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18 October 2013

Sydney, Australia

DTZ Analyst & Investor presentation

PRIVATE & CONFIDENTIAL

www.dtz.com

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Friday 18 October 2013

Agenda

Welcome & opening Richard Leupen UGL Managing Director & CEO

8.30am - 9.00am

Overview of DTZ Tod Lickerman DTZ Global CEO

9.00am - 9.30am

EMEA John Forrester Chief Executive, EMEA

9.30am – 10.00am

Morning tea break 10.00am – 10.15am

North Asia Edward Cheung Chief Executive, North Asia

10.15am – 10.45am

Asia Pacific Henry Arundel Chief Executive, South East Asia ANZ

10.45am - 11.15am

Americas Nick Westley Chief Executive, Americas

11.15am – 12.00pm

Facilities Management George Keches President, Global Facilities Management

12.00pm – 12.30pm

Lunch

Open Q&A All presenters plus: Joe Friedman – DTZ EVP Finance Chris Cooper – Head of Investment Management UK Jun Sochi – Chief Executive, Facilities & Engineering, DTZ Singapore

12.30pm – 2.00pm

Closing Richard Leupen UGL Managing Director & CEO

2.00pm

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Introduction

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51 73 177 270 416

1,101

1,559 1,362 1,329

1,603

1,935

2,247

FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14

UGL acquires Kilpatrick Green

UGL acquires KFPW

UGL acquires Singapore based Premas International

UGL acquires US based Unicco Service Company

UGL Services and DTZ rebrand to DTZ

UGL acquires US based Equis Corporation

UGL acquires trading assets of DTZ plc

1998 2005 2007 2011

2002 2006 2010

UGL rebrands the property business UGL Services

2012

Evolution of DTZ

DTZ (% UGL revenue)

5.9% 6.8% 14.1% 12.1% 11.7% 31.7% 32.8% 32.5% 31.0% 36.0% 45.2%

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DTZ is a leading global integrated property services company with a strong recurring revenue base and attractive growth outlook

DTZ today

By Service By Geography

FY13 Business Mix

Order book

Revenue

People (Including contractors)

$3.5B

>$2.0B

~45,000

Countries 52

End markets

• Blue-chip companies

• Government • Private

enterprise • Public

institutions

• Commercial and corporate

• Education • Financial

institutions • Government

• Life Sciences • Logistics and

industrial • Public venues • Retail • Technology

Clients DTZ Revenue ($m)

4

Americas55%

Asia Pacific22%

EMEA16%

NorthAsia7%

FM73%

CRE27%

1,362 1,329

1,603

1,933

FY10 FY11 FY12 FY13

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DTZ has a unique integrated, end-to-end global service offering

DTZ Core Services

5

Investor

Occupier

Consulting

Leasing agency and brokerage

Building Consultancy/

Project Management

Integrated property and facilities management

Capital markets Investment and

Asset Management Valuation

Research

End-to-end

End-to-end

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DTZ - Global Geographic Footprint

Americas

3 countries 33,500 employees

EMEA

33 countries 3,500 employees

North Asia

5 countries 1,800 employees

APAC

11 countries 5,500 employees

#1 global service provider by Client

Advocate Score in the 2013 Watkins Survey

Fully integrated self-perform model

#1 by revenues in Asia Pacific

#1 by revenues in Australasia

Largest footprint in Greater China and

#1 valuations business in North Asia

Leading alternative asset manager with $12b funds under

management

#1 in Qatar in various CRE & FM

services

#1 in Poland in various CRE

services

#1 CRE firm in the Netherlands

Top 4 CRE firm in Germany

Top 4 CRE firm in UK

#1 in Czech Republic in various

CRE services

Top 4 CRE firm in France

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Demerger Overview

• On 26 March 2013, UGL announced that it was undertaking a corporate structure review

— Review involved a detailed evaluation of issues, costs and benefits of various alternatives

• UGL’s Board concluded that a demerger of DTZ and Engineering provides the optimal corporate structure to deliver the best long-term sustainable outcome for all UGL stakeholders

— Both DTZ and Engineering have grown significantly over recent years and as both businesses enter their next phase of growth, the operational and strategic priorities of each business are starting to diverge

— A demerger recognises that the two businesses operate in fundamentally different markets and have different geographic focuses and strategic requirements going forward

• UGL will proceed as quickly as possible to prepare DTZ and Engineering to operate on a standalone basis, including completion of the global integration of DTZ and the build-out of DTZ’s global headquarters in the US

• UGL aims to complete the demerger in FY15

• Board of Directors, management teams, capital structure and dividend policies of Engineering and DTZ will be determined closer to time of demerger

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A demerger provides the optimal corporate structure for both DTZ and Engineering

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A demerger of DTZ and Engineering will…

Rationale for a Demerger

Create two attractive, market leading entities with a single industry focus

— A leading global integrated property services company

— A market leader in engineering, construction and maintenance services in Australia, NZ and Asia

Allow separate Board and management teams to focus on their core business strategies and growth opportunities

Allow each business to adopt independent capital structures and dividend policies appropriate for their operational and financial requirements

Enhance long-term shareholder value and offer investors a clear investment choice

— Both companies will be ASX-listed and are expected to be included in the S&P/ASX 200 index

Provide clarity of strategy and increased transparency of value

— Demerger expected to facilitate a better recognition of the value of the two businesses over time

Allow each business to recruit and retain the best people and foster an independent corporate culture

A demerger will ensure that both DTZ and Engineering have the ability to pursue their strategies unhindered and is expected to deliver long-term sustainable shareholder value

A Demerger of DTZ and Engineering will…

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UGL aims to complete a demerger in FY15

Timing and Key Milestones of a Demerger

Key milestones Description

Establish proven track record for DTZ and Engineering

• Separate UGL consolidated functions (e.g. finance, tax, treasury, IT, legal, company secretarial, investor relations, human resources etc.)

