Gdi Property Group · ASX:GDI
Gdi Property — FY2026 Earnings Presentation
35 slides from Gdi Property's earnings presentation, Aug 24, 2026
Slide 1: GDI Property Group Annual Results
GDI Property Group ANNUAL RESULTS AS |GDI
Slide 2: Agenda
01 02 03 Acknowledgement of Country GDI acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples. Highlights Delivering on Fina
Slide 3: Continued FFO growth
FFO Growth ($million) Continued FFO growth 50 Total Funds From Operations (FFO)1 increased by 25.0% to 01 Highlights $44.5 million (2025: $35.6 million) or 24.5% per security. 40 44.5 30 35.6 28.1 29.6 20 Growth in NTA per security 10 NTA per security increased $0.01 to $1.21. 0 Property Division’s
Slide 4: Leasing and re-positioning core properties: Westralia Square
Leasing and re-positioning core properties WESTRALIA SQUARE Two core assets in a premium CBD location – 100% occupancy (post balance date including HOA) , minimal near-term expiry, minimal maintenance capex requirements. 02 Delivering on Strategy When acquired, Westralia Square had a Weighted Averag
Slide 5: Leasing and re-positioning core properties: Mill Green
Leasing and re-positioning core properties MILL GREEN Strategic capital investment program driving occupancy Disciplined speculative fitout investment in prior years built a quality suite base that is now converting into leasing momentum 02 Delivering on Strategy with renewals driving the majority o
Slide 6: CBD Car parks: Steady income with development prospects
CBD Car parks: Steady income with development prospects CBD Car Parks Strategically located CBD carparks continue to generate stable income as redevelopment prospects ripen. 02 Delivering on Strategy Combined FFO contribution of $4.5m. Net profit = FFO = cash received. Minimal capital expenditure an
Slide 7: Strong Returns from Co-Living JV
Co-Living JV FFO Growth ($million) Strong Returns from Co-Living JV 10 Co-living JV FFO increased by over 44% to $9.5 million (2025: 8 9.5 $6.5 million) driven by the accretive acquisition of the Moranbah 6 properties, expansion at Norseman, and stronger performance 6.8 6.5 at the other two properti
Slide 8: Asset sales providing investors with liquidity
Asset sales providing investors with liquidity The Funds Management Division continued to generate investor liquidity through strategic asset sales, with over $150.0 million sold or exchanged during the year. GDI No. 38 Diversified Property Trust (5-15 Wood Street, Bassendean) Acquired 2014 for $10.
Slide 9: Financial Snapshot
Financial Snapshot FFO FFO/Security Distribution NTA $million Per SECURITY Per SECURITY NET TANGIBLE ASSETS $44.5m 8.24c 5.00c $1.21 FFO increased 25.0% to $44.5 FFO per security increased 2.50 cents per security for final Net tangible assets per security million (2025: $35.6 million) 24.5% over the
Slide 10: Contributors to FFO
Contributors to FFO Property Division Property Division FFO of $58.4 million represents 14.8% growth, Jun-26 Jun-25 with significant contributions from key properties: $’000 $’000 Property Division FFO 58,381 50,849 > Westralia Square: $29.3 million (9.7% increase) reflecting full Funds Management D
Slide 11: Debt + Interest rates
Debt + Interest rates Debt facilities Interest rate risk management During the year, GDI reduced drawn debt on the Syndicated GDI maintains comprehensive interest rate hedging with 80.1% of Facility by $21.0 million to $343.3 million (2025: $364.3 million) drawn debt hedged to 31 December 2027. The
Slide 12: Active interest rate risk management
Active interest rate risk management BBSY@3.75% CAP, 2.65% COLLAR A combination of interest rate caps and swaps protects from BBSY@4.5% CAP rising rates but allows GDI to benefit from lower interest rates. BBSY@3.43% CALLABLE SWAPS TOTAL 400.0 350.0 68.3 68.3 68.3 300.0 175.0 175.0 175.0 04 Debt + I
