Stride Property Group · NZX:SPG
Stride Property — Shareholder Meeting (July 2022)
32 slides from Stride Property's shareholder meeting presentation, Jul 1, 2022
Slide 1: Stride Property Group Annual Shareholder Meetings 2022
Stride Property Group Annual Shareholder Meetings 2022 Stride Property Group Annual Shareholder Meetings 2022 1
Slide 2: Boards of Directors
Boards of Directors Tim Storey Ross Buckley Jacqueline Cheyne Chair of Board, Chair of Audit and Risk Chair of Sustainability Independent Committee, Independent Committee, Independent Nick Jacobson Michelle Tierney Philip Ling 46 Sale Street, Auckland Independent Independent Independent Stride Prope
Slide 3: Management
Management Philip Littlewood Jennifer Whooley Louise Hill Chief Executive Officer Chief Financial Officer Company Secretary and General Manager Corporate Services 215 Lambton Quay, Wellington Stride Property Group Annual Shareholder Meetings 2022 3
Slide 4: Agenda
Agenda Chair’s Address Chief Executive Officer’s Presentation Consideration of FY22 Annual Report Resolutions for Stride Property Limited Resolutions for Stride Investment Management Limited General Business Stride Property Group Annual Shareholder Meetings 2022 4
Slide 5: Chair's Address
Chair’s Address Stride Property Group Annual Shareholder Meetings 2022 5
Slide 6: FY22 Strategic Highlights
FY22 Strategic Highlights Stride continues to grow its assets under management (AUM), while also proactively $3.6bn $2.5bn $324m managing capital to Total Assets External Assets Gross transactions support execution of Under Management, up Under Management, up completed strategy $0.6bn or 20% from $0
Slide 7: Products
Products Since 31 March 2021, Stride’s AUM has grown from $3.0bn to $3.6bn or $3.8bn including acquisitions, developments and disposals Portfolio composition by value as at 31 March 2022 1 Acquisitions, developments and disposals Industrial Large Format Retail $1,260m $1,194m Retail Shopping Centres
Slide 8: Chief Executive Officer's Address
Chief Executive Officer’s Address Stride Property Group Annual Shareholder Meetings 2022 8
Slide 9: Management Fee Income
Management Fee Income SIML management fee1 growth Stride continues to grow its investment management business: 2 Recurring management +19% from FY21 fees +74% / +12% p.a. since Total AUM 31 March 2017 External AUM +115% / +17% p.a. since 31 March 2017 Note: Numbers in chart may not sum due to roundi
Slide 10: Diversified Income Sources
Diversified Income Sources FY22 look-through revenue sources1 Stride combines a property ownership business (SPL) with a real estate investment management business (SIML) Stride derives its income from: • Management fees • Direct property income from SPL’s directly owned property • Indirect property
Slide 11: FY22 Financial Highlights
FY22 Financial Highlights Profit after income tax from continuing operations $112.3m down $19.7m from FY21 Distributable profit1 after $54.2m current income tax up $7.9m from FY21 Distributable profit per share 10.95cps Dividends per share 9.91cps Net tangible assets per share $2.28 +$0.13 / +6.0% f
Slide 12: Fabric Portfolio Repositioned
Fabric Portfolio Repositioned Stride has been active in repositioning the Fabric portfolio1 towards prime, modern, green office properties which will benefit from enduring demand Green assets2 ($m) Assets by grade ($m) 853 853 723 131 723 222 123 214 305 123 85% 631 74% 70% 599 147 418 58% 147 386 1
Slide 13: Developments
Developments Acquisitions completed by Stride’s Products in FY22 have focused on building future development pipelines, with $130m of active projects committed and a strong future pipeline of potential projects FY22 Committed Remaining Future Completed1 Projects Spend Pipeline $37m - - $200m+ - $58m
Slide 14: Climate-Related Disclosures
Climate-Related Disclosures During FY22 Stride has delivered significant progress in its approach to sustainability and climate risk Minimum green rating policy established for acquisitions and developments Climate risk assessment undertaken, preliminary risk ratings established GHG emissions report
Slide 15: Capital Management
Capital Management Fixed rate interest profile 1.61% 1.60% 1.35% Capital raise 1.24% 1.28% provided balance $134m new capital sheet flexibility $335m $320m $280m $100m $25m High levels of interest 110% hedged as Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 rate hedging at 31 March 2022 Notional fixed rate deb
Slide 16: Outlook
Outlook Stride remains committed to its funds management strategy • We will continue to support growth in the existing Stride Products • We continue to explore opportunities for establishing the Fabric office portfolio as a separate Stride Product • We have high levels of hedging to manage rising in
