CHARTER HALL GROUP — Annual Report 2022

Aug 24, 2022

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Charter Hall Charter Hall Long WALE REIT 2022 Full Year Results Group

Acknowledgement of Country

Charter Hall is proud to work with our customers and communities to invest in and create places on lands across Australia. We pay our respects to the Traditional Owners, their Elders past and present, and value their care and custodianship of these lands.

Coming Together, 2021.

'Coming Together' is an artwork which is reflective of strength, resilience and nurturing partnerships. Frances Belle Parker (Yaegl)

Charter Hall Group 2022 Full YearResults

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Charter Hall GroupCharter Hall Group
2022 Full Year Results2022 Full YearResults
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Agenda

1. Highlights and Strategy

2. Group FundsManagement

3. Property Investment

4. Financial Result

5. Update and Guidance

6. Additional Information

Cover: Southern Cross, Melbourne (CPOF) Left: 1 Shelley Street, Sydney (CPOF)

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Highlights 1 and Strategy

Coles Distribution Centre, Perth (CLW, DIF2 & DIF3)

Charter Hall Group Charter Hall Group 2022 Full Year Results2022 Full Year ResultsResults

Highlights and Strategy

Group highlights[1]

Group Returns

Property Investments

Funds Management

Investment Capacity

Operating earnings Property Investment portfolio Group FUM[5] Group investment capacity[7] $ $ 542.8 million $2.9bn $79.9bn ↑ 52.8% 7.9bn Statutory profit[2] ↑ $509m Property FUM $ 911.1 million $65.6bn ↑ 25.5% or $13.3bn Balance sheet OEPS Total Property Investment return[4] Gross property transactions NTA per security $ $ 115.6cps 23.2[%] 8.5bn 6.26 89.5% ↑ over FY21 ↑ 27.5% Return on Contributed Equity[3] Property Investment yield Funds Management yield[6] Credit rating[8] 31.4[%] 5.6[%] 16.1[%] Baa1 Contributed equity per security of $3.92

1. Figures and statistics throughout this presentation are for the 12 months to 30 June 2022 unless otherwise stated

2. Attributable to stapled securityholders

3. Return on contributed equity is calculated as total operating earnings post-tax per security divided by the opening contributed equity per security for the 12 months to 30 June 2022

4. Total Property Investment (PI) return is calculated as distributions received from Funds plus growth in investment value divided by the opening investment value of the PI portfolio for the 12 months to 30 June 2022. This excludes investments in new vehicles held for less than a year

5. Includes Paradice Investment Management (PIM) Partnership, with $14.3bn of FUM

6. Funds Management (FM) yield is calculated as FM operating earnings post tax per security (includes 50% allocation of net interest) divided by the opening NTA per security for the 12 months to 30 June 2022

7. Investment capacity calculated as cash plus undrawn debt facilities for CHC and the funds management platform. At 30 June 2022, platform cash was $1.3bn. Excludes committed and unallotted equity

8. Charter Hall Group investment grade credit rating assigned by Moody’s

Charter Hall Group 2022 Full Year Results

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Highlights and Strategy

Our Strategic Pillars[1]

We use our expertise to access, deploy, manage and invest equity to create value and generate superior returns for our investor customers

1 year 3 years 5 years	Access Accessing equity from listed, wholesale and retail investors Deploy Creating value through attractive investment opportunities Manage Funds management, asset management, leasing and development services Invest Investing along side our capital partners
	Gross equity allotted $4.7bn Acquisitions $7.0bn Development Capex $2.7bn Group FUM $79.9bn↑$27.6bn Increase in Pl $509m↑21.1% Divestments $1.6bn Property FUM $65.6bn↑$13.3bn Total PI return2 23.2% Net Acquisitions $5.4bn Gross Transactions $8.5bn
	Gross equity allotted $15.1bn Acquisitions $22.2bn Development Capex $5.7bn Property FUM growth $35.2bn($11.7bn p.a.) Increase in Pl $1.1bn↑58.3% Divestments $4.7bn Total PI return 15.6%
	Net Acquisitions $17.5bn
	Gross Transactions $26.9bn
	Gross equity allotted $20.2bn Acquisitions $28.9bn Development Capex $7.5bn Property FUM growth $45.8bn($9.2bn p.a.) Increase in Pl $1.4bn↑88.7% Divestments $6.5bn Total PI return 13.3% Net Acquisitions $22.4bn Gross Transactions $35.4bn

1. Slide refers to Property FUM as PIM partnership occurred part way through FY22

2. Total Property Investment (PI) return is calculated as distributions received from Funds plus growth in investment value divided by the opening investment value of the PI portfolio for the 12 months to 30 June 2022. This excludes investments in new vehicles held for less than a year.

