Precinct Properties Nz Ltd & Precinct Properties Investments Ltd · NZX:PCT
Precinct Properties Nz Ltd & Precinct Properties Investments — Precinct Properties New Zealand — Shareholder Meeting (November 2025)
30 slides from Precinct Properties Nz Ltd & Precinct Properties Investments's shareholder meeting presentation, Nov 18, 2025
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders 18 November 2025
Slide 2: Welcome and good morning
Welcome and good morning Anne Urlwin, Independent Director and Chair
Slide 3: Online questions and voting
Online questions and voting Questions can now be submitted through Opening of voting the webcast and will be addressed at relevant time in meeting Precinct Annual Meeting of Shareholders 3
Slide 4: Board and Executive Team
Board and Executive Team Board of Directors Executive Team Anne Urlwin Chris Judd Scott Pritchard Independent Director and Chair Independent Director CEO Alison Barrass Chris Meads Richard Hilder Independent Director Independent Director CFO Nicola Greer Mark Tume Independent Director Independent Di
Slide 5: Meeting agenda
Meeting agenda • Review business performance and activity • Shareholder questions and discussion • Consider and vote on five resolutions: • Four Precinct Properties New Zealand Limited resolutions • One Precinct Properties Investments Limited resolution Precinct Annual Meeting of Shareholders 5
Slide 6: Board composition and director skills matrix
Board composition and director skills matrix • People and Performance Committee continues to ensure that the Boards of Precinct are composed of individuals with a range of appropriate skills, knowledge and experience that are well aligned with Precinct’s strategy. • Majority of Independent Directors
Slide 7: Director remuneration
Director remuneration • Director remuneration last reviewed in 2023 • Engaged independent advisors PwC to provide independent remuneration benchmarking of non-executive director fees • The Board considers the proposed changes to be modest adjustments that are aligned with market benchmarks. Precinct
Slide 8: Our business
Our business We create vibrant, • Own and Invest mixed-use precincts that deliver premium experiences for • Develop the people who live, visit or come to work in our • Manage spaces • Partner Precinct Annual Meeting of Shareholders 8
Slide 9: Our strategy
Our strategy Leverage our Core Investment Development Capital Partnering strategic pillars to create vibrant, mixed-use precincts that provide quality experiences for the people who live, visit or come to work in our spaces, while delivering long-term value to shareholders. Precinct Annual Meeting o
Slide 10: Sustainability
Sustainability Our strategy includes the integration of sustainability across all areas of our business 2025 GRESB Result Offsetting carbon emissions Achieving an increased Global Real Offsetting upfront development Estate Sustainability Benchmark carbon emissions on completion and (GRESB) survey sc
Slide 11: Dividend Policy Update
Dividend Policy Update • During the year, Precinct undertook a comprehensive review of its dividend policy to ensure alignment with its evolving business model and strategic priorities. • Enhance dividend sustainability and provide greater flexibility. • Precinct has adopted a revised dividend polic
Slide 12: FY26 dividend 6.75 cents
FY26 dividend 6.75 cents per stapled security Total combined FY26 dividends guidance for Precinct Properties New Zealand Limited and Precinct Properties Investment The new dividend policy has been considered in relation to the FY26 dividend guidance. 12 December 2025 Q1 dividends payment Precinct An
Slide 13: Year in review
Year in review Scott Pritchard, Chief Executive Officer
Slide 14: FY25 results highlights
FY25 results highlights $150.3m Funds from Operations (FFO) from $152.3m Operating Profit before indirect directly held investment portfolio, expenses and income tax, up 3.7% on pcp up 1.2% on pcp +6.7% Increase in underlying FFO 6.54cps Adjusted Funds from Operations (pre transactions & development
Slide 15: Investment portfolio update