• Build out DTZ global headquarters in the US and Engineering in Australia with the necessary functions to support independent ASX-listed entities

• Establish separate Boards of Directors and senior management teams appropriate for ASX-listed companies

• Establish a proven track record for DTZ and Engineering operating as standalone entities

• Establish appropriate capital structures which will allow each business to achieve their strategic objectives and pursue growth opportunities as they arise

• Determine appropriate dividend policies for the two companies

Complete DTZ integration program • Completion of comprehensive global integration of DTZ including global IT systems roll-out

Obtain necessary regulatory and statutory approvals

• Obtain the necessary regulatory and statutory approvals, including shareholder approval

— Apply for demerger tax relief and stamp duty reconstruction relief

— Prepare scheme of arrangement booklet and documentation

— ASIC and ASX review

— Shareholder vote

— Court approval

Ensure supportive market conditions • Capital market conditions will also need to be supportive at the time of a demerger

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Market – The Opportunity

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Self-perform $140 B – 70%

CBRE

JLL

C&W

UGL/DTZ

All Others $45.5 B – 78%

Top 4 $14.5 B – 22%

Opportunity

2011 total real estate services market 2011 market share by revenue

Outsourced $60B – 30%

$60 B $200 B

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Recent data show pick-up in US and European economies Average GDP growth

Source: DTZ Research, Oxford Economics

-1%

0%

1%

2%

3%

4%

5%

6%

EU27 US Asia Pacific World

2008-12 2013-17

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Fed tapering talk has prompted rise in global bond yields 5 year government bond yields

Source: DTZ Research, Bloomberg

0%

1%

2%

3%

4%

5%

6%

7%

0%

1%

2%

3%

4%

5%

6%

2007 2008 2009 2010 2011 2012 2013

US (LHS)

Italy (RHS)

Spain (RHS)

France (LHS)

UK (LHS)

Germany (LHS)

Japan (LHS)0%

1%

2%

3%

4%

5%

6%

7%

0%

1%

2%

3%

4%

5%

6%

2007 2008 2009 2010 2011 2012 2013

US (LHS)

Italy (RHS)

Spain (RHS)

France (LHS)

UK (LHS)

Germany (LHS)

Japan (LHS)

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0

50

100

150

200

250

300

350

400

450

North America Asia Pacific Europe

Recovery in investment volumes across all regions Global investment volumes, USD bn

Source: DTZ Research, RCA, RealNet

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Growth initiatives

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Growth initiatives

People: Talent development / retention / succession

Platform: Execute Global Property System (GPS) / redefine and implement customer facing technology platform / roll-out global CRM system

Global Corporate Services (GCS): Increased cross-selling of services to clients, particularly multinational corporations

Coverage and markets: Controlled international expansion, expand skill lines and capabilities

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Regional snapshots

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Americas – Ongoing investment in brokerage business driving future growth

FY13 revenue

People

~$1.1BN

33,500

Performance highlights / priorities

• Improving market conditions • Pursuing larger / more complex FM accounts

• Number of recent key wins with global opportunity

• Fee earner recruitment momentum building with number

of new hires announced in key markets (eg New York)

87%

13%

Facilities Management Brokerage / GCS

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APAC – Strong contract retention with significant pipeline

FY13 revenue

People

~$430m

5,500

Performance highlights / priorities

• Business confidence remains subdued across the APAC region

• Strong contract renewal rates • Pipeline remains strong despite weak near-term

economic growth in Australia

• Organisation restructured with new leadership in place

• FM growth strategy formulated with key growth resources identified

Leasing Agency/Occup

ational Development,

Other, 9%

Facilities Management,

64%

End to End, 26%

Valuation, 1%

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EMEA – Building momentum

FY13 revenue

People

~$320m

3,500

Performance highlights / priorities

Occupational Markets

29%

Valuation 16%

Property Management

29%

Investment Agency

12%

Other 13%

• Improving macro conditions

• DTZ UK performing well primarily by Central London

• France and Germany restructure on-track

• Middle East (Qatar and KSA) operations continuing to grow

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North Asia – Continued growth and outperformance

FY13 revenue

People

~$135m

1,800

Performance highlights / priorities

• #1 commercial real estate services firm in world’s second largest economy

• Market leaders in major investment transactions in China:

• DTZ arranged the sale of Metropolitan Plaza – a US$4.5bn transaction

• Continuing to expand presence into second tier cities

Investment Agency 15%

Residential Agency 3%

Occupational Markets

29%

Valuation 23%

Project and Building

Consultancy 2%

Consulting & Research

11%

Property and Facilities

Management 17%

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Europe, Middle East & Africa (EMEA)

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Europe Middle East & Africa (EMEA) coverage

EMEA • 33 countries (7 minority equities and 12

affiliates) • 93 offices • 3,500 employees

• Top four market position among UK commercial real estate advisory firms

• France - #1 market position in retail valuation services

• Germany - 25m sq ft of lettable space under management

• Poland - #1 in property management

• Nordic & Baltic region - #1 market position in valuation and as overall advisor and consultant

• Qatar (minority equity) - #1 in valuation, leasing agency, consulting and corporate services

• Aspire Zone Project - 2011 Middle East 'Facilities Management Project of the Year'

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Capital Markets

Each country in EMEA has designated capital markets resources advising clients on the buy and sell side. This has recently been augmented by a pan-European capital markets team based in London focused on the movement of global capital flows

EMEA skill line breakdown

Property Management

National and international integrated property and asset management services for investors, corporate owners and occupiers of property

Global Corporate Services (GCS)

Interface for global occupiers, offering the range of real estate services required by corporates. No significant FM capability in-house, solutions through sub-contractors

Consulting

Alignment of real estate portfolios with business objectives, turning financial, socio-economic and regeneration objectives into deliverable policies, strategies and solutions

Valuation

Comprehensive commercial and specialist residential property valuation, appraisal and due diligence advice