Charter Hall Group 2022 Full Year Results

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Highlights and Strategy

Operating earnings per security growth

Operating earnings per security growth

OEPS (post-tax) cps

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115.6cps
69.3cps
61.0cps
47.4cps
37.7cps
35.9cps
FY17 FY18 FY19 FY20 FY21 FY22
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Distributions per security growth

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DPS (grossed up)1
DPS (cash paid)
47.6cps
44.4cps
43.4cps
40.0cps
36.9cps
40.1cps
37.9cps
35.7cps
33.7cps
31.8cps
30.0cps
FY17 FY18 FY19 FY20 FY21 FY22
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1. DPS (grossed up) reflects cash paid plus franking credits distributed Charter Hall Group 2022 Full Year Results

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Group Funds 2 Management

Light Horse Business Hub, Eastern Creek (CPIF)

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Charter Hall Group Charter Hall Group 2022 Full Year Results2022 Full Year ResultsResults

Group Funds Management

Funds Under Management (FUM) growth Property FUM growth of 25.5% from $52.3bn to $65.6bn

Group FUM growth ($bn)

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Group FUM
$79.9bn
PIM
Partnership
$14.3bn
$2.7bn
$5.3bn
$7.0bn ($1.6bn) $65.6bn
Property FUM
$52.3bn
Property FUM growth of $13.3bn
FY21 Acquisitions Divestments Net Property DevEx 1 FY22
Revaluations
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Property FUM by equity source ($bn)

5-Year Property FUM CAGR

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Wholesale 26.4%
Listed 26.7%
$65.6bn
Retail 30.4%
$10.5bn
$52.3bn
$13.5bn
$8.2bn
$40.5bn
$10.8bn
$6.1bn $41.6bn
$30.4bn
$8.2bn
$33.3bn
$5.0bn
$23.2bn
$19.8bn $2.9bn $6.3bn $26.3bn
$2.8bn $4.4bn
$19.1bn
$4.1bn
$15.9bn
$12.9bn
Jun-17 Jun-18 Jun-19 Jun-20 Jun-21 Jun-22
YoY Growth 17.0% 31.1% 33.2% 29.0% 25.5%
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1. Includes development and maintenance capital expenditures

Charter Hall Group 2022 Full Year Results

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Group Funds Management

Group funds management portfolio Diversification of equity sources and by sector

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Group FUM by equity source Group FUM by sector
Direct (Unlisted) Equity Listed Equities
$11.0bn Wholesale (Unlisted) Equity $14.7bn Industrial & Logistics
13.7% $55.4bn 18.4% $21.2bn
69.4%
26.6%
SC Retail
$4.4bn
Listed Funds
5.6%
$13.5bn
16.9% $79.9bn Social Infrastructure $79.9bn
$3.7bn
4.6%
Long WALE Retail
$9.9bn
12.4%
Office
$26.0bn
32.5%
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Charter Hall Group 2022 Full Year Results

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Group Funds Management

Property funds management portfolio Largest diversified property portfolio in Australia

Property FUM	Portfolio value ($bn)	Lettable area (m sqm)	No. of Properties	Net rent ($m)	WALE (years)	Occupancy (%)	WACR (%)
30 June 2022	65.6	10.8	1,548	2,840	8.6	98.0	4.37
30 June 2021	52.3	9.0	1,388	2,492	9.1	97.7	4.79

Property FUM by equity source

Property FUM by sector

WALE by sector

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Listed Equities
$0.4bn
Direct (Unlisted) Equity
Wholesale (Unlisted) Equity Long WALE Retail 0.6%
$10.5bn
$41.6bn $9.9bn
16.0%
63.4% 15.1% Industrial & Logistics
$21.2bn 14.6
32.4%
Social Infrastructure
$3.7bn 11.5
5.6% 10.9 year 10.7
Anchor WALE
Listed Funds $13.5bn $65.6bn $65.6bn
20.6% 6.1
5.4
SC Retail
Office $4.4bn
$26.0bn 6.8% SC Retail Office Industrial & Long WALE Social
39.6% Logistics Retail Infrastructure
Charter Hall Group
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Charter Hall Group 2022 Full Year Results

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Group Funds Management

Diversified tenant customers

The top 20 tenants are represented by Government, multinationals & listed companies

– The top 20 tenants represent 57% of property platform income

• 23% of platform leases are NNN

• 21% of platform net income is CPI-linked

Top 20 platform tenants by net income

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14.5%
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5.6%
4.5% 4.5% 4.4% 4.3%
3.0%
2.2%
1.8% 1.7% 1.6% 1.5% 1.3% 1.3% 1.1% 0.9% 0.9%
0.7% 0.7% 0.6%
1
Industrial & Logistics Social Infrastructure
Long WALE Retail Shopping Centre Retail
Office
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1. Includes federal, state and local governments

Charter Hall Group 2022 Full Year Results

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Group Funds Management

FY22 property transaction activity

$8.5bn of transaction activity, comprising over 90 transactions with 22 active funds/partnerships

Acquisitions ($bn) Divestments ($bn) Net Transactions ($bn) Gross Transactions ($bn)		Industrial & Logistics 2.5	Long WALE Retail 2.1 (0.1) 2.0 2.1		Office			Social Infrastructure / Other		Shopping Centre Retail Total 0.1 7.0 - (1.6) 0.1 5.4 0.1 8.5
					1.9			0.4
		(0.5)			(0.8)			(0.2)
		2.0			1.1			0.2
		3.0			2.7			0.7

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TAFE Queensland, Robina (CQE)

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Light Horse Business Hub, Sydney (CPIF)

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50 Marcus Clarke Street, Canberra (CHCOT)

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Emergency Command Centre, Adelaide (CQE)

Charter Hall Group 2022 Full Year Results

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Group Funds Management

Development to drive deployment and FUM growth Development pipeline increased by $7.2bn since FY21 to $16.0bn

– 88% of Industrial committed projects are pre-leased

• 71% Office committed projects are pre-leased

Completion value($m)

Completion value($m)
Completions (last 12 months)	Committed projects Uncommitted projects3 Total pipeline4
Industrial & Logistics 685	2,799 3,097 5,897
Long WALE Retail 99	188 - 188
Office1 855	3,012 6,709 9,721
Social Infrastructure 128	73 - 73
Shopping Centre Retail2 25	41 48 89
Total 1,792	6,112 9,855 15,968

