Slide 1: FY26 Results
FY26 Results 19 August 2026 For People. For Community. For Something Better.
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: FY26 Result
FY26 Result Tarun Gupta Managing Director & CEO Cloverton, VIC
Slide 4: FY26 Results highlights
FY26 Results highlights Strong FFO and NTA uplift; positioned for growth in FY27 Delivered in FY26 Funds From Operations (FFO) FFO per security Strong FFO ps growth Scaled partnerships $892m 36.9c FY26 FFO per security at top end of Expanded partnership platform and guidance range management income
Slide 5: Delivering strong performance; executing on strategy
Delivering strong performance; executing on strategy Progressing strategic priorities Step-change in delivery Increasing activation of residential pipeline ✓ Multiple drivers of future growth embedded Optimise ✓ MPC and LLC sales up 53% - Majority of NFE allocated to Residential and Logistics portfo
Slide 6: Strategic execution driving returns
Strategic execution driving returns Funding growth, enhancing ROIC and market position Not for further distribution. DRAFT for discussion Total AUM1 and Stockland NFE ($bn) Management fee income ($m) Return on Invested Capital (ROIC)(%) FY24 FY25 FY26 21.9 Recurring ROIC 2% 7% 7% 119 19.4 16.8 7.0 9
Slide 7: Sustainability, People and Customer
Sustainability, People and Customer For People. For Community. For Something Better. Global external recognition Safety performance Scope 1&2 emissions2 Social value creation3 AA ‘Leadership’ MSCI ESG Rating 1.83 LTIFR1 Net Zero $800.6m Down from 2.1 (FY25) Achieved in FY26 Since FY24 Top 10% REITs
Slide 8: Financial Result
Financial Result Josh McHutchison Chief Financial Officer Stockland Momenta, NSW
Slide 9: Funds from operations
Funds from operations FFO per security at top end of guidance range FY26 FY25 Change ($m) ($m) (%) • Comparable1 FFO growth 3.5%; $650m build-to-hold development completions (SGP Investment Management FFO 606 591 2.6 share); $1.8bn asset recycling across FY25 and FY26 • Step-change in settlement vol
Slide 10: Financial result – Investment Management
Financial result – Investment Management Quality performance from enhanced portfolio Investment Management FY26 FFO FY25 FFO Change Comparable1 ($m) ($m) (%) growth (%) • Development completions and strong operational growth partly offset by transfers of assets Logistics 179 172 3.8 8.1 into partner
Slide 11: Financial result – Development
Financial result – Development Step-change in delivery driving results Development FY26 FFO FY25 FFO Change Operating ($m) ($m) (%) margin (%) • Settlements up 30% to 8,902 lots; lower superlot contribution than FY25; increased Masterplanned Communities1 535 523 2.4 21.22 proportion of third-party r
Slide 12: Strong cash generation and capital position
Strong cash generation and capital position FY26 FFO vs operating cash flow Operating cash flow of $876m, reflecting: 892 47 876 195 • Strong 2H26 cash generation ($1.19bn vs -$315m for 1H26) due to timing of MPC and LLC settlements and development spend -172 -86 • Slight reduction in Development NF
Slide 13: Disciplined, active approach to capital management
Disciplined, active approach to capital management Capital raised and recycled ($m) Balance sheet gearing (%)3 Funds from operations and Distributions (cps) 2.8 2.3 1.1 36.9 33.0 33.9 0.7 0.7 0.4 25.2 1.0 24.1 22.7 24.6 25.2 25.2 0.7 1.0 1.1 0.2 0.1 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 Capit
Slide 14: Operational Update
Operational Update Tarun Gupta Managing Director & CEO Stockland Shellharbour, NSW
Slide 15: Clear sector focus and proven business model
Clear sector focus and proven business model Strong execution positions portfolio for sustainable growth INVESTMENTS RESIDENTIAL FOR SALE Australia’s leading residential platform $10.4bn $16.3bn1 $36.4bn1 platform weighted to development pipeline development pipeline high-quality logistics deliverin
Slide 16: Investment portfolio and growth pipeline
Investment portfolio1 and growth pipeline Retail and Logistics portfolios underpinning growth; substantial development upside Retail portfolio: continued sales and income growth Retail FY26 FY25 Logistics FY26 FY25 • Comparable2 NOI growth of 3.1% underpinned by strong leasing spreads Occupancy8 99.