Leasing Agency / Occupational Development Markets

Market leading office agency teams specialising in the leasing of city centre offices, business parks and mixed used developments

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EMEA skill line breakdown

Retail

DTZ’s retail team works closely with developers, investors, retailers, landlords and owners to deliver solutions in all aspects of retail property

Research

DTZ is the premier source of thought led research on real estate markets worldwide. A consolidated team provide coverage of all key global property markets

Project Management & Building Consultancy

Our project and building consultancy professionals advise on the construction, repair and maintenance aspects of commercial property

Investment and Asset Management

Investment and Asset Management teams help clients achieve optimum performance in their property portfolios through strategic advice, portfolio management and transaction services

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Organisational structure

CE

General Counsel HSSE

New Territories

Projects

Executive Assistant

Shared Service Centre

Financial Planning and

Analysis

Reporting

Company Secretarial

Contracts

Risk

Compliance

Audit

Operational Property

IT

New Business Finance

Bids and Pipeline

Marketing Comms

Client Relationship Management

Business Development/Sales

Reward Learning and Development

HR CFO (Fin/Ops) COO Trading

EMEA Skill Lines (Cross Border Leadership)

Retail Valuation Office

Agency Research

Project & Building

Consultancy Consulting Investment Logistics

Geographies

Trading

Financial Compliance &

Control

Global Corporate Services

UK & Ireland Central & Eastern Europe

Outsource Services

Middle East & Africa

Nordics Western Europe

Northern Europe

Recruitment

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Occupational Markets 29%

Valuation 16%

Property Management 29%

Investment Agency 12%

Other 13%

EMEA revenue by skill

FY13 EMEA Revenue $319.6m

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Overview Trends

Market overview and trends

• European economy fragile but green shoots emerging, with positive growth expected in Q4 2013 (Eurozone +0.5%), although growth in CY2013 will be still be broadly flat. Renewed political uncertainty over Italy is partially offset by electoral success of incumbent in Germany

• UK, FR and DE still dominate, pockets of activity in the rest of Europe, notably the Nordics, and signs of improvement in Southern Europe. London remains strong, but we are seeing more activity in UK regional markets

• Significant bias of DTZ EMEA revenue to economies with positive outlook. Only 2% of revenue lies in Spain, Italy, Ireland and Portugal.

EMEA Macroeconomic

• Some signs of improvement in European economy; but GDP expected to fall in CY 2013 in many countries (incl. Spain, Italy, Netherlands); the UK leading the recovery, and expected to record strong growth in the second half of 2013

• Some growth expected for CY 2013 in core Europe and forecasts revised higher, (DE=+0.5%, FR=+0.2%, UK=+1.4%); stronger growth forecast for CY 2014

• Unemployment in Europe at record high (Eurozone=12.1%), apart from Germany (5.3%)

• Significant rise in bond yields since beginning of May as markets have re-assessed quantitative easing (QE) withdrawal timetable in US. In addition, the Bank of England (BoE) has stated there will be no more QE in the UK.

Real Estate

• Occupiers remain reluctant to invest in expansion

• European investment volumes to be broadly flat in CY 2013

• Prime rents to show little growth across most of Europe in CY 2013, and yields to be steady

• Few corporate clients are seeking full EMEA E2E solutions. Project management and property management, data and strategy are often bundled with transactions, resulting is a requirement to be first class in all disciplines to retain or win transactions.

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EMEA differentiators

Services

• Market leader in retail malls

• Leading office market adviser

• Leading valuation provider

• Leading UK public sector advice provider

Reach

• Market leading access to global real estate capital flows

• Market leading solutions for multi-territory corporates

• Integrated global services offering

Reputation

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Key strategic initiatives

1. Capital Markets Market leading capital markets group which facilitates cross border investment into EMEA by identifying and

tracking new sources of investor capital globally and building relationships with new investors. DTZ’s strong Asian platform is utilised to guide cross border capital into EMEA from the Far East.

DTZ has recently secured an exclusive sales instruction on a $2.9bn pan-European portfolio. 2. Corporate Occupiers

Global Corporate Services is a strategic partner to corporate clients providing global, integrated, end-to end strategy, management and coordinated local execution.

DTZ has recently been appointed to a three-year contract to advise Rolls-Royce, the world’s second-largest

maker of aircraft engines, on the management of its occupational real estate across 20 countries in EMEA.

3. Recruitment Real focus on the recruitment of senior client facing roles. Antoine Derville (President, France), Marc-Henri Bladier (Managing Director, France), Douglas Babington

Smith (Head of Italy) and Paul Boursican (Head of EMEA Capital Markets Group) are recent examples.

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EMEA major clients

Segro

• Property investment and development company

• Capital Markets, Occupational/ Development Markets

Aberdeen Asset Management

• International investment management group

• Capital Markets, Occupational/ Development Markets, Valuation, Property Management, Building Services and Consulting & Research

Hammerson

• Major British property development and investment company

• Capital Markets, Occupational/ Development Markets and Valuation

RBS

• British banking and insurance holding company

• Capital Markets, Occupational/ Development Markets, Valuation, Property Management, Building Services and Consulting & Research

Standard Life

• Long term savings and investment business headquarted in the UK

• Occupational/Development Markets, Valuation, Property Management, Building Services

AXA

• French global investment, retirement and insurance group

• Capital Markets, Occupational/ Development Markets, Valuation, Property Management, Building Services and Consulting & Research

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EMEA select key mandates

Verifone Global account management providing transaction management and project management

Vistaprint Global contract covering 52 countries providing transaction management, project management and lease administration

CAVP (Gecina) Sales instruction for 100,000 sq ft office space in Paris

Wipro Global mandate to provide transaction advisory and management services

Significant mandates won in recent months

High Speed 2 (HS2) Appointed to three UK lots to advise on estates services, property management, urban regeneration and development

