Appointment of Ross Lees as CEO and Managing Director of Growthpoint Properties Australia

Appointment of Ross Lees as CEO and Managing Director of Growthpoint Properties Australia

1. Ross Lees appointed as CEO and Managing Director of Growthpoint Properties Australia, effective 1 July 2024.
   
   

2. Ross Lees succeeds Timothy Collyer, who will remain until July 2024 for a smooth transition.
   
   

3. Ross Lees has over 20 years of experience in real estate investment management, with expertise in commercial property markets, funds management, asset management, mergers and acquisitions, and equity capital markets.
   
   

4. Previously, Ross Lees was Head of Funds Management at Centuria Capital Group, growing its funds management platform from $4 billion to over $21 billion under management.
   
   

5. Ross Lees has significantly contributed to the repositioning of Centuria Industrial REIT as Australia’s largest pure-play industrial REIT.
   
   

6. The Board of Growthpoint Properties Australia expresses confidence in Ross Lees' leadership in the company's future growth and value maximization for securityholders.
   
   

7. Timothy Collyer praised for his leadership since 2009, growing GOZ from a $650 million industrial fund to a diversified business with a $4.6 billion portfolio.
   
   

8. Ross Lees' employment terms include a fixed remuneration of $900,000 per annum, participation in short-term and long-term incentive plans, and a sign-on award compensating for forgone incentives from his previous employer.
   
   

9. Growthpoint Properties Australia is an internally managed REIT, focusing on
   high-quality industrial and office properties, with $6.3 billion in total assets under management as of 31 December 2023.

   
   

10. The company is committed to sustainability, targeting net zero by 2025 for its wholly-owned office assets and corporate activities.

This announcement is a summary of the company approved ASX announcement on 06/3/2024.