Slide 17: Residential for sale
Residential for sale Market leading platform – record settlements Masterplanned Communities MPC net sales by quarter MPC development revenues ex GST ($m) • Delivered 8,902 settlements, up ~30% on FY25 and above target range of 7,500 – 8,500: NSW/ACT QLD VIC WA SGP - Strong 4th quarter; better than a
Slide 18: Land Lease Communities
Land Lease Communities Market leading platform – sales up 88%; contracts on hand up 76% • Delivered 777 home settlements, up 48% on FY25 LLC net sales by quarter LLC development revenues ex GST ($m) • Net sales of 1,080 homes, up 88% on FY25, reflects increased activation and strong demand NSW QLD V
Slide 19: Data Centres
Data Centres Significant earnings growth potential Stockland EdgeConneX Data Centres partnership • Combines Stockland’s land, development and investment management expertise with EdgeConneX’s operational experience, technical capabilities and hyperscaler relationships • EdgeConneX is a leading provi
Slide 20: Indicative value creation
Data Centres Programmatic growth in well-located sites ~450MW1 of secured power across three sites; progressing final planning approvals Indicative value creation catalysts SGP Current Power Property Target customer interest usage secured MPark Stage 2, NSW 100% Workplace land ~100MW Cloud/Co-locati
Slide 21: Data Centres: Clear funding and return pathways
Data Centres Clear funding and return pathways Funding and capital allocation Indicative DC funding and value creation (total cost = $100: assuming 50% SGP equity) • 50/50 Joint Venture with EdgeConneX $150 • Stockland owned land vended into the partnership at market value - Comprises a portion of e
Slide 22: Summary and guidance
Summary and guidance Outlook Guidance • Disciplined execution has positioned Stockland for sustainable growth • All forward looking statements remain subject to no material change in market conditions • Growth from other parts of the business expected to more than offset lower MPC FFO contribution i
Slide 23: FY26 Annexure
FY26 Annexure 19 August 2026 For People. For Community. For Something Better.
Slide 24: Stockland quick facts – as at 30 June 2026
Stockland quick facts – as at 30 June 2026 Investment Management NFE1 Development NFE1 $10.4bn $4.5bn Retail 34% 19 $5.0bn Portfolio weighting3 Assets Net funds employed Logistics 27% 23 $4.0bn Portfolio weighting3 Assets Net funds employed Workplace 11% 7 $1.7bn Portfolio weighting3 Assets Net fund
Slide 25: Strategic targets
Strategic targets Target FY26 Sector by capital allocation1 Logistics and Workplace 30-50% 38% Residential (for sale and ownership) 20-35% 27% Retail 20-30% 34% Other2 0-5% 1% Capital allocation by activity1 Recurring 70-80% 73% Development 20-30% 27% Income mix1 Recurring3 60% 61% Development3 40%
Slide 26: Group financials - Profit summary
Group financials - Profit summary The table below shows the EBIT, Interest and Tax components of FFO, including Stockland's share of joint ventures, and Statutory profit $m FY26 FY25 Change Segment EBIT (before interest in COGS): Investment Management 594 578 2.7% Development EBIT 758 571 32.7% Cons
Slide 27: Statutory profit to FFO and AFFO reconciliation
Group financials - Statutory profit to FFO and AFFO reconciliation $m FY26 FY25 Change Statutory profit 994 826 20.2% Adjusted for: Amortisation of lease incentives and lease fees 86 94 (8.1)% Straight-line rent (1) (27) (98.1)% Net change in fair value of Investment Property (202) (220) (8.0)% Net
Slide 28: Stockland Corporation income tax reconciliation
Stockland Corporation income tax reconciliation FY26 FY25 Net profit/(loss) before tax 1,036 881 Less: Trust profit and Intergroup eliminations (826) (700) Corporation profit/(loss) before tax B 210 181 Prima facie tax benefit/(expense) @ 30% (63) (54) Tax effect of permanent differences: Non-deduct
Slide 29: Group financials - Debt and hedging profile
Group financials - Debt and hedging profile Debt maturity profile1 Bank - Drawn DMTNs and Commercial Paper EMTNs USPP Bank - Undrawn $1,000m $500m $0m FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 Interest Rate Hedge Profile2 $4.0bn 4.4% Facility limit Drawn 4.1% A$m A$m Net Fixed Debt $3.5bn 4.
