Slide 1: 1H26 Results
1H26 RESUS 19 FEBRUARY 2026
Slide 2: Agenda
1H26 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: 1H26 Results Highlights
1H26 Results Highlights STRONG PERFORMANCE UNDERPINNED BY FAVOURABLE MARKET CONDITIONS FINANCIAL OPERATIONAL 1H26 Net Operating Earnings Operating Profit1 per Share 1H26 DPS $50.9m 10.88c 6.5c 1,773 1,496 Up 102% on 1H25 Up 102% on 1H25 Up 136% on 1H25 LOTS5 SOLD LOTS5 SETTTLED $776m EDITDA3 76% NTA
Slide 4: Australian Residential Drivers
Australian Residential Drivers MACRO CONDITIONS FOR THE RESIDENTIAL SECTOR REMAIN FAVOURABLE The global and domestic environment shape our thinking and response to managing risk and leveraging opportunities Strong Population Growth • Positive annual population growth nationally at 1.5%1 • Western Au
Slide 5: Masterplanned Communities Core Focus to Drive Growth
Masterplanned Communities Core Focus to Drive Growth EXTENSIVE EXPERIENCE AND CAPABILITY TO DELIVER Leading Australian developer of quality communities with a strong culture, brand and customer focus Masterplanned Communities Townhouses Apartments Desirable and Geographically Low Cost Base Demonstra
Slide 6: Strong Platform for Growth
Strong Platform for Growth UNDERPINNED BY 130 YEARS OF EXPERIENCE More than 27,700 lots across the pipeline Development Projects Funds Management Projects 100% Owned by Peet Co-Investment Partners in Projects 16,953 $7.5bn 10,785 $4.7bn LOTS1 GDV2 LOTS1 GDV2 PIPELINE OF 27,738 LOTS 1 $12.2bn END VAL
Slide 7: 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 1H26 HIGHLIGHTS ENVIRONMENT
Slide 8: Results Overview
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Slide 9: Group 1H26 Financial Results
Group 1H26 Financial Results NET OPERATING PROFIT1 UP 102% KEY PERFORMANCE STATISTICS 1H26 1H25 VAR (%) Lot sales 1 1,773 1,370 29% Lot sales higher mainly due to strong market condition in WA Lot settlements 1 1,496 1,009 48% Settlements higher driven by WA, Qld and SA projects Revenue2 $235.4m $18
Slide 10: Group Cash Flow Summary
Group Cash Flow Summary NET OPERATING CASH FLOW CIRCA $68M CASH FLOWS RELATED TO OPERATING ACTIVITIES 1H26($M) 1H25($M) Receipts higher due to increased settlement revenue from Development Receipts from customers 238.0 178.9 projects and Funds Management fee income Payments for development and infra
Slide 11: Group Balance Sheet
Group Balance Sheet GEARING REDUCED TO 24.7% CAPITAL MANAGEMENT METRICS 1H26 FY25 1 Does not fully reflect market value of Development projects and co-investment Total assets $1,054.3m $1,082.3m stakes in Funds Management business Book NTA per share1 $1.44 $1.37 2 Cash and debt facility headroom of
Slide 12: Our Shareholder Returns
Our Shareholder Returns DIVIDEND PER SHARE 7.75c EARNINGS DRIVING DIVIDEND PAYOUT 7.50c 6.25c 6.50c We have returned $263m 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 a
Slide 13: Operating Performance
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Slide 14: Group Operating Performance
Group Operating Performance BALANCE SHEET WEIGHTING DELIVERING RESULTS Group EBITDA1 73% 3% • Earnings are higher predominantly driven by increased lot 12% prices and settlement revenue from Qld and SA projects, EBITDA1,2 4% as well as a higher share of net profit from Funds 21% 45% Management proje
Slide 15: Group Sales and Settlement Activity
Group Sales and Settlement Activity MARKET CONDITIONS IN WA DRIVING STRONG SALES PERFORMANCE 8% 9% Group lot1 sales 29% 7% 7% 17% • Group sales totalled 1,773 lots1 for 1H26 20% SALES 9% 4% • Increased sales activity predominantly in WA COMPOSITION BY 16% 3% GEOGRAPHY • Slight increase in sales in V
