Argosy Property Limited · NZX:ARG
Argosy Property — Shareholder Meeting (June 2026)
30 slides from Argosy Property's shareholder meeting presentation, Jun 23, 2026
Slide 1: FY26 Annual Shareholder Meeting
FY26 ANNUAL SHAREHOLDER MEETING Resilient buildings for a better future
Slide 2: Hybrid ASM
Hybrid ASM SHAREHOLDER & PROXYHOLDER SHAREHOLDER & Q & A PARTICIPATION PROXYHOLDER VOTING Online Questions • We will open the poll now, to give you plenty of time to vote. • If you have a question to submit during the live meeting, please select the Q & A tab on • The resolutions and voting options
Slide 3: The Board
The Board Jeff Morrison Alex Cutler Martin Stearne CHAIR DIRECTOR DIRECTOR Stuart McLauchlan Rachel Winder DIRECTOR DIRECTOR Argosy Property Limited Annual Shareholder Meeting 2026 3
Slide 4: The Executive Team
The Executive Team Peter Mence Dave Fraser CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER Argosy Property Limited Annual Shareholder Meeting 2026 4
Slide 5: Agenda
Agenda Chairman’s Review 6 CEO’s Review 11 Questions 22 Resolutions 23 General Business 28 Close of Meeting 29 Due to rounding, numbers presented in this presentation may not add up exactly to the totals provided and percentages may not reflect exactly absolute figures. Argosy Property Limited Annua
Slide 6: Chairman's Review
Chairman’s Review Argosy Property Limited
Slide 7: Results Summary
Results Summary $120.8m $58.5m Net Property Income up 3.3% Revaluation gain to 31 March $1.60 $127.7m NTA per share, up from Full year net profit after tax $1.53 at 31 March 2025 37.2% 6.65c Debt to total assets within FY26 full year dividend the target 30-40% band Argosy Property Limited Annual Sha
Slide 8: Resilient buildings for a better future
VISION Resilient buildings Positioning for a lower carbon future for a better future A business culture that is environmentally focused Progressing green Value Add portfolio opportunities to drive earnings and capital growth Targeting strategic growth opportunities with green potential A diversified
Slide 9: Dividends
Dividends CHANGE IN POLICY TO FFO BASIS • Fourth quarter dividend of 1.6625 cents per share, payable 24 June 2026. • DRP is suspended for this dividend. • Change in dividend policy to 80-95% of FFO (previously 85-100% of AFFO) • AFFO adjustments are primarily timing related, including incentives, le
Slide 10: Board & CEO Succession
Board & CEO Succession BOARD SUCCESSION • Jeff Morrison to step down as Chair at next years Annual Shareholders Meeting. • Martin Stearne to become Chair after 2027 Annual Shareholders Meeting, subject to re-election today. • Rachel Winder standing for election (appointed in August 2019). CEO SUCCES
Slide 11: CEO's Review
CEO’s Review Argosy Property Limited
Slide 12: Portfolio Highlights
Portfolio Highlights 94.6% 5.0 years Occupancy (by rent) Weighted Average Lease Term 3.5% 95.1% Annualised growth on rent reviews Tenant retention rate 31.0% 49.0% Government sector rental income Weighting to Auckland Industrial Argosy Property Limited Annual Shareholder Meeting 2026 12
Slide 13: Portfolio at a glance
Portfolio at a glance TOTAL PORTFOLIO VALUE TOTAL PORTFOLIO VALUE PORTFOLIO MIX by sector by region by type Argosy Property Limited Annual Shareholder Meeting 2026 13
Slide 14: Neilson Street - Development
224 Neilson Street - Development $109.5m >10% value as at 31 March development margin 6 Green 12,077m2 Star Design and Built rating NLA for Warehouse A completed achieved October 16-Year 2025 Practical completion of lease concluded for Warehouse A Warehouse A Argosy Property Limited Annual Sharehold
Slide 15: 8-14 Mt Richmond Drive - Development
8-14 Mt Richmond Drive - Development $282m 14.8% expected value on completion forecast development margin 6 Green 5,833m2 Star Design and Built rating NLA for Warehouse 6 achieved for Warehouse 6 May 9.4% 2026 Stage 1 practical forecast IRR on completion completion achieved Argosy Property Limited A
Slide 16: Revaluations
Revaluations FURTHER MODEST CAP RATE FIRMING REVALUATION BY SECTOR Independent valuations as at 31 March were completed on all properties. • $58.5m gain reported, or 2.7% revaluation gain to book value. • The portfolio is under rented by 9.3%. • $4.4m gain on the two held for sale properties at 31 M
Slide 17: Financial Performance
Financial Performance NET PROFIT UP ON PRIOR COMPARABLE PERIOD • Strong contribution from rent review outcomes and development income. • Continued benefits from the Group’s insurance captive subsidiary. • Lower net interest expense with lower rates more than offsetting higher average debt levels. $1
Slide 18: Distributable Income / Funds From Operations (FFO)
Distributable Income/ Funds From Operations (FFO) STRONG GROWTH IN NDI (UP 9.1%) • NDI of $60.9 million, up 9.1% on the prior comparable period. • The dividend payout ratio to FFO was 90%, compared to 97% in the prior comparable period. $60.9m Net distributable income up 9.1% on the prior comparable
Slide 19: Lease Expiry Profile
Lease Expiry Profile LEASE EXPIRY PROFILE IS BALANCED • Largest expiry in FY27 is The Warehouse at 17 Mayo Road. • Largest expiry in FY28 is break clause for General Distributors at Favona Road (7.3%). The lease term is 10 years, ending August 2034, and exercise of the break clause is considered unl
Slide 20: Market Insights
Market Insights Industrial Office Large Format Retail • Gross new stock at significant levels in recent years. • Many organisations have settled into hybrid models • Annual retail trade turnover increased by 4.4% in the but office attendance varies between cities, alongside year to December 2025. •
Slide 21: Outlook
Outlook OUTLOOK IS MORE UNCERTAIN SINCE INTERIM REPORTING • Geopolitical developments have increased market uncertainty. • The duration of the current disruption and the potential for further escalation are difficult to predict. • Restrictive interest rates have eased, but may increase later this ye
Slide 22: Questions
Questions Argosy Property Limited
Slide 23: Resolutions
Resolutions Argosy Property Limited
Slide 24: Resolution 1
Resolution 1 • That Martin Stearne be elected as a Director. Argosy Property Limited Annual Shareholder Meeting 2026 24
Slide 25: Resolution 2
Resolution 2 • That Rachel Winder be elected as a Director. Argosy Property Limited Annual Shareholder Meeting 2026 25
Slide 26: Resolution 3
Resolution 3 • That the maximum aggregate amount of remuneration payable by the Company to Directors (in their capacity as Directors) be revised to $796,500 per annum, with effect on and from 23 June 2026 (being a reduction in $56,500 per annum from the aggregate amount previously approved by shareh
Slide 27: Resolution 4
Resolution 4 • That the Board be authorised to fix the auditor’s fees and expenses. Argosy Property Limited Annual Shareholder Meeting 2026 27
Slide 28: General Business
General Business Argosy Property Limited
Slide 29: Closing of Meeting
Closing of Meeting Argosy Property Limited
Slide 30: Thank you
Thank you DISCLAIMER This presentation has been prepared by Argosy Property Limited. The details in this presentation provide general information only. It is not intended as investment or financial advice and must not be relied upon as such. You should obtain independent professional advice prior to