Stockland · ASX:SGP
Stockland — H1 2026 Earnings Presentation
29 slides from Stockland's earnings presentation, Feb 16, 2026
Slide 1: 1H26 Results
1H26 Results 16 February 2026
Slide 2: Acknowledgement of Traditional Custodians
Stockland acknowledges the Traditional Custodians and knowledge-holders of the land on which we live, work and play. We recognise and value their continued and inherent connection to land, sea, culture and community. We also pay our respects to their Elders past and present and extend that respect t
Slide 3: Agenda
Agenda Group update Tarun Gupta Managing Director & CEO Financial results Josh McHutchison Chief Financial Officer Investment Management Kylie O’Connor CEO, Investment Management Development Andrew Whitson CEO, Development Summary and outlook Tarun Gupta Managing Director & CEO 1H26 Results 3
Slide 4: Group update
Image to be updated Group update Tarun Gupta Managing Director & CEO Artist impression, Calderwood Alkimos Valley, Beach, , NSW WA
Slide 5: 1H26 results
1H26 results Strategy execution driving strong financial performance Funds From Operations FFO per security NTA per security (FFO) $325m 13.5c $4.25 Investment Up 29.5% on 1H25 Up 28.6% on 1H25 $4.22 at 30 June 2025 Management Development Distribution per security Statutory profit Gearing Portfolio
Slide 6: Driving sustainable growth
Driving sustainable growth Growth drivers Step change in delivery Portfolio weighted to high value sectors Optimise portfolio MPC and LLC sales up 87% - 55% of NFE allocated to Residential and Logistics - Residential1 portfolios ~92,300 land lots Launched four communities across QLD and WA wit
Slide 7: ESG milestone
ESG milestone Achieved net zero scope 1 & 2 emissions1 100% renewable electricity Minimal offsets for residual scope 1 Scalable renewable energy model drives commercially sustainable decarbonisation • Inter-asset energy trading enabling solar from logistics and retail rooftops to power >57% <7% othe
Slide 8: Financial results
Financial results Josh McHutchison Chief Financial Officer Stockland Head Office, Picadilly, NSW
Slide 9: Funds from operations
Funds from operations Significant 2H26 weighting 1H26 ($m) 1H25 ($m) Change (%) • Strong operational performance and new project completions offset by prior period asset Investment Management FFO 296 298 (0.6)% transfers into partnerships and disposals Development FFO 106 36 >100% • Strong MPC contr
Slide 10: Capital management
Capital management Disciplined capital management Key Metrics 1H26 FY25 • Substantial available liquidity of ~$2.1bn Available liquidity (cash and undrawn facilities) $2.1bn $2.9bn • Disciplined and active capital management with stable Gearing1 28.1% 25.2% WACD2 of 5.2% and WADM of 4.8 years Gearin
Slide 11: 1H26 operating cashflows
1H26 operating cashflows Operating Cashflow1 Operating Cashflow before land acquisitions1 Prudent cashflow management: $(315)m $(180)m • 1H26 distribution reflects a payout ratio of 67% of $(187)m in 1H25 $(81)m in 1H25 post-tax FFO • 1H26 operating cashflow reflects: Cash movements between FY25 and
Slide 12: Investment Management
Investment Management Kylie O’Connor CEO, Investment Management Stockland Gables, NSW
Slide 13: Investment Management
Investment Management Strong performance from actively managed high-quality portfolio • Strong comparable1 FFO growth of 3.7% driven by: - 7.0% comparable1 FFO growth in Logistics and 3.2% comparable1 FFO growth in Town Centres - Positive re-leasing spreads negotiated across Logistics, Workplace and
Slide 14: Logistics
Logistics Continued strong growth from well-located metropolitan assets • Comparable1 FFO growth of 7.0%, driven by: - Positive re-leasing spreads2 of 32.0% on new leases and renewals negotiated year to date - ~226,000 sqm of leases executed year to date Portfolio value • Portfolio FFO reflects: - N
Slide 15: Town Centres
Town Centres Another period of strong operational performance $m 1H26 1H25 • Comparable6 FFO growth of 3.2% Town Centres FFO $164m $158m • FFO reflects operational growth across the portfolio and Stockland Gables, NSW Portfolio value $4,765m $4,532m development completion Occupancy1 99.0% 99.1% • Re
Slide 16: Workplace