Slide 16: Strong Financial Position
Strong Financial Position $776M CONTRACTS ON HAND AS AT 31 DECEMBER 2025 Value of contracts on hand has increased by 27% since year end, providing solid momentum into the second half of FY26 CONTRACTS ON HAND (VALUE) $776m Value of Contracts on Hand 27% $612m • Reflects strong market conditions acro
Slide 17: Outlook
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Slide 18: Positive Momentum into 2H FY26
Positive Momentum into 2H FY26 ROBUST WA AND QLD MARKETS DRIVING SALES AND ENQUIRY UPLIFT Net residential sales for 1H26 increased 29% compared to 1H25 Residential Sales and Leads 900 16,000 • Strong sales volumes across WA and 800 14,000 QLD, with waitlist of qualified buyers 700 • Solid price grow
Slide 19: Strategic Projects Driving Future Earnings
Strategic Projects Driving Future Earnings ACTIVATED LANDBANK AND NEW PROJECTS LEVERAGING STRONG RESIDENTIAL MARKET 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 LOTS1
Slide 20: Group Outlook
Group Outlook WELL-POSITIONED TO DELIVER GROWTH IN FY26 • Whilst cost of living pressures remain, macro factors continue Guidance Upgrade to be positive underpinning solid demand • Further upgrade to guidance with NPAT for • Underlying residential drivers are supportive including: FY26 now expected
Slide 21: Appendices
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Slide 22: Development Operating Performance
Development Operating Performance KEY PERFORMANCE STATISTICS 1H26 1H25 VAR (%) Lot1 sales 397 513 (23%) Higher settlements driven by Qld and SA projects Lot1 settlements 479 383 25% Higher revenue and EBITDA primarily due to increased Land only 450 329 37% settlements and gross margins in Qld and SA
Slide 23: Funds Management Operating Performance
Funds Management Operating Performance KEY PERFORMANCE STATISTICS 1H26 1H25 VAR (%) Lot sales and settlements higher predominantly driven by WA projects Lot1 sales 1,376 857 61% Revenue lower primarily due to decreased settlements from completed and completing project in WA, as well as timing of Lot
Slide 24: Summary Income Statement
Summary Income Statement KEY PERFORMANCE STATISTICS $M 1H26 1H25 VAR (%) Development 170.4 128.8 32% Funds Management 35.4 40.1 (12%) Net Operating Profit 102% Share of net profit of equity accounted investments 14.9 8.6 73% Other1 14.7 5.0 194% Revenue 235.4 182.5 29% EBITDA 81.1 46.9 73% Finance C
Slide 25: Summary Balance Sheet
Summary Balance Sheet KEY PERFORMANCE STATISTICS $M 1H26 FY25 Assets Cash and cash equivalents 28.5 47.3 Receivables Inventories 83.3 730.8 72.6 757.1 Borrowings $46m Investments accounted for using the equity method 204.7 198.2 Other 7.0 7.1 Total assets 1,054.3 1,082.3 Liabilities Payables 40.9 52
Slide 26: Land Bank Development Projects
Land Bank Development 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 $668m 3,375 Vantage Qld $9m 294 Village Green, Palmview Qld $15m 28 Spring Mountain Qld $42m 66 Little Eagle Qld $58m 62 Lily, Rochedale Q
Slide 27: Land Bank Funds Management Projects
Land Bank Funds Management Projects Planning Selling PROJECT NAME STATE GDV1 LOTS REMAINING2 2026 2027 2028 2029 2030 Shorehaven WA $732m 1,191 Brabham WA $854m 1,834 Burns Beach WA $62m 87 Elavale WA $191m 519 Glendalough WA $78m 65 Golden Bay WA $40m 128 Lakeland Estate WA $121m 336 Yanchep Golf E
Slide 28: 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 29: Thank you
Thank you peet.com.au 31 | FY24 Results