Asset Plus Limited · NZX:APL
Asset Plus — Shareholder Meeting (August 2025)
23 slides from Asset Plus's shareholder meeting presentation, Aug 5, 2025
Slide 1: Annual Meeting 2025
Asset Plus Annual Meeting 2025 5 August 2025
Slide 2: Virtual meeting information
Virtual meeting information Registering to vote Click on the ‘Get a voting card’ box at the top of the webpage or below the virtual presentation and webcast. Asking questions Only shareholders are eligible to ask questions. You will only be able to ask a question after you have registered to vote. I
Slide 3: Voting virtually
Voting virtually 1. Click the “Get a Voting Card” button at the top or bottom of the page 2. Enter your CSN/Holder Number or Proxy Number and click “Submit Details and Vote” 3. Fill out your voting card for each item of business 4. Click “Submit Vote” or “Submit Partial Vote.”* Assetplusnz.co.nz 3
Slide 4: Agenda
Agenda A Chairman’s address B Manager’s presentation C Shareholder questions D Resolutions E General business Assetplusnz.co.nz Asset Plus 4
Slide 5: A - Chairman's address
6-8 MUNROE LANE AUCKLAND A - Chairman’s address
Slide 6: B - Manager's presentation
B - Manager’s presentation Assetplusnz.co.nz 6 Asset Plus 6
Slide 7: Overview
Overview 6-8 MUNROE LANE 6-8 MUNROE LANE • AFFO profit of $0.53m ($0.67m loss in FY24) • Total loss for the year net of tax of $5.70m (FY24 loss of $5.30m). • Net rental income of $4.92m, up $1.27m on the previous year. • Result impacted by $7.16m of revaluation losses ($4.90m of losses in FY24). •
Slide 8: Key metrics
Key metrics Portfolio value Properties Occupancy* WALE** Loan-to-value Net tangible ratio assets March 2025 $107.0m 1 65.0% 9.0 years 0.0% 32.4 cps March 2024 $180.8m 2 41.0% 5.9 years 18.2% 38.9 cps ((( *Occupancy is expected to increase to 74% once the lease for part L6 announced on 16 July 2025 c
Slide 9: Significant Activity during the year
Significant Activity during the year 6-8 MUNROE LANE 35 Graham Street settlement occurred on 29 November 2024. All external bank debt repaid post 35 Graham Street settlement. Special dividend of 5 cents per share (CPS) paid on 18 December 2024 Asset Plus 9
Slide 10: Munroe Lane, Albany
6-8 MUNROE LANE Munroe Lane, Albany • The independent valuation as at 31 March 2025 is $107.0m, a reduction from $116.2m. • To date $24.2m of unrealised development losses have been recognised. The total development cost was $131.2 million. • Have secured Aderant for approximately 50% of Level 6, wi
Slide 11: Munroe Lane - leasing update
Munroe Lane - leasing update • Board has approved a partial fit-out of the balance of Level 6, to be implemented concurrently for cost efficiencies. • Direct marketing initiatives remain ongoing to target potential occupiers for the balance of the space. • Floor plates remain flexible – The balance
Slide 12: Outlook
Outlook • Key focus remains on successfully leasing the balance of the Munroe Lane development. Future costs associated with leasing will be funded from available cash reserves. Thereafter, we will look to sell Munroe Lane. • We wish to emphasise that the leasing of Munroe Lane will influence the ti
Slide 13: D - Shareholder Questions
D - Shareholder Questions Assetplusnz.co.nz Asset Plus 13
Slide 14: Shareholder questions
Shareholder questions 1. Click the “Ask a Question” button at either the top or bottom of the page. 2. Click “Text Question”, select the item of business from the drop- down menu and type your question in the space provided. 3. Click “Submit Question” once you have formatted and typed your question.
Slide 15: C - Resolutions
C - Resolutions Assetplusnz.co.nz Asset Plus 15
Slide 16: Re-election of Paul Duffy as a Director
Resolution 1 Re-election of Paul Duffy as a Director Paul Duffy retires under NZX Listing Rule 2.7.1 and, being eligible, offers himself for re-election as a Director of the Company. “That Paul John Duffy be re-elected as a Director of the Company.” Assetplusnz.co.nz 21 Asset Plus 16
Slide 17: Re-election of Bruce Cotterill as a Director
Resolution 2 Re-election of Bruce Cotterill as a Director Bruce Cotterill retires under NZX Listing Rule 2.7.1 and, being eligible, offers himself for re-election as a Director of the Company. “That Donald Bruce Cotterill be re-elected as a Director of the Company.” Assetplusnz.co.nz 21 Asset Plus 1
Slide 18: Auditors' fees and expenses
Resolution 3 Auditors’ fees and expenses “That the Board be authorised to fix the auditor’s fees and expenses from time to time.” Assetplusnz.co.nz 23 Asset Plus 18
Slide 19: Voting instructions
Voting instructions In Room Online Results • Will be conducted via a poll. • To vote, you will need to click • Will be published on Asset Plus’ “Get Voting Card” within the online website and will be announced to • MUFG Corporate Markets will have meeting platform. the NZX this afternoon as soon as
Slide 20: E - General Business
E – General Business Assetplusnz.co.nz Asset Plus 20
Slide 21: General Business
General Business 1. Click the “Ask a Question” button at either the top or bottom of the page. 2. Click “Text Question”, select the item of business from the drop- down menu and type your question in the space provided. 3. Click “Submit Question” once you have formatted and typed your question. Asse
Slide 22: Where to find us
Where to find us Auckland Office Bayleys House Level 2, 30 Gaunt Street Auckland 1010 New Zealand PO Box 37953 Parnell Auckland 1151 Telephone +64 (9) 300 6161 Facsimile +64 (9) 300 616
Slide 23: Important notice
Important notice This presentation contains not only a review of operations, but may also contain some forward looking statements (including forecasts and projections) about Asset Plus Limited (APL) and the environment in which APL operates. Because these statements are forward looking, APL’s actual