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CHARTER HALL GROUP — AGM Information 2025
Nov 19, 2025
64645_rns_2025-11-19_531dc12d-0451-4831-bb14-c6887f8b0d2e.pdf
AGM Information
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Charter Hall Group 2025 Annual General Meeting
ASX:CHC
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Charter Hall Group 2025 Full Year Results
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Agenda Agenda
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Chair’s Address: Stephen Conry AM
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Managing Director & Group CEO’s Address: David Harrison
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Questions
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Formal Business
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Questions
Woodstock Avenue Industrial Centre, Glendenning (CPIF)
Acknowledgement of Country
Charter Hall acknowledges the Traditional Custodians of the lands on which we work and gather. We pay our respects to Elders past and present and recognise their continued care and contribution to Country.
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Front cover: Ascent Logistics Centre, Alexandria, NSW (CLP)
Charter Hall Group 2025 Annual General Meeting
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Chair’s Address: Stephen Conry AM
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555 Collins Street, Melbourne (CPOF)
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Charter Hall Group 2025 Full Year Results
Chair’s Address
Board of Directors
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From left:
Greg Paramor AO Independent Non-Executive Director Karen Moses OAM Independent Non-Executive Director Karen Penrose Independent Non-Executive Director Stephen Conry AM Chair and Independent Non-Executive Director
David Harrison Managing Director & Group CEO David Ross Independent Non-Executive Director Jacqueline Chow Independent Non-Executive Director
Charter Hall Group 2025 Annual General Meeting
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Chair’s Address
Operating earnings growth
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Doubling of net equity inflows driving fund creation underpins FM earnings growth
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Cumulative retained earnings of $1.3bn since FY15 funding organic growth of the balance sheet coinvestment PI & DI portfolio, together driving earnings growth
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FY25 OEPS of 81.4cps and DPS of 47.8cps
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Distribution growth of 10.4% p.a. from FY15 to FY25, inclusive of gross up for franking credits
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FY25 Distribution yield of 8.2%[4] (grossed up for franking credits)
Operating earnings and distributions growth
DPS (cash paid) DPS (grossed up) OEPS (post-tax)
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115.6cps
2
93.3cps 95.0cps
81.4cps
75.8cps
2
70.2cps
3
69.3cps 61.0cps 65.7cps
58.2cps
37.7cps 47.4cps 43.4cps 44.4cps 47.6cps 50.7cps 45.1cps 47.8cps 50.7cps 2
40.0cps 42.5cps
35.9cps 36.9cps 37.9cps 40.1cps
35.7cps
30.4cps 33.7cps
31.8cps
30.0cps
26.9cps
FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26
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10-year OEPS CAGR from the period 1 July 2016 to earnings guidance as at 30 June 2026
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Based on FY26 earnings guidance of approximately 95.0cps and DPS growth of 6% on FY25. Assumes 90% of FY26 distribution is fully franked dividends 3. Excludes capital reallocation non-cash special dividend which increased franking credits to security holders by a further 25.7cps
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Based on 30 June 2024 close price of $11.18 and includes cash distribution plus franking credits on ordinary dividends (17.9cps) and special dividend (25.7cps)
Charter Hall Group 2025 Annual General Meeting
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Chair’s Address
Sustainability initiatives
Our approach
– Platform-wide
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Harness our scale to drive consistent, impactful sustainability outcomes
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Integrated asset planning Targeted enhancements that improve operational efficiency and deliver highperforming buildings
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Active partnership Deliver long-term returns by working with customers to implement cost-effective, clean energy solutions
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Environment
Environment
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Net Zero
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Achieved 77% reduction in net Scope 1 and Scope 2 emissions[1] driven by energy efficiency, electrification, renewable electricity and residual emissions compensated by nature-based carbon offsets (9%)