1. $2.6bn of uncommitted Office developments have approved DA’s

2. Reflects development spend only and excludes existing centre value

3. Includes potential end value of uncommitted development projects

4. $7.2bn of committed and uncommitted development projects are included in FUM as at 30 June 2022

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Artist impression: 480 Swan Street, Richmond (CHSwan, CPOF)

Charter Hall Group 2022 Full Year Results

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Group Funds Management

Equity inflows[1]

• Diverse sources of equity across Wholesale, Listed and Direct, with all areas contributing during FY22

• Over 45,000 investors across FUM platform

• Over 100 institutional wholesale investors

• Direct platform average monthly inflows have increased to approximately $110 million per month

($m)	FY19	FY20	FY21	FY22
Wholesale pooled funds	1,802	1,272	2,111	1,575
Wholesale partnerships	219	1,298	1,448	1,137
Listed funds	692	1,369	659	646
Direct funds	691	1,136	1,107	1,340
Gross equity inflows	3,404	5,076	5,326	4,698
Net equity inflows	3,287	4,585	4,761	4,039

1. Equity inflows reflects allotted equity only

Charter Hall Group 2022 Full Year Results

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Property
Investment
3
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GPO Exchange, 2-10 Franklin Street, Adelaide (CPOF)

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Charter Hall Group Charter Hall Group
2022 Full Year Results2022 Full Year ResultsResults
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Property Investment

Property Investment portfolio

Property Investment portfolio increased by 21.1% to $2.9bn driven by valuation growth and deployment of retained earnings

			Portfolio	Value	No. of	WALE	Occupancy	WARR	WACR	WADR
			($bn)		Properties	(years)	(%)	(%)	(%)	(%)
30	June	2022	2.9		1,462	8.2	97.3	3.6	4.55	5.8
30	June	2021	2.4		1,322	9.1	97.4	3.1	4.86	6.0

Sector allocation

Geographic allocation

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Listed Equities NZ
SC Retail $234m $62m2.1% Industrial & Logistics $379m TAS WA9% 1%
8.0% ACT 1%
13.0%
2%
Social Infrastructure SA
$213m 4%
7.3%
NSW
40%
$2.9bn Long WALE Retail $633m $2.9bn
21.7%
VIC
23%
Office
$1,398m
47.9%
QLD
19%
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Charter Hall Group 2022 Full Year Results

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Property Investment

Property Investment portfolio movement Investment portfolio 5 year CAGR of 13.8% p.a.

Property Investment portfolio movement

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$153m
$356m
$2,918m
$2,409m
Jun-21 Change in Net Jun-22
valuation investments /
Other
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Property Investment portfolio yield – 5.6%

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10.0%
$2,918m
8.0%
$2,409m
$2,028m
6.0%
$1,844m
$1,706m
$1,527m
4.0%
2.0%
-
Jun-17 Jun-18 Jun-19 Jun-20 Jun-21 Jun-22
Portfolio value $m
PI Yield %
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Charter Hall Group 2022 Full Year Results

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Property Investment

Diversified Property Investment earnings

Property Investment portfolio provides growth and resilience given quality and strong tenant customer composition

– 3.5% fixed reviews with 20% of CHPT net income CPI-linked

• 71% repeat and 32% multi-sector customers across 2,737 leases

• No single asset is more than 5% of portfolio investments

Top 10 tenants by net income[1]

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Property Investment earnings
(by sector)
Listed
Equities Industrial &
SC Retail 2% Logistics
10% 11%
Social Infrastructure
7%
Long WALE
Retail
21%
Office
49%
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17.1%
7.7%
5.1%
3.9% 3.6% 3.5% 3.3% 3.1%
2.7% 2.4%
2
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1. Proportion of CHPT net income by tenant

2. Includes federal, state and local governments

Charter Hall Group 2022 Full Year Results

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Property Investment

ESG Leadership

Partnering with tenant and investor customers to deliver meaningful change

Climate action

Focusing on onsite and offsite renewable

• Group-wide 7-year power purchase agreement (PPA) signed with global renewable energy giant ENGIE

• Supplies the Group’s property portfolio with electricity from 100 per cent renewable sources until 2030

• Charter Hall is Foundational Clean Energy Partner for three solar farms currently in development, in addition to the already established wind farm

• Will provide 151GWh of wind and solar power annually to 152 Charter Hall sites

• Direct investment in Australia’s transition to a clean energy future

• 70% reduction in emissions by 2024

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Achievements in FY22
$2.5bn in sustainable finance 54% [1 ] reduction in absolute Customer partnerships
transactions emissions [2 ] against FY17 baseline The Group now has 47MW of solar
Up from $100m in FY21, linked to ESG installed an increase of 6MW in the year.
driven by ongoing energy efficiency and
performance and Green Building ratings
100% supply of renewable electricity to
our Office and Industrial sectors. Ranked
8th in the FT/Nikkei Asia Pacific Climate
200 Leaders list 2022
Focus areas in FY23+
100% net zero carbon Scope 3 emissions
emissions by 2030 [1] Establishing Scope 3 Target aligned
to Science Based Target initiative
Willogoleche Wind Farm (ENGIE)
1. Emissions reduction has been calculated using a market-based approach. Final assured non-financial data will be published in our FY22 Sustainability Report.
2. Scope 1 and Scope 2 emissions in operational control. 20
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Charter Hall Group 2022 Full Year Results

