Homeco Daily Needs Reit · ASX:HDN
Homeco Daily Needs Reit — H1 2026 Earnings Presentation
33 slides from Homeco Daily Needs Reit's earnings presentation, Feb 11, 2026
Slide 1: 1H FY26 Results Presentation
HomeCo Daily Needs REIT 1H FY26 Results Presentation 11 February 2026
Slide 2: Agenda
Agenda 01 02 03 04 05 06 Results Portfolio Growth Financial Outlook & Supplementary Overview Update Opportunities Results Guidance Information Paul Doherty Sid Sharma Phil Dooley HDN Fund Manager HMC Capital Managing Director, HMC Capital Chief Financial Officer, Real Estate & HDN CEO Real Estate 2
Slide 3: Acknowledgement of Country
Acknowledgement of Country HomeCo. Daily Needs REIT acknowledges the Traditional Custodians of Country throughout Australia and celebrates their diverse culture and connections to land, sea and community. We pay our respect to their Elders past and present and extended that respect to all Aboriginal
Slide 4: Results Overview
01 Results Overview 4 Braybrook (VIC)
Slide 5: 1H FY26 highlights & outlook
1H FY26 highlights & outlook Consistent earnings growth underpinned by operational execution and balance sheet discipline. HDN reaffirms FY26 guidance 1H FY26 Performance Operations FY26 Outlook 4.4 cents 4.3 cents +4.6% +6.2% 9.0 cents 8.6 cents FFO per unit DPU NOI growth Market leading FFO per un
Slide 6: Investment strategy
Investment strategy Creating daily needs community hubs supporting the growth strategies of Australia’s leading retailers Model portfolio Strong fundamental Accretive Last mile real estate construction investments development pipeline infrastructure Portfolio Target $440/sqm $650m+ ~12.7m people ~50
Slide 7: Portfolio Update
02 Portfolio Update 7 Upper Coomera (QLD)
Slide 8: Property portfolio summary
Property portfolio summary $5.1bn metropolitan east coast focused portfolio HDN has a leading strategic network of sites located across metropolitan growth corridors 46 19% Properties1 QLD: $0.9bn Properties1 10 Total portfolio NT Greater Brisbane & Gold 16% Portfolio value $5.1bn Coast Tenants ~1,3
Slide 9: Highly defensive and diversified income streams
Highly defensive and diversified income streams Diversified tenant base of Australia’s leading retailers Top 10 tenants – by gross income Portfolio subsectors – gross income split and key tenants1 8.7% 4.4% 40% Neighbourhood 4.0% 3.5% 3.1% 40% Large format 2.7% Retail 2.3% 2.0% 1.6% ~34% 20% Health
Slide 10: Property portfolio summary
Property portfolio summary $5.1bn portfolio diversified by subsector, tenant and geography Key portfolio metrics Tenant mix Rent composition Portfolio value $5,095m Fund Supermarket 0% Health & Wellness 12% Landbank (sqm) 2.3m sqm 20% Site coverage 36% CPI WACR1 5.51% Large Format 17% Retail WALE2 4
Slide 11: Property valuations
Property valuations Income growth remains the driver of valuation gains over the last 6 months $143m3 valuation uplift $5,095m Independent Attractive valuations portfolio $92m $51m 61% 5.51% of portfolio independently valued; WACR2 6bps of tightening vs Jun-25 $168m of disposals 1.6% > book value $7
Slide 12: Peer analysis
Peer analysis HDN asserts position as consistent market leader in operational and growth metrics Leasing Spread Comparison 1 LFL NOI Growth1 FY22 FY23 FY24 FY25 1H'26 FY22 FY23 FY24 FY25 1H'26 5.1% 6.0% 6.0% 6.0% 6.2% 5.7% 4.3% 4.2% 4.0% 3.9% 4.0% 4.0% 3.8% 3.7% 3.4% 3.4% 3.4% 3.4% 3.1% 3.1% 3.8% 3.