Slide 17: Formal Business
Formal Business Stride Property Group Annual Shareholder Meetings 2022 17
Slide 18: Stride Property Limited Resolutions
Stride Property Limited Resolutions Stride Property Group Annual Shareholder Meetings 2022 18
Slide 19: Resolution 1 – Auditor's Remuneration
Resolution 1 – Auditor’s Remuneration That the Directors be authorised to fix the remuneration of PwC as auditor of Stride Property Limited for the ensuing year 215 Lambton Quay, Wellington Stride Property Group Annual Shareholder Meetings 2022 19
Slide 20: Resolution 2 – Ratification of Previous Issue of Shares under a Placement
Resolution 2 – Ratification of Previous Issue of Shares under a Placement That the previous issue under NZX Listing Rule 4.5.1 of 55,000,000 fully paid ordinary shares in Stride Property Limited to investors at an issue price of $2.00 per stapled security (comprising one share in Stride Property Lim
Slide 21: Resolution 3 – Ratification of Previous Issue of Shares under a Retail Offer
Resolution 3 – Ratification of Previous Issue of Shares under a Retail Offer That the previous issue under NZX Listing Rule 4.5.1 of 4,487,760 fully paid ordinary shares in Stride Property Limited to eligible shareholders under the Retail Offer at an issue price of $2.00 per stapled security (compri
Slide 22: SPL Proxy Votes Received
SPL Proxy Votes Received Resolution 1: Auditor’s Remuneration Proxy Votes Lodged For Against Discretionary 309,733,430 96.27% 1.01% 2.72% Resolution 2: Ratification of Previous Issue of Shares under a Placement Proxy Votes Lodged For Against Discretionary 250,066,531 96.48% 0.05% 3.47% Resolution 3:
Slide 23: Stride Investment Management Limited Resolutions
Stride Investment Management Limited Resolutions Stride Property Group Annual Shareholder Meetings 2022 23
Slide 24: Resolution 1 – Auditor's Remuneration
Resolution 1 – Auditor’s Remuneration That the Directors be authorised to fix the remuneration of PwC as auditor of Stride Investment Management Limited for the ensuing year 215 Lambton Quay, Wellington Stride Property Group Annual Shareholder Meetings 2022 24
Slide 25: Resolution 2 – Re-election of Director
Resolution 2 – Re-election of Director Tim Storey That Tim Storey be re-elected as a Director of Stride Investment Management Limited 215 Lambton Quay, Wellington Stride Property Group Annual Shareholder Meetings 2022 25
Slide 26: Resolution 3 – Re-election of Director
Resolution 3 – Re-election of Director Jacqueline Cheyne That Jacqueline Cheyne be re-elected as a Director of Stride Investment Management Limited 215 Lambton Quay, Wellington Stride Property Group Annual Shareholder Meetings 2022 26
Slide 27: Resolution 4 – Ratification of Previous Issue of Shares under a Placement
Resolution 4 – Ratification of Previous Issue of Shares under a Placement That the previous issue under NZX Listing Rule 4.5.1 of 55,000,000 fully paid ordinary shares in Stride Investment Management Limited to investors at an issue price of $2.00 per stapled security (comprising one share in Stride
Slide 28: Resolution 5 – Ratification of Previous Issue of Shares under a Retail Offer
Resolution 5 – Ratification of Previous Issue of Shares under a Retail Offer That the previous issue under NZX Listing Rule 4.5.1 of 4,487,760 fully paid ordinary shares in Stride Investment Management Limited to eligible shareholders under the Retail Offer at an issue price of $2.00 per stapled sec
Slide 29: SIML Proxy Votes Received
SIML Proxy Votes Received Resolution 1: Auditor’s Remuneration Proxy Votes Lodged For Against Discretionary 309,733,430 96.24% 1.01% 2.74% Resolution 2: Re-election of Director Tim Storey Proxy Votes Lodged For Against Discretionary 309,737,774 95.14% 2.12% 2.73% Resolution 3: Re-election of Directo
Slide 30: SIML Proxy Votes Received (cont.)
SIML Proxy Votes Received (cont.) Resolution 4: Ratification of Previous Issue of Shares under a Placement Proxy Votes Lodged For Against Discretionary 250,066,531 95.87% 0.64% 3.48% Resolution 5: Ratification of Previous Issue of Shares under a Retail Offer Proxy Votes Lodged For Against Discretion
Slide 31: General Business and Shareholder Questions
General Business and Shareholder Questions Stride Property Group Annual Shareholder Meetings 2022 31
Slide 32: Thank you
Thank you Important Notice: The information in this presentation is an overview and does not contain all information necessary to make an investment decision. It is intended to constitute a summary of certain information relating to the performance of Stride Property Group for the twelve months ende
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