Forestry Industry FIRST Super Industry Development Conference Australian Stories: new thinking delivering added value

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1 Forestry Industry FIRST Super Industry Development Conference Australian Stories: new thinking delivering added value 30 October 2012

2 The IFM Story: Australia and US/Europe IFM manages $37 billion across 4 asset classes in 3 of the 4 largest pension markets in the world. IFM AUM BY ASSET CLASS $Bn, 30 September 2012 Private Equity $37b Debt 11 2 Infrastructure 12 Listed Equities 12 * FUM figures at 30 September Page 2

3 Delivering added value to... And through... A range of leading wholesale investor brands that have a long term investment focus. 32 of them are shareholders, which provides for a unique ownership structure a philosophical alignment that ultimately focuses on the member investor. Superannuation funds Non-super investment funds Government authorities Universities Not-for-profit foundations US Taft-Hartley funds US endowment funds... Including our 72,000 members of FIRST Super Page 3

4 Our investors decision making Awareness Portfolio Weighting Diversification Entry Strategy Super Fund Decision Making Fund Flows Risk/ Return Performance Liquidity Page 4

5 Further IFM investment considerations Brownfield / Greenfield scope to expand private sector investment through further privatisation Failure of markets to deal with long time horizon contributes to lack of private sector investment in greenfield... (Department of Agriculture, Fisheries and Forestry) Scale Infrastructure Australia (October 2012 report) estimated approximately $1bn of plantation forestry remain in public hands and could be privatised. Ownership IFM & Industry Expert Partnership. Page 5

6 Drivers of Change Impacting new thinking and added value Tailwinds Large and growing pool of capital Increasing structural alignment of managers to assets / projects Low bond and cash rates globally Consultant and fund awareness and support Global Interest Headwinds Member switching Liquidity requirements Return objectives and risk appetite Supply of quality deals Costs Funds level Manager level Due Diligence and success rate Perception of Privatisation Net: a large pool of growing capital with increased appetite yet conservative risk/return expectations. Page 6

7 Contact Brett Himbury Chief Executive Director Phone: +61 (0) IFM Offices Melbourne Level 29 Casselden 2 Lonsdale Street Melbourne, VIC 3000 Australia Sydney Level 2, 50 Pitt Street Sydney, NSW 2000 Australia London Tower 42, Level Old Broad Street London EC2N 1HQ United Kingdom New York 99 Park Avenue Suite 1920 New York NY USA The following disclaimer applies to this document and any information provided regarding the information contained in this document (the Information ). By accepting this document and Information, you agree to be bound by the following terms and conditions. The Information does not constitute an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities in any jurisdiction and neither this presentation nor anything in it shall form the basis of any contract or commitment. This Information is provided to you on the basis that you warrant that you are a wholesale client or a sophisticated investor or a professional investor (each as defined in the Corporations Act 2001 (Cth)) to whom a product disclosure statement is not required to be given under Chapter 6D or Part 7.9 of the Corporations Act 2001 (Cth). Industry Funds Management Pty Ltd ( IFM ) shall have no liability, contingent or otherwise, to any user of the Information or to third parties, or any responsibility whatsoever, for the correctness, quality, accuracy, timeliness, pricing, reliability, performance or completeness of the Information. In no event will IFM be liable for any special, indirect, incidental or consequential damages which may be incurred or experienced on account of an attendee using Information even if it has been advised of the possibility of such damages. Certain statements in the Information may constitute forward looking statements. These statements involve subjective judgement and analysis and reflect IFM s expectations and are subject to significant uncertainties, risks and contingencies outside the control of IFM which may cause actual results to vary materially from those expressed or implied by these forward looking statements. Attendees are cautioned not to rely on such forward looking statements. This Information does not constitute investment, legal, accounting, regulatory, taxation or other advice and the Information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and for making your own independent assessment of the Information. This Information is confidential and should not be distributed or provided to any other person without the written consent of IFM. IFM strives to minimise its greenhouse gas emissions and offsets a large majority of its carbon footprint by the purchase of GreenPower and Renewable Energy Credits from accredited Australian renewable energy projects. Industry Funds Management Pty Ltd, ABN , AFS Licence No Industry Funds Management (Nominees) Limited, ABN , AFS Licence No , RSE Licence No. L IFM Infrastructure Funds, ABN IFM International Private Equity Fund I, ABN IFM International Private Equity Funds, ABN IFM International Private Equity Fund III, ABN IFM Listed Equity Funds Pooled Superannuation Trust, ABN Industry Funds Management (UK) Limited, Company No , FSA Licence No IFM Global Infrastructure (UK) GP Limited, Company No Industry Funds Management (US), LLC IFM (US) Investment Advisor, LLC, CRD No , SEC File No IFM Global Infrastructure (US) GP, LLC