Property Investment

ESG Leadership

Partnering with tenant and investor customers to deliver meaningful change

Social

Strong communities

• Aligned to our 1% Pledge commitment, invested $1.27m in social enterprise and community initiatives, up 72% from FY21

• Delivered 191 employment outcomes for vulnerable young Australians with state based social enterprise partners

• Provided $578k in crisis support to GIVIT, Foodbank and UNICEF to combat impacts of COVID-19 and flooding

• Winner 2022 Social Traders Game Changer Award (NSW/ACT) for Two Good Co partnership on social procurement in our Office assets

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Achievements in FY22
Health and Wellbeing Employer of Choice Engagement
Winner of HR Awards 2021 Awarded the WGEA Employer of Global high performing level of
Best Health & Wellbeing Program Choice for Gender Equality citation engagement (88% overall) with
and recognised as an industry leader 93% of our people saying that we
for initiatives to achieve gender equality are a great place to work
Focus areas in FY23+
Creating employment for Growing future capability Reconciliation Action Plan (RAP)
vulnerable youth Retaining and developing key talent Building capacity with First Nation
Targeting 1,200 employment to support future growth businesses and community, following
outcomes by 2030 approval of our RAP
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Bay Plaza, Hervey Bay Qld
21
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Charter Hall Group 2022 Full Year Results

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Financial
4 Result
Australian Red Cross, Sydney (CLW)
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Charter Hall Group Charter Hall Group 2022 Full Year Results2022 Full Year ResultsResults

22

Financial Result

Earnings summary

• PI EBITDA increased by 16.2%, as a result of increased investment activity

• FM EBITDA growth of 170.1% to $552.2m

• PIM NPAT of $13.3m included in FM EBITDA (6 month contribution)

• Distribution payout ratio of 35% in the year

• 7.5cps of franking credits distributed

($m)	FY21	FY22	Change%
PI EBITDA	123.0	142.9	16.2%
DI EBITDA	34.2	35.5	3.8%
FM EBITDA1	204.4	552.2	170.1%
EBITDA	361.6	730.5	102.0%
Depreciation	(7.8)	(8.8)	12.8%
Interest income/expense	(8.4)	(12.7)	51.2%
Operatingearningspre-tax	345.4	709.0	105.2%
Tax	(61.1)	(166.2)	172.0%
Operatingearningspost-tax	284.3	542.8	90.9%
Non operating items
Change in Property Investment valuation2	228.0	355.9	56.1%
Other non-operating items2	(35.5)	12.4	(134.9%)
Statutory profit after tax	476.8	911.1	91.1%
OEPSpre-tax (cps)	74.2	151.0	103.7%
OEPSpost tax(cps)	61.0	115.6	89.5%
Distributionper security (cps)	37.9	40.1	6.0%
Payout Ratio	62%	35%	(27%)

1. In assessing the financial performance of the business, net operating expenses are considered to be primarily related to the Funds Management business

2. Includes the Group’s proportionate share of non-operating items of equity accounted investments on a look through basis and investments held at fair value through profit and loss

Charter Hall Group 2022 Full Year Results

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Financial Result

Funds management

• Funds management revenue growth of 35.9% outpaces Total FM expense growth, driven by continued momentum in FUM

• Transaction and performance revenue up 456.9% reflecting fund outperformance and transaction activity

• Portfolio growth reflected by property services revenue increase of 16.8% to $75.8m

• Total FM expenses up by 31.1% driven by increased scale of the funds management platform and normalisation of operating costs

• FM EBITDA margin of 54.4% (excluding transaction & performance revenue)

($m)	FY21	FY22	Change%
Fund management revenue	187.8	255.2	35.9%
Transaction and performance revenue	66.8	372.0	456.9%
Investment management revenue	254.6	627.2	146.3%
Property, facilities and project management revenue	26.5	35.9	35.5%
Development revenue	22.8	24.6	7.9%
Leasing revenue	15.6	15.3	(1.9%)
Property services revenue	64.9	75.8	16.8%
FM revenue	319.5	703.0	120.0%
Operating expenses	(115.1)	(150.8)	31.1%
Total FM expenses	(115.1)	(150.8)	31.1%
FM EBITDA	204.4	552.2	170.1%

Charter Hall Group 2022 Full Year Results

24

Financial Result

Funds management Margin expansion achieved through platform scale

FM EBITDA margins, FY17-FY22

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90.0%
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(%)
80.0%
78.5%
70.0%
60.0%
54.4%
50.0%
49.9%
40.0%
30.0%
26.7%
20.0% FM margin (excl Trans & Performance revenue)
FM margin
10.0%
-
FY17 FY18 FY19 FY20 FY21 FY22
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FM revenue & expense trend, FY17-FY22 ($m)

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800
5-Year CAGR
700
Fund management revenue 27.7%
Property services revenue 10.1%
600
Transaction and performance revenue 45.7%
Net operating expenses 11.1%
500
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Fund management revenue 27.7%
Property services revenue 10.1%
600
Transaction and performance revenue 45.7%
Net operating expenses 11.1%
372.0
500
400
203.8
300
66.8 75.8
96.3 64.9
200
55.2
56.3
56.7
52.6
255.2
44.8
100 46.8 187.8
153.3
114.0
88.0
75.0
-
FY17 FY18 FY19 FY20 FY21 FY22
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Charter Hall Group 2022 Full Year Results