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From 1 July 2025[2] our whole platform operates as Net Zero through existing onsite solar and renewable electricity contracts
Clean energy
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86MW of solar installed to date, an uplift of 8% since FY24 of which 80% supplied directly to tenants
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Additional 5.8MW is planned or committed[3] over the next 18 months
Circular economy
- 48% diversion of waste from landfill across our Office and Shopping Centre Retail portfolios where we manage waste, an uplift of 4% since FY24
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Social
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Governance
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Natural disaster relief and recovery
ESG leadership
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$1m invested to date with Red Cross and Recognised as peer group leader across Foundation for Rural & Regional Renewal to three funds, with 18 of 27 participating funds support Australian communities impacted by in the top 20% of the benchmark natural disaster and hardship, enabling - All listed entities[4] achieved ‘A’ ranking under 260 volunteer placements and GRESB Public Disclosure
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39 community grants
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Achieved ‘AA’ MSCI rating and ‘Negligible Risk’ under Sustainalytics
Community partnerships
Sustainable finance
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Secured $8.1bn in sustainable finance, leveraging approach to interdependent ratings
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Achieved >2,900 hours in community volunteering, supporting social enterprises in the communities we operate
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Created 130 employment outcomes in the year for vulnerable young Australians via state-based employment partners
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8.9m sqm with Green Star Performance rating and >1.4m sqm of assets with 5 Star or greater NABERS Energy rating
First Nations
Responsible supply chain
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Selected Bandu Enterprises as NSW Community Investment Partner to support employment pathways
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Actively mitigated modern slavery risk in our operations and supply chain
- Updated training for all employees
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Progressed our Innovate RAP commitments, focused on economic empowerment through our value chain
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Knowledge sharing through industry collaboration
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Our Net Zero target applies to Scope 1 and Scope 2 emissions against our FY17 baseline for existing assets that fall under the operational control of responsible entities for which Charter Hall Limited is the controlling corporation. Including LGCs from installed solar returned to Shopping Centre Retail. 2. LGC and Offsets secured and will be retired to compensate for all Scope 1 and Scope 2 emissions from Shopping Centre assets as at 1 July 2025 3. Includes solar capacity agreed by all parties 4. Charter Hall’s listed entities are ASX:CHC, CQR, CLW, and CQE
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address: David Harrison
2
Glebe Hill Village, Howrah (CQR)
Charter Hall Group 2025 Full Year Results
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Managing Director & Group CEO’s Address
CHC’s Total Securityholder Return (TSR) has significantly outperformed the A-REIT index and peers
Since listing in 2005, Charter Hall’s strong performance has cemented its position as a market leading real estate asset manager, delivering outperformance for fund and partnership investors providing multiple strategy choices for its clients across multiple equity source segments
Source: IRESS, and FactSet.
- Total return calculated on a compound annual growth rate (CAGR) basis (assuming distributions are re-invested) from CHC’s IPO on 10 June 2005 to 8 August 2025; Domestic peers shown includes current ASX 200 A-REIT constituents already listed at the time of CHC’s IPO. CHC’s total return has been adjusted to reflect the issue price at IPO (i.e., includes the initial and final instalment)
Annualised TSR over the last 20 years since CHC listing (% p.a.)[1]
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CHC has achieved the greatest annualised and
cumulative TSR out of major Australian peers and indexes
15.2% 1.9x 2.7x
9.6%
8.1%
7.9%
6.8%
5.7% 5.6% 5.5%
5.0%
3.6% 3.5%
1.7%
Charter Hall Peer 1 XJOAI XJO Peer 2 Peer 3 Peer 4 XPJAI XPJ Peer 5 Peer 6 Peer 7 Peer 8 Peer 9
ASX200 IndexASX 200 ASX 20ASX2 0 0 A- A-REIT
Accumulation Accumulation REIT Index
Index Index
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Cumulative TSR (%)[1]
1,638% 385% 202%
