Bwp Trust · ASX:BWP
Bwp Trust — Shareholder Meeting (July 2025)
23 slides from Bwp Trust's shareholder meeting presentation, Jul 28, 2025
Slide 1: Extraordinary General Meeting
Extraordinary General For personal use only Meeting > BWP Internalisation > BWP and Bunnings lease reset and capital investment 28 July 2025
Slide 2: Evacuation Diagram
Evacuation Diagram For personal use only 2 E X T RAORDIN ARY G E N E RAL M E E T I NG
Slide 3: Chairman's introduction
Chairman’s introduction For personal use only Tony Howarth Non-Executive Chairman BWP Management Limited
Slide 4: Acknowledgement of Country
Acknowledgement of Country For personal use only We acknowledge the Traditional Owners of Country throughout Australia and their continuing connection to lands and waterways upon which we depend. We pay our respects to their Elders, past, present, and emerging. PHOTO: HANS WISMEIJER 4 E X T RAORDIN
Slide 5: Agenda
Agenda For personal use only 1. Chairman’s introduction 2. Managing Director’s presentation 3. Formal business 4. Questions 5. Proxy voting results 6. Voting procedures 7. Meeting close 5 E X T RAORDIN ARY G E N E RAL M E E T I NG
Slide 6: Why has this meeting been convened?
Why has this meeting been convened? For personal use only > To Consider the Proposed Transaction and the resolutions required to implement that Proposed Transaction > All BWP unitholders were sent a notice of meeting, explanatory memorandum and prospectus (Meeting Booklet), dated 27 June 2025 which
Slide 7: Conditions precedent
Conditions precedent For personal use only > BWP financier consents have been received > ASX has decided to admit BWP Property Group to official list of ASX, subject to the satisfaction of conditions > It is expected these conditions will be satisfied by 30 July 2025 > The remaining conditions are:
Slide 8: Managing Director's presentation
Managing Director’s For personal use only presentation Mark Scatena Howarth Managing Director BWP Management Limited
Slide 9: Proposed Transaction – three key components
Proposed Transaction – three key components Board recommended transaction, aligned to BWP’s strategic pillars of portfolio optimisation and profitable growth, with significant benefits to Unitholders For personal use only On 27 June 2025, BWP Management Limited (BWPM) as responsible entity for BWP T
Slide 10: Internalisation
1 Internalisation Creating an independent platform for growth For personal use only Current corporate structure (prior to Proposed Transaction) > BWP to pay $142.6m to Wesfarmers (the Internalisation Purchase Price) to internalise the management functions of Other BWPM, reflecting a multiple of 10.6
Slide 11: Lease Reset and Extension
2 Lease Reset and Extension Material WALE extension secures the Bunnings tenant covenant and drives valuation uplift For personal use only > 62 Bunnings Leases are to be reset and extended, with: – leases to be materially extended, increasing BWP’s 62 leases, reflecting all ongoing leases between po
Slide 12: Capital Expenditure Commitments
3 Capital Expenditure Commitments Securing future growth and ensuring portfolio quality For personal use only > Store expansion capital expenditure – BWP and Bunnings have agreed to undertake store upgrades at five Bunnings sites Store expansion capital expenditure – Works to commence within three y
Slide 13: Governance post transaction
Governance post transaction Enhanced governance with Related Party Governance Framework to govern Future Related Party Dealings, enhanced disclosure, and introduction of AGMs For personal use only Governance Framework and Reporting Accountability and Investor Rights > BWP’s Related Party Governance
Slide 14: Proposed Transaction – benefits for BWP unitholders
Proposed Transaction – benefits for BWP unitholders The Proposed Transaction aligns with BWP’s objective of providing Unitholders with a secure and growing For personal use only income stream and capital growth through selective acquisitions and development opportunities Income and covenant certaint
Slide 15: Formal Business
Formal Business For personal use only Tony Howarth Non-Executive Chairman BWP Management Limited
Slide 16: Proposed Transaction approval process
Proposed Transaction approval process Resolutions will be put to BWP unitholders to approve the transaction For personal use only Proposal Resolutions upon which BWP unitholders will vote Implementation Deed – Executed with Wesfarmers with three RESOLUTION 1 - GENERAL APPROVAL OF PROPOSAL AND elemen
Slide 17: Resolution
Resolution 1 For personal use only > Resolution 1 - General approval of Proposed Transaction and related party arrangements > To consider, and if thought fit, pass the following resolution as an ordinary resolution: That the Proposed Transaction be approved and for the purposes of Listing Rule 10.1
Slide 18: Resolution
Resolution 2 For personal use only > Resolution 2 - Approval of employee incentive plan > To consider, and if thought fit, pass the following resolution as an ordinary resolution: That, for the purposes of Listing Rule 7.2 (Exception 13(b)) and for all other purposes, approval be given for BWPM (as
Slide 19: Resolution
Resolution 3 For personal use only > Resolution 3 - Amendments to existing BWP Trust constitution > To consider, and if thought fit, pass the following resolution as a special resolution: That pursuant to section 601GC(1)(a) of the Corporations Act, the Existing BWP Trust Constitution be amended as
Slide 20: Questions
Questions For personal use only Pakenham (VIC) 2 0 E X T RAORDIN ARY G E N E RAL M E E T I NG
Slide 21: Proxy voting results
Proxy voting results For personal use only Vote type Resolution 1 Resolution 2 Resolution 3 % of eligible % of eligible % of eligible Number of votes Number of votes Number of votes votes cast votes cast votes cast For 232,642,591 97.72 383,117,321 96.44 392,201,710 98.64 Against 1,383,987 0.58 9,97
Slide 22: Voting procedures
Voting procedures For personal use only 1 Voting • All resolutions will now go to a poll • On a poll, each unitholder has one vote for each Unit they hold in the BWP Trust • The persons entitled to vote on the poll are all unitholders, representatives and attorneys of unitholders, and proxyholders w
Slide 23: Thank you
For personal use only Thank you