Slide 13: Sustainability achievements
Sustainability achievements Continuing progress on ESG initiatives that deliver a positive social impact Environment In line with HMC Group, the Real Estate platform is reviewing its sustainability strategy and objectives to align with the wider business evolution. We expect to provide more detail f
Slide 14: Growth Opportunities
TBU - Bronagh 03 Growth Opportunities 14 Belrose (NSW)
Slide 15: Strategic value creation through prudent capital investment
Strategic value creation through prudent capital investment Targeting a >7% ROIC1 and an economic return2 >12% Active Projects FY26 Investments Development Pipeline ~$100m $100m - $120m $650m+ Castle Hill, NSW 1 Warilla Grove, NSW 1 Cranbourne, VIC 1 Williams Landing Leisure & lifestyle and LFR Esti
Slide 16: Warilla Grove
Warilla Grove Warilla repositioning strategy targeting to deliver a ~10% ROIC1 Warilla Grove, NSW — Double supermarket anchored daily needs centre, 15km south of the Wollongong CBD generating ~$100m in annual supermarket sales — A value accretive remix strategy driving ~$1.2m NOI growth and remixing
Slide 17: Completed & active projects
Completed & active projects Tenant demand-led development strategies expected to achieve ~7%+ ROIC1 Tuggerah, NSW Leisure and lifestyle development 1H FY26 leased to leading ASX listed and ~$44m ~11,150qm national retailers Practical CAPEX GLA completion ✓ Practical completion achieved Tuggerah Uppe
Slide 18: Active projects
Active projects Tenant demand-led development strategies expected to achieve ~7%+ ROIC1 Armstrong Creek Town Centre, VIC Woolworths supermarket & 2,200sqm ~$52m 1H FY27 online home delivery hub and specialty ~8,500sqm Estimated Target retail GLA CAPEX completion ✓ Construction commenced Armstrong Cr
Slide 19: Financial Results
04 Financial Results 19 Armstrong Creek (VIC)
Slide 20: Earnings summary
Earnings summary 1H FY26 FFO of 4.4 cents per unit $ million 1H25 1H26 Property NOI 142.2 148.7 – Strong NOI growth of 4.6% driven by positive leasing spreads of 6.2%, weighted average rent reviews of 3.5% and active expense management Distribution from equity-accounted investments 1.3 1.1 – Develop
Slide 21: Balance sheet
Balance sheet Resilient portfolio drives $156m in NTA growth $ million 30 Jun 25 31 Dec 25 Cash and cash equivalents 18.0 25.4 – HDN has a robust balance sheet at Dec-25 with net Assets held for sale 41.5 48.0 assets of $3.2bn Investment properties 4,830.2 5,001.7 – Dec-25 gearing of 35.2% will redu
Slide 22: Capital management
Capital management Pro forma gearing 34.6% $ million 30 Jun 25 31 Dec 25 Debt summary – Post North Lakes settlement (2 Feb-26) Facility limit (bank debt) 1,850.0 1,850.0 – Pro forma gearing 34.6%, at the mid point of the target range Drawn debt1 1,760.1 1,843.5 – Pro forma liquidity of $80m Weighted
Slide 23: Outlook & Guidance
change 05 Outlook & Guidance 23 South Nowra (NSW)
Slide 24: FY26 Outlook and guidance
FY26 Outlook and guidance HDN reaffirms FFO and DPU guidance of 9.0cpu and 8.6cents respectively 9.0 cents 8.6 cents +4.0% ~$100-$120m FY26 FFO/unit FY26 DPU Comparable NOI growth1 FY26 investments FY26 Outlook – Robust top-line revenue growth underpinned by strong operational execution and defensiv
Slide 25: Supplementary Information
06 Supplementary Information 25 Mornington (VIC)
Slide 26: Additional financial information
Additional financial information Statutory profit to FFO reconciliation Portfolio value to balance sheet reconciliation $ million 1H FY25 1H FY26 $ million 31 Dec 25 Property income 178.8 190.4 Portfolio valuation 5,095 Share of (loss)/profit of equity-accounted investees 0.8 5.2 Right of use asset
Slide 27: 1H FY26 leasing
1H FY26 leasing Strong rental reversion & affordable portfolio rents underpin long-term outlook for sustainable and non-cyclical income growth Releasing spreads Incentives HDN continues to generate industry leading releasing spreads underpinned Consistently low incentives driving real rental growth
Slide 28: Investments in HMC Capital's unlisted retail funds
Investments in HMC Capital’s unlisted retail funds Strategic investments in complimentary strategies providing additional development and future acquisition pipeline Last Mile Retail Strategy Greenfield Strategy Fund Strategy Fund Strategy LML - Core plus to value-add transition assets for the purpo
Slide 29: Portfolio summary metrics
Portfolio summary metrics Occupancy WALE Asset State GLA (sqm) Site area (sqm) Site Coverage (%)1 Fair Value ($m) Cap rate (%) (by area)2 (by income)3 Armstrong Creek VIC 12,284 59,065 21% 99% 5.4 129 5.21% Bankstown NSW 17,404 40,240 43% 100% 5.0 101 5.50% Belrose NSW 36,816 44,265 83% 100% 2.9 239
Slide 30: HDN owns strategic last mile infrastructure
HDN owns strategic last mile infrastructure Strategic footprint spanning 2.3 million sqm in Australia’s leading metropolitan markets & growth corridors weighted towards capital cities Greater Melbourne Greater Sydney Greater Brisbane & Gold Coast Murrindindi Woy Woy Coral Sea Sunshine Coast Rosentha
Slide 31: Further Information
Further Information Investors and Analysts Media Paul Doherty Renee Jacob John Frey HMC Capital HMC Capital Corporate communications HDN Fund Manager Head of Investor Relations HMC Capital +61 447 245 435 +61 407 328 092 +61 411 361 361 paul.doherty@hmccapital.com.au renee.jacob@hmccapital.com.au jo
Slide 32: Disclaimer
Disclaimer This presentation (Presentation) has been prepared by HMC Funds Management Limited (ACN 106 078 635, AFSL 237 257) (Responsible Entity) as responsible entity of HomeCo Daily Needs REIT (ARSN 645 086 620). Summary information This Presentation contains summary information about the current
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