Rolls-Royce DTZ has been appointed the main property adviser for Rolls-Royce across its 160m sq ft EMEA estate

Morgan Stanley Sale and leaseback of 450,000 sq ft London HQ. Target price $400m

Chevron Agency and professional services across EMEA

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Results achieved • 97% leased or committed on centre opening

date • Lettings achieved on average rents of between

$385-$460 per sq ft Zone A

Capabilities – case study Westfield Stratford City, London

Background • At 1.9m sq ft, Westfield Stratford City is Europe’s

largest retail centre with 300 retail units, 60 restaurants, cinema, casino and bowling alley

The clients challenge • To have the centre fully let by the opening date • A tenant mix that includes established as well as new

and interesting retailers in order to establish a ‘point of difference’ in the new shopping centre

• Market rent in an undeveloped area of London where retail was virtually non existent

• Maintain a critical level of rents throughout the mall in order to meet Westfield’s financial targets

DTZ solution • Bring our market knowledge of the best UK centres

and of international brands • Provide a team of five dedicated agents to the project • Host tours with agents in order to build up interest

and understanding of the scheme • Build on skills and relationships with retailers and

retail agents learnt from our involvement with Westfield London and Bluewater in Kent

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• Devised a short, medium and long term marketing strategy

• Promoted accommodation on a prelet basis Results achieved • 1m sq ft of accommodation disposed of in one

transaction to Google. DTZ was at the heart of this deal and at the client’s side for every single step of the process.

• Numerous other disposals have taken place in deals with BNP, Camden Council, Zone, Hoare Lea and The Office Group

• The client is delighted with our service and we are in a very strong position on this scheme

Capabilities – case study King’s Cross, London

Background • In 2006, planning permission was granted for 8m sq ft

of mixed use development • Spread over a site that totals 67 acres, it is providing

3.4m sq ft of new offices, 500,000 sq ft of retail, cafés, bars and restaurants, c.2,000 new homes, a new university and a leisure, hotel and cultural uses

The clients challenge • At the time of DTZ’s engagement King’s Cross had

image problems and the scheme wasn’t even a building site

• DTZ was required to help change the image of King’s Cross, give robust and credible advice on the likely commercial terms achievable for the accommodation, provide advice on the design criteria for that accommodation in the context of the wider scheme

• We were then required to identify and attract occupiers for King’s Cross and successfully conclude transactions with them

DTZ solution • Placed a senior team on the job from the outset • Became heavily involved in the design development

of each individual building • Heavily involved in marketing and place making

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Results achieved

• Our approach resulted in over $675,000 p.a. reduction in costs following a full re-tendering of services

• Massive increase of apartment sales (from 5 units to over 30 units in just one business year)

• Reduction in arrears by 45% achieved through better communication increased confidence and the more equitable service charge system

• Provided stability by increasing tenant communication during period of transfer of ownership

Capabilities – case study The Sony Center, Berlin, Germany

Background • The Sony Center is a 1.3m sq ft prime mixed use

scheme in the heart of Berlin comprising office, residential, retail and leisure

• DTZ has managed The Sony Center during two changes of ownership

The clients challenge • Set up accounting system across the entire

development • Undertake a full review of service charge, reduce cost

and establish a more equitable apportionment of costs amongst the occupiers

• Increase value by improving the initially low occupancy levels

• Create and execute a marketing campaign to sell remaining residential apartments

• Maintaining stability during transfer period to new ownership

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DTZ Investment & Asset Management (I&AM)

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Overview Research-driven investment house 45 years of investment management experience Discretionary and advisory mandates Segregated account and fund of funds management Investment strategy, investment due diligence, and portfolio

management services Winner of 12 IPD pension fund awards in the last 12 years,

including “Best 10-year risk adjusted return” award for 2006, 2007, 2008, 2009 and 2011 recognising DTZ IM as the best performing investment manager in the UK on a risk-adjusted basis.

Top 10 real estate manager in the UK by AUM.

DTZ Asset Management Continental Europe

$7.0B AUM 45 Professionals

$4.4B AUM 50 Professionals

DTZ Investment Management United Kingdom

Regulatory environment Regulated by the Financial Conduct Authority (FCA) in the UK AAF 01/06 accredited and audited Seeking authorisation as an Alternative Investment Fund Manager

Highlights Top manager by investment performance in the UK (Best 10-year

risk adjusted return award from IPD for 2006, 2007, 2008, 2009 and 2011)

Outperformed the UK market as measured by IPD consistently over the long term, with cumulative outperformance of ~20% over the last decade which was achieved without using leverage in portfolios

DTZ Investment & Asset Management (I&AM) Overview

Highlights Leading asset manager in France with mandates across

Continental Europe for some of the most sophisticated real estate investors globally

Achieved significant business growth, from a standing start, in less than 10 years

Regulatory environment Unregulated as providing direct real estate management services

Overview Well established European real estate asset manager Set up in 1999, it has delivered consistently high financial

performance to DTZ and investment results to our clients Third-party asset management for a broad range of private equity

real estate funds and institutional investors Market intelligence, strategic advisory, investment and

acquisition, financing advisory, legal structuring, portfolio management, and asset management and (where required) property management services

Winner of Pierres d’Or for Asset Manager of the year in 2004 and European Pensions Award for Best Asset Manager in 2009

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Overview of I&AM

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Assets under management ($million)

DTZ IM DTZ AM

Advantages Sustainable

revenue High margins

+20%

Synergies with skill

lines 1 for 1

Growth potential

Global consolidation

trend

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I&AM is a mature manager but with strong growth potential

Growth potential Organic 1. Clients increasing their real estate

allocations in search of more favourable returns

2. Infill of existing EMEA network, particularly UK and CEE asset management expansion

3. Launch of new products including pan-European property funds and debt funds

Inorganic 1. US platform growth 2. Asia-Pac markets F

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DTZ Research

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Consistent report series covering all relevant client perspectives