25

Financial Result

Balance sheet and return metrics

• Available cash of $595 million

• Other assets include PIM partnership

• Balance sheet gearing of 0.0% post deployment of cash into PI investments & PIM

• NTA per security growth of 28% since June 2021 to $6.26

• Investment capacity of $795 million available for fund creation and growth opportunities

• Continued strong return on capital metrics

($m)	30 Jun 2021	30 Jun 2022
Cash	344	595
Property investment	2,409	2,918
Development investment	76	78
Receivables	107	110
Other assets1	16	308
Intangibles	115	114
Total assets	3,067	4,123
Borrowings1	482	482
Other liabilities	214	395
Total liabilities	696	877
Total equity	2,371	3,247
Contributed equity per stapled security	$3.69	$3.92
NTA per stapled security2	$4.91	$6.26
Balance sheet gearing	5.0%	0.0%
Look through gearing	32.4%	24.9%
Headstock investment capacity3	544	795
Return metrics
Return on NTA (pre-tax)4	17.3%	30.8%
Return on NTA (post-tax)4	14.3%	23.6%
Return on contributed equity (post-tax)5	16.5%	31.4%

• Note: Balance sheet presented excludes the consolidation of the Charter Hall Direct Long WALE Fund (LWF) (2021) and the Charter Hall Wholesale Property Series 2 Fund (2022). Reconciliation to the 2022 financial statements can be found on slide 41

• Net of swap mark-to-market of $26.1m relating to the USPP note and A$MTN (representing USPP and A$MTN repayment values of $231.5m and $250m, respectively)

• Net tangible assets (NTA) per stapled security ($) is calculated using assets less liabilities, net of intangible assets and related deferred tax

• Investment capacity calculated as cash plus undrawn debt

• Return on NTA is calculated as total operating earnings pre-tax/post-tax per security divided by the opening NTA per security for the 12 months to 30 June 2022

• Return on contributed equity is calculated as total operating earnings post-tax per security divided by the opening contributed equity per security for the 12 months to 30 June 2022

Charter Hall Group 2022 Full Year Results

26

Financial Result

Platform capital profile

• $7.9bn of available liquidity plus committed and uncalled equity

• $15.6bn of new and refinanced debt facilities agreed in FY22

• $2.5bn of sustainable finance facilities

• Weighted average gearing across the funds is 26.9%

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Funds platform debt metrics [1] 30 Jun 2021 30 June 2022
Total facility limits ($m) 20,089 25,089
Total undrawn debt ($m) 5,043 6,605
Total cash ($m) 1,634 1,338
Weighted average debt maturity (yrs.) [2] 4.4 4.6
Weighted average cost of debt (%) [3] 2.4% 3.1%
Weighted average interest rate hedging (%) 62% 57%
Gearing by Equity Source
35.0% Average Gearing
30.0% 26.9%
30.5%
25.0% 27.7%
25.8%
20.0%
15.0%
10.0%
5.0%
-
Wholesale Direct Listed
% Property
FUM 63 % 16 % 21 %
Balance Sheet Gearing (%)
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1. Total platform includes Corporate debt facility limits of $712m, drawn to $481.5m, with $594.7m as cash balance 2. Duration is based on facility limits

2. Passing cost of debt includes floating rate, hedge rate, margins, line fee but excludes undrawn line fees and amortised borrowing costs

Charter Hall Group 2022 Full Year Results

27

Update and 5 Guidance Brisbane City Council Bus Network Terminal, Brisbane (CQE & CLW) Charter Hall Group Charter Hall Group 2021 Full Year Results 2022 Half YearResults

Charter Hall Group 2022 Full YearResults

Update and Guidance

FY23 – Year to date activity

$3.5bn of net transactions since 30 June 2022

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Year to date activity Property FUM by Sector
$0.4bn
$0.1bn
$0.4bn $69.1bn Listed Equities
$1.0bn
$0.4bn
Long WALE Retail 0.5%
$10.1bn
$1.6bn
14.6%
Industrial & Logistics
$22.4bn
32.4%
Social Infrastructure
$4.0bn
$65.6bn
5.8%
$69.1bn
SC Retail
Office $4.4bn
$27.8bn 6.4%
40.2%
Property FUM Irongate Southern 383 Kent Gull Other net Property FUM
Jun-22 Cross acquisitions Aug-22
(CHPIP2) (CPOF) (CPOF/Partner) (CQR)
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Charter Hall Group 2022 Full Year Results

29

Update and Guidance

FY23 operating earnings guidance

Based on no material adverse change in current market conditions, FY23 guidance is for post-tax operating earnings per security of no less than 90 cents.

FY23 distribution per security guidance is for 6% growth over FY22.

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Wesley Place, 130 Lonsdale Street, Melbourne (CPOF)

Charter Hall Group 2022 Full Year Results

30

Additional 6 Information Charter Hall Offices, 1 Martin Place, Sydney (CHOT)

Charter Hall Group Charter Hall Group 2022 Full Year Results2022 Full Year ResultsResults

Additional Information

Management bench experience Charter Hall Executive Committee (EXCO)

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David Harrison Managing Director & Group CEO

35 years industry experience

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Sean McMahon Chief Investment Officer

• 32 years industry experience

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Russell Proutt

Chief Financial Officer

• 32 years industry experience

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Carmel Hourigan Office CEO

• 30 years industry experience

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Richard Stacker Industrial & Logistics CEO

• 28 years industry experience

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Natalie Devlin Chief Experience Officer

