Slide 1: FY26 Results Presentation
FY26 RESULTS PRESENTATION 25 AUGUST 2026 A MILESTONE MEASURED
Slide 2: Agenda
ABACUS GROUP FY26 RESULTS Agenda 01 Overview 02 Key financial metrics and capital management 03 Operating performance 04 Outlook and guidance Steven Sewell, Evan Goodridge, Kevin George, Steven Sewell, Managing Director CFO Group General Manager - Managing Director Commercial & Fund Manager ABG Abac
Slide 3: FY26 Metrics
FY26 METRICS TOTAL ASSETS WEIGHTED AVG GEARING NET TANGIBLE OCCUPANCY2 GGGGG CAP RATE1 S ASSETS GGGGGG $2.5bn 6.70% 36.2% $1.59ps 91.2% 5.1% on FY25 7bps on FY25 170bps on FY25 7.6% on FY25 90bps on FY25 STATUTORY LOSS FFO FFO PER SECURITY DPS3 LEASING DEALS4 $74.5m $81.2m 9.08cps 8.50cps
Slide 4: Strategy in Action
ABACUS STRATEGY: PRIMED FOR ACCELERATION A focused Commercial REIT with a path to sustainable income growth Post-ASK internalisation, Abacus Group is accelerating its Simplified structure strategy to unlock new opportunities • Concentrate on select Commercial real estate sectors that Sector manageme
Slide 5: Key Business Priorities
KEY BUSINESS PRIORITIES Disciplined execution to simplify the business, strengthen the platform and position for sustainable earnings growth Simplify Strengthen Grow • Pure play Commercial REIT structure • Continue to optimise organisational efficiencies IMMEDIATE • Focus on East Coast Commercial ma
Slide 6: FY26 Highlights
99 Walker Street, North Sydney NSW FY26 HIGHLIGHTS Solid operating performance across Commercial sectors, alongside the completion of a significant corporate transaction Office Retail Platform efficiencies Corporate Transactions +5.5% +8.4% -5.0% ~$3.9bn entity Leasing spreads growth Leasing spreads
Slide 7: Key Financial Metrics & Capital Management
KEY FINANCIAL METRICS & CAPITAL MANAGEMENT EVAN GOODRIDGE 459 - 471 Church Street, Richmond VIC
Slide 8: Operating Earnings Summary
OPERATING EARNINGS SUMMARY Includes FY26 FY25 Change Comments FY27 Impact Driven by rent reviews and leasing spreads, offset by reduced surrender fees of Office operating earnings1 89.6 92.6 (3.2%) $0.9m (FY25: $8.3m) Retail LFL operating earnings1 30.0 28.7 4.5% Driven by rent reviews and leasing s
Slide 9: FY26 Balance Sheet Allocation
FY26 BALANCE SHEET ALLOCATION 30 June 2026 30 June 2025 $ 2.5bn 59% OFFICE $1.4bn 18% RETAIL $0.4bn 14% ASK $0.3bn 9% OTHER $0.2bn Total Assets $ 2.6bn 56% OFFICE $1.5bn 16% RETAIL $0.4bn 18% ASK $0.5bn 10% OTHER $0.3bn Total Assets Office $1,448m 13 properties1 Office $1,457m 14 properties Retail $
Slide 10: Capital Management
CAPITAL MANAGEMENT Sufficient liquidity with over $150 million in acquisition capacity NTA1 Total assets Funding capacity2 FY26 avg. cost of debt3 Gearing4 Debt term to maturity $1.59ps $2.5bn >$150m 4.5% 36.2% 3.2yrs DRAFT Debt expiry profile Interest rate hedging – Hedging profile expiry drawn deb
Slide 11: Valuation Update
99 Walker Street, North Sydney NSW VALUATION UPDATE Commercial portfolio valuation uplift driven by improving fundamentals and cap rate compression across Office and Retail Commercial $36m $5m $1,826m $1,802m $19m ($36m) FY25 investment Net income Cap rate Capex & Acquisition FY26 investment propert
Slide 12: Operating Performance
OPERATING PERFORMANCE KEVIN GEORGE 710 Collins Street, Melbourne VIC
Slide 13: Office Snapshot
OFFICE SNAPSHOT Portfolio of 13 Office assets valued at $1.4 billion as at 30 June 2026 OCCUPANCY1 WALE1 LEASING DEALS2 LFL RENT GROWTH1,3 89.2% 3.6yrs 71 2.0% FY25: 91.1% FY25: 3.6yrs FY25: 89 FY25: 4.3% WACR A-GRADE BUILDINGS4 CUSTOMERS2,5 SME CUSTOMERS2,5,6 6.80% 76% 315 59% FY25: 6.82% FY25: 77%
Slide 14: Office Portfolio
OFFICE PORTFOLIO Predominantly an A-grade portfolio in premium locations underpinned by a diversified SME customer base Market profile: Geography1 Melbourne Brisbane CBD Sydney CBD & Fringe Other 2 CBD & Fringe & Fringe 94% exposed to Asset profile: Grade1 the Eastern Seaboard1 A B+ Development & As
Slide 15: Office Leasing Metrics
OFFICE LEASING METRICS Improved customer NPS of +35 (FY25: +27) supported positive leasing outcomes 46,628 33% 5.5% 3.6% $836psm sqm leased1 average gross net face leasing average rent average net face incentive spreads review rent2 FY25: 44,458 sqm FY25: 33% FY25: 5.8% FY25: 3.7% FY25: $810psm 53%
Slide 16: Office Leasing Expiry