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address
Group highlights FY25[1]
Investment Capacity
Group Returns Property Investments Funds Management Investment Capacity $385 million $2.7bn $84.3bn $5.9bn Operating earnings Co-investment portfolio Group FUM[4] Group investment capacity[2] Balance sheet 81.4cps 7.8% $6.1bn $5.26 OEPS Property Investment EBITDA Gross property transactions NTA per security growth (pcp) 20.8% 55% +14 6.0% Return on Contributed PI & DI EBITDA share of Onboarded new wholesale Balance sheet gearing Equity[3] Group EBITDA investor clients, plus additional equity flows from 41 existing wholesale investors
FY26 Earnings Guidance
EPS (+16.7%) 81.4cps ↑ 95.0cps FY25 delivered FY26 guidance
FY26 Distribution Guidance
DPS (+6.0%) ↑ 47.8cps 50.7cps FY25 delivered FY26 guidance Pro-Forma Group FUM[[4,5]] $87.0bn Pro-forma FUM based on 8 August 2025 ASX announcements
Pro-Forma Group FUM[[4,5]]
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Figures and statistics throughout this presentation are for the 12 months to 30 June 2025 unless otherwise stated
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Investment capacity calculated as cash plus undrawn debt facilities for CHC and the funds management platform. At 30 June 2025, platform cash was $0.8bn. Excludes committed and unallotted equity
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Return on contributed equity is calculated as total operating earnings post-tax per security divided by the opening contributed equity per security of $3.91 for the 12 months to 30 June 2025
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Includes Paradice Investment Management (PIM), with $17.5bn of FUM
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Updated for Challenger mandate and CCRF launch as outlined in the ASX announcement on 8 August 2025
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address
Equity inflows
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Diverse sources of equity across Wholesale, Listed and Direct
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Wholesale flows driving 93.4% of new equity inflows across both partnerships and pooled funds
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Strong trajectory of gross inflows over 3 years to FY26 YTD
Privatisation of ASX:HPI
$ 1 1.3bn
CPIF gross equity raised
$ 1.3bn
1.5x year-on-year net equity inflows already achieved in FY26 to date
| ($m) FY23 FY24 FY25 |
FY26 YTD (to 21 Aug 2025) |
|---|---|
| Wholesale pooled funds 817 305 2,054 |
958 |
| Wholesale partnerships & mandates 1,432 1,140 1,156 |
2,202 |
| Listed funds 9 11 3 |
- |
| Direct funds 542 148 223 |
29 |
| Gross equity inflows 2,801 1,604 3,436 |
3,189 |
| Net equity inflows 1,476 991 2,012 |
3,029 |
CCRF gross equity raised
$ 1.75bn
- Reflects HPI portfolio GAV
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address
Deep, trusted cross sector relationships
Transacted with 10 of the top 20 tenant customers in FY25, including new top 20 entrant QVC / AVC from HPI take private
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Our top 20 tenants represent 55% of property platform income
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22% of platform leases are NNN
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22% of platform income with CPIlinked
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70% multi-lease tenants
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25% cross-sector tenants across more than 4,500 leases
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Two new top 20 entrants - QVC/ AVC on HPI transaction with ~112,000 sqm leased and CEVA Logistics from active leasing with 10ha site leased in Sydney
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~103,000 sqm of development prelease activity, including ~92,000 sqm of Industrial pre-lease with supermarket anchor tenants
Top 20 platform tenants by net income
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17.4%
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Office
Industrial & Logistics
Convenience Net Lease Retail
Convenience Shopping Centre Retail
Social Infrastructure
New Top 20 Entrant
5.2%
4.8%
4.3%
3.6% 3.4%
2.1% 2.1% 1.9% 1.8% 1.6%
1.1% 1.0% 0.8% 0.8% 0.7% 0.6% 0.6% 0.6% 0.6%
1
FY25
Activities
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- Includes federal, state and local governments
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address
Industrial & Logistics
- Modern, high-occupancy portfolio of 7.2m sqm lettable area
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Hello Fresh, Light Horse Logistics Hub (CPIF)
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Coles, MidWest Logistics Hub, Truganina (CPIF)
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Translink Avenue, Launceston (CPIF & DIF4)
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Strong leasing momentum with 559,215 sqm -
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leased across 47 transactions 80% repeat tenant customers and 20% new customers
