Storage King Group · ASX:SKG
Storage King — FY2026 Earnings Presentation
37 slides from Storage King's earnings presentation, Aug 14, 2026
Slide 1: FY26 Results Presentation
For personal use only FY26 RESULTS PRESENTATION 14 AUGUST 2026 ASX: SKG
Slide 2: Agenda
STORAGE KING GROUP FY26 RESULTS Agenda For personal use only 01 02 03 04 FY26 highlights & Finance metrics & Portfolio & platform Outlook & FY27 growth drivers capital structure update guidance Nikki Lawson , CEO Evan Goodridge , CFO Nikki Lawson , CEO Nikki Lawson , CEO 2
Slide 3: FY26 Highlights & Growth Drivers
For personal use only FY26 HIGHLIGHTS & GROWTH DRIVERS NIKKI LAWSON CROYDON, NSW
Slide 4: FY26 Highlights & Growth Drivers
FY26 HIGHLIGHTS & GROWTH DRIVERS Positioned to capitalise on the market leading brand under a new structure For personal use only Operating performance Record year for new developments Internalisation of +2.7% Australian RevPAM growth, to $348 psm² 34,500sqm (or 5%) of NLA delivered from management
Slide 5: Internalisation
INTERNALISATION SKG is now the only vertically integrated, owned, operated and managed Self Storage REIT on the ASX For personal use only Aligned Governance Retained Expertise Management incentives now linked directly to SKG’s Key leadership and staff transferred to SKG, retaining deep performance,
Slide 6: FY26 Business Metrics
FY26 BUSINESS METRICS Established portfolio remains resilient as the platform transitions to internalisation For personal use only Total Assets WACR¹ Gearing Net Tangible Assets Statutory Profit $3.9bn 5.42% 33.7% $1.77ps $154.3m ↑ 8.1% on FY25 ↓ 3 bps on FY25 ↑ 440 bps on FY25 ↑ 1.7 % on FY25 ↓ $13
Slide 7: Benefits of Self Storage
BENEFITS OF SELF STORAGE Key advantages of investing in Self Storage Flexible Contracts Diversified Customer & Asset Base For personal use only Monthly rental agreements provide agility to Wide ranging, needs based, resilient demand across respond rapidly to changing inflationary pressures cycles wi
Slide 8: Leveraging Our Competitive Advantages
LEVERAGING OUR COMPETITIVE ADVANTAGES Uniquely positioned for continued industry leadership, innovation and growth Strong and resilient income growth profile For personal use only Irreplaceable Sector Leading Multiple Growth Leading Iconic People Portfolio Operating Metrics Levers Platform Brand Lea
Slide 9: Finance Metrics & Capital Structure
For personal use only FINANCE METRICS & CAPITAL STRUCTURE EVAN GOODRIDGE CARLTON, NSW
Slide 10: Profit & Loss Overview
PROFIT & LOSS OVERVIEW Performance metrics ($m) FY26 FY25 Δ FUTURE GROWTH AND CAPITAL $193.0m established, $9.1m acquisition, $21.5m stabilising store revenue $4.7m leased tenancy + $7.7m net fee For personal use only Storage revenue 223.6 216.0 revenue from 72 third-party stores¹; RMS now active ac
Slide 11: Balance Sheet Overview
BALANCE SHEET OVERVIEW Growing asset base underpinned by a high-quality portfolio Key metrics ($ million) FY26 FY25 Comments Established portfolio $2,591.8 $2,578.1¹ 103 stores valued at $4,616/sqm (FY25: 103 stores) For personal use only Acquisition portfolio $132.6 $120.6¹ 10 stores valued at $3,4
Slide 12: Capital Management
CAPITAL MANAGEMENT Currently at midpoint of target gearing range Gearing capacity¹ For personal use only NTA SKG total assets FY26 avg. Gearing³ Debt term to cost of debt² maturity $1.77ps $3.9bn ~$400m 3.1% 33.7% 2.3yrs Debt expiry profile Interest rate hedging on drawn debt Hedging profile expiry
Slide 13: Valuation Update
VALUATION UPDATE Portfolio value growth reflects the quality of the Storage King platform $19m $3,639m $168m $52m For personal use only ($40m) $53m $78m $3,367m ($5m) $78m 30 June 2025 Acquisitions Divestments Capex FX & Other Market income Cap rate 30 June 2026 store asset growth tightening store a
