceLead CSAP (AccountAbility UK)

Alan Dayeh, BBus(Fin) BSc(EnvBiol)

Associate Director, Net BalanceLead CSAP (AccountAbility UK)


Stockland Annual Review 2013


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Designed and produced by Designworks.

Sustainabilityreporting

2013Supporting our AnnualReview is detailedsustainability reportingwhich is now

delivered online atwww.stockland.com.au/ sustainability.

We remain committed to delivering high qualitysustainability reporting. This year the GlobalReporting Initiative released a new standard forsustainability reporting the GRI G4 Guidelines.We have applied the standard to a comprehensivelevel with third party review from our assuranceprovider, Net Balance.

Content on our sustainability website has beenexternally assured against the AA1000 AssuranceStandard (2008).

Features provided online:

Our sustainability management approach Material sustainability issues

Detailed performance data Case studies

GRI Index

Annual Review 2013


30 June2013


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Stockland Corporation Ltd ACN 000 181 733

Head f ce

Level 25, 133 Castlereagh StreetSydney NSW 2000

Sydney Telephone 02 9035 2000

MelbourneTelephone 03 9095 5000

Br sbaneTelephone 07 3305 8600

PerthTelephone 08 9368 9222

Disclaimer of Liability While every effort is made to provideaccurate and complete information,Stockland does not warrant orrepresent that the information inthis brochure is free from errors oromissions or is suitable for yourintended use. Subject to any termsimplied by law and which cannotbe excluded, Stockland acceptsno responsibility for any loss,damage, cost or expense (whetherdirect or indirect) incurred by youas a result of any error, omission ormisrepresentation in information.Note: All gures are in Australiandollars unless otherwise indicated.

This report is printed on Impact, m ade with 100% postconsumer waste recycled bre. Impact is FSC certi edand produced with a carbon neutral manufacturingprocess. Paper production and the printing processwere carried out under the ISO 14001 certi ed systems.

www.stockland.com.au

Documents

STO0031 Annual Review 2013 DR5 WEB