Slide 1: FY25 Results
Slide 2: FY25 Results Agenda
FY25 Results AGENDA 01 02 03 04 05 Results Results Operating Outlook Q&A Highlights Overview Performance Peet acknowledges Aboriginal and Torres Strait Islander Peoples as the Traditional Owners of the lands and waters of Australia, and we pay our respect to their Elders past and present. We recogni
Slide 3: FY25 Results Highlights
FY25 Results Highlights STRONG PERFORMANCE UNDERPINNED BY FAVOURABLE MARKET CONDITIONS FINANCIAL OPERATIONAL FY25 Net Operating Earnings FY25 DPS Operating Profit1 per Share $58.5m 12.48c 7.75c 2,768 2,642 Up 82% on FY24 LOTS5 SOLD LOTS5 SETTTLED Up 60% on FY24 Up 61% on FY24 $612m 71% NTA2 EDITDA3
Slide 4: Australian Residential Drivers
Australian Residential Drivers FAVOURABLE MACRO CONDITIONS FOR THE RESIDENTIAL SECTOR The global and domestic environment shape our thinking and response to managing risk and leveraging opportunities Strong Population Constrained Housing Favourable Growing Appetite from Growth Supply Borrowing Envir
Slide 5: Strategic Review to Unlock Value
Strategic Review to Unlock Value LEADING INVESTMENT BANK APPOINTED Peet has commenced a targeted review of its business to ensure it is optimally positioned to capitalise on the favourable market dynamics of the Australian residential sector Strong Performance Enables Strategic Foresight • With Peet
Slide 6: Diversified Product Offering in Growth Corridors
Diversified Product Offering in Growth Corridors EXTENSIVE EXPERIENCE AND CAPABILITY TO DELIVER Leading Australian developer of quality communities with a strong culture, brand and customer focus STRATEGIC PILLARS Masterplanned Communities Townhouses Apartments Desirable and Geographically Low Cost
Slide 7: Strong Platform for Growth
Strong Platform for Growth UNDERPINNED BY 130 YEARS OF EXPERIENCE Development Funds Management – Co-Investment Partners in Projects 100% Company Owned Wholesale / Institutional Retail Joint Ventures 18,685 8,044 2,752 1,304 LOTS1 LOTS1 LOTS1 LOTS1 $8.2bn $3.4bn $0.9bn $0.7bn GDV2 GDV2 GDV2 GDV2 PIPE
Slide 8: Delivering Against FY25 Strategic Objectives
Delivering Against FY25 Strategic Objectives INVEST EXPAND MAINTAIN VALUE CREATION Product offering and In high quality land Focus on capital Unlock short-term and geographic presence to appeal in strategic locations management long-term value to wider variety of customers • Acquired c.480 lots in P
Slide 9: Strong Foundations Built Over Time
Strong Foundations Built Over Time STRATEGIC PROJECTS DRIVING FUTURE EARNINGS Our long life, high margin portfolio of projects has been strategically acquired and developed since 2014 and now underpins a confident outlook over the next decade PROJECT STATE 2014 2015 2016 2017 2018 2019 2020 2021 202
Slide 10: Environment, Social, Governance
Environment, Social, Governance OUR COMMITMENT As a leading residential developer with a large national footprint, our approach focuses on sustainable practices to create long-term shared value for our communities, shareholders and people ENVIRONMENT | SOCIAL | GOVERNANCE FY25 HIGHLIGHTS ENVIRONMENT
Slide 11: Results Overview
Results Oyepyrenr Where Vail belong
Slide 12: Group FY25 Financial Results
Group FY25 Financial Results NET OPERATING PROFIT UP 60% KEY PERFORMANCE STATISTICS FY25 FY24 VAR (%) Lot sales higher mainly due to increased activity in Qld Lot sales1 2,768 2,504 11% Lot settlements1 2,642 2,418 9% Settlements higher driven by Qld and WA projects Revenue2 $437.3m $314.4m 39% EBIT
Slide 13: Group Cash Flow Summary
Group Cash Flow Summary NET OPERATING CASH FLOW MORE THAN $100M CASH FLOWS RELATED TO OPERATING ACTIVITIES FY25 ($M) FY24 ($M) Receipts higher due to increased settlement revenue from Development Receipts from customers 440.6 302.4 projects and Funds Management fee income Payments for development an
Slide 14: Group Balance Sheet
Group Balance Sheet GEARING REDUCED TO 27.5% CAPITAL MANAGEMENT METRICS FY25 FY24 Does not fully reflect market value of Development projects and co-investment Total assets1 $1,082.3m $1,094.1m stakes in Funds and JVs Book NTA per share1 $1.37 $1.31 Cash and debt facility headroom of more than $200m
Slide 15: Our Shareholder Returns
Our Shareholder Returns DIVIDENDS PER SHARE 7.75c EARNINGS DRIVING DIVIDEND PAYOUT 7.50c 6.25c We have returned $232m to shareholders since FY18, through fully franked dividends and our ongoing on- 4.25c market share buy-back 3.50c • Disciplined application of our capital management framework and st
Slide 16: Operating Performance
Operating Verformonce Where Vail belong
Slide 17: Group Operating Performance
Group Operating Performance BALANCE SHEET WEIGHTING DELIVERING RESULTS Group EBITDA1 58% 16% • Earnings are higher predominantly driven by increased lot prices and settlement revenue from Qld projects and Funds Management fee income 21% EBITDA1,2 9% COMPOSITION 49% • Contribution from eastern states
