Apportionment Ratios

Dexus is the collective name of the four trusts that make up the
Dexus (DXS) stapled security.

For capital gains tax purposes, security holders need to apportion the cost of each stapled security and the proceeds on sale of each stapled security over the four trusts that make up the stapled security. This apportionment should be done on a reasonable basis. One basis of apportionment is to use the relative net asset value (NAV) of each of the trusts. (Please note that prior to 30 June 2008, NAV was roughly equal to Net Tangible Assets.)

Using NAV as a basis, the table below outlines the apportionment percentages that will apply to any on or off market buying or selling of DXS stapled securities, or the issue of new DXS stapled securities between the dates specified.

Please note that the correct allocation percentage to be used depends on the relevant date of the specific transaction. Consequently, the allocation percentage relevant for the acquisition of a parcel of DXS stapled securities, (either on or off market, or through the issue of securities), may differ from their disposal percentage. DXS normally announces its Net Tangible Assets for each half and full year end.


Apportionment Percentages of DXS Stapled Securities Since Stapling

Period   Dexus Diversified Trust Dexus Industrial Trust Dexus Office Trust Dexus Operations Trust
6 Oct 2004 - 31 Dec 2004  38.15% 20.88% 40.79% 0.18%
1 Jan 2005 - 30 Jun 2005 37.05% 27.27% 41.47% 0.21%
1 Jul 2005 - 31 Dec 2005 36.82% 21.81% 41.13% 0.24%
1 Jan 2006 - 30 Jun 2006 37.37% 22.09% 40.22% 0.32%
1 Jul 2006 - 31 Dec 2006 37.80% 22.00% 39.80% 0.40%
1 Jan 2007 - 30 Jun 2007 36.19% 20.55% 42.85% 0.41%
1 Jul 2007 - 31 Dec 2007 37.78% 20.97% 41.00% 0.25%
1 Jan 2008 - 30 Jun 2008 35.34% 20.45% 44.04% 0.17%
1 Jul 2008 - 31 Dec 2008 35.48% 19.67% 43.41% 1.47%
1 Jan 2009 - 30 Jun 2009 39.61% 11.47% 47.95% 0.97%
1 Jul 2009 - 31 Dec 2009 39.44% 10.83% 49.36% 0.37%
1 Jan 2010 - 30 Jun 2010 38.18% 9.95% 51.61% 0.26%
1 Jul 2010 - 31 Dec 2010 38.84% 9.28% 51.69% 0.19%
1 Jan 2005 - 30 Jun 2011 37.93% 10.98% 51.09% 0.00%
1 Jul 2005 - 31 Dec 2011 37.88% 11.27% 50.85% 0.00%
1 Jan 2005 - 30 Jun 2012 35.34% 14.19% 47.48% 2.99%
1 Jul 2005 - 31 Dec 2012 35.17% 13.32% 49.01% 2.50%
1 Jan 2005 - 30 Jun 2013 34.67% 13.67% 49.15% 2.51%
1 Jul 2005 - 31 Dec 2013 33.91% 13.90% 49.24% 2.95%
1 Jan 2014 - 30 Jun 2014 33.06% 13.99% 49.83% 3.12%
1 Jul 2014 - 31 Dec 2014 33.35% 14.37% 49.07% 3.21%
1 Jan 2015 - 30 Jun 2015 33.32% 14.39% 48.67% 3.62%
1 Jul 2015 - 31 Dec 2015 32.33% 13.67% 49.86% 4.14%
1 Jan 2016 - 30 Jun 2016 30.67% 12.83% 51.56% 4.94%
1 Jul 2016 - 31 Dec 2016 30.48% 12.47% 52.23% 4.82%
1 Jan 2017 to next NAV  28.98%  11.91% 54.30% 4.81%