CHARTER HALL GROUP — Annual Report 2024

Aug 20, 2024

Appendix 4E Financial Report Page 80

APPENDIX 4E

Financial Report for the year ended 30 June 2024

Name of Entity:

The Charter Hall Group (CHC) - comprising the stapling of ordinary shares in Charter Hall Limited (CHL) (ACN 113 531 150) and units in Charter Hall Property Trust (CHPT) (ARSN: 113 339 147)

The Appendix 4E should be read in conjunction with the financial report of the Charter Hall Group for the year ended 30 June 2024.

Results for announcement to the market

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Year Ended Year Ended Variance
30 June 30 June
2024 2023
$m $m (%)
Revenue 597.8 869.7 (31.3)
Profit after tax attributable to stapled securityholders of
Charter Hall Group (222.1) 196.1 (213.3)
Operating earnings attributable to stapled securityholders [1] 358.7 441.2 (18.7)
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1 Operating earnings is a financial measure which represents statutory profit after tax adjusted for proportionately consolidated fair value adjustments, gains or losses on sale of investments, amortisation and/or impairment of intangible assets, performance fee expenses, nonoperating tax expense and other unrealised or one-off items. Operating earnings is the primary measure of the Group’s underlying and recurring earnings. Operating earnings is used by the Group CEO to make strategic decisions and as a guide to assessing an appropriate distribution to declare.

A reconciliation of the Group’s operating earnings to statutory profit is provided in note 1 of the financial report.

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Year Ended Year Ended Variance
30 June 30 June
2024 2023
cps cps (%)
Basic statutory earnings per stapled security attributable to
stapled securityholders (47.0) 41.5 (213.3)
Diluted statutory earnings per stapled security attributable to
stapled securityholders (46.0) 40.7 (213.0)
Operating earnings per stapled security attributable to stapled
securityholders 75.8 93.3 (18.8)
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Dividends and distributions Year Ended Year Ended
30 June 30 June
2024 2023
Final franked dividend and distribution in respect of a:
CHPT unit 2.30¢ 11.90¢
CHL share 20.70¢ 9.80¢
Interim franked dividend and distribution in respect of a:
CHPT unit 12.15¢ 11.46¢
CHL share 9.94¢ 9.38¢
Total 45.09¢ 42.54¢
Record date for determining entitlements to the dividend/distribution 30 June 2024
Payment date 30 August 2024
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Appendix 4E Financial Report Page 81

Results for announcement to the market (continued)

Net Tangible Assets

Net Tangible Assets
	As at As at 30 June 2024 2023
Net tangible assets(NTA) per stapled security 1	$5.49	$6.28

1 Under the listing rules NTA must be determined by deducting from total tangible assets all claims on those assets ranking ahead of the ordinary securities (ie: all liabilities, preference shares, outside equity interest etc).

The number of securities on issue at 30 June 2024 is 473.0 million (2023: 473.0 million).

Control gained or lost over entities during the year

The following changes in control occurred within the Group during the year:

• Charter Hall MFH Trust 1 (wholly owned entity established on the 14 September 2023)

• Charter Hall MFH Gordon Trust (wholly owned entity established on the 14 September 2023)

• Folkestone Gisborne Development Fund 1 (wholly owned entity wound up on the 30 November 2023)

• Folkestone Gisborne Development Fund 2 (wholly owned entity wound up on the 30 November 2023)

• Folkestone Hadfield Development Fund (wholly owned entity wound up on the 30 November 2023)

• Folkestone Seniors Living Fund No.1 (wholly owned entity wound up on the 30 November 2023)

• Millers Junction Fund (wholly owned entity wound up on the 30 November 2023)

• CHOF6 Western Sydney Airport Trust (wholly owned entity established on 5 March 2024)

• Folkestone Property Management Pty Ltd (wholly owned entity deregistered on 30 March 2024)

• Charter Hall (Singapore) Funds Management PTE. LTD. (wholly owned entity established on 3 April 2024)

• CHPT Wholesale Partnership Holding Trust (wholly owned entity established on 28 June 2024)

• CHPT Wholesale Partnership Investment Trust (wholly owned entity established on 28 June 2024)

• CHPT GP Trust (wholly owned entity established on 28 June 2024)

• Charter Hall Prime Core Wholesale Partnership Trust (wholly owned entity established on the 28 June 2024)

• CHWPT Trust 1 (wholly owned entity established on the 28 June 2024)

Appendix 4E Financial Report Page 82

Results for announcement to the market (continued)

Details of Associates and Joint Venture entities

The Group’s Associates and Joint Venture entities and its percentage holding are set out below:

Associates

• CH Deep Value AREIT Partnership Trust (14.0%)

• Charter Hall Australian Convenience Retail Trust (2.5%)

• Charter Hall Australian Investment Trust (10.0%)

• Charter Hall Canberra Office Trust (5.0%)

• Charter Hall Counter Cyclical Trust (5.0%)

• Charter Hall Crestmead Wholesale Trust (0.1%)

• Charter Hall Direct Industrial Fund No. 4 (1.8%)

• Charter Hall Direct Long WALE Fund (4.0%)

• Charter Hall Direct Office Fund (8.7%)

• Charter Hall Direct PFA Fund (12.6%)

• Charter Hall Direct Plumpton Fund (20.0%)

• Charter Hall Direct Truganina Fund (18.8%)

• Charter Hall Direct Wollert Fund (25.0%)

• Charter Hall Exchange Wholesale Trust (6.5%)

• Charter Hall Long WALE REIT (10.6%)

• Charter Hall Maxim Income Fund (100.0%)

• Charter Hall Maxim Property Securities Fund (16.1%)

• Charter Hall Office Trust (15.7%)

• Charter Hall Prime Industrial Fund (1.3%)

• Charter Hall Prime Office Fund (4.8%)

• Charter Hall Retail REIT (9.3%)

• Charter Hall Social Infrastructure REIT (8.6%)

• Core Logistics Partnership (4.9%)

• Deep Value Partnership (13.2%)

• DOF Mary Street Wholesale Trust (0.1%)

• DVP2 Trust (14.3%)

• Long WALE Investment Partnership (0.1%)

• Retail Partnership No. 2 Trust (0.2%)

Joint Ventures

• 1 Brisbane Trust (24.8%)

• BP Fund[1] (16.6%)

• BP Fund 2[1] (17.5%)  Brisbane Square Wholesale Fund (16.8%)

• CH 201 Elizabeth Holding Trust (5.9%)

• CH 242 Exhibition Street Holding Trust (1.8%)  CH 52 Martin Place Trust (50.0%)  CH A Logistics Wholesale Fund (0.1%)  CH Castlereagh Trust (50.1%)  CH DJ Trust (43.2%)  CH Genge Office Trust (49.9%)  CH Investment Trust (50.0%)  CHAB 241 Adelaide Street Trust (50.0%)  CHAB 247 Adelaide Street Trust (50.0