Slide 1: FY25 Results Presentation
FY25 RESULTS PRESENTATION 14 AUGUST 2025 Storage King Brendale, QLD Australia
Slide 2: Agenda
ABACUS STORAGE KING FY25 RESULTS Agenda 01 FY25 highlights & growth drivers 02 Finance metrics & capital structure 03 Portfolio and platform update 04 Outlook & guidance Steven Sewell, Evan Goodridge, Nikki Lawson, Steven Sewell, Managing Director CFO GGM Self Storage Managing Director Fund Manager
Slide 3: FY25 Business Metrics
FY25 BUSINESS METRICS Ongoing operational strength drives higher profiltability TOTAL ASSETS WACR1 GEARING NET TANGIBLE ASSETS STATUTORY PROFIT $3.6bn 5.45% 29.3% $1.74ps $289.0m 11.8% on FY24 10 bps on FY24 60 bps on FY24 10.1% on FY24 $150.8m on FY24 ESTABLISHED2 ESTABLISHED2 FUNDS FROM
Slide 4: Leveraging Our Competitive Advantages
LEVERAGING OUR COMPETITIVE ADVANTAGES Uniquely positioned for continued industry leadership, innovation and growth Strong and resilient income growth profile Irreplaceable Sector Leading Multiple Growth Leading Iconic People Portfolio Operating Metrics Levers Platform Brand Leadership scale with 200
Slide 5: FY25 Highlights & Growth Drivers
Storage King Dee Why, NSW Australia FY25 HIGHLIGHTS & GROWTH DRIVERS Multi-pronged growth strategy, leveraging Australia and New Zealand’s most recognised Self Storage brand Operating performance1 Developments 4.5% revPAM growth, to $340 psm Strong balance Development pipeline of 17 assets, adding 4
Slide 6: Financial Metrics & Capital Structure
Image placeholder – new filtered photos to be inserted FINANCIAL METRICS & CAPITAL STRUCTURE EVAN GOODRIDGE Storage King Avondale, QLD StorageKing Storage KingPrestons, Deagon, NSW QLD Australia Australia
Slide 7: FFO Waterfall
FFO WATERFALL ASK operating earnings experienced strong growth in FY25, with all store segments growing revenue year-on-year $4.9m $9.6m $3.6m ($0.4m) $2.2m $85.0m $81.1m ($11.9m) ($1.9m) ($1.1m) ($1.1m) Leased FY24 Established Acquisition Stabilising tenancy and Operating Other1 G&A Net interest Ta
Slide 8: Balance Sheet Overview
Storage King Robina, QLD Australia BALANCE SHEET OVERVIEW Positioned to support multi-pronged, disciplined growth strategy Key metrics ($ million) FY25 FY24 Comments Established portfolio $2,577.4 $2,350.91 102 stores valued at $4,598/sqm (FY24: 103 stores) Acquisition portfolio $186.7 $164.51 12 st
Slide 9: Capital Management
CAPITAL MANAGEMENT New unsecured debt platform and strong acquisition capacity NTA ASK total assets Funding capacity1 FY25 avg. cost of debt2 Gearing3 Debt term to maturity $1.74ps $3.6bn >$600m 3.4% 29.3% 2.3yrs Debt expiry profile Interest rate hedging on drawn Hedging profile expiry debt as at 30
Slide 10: Valuation Update
Storage Artist’s King St Impression: Lukes,King Storage NewMascot, Zealand NSW Australia VALUATION UPDATE Resilient property values supported by income growth and structural sector drivers $3,367m $57m $174m $2,928m $153m $84m ($29m) 30 June 2024 Acquisitions Divestments Capex & other Market income
Slide 11: Investment Portfolio Performance
Storage King Leppington, NSW Australia Image placeholder – new filtered photos to be inserted INVESTMENT PORTFOLIO PERFORMANCE NIKKI LAWSON Storage King Avondale, QLD Artist’s Impression: Storage King Mascot, NSW Australia
Slide 12: FY25 Portfolio Snapshot
FY25 PORTFOLIO SNAPSHOT Acquisitions, stabilising portfolio and development sites account for 23% of total property asset value Operating / Trading Stores Segment Established portfolio Acquisition portfolio Stabilising portfolio Development sites Mature stores open since 1 July Mature stores acquire
Slide 13: Store Operating Trends by Region
STORE OPERATING TRENDS BY REGION WA and VIC fastest growing regions in the established portfolio % NLA Breakdown by State 1 FY24 RevPAM $ FY25 RevPAM $ NSW 29% VIC 19% QLD 18% NZ 13% WA 11% 383 359 ACT 8% 348 340 334 334 333 325 324 320 SA 2% 314 308 301 297 258 249 % Value Breakdown by State NSW 36
Slide 14: Development Pipeline
DEVELOPMENT PIPELINE Set to deliver 171 developments (adding 15% to NLA) and ten expansions (adding 3% to NLA) in the short to medium term New store projects Expansion of existing stores Spend to date2 Cost to complete2,3 Est. completion value NLA Cost to complete NLA $232m $273m $622m 101,000sqm $6
Slide 15: Completed Developments and Expansions
