Charter Hall Retail Reit · ASX:CQR
Charter Hall Retail Reit — FY2026 Earnings Presentation
38 slides from Charter Hall Retail Reit's earnings presentation, Aug 7, 2026
Slide 1: 2026 Full Year Results
Charter Hall Retail REIT 2026 Full Year Results ASX:CQR Charter Hall Retail REIT 2026 Full Year Results
Slide 2: Agenda
Agenda 1. Highlights and Strategy 2. Financial Performance 3. Operational Performance 4. Outlook and Guidance 5. Annexures Charter Hall managed asset NAIDOC Week at 130 Lonsdale Street, Melbourne VIC Acknowledgement of Country Charter Hall acknowledges the Traditional Custodians of the lands on whic
Slide 3: Highlights and Strategy
Highlights and Strategy 1 Charter Hall Retail REIT 2026 Full Year Results Salamander Bay Square Salamander Bay, NSW 3
Slide 4: FY26 highlights
Highlights and Strategy FY26 Property performance Financials Capital management highlights Garden State Hotel, VIC Ampol, Marsden Park, NSW Arana Hills, QLD Property Investment value NTA per unit Balance sheet gearing2 $5.2bn1 $5.03 30.9% High quality convenience retail portfolio +8.4% on June 25 Po
Slide 5: Convenience Retail
Highlights and Strategy CQR Convenience Retail Strategy Convenience Retail To deliver the highest property income and Non-discretionary Strategic locations High quality tenant retail with high visibility, covenants earnings growth from the which is resilient through convenient access and with long t
Slide 6: Charter Hall has Australia's largest convenience retail platform
Highlights and Strategy Charter Hall has Australia’s largest convenience retail platform Fully integrated property model with a nationwide presence for end-to-end service offering $18bn >900 Assets under Convenience retail NT management1 properties 17 QLD 12 169 #1 WA SA Retail specialists Preferred
Slide 7: Delivering on Strategy
Highlights and Strategy Delivering on Strategy Strategic portfolio curation and asset recycling into accretive higher quality assets Acquisitions (2H FY26) Divestments (2H FY26) - Settled on previously disclosed acquisitions: - CQR’s equity interest in Retail Partnership No.6 (RP6) sold to CCRF for
Slide 8: Portfolio curation and diversification
Highlights and Strategy Portfolio curation and diversification Strategic shift to a diverse range of major anchor tenants and rent review mechanisms to underpin income growth in all cycles $6.0b $5.3b Z Energy + Gull LWIP2 $4.8b $5.0b APT1 & APT2 bp NZ $4.3b $4.3b $4.0b $4.0b bp AU $3.6b 53% 22% 25%
Slide 9: Targeted portfolio curation to net lease driving higher income growth and lower capital commitments
Highlights and Strategy Targeted portfolio curation to net lease driving higher income growth and lower capital commitments Underpinned by high-quality tenant covenants 5 year average to FY19 FY26 Shopping centre NPI growth 1.9% 3.0% Net lease NPI growth n/a 3.0% Total NPI growth 1.9% 3.0% Shopping
Slide 10: Strategic shift to net lease retail driving NTA growth
Highlights and Strategy Strategic shift to net lease Equity Equity Value Uplift retail driving NTA growth Investment Value1 Created % $368m $440m $72m 19.6% 2024/2025 2026 Equity IRR 20.6% - Pivot to capital efficient net lease, with asset AU values supported by high underlying land values Australia
Slide 11: Six Year Valuation Cycle
Highlights and Strategy Six Year Valuation Cycle Cap rate compression underway CQR 6 year like-for-like cap rates and valuations1 LFL portfolio valuation - On a like-for-like basis1 weighted average cap growth rates have expanded by the same amount they 8.00% +32.9% $2.5bn compressed between 30 June
Slide 12: Financial Performance
Financial Performance 2 Charter Hall Retail REIT 2026 Full Year Results BP Kings Way South Melbourne, VIC 12
Slide 13: Earnings and Distributions
Financial Performance Earnings and Distributions Look through basis FY25 FY26 % change - Same property portfolio NPI growth of 3.0% $m - Like-for-like convenience shopping centre Net property income from shopping centre retail – LFL 105.4 108.6 3.0% retail NPI growth of 3.0% - Same property convenie