Slide 13: WA Economy
WA Economy Statewide Business Investment Business/equipment investment — 32.9% above WA's decade average as of October 2025, the highest of any state. Population Growth Annual to Dec 25 (%) 2.5 Strongest Export 2.0 2.20 WA leads national exports, with over 45% of all exports growing to $238.4 billio
Slide 14: Perth Key Office Trends
Perth CBD Leasing (sqm) Perth Key Office Trends 80,000 +96% Enquiry Levels Continue to strengthen 70,000 H1 2026 enquiry volume was up 26.7% on H1 2025 60,000 66,985 Most of the leasing activity in Q2 26 was in A Grade (58%). 50,000 40,000 30,000 34,176 Prime Growth continues to strengthen 20,000 Pr
Slide 15: Perth CBD Supply Gap
Perth CBD Supply Gap 2025-32 – Supplemented by 100,000 of stock withdrawals 70,000 60,000 50,000 40,000 05 The Perth Market 30,000 FORECAST 20,000 10,000 Perth CBD Supply (sqm) 0 Capital 1 The Westralia Capital 9 The 15 The 152 St 300 Murray Square 2 Esplanade Square 2 Square 3 Esplanade Esplanade G
Slide 16: Perth CBD new leasing transactions over 500sqm
Perth CBD new leasing transactions over 500sqm (H1 26) Volume sqm No. Deals (RHS) 60,000 30 50,000 25 No. of Deals Total Sqm 40,000 20 05 The Perth Market 30,000 15 20,000 10 10,000 5 0 0 4Q25 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q
Slide 17: Perth CBD Vacancy Breakdown
Perth CBD Vacancy Breakdown (%) PCA PCA PCA CBRE Market Vacant Vacancy Vacancy 25 Size (sqm) Stock (Jul 26) Tracker (sqm) (Jun 26) Premium 500,426 51,043 10.2% 6.8% 20.5 20 19.2 A Grade 695,428 113,355 16.3% 8.8% B Grade 536,940 103,092 19.2% 20.5% 16.3 C+D Grade 111,054 16,103 14.5% N/A 15.4 14.5 T
Slide 18: Supply Gap and withdrawals driving down vacancy
Supply Gap +withdrawals driving down vacancy Historic Net Absorption Perth CBD Historic Net Absorption & vacancy forecast Historic Vacancy Vacancy 10,000 sqm Net Absp. Vacancy 20,000 sqm Net Absp. Vacancy 40,000 sqm Net Absp. 30% 160,000 140,000 25% Net Absorption (sqm) 120,000 20% Vacancy (%) 100,0
Slide 19: The Property Portfolio
The Property Portfolio Independent valuation Carrying Value Cap rate 30/06/26 30/6/25 Details Date $m % $m $m 141 St Georges Terrace, Perth (Westralia Square) 31/12/25 400.0 6.50 401.0 395.1 143 St Georges Terrace, Perth (WS2) 31/12/25 105.0 6.50 105.4 108.3 197 St Georges Terrace, Perth 30/06/26 23
Slide 20: WS1, WS2 and 180 Hay Street
WS1, Westralia Square, Perth WS2, Westralia Square, Perth 180 Hay Street, Perth Valuation Date 31 December 2025 31 December 2025 30 June 2025 Valuation ($m) 400.0 105.0 18.8 06 Property Portfolio Carrying Value ($m) 401.0 105.4 18.7 NLA (sqm) 32,581 9,529 4,925 Value ($/sqm) 12,277 11,019 3,807 Disc
Slide 21: 197 St Georges Tce, 5 Mill Street, 1 Mill Street
197 St Georges Tce, Perth 5 Mill Street, Perth 1 Mill Street, Perth Valuation Date 30 June 2026 30 June 2026 30 June 2026 Valuation ($m) 234.0 54.0 36.5 06 Property Portfolio Carrying Value ($m) 234.0 54.0 36.5 NLA (sqm) 26,046 7,148 6,648 Value ($/sqm) 8,984 7,554 5,490 Discount Rate (%) 7.25 7.50
Slide 22: Murray Street, Wellington Street, Stanley Place
Murray Street, Perth 301-311 Wellington Street, Stanley Place, Townsville Perth Valuation Date 31 December 2025 31 December 2025 31 December 2025 Valuation ($m) 48.8 24.2 40.0 06 Property Portfolio Carrying Value ($m) 48.8 24.2 40.0 NLA (sqm) - - 12,820 Value ($/sqm) - - 3,120 Discount Rate (%) 7.50
Slide 23: Fund Management Division Highlights
Fund Management Division Highlights 07 Funds Management 1 Adelaide Terrace UGL Portfolio Stanley Place, Townsville GDI NO. 36 PERTH CBD OFFICE TRUST GDI NO. 38 DIVERSIFIED PROPERTY TRUST GDI NO. 42 OFFICE TRUST Investment into the tenant amenity Sale of 5 and 15 Wood Street, Bassendean Presents with
