ABACUS STORAGE KING — Capital/Financing Update 2025

May 12, 2025

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ASX RELEASE

13 MAY 2025

PRELIMINARY PORTFOLIO VALUATION UPDATE

Further to the announcement on 16 April 2025, Abacus Storage King (ASX:ASK) (‘ASK’) has undertaken independent external valuations of 100% of its property portfolio as at 31 March 2025. In accordance with ASK’s accounting policy[1] and in line with prior practice, the properties have been valued on a standalone basis.

The preliminary draft valuations have resulted in a portfolio value uplift of A$165.7 million[2] or 5.5%, driven predominantly by income growth from improved operating performance, occupancy, lease up and recently completed developments and expansions. The weighted average cap rate for the portfolio has firmed 7 basis points to 5.49%.

The unaudited valuations are expected to increase ASK’s pro forma NTA by circa $0.13 per security. The valuations are subject to finalisation and audit. The final valuations will be available as part of the FY25 results to be released on 14 August 2025.

A summary of ASK’s portfolio as at 31 March 2025 is presented below.

INVESTMENT	31 MAR 25	31 MAR 25	31 DEC 24	CAP RATE	VALUATION
PROPERTIES	VALUATION	WACR3	WACR3	CHANGE	CHANGE2
ASK Portfolio	$3,205.8m	5.49%	5.56%	(7 bps)	$165.7m

END

Authorised for release by the Board of ASK

INVESTOR ENQUIRIES MEDIA ENQUIRIES Cynthia Rouse Ben Wilson Executive General Manager GRA Cosway Investor Relations and Corporate Communications +61 407 966 083 +61 2 9253 8600

1 ASK’s accounting policy is disclosed in the FY24 Annual Report.

2 Assumes an AUD/NZD conversion rate of $1.1004 as at 31 March 2025.

3 Weighted average cap rate.

Abacus Storage King – Level 13, 77 Castlereagh Street, Sydney NSW 2000 AUSTRALIA +61 2 9253 8600 Abacus Storage Funds Management Limited ACN 109 324 834 ASFL 277357 as Responsible Entity of Abacus Storage Property Trust ARSN 111629 559 | Abacus Storage Operations Limited ACN 112 457 075.

abacusgroup.com.au