Precinct Properties Nz Ltd & Precinct Properties Investments Ltd · NZX:PCT

Precinct Properties Nz Ltd & Precinct Properties Investments — Precinct Properties New Zealand — Shareholder Meeting (November 2018)

31 slides from Precinct Properties Nz Ltd & Precinct Properties Investments's shareholder meeting presentation, Nov 1, 2018

1. Slide 1: Annual General Meeting

   ANNUAL GENERAL MEETING 1 November 2018

2. Slide 2: Welcome and good morning

   Welcome and good morning Craig Stobo, Chairman

3. Slide 3: Board and Executive

   BOARD AND EXECUTIVE Management Scott Pritchard George Crawford Chief Executive Officer Chief Operating Officer Richard Hilder Davida Dunphy Chief Financial Officer General Counsel and Company Secretary Board Craig Stobo Rob Campbell Chairman and Independent Director Director Don Huse Chris Judd Inde

4. Slide 4: Meeting Agenda

   MEETING AGENDA  Review performance and activity  Shareholder questions and feedback  Consider and vote on four ordinary resolutions

5. Slide 5: Delivering Results

   DELIVERING RESULTS $254.9m net profit after tax +3.6% increase in dividend YoY $1.40 net tangible assets per share, up 13%

6. Slide 6: Focused Strategy

   FOCUSED STRATEGY  City centre specialists − Strong position  Continued growth in earnings  Targeted lift in portfolio quality  Clear direction

7. Slide 7: FY19 Dividend

   FY19 DIVIDEND 6.00cps FY19 dividend guidance 3 December 2018 FY19 Q1 dividend payment +3.4% expected increase in FY19 dividend

8. Slide 8: Sustainability at Precinct

   SUSTAINABILITY AT PRECINCT Reporting to GRI Standards

9. Slide 9: Global Real Estate Sustainability Benchmark

   GLOBAL REAL ESTATE SUSTAINABILITY BENCHMARK  2018 score 69/100 − Above GRESB average − Improvement from 2017

10. Slide 10: Health and Safety

    HEALTH AND SAFETY  Highly material issue − Embedded into all parts of our business  No significant injuries in FY18  75% of recorded incidents classified as minor

11. Slide 11: Enhanced Portfolio

    ENHANCED PORTFOLIO

12. Slide 12: Key Milestones

    KEY MILESTONES  $250 million capital raised  $760 million bank debt refinanced  $191 million of assets sold  99% portfolio occupancy

13. Slide 13: One Queen Street

    ONE QUEEN STREET $298m estimated total project cost 7.0% expected yield on cost 15.0% expected stabilised profit on cost

14. Slide 14: Commercial Bay

    COMMERCIAL BAY $1.0b expected value on completion

15. Slide 15: Opened Aug 2018

    OPENED AUG 2018

16. Slide 16: Program Update

    PROGRAM UPDATE  September 2019 − Retail centre opening  December 2019 − New PwC Tower opening  Precinct remains confident with the provisions of its construction contract

17. Slide 17: Wynyard Quarter Stage Two

    WYNYARDQUARTER WYNYARD QUARTERSTAGE STAGETWO TWO S

18. Slide 18: Bowen Campus

    BOWEN CAMPUS $240m value on completion $37m expected profit on cost 18yr lease to New Zealand Defence Force

19. Slide 19: Premium Office Space

    PREMIUM OFFICE SPACE

20. Slide 20: Generator

    GENERATOR ~80% committed occupancy 9,500sqm space launched during the year +900 Generator members

21. Slide 21: Flexible Space

    FLEXIBLE SPACE  Precinct’s investment  Increasing Demand  Evolving market creating workspaces that meet the requirements of today’s businesses

22. Slide 22: Outlook

    OUTLOOK  Precinct well positioned  Supportive markets  Creating further shareholder value  Strong balance sheet  Continue to advance our strategy

23. Slide 23: Questions & Answers

    QUESTIONS & ANSWERS Please state your name and advise whether you are a shareholder

24. Slide 24: Formal Business

    (i= FORMAL BUSINESS

25. Slide 25: Resolution 1 & 2

    RESOLUTION 1 & 2 Don Huse, FCA Graeme Wong, BCA (Hons) Bus. Admin. INFINZ (Fellow) First Appointed: 1 November 2010 First Appointed: 1 November 2010

26. Slide 26: Resolution 1

    RESOLUTION 1 That Don Huse be re-elected as a director. The Board unanimously recommend that shareholders vote in favour

27. Slide 27: Resolution 2

    RESOLUTION 2 That Graeme Wong be re-elected as a director. The Board unanimously recommend that shareholders vote in favour

28. Slide 28: Resolution 3

    RESOLUTION 3 That the directors be authorised to fix the remuneration of Ernst & Young as auditor for the ensuing year. The Board unanimously recommend that shareholders vote in favour

29. Slide 29: Resolution 4

    RESOLUTION 4 That the directors be authorised to fix the remuneration of the independent directors of the company from 1 November 2018 as per the table shown in note 4 of the explanatory notes set out in the notice of meeting. The Board unanimously recommend that shareholders vote in favour

30. Slide 30: Voting and Close

    VOTING AND CLOSE  We will now proceed to a poll and conclude the meeting  The results will be announced to the NZX

31. Slide 31: Thank you

    Thank you PLEASE JOIN US FOR REFRESHMENTS.

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