Slide 14: Balance Sheet
Financial Performance Balance Sheet $m Jun-25 Jun-26 - Joint Venture investments increase driven by upweighting investment CH Ampol Partnership 1 Cash 39 23 to 49.9% together with CCRF investment Investment properties 2,369 2,306 - NTA per unit of $5.03 increased by $0.39 or Joint venture investment
Slide 15: Property Valuations
Financial Performance Property Valuations Convenience Convenience Total $m shopping centre net lease portfolio - Portfolio net valuation increase of $248m or retail retail 4.9% driving NTA growth. Shopping centre net June 2025 portfolio value 2,934 1,876 4,810 valuation uplift of $147m together with
Slide 16: Capital Management
Financial Performance Capital Management Balance sheet debt maturity profile1 165.8 - CQR completed the refinance of its balance sheet debt to a secured platform in Feb 26 - Lowered debt margins by 40bps and extend 844.2 weighted average debt maturity 40.0 350.0 - Greater financial flexibility with
Slide 17: Operational Performance
Operational Performance 3 Charter Hall Retail REIT 2026 Full Year Results Waverley Gardens Mulgrave, VIC 17
Slide 18: Portfolio Summary
Operational Performance Portfolio Summary – $5.3bn diversified convenience retail portfolio across shopping centres $2.5bn Convenience retail portfolio snapshot Jun 25 Jun 26 (51% by income) and net lease $2.8bn (49% by income) Value ($bn) 4.8 5.3 – Portfolio occupancy at 99.1% Weighted average cap
Slide 19: Non-discretionary spend supporting resilient cashflows
Operational Performance Non-discretionary spend supporting resilient cashflows Supported by strong tenant covenants Income by category Top 10 tenant customer groups (by base rent) Majors (SC) 22.8% 11.6% Credit Rating: BBB Energy & Convenience 21.7% 10.8% Hospitality 16.7% Credit Rating: BBB+ Food c
Slide 20: Portfolio Value
Operational Performance Portfolio Value Number of Cap rate WALE Rent Convenience Net Lease Portfolio $’m assets (years) review bp Australia 594 215 4.78% 13.5 CPI - Upweight of CQR’s investment in CH Ampol bp New Zealand 159 70 5.02% 14.5 CPI (0.5%-4%) Partnership 1 by $419m GAV ($200m equity) Ampol
Slide 21: Supermarket Anchors
Operational Performance Supermarket Anchors – Supermarkets continued to demonstrate resilience with 3.6% MAT growth Supermarket performance Jun 25 Jun 26 – 89% of supermarkets paying turnover rent or within 10% MAT growth 2.5% 3.6% Supermarkets in turnover1 69% 76% Supermarkets within 10% of turnove
Slide 22: Specialty Tenants
Operational Performance Specialty Tenants Specialty performance1 Jun 25 Jun 26 MAT growth 3.6% 3.2% – 416 specialty leases with spreads of +4.1% Sales productivity (per sqm) $11,356 $11,748 – 145 new leases (+4.7% leasing spread) Specialty occupancy cost 11.4% 10.9% – 271 renewals (+3.9% leasing spr
Slide 23: FY26 Sustainability achievements
Operational Performance Environment Social Governance FY26 Sustainability achievements By integrating sustainability across our platform and Net Zero1 Empowering vulnerable women ESG leadership leveraging our scale, we Operating at Net Zero Scope 1 and Scope 2 $595k spent with Two Good Co. to delive
Slide 24: Outlook and Guidance
Outlook and Guidance 4 Rye Hotel Mornington Peninsula, VIC 24
Slide 25: Outlook and Guidance
Outlook and Guidance Outlook and Guidance CQR has now curated its portfolio to its target 50% shopping FY27 guidance centre and 50% net lease convenience retail FY27 operating earnings FY27 distribution per unit of no less than of no less than Australian Limited Continued 27.3 cpu 26.4 cpu populatio
Slide 26: Annexures
Annexures 5 Charter Hall Retail REIT 2026 Full Year Results Bunnings Toowoomba Toowoomba, QLD 26
Slide 27: Annexures
Annexures Annexures 1 5 Reconciliation of statutory profit to operating earnings Convenience shopping centre MAT analysis 2 6 Investment in geared joint ventures Convenience shopping centre retail portfolio historical performance 3 7 Lease expiry profile Glossary 4 Property portfolio Charter Hall Re
