Slide 1: Asset Plus Annual Meeting 2023
Asset Plus Annual Meeting 2023 22 August 2023
Slide 2: Virtual meeting information
Virtual meeting information Registering to vote Click on the ‘Get a voting card’ box at the top of the webpage or below the virtual presentation and webcast. Asking questions Only shareholders are eligible to ask questions. You will only be able to ask a question after you have registered to vote. I
Slide 3: Voting virtually
Voting virtually 1. Click the “Get a Voting Card” button at the top or bottom of the page 2. Enter your CSN/Holder Number or Proxy Number and click “Submit Details and Vote” 3. Fill out your voting card for each item of business 4. Click “Submit Vote” or “Submit Partial Vote.”* Assetplusnz.co.nz 3
Slide 4: Agenda
Agenda A Chairman’s address B Manager's presentation C Shareholder questions D Resolutions E General Business Assetplusnz.co.nz Asset Plus 4
Slide 5: A - Chairman's address
A - Chairman’s address Assetplusnz.co.nz 5 Asset Plus 5
Slide 6: B - Manager's presentation
B - Manager’s presentation Assetplusnz.co.nz 6 Asset Plus 6
Slide 7: Overview
Overview 6-8 MUNROE LANE 6-8 MUNROE LANE • Total loss for the year net of tax of $13.05m (FY22 profit of $2.93m). • Result impacted by $13.04m of revaluation and disposal losses and reduced rental income, due to divestments and lower occupancy (35 Graham Street). • AFFO1 loss of $0.28m ($4.22m profi
Slide 8: Key metrics
Key metrics Portfolio value Properties* Occupancy* WALE* Loan-to-value Net tangible Ratio* assets March 2023 $216.6m 3* 37.0% 1.2 years 31.5% 40.4 cps August 2023 $185.0m 2* 42.0% 6.3 years 22.0% 40.4 cps *35 Graham Street is unconditionally sold with a deferred settlement but is represented in the
Slide 9: Significant activity during the year
Significant activity during the year 6-8 MUNROE LANE Munroe Lane development complete, with Auckland Council lease commencing on 17 May 2023 & Practical Completion achieved on 13 July 2023 Settlement of Eastgate and Kamo properties completed during the year Unconditional sale of 35 Graham Street wit
Slide 10: Munroe Lane, Albany
Munroe Lane, Albany 6-8 MUNROE LANE • Auckland Council lease commenced on 17 May 2023 – base build completion date excluding Tenant changes. • Practical Completion achieved on 13 July 2023. • Project was delayed seven months from the original mid- December 2022 target completion date. Approximately
Slide 11: Munroe Lane - leasing update
Munroe Lane - leasing update 6-8 MUNROE LANE • Auckland Council now looking to sublease Level 5 given mayoral mandate to reduce costs. • Agreement to Lease signed with reputable café operator for kiosk located in the heart of the ground floor lobby. • Leasing interest has increased as the developmen
Slide 12: Divestment of 35 Graham Street
Divestment of 35 Graham Street 35 GRAHAM STREET, AUCKLAND | ARTIST’S IMPRESSION • Unconditionally sold, with a deferred settlement date of 1 December 2023 at the earliest. • Purchaser has a right to defer settlement for a further 12 months, subject to additional consideration of $3.0 million and a f
Slide 13: Other recent divestments
Other recent divestments Eastgate Kamo Stoddard Road • Sale price of $43.45 million • Sale price of $2.7 million • Sale price of $36.75m following on market campaign • Settled on 29 August 2022 after • Settled on 30 November 2022 title issue was rectified by • Settled on 1 May 2023 • Funds from the
Slide 14: Outlook
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Slide 15: Outlook
Outlook • The dividend remains suspended which is subject to quarterly review. It is likely to remain suspended until the future direction of the company is confirmed. • The company is forecast to still be in an operating loss position post-Munroe Lane completion, absent further leasing, up until th
Slide 16: C - Shareholder Questions
C - Shareholder Questions Assetplusnz.co.nz Asset Plus 16
Slide 17: Shareholder questions
Shareholder questions 1. Click the “Ask a Question” button at either the top or bottom of the page. 2. Click “Text Question”, select the item of business from the drop- down menu and type your question in the space provided. 3. Click “Submit Question” once you have formatted and typed your question.
Slide 18: D - Resolutions
D - Resolutions Assetplusnz.co.nz Asset Plus 18
Slide 19: Re-election of Carol Campbell as a Director
Resolution 1 Re-election of Carol Campbell as a Director Carol Campbell retires under NZX Listing Rule 2.7.1 and, being eligible, offers herself for re-election as a Director of the Company. “That Carol Anne Campbell be re-elected as a Director of the Company.” Assetplusnz.co.nz 21 Asset Plus 19
Slide 20: Auditors' fees and expenses
Resolution 3 Auditors’ fees and expenses “That the Board be authorised to fix the auditors’ fees and expenses from time to time.” Assetplusnz.co.nz 23 Asset Plus 20
Slide 21: Voting instructions
Voting instructions In Room Online Results • Will be conducted via a poll. • To vote, you will need to click • Will be published on Asset Plus’ “Get Voting Card” within the online website and will be announced to • Link will have provided you with a meeting platform. the NZX this afternoon as soon a
Slide 22: E - General Business
E - General Business Assetplusnz.co.nz Asset Plus 22
Slide 23: Where to find us
Where to find us Auckland Office Bayleys House Level 2, 30 Gaunt Street Auckland 1010 New Zealand PO Box 37953 Parnell Auckland 1151 Telephone +64 (9) 300 6161 Facsimile +64 (9) 300 616
Slide 24: Important notice
Important notice This presentation contains not only a review of operations, but may also contain some forward looking statements (including forecasts and projections) about Asset Plus Limited (APL) and the environment in which APL operates. Because these statements are forward looking, APL’s actual