Charter Hall Retail Reit · ASX:CQR
Charter Hall Retail Reit — FY2025 Earnings Presentation
39 slides from Charter Hall Retail Reit's earnings presentation, Aug 18, 2025
Slide 1: 2025 Full Year Results
Charter Hall Retail REIT 2025 Full Year Results ASX:CQR
Slide 2: Agenda
Agenda Agenda 1. Highlights and Strategy 2. Financial Performance NAIDOC Week – Drawing us together, Gateway Plaza, Leopold, Vic 3. Operational Performance 4. Outlook and Guidance Acknowledgement of Country 5. Annexures Charter Hall acknowledges the Traditional Custodians of the lands on which we wo
Slide 3: Highlights and Strategy
Highlights and Strategy Regatta Hotel, Brisbane Regatta Hotel, Toowong, Qld Charter Hall Group 2025 Full Year Results 3
Slide 4: FY25 full year highlights
Highlights and Strategy FY25 full year Property performance Financials Capital management highlights Glebe Hill Village, Tas Rye Hotel, Vic Ampol Marsden Park, NSW Property Investment value1 NTA per security Proforma Balance sheet gearing2 $4.8bn $4.64 27.1% Includes HPI acquisition +2.9% on June 25
Slide 5: Convenience Retail Strategy
Highlights and Strategy CQR Convenience Retail Strategy Convenience Retail To deliver the highest property income and Non-discretionary Strategic locations High quality tenant focus with high visibility, covenants earnings growth from the which is resilient through convenient access and with long te
Slide 6: Charter Hall is Australia's largest convenience retail platform
Highlights and Strategy Charter Hall is Australia’s largest convenience retail platform Fully integrated property model with a nationwide presence for end-to-end service offering 150 $16bn >900 Retail specialists Funds under Convenience retail across functions & NT management1 properties states 14 Q
Slide 7: Tenant Customer Strategy
Highlights and Strategy Tenant Customer Strategy Top ranked landlord by our tenants (NPS) 1 - 150 retail specialists focused on tenant customer 2022 2023 2024 2025 led solutions, performance and innovation CQR - Ranked #1 preferred landlord1 amongst peers for four years + 32 - Tenant customers highl
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 $5.0b Z Energy + Gull LWIP2 $4.8b APT1 & APT2 $4.3b $4.3b bp NZ $4.0b $4.0b bp AU $3.6b 22% 25% 39% $3.3b
Slide 9: Acquisition of Hotel Property Investments
Highlights and Strategy Acquisition of Hotel Property HPI acquisition accretive for CQR investors Investments (ASX:HPI) During FY25, CQR and wholesale JV $367.5m $385.5m +$18.0m partner Hostplus acquired 100% of Initial equity Equity Value Net4 uplift of 4.9% HPI below NTA June 25 investment - Diver
Slide 10: Delivering on Strategy
Highlights and Strategy Delivering on Strategy Strategic portfolio curation and asset recycling into accretive higher quality assets Acquisitions of $726m1 Divestments of $156m Active Asset Management - Acquired 100% Ampol Marsden Park, NSW for - Divestment of Lake Macquarie Square, NSW in - Complet
Slide 11: Five Year Valuation Cycle
Highlights and Strategy Five Year Valuation Cycle CQR 5 year like-for-like cap rates and valuations1 - On a like-for-like basis1 weighted average cap rates have expanded by the same amount they 8.00% LFL portfolio $3.5bn valuation compressed from 30 June 2020 to growth 30 June 2022 7.50% +22.4% $3.4
Slide 12: Financial Performance
Financial Performance Bass Hill Plaza, Bass Hill, NSW Charter Hall Group 2025 Full Year Results 12
Slide 13: Earnings and Distributions
Financial Performance Earnings and Distributions Look through basis FY24 FY25 % change - Same property portfolio NPI growth of 2.6% $m - Like-for-like convenience shopping centre Net property income from shopping centre retail – LFL 139.0 142.4 2.4% retail NPI growth of 2.4% - Same property convenie
Slide 14: Balance Sheet
Financial Performance Balance Sheet - Convenience shopping centres increase Look through basis $m Jun 24 Jun 25 attributed to valuation increase of $81m, capital spend of $41m and net transactions -$56m Convenience shopping centre retail investment properties 2,868 2,934 - Convenience net lease reta
Slide 15: Property Valuations
Financial Performance Property Valuations Convenience Convenience Total portfolio $m shopping centre net lease retail retail - 99% of the portfolio was externally revalued June 2024 portfolio value 2,868 1,180 4,048 during FY25 with 78% of assets valued at 30 June 25 Net transactions 13 333 346 - Sh
Slide 16: Capital Management
Financial Performance Capital Management Diversified and well balanced, long-term debt maturity profile - Diversified funding sources with weighted 146.0 average debt maturity of 2.8 years 271.0 147.9 - Refinanced entire HPI debt platform including 240.8 prepayment of HPI USPP3 noteholders with 251.