Slide 24: GDI No. 38 Diversified Property Trust (Broadmeadow)
GDI No. 38 Diversified Property Trust (Broadmeadow) Following settlement of 5 and 15 Wood Street, Bassendean, GDI No. 38 Diversified Property Trust's sole remaining asset is the 16-hectare industrial site at 16 Broadmeadow Road, Broadmeadow — well placed to benefit from Georgetown the Broadmeadow pr
Slide 25: Executing on Strategy
Executing on Strategy Leasing ▪ Leased, renewed or signed Heads of Agreements for over 20,937sqm of office assets. ▪ Active speculative fitout strategy has been very effective. ▪ Focus is on leasing remaining space, renewals and growth opportunities. Financial ▪ Continue to grow overall FFO, up 25.0
Slide 26: Strategic Focus: Balanced growth and securityholder returns
Strategic Focus: Balanced growth and securityholder returns GDI will continue managing the business with the structured and disciplined approach that delivered strong FY26 results, focusing on enhancing securityholder value through: Property Division growth There remain growth opportunities in the P
Slide 27: The Portfolio | Lease Expiry Profile
The Portfolio | Lease Expiry Profile WS1, Westralia Square WS2, Westralia Square 100% 100% 80% 80% 60% 60% 40% 40% 20% 20% 0% 0% VACANT FY27 FY28 FY29 FY30 FY31 FY32+ VACANT FY27 FY28 FY29 FY30 FY31 FY32+ 197 St Georges Terrace 5 Mill Street 100% 100% 80% 80% 60% 60% 40% 40% 20% 20% 09 Appendices 0%
Slide 28: The Portfolio | Lease Expiry Profile
The Portfolio | Lease Expiry Profile 1 Mill Street 180 Hay Street 100% 100% 80% 80% 60% 60% 40% 40% 20% 20% 0% 0% VACANT FY27 FY28 FY29 FY30 FY31 FY32+ VACANT FY27 FY28 FY29 FY30 FY31 FY32+ 235 Stanley Street 100% 80% 60% 40% 20% 09 Appendices 0% VACANT FY27 FY28 FY29 FY30 FY31 FY32+ Page 28
Slide 29: Balance Sheet
Balance Sheet Jun-26 Jun-25 Note $’000 $’000 Current assets Cash and cash equivalents 9,761 15,187 Trade and other receivables 3,615 3,302 Derivative financial instruments 328 - Other assets 11,798 8,732 Non-current assets held for sale 42,364 2,200 GDI No.46 Property Trust $42.4 million Total curre
Slide 30: Profit or Loss
Profit or Loss Jun-26 Jun-25 $'000 $'000 Revenue from ordinary activities Property revenue 74,232 75,638 Funds management revenue 2,000 5,846 Interest revenue 535 569 Other income 250 250 Total revenue from ordinary activities 77,017 82,303 Share of net profits from joint ventures 7,927 4,562 Net fa
Slide 31: Net Profit after Tax to FFO
Net Profit after Tax to FFO Jun-26 Jun-25 $’000 $’000 Total comprehensive income for the year 34,893 41,643 Contribution resulting from consolidated trusts (5,192) (6,338) Other non-operating costs1 1,697 1,457 Straight lining and other rental adjustments 59 (1,758) Amortisation and depreciation 22,
Slide 32: The Co-Living JV
The Co-Living JV EBITDA by Property ($million) Acquiring, re-positioning and operating geographically diverse FY25 FY26 regional accommodation assets in locations with limited supply 12 and sustained workforce demand. 11 10 Strategy to segment workforce and executive accommodation, 10.3 9 investing
Slide 33: Co-Living Portfolio insights
Co-Living Portfolio insights Site Newman Norseman South Hedland Moranbah OVERVIEW The Lodge, Newman is positioned in The Norseman Village is a purpose- The Lodge, South Hedland is centrally Located in Bowen Basin, The Lodge the heart of Newman, a key Pilbara built workforce accommodation asset locat
Slide 34: Disclaimer
Disclaimer This presentation has been prepared and issued by GDI Property Group Limited (ACN 166 479 189) and GDI Funds Management Limited (ABN 34 107 354 003, AFSL Number 253 142) as responsible entity of GDI Property Trust (ARSN 166 598 161) (collectively, GDI). Shares in GDI Property Group Limite
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