Workplace Maintaining development optionality • Comparable1 FFO growth of 1.1%, reflects: - Increased vacancy at assets being repositioned for development - Recently stabilised buildings A & B at MPark Stage 1, NSW Portfolio value • - 100% occupancy at 16 Giffnock Avenue, Macquarie Park, NSW Portfol
Slide 17: Communities Rental Income
Communities Rental Income Growing high quality income streams • Comparable1 FFO growth of 2.1% reflects small size of comparable basket (6 of 11 operational LLC communities, all with CPI-based review structures) and an increase in statutory operating costs • Rental income of $12m, up ~10% on the pri
Slide 18: Investment Management valuations
Investment Management Valuations underpinned by resilient, diversified portfolio Net valuation movement $81m 1,2 Logistics Town Centres Workplace 29% of assets by value independently revalued during 1H26 0.8% increase on 30 June 2025 book value Net valuation movement1: Net valuation movement1: Net d
Slide 19: Development
Development Andrew Whitson CEO, Development Yennora Sienna Wood Distribution Future TownCentre, Centre,NSW , WA
Slide 20: Development
Development MPC underpins significant growth; FFO weighted to 2H26 • Development FFO underpinned by strong performance in MPC and solid fee income from partnerships • MPC settlements of 3,1681 lots at 18.1% development operating profit margin Residential pipeline5 • LLC settlements of 254 homes at 1
Slide 21: Masterplanned Communities
Masterplanned Communities Strong uplift in settlements • Delivered 3,168 settlements; up ~60% on prior corresponding period - Growth driven by expanded portfolio and strong underlying conditions across most markets - Includes 1,809 settlements under joint venture or project development agreements F
Slide 22: Masterplanned Communities sales momentum
Masterplanned Communities Sustained sales momentum Net sales by quarter • Net sales of 4,441, up 87% on the prior corresponding period: Net sales by quarter 2,324 - NSW reflects timing of releases and wholesale transactions; volumes expected to 2,117 remain constrained by supply and affordability ch
Slide 23: Australian residential market
Australian residential market 12-month outlook State Price Volumes Market commentary Market outlook • Activity reflects underlying demand amid tight supply conditions, Housing conditions have improved, supported by first-home NSW affordability constraints remain buyer participation and structural un
Slide 24: Land Lease Communities
Land Lease Communities Contracts on hand up ~60%1 • Delivered 254 home settlements, in line with the prior corresponding period FFO EBIT4 • Settlements weighted to 2H26 reflecting timing of settlements from five new communities launched in FY25 • No transfers into partnerships during the period $23m
Slide 25: Land Lease Communities
Land Lease Communities Activation and strong demand driving increased sales • Net sales of 493 homes, up 81% versus prior corresponding period: Net sales by quarter - Reflects increased activation and strong customer demand 287 13 • Actively trading from 16 projects: 206 - Halcyon Yandina and Halcyo
Slide 26: Commercial development
Commercial development Progressing ~$16bn1 development pipeline Logistics Town Centres Community Real Estate Workplace/Mixed Use ~$9.7bn1 ~$0.7bn1 ~$0.5bn1 Future opportunities Greenfield and infill brownfield projects in Essentials-based amenity across MPC and Emerging portfolio of build-to-hold St
Slide 27: Summary and outlook
Summary and outlook Tarun Gupta Managing Director & CEO Springfield Rise, QLD
Slide 28: Summary and guidance
Summary and guidance Summary • Disciplined execution of strategy driving strong operational and financial outcomes • Optimised portfolio weighted to high value sectors - 55% of NFE allocated to Residential and Logistics - Extending the platform through longer term growth opportunities: Data Centres
Slide 29: Important Notice
Important Notice This Presentation and its accompanying Annexures (“Presentation”) has been prepared and issued by Stockland Corporation Limited (ACN 000 181 733) and Stockland Trust Management Limited (ACN 001 900 741; AFSL 241190) as Responsible Entity for Stockland Trust (ARSN 092 897 348) (“Stoc