• 25 years industry experience

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Ben Ellis Steven Bennett Retail CEO Direct CEO

• 23 years industry 21 years industry experience experience

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Sheridan Ware Chief Information & Technology Officer

• 22 years industry experience

Charter Hall Group 2022 Full Year Results

32

Additional Information

Charter Hall Group Property Platform[1]

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$0.1bn
$11.6bn
$4.4bn
$3.2bn
$27.3bn
$0.4bn
$17.4bn
$0.6bn
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1. Excludes Maxim and other smaller investments

Charter Hall Group 2022 Full Year Results

33

Additional Information

Charter Hall managed funds

	Industrial & Logistics	Industrial & Logistics	Long WALE Retail	Long WALE Retail		Office				Social Infrastructure	Social Infrastructure	SC Retail	Listed Equities
	$21.2bn		$9.9bn			$26.0bn				$3.7bn		$4.4bn	$14.7bn
Wholesale (Unlisted) Equity	CPIF $11.8bn	CLP 1 $2.7bn	LWHP $2.4bn	LWIPs 4 $0.9bn	LEP $0.9bn	CPOF 6 $8.9bn	CHOT $3.9bn		BSWF 7 $0.7bn	CHET 9 $0.5bn		CPRF $0.4bn	Australian Equities $10.3bn
	CHALWF 2 $0.5bn	CHPIP $0.7bn	BPH $0.2bn	DVP $0.1bn	DJs $0.1bn	CCT $0.5bn	Mandates $1.7bn		DVP $0.7bn			RPs 10 $0.7bn	Global Equities $4.0bn
			Ampol/BP 5			Chifley	242X/201E	8	CHAIT
			$0.9bn			$1.2bn	$0.8bn		$0.4bn
Direct	DIFs	Diversified 3	BW Trust	Diversified 3		DOF	PFA		Other 3	Other 3			MAXIM
(Unlisted) Equity	$3.4bn	$0.2bn	$0.2bn	$0.4bn		$3.2bn	$2.5bn		$0.1bn	$0.2bn			$0.4bn
Listed	CLW	CQR	CLW	CQR		CLW				CQE	CLW	CQR
Equity	$1.9bn	$0.1bn	$3.0bn	$0.8bn		$1.4bn				$2.1bn	$0.8bn	$3.3bn

Note: Numbers on this page may not add due to rounding

1. DIF4 holds 8.9% of the units in CLP

2. CPIF holds 50% of the units in CHALWF

3. Diversified includes LWF, WPS1 and WPS2. Other includes WPS1 and WPS2

4. LWIPs include LWIP and LWIP2. CLW hold 49.9% of the units in LWIP

5. DOF holds 0.9% of the units in CPOF

6. CPOF holds 49.9% of the units in BSWF

7. DVP holds 47.1% of the units in 201E, CPOF and CLW hold 49.9% and 15% respectively, of the units in 242X

   • CLW and LWF hold 50% and 3.7% respectively, of the units in CHET

9. RPs include RP1, RP2 and RP6. CQR holds 50%, 49.9%, and 20% of the units in RP1, RP2 and RP6 respectively

10. CLW and CQR hold 50% and 47.5% respectively, of the units in BP

Charter Hall Group 2022 Full Year Results

34

Additional Information

Wholesale pooled and partnerships property funds

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Gearing 25.8% WALE 8.0yrs CHC investment $1.6bn

FUM $41.6bn

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Occupancy 97.2%

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Cap rate 4.2%

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Midwest Logistics Hub, Truganina, Melbourne (CPIF)

Charter Hall Group 2022 Full Year Results

35

Additional Information

Major wholesale property investment portfolio returns Relative to sector specific IPD/MSCI Core Wholesale indices

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20.5%
17.4%
16.7%
15.7% 15.1% 15.4% 15.4%
11.5%
10.5% 10.5%
7.6% 7.6%
CHOT CPOF CPIF CLP LWHP LWIP
2017 to 2022 2017 to 2022 2017 to 2022 2017 to 2022 2017 to 2022 2017 to 2022
Net Return (% p.a) MSCI/IPD Sector Benchmarks
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Office (% p.a) Long WALE Retail (% p.a) Industrial (% p.a) Benchmark (% p.a)

Charter Hall Group 2022 Full Year Results

36

Additional Information

Listed

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FUM $13.5bn

Occupancy 99.3%

Cap rate 4.7%

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Gearing 27.7%

WALE 10.5yrs

CHC investment[1] $0.9bn

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Arnotts, Huntingwood Distribution Facility, Huntingwood (CPIF & CLW)

1. Held at accounting value not market value

Charter Hall Group 2022 Full Year Results

37

Additional Information

Charter Hall Direct

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FUM Gearing $10.5bn 30.5% Occupancy WALE 98.8% 8.2yrs Cap rate CHC investment 4.6% $0.5bn

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6 Hassall Street, Parramatta (DOF)

Charter Hall Group 2022 Full Year Results

38

Additional Information

Direct funds have returned an average of 14.6% p.a. since inception Outperforming their respective MSCI/IPD indices[1] by over 1.8x

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25.0%
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20.4%
20.0%
18.4%
16.0% 15.9%
14.8%
15.0%
12.6%
11.2% 11.5%
10.8%
9.5%
10.0% 8.9% 8.9% 8.9% 8.8%
7.3% 7.5% 7.1%
6.8%
5.0%
0.0%
DOF 3 PFA3 DIF2 3 DIF33 DIF4 BW Trust LWF WPS1 Maxim 4
2014-2022 2017-2022 2013-2022 2014-2022 2016-2022 2014-2022 2017-2022 2020-2022 2012-2022
Australian Office Australian Office Australian Industrial & Australian Industrial & Australian Industrial & Australian Diversified Australian Diversified Australian Diversified Australian Diversified
Logistics Logistics Logistics / Long WALE / Long WALE / Long WALE
2 1
Direct Fund (% p.a.) Benchmark (% p.a.)
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1. Benchmark refers to the headline MSCI/IPD Unlisted Core Wholesale Property Fund Index returns series as at June 2022, since the respective fund inception dates. Years shown are indicative of inception year to 30 June 2022, though returns are as at exact inception date. Past performance is not a reliable indicator of future performance.