Slide 30: Capitalised interest and interest expensed to COGS
Capitalised interest and interest expensed to COGS Capitalised interest ($m) vs interest expensed to cost of goods sold MPC LLC Commercial Apartments • The gap between interest capitalised to the balance sheet and interest expensed through COGS narrowed to $36m in FY26 (FY25: $101m) on a look-throug
Slide 31: Management fee income (IM and Dev)
Management fee income (IM and Dev) Growth Drivers Management fee income by sector Management fee income by type (Development and IM) FY26 FY25 Partnership AUM1 $6.4bn $4.1bn Commercial IM DM 22% IM 24% Comprises fees Fees driven by MPC & LLC 3rd Party Dev Revenue $1,252m $718m for third party third
Slide 32: Investment Management - Funds from operations
Investment Management - Funds from operations Investment Investment Communities Investment Logistics Workplace Retail Management Management Rental Income Management Fee Income Net Overhead $m FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 Operating EBIT 142 120 80 93 297 317 2
Slide 33: Investment portfolio – key metrics
Investment portfolio – key metrics Retail Logistics Workplace Retail portfolio1 FY26 FY25 Logistics portfolio1 FY26 FY25 Workplace portfolio1 FY26 FY25 FFO comparable growth2 3.1% 3.2% FFO comparable growth7 8.1% 7.1% FFO comparable growth7 (1.0)% (2.2)% Occupancy3 99.0% 99.1% Occupancy4 97.5% 97.8%
Slide 34: Investment Management valuations
Investment Management valuations Net valuation movement $264m 1,2 Logistics Retail Workplace 76%3 of assets by value independently revalued during FY26 2.5% increase on 30 June 2025 book value Net valuation movement1: Net valuation movement1: Net devaluation movement1: +$117m, +3.4% +$199m, +4.2% $(
Slide 35: Logistics performance
Logistics performance Occupancy and lease expiry by income1 FFO movements between FY25 and FY26 $7m Assets by location FY26 FY25 16 (22) Occupancy 97.5% 97.8% 13 WALE 3.7 yrs 3.1 yrs VIC Leasing spreads 33.8% 29.4% 26.7% Lease expiry profile1 Portfolio value FY31+ 44.3% 172 179 $3.4bn2 NSW 54.2% FY3
Slide 36: Workplace performance
Workplace performance Occupancy and lease expiry by income1,2 FFO movements between FY25 and FY26 $3m Assets by location FY26 FY25 1 QLD VIC 3.2% 86.6% 91.1% 4.4% Occupancy 2 WALE 6.2 yrs 6.0 yrs Leasing spreads 5.5% 5.4% Lease expiry profile1,2 Portfolio value FY31+ FY30 5.0% 52.2% 111 114 $1.6bn3
Slide 37: Retail performance
Retail performance Diversified rental income, non-discretionary focus1 To 30 June 2026 Total portfolio Comparable centres2 Apparel and Jewellery 18% 2H26 Retail sales by MAT MAT MAT $m growth on Specialty Food / Catering 15% category growth growth 2H25 Other Retail 15% Total 5,132 4.3% 3.1% 2.7% Min
Slide 38: Retail – market environment
Retail – market environment Monthly Household Spending Indicator1 Consumer sentiment2 YOY Growth (%) Rolling 12-Month (MAT) Growth (%) 130 40% 30% 120 20% 110 10% 100 0% 90 (10)% (20)% 80 (30)% 70 2019 2020 2021 2022 2023 2024 2025 2026 2009 2011 2013 2015 2017 2019 2021 2023 2025 Employment growth
Slide 39: Land Lease Communities performance
Land Lease Communities performance Total established home sites FFO movements between FY25 and FY26 $3m2 Established home sites by location FY26 FY25 Total 3,892 3,325 0 WA (1) 2% - 100% Stockland1 1,382 1,415 VIC NSW 13% 1% 4 - In partnership 2,510 1,910 Total home sites Occupancy 24 3,892 FY26 FY2
Slide 40: Top tenants by income
Top 10 tenants by income Retail Logistics Workplace Rank Tenant Portfolio Tenant Portfolio Tenant Portfolio 1 Woolworths Group Limited 7.0% DP World Landside Pty Ltd 4.7% Optus Administration Pty Ltd 37.6% 2 Wesfarmers 6.4% Austpac Logistics Pty Limited 3.7% Stockland Development Pty Ltd 10.8% 3 Col