Market leading research capabilities

Occupier Perspective – regional and global reports which review occupier issues

Property Times – regular reports on the occupational real estate market with commentary, analysis, forecasts and key data; now covering more than 75 markets

Investment Market Update – country/regional reports on real estate investment markets with commentary, data, analysis and key transactions

DTZ Insight – a range of timely, thematic and topical reports providing insight into the key issues for the real estate industry

DTZ Foresight – regular updates of our forecast and analysis of regional property markets around the world, including the DTZ Fair Value Index™ analysis F

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Global

August 2011 – August 2013

Clients see media coverage, read reports and view webcasts

87,000 reports downloaded

from DTZ.com

166,000 reports downloaded

from DTZ.com

Over 5,593 subscribers to DTZ

webcast channel

81

webcasts recorded

14,665 webcast viewings

Over 13,500 Clients registered on

DTZ.com

25,000 Clients registered on

DTZ.com

Over 150,000 Concep campaigns

sent

198,000 Concep campaigns

sent

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Leading fund managers and Sovereign Wealth Funds use DTZ Research data

“I am consistently impressed with the depth and breadth of DTZ Research and their knowledge of global property markets”

“Their various data products... analysis and insight help us formulate our investment plans and strategy”

Paul McNamara, Head of Global Research, PRUPIM

“this is excellent and will form a critical element of our strategic research program going forward”

Simon Durkin, Head of Research & Strategy, Deutsche Asset & Wealth Management

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North Asia

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North Asia coverage

North Asia • Greater China, South Korea, Japan • 27 cities • 1,800 employees

• DTZ’s offices in North Asia offer on the ground expertise in all aspects of the property market.

• Greater China, #1 commercial real estate services firm in world’s second largest economy

• First and only company holding national valuation licensed appraisers among international real estate firms in South Korea

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Organization Structure

Valuation KK Chiu

Leasing Agency / Occupational Development

Investment Agency Francis Li

Project Management &

Building Consultancy Anthony Ng

Consulting Alva To

Research

Andrew Ness

NORTH ASIA SKILL LINE LEADERSHIP

North Asia Property

Edward Cheung Chief Executive

Regions

Greater China

Head Edward Cheung

Japan

Head Yoshiki Kaneko

South Korea

Head Dr. JW Shin

North Asia Functions

Human Resources Christine Jou

Marketing/ Communications

Wye Yee Low

Technology

Global Corporate Services

Head Adam Catchpole

Property and Facilities

Management Johnson Yip

Investment/ Capital Markets Business

Development Gordon Marsden

COO Sean Wang

CFO David Tan

HSSE Andy Morrison

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North Asia revenue by skill

Investment Agency 15%

Residential Agency 3%

Occupational Markets 29%

Valuation 23%

Project and Building Consultancy

2%

Consulting & Research 11%

Property and Facilities Management

17%

FY13 North Asia Revenue = ~AUD136.6m

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Market Overview Trends

Market overview and trends

• The Chinese economic growth slowed to 7.5% in the 2nd quarter of 2013 while it is widely expected that GDP growth has stabilized in the 3rd quarter even though some risks remain.

• Investors and developers show divergent interests

in the Chinese real estate market with some divesting out of the mainland market while others are taking up more positions.

• Business is expanding faster in the smaller 2nd and

3rd tier cities. DTZ with the largest footprint in China is positioned to take advantage.

• Japanese investment market has remained improving and has been continuously driven by J-REIT and domestic players. Japanese logistics continues to be one of the most active markets.

• South Korean investment market is expected to be mainly driven by domestic institutional investors. Return on retail property investment climbed in 2013.

• Customers are diversified while they prefer companies with high standard services and an international image.

• Market entries by local competitions intensify price wars and compress margins.

• Bank of Japan continues to take strong actions to revitalize the Japanese economy by pumping liquidity into the market.

• Stable policies provide opportunities for Korean corporates and foreign investors to invest in Korean domestic market. Consulting and Investment have a continuous demand from the market.

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North Asia differentiators

• We have the largest footprint in Greater China

• Our brand is synonymous with quality real estate services and integrity in China

• We are #1 in valuation business in the North Asia region

• We are market leaders in major Investment transactions in China

• We have the strongest track record of government and local clients appointments

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North Asia major clients

• Roche

• Providing office relocation service for Roche in Beijing

• Global Logistic Properties

• Provide property management service for GLP park in Suzhou

• Swire Properties

• Providing office leasing agency service in Hong kong

• HSBC

• Working as the exclusive valuer for the mortgage services of HSBC in Hong Kong

• Hutchison Whampoa

• Provided investment agency service for an office building disposal in Shenzhen

• Intel

• Provided investment agency service for Intel’s site disposal in Shanghai F

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Metropolitan Plaza • Guangzhou, China

• Provide investment advisory for the disposal of Metropolitan Plaza deal worth 2.6billion. Guangzhou Metropolitan Plaza is a four-storey shopping mall completed in 2012, with retail gross floor area totaling approximately 88,885 sq m.

North Asia select key mandates

Kenedix • Japan

• Provide investment advice to Kenedix in respect of the land disposal and also supported the • procedure of land use conversion, which was originally registered as “farmland”

KT Estate • Korea • Provide strategy planning for 454 properties' re-positioning by understanding current state and

valuation the potential use of the properties. The total GFA is approx. 45.4 million sq ft. For

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Services : Investment Agency • Our investment agency professionals provide advice on the sale, acquisition and funding of

commercial property, with specialists in office and business parks, retail, hospitality, industrial, logistics and residential development

Case Study: Dangdai Building • In Calendar year 2013 alone, DTZ has closed nearly USD1.4 billion. This extraordinary figure

includes the team’s latest coup in assisting Shun Tak Holdings to acquire the Dangdai Building (for RMB 1.29b) from award-winning Modern Green Development, a Beijing-based developer.

