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ASX / Media Release 19 October 2021 133 Castlereagh Street Sydney NSW 2000 www.stockland.com T 02 9035 2000 F 02 8988 2552 © Stockland STOCKLAND 1Q22 OPERATIONAL UPDATE REFLECTS MOMENTUM AND PORTFOLIO RESILIENCE Key highlights Communities • • • • Residential net sales volumes up 8 % on 1Q21 to 1,947 lots Residential enquiry remains strong Strategic restocking continues with ~ 5,900 additional lots acquired Retirement Living sales of 156 for 1Q22 in line with expectations Land Lease Communities sales momentum sustained ; on track for ~ 300 settlements in FY22 with Halcyon integration progressing well Commercial Property • • • • Retail rent collection at 75 % before abatements for the quarter ; tenant negotiations re COVID - 19 rent relief underway Total comparable retail sales MAT growth 2.0 % Logistics portfolio occupancy improved to 98.9 % ( Jun - 21 : 98.0 % ) 112,900 sqm leased across the Logistics portfolio 98 % of 1Q22 rent collected across the Workplace and Logistics portfolio Executing our $ 3.9 billion Workplace pipeline with planning progressing during the period 1Q22 Summary Managing Director and Chief Executive Officer , Tarun Gupta said : " While COVID - 19 restrictions impacted various states across the quarter , it has been pleasing to see the strong rise in vaccination numbers across Australia and the resulting steps being taken to re - open impacted state economies . During this quarter we continued to deliver on our key strategic priorities , rebalancing our portfolio to provide future growth while generating stable long - term returns . Our Communities business maintained its strong residential sales momentum with new enquiries remaining elevated . The Commercial Property business saw occupancy rise to 99 % across the Logistics and Retail portfolio . The Group's strong financial position was maintained at the end of the quarter with low gearing and ample liquidity , underpinned by our solid operational business performance . Our strategic review is progressing well and I look forward to updating the market on 8 November 2021. In undertaking the review , we have considered four key long - term drivers that we expect to shape our industry : urbanisation ; the impact of rapid technological advancement ; the continued growth of institutional capital flows ; and the critical importance of environmental , social and governance ( ESG ) . We have continued our focus on sustainability leadership by joining the United Nations Race to Zero and the Business Ambition for 1.5 ° C campaign with a commitment to developing science- based targets through the Science Based Targets initiative . Stockland Corporation Ltd ACN 000 181 733 Stockland Trust Management Ltd ACN 001 900 741 AFSL 241190 as Responsible Entity for Stockland Trust ARSN 092 897 348 1