Slide 41: Disposals
Disposals Property disposed1 % of disposal Asset class Settlement date Disposal value2 $m 16 Giffnock Avenue, NSW 100% Workplace Apr-26 70 Portfolio3 sale to Stockland M&G Asia Partnership Trust (SMAPT) 50% Logistics Jun-26 219 Portfolio4 sale to Stockland Convenience Retail Partnership (SCRP) 50-70
Slide 42: Weighted average cap rates
Weighted average cap rates Logistics Retail 7% 7% 6% 6% 5% 5% 4% 4% 3% 3% 6.1% 6.4% 6.4% 6.2% 5.5% 5.6% 5.5% 5.9% 4.8% 2% 4.1% 2% 1% 1% 0% 0% FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Workplace Communities Rental Income1 7% 7% 6% 6% 5% 5% 4% 4% 6.7% 6.9% 3% 5.9% 6.3% 3% 5.3% 4.8% 5.0% 5.1% 5
Slide 43: Development - pipeline summary
Development - pipeline summary By forecast end value $36.4bn $60.7bn $8.0bn $9.1bn $5.1bn $0.5bn $1.6bn Alternates 1 Retail Mixed use - Workplace Logistics 2 Land Lease Communities Masterplanned Total portfolio Communities 3 1. Includes Communities Real Estate (stand-alone medical and childcare cent
Slide 44: Commercial Development WIP
Commercial Development WIP Gross lettable SGP Total inc. cost Remaining cost Est. end value Expected project timing Asset Development Build To area ownership SGP share SGP share 100% share class type Sell / Hold FY26 FY27 FY28 FY29+ (sqm) (%) ($m) ($m) ($m) Completed ~829 Carole Park Distribution Ce
Slide 45: Commercial Development pipeline
Commercial Development pipeline Gross lettable SGP Est. end value Expected project timing Asset Build To Development type area ownership 100% share class Sell / Hold FY26 FY27 FY28 FY29+ (sqm) (%) ($m) In planning Yennora Stage 2 & 3, NSW Logistics Brownfield BTH 120,096 100% Kemps Creek (200 Alding
Slide 46: Development - MPC performance
Development - MPC performance Key metrics FY26 FY25 Change Total lots settled 8,902 6,865 29.7% Development operating profit margin3 % - Settlements under joint venture/project 4,880 3,216 51.7% development agreements Total development revenue $2,569m $2,283m 12.6% (2.1%) (6.3%) - Includes superlot
Slide 47: MPC net sales and enquiries
MPC net sales and enquiries Net sales by quarter 2,324 2,117 2,164 428 1,936 1,848 365 453 329 1,509 276 1,363 753 1,242 1,250 203 767 1,181 677 560 1,121 991 299 719 263 214 210 557 221 234 493 433 386 312 502 680 809 793 833 365 603 332 565 328 352 484 363 221 463 171 210 261 219 171 184 250 178 2
Slide 48: MPC lots settled by location and ownership
MPC lots settled by location and ownership Lots settled by location 8,902 1,638 6,865 6,374 5,964 5,403 5,637 1,021 1,314 644 2,951 511 763 3,010 2,225 2,588 2,475 2,630 3,335 1,841 1,656 1,734 1,603 1,322 994 1,076 814 922 1,100 978 FY21 FY22 FY23 FY24 FY25 FY26 NSW/ACT QLD VIC WA Lots settled by o
Slide 49: Residential development pipeline
Development - Residential development pipeline Approximate State Approximate Approximate remaining State Project total FY27 FY28 FY29 FY30 FY31 percentage1 settlements per annum2 project lots project lots Aura3 17,500 670 10,107 Yarrabilba3 10,571 504 9,697 Providence 7,513 432 5,694 Kings Forest 4,
Slide 50: Residential supply pipeline composition
Development - Residential supply pipeline composition Net funds employed: $2.9bn Book value: $4.9bn NFE by product NFE by pipeline NFE by state Book value by state Active 21% 21% NSW NSW Resi communities Active within two QLD 33% QLD years 79% 83% 42% Townhomes Active beyond two VIC VIC years 35% 28
Slide 51: MPC sales price – average price per lot across states