COMPLETED DEVELOPMENTS AND EXPANSIONS Since FY23, new stores have added 66,800sqm of NLA (+12% to portfolio) and expansions have added 9,400 sqm (+2% to portfolio) Newly created stores Expansions Storage King Brendale, QLD NLA Expansion Total NLA Store Open Date Occupancy Store Date Occupancy (sqm)
Slide 16: Platform Initiatives
Image placeholder – new filtered photos to be inserted PLATFORM INITIATIVES Storage StorageKing KingClayton, Epping, VIC Storage King Woonona, NSW Australia
Slide 17: Storage King – Leading Platform
STORAGE KING – LEADING PLATFORM Focused approach to long term brand management CUSTOMER Rated most recognised Self AGREEMENTS1 Storage brand in Australia2 75,000+ AVERAGE CUSTOMER NPS1 Rated most searched Self Storage brand in Australia3 70 5 points vs. FY24 1. ASK owned/managed stores as at 30 Ju
Slide 18: Optimising Revenue Through Automation
Storage King Dee Why, NSW Australia OPTIMISING REVENUE THROUGH AUTOMATION ASK’s pathway to building an intelligent, data-driven pricing system for long-term growth Four stores Trialing trialling automated staffless satellite pricing system operations 3) Advanced analytics and optimisation • Test pri
Slide 19: Sustainability Highlights & Initiatives
SUSTAINABILITY HIGHLIGHTS & INITIATIVES Customer experience: 70 NPS score (FY24: 65 NPS score) Gender equality, diversity and inclusion: Whole business: 52% female (FY24: 52%) Senior management: 28% female (FY24: 24%) Net zero by 2030 scope 1 and 2 GHG1: We remain committed to the Net Zero target fo
Slide 20: Outlook & Guidance
OUTLOOK & GUIDANCE STEVEN SEWELL Storage King Brendale, QLD Australia
Slide 21: Outlook & Guidance
Storage King Prestons, NSW Australia OUTLOOK & GUIDANCE Multi-pronged growth Outlook FY26 Guidance ASK Proposal Update strategy positions ASK • Organic – positive sector drivers, • FY26 distribution guidance of 6.2 ASK announced a revised non-binding well to leverage our key supported by sector lead
Slide 22: Appendices
APPENDICES 24x STATUTORY EARNINGS RECONCILIATION SLIDE 23 FFO RECONCILIATION SLIDE 24 BALANCE SHEET ALLOCATION SLIDE 25 CAPITAL METRICS SLIDE 26 STORAGE KING NETWORK SLIDE 27 GLOSSARY SLIDE 28 IMPORTANT INFORMATION SLIDE 29 Storage King Gregory Hills, NSW, Australia
Slide 23: Statutory Earnings Reconciliation
STATUTORY EARNINGS RECONCILIATION Performance metrics ($m) FY25 FY24 TERM DEFINITION Statutory profit 289.0 138.2 FFO is in line with the PCA’s definition and comprises net Fair value adjustments (212.3) (45.3) profit/loss after tax attributable to stapled security holders, Depreciation on owner occ
Slide 24: Operating Profit and FFO Reconciliation
OPERATING PROFIT AND FFO RECONCILIATION Performance metrics ($m) FY25 FY24 Comments Storage revenue 216.0 197.9 $190.4m from established, $13.3m from acquisitions and $12.4m from stabilising assets Leased tenancy $5.2m, net fee revenue from 76 third party stores $7.2m (FY24: $7.9m from 76 third Leas
Slide 25: FY25 Balance Sheet Allocation
FY25 BALANCE SHEET ALLOCATION 30 June 2025 30 June 2024 $ 3.6bn 85% OPERATING Established stores Total Assets $2,577m $ 3.2bn 84% OPERATING Established stores Total Assets $2,351m Acquisition stores $187m Acquisition stores $165m STORES STORES $3.1bn Stabilising stores $331m $2.7bn Stabilising store
Slide 26: Capital Metrics
CAPITAL METRICS Capital management metrics FY25 FY24 Comments Total bank debt facilities $1,366m $1,250m New unsecured standalone NZ syndicated facility Total bank debt drawn $1,148m $990m Term to maturity 2.3yrs 2.7yrs Term bridge facility to be refinanced with longer tenor Interest rate hedging 86
Slide 27: Storage King Network
STORAGE KING NETWORK 204 operating stores across Australia & New Zealand 128 761 1.2 million Total land area (sqm) REGIONAL QLD Abacus Storage King stores LICENSED 149 3 QLD WA 23 22 SUNSHINE COAST 1 BRISBANE 14 14 13 4 GOLD COAST 8 5 Assets owned by Abacus Storage King SA 128 trading stores NSW NEW
Slide 28: Glossary
GLOSSARY Term Definition Term Definition ABG Abacus Group JV Joint venture ANZ Australia and New Zealand LTI Lost time injuries Australian equivalents to International Financial Reporting AIFRS NLA Net lettable area Standards ASK Abacus Storage King NTA Net tangible assets ASX Australian Securities
Slide 29: Important Information
IMPORTANT INFORMATION The information provided in this document is general, and may not be suitable for the specific purpose of any user of this document. It is not financial advice or a recommendation to acquire Abacus Storage King securities (ASX:ASK). Abacus Storage King believes that the informa