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Leases renewed achieved rents at 21% above previous passing rents in FY25
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CPIF gross equity raising in FY25 $1.3bn
Funds Under Management
$ 25.9bn
98.9% occupancy versus national average of 97.2%[1]
WARR of
3.0%
with 33% of leases having a market review over the next 5 years
8.8 yrs WALE across our Industrial & Logistics portfolio
8.5 yrs WALE achieved on all lease transactions nationally
bn $6.9
36.5%
like-for-like valuation growth since Development pipeline FY20
- Source: CBRE and Charter Hall Research All data as at 30 June 2025
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address
Office
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Modern, high-occupancy portfolio of 1.9m sqm lettable area. Strong leasing momentum with 227,642 sqm leased[1] across 222 transactions. Effective rents outpacing face rents
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65% deals above 1,000sqm to Government or Institutional tenant customers
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GPO Tower, 2-10 Franklin Street, Adelaide (CPOF & CHWPT)
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10 Shelley Street, Sydney (CPOF & DOF)
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480 Swan Street, Melbourne (CPOF)
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95% of tenant customers remained in the same or an expanded footprint
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Continued positive tenant customer advocacy with strong NPS score
Funds Under Management
$ 23.9bn
95.7% occupancy versus national average of 84.0%[2]
3.6% WARR on leasing deals
6.3 yrs WALE across Office portfolio 5
6.9 yrs WALE achieved on all lease transactions nationally
5 $6.1bn New vintage Office fund products Development pipeline on offer / incubating
- Includes Heads of Agreement 2. Source: JLL and Charter Hall Research All data as at 30 June 2025
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address
Convenience Retail
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High-occupancy portfolio of 98.9% with 1.4m sqm lettable area
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Strong leasing momentum with 44,020 sqm leased across 297 transactions
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Charter Hall Convenience Retail Fund (CCRF) is a newly established wholesale pooled fund which has raised $1.75bn of equity commitments
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Bunnings, Oxenford (CCRF)
Ampol, Dee Why (CQR)
Convenience Shopping Centre Retail
$4.3bn Funds Under Management
9.3 yrs[1]
WALE with portfolio occupancy of 97.4%
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Kings Langsley, Kings Langley (CQR)
1
CQR ranked #1 preferred landlord[2] amongst peers for four years +
Funds Under Management
Convenience Net Lease Retail
$ 12.4bn
$8.1bn Funds Under Management
10.4 yrs
$1.3bn
WALE with portfolio occupancy of Gross transactions 100%. 86% of portfolio net income is CPI-linked
- Anchor tenant WALE (major supermarket shopping centre retail) 2. As ranked by Charter Hall retail tenants – Annual CentreSAT survey through Monash Business School’s ACRS Research unit
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address
Social Infrastructure
- 100% occupancy
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Only About Children, Balwyn North (CQE)
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Clinipath Pathology, Osborne Park (CQE)
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Geoscience Australia Facility, Canberra (CLW, CQE & DIF4)
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Properties for essential services with low correlation to economic cycle
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Strong population growth increasing demand for all segments of the Social Infrastructure sector
Funds Under Management
$ 3.8bn
100% High portfolio occupancy
6.7% Initial yield achieved on accretive acquisitions[1,2]
11.6 yrs Only 3.5% of lease income expiring within the next 5 years[1] 30
Properties sold for 8.3% premium to book value at 4.4% yield[1]
10.5% Market rental uplift achieved on 69 market rent reviews[1]
4.3% WARR[1,3]
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Relates to CQE only 2. Includes acquisitions of 22.5% asset interest in Western Sydney University campus ($68.4m) and a further asset interest in Geosciences facility which both settled in July 2025
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Weighted average rent review on like-for-like properties in FY25
Charter Hall Group 2025 Annual General Meeting
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Managing Director & Group CEO’s Address
FY26 operating earnings guidance
Based on no material change in current market conditions, FY26 guidance for post-tax operating earnings per security of approximately 95.0 cents, representing 16.7% over FY25, without performance fee expectations.