MPC sales price1 – average price per lot across states FY26 settlements FY25 settlements Av. size per lot Av. price per lot Av. size per lot Av. price per lot State No. lots2 $/sqm No. lots2 $/sqm sqm $k sqm $k NSW 954 439 626 1,425 1,059 409 667 1,631 QLD 3,297 366 426 1,165 1,645 385 387 1,006 VIC
Slide 52: MPC - Stockland pricing relative to local median
MPC - Stockland pricing relative to local median house and unit price ($) Stockland H&L entry price1 Median house price2 $1,635k $1,350k $1,303k $1,288k $1,300k $940k $925k $849k $874k $855k $770k $735k $663k $670k $627k $670k $650k $656k $542k $598k $596k $590k $598k $590k $633k $574k The Gables Au
Slide 53: MPC net deposits and enquiries
Development - MPC net deposits and enquiries Net deposits by buyer 73.0% 74% 90.0% 69% 70% 63.6% 64.6% 65% 65% Investors / Builders 59.7% 59.2% 59.8% 57% 70.0% 712 563 745 50.0%Upgraders / 582 Downsizers 794 30.0%First home buyers 530 796 791 452 482 338 594 577 475 451 10.0% 400 386 404 554 Total o
Slide 54: Development - LLC performance
Development - LLC performance Key metrics FY26 FY25 Change Total homes settled 777 526 47.7% Revenue reconciliation ($m) Total development revenue $585m $313m 86.8% 59 - 186 184 - Includes revenue from transfer of sites $141m $86m 64.1% - - Includes revenue from disposals $43m - - 646 585 Cost of go
Slide 55: LLC net sales and enquiries
LLC net sales and enquiries Net sales by quarter 317 287 270 66 36 35 206 55 55 179 11 58 135 135 138 26 47 131 121 111 104 9 32 14 31 42 39 7 23 28 15 183 179 162 35 138 86 115 88 100 86 87 77 69 - - - 7 6 13 13 6 10 13 17 15 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 Enquiries by
Slide 56: Development - LLC development pipeline
Development - LLC development pipeline Remaining Completion Community FY27 FY28 FY29 FY30 FY31 + Project activation reconciliation home sites Date In development LLC Promenade 142 FY28 FY26 Opening balance 15 LLC Horizon 101 FY28 LLC Vista 79 FY29 Launches during the period 3 LLC Jardin 183 FY29 Hal
Slide 57: Australian MPC market
Australian MPC market 12-month outlook State Price Volumes Market commentary Market outlook • Activity remains sensitive to elevated interest rates and affordability Australian housing markets remain supported by underlying NSW constraints, with underlying demand continuing to accrue amid tight dema
Slide 58: National house and land prices
National house and land prices Land price per sqm1 Capital city house prices – Rolling annual change2 NSW VIC SEQ WA Greater Sydney Greater Melbourne Greater Brisbane Greater Perth 2,000 55% 45% 1,500 35% 25% 1,000 15% 500 5% (5)% 0 (15)% Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 Jun-20 Jun-21 Jun-2
Slide 59: Development - Vacant land sales
Development - Vacant land sales NSW vacant land quarterly sales VIC vacant land quarterly sales 4,500 10,000 4,000 9,000 3,500 8,000 7,000 3,000 6,000 2,500 5,000 2,000 4,000 1,500 3,000 1,000 2,000 500 1,000 0 0 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 Jun-20 Jun-21 Jun-22 Jun-23 Jun-24 Jun-25 Jun
Slide 60: Residential vacancy rates
Residential vacancy rates 6% 5% 4% 3% 2% Melbourne Sydney 1% Brisbane Perth 0% Jun-16 Jun-18 Jun-20 Jun-22 Jun-24 Jun-26 FY26 Results 60 Source: SQM Research, Jun 2026.
Slide 61: Dwelling price performance by price tier
Dwelling price performance by price tier Year on year % price change 30% Low Mid High 25% 20% 15% 10% 5% 0% -5% -10% -15% Jun 06 Jun 07 Jun 08 Jun 09 Jun 10 Jun 11 Jun 12 Jun 13 Jun 14 Jun 15 Jun 16 Jun 17 Jun 18 Jun 19 Jun 20 Jun 21 Jun 22 Jun 23 Jun 24 Jun 25 Jun 26 FY26 Results 61 Source: Cotalit
Slide 62: 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