2. DIF2, DIF3, DIF4, LWF, DOF – returns assume Bonus Units or Entitlement Offer as per respective PDS.

3. Returns refer to the following unit classes; DIF2, DIF3 – Wholesale, PFA – Ordinary and DOF – Wholesale A.

4. Benchmark refers to S&P/ASX 300 A-REIT Accumulation Index. Charter Hall Maxim Property Securities Fund and Benchmark Index returns series as at June 2022, over the past 10-year return period. Past performance is not a reliable indicator of future performance.

Charter Hall Group

2022 Full Year Results

39

Additional Information

CHPT Property Investment portfolio

	Industrial & Logistics	Ownership stake (%) Charter Hall Investment ($m) Charter Hall PI Income ($m) WALE (years) WACR (%) WADR (%) WARR1 (%) PI Yield2 (%)
	Charter Hall Prime Industrial Fund(CPIF)	1.4 120.3 4.8 10.7 3.8 5.4 3.2 4.1
	Charter Hall PGGM Industrial Partnership (CHPIP)	12.0 45.9 1.2 8.4 4.2 5.7 3.6 4.1
	Core Logistics Partnership (CLP)	3.6 65.3 3.3 8.7 3.8 5.5 3.1 4.6
	Long WALE Retail
	LongWALE Hardware Partnership (LWHP)	15.7 239.9 7.4 7.3 4.1 5.4 3.0 4.5
	CH DJ Trust(CHDJT)3	21.6 80.4 4.4 18.7 4.3 6.8 2.5 6.2
	Other LongWALE Retail investments	37.8 3.3 n/a n/a n/a n/a n/a
	Office
	Charter Hall Prime Office Fund(CPOF)	5.1 325.6 12.7 6.4 4.6 5.7 3.7 4.4
	Charter Hall Office Trust(CHOT)	15.7 311.2 16.6 6.2 4.4 5.6 3.6 6.1
	Charter Hall Direct PFA Fund(PFA)	12.2 205.5 10.9 6.7 4.9 5.9 3.4 5.9
	Charter Hall Direct Office Fund(DOF)	8.7 183.7 8.9 7.0 4.7 5.8 3.8 5.6
	Brisbane Square Wholesale Fund(BSWF)	16.8 126.7 9.0 7.4 4.9 6.0 3.9 8.4
	Other Office investments4	104.9 5.5 n/a n/a n/a n/a n/a
	Social Infrastructure
	Charter Hall Social Infrastructure REIT(ASX:CQE)5	8.7 126.4 5.5 14.3 4.8 n/a 3.5 5.6
	Charter Hall Exchanges Trust(CHET)	4.5 24.8 1.8 18.1 3.7 5.1 3.6 5.3
	Shopping Centre Retail
	Charter Hall Retail REIT(ASX:CQR)5, 6	10.7 300.6 17.6 7.4 5.2 5.9 3.2 7.2
	Diversified
	Charter Hall LongWALE REIT(ASX:CLW)5	10.7 470.7 22.8 12.0 4.3 5.6 4.6 5.8
	Charter Hall DVP Fund(DVP)	10.0 49.8 2.2 5.9 4.6 6.0 3.2 4.7
	Other investments7	98.6 5.0 n/a n/a n/a n/a n/a
	Property Investment Total	6.58 2,918.1 142.9 8.2 4.6 5.8 3.6 5.6

1. CPI is assumed at 6.5% over the forecast period

2. PI Yield is calculated as operating earnings divided by weighted average investment during the period. Excludes MTM movements in NTA during the year

3. Ownership stake reflects look-through ownership of the property via 43.2% ownership in CH DJ Trust

4. Held at accounting value not market value

5. Refers to contracted weighted average rent reviews of the specialty tenants only

6. • Includes DVAP, WPS2, Maxim, Maxim Property Income Fund and RP2

8. Reflects CHPT percentage of total equity under management

9. Includes 242X, 201E, CHAB247, CHAIT, CCT, No.1 Brisbane, CHKIP and CHCOT

Charter Hall Group 2022 Full Year Results

40

Additional Information

Statutory balance sheet reconciliation

($m) Statutory Balance Sheet Adj. 1: Reclassify WPS2 as Equity Accounted investment Adj 2: Reclassify mark-to-market on derivatives Investor Presentation (slide 26)	($m) Statutory Balance Sheet Adj. 1: Reclassify WPS2 as Equity Accounted investment Adj 2: Reclassify mark-to-market on derivatives Investor Presentation (slide 26)	($m) Statutory Balance Sheet Adj. 1: Reclassify WPS2 as Equity Accounted investment Adj 2: Reclassify mark-to-market on derivatives Investor Presentation (slide 26)	($m) Statutory Balance Sheet Adj. 1: Reclassify WPS2 as Equity Accounted investment Adj 2: Reclassify mark-to-market on derivatives Investor Presentation (slide 26)	($m) Statutory Balance Sheet Adj. 1: Reclassify WPS2 as Equity Accounted investment Adj 2: Reclassify mark-to-market on derivatives Investor Presentation (slide 26)
Cash 595 - - 595
Property Investment 2,882 36 - 2,918
Development Investment 78 - - 78
Investment Properties - - - -
Receivables 110 - - 110
Other assets 413 (79) (26) 308
Intangibles 114 - - 114
Total assets 4,193 (43) (26) 4,123
Borrowings 508 - (26) 482
Other liabilities 395 - - 395
Total liabilities	903	-	(26)	877
Total equity	3,290	(43)	-	3,247

