Waypoint Reit Ltd. · ASX:WPR
Waypoint Reit — Shareholder Meeting (May 2021)
21 slides from Waypoint Reit's shareholder meeting presentation, May 13, 2021
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 10:00am – 13 May 2021
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation has been prepared by Waypoint REIT (“WPR” or Industry data and third party market data exchange rates, competition in the markets in which WPR operates For personal use only “Waypoint REIT”) which is a stapled entity comprising shares in This present
Slide 3: Contents
For personal use only Contents: 1. Chair’s Address 2. Business Update 3. Formal Business 4. Closing Remarks 3
Slide 4: Chair's Address
For personal use only Chair’s Address Laurence Brindle Independent Chair 4
Slide 5: Key FY2020 Events and Milestones
Key FY2020 Events and Milestones 1 New CEO and CFO (January 2020) For personal use only 2 Viva Energy Australia’s sale of its 35.5% stake in WPR (February 2020) 3 Debt review event across WPR’s $1.1 billion debt book (triggered by VEA selldown in February 2020, completed in April 2020) 4 Internalisa
Slide 6: Distributable EPS Growth
Distributable EPS Growth FY20 continued WPR’s strong track record of growth in Distributable EPS1 For personal use only CAGR since IPO: 4.5% 15.15 14.54 14.02 13.41 12.68 FY16 FY17 FY18 FY19 FY20 1 Based on weighted average number of securities on issue during the reported period. FY16 is annualised
Slide 7: Total Returns
Total Returns1 WPR has significantly outperformed the broader A-REIT index For personal use only 2020 Calendar Year IPO to 31-Dec-20 IPO to 12-May-21 60.0% 48.3% 17.7% 15.3% 8.4% -4.5% WPR A-REIT 200 WPR A-REIT 200 WPR A-REIT 200 2 Source: Bloomberg. Analysis assumes that all distributions are reinv
Slide 8: CEO's Address
For personal use only CEO’s Address Hadyn Stephens Chief Executive Officer 8
Slide 9: FY20 Highlights
FY20 Highlights Strong growth in Distributable EPS and NTA per security, gearing below revised target range For personal use only Financial Performance Property Portfolio Capital Management Distributable EPS: 15.15cps1 $51.3m invested, $5.5m disposals c.A$250m USPP issuance + $325m bank debt refinan
Slide 10: Business Update: Leasing
Business Update: Leasing FY21 lease expiries resolved, 3.5% uplift in rental income For personal use only Lease Current Agreed Variance Variance Property State Expiry Rent Rent ($) (%) Comments Blaxland Metro May-21 $331,028 $310,000 ($21,028) (6.4%) • Market rent of $310,000 determined by independe
Slide 11: Business Update: Non-Core Disposals
Business Update: Non-Core Disposals Three assets now sold for $8.1m (22% premium to book) For personal use only • WPR has commenced the process of identifying and selling non- Lease Sale Price core assets within its portfolio State Location Expiry ($m) Yield Sold: Minto NSW Metro Aug-26 2.96 4.52% •
Slide 12: Business Update: Operator Performance
Business Update: Operator Performance1 The Alliance continued to perform strongly in the first quarter of calendar 2021 For personal use only Alliance Fuel Volumes (ML/wk) Sales Revenue ($m) +7.4% 275 62.4 (6.4%) 58.4 256 1Q20 1Q21 3Q20 sales 3Q21 sales • 1Q21 fuel volumes continued to be impacted b
Slide 13: FY21 Priorities and Outlook
FY21 Priorities and Outlook Focus on improving portfolio quality via selective acquisitions, non-core disposals and reinvesting in core For personal use only FY21 fuel expiries now resolved; remain focused on leasing two non-fuel tenant vacancies Core Portfolio Pursuing strategic capital reinves
Slide 14: Formal Business
For personal use only Formal Business Laurence Brindle Independent Chair 14
Slide 15: Financial Report, Directors' Report and Auditor's Report
Item 1 Financial Report, Directors’ Report and Auditor’s Report For personal use only To consider the Company’s Financial Report, Directors’ Report and Auditor’s Report for the financial year ended 31 December 2020. There is no vote for this item. 15
Slide 16: Re-election of Stephen Newton as a Director
Item 2 Re-election of Stephen Newton as a Director For personal use only To consider and, if thought fit, pass the following resolution as an ordinary resolution of the Company: ‘That Stephen Newton, being eligible, be re-elected as a Director of the Company.’ FOR AGAINST OPEN1 ABSTAIN2 497,250,496
Slide 17: Adoption of Remuneration Report
Item 3 Adoption of Remuneration Report For personal use only To consider and, if thought fit, pass the following resolution as an ordinary resolution of the Company: ‘That the Remuneration Report for the year ended 31 December 2020 be adopted.’ Note: The vote on this resolution is advisory only and
Slide 18: Grant of performance rights to the CEO
Item 4 Grant of performance rights to the CEO For personal use only To consider and, if thought fit, pass the following resolution as an ordinary resolution of the Company and the Trust: ‘That approval be given for the grant of performance rights to the CEO, Hadyn Stephens, as his annual long-term i
Slide 19: Amendments to the Company Constitution
Item 5 Amendments to the Company Constitution For personal use only To consider and, if thought fit, pass the following as a special resolution of the Company: ‘That the constitution of Waypoint REIT Limited be amended in the manner set out in the Explanatory Memorandum accompanying the Notice of Me
Slide 20: Amendments to the Trust Constitution
Item 6 Amendments to the Trust Constitution For personal use only To consider and, if thought fit, pass the following as a special resolution of the Trust: ‘That the Constitution of the Trust be amended in the manner set out in the Explanatory Memorandum accompanying the Notice of Meeting, a copy of
Slide 21: Closing Remarks
For personal use only Closing Remarks Formal Business Laurence Brindle Independent Chair 21