OFFICE LEASING EXPIRY1 Manageable near-term lease expiry profile NSW QLD VIC SA ACT 27% 65% vacant Office area fitted2 18% 15% 13% 11% 11% 5% Vacant Short Term FY27 FY28 FY29 FY30 FY31+ Major Vacancies: Major Expiries: Major Expiries: Major Expiries: Major Expiries: Major Expiries: Major Expiries: 7
Slide 17: Retail Snapshot
RETAIL SNAPSHOT Portfolio of 2 Retail assets (1 centre and 1 CBD asset) valued at $0.4 billion as at 30 June 2026 OCCUPANCY WALE NET FACE LEASING SPREADS 97.4% 4.8yrs 8.4% FY25: 95.5% FY25: 5.2yrs FY25: 3.1% LFL RENT GROWTH WACR AVG. RENT REVIEW 4.4% 6.25% 3.6% FY25: 3.5% FY25: 6.46% FY25: 3.9% Myer
Slide 18: Outlook and Guidance
OUTLOOK AND GUIDANCE STEVEN SEWELL 459 - 471 Church Street, Richmond VIC
Slide 19: Outlook & Guidance
OUTLOOK & GUIDANCE Abacus Group FY27 Guidance Owning and managing an Active customer focused asset management driving better • Abacus Group FY27 distribution guidance of 6.70 cents per Australian eastern leasing and income growth security seaboard focused Outlook • Targeting a full year payout ratio
Slide 20: Contents
CONTENTS STATUTORY EARNINGS RECONCILIATION SLIDE 21 PROFIT AND LOSS OVERVIEW SLIDE 22 BALANCE SHEET OVERVIEW SLIDE 23 DEBT FACILITIES SLIDE 24 INVESTMENT PORTFOLIO METRICS SLIDE 25 ESG SLIDE 26 COMMERCIAL PORTFOLIO SLIDE 27 GLOSSARY SLIDE 28 IMPORTANT INFORMATION SLIDE 29 77 Castlereagh Street, Sydn
Slide 21: Statutory Earnings Reconciliation
STATUTORY EARNINGS RECONCILIATION Performance metrics ($m) FY26 FY25 Term Definition Statutory profit (74.5) 26.9 Fair value adjustments 120.1 31.9 FFO is in line with the PCA’s definition and comprises net profit/loss Depreciation, amortisation & impairment 18.6 4.1 after tax attributable to staple
Slide 22: Profit and Loss Overview
PROFIT AND LOSS OVERVIEW Performance metrics ($m) FY26 FY25 Comments Rental income 163.4 168.4 Rental growth offset by divestment of assets and reduced surrender fees Fee, finance and other income 24.2 23.7 Increase driven by higher ASK gross asset value Share of profit from equity accounted investm
Slide 23: Balance Sheet Overview
BALANCE SHEET OVERVIEW FY26 FY25 Investment properties $1,825.5m $1,801.8m PP&E, equity and other investments, financial and other assets $534.8m $671.5m Loans $49.1m $55.9m Cash and cash equivalents $46.0m $23.9m Goodwill and intangibles - $32.4m Deferred tax assets $2.2m $2.9m Total assets $2,457.
Slide 24: Debt Facilities
DEBT FACILITIES Capital management metrics FY26 FY25 Comments Total bank debt facilities $1,136m $1,136m Total bank debt drawn $925m $910m 3.6yrs on fully drawn basis (FY25: 3.8yrs) extension of facilities by one year at Term to maturity 3.2yrs 3.3yrs reduced costs Interest rate hedging 81% 80% Weig
Slide 25: Investment Portfolio Metrics
INVESTMENT PORTFOLIO METRICS Portfolio metrics FY26 Office Retail ASK Other1 Total Investment portfolio sector diversification Value ($m) 1,448 434 348 228 2,458 No. of assets 13 2 - 2 17 Office 59% NLA2,3 (sqm) 142,398 45,205 - - 187,603 Retail 18% WACR (%) 6.80 6.25 - - 6.68 ASK 14% Other 9% Occup
Slide 26: ESG Focus
ESG FOCUS To concentrate on select real estate sectors that deliver long term and sustainable outcomes through active investment and asset management with a strong focus on customer awareness Minimising our environmental Emission intensity: impact through conservation of Cultivating strong 79% in
Slide 27: Commercial Portfolio
COMMERCIAL PORTFOLIO $1.9bn portfolio, 96% exposed to the Eastern Seaboard 23% QLD $ 453 million Office 2 $233m 17 Retail 1 $220m 44% NSW $ 863 million Assets QLD Office 5 $796m 3 Other1 2 $67m SA 2% ACT 1 NSW $ 26 million ACT 7 Office 1 $26m 1 4% SA VIC 27% VIC 5 $ 522 million $ 85 million Office 1
Slide 28: Glossary
GLOSSARY TERM DEFINITION TERM DEFINITION ABG Abacus Group LFL Like for like ASK Abacus Storage King (Changed to Storage King Group (ASX:SKG) post balance date) NABERS National Australian Built Environment Rating System ASX Australian Securities Exchange NLA Net lettable area CBD Central business dis
Slide 29: Important Information
IMPORTANT INFORMATION The information provided in this document is general, and may not be suitable for the specific purpose of any user of this document. It is not financial advice or a recommendation to acquire Abacus Group securities (ASX:ABG). Abacus Group believes that the information in this d