Investment portfolio update – as at 30 June 2025 97% 6.0yrs Weighted average Occupancy (by NLA) lease term 7% Under-renting +17.2% Uplift in contract rentals vs. market rents on new office leases (office portfolio) +4.3% Growth in contract rentals +5.3% Outperformance against Jun-24 from rent review
Slide 16: Living sector progress
Living sector progress 256 Queen Street – PBSA Pillars – Residential Dominion & Valley – Residential 22 Stanley Street – PBSA Precinct Annual Meeting of Shareholders 16
Slide 17: Capital partnering
Capital partnering Capital allocation1 Investing in value-add opportunities alongside capital partners leverages Target (outer) Precinct’s expertise in repositioning, releasing and realising value, Current delivering a higher (inner) return on invested capital through a moderate risk profile. Direct
Slide 18: Equity raise to fund growth
Equity raise to fund growth $325m New equity raised $285m Fully underwritten placement $40m Non-underwritten share purchase plan Precinct accepted $15m of oversubscriptions above the $25m target Artist’s impression: 256 Queen Street PBSA Precinct Annual Meeting of Shareholders 18
Slide 19: 61 Molesworth nearing completion
61 Molesworth nearing completion Delivery of 6 Green Star development to deliver enhanced asset and income resilience • Construction nearing completion • Q4 2025 rent start • On track to achieve 6 star ‘World Leadership’ Green Star Built rating and 5 star NABERSNZ rating • Highly attractive net leas
Slide 20: Downtown
Downtown The Downtown Car Park redevelopment is the final phase of the Commercial Bay masterplan. • Negotiations with office pre-commitment occupiers ongoing for around 50% of NLA, all from outside of Precinct’s portfolio • Main Contractor procurement has commenced with interest from several parties
Slide 21: Conclusion and outlook
Conclusion and outlook Reconfirming dividend guidance of 6.75 cents per share for FY26, consistent with FY25, reflecting an FFO payout ratio of 90-92% • Economic recovery is taking longer than • Precinct is well placed to benefit from expected; RBNZ expects lower interest rates economic recovery and
Slide 22: Shareholder Q&A
Shareholder Q&A Precinct.
Slide 23: Formal business
Formal business Precinct.
Slide 24: Resolution 1: Re-election of Director
Precinct Properties Resolution 1 Re-election of Director That Anne Urlwin, who retires by rotation and has offered herself for re-election, be re- elected as a Director of Precinct Properties New Zealand Limited The Board unanimously recommend that shareholders vote in favour Precinct Annual Meeting
Slide 25: Resolution 2: Re-election of Director
Precinct Properties Resolution 2 Re-election of Director That Chris Meads, who retires by rotation and has offered himself for re-election, be re- elected as a Director of Precinct Properties New Zealand Limited The Board unanimously recommend that shareholders vote in favour Precinct Annual Meeting
Slide 26: Resolution 3: Directors' Remuneration
Precinct Properties Resolution 3 Directors’ Remuneration That, in accordance with NZX Listing Rule 2.11.1, the amount payable to any person who from time to time holds office as a Director of Precinct be increased pursuant to the per position sums shown in the “Proposed Remuneration” column of the t
Slide 27: Resolution 4: Auditor's Remuneration
Precinct Properties Resolution 4 Auditor’s Remuneration That the Directors be authorised to fix the remuneration of Ernst & Young as auditor for Precinct Properties New Zealand Limited for the ensuing year The Board unanimously recommend that shareholders vote in favour Precinct Annual Meeting of Sh
Slide 28: Resolution 5: Auditor's Remuneration
Precinct Investments Resolution 5 Auditor’s Remuneration That the Directors be authorised to fix the remuneration of Ernst & Young as auditor for Precinct Properties Investments Limited for the ensuing year The Board unanimously recommend that shareholders vote in favour Precinct Annual Meeting of S
Slide 29: Voting and closure
Voting and closure Precinct.
Slide 30: Thank you
Thank you
Precinct Properties New Zealand — Shareholder Meeting (November 2025) on 6ix