Slide 28: Reconciliation of statutory earnings to operating earnings
Annexures Annexure 1 Reconciliation of statutory earnings to operating earnings1 $m FY25 FY26 Operating Earnings 147.5 153.4 Net revaluation gain on investment properties 144.1 304.8 Straight lining of rental income and amortisation of incentives (16.9) (11.0) Acquisition and disposal related costs
Slide 29: Investments in non-recourse geared JVs
Annexures Annexure 2 Investments in non-recourse geared JVs – operating earnings and equity investment FY26 CCRF bp Ampol 1 HPI LWIP 2 $m Australia Ownership interest 16.1% 50.0% 49.9% 50.0% 28.9% Properties 38 215 204 60 12 June 2026 operating earnings $’m CQR share of operating earnings 17.6 18.3
Slide 30: Lease expiry profile as at June 2026
Annexures Annexure 3 Lease expiry profile as at 30 June 2026 Major tenant expiry profile (by income) 80% 8.9 years 60% 59.0% Major tenant WALE 40% 7.1 years 20% Portfolio WALE 4.6% 5.1% 3.6% 4.4% 6.4% 7.8% 5.7% 3.5% 0% FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35+ 3.9 years Specialty and mini-major
Slide 31: Property portfolio as at June 2026
Annexures Annexure 4 Property portfolio as at 30 June 2026 State Property Location Anchor Tenants NSW CQR Armidale Armidale Woolworths, Kmart Dubbo Dubbo Coles, Kmart Goulburn Goulburn Coles, Kmart Jerrabomberra Jerrabomberra Woolworths Kings Langley Kings Langley Coles Morisset Morisset Coles Mudge
Slide 32: Property portfolio as at June 2026 continued
Annexures Annexure 4 continued Property portfolio as at 30 June 2026 continued State Property Location Anchor Tenants QLD CQR Arana Hills Plaza Arana Hills Coles, Aldi, Kmart Atherton Square Atherton Woolworths Bay Plaza Hervey Bay Woolworths Currimundi Markets Currimundi Woolworths Gatton Square Ga
Slide 33: Property portfolio as at June 2026 continued
Annexures Annexure 4 continued Property portfolio as at 30 June 2026 continued State Property Location Anchor Tenants VIC CCRF Burwood One Shopping Centre Burwood East Coles, Aldi Kmart Campbellfield Plaza Campbellfield Coles, Aldi, Kmart Corio Village Corio Woolworths, Coles, Kmart Mernda Junction
Slide 34: Property portfolio as at June 2026 continued
Annexures Annexure 4 continued Property portfolio as at 30 June 2026 continued Number of State Property Location Cap Rate Book Value ($m) assets bp Australia portfolio Australia 215 4.78% 594 bp New Zealand portfolio New Zealand 70 5.02% 159 Ampol I portfolio Australia 204 4.82% 473 Ampol II portfol
Slide 35: Convenience shopping centre MAT analysis
Annexures Annexure 5 Convenience shopping centre MAT analysis as at 30 June 2026 % of portfolio MAT Sales by category sales growth1 Rental income by specialty and mini-major tenant type Supermarket 62.4% 3.6% DDS 10.7% 2.5% Majors 73.1% 3.4% Food and food catering 9.2% 2.7% Mini-majors Retail servic
Slide 36: Convenience shopping centre retail portfolio historical performance
Annexures Annexure 6 Convenience shopping centre retail portfolio historical performance Jun 16 Jun 17 Jun 18 Jun 19 Jun 20 Jun 21 Jun 22 Jun 23 Jun 24 Jun 255 Jun 265 Value $2.5b $2.8b $2.8b $3.0b $2.8b $2.9b $3.3b $3.2b $2.9b $2.9b $2.5b Occupancy 98.0% 98.0% 98.1% 98.1% 97.3% 98.3% 98.5% 98.6% 98
Slide 37: Glossary
Annexures Annexure 7 Glossary Capex LFL Capital Expenditure Like for Like FY25 JV Twelve months from 1 July 2024 to 30 June 2025 Joint venture FY26 MAT Moving annual turnover calculated as a sum of rolling 12-month sales Twelve months from 1 July 2025 to 30 June 2026 GLA Net lease retail Gross letta
Slide 38: Further information
Further information Investor Relations Tel 1300 365 585 (within Australia) +61 2 8651 9000 (outside Australia) Email reits@charterhall.com.au Presentation authorised by the Board charterhall.com.au/cqr IMPORTANT NOTICE & DISCLAIMER This presentation ("Presentation") has been prepared by and is the s
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