Us Masters Residential Property Fund · ASX:URF
Us Masters Residential Property Fund — Corporate Update (September 2025)
13 slides from Us Masters Residential Property Fund's corporate update, Sep 10, 2025
Slide 1: Webinar Update
30 June 2025 Webinar Update 10 September 2025
Slide 2: Disclaimer
Disclaimer This Webinar Presentation Update (Update) has been prepared and authorised for release by US Masters Responsible Entity Limited (ACN 672 783 345 | AFSL 553 794) (Responsible Entity) as the Responsible Entity of the stapled group, comprising US Masters Residential Property Fund (ARSN 150 2
Slide 3: Half Year Update
Half Year Update • Sales momentum – 86 properties sold in the first half for US$119m, including 47 sales worth US$71m in Q2. • Strong pipeline – US$176m in sales pipeline as of 30 June, keeping the Group on track to meet the US$200–225m full-year sales target. • Portfolio valuation – Full portfolio
Slide 4: Asset Sales Program
Asset Sales Program • During the half year, the Group closed on the sale of 86 properties for US$119m in, including 47 sales representing US$71m in Q2 2025. • As of the end of the half, the Group had US$176m in the sales pipeline. US$61m of this was under contract, US$50m on the market, US$64m in th
Slide 5: Portfolio Valuation
Portfolio Valuation • Portfolio appraisal as of 30 June 2025 recorded a US$9.2m (-2.84%) decrement. • New York Premium result was down 4.4% (-US$7.4m); NJ Workforce down 1.2% (-US$1.4m); NJ Premium down 1.1% (-US$0.4m). • The half-year appraisal process saw all homes in the portfolio appraised. The
Slide 6: Capital Management
Capital Management • US$41m debt repaid in Q2, taking the HY25 total repayment to US$72m • GA Facility balance US$151m as of 30 June • Continued focus on buybacks, distributions, and tax-efficient capital return Global Atlantic Term Loan: 30 June 2025 Source: US REIT. 6
Slide 7: Capital Management
Capital Management • Amendment to the Tangible Net Worth covenant removed restrictions on moving funds back to Australia, allowing the Group to repatriate over US$51 million in 2025 to date. • Including the 10-cent distribution declared on 3 July 2025 (payment made on 1 August 2025), distributions t
Slide 8: Capital Management
Capital Management Source: US REIT. As at 30 June 2025. 8
Slide 9: Net Operating Income
Net Operating Income The Fund’s trailing 1-4 family Net Operating Income (NOI) to 30 June 2025 was US$4.9 million, an 8% increase from the comparable period in 2024. Source: US REIT. Notes: Figures may not sum due to rounding. Note: “Same-home” assets by segment will not 9 match the total portfolio
Slide 10: General and Administrative expenses ($A)
General and Administrative expenses ($A) Source: US REIT. AUD/USD average rate of 0.6597 and 0.6345 for 2024 and HY1 2025 respectively. 10 Source: US REIT. Figures may not sum due to rounding.
Slide 11: Funds from Operations (FFO)
Funds from Operations (FFO) Excluding disposal costs and non-recurring items, the FFO loss for the half year ended 30 June 2025 was A$4.6 million. Source: US REIT. Excludes Convertible Preference Unit (URFPA) distributions in 2022 as they are equity distributions. AUD/USD average rate of 0.6947, 0.6
Slide 12: Q&A
Q&A
Slide 13: For further information
For further information Investor Relations URFInvestorRelations@usmrpf.com 13
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