Slide 14: More Than NTA
MORE THAN NTA For personal use only Net Tangible Assets Platform Value Not in NTA Additional Upside • Each property valued as if • Storage King brand, people and • Portfolio premium – comparable individually owned culture sales 50-100bps tighter than individual cap rates applied • Each property valu
Slide 15: Investment Portfolio Performance
For personal use only INVESTMENT PORTFOLIO PERFORMANCE NIKKI LAWSON OLYMPIC PARK, NSW
Slide 16: High Growth Segments
HIGH GROWTH SEGMENTS The development pipeline and acquisition strategy create continued asset growth Total Assets Stabilising & Development segments For personal use only +25% CAGR since FY18 $1,200m Value has nearly doubled since de - stapling in 2023 $3,907m $3,614m $1,000m $3,232m $3,072m $800m $
Slide 17: Increased Allocation to Higher Growth Segments
INCREASED ALLOCATION TO HIGHER GROWTH SEGMENTS Acquisitions, stabilising portfolio and development sites account for 29% of total property asset value Operating / Trading Stores For personal use only Segment Established portfolio Acquisition portfolio Stabilising portfolio Development sites Mature s
Slide 18: Potential Storage Revenue Uplift
POTENTIAL STORAGE REVENUE UPLIFT At maturity, acquisition stores, stabilising stores and development sites forecast to add ~$71 million p.a.1 to storage revenue2 FY26 Revenue Potential revenue uplift at maturity For personal use only $250m $200m $71m p.a. potential uplift $150m assuming FY26 establi
Slide 19: Store Operating Trends by Region
STORE OPERATING TRENDS BY REGION SA and NSW fastest growing regions in the Established Portfolio NSW 30% FY25 RevPAM $¹ FY26 RevPAM $ VIC 19% For personal use only % NLA Breakdown by State 392 QLD 18% 379 NZ 13% 341 339 335 334 338 333 334 WA 11% 327 322 311 320 295 ACT 7% 274 258 SA 2% NSW 37% % Va
Slide 20: Development Pipeline
DEVELOPMENT PIPELINE Set to deliver 16¹ developments (adding 15% to NLA) and nine expansions (adding 3% to NLA) in the short to medium term New store projects Expansion of existing stores For personal use only Spend to date² Cost to complete² Est. completion value NLA Cost to complete NLA $313m $257
Slide 21: Completed Developments and Expansions
COMPLETED DEVELOPMENTS AND EXPANSIONS Four next generation stores opened and five expansions in FY26 have added 34,500 sqm (+5%) to portfolio NLA For personal use only Most Recent SKG created stores Most Recent SKG Expansions Opening NLA Opening Expansion Total NLA Store Occupancy Store Period (sqm)
Slide 22: Platform Initiatives
For personal use only PLATFORM INITIATIVES MASCOT, NSW
Slide 23: Driving Growth Through Customer Experience
DRIVING GROWTH THROUGH CUSTOMER EXPERIENCE Our sector leading brand & superior customer experience drive the top preference scores in the industry For personal use only Customer Attraction Customer Experience #1 Preferred Brand in Australia and New Most recognised brand¹ + Strong conversion³: 24% =
Slide 24: Revenue Management System Evolution
REVENUE MANAGEMENT SYSTEM EVOLUTION With deployment completed, iteration and optimisation the focus RMS vs Non-RMS ECRI Average¹ only Focused delivery team Focused revenue management team formed and operating 1 July 2026 use Average Rate Increase RMS Activated For personal Value Pricing ( 2.55%) Re
Slide 25: AI – An Opportunity Already Delivering
AI – AN OPPORTUNITY THAT IS ALREADY DELIVERING Targeted use cases in customer experience, productivity and brand visibility For personal use only Enhanced Sir Stow - A- Lot Chatbot Improved customer experience and journey on our website. Enabling access to live pricing, availability and customer inf