FY26 distribution per security guidance is for 6% growth over FY25, continuing 15 years of 6%pa DPS growth.
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Chifley North
1, 10 and 12 Chifley South (under
383 Kent Street Shelley Street 9 Castlereagh construction)
Street
No.1 Martin
Place
2 Market Street
52 Martin Place
167 Macquarie
Street
2 Park Street
201 Elizabeth Street (development)
231 Elizabeth Street Sydney, NSW
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Charter Hall Group 2025 Annual General Meeting
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Questions
Powerlink, TradeCoast Logistics Hub, Pinkenba (CPIF)
3 Charter Hall Group 2025 Full Year Results
17
Formal Business
4
Artist’s impression: Chifley Square, South Tower, Sydney (CTT)
18
Charter Hall Group 2025 Full Year Results
Formal Business
Item 1 – Annual Report
To receive and consider the Annual Report, consisting of the Financial Report and Directors’ Report, and Auditor’s Report for the year ended 30 June 2025.
Note: There is no requirement for Securityholders to approve these reports.
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 2 - Re-election of Director – Greg Paramor AO
To consider and, if thought fit, pass the following resolution as an ordinary resolution of CHL:
“That, Mr Greg Paramor AO, is re-elected as a Director of CHL.”
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Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 2 – Proxies – Re-election of Director – Greg Paramor AO
| FOR: | 96.58% |
|---|---|
| OPEN: | 0.08% |
| AGAINST: | 3.34% |
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 3 – Adoption of Remuneration Report
To consider and, if thought fit, pass the following ordinary resolution of CHL:
“That the Remuneration Report included in the Annual Report for the year ended 30 June 2025 be adopted.” Note: The vote on this resolution is advisory only and does not bind Charter Hall Group or the Directors of CHL.
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 3 – Proxies – Adoption of Remuneration Report
| FOR: | 87.44% |
|---|---|
| OPEN: | 0.08% |
| AGAINST: | 12.48% |
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 4 – Issue of service rights to Mr David Harrison - Performance Rights and Options Plan (Mandatorily deferred portion of Short-Term Incentive (STI) for FY25)
To consider and, if thought fit, pass the following ordinary resolution of CHL and CHPT:
“That approval is given for all purposes under the Corporations Act and the Listing Rules (in particular, Listing Rule 10.14) for the issue of 49,509 service rights to Mr David Harrison as described in the Explanatory Memorandum.”
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 4 – Proxies – Issue of service rights to Mr David Harrison - Performance Rights and Options Plan (Mandatorily deferred portion of Short-Term Incentive (STI) for FY25)
| FOR: | 99.35% |
|---|---|
| OPEN: | 0.13% |
| AGAINST: | 0.51% |
Note: Figures may not sum up to 100% due to rounding.
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 5 - Issue of performance rights to Mr David Harrison – Performance Rights and Options Plan (Long-Term Incentive (LTI) for FY26)
To consider and, if thought fit, pass the following ordinary resolution of CHL and CHPT:
“That approval is given for all purposes under the Corporations Act and the Listing Rules (in particular, Listing Rule 10.14) for the issue of 155,844 performance rights to Mr David Harrison as described in the Explanatory Memorandum.”
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 5 – Proxies – Issues of performance rights to Mr David Harrison – Performance Rights and Options Plan (Long-Term Incentive (LTI) for FY26)
| FOR: | 98.78% |
|---|---|
| OPEN: | 0.08% |
| AGAINST: | 1.14% |
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 6 – Appointment of External Auditor
To consider and, if thought fit, pass the following ordinary resolution of CHL and CHPT:
“Subject to ASIC consent to the current external auditor, PwC, resigning and approval at the AGM, to appoint Ernst & Young (EY) as external auditor with effect from the latter of (1) the date of receipt of ASIC’s consent to the resignation of PwC, (2) the date fixed by ASIC, and (3) the date of the AGM.”