Slide 17: Operational Performance
Operational Performance Ampol, Seven Hills, NSW Charter Hall Group 2025 Full Year Results 17
Slide 18: Portfolio Summary
Operational Performance Portfolio Summary – $4.8bn diversified convenience retail portfolio across shopping centres $2.9bn Convenience retail portfolio snapshot Jun 24 Jun 25 (61%) and net lease $1.9bn (39%) Value ($m) 4,048 4,810 – Portfolio occupancy at 98.9% Weighted average cap rate 5.79% 5.74%
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) Major (SC) 28.1% 11.8% Service station Credit Rating: BBB 16.4% 11.3% Hospitality 14.3% Credit Rating: BBB+ Food caterin
Slide 20: Convenience Net Lease Portfolio
Operational Performance Portfolio Value Number of Cap rate WALE Rent Convenience Net Lease Portfolio $’m assets (years) review bp Australia 540 217 4.85% 14.5 CPI – Following the successful 100% acquisition of HPI bp New Zealand 173 70 5.05% 15.5 CPI (0.5%-4%) during FY25, AVC and QVC represent 31%
Slide 21: Supermarket Anchors
Operational Performance Supermarket Anchors – Supermarkets continued to demonstrate resilience with 2.5% MAT growth Supermarket performance Jun 24 Jun 25 – 85% of supermarkets paying turnover rent or within 10% MAT growth 2.4%1 2.5% – 21 supermarkets with base rent uplifts in FY25 Supermarkets in tu
Slide 22: Specialty Tenants
Operational Performance Specialty Tenants Specialty performance Jun 24 Jun 252 MAT growth 2.5% 3.6% – 272 specialty leases with spreads of +5.5% Sales productivity (per sqm) $11,077 $11,356 – 89 new leases (+7.6% leasing spread) Average gross rent (per sqm) $1,267 $1,301 – 183 renewals (+4.9% leasin
Slide 23: Sustainability initiatives
Operational Performance Environment Social Governance Sustainability initiatives Achievements in FY25 Net Zero by 20251 Empowering vulnerable women ESG leadership Net Zero from 1 July 2025, achieved through $222,679 in social procurement spend with Achieved a ranking of 2nd in Australia and New exis
Slide 24: Outlook and Guidance
Outlook and Guidance Highlands Marketplace, Highlands, NSW Charter Hall Group 2025 Full Year Results 24
Slide 25: Charter Hall Convenience Retail Fund (CCRF)
Outlook and Guidance Charter Hall Convenience Retail Fund (CCRF) Charter Hall Convenience Retail Fund (CCRF) is a newly established CQR portfolio composition post CCRF wholesale pooled fund with a strategy to invest in metropolitan convenience shopping centres and select metro net lease retail asset
Slide 26: Outlook and Guidance
Outlook and Guidance Outlook and Guidance Well positioned for growth FY26 guidance FY26 operating earnings FY26 distribution per unit Australian Limited new retail Positioned for NTA uplift 26.3 cpu 25.4 cpu population growth supply Based upon information This represents a distribution currently ava
Slide 27: Annexures
Annexures Regatta Hotel, Toowong, Qld (HPI) Charter Hall Group 2025 Full Year Results 27
Slide 28: Annexures
Annexures Annexures 1 6 Reconciliation of statutory profit to operating earnings Convenience shopping centre MAT analysis 2 7 Investment in property joint ventures Convenience shopping centre retail portfolio historical performance 3 8 Debt maturities and covenants Glossary 4 Lease expiry profile 5
Slide 29: Reconciliation of statutory earnings to operating earnings