Slide 18: Group Sales and Settlement Activity
Group Sales and Settlement Activity MARKET CONDITIONS IN WA, Qld & SA DRIVING STRONG SALES PERFORMANCE 6% Group lot1 sales 11% 11% 7% 34% • Group lot sales totalled 2,768 lots1 for FY25 20% • Increased sales activity experienced predominantly 10% SALES 16% 7% COMPOSITION BY in Qld GEOGRAPHY 14% 24%
Slide 19: FY25 Enquiry Levels Higher Than 10-Year Quarterly Average
FY25 Enquiry Levels Higher Than 10-Year Quarterly Average 16000 14000 12000 10000 Quarterly enquiry levels remain strong: 8000 • FY25 enquiries increased by 5% 10 YEAR AVERAGE compared with FY24 6000 • Organic enquiries in second half of FY25 began to normalise to sustainable levels 4000 • Continued
Slide 20: Strong Financial Position
Strong Financial Position $612M CONTRACTS ON HAND AS AT 30 JUNE 2025 Value of contracts on hand has increased by 4% since year end, providing solid momentum into FY26 CONTRACTS ON HAND (VALUE) $642m $612m Value of Contracts on Hand 27% $481m $476m • Reflects strong market conditions across the Group
Slide 21: Outlook
Where Vail belong
Slide 22: New Projects Provide Medium Term Earnings Visibility
New Projects Provide Medium Term Earnings Visibility PIPELINE OF APPROXIMATELY 31,000 LOTS1 UNDERPINS FUTURE EARNINGS FY26 – FY27 NEW PROJECT RELEASE SCHEDULE2 PROJECT PROJECT LOTS1/ GDV4 LIFE PROJECT NAME STATE SEGMENT LAUNCH3 UNITS (YEARS) Communities Aston Vic Owned FY26 806 $350m 5 • Up to five
Slide 23: Group Outlook
Group Outlook DELIVERY PROGRAM IN PLACE TO MEET MARKET DEMAND • Whilst cost of living pressures remain, macro factors are Focused on positioning the building positive momentum and improving consumer Group for growth through a confidence prudent approach to • Underlying residential drivers remain sup
Slide 24: Appendices
Where Vail belong
Slide 25: Development Operating Performance
Development Operating Performance KEY PERFORMANCE STATISTICS FY25 FY24 VAR (%) Lot sales1 1,065 776 37% Higher sales driven by Qld projects, particularly at Flagstone Lot settlements1 843 804 5% Land only 714 743 (4%) Higher revenue and EBITDA2,3 primarily due to increased settlements in Qld and Med
Slide 26: Funds Management Operating Performance
Funds Management Operating Performance KEY PERFORMANCE STATISTICS FY25 FY24 VAR (%) Lot sales lower in WA due to stage release timing and impact of Lot sales1 1,318 1,496 (12%) higher prices Lot settlements1 1,334 1,277 4% Revenue increased due to higher management fees as a result of higher prices
Slide 27: Joint Venture Operating Performance
Joint Venture Operating Performance KEY PERFORMANCE STATISTICS FY25 FY24 VAR (%) Lot sales1 385 232 66% Higher sales attributable to improvement at Googong, NSW. Lot settlements1 465 337 38% Higher settlements achieved across all JV projects Revenue $43.7m $30.9m 41% Equity accounted profits decreas
Slide 28: Summary Income Statement
Summary Income Statement KEY PERFORMANCE STATISTICS $M FY25 FY24 VAR (%) Development 313.2 225.0 39% Funds Management 41.3 24.3 70% Net Operating Profit 60% Joint Venture 43.7 30.9 41% Share of net profit of equity accounted investments 23.3 20.5 14% Other1 15.8 13.7 15% Revenue 437.3 314.4 39% EBIT
Slide 29: Summary Balance Sheet
Summary Balance Sheet KEY PERFORMANCE STATISTICS $M FY25 FY24 Assets Cash and cash equivalents 47.3 23.8 Receivables 72.6 74.9 Borrowings $48.5m Inventories 757.1 790.8 Investments accounted for using the equity method 198.2 194.9 Other 7.1 9.6 Total assets 1,082.3 1,094.0 Liabilities Payables 52.4
Slide 30: Land Bank Development Key Projects
Land Bank Development Key Projects Planning Selling PROJECT NAME STATE GDV1 LOTS REMAINING2 2026 2027 2028 2029 2030 Greenlea WA $2m 1 Glyde Street WA $6m 1 Other WA $752m 3,843 Vantage Qld $9m 310 Village Green, Palmview Qld $34m 68 Spring Mountain Qld $53m 87 Little Eagle Qld $56m 64 Lily, Rocheda
Slide 31: Land Bank Funds Management Key Projects
Land Bank Funds Management Key Projects Planning Selling PROJECT NAME STATE GDV1 LOTS REMAINING2 2026 2027 2028 2029 2030 Shorehaven WA $808m 1,295 Brabham WA $816m 1,931 Burns Beach WA $100m 146 Elavale WA $225m 645 Glendalough WA $97m 91 Golden Bay WA $67m 217 Lakeland Estates WA $148m 498 Yanchep
Slide 32: Land Bank Joint Venture Key Projects
Land Bank Joint Venture Key Projects Planning Selling PROJECT NAME STATE GDV1 LOTS REMAINING2 2026 2027 2028 2029 2030 The Village at Wellard WA $2m 5 Edens Crossing Qld $129m 263 Googong3 NSW $576m 1,036 Total Joint Venture $707m 1,304 Total Pipeline $13,227m 30,785 Notes: 1 Gross Development Value
Slide 33: Disclaimer
Disclaimer While every effort is made to provide accurate and complete information, Peet does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use. This presentation contains forward-looking statements, including sta
Slide 34: Thank you
Thank you peet.com.au 31 | FY24 Results