Capabilities – Case Study

Services : Consulting • With close to 300 dedicated consulting professionals worldwide, we have one of the largest pools of

consultants specializing in real estate. We advise governments, developers, investors and corporate owners and real estate development.

Case Study: Xiamen International Cruise Centre • The Consulting teams in Xiamen, Shenzhen and Hong Kong, worked together to perform a preliminary

study for the development of the Xiamen International Cruise Centre, in Dongdu Port of Xiamen.

Services : Leasing Agency and brokerage • Our leasing agency and brokerage professionals serve landlords and occupiers in fulfilling their leasing

needs – as well as the purchase and sale of business space on behalf of occupiers.

Case Study: Pfizer Beijing offices • DTZ was appointed to provide tenant representation services to consolidate and relocate the existing

Beijing offices of Pfizer that spans 10,808 sq m, including identifying a building that satisfies the real estate requirements of both the local and regional management with the best rental package.

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Services : Property and Facility management • We provide property management for investors and occupiers across all types of commercial

property. We are also devoted to supporting our clients in managing the workplace service requirements, provide users with a safe and enjoyable environment.

Case Study: New Nike headquarter in Yangpu district • Nike China awarded DTZ the integrated facilities management services contract for its new

headquarters campus in the Yangpu district of Shanghai.

Capabilities – Case Study

Services : Project Management & Building Consultancy • We provide services covering all aspects of project management including concept development,

budget and scheduling, financing and design and construction management. We also manage capital outlays for maintenance, repairs and operations and oversee construction management.

Case Study: Jinjiang Metro Cash & Carry • DTZ PBC was awarded 6 projects for Metro (Mega stores national wide) including 4 Greenfield and 2

Built to Suite project management for year 2013.

Services : Valuation / Appraisal • We provide comprehensive valuation, appraisal and due diligence advice to a wide range of clients,

including investors, corporate and public sector owners, lenders, and fund managers. Our clients use our valuation advice for assessing potential transactions, asset financing, financial reporting and IPO listings.

Case Study: Yum！ • DTZ East China Valuation team has been named sole valuer to Yum! Brands Inc (China Division) for the

next two years. This engagement includes the valuation of selected properties of Yum! Brands’ current chain stores in China, as well as proposed new stores.

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Asia Pacific

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Asia Pacific coverage

Asia Pacific • 11 countries • 31 offices • 5,500 employees

• #1 in Full Service Residential Singapore market.

• 2.1 billion sq ft property and facilities management portfolio in Asia Pacific and North Asia

• Manage two Townships in Singapore with over half a million residents

• Strategic partner and shareholder of Singapore Sports Hub, one of the largest sports infrastructure projects in the world

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Regional breakdown / skill line breakdown

Agency Leasing Leasing services to building owners, developers and landlords for all commercial property types across Asia Pacific

Consulting Specialist consultants focusing in key property-related business issues

Facilities Management (FM) Integrated FM solutions across a diverse client base. Manage the entire building life cycle from both a strategic as well as a day-to-day operational perspective

Global Corporate Services Provide global integrated end-to-end portfolio strategy, management and coordinate local execution

Energy and Sustainability Services Deliver complete suite of environmental sustainability services including policy, strategy, implementation and innovation

Capital Markets Advise on sale, acquisition and funding of commercial property across all sectors and industries

End-to-end property solutions across Asia Pacific

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Regional breakdown / skill line breakdown

Investment and Asset Management Advice on investment strategy, fund creation, investment management and maximising the productivity, reliability and efficiency of the facilities in our client portfolios

Property Management Property management services for investors

and occupiers across Asia Pacific

Tenant Representation Strategic tenant advice including leasing, acquisition and disposal of commercial properties

Valuation Comprehensive valuation, appraisal and due diligence advice to a wide range of clients

Research and Forecasting Timely and forward looking research on commercial property markets across the region

Project Management Core services include: • Project Management • Building consulting and advisory • Program Management

End-to-end property solutions across Asia Pacific

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Organisational Structure F

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Asia Pacific revenue by skill

Capital Markets/Investment

Agency, 1% Leasing

Agency/Occupational Development, 6%

Project Management/Building

Consultancy, 1%

Facilities Management, 64%

End to End, 26%

Valuation, 1%

FY13 APAC Revenue = $430m

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4.4%

-0.1%

0.4%

-4.8%

0.8%

3.2%

0.1%

-0.9%

3.8%

-6%

-4%

-2%

0%

2%

4%

6%

2012 2013F 2014F 2012 2013F 2014F 2012 2013F 2014F

Australia Singapore India

Investment transaction volume growth Q3 2013 prime office rental growth forecasts

Asia Pacific property market indicators

0

20

40

60

80

100

120

140

160

180

200

2012 2013F 2014F

Asia Pacific

11%

12%

-1%

USD (bn) Average annual growth (% p.a.)

Source: DTZ Research NB: Transaction volumes forecasts are as at Q3 2013

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Asia Pacific fair value index, Q2 2013

Source: DTZ Research

83 88 86 47 76

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Australia China India Other Asia Pacific

Cold Warm Hot

Overall FV score reduces but vast majority of markets remain attractive F

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Asia Pacific differentiators

• #1 occupier services provider in ANZ market

• #1 in Full Service Residential Singapore market

• Singapore – Only International Consultancy providing specialist Hospitality Management

services (e.g. Award winning “Treetops Executive Residences”)

• Singapore – Top #3 in Residential Resales/brokerage with 2000+ Associate agents

• Malaysia- #1 in Retail Development Consultancy & Leasing

• Only IPC in India with base build project experience for high-rise buildings

• India Valuations team developed RICS Red Book for Valuations standards in India

• India, Awarded ‘Best Property Consultancy of India’ for 4 consecutive years: 2010-2013