Annexures Annexure 1 Reconciliation of statutory earnings to operating earnings $m FY24 FY25 Statutory profit 17.2 213.8 Investment property revaluation1 102.2 (122.7) Acquisition and disposal related costs 11.4 15.8 Net loss on derivative financial instruments 28.3 36.6 Other (including foreign exc
Slide 30: Investment in property joint ventures
Annexures Annexure 2 Investment in property joint ventures – operating earnings and balance sheet breakdown FY25 Convenience Convenience shopping bp Ampol Gull LWIP2 HPI Other Net $m CQR RP1 RP2 RP6 Other net lease Total centre portfolios portfolios portfolio portfolio portfolio Lease retail retail
Slide 31: Debt maturities and covenants
Annexures Annexure 3 Debt maturities and covenants as at 30 June 2025 Limit Drawn ICR ICR LVR LVR Debt facility (ownership interest) Maturity ($m) ($m) covenant actual covenant actual CQR bank debt facilities 100 Mar-26 95 Nov-26 75 Jul-27 200 Dec-27 75 Dec-27 150 Jul-28 150 Jul-28 230 Oct-28 100 De
Slide 32: Lease expiry profile
Annexures Annexure 4 Lease expiry profile as at 30 June 2025 Major tenant expiry profile (by income) 80% 9.3 years 60% 57.6% Major tenant WALE 40% 7.0 years 20% 8.0% 6.5% 5.9% 6.5% 6.0% 4.2% 4.6% Portfolio WALE 0.0% 0.8% 0% FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34+ 3.5 years Specialty and m
Slide 33: Property valuations
Annexures Annexure 5 Property valuations as at 30 June 2025 Ownership State Property Location Anchor Tenants interest (%) NSW Bass Hill Plaza Bass Hill Woolworths, Aldi, Kmart 20.0% Bateau Bay Square Bateau Bay Woolworths, Coles, Aldi, Kmart 49.9% Carnes Hill Marketplace Horningsea Park Woolworths,
Slide 34: Property valuations continued
Annexures Annexure 5 continued Property valuations as at 30 June 2025 continued State Property Location Anchor Tenants Ownership interest (%) QLD Arana Hills Plaza Arana Hills Coles, Aldi, Kmart 100.0% Atherton Square Atherton Woolworths 100.0% Bay Plaza Hervey Bay Woolworths 100.0% Bribie Island Sh
Slide 35: Property valuations continued
Annexures Annexure 5 continued Property valuations as at 30 June 2025 continued Ownership interest State Property Location Cap Rate Book Value ($m) (%) bp Australia portfolio Australia 23.3% 4.85% 540 bp New Zealand portfolio New Zealand 24.5% 5.05% 173 Ampol I portfolio Australia 2.5% 4.88% 45 Ampo
Slide 36: Convenience shopping centre MAT analysis
Annexures Annexure 6 Convenience shopping centre MAT analysis as at 30 June 2025 % of MAT Sales by category portfolio growth1 Rental income by specialty and mini-major tenant type sales Supermarket 64.6% 2.5% DDS 11.5% 3.2% Mini-majors Majors 76.0% 2.6% 16% Food and food catering 8.6% 3.6% Non sales
Slide 37: Convenience shopping centre retail portfolio historical performance
Annexures Annexure 7 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 Number of properties 74 71 58 58 51 50 51 49 45 44 Value $2.5b $2.8b $2.8b $3.0b $2.8b $2.9b $3.3b $3.2b $2.9b $2.9b Occupancy 98.0% 98.0% 9
Slide 38: Glossary
Annexures Annexure 8 Glossary FY24 LFL Twelve months from 1 July 2023 to 30 June 2024 Like for Like FY25 JV Twelve months from 1 July 2024 to 30 June 2025 Joint venture GLA Gross lettable area (in square metres) MAT Moving annual turnover calculated as a sum of rolling 12-month sales Gross rent Net
Slide 39: 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
Charter Hall Retail REIT — FY2025 Earnings Presentation on 6ix