GOODMAN GROUP: SCALING DATA CENTER DEVELOPMENT

The 2030 Report | CEO Memo | June 2030

FROM: Macro Intelligence Unit TO: CEO, Board of Directors RE: Data Center Buildout: Capital Deployment & Asset Recycling DATE: June 2030 CLASSIFICATION: Confidential - C-Suite

EXECUTIVE SUMMARY

Goodman has unprecedented opportunity to capture data center demand through industrial property development. Strategic priority: deploy capital aggressively into data center development while recycling logistics assets.

Capital Allocation (FY2030-2032): - Data center development capex: $3-4B annually (hyperscaler partnerships, US expansion) - Logistics asset sales: $2-3B annually (monetize mature, lower-growth assets) - Distributions to unitholders: Maintain/grow (4% yield + capital growth)

STRATEGIC PRIORITY 1: HYPERSCALER PARTNERSHIPS

Partner with hyperscalers (Microsoft, Google, Meta, AWS) to develop dedicated data center facilities.

Models: 1. Development fee model (3-5% of capex) 2. Co-ownership model (retain 20-30% equity, earn distributions) 3. Long-term lease model (ensure anchor tenant)

Capex deployment: $2-3B annually into data center development across US, Australia, Singapore.

STRATEGIC PRIORITY 2: ASSET RECYCLING

Monetize mature logistics portfolios in secondary markets, redeploy capital to data centers.

Targets: Divest $2-3B annually in logistics assets; redeploy at higher yields into data centers.

Expected outcome: Improve distribution yield from 4% to 4.5-5% while funding growth capex.

RECOMMENDATION

Goodman should pursue aggressive data center expansion while disciplining logistics portfolio. This captures secular tailwind and improves returns.

The 2030 Report — Macro Intelligence