Slide 26: Sustainability Highlights & Initiatives
SUSTAINABILITY HIGHLIGHTS & INITIATIVES Customer experience: 72 NPS score (FY25: 70 NPS score) For personal use only Gender equality, diversity and inclusion: Whole business: 53% female (FY25: 52%) Senior management: 31% female (FY25: 25%) Net zero by 2030 scope 1 and 2 GHG ¹: We remain committed to
Slide 27: Outlook & Guidance
For personal use only OUTLOOK & GUIDANCE ONEHUNGA, NZ
Slide 28: Priorities for FY27
PRIORITIES FOR FY27 SKG’s levers to generate positive and sustainable earnings growth Successful internalisation For personal use only Deliver forecasted efficiencies while culturally and operationally embedding new structure Platform specialisation and optimisation Expand revenue management system
Slide 29: Outlook & Guidance
OUTLOOK & GUIDANCE For personal use only Storage King enters the year Outlook FY27 Guidance SKG Strategy from a position of strength, • Internalisation brings SKG's portfolio, • Organic – positive sector drivers, • FY27 distribution guidance of 4.50 with a simpler structure, a supported by sector le
Slide 30: Appendices
For personal use only APPENDICES STATUTORY EARNINGS RECONCILIATION 31 FFO WATERFALL 32 FY26 BALANCE SHEET ALLOCATION 33 CAPITAL METRICS 34 STORAGE KING NETWORK 35 GLOSSARY 36 IMPORTANT INFORMATION 37 CHATSWOOD 2, NSW
Slide 31: Statutory Earnings Reconciliation
STATUTORY EARNINGS RECONCILIATION For personal use only Performance metrics ($m) FY26 FY25 Term Definition Statutory Profit 154.3 289.0 Fair value adjustments (76.4) (212.3) FFO is in line with the PCA’s definition and comprises net Depreciation on owner occupied PP&E 6.7 5.2 profit/loss after tax a
Slide 32: FFO Waterfall
FFO WATERFALL Acquisition and stabilising stores provide a pathway for future growth, with FFO near-term absorbing the associated operating and interest costs For personal use only $4.6m $0m $2.4m $0.6m $85.0m ($4.3m) ($0.6m) $1.4m $82.1m ($1.1m) ($6.1m) FY25 Established Acquisition Stabilising Leas
Slide 33: FY26 Balance Sheet Allocation
FY26 BALANCE SHEET ALLOCATION 30 June 2026 30 June 2025 For personal use only $3.9bn Total Assets $3.6bn Total Assets Established stores $2,592m Established stores $2,577m 84% 85% Operating Stores Acquisition stores $132m Operating Stores Acquisition stores $187m $3.3bn $3.1bn Stabilising stores $56
Slide 34: Capital Metrics
CAPITAL METRICS Capital management metrics FY26 FY25 Comments Total bank debt facilities $1,653m $1,366m As part of internalisation, upsized facilities by $300m with pricing maintained For personal use only Total bank debt drawn $1,395m $1,148m Term to maturity 2.3yrs 2.3yrs Interest rate hedging 72
Slide 35: Storage King Network
STORAGE KING NETWORK 204 OPERATING STORES ACROSS AUS & NZ 132 72¹ 1.2 Million SKG STORES For personal use only LICENSED Total land area (sqm) Storage King Group Stores SUNSHINE COAST QLD 22 22 1 BRISBANE WA 14 3 14 14 151 SA 3 1 REGIONAL QLD 3 GOLD COAST 7 5 Assets owned by SKG NEWCASTLE 132 trading
Slide 36: Glossary
GLOSSARY Term Definition Term Definition For personal use only ABG Abacus Group LFL Like for like ANZ Australia and New Zealand LTI Lost time injuries Australian equivalents to International Financial Reporting AIFRS NLA Net lettable area standards ASX Australian Securities Exchange NTA Net tangible
Slide 37: Important Information
IMPORTANT INFORMATION For personal use only 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 Storage King Group securities (ASX:SKG). Storage King Group believ