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Asia Pacific major clients

Yahoo, India

• Transaction Advisory

Hong Leong/CDL Group, Singapore

• Transacted portfolio of Commercial office/industrial buildings

• Development Consultants and sole Marketing Agents

National Australia Bank, Australia

• Strategic consulting

• Transaction Advisory

• Office services

• Data Centre Management

• Integrated facilities/property/ portfolio management

Sydney Opera House

• Building Fabric Maintenance Services

Singapore Sports Hub, Singapore

• 25 years PPP contract

• Integrated facility management

JTC Corporation, Singapore

• Integrated facilities management

• Property management

• Agency leasing

• Secured 3-year renewal managing agent contract from 2014 to 2017

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Coles • Nationally across Australia

• Summary of services:

• Provision of security services

• Fully integrated facilities management services for Coles Distribution Centres

Asia Pacific select key mandates

BCA Dormitory • Singapore

• Full integrated dormitory management services including building maintenance, M&E maintenance, security, horticulture, landscaping, cleaning and pest control, in addition to tenancy management

Township • Singapore • Managing Marine Parade, Jurong Town Council • Routine & cyclical maintenance for the estate • Emergency repair service and lift rescue work • One-stop customer service help desk

• Neighbourhood renewal and upgrading program

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Asia Pacific select key mandates

ITE College West, Singapore • 27 year PPP contract • Integrated facility management

Singapore Land Authority (SLA) • Singapore • Client since 1985 • A new 3-year contract commencing in this year to manage and operate the commercial

properties for SLA • Scope of work includes tenancy & lease administration, preventive & ad-hoc maintenance

works, renovation and improvement works and valuation services

DUO • Appointed for marketing consultancy and sale of The Duo’s residential tower • Developed by M+S Pte Ltd, a collaboration owned 60/40 respectively by Malaysia’s strategic

investment fund, Khazanah Nasional Berhad and Singapore’s state-owned investment company, Temasek Holdings (Private) Limited

• DUO is an integrated development comprising premium residences, a 5-star hotel, grade A offices and a retail gallery on a 26,688 square metre site

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Capabilities case studies

National Australia Bank, Australia • 13 years of service • End-to-end delivery

1,787 properties; 7.3 million sq ft • Portfolio management • Transaction advisory • Strategic consulting • Project management • Office services • On-site property management • Subcontractor management

• Capital works program management • Integrated facilities management

Westpac, Australia • Five years of service • Full-service solutions

2,568 properties; 1,898 leases • Portfolio management • Property management • Workplace management • Facilities management • Financial management • Environmental sustainability services

End-to-end solutions platform built to respond to the exacting needs of our clients

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Capabilities case studies F

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Capabilities case studies

Department of Foreign Affairs and Trade (DFAT)

• 12 years of service (Since March 2001)

• Full-service solutions • Nearly 700 high profile, diverse and special

purpose properties, including Embassies, Consulates, official residences and staff housing facilities (free standing, town houses and residential compound arrangements) in 83 countries around the world

Services include: • Estate management • Facilities management

• Compliance management • Procurement • Financial management and administration services

Jurong Town Corporation (Singapore) • 1,300 residential apartments • More than 200 industrial estates • Seven blocks of bio-medical research buildings at

Biopolis@One-North • Over 100 vacant properties

Services include: • Hard and soft FM services • Property management & maintenance • Fire safety & security • M&E engineering systems maintenance • Utilities & EHS management • Tenant management • Transport and car park management • Facilities booking

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Capabilities case studies

Energy & Sustainability Services • More than 10 years of experience in delivering energy

& sustainability services in Asia

• Identified over US$100 million of energy savings for clients

Serve investors, owners, occupiers and developers

Scope of services • Energy management consultancy • Energy audit

• Green mark certification

• Energy procurement • Metering and arrears management

• Green products and solutions

• Carbon management consultancy

Singapore Sports Hub • 25-year PPP contract

• Integrated FM and Asset Life Cycle Management

•

Sport stadia/halls, commercial and leisure facilities totaling 278,700 sqm

Scope of services • Security & access control management

• Cleaning, waste management & conservancy

• Landscaping & turf pitch management • Mechanical & electrical services

• Help desk & asset management

• Event support services • Utilities management

• Car park, parking & traffic management

• Health & safety

End-to-end solutions platform built to respond to the exacting needs of our clients

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Americas

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Americas coverage

Americas • 3 countries • 63 offices • 33,500 employees

• #1 most recommended real estate firm in North America (Watkins Survey)

• 800 million sq ft facilities management portfolio

• Self-performs more services in more geographies than any other real estate services provider in North America

• 95% customer retention rate

• Leader in energy and sustainability services

• Particular strength in public institutions, e.g. Universities, Government, and Life Sciences

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Americas Skill Line Breakdown F

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DTZ Americas Organisational chart

Americas

Nick Westley

Chief Executive

CFO Jim Lawlor

Americas Functions

Technology

Safety

Research

Human Resources

Marketing/Comms

Legal/Risk

Facilities Mgt

President George Ketches

Sub Regions/Business Lines

Mexico / Latin AM Canada CRE

EVP Greg Schementi

EVP Rob Cookson

Global Corporate Services

Nick Westley

DTZ

Tod Lickerman

Group CEO

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87%

13%

Facilities Management

Brokerage / GCS

Americas revenue by skill

FY13 Americas Revenue ~$1.1bn

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North American investment volumes were up 15% in 2012, the strongest of any region. Cross-border volumes have returned to their 2005 level. Volumes might be restricted going forward due to lack of sellers.

All U.S. markets are classified as attractive or very attractive, ahead of Europe and Asia Pacific.