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 6 – Proxies – Appointment of External Auditor
| FOR: | 99.44% |
|---|---|
| OPEN: | 0.08% |
| AGAINST: | 0.48% |
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 7 – Capital Reallocation
To consider and, if thought fit, pass the following as an ordinary resolution of CHL:
“That, in accordance with the Corporations Act 2001 (Cth), CHL’s Constitution and for all other purposes:
a. at any time or times on or before 30 June 2026, CHL is authorised to reduce the share capital of CHL (the Capital Reduction Amount) and/or make a special dividend by a total aggregate amount of up to $200,000,000, such reduction(s) or dividends to be effected and satisfied by CHL paying CHL Shareholders who are registered as holders of CHL Shares on the relevant Entitlement Date up to an aggregate of 42.28 cents per ordinary share held by the CHL Shareholder, and
b. in accordance with clause 72B of CHL’s Constitution, any Capital Reduction Amount or special dividend payable to CHL Shareholders on or before 30 June 2026, up to a maximum combined aggregate amount of $200,000,000 in the combination determined by the Directors of CHL ( Attached Securities Capital Reallocation Amount ) is to be applied by CHL as agent for and on behalf of the CHL Shareholders by paying that amount at the direction of each CHL Shareholder to CHFML as responsible entity of CHPT as an additional capital payment in respect of the CHPT Unit already issued to which that CHL Share is stapled.”
Charter Hall Group 2025 Annual General Meeting
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Formal Business
Item 7 – Proxies – Capital Reallocation
| FOR: | 99.90% |
|---|---|
| OPEN: | 0.08% |
| AGAINST: | 0.01% |
Note: Figures may not sum up to 100% due to rounding.
Charter Hall Group 2025 Annual General Meeting
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Questions
5
60 King Williams Street, Adelaide (CPOF) 32
Charter Hall Group 2025 Full Year Results
Meeting closed
Coles, MidWest Logistics Hub, Truganina (CPIF)
6 Charter Hall Group 2025 Full Year Results
33
Further information
Investor Relations
Tel 1300 365 585 (within Australia) +61 2 8651 9000 (outside Australia)
Email [email protected]
Presentation authorised by the Board
charterhall.com.au/chc
IMPORTANT NOTICE & DISCLAIMER
This presentation has been prepared by Charter Hall Funds Management Limited ACN 082 991 786 (together, with its related bodies corporate, the Charter Hall Group).
This presentation has been prepared without reference to your particular investment objectives, financial situation or needs and does not purport to contain all the information that a prospective investor may require in evaluating a possible investment, nor does it contain all the information which would be required in a product disclosure statement prepared in accordance with the requirements of the Corporations Act 2001 (Commonwealth) (Corporations Act). Prospective investors should conduct their own independent review, investigations and analysis of the information contained in or referred to in this presentation and the further due diligence information provided.
Statements in this presentation are made only as of the date of this presentation, unless otherwise stated. Charter Hall Group is not responsible for providing updated information to any prospective investors. Any forecast or other forward looking statement contained in this presentation may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material.
In making an investment decision, prospective investors must rely on their own examination of the Charter Hall Group, and any other information they consider relevant. All information is provided as indicative only.
None of Charter Hall Group, its officers, employees, advisers or securityholders (together, the Beneficiaries) guarantee or make any representation or warranty as to, or take responsibility for, the accuracy, reliability or completeness of the information contained in this presentation. Nothing contained in this presentation nor any other related information made available to prospective investors is, or shall be relied on, as a promise, representation, warranty or guarantee, whether as to the past, present or the future. To the extent permitted by law, the Beneficiaries disclaim all liability that may otherwise arise due to any information contained in this presentation being inaccurate, or due to information being omitted from this document, whether by way of negligence or otherwise. Neither the Beneficiaries nor any other person guarantees the performance of an investment with or managed by Charter Hall Group.
All information contained herein is current as at 30 June 2025 unless otherwise stated. All references to dollars ($) are to Australian dollars, unless otherwise stated.
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Charter Hall Group 2025 Annual General Meeting