Charter Hall Group 2022 Full Year Results

41

Additional Information

Portfolio performance review testing FY23 – FY28

	Fund Testing frequency	Fund Testing frequency
	Charter Hall Direct Industrial Fund No. 2 (DIF2) FY23	FY23
	Core Logistics Partnership (CLP) FY23, FY27 plus individual asset divestments
	Charter Hall Direct Long WALE Fund (LWF) 5 yearly – FY23, FY28, etc
	Charter Hall PFA Fund (PFA) 5 yearly – FY23, FY28, etc plus individual asset divestments
	Retail Partnership No. 2 (RP2) 7 yearly – FY23, etc
	Charter Hall Direct BW Trust (BW Trust) FY24	FY24
	Charter Hall Prime Office Fund (CPOF) 3 yearly – FY24, FY27, etc
	Counter Cyclical Trust (CCT) FY25	FY25
	Direct Office Fund (DOF) 5 yearly – FY25, etc
	Brisbane Square Wholesale Fund (BSWF) 3 yearly – FY25, FY28 etc
	Charter Hall 242 Exhibition St Trust (242X) 3 yearly – FY25, FY28 etc
	Charter Hall Exchanges Trust (CHET) FY25
	Charter Hall Direct Industrial Fund No. 3 (DIF3) FY25
	Charter Hall Prime Industrial Fund (CPIF) 3 yearly – FY25, FY28 etc
	Charter Hall DVP Fund (DVP) 7 yearly – FY26, etc plus individual asset divestments	FY26
	Long WALE Hardware Partnership (LWHP) 4 yearly – FY26, etc
	Charter Hall Direct Industrial Fund No. 4 (DIF4) 5 yearly – FY27, etc	FY27
	Charter Hall PGGM Industrial Partnerships (CHPIP 1 & 2) 8 yearly – FY27, etc
	Charter Hall Office Trust (CHOT) FY27

Charter Hall Group

2022 Full Year Results

42

Additional Information

Fund key and glossary

Listed entities

	Listed entities
	ASX:CHC Charter Hall Group
	ASX:CLW Charter Hall Long WALE REIT
	ASX:CQR Charter Hall Retail REIT
	ASX:CQE Charter Hall Social Infrastructure REIT

Direct funds

Direct funds
DOF	Charter Hall Direct Office Fund
PFA	Charter Hall Direct PFA Fund
DIF2, DIF3, DIF4	Charter Hall Direct Industrial Fund series
BW Trust	BW Trust
LWF	Charter Hall Direct Long WALE Fund
WPS1, WPS2	Charter Hall Wholesale Property series
MAXIM	Charter Hall Maxim Property Securities Fund

Glossary

Glossary
CAGR	Compound Annual Growth Rate
DI	Development Investments
FUM	Funds Under Management
NTA	Net Tangible Assets
OEPS	Operating Earnings per Security
FM	Funds Management
PI	Property Investments
PIM	Paradice Investment Management
WACR	Weighted Average Cap Rate
WADR	Weighted Average Discount Rate
WALE	Weighted Average Lease Expiry
Charter Hall Group WARR	Weighted Average Rent Review
~~2022 Full Year Results~~

Wholesale funds

Wholesale funds
BSWF	Brisbane Square Wholesale Fund
CCT	Charter Hall Counter Cyclical Trust
CHAB247	Charter Hall Abacus 247 Adelaide Street Trust
CHAIT	Charter Hall Australian Investment Trust
CHCOT	Charter Hall Canberra Office Trust
CHOT	Charter Hall Office Trust
CPOF	Charter Hall Prime Office Fund
CTT	Charter Hall Chifley Tower Trust
CHALWF	Charter Hall ALDI Logistics Wholesale Fund
CLP	Core Logistics Partnership
CHPIP1, CHPIP2	Charter Hall PGGM Industrial Partnerships
CPIF	Charter Hall Prime Industrial Fund
CPRF	Charter Hall Prime Retail Fund
RP1, RP2, RP6	Retail Partnership series
DVAP	Charter Hall DVAP Fund
DVP	Charter Hall DVP Fund
CHET	Charter Hall Exchanges Trust
CHAPF	Charter Hall Ampol Property Fund
BPH	Charter Hall Bunnings Holding Trust
BPP	Charter Hall bp Partnership
LWHP	Long WALE Hardware Partnership
LWIP, LWIP2	Long WALE Investment Partnership series

43

Further information

Investor Relations

Tel 1300 365 585 (within Australia) +61 2 8651 9000 (outside Australia)

Email reits@charterhall.com.au

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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 2022 unless otherwise stated. All references to dollars ($) are to Australian dollars, unless otherwise stated.

Charter Hall Group 2022 Full Year Results

44