Market Trends and Issues: Investment in CRE

Stock size, long term liquidity and relative value

Ove

rpri

ced

Un

de

rpri

ced

Low liquidity

UKUS

SE

SG

JP

CN

FR

IR

ES

IT

DEAU

High liquidity

$500 bn

$250 bn

$100 bn Europe

Asia Pacific

USA

Stock Region

Sources: U.S. Government, REIS, Moody’s, DTZ Research

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Differentiators

• Leverage large national presence

• Fully integrated, end-to-end services

• 17,000+ in-house workforce

• Majority of services self-performed

• Relationships with multi-levels of buyers

• Consolidated financial reporting

• One-stop shopping

• First-to-market - Sustainability

• Very high Client Advocate Scores

• Occupier focused experience

• Tenacious reputation

• Loyal customer base – high client retention

• Entrepreneurial sales team (brokers)

• Ability to leverage a collaborative global CRE platform

Americas FM Americas Brokerage

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Marketplace Current DTZ Customers

Financial & Insurance

Retail

Manufacturing

Information,

Communication,

Technology

Education Harvard

University

Government

Public Venue

Representative clients by industry

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Representative clients by industry

Americas brokerage F

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Global Corporate Services

• Global RE and FM o/sourcing is continuing to spread – overall market is growing

• Secured Twenty-One (21) new GCS clients • Renewed or expanded Twelve (12) existing

GCS client relationships • Centralized and upgraded GCS marketing

material • Increased GCS visibility at CoreNet and

other industry recognized organizations

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Facilities Management

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A sizeable, highly fragmented global market

Global Facilities Management Market

• A €635bn global market

• Market drivers: • Trend to outsourcing • Bundling: demand for single point

of contact from clients • Increased contract complexity

requiring enhanced specialisation • Increased focus on developing

bespoke solutions for select end markets

• Innovation and technology to increase barriers to entry

• Market challenges:

• Fragmented market • Very few pan-European players • Margin pressure • Being able to demonstrate benefits

of fully integrated solutions • Managing agent vs self-delivery • Migration from single service to

multi-service providers

Source: Merrill Lynch

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Global Facilities Management market – Competitive landscape

Source: Merrill Lynch, DTZ insights, market reports

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DTZ’s Facilities Management platform

Global DTZ revenue by type Global DTZ FM revenue by geography

Americas55%

Asia Pacific22%

EMEA16%

NorthAsia7%

FM73%

CRE27%

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Objectives:

• Robust response to global RFP’s

• Drive profitable revenue growth globally

• Consistent service delivery across all regions

• Consolidate platform and infrastructure to deliver global FM capabilities

• Leverage best practice capabilities

Objectives

Expanding DTZ’s global FM platform

Opportunities with existing customers

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Capabilities case studies

• Leading worldwide automotive manufacturer and provider of various financial services for more than 100 years

• Proactive leader in quality initiatives and workplace cultural change: “The Toyota Way”

• TMS North American corporate headquarters located in Torrance, California

Toyota

Contract Highlights

• Contract since 2011 (transition began 1/11; assumed full FM 4/11)

• Full FM contract, coordinating self-performance & subcontract mgmt, including aggressive M/WBE targets

• 8.8M square feet; 1,607 acres; 132 locations

• Corporate and regional headquarter campuses, R&D facilities, service centers, training centers, financial and administrative offices, warehouses and manufacturing plants

• 338 DTZ employees plus 3 prime M/WBE subcontractor support companies

Scope of Services

Full Facilities Services:

• Operations and maintenance (both

fixed and mobile)

• Central plant operations

• Custodial services

• Grounds maintenance/ landscaping

• Space planning & management

• Call center operations

• CMMS operation (Maximo v.7)

• Maintenance planning

• Capital and expense project

management, incorporating facility

condition assessments

• Mail, shipping & receiving services

and audio/visual services

• Space planning & moves, adds and

changes

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Capabilities case studies

• International marketer, processor and distributor of agricultural, food, financial and industrial products

• Founded in 1865, the privately held company employs 131,000 people in 66 countries around the world

Cargill

Contract Highlights

• 13 plant locations: 7 Wet Corn Milling; 2 Cocoa & Chocolate; 1 Dressings, Sauces and Oils , 1 Malt, 1 Sweet Bran and 1 Horizon Milling

• 2,400 acres

• 670 DTZ employees

• Contract since 1996

Scope of Services

• Production & facilities maintenance services: mechanical, electrical &

instrumentation, lubrication, HVAC, reliability PM program, welders/fitters,

and mechanical (projects and capital)

• Planning and scheduling

• Maintenance support: insulators and scaffolding services, expediting, transportation, warehousing, tool room, vacuum truck, sweeper truck, plant grounds, process sanitation, janitorial, vehicle/equipment repairs, process cleaning, production maintenance, clean room, rail car movement,

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This presentation and any oral presentation accompanying it: • is not an offer, invitation, inducement or recommendation to purchase or subscribe for any securities in UGL Limited (“UGL”) or

to retain any securities currently held;

• is for information purposes only, is in summary form and does not purport to be complete;

• is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor, potential investor or any other person. Such persons should consider seeking independent financial advice depending on their specific investment objectives, financial situation or needs when deciding if an investment is appropriate or varying any investment;

• may contain forward looking statements. Any forward looking statements are not guarantees of future performance. Any forward looking statements have been prepared on the basis of a number of assumptions which may prove to be incorrect or involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of UGL, which may cause actual results, performance or achievements to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Any forward looking statement reflects views held only as of the date of this presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, UGL does not undertake any obligation to publicly update or revise any of the forward looking statements or any change in events, conditions or circumstances on which any such statement is based.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation and any oral presentation accompanying it. To the maximum extent permitted by law, UGL and its related bodies corporate, and their respective directors, officers, employees, agents and advisers, disclaim and exclude all liability (including, without limitation, any liability arising from fault or negligence) for any loss, damage, claim, demand, cost and expense of whatever nature arising in any way out of or in connection with this presentation and any oral presentation accompanying it, including any error or omission therefrom, or otherwise arising in connection with any reliance by any person on any part of this presentation and any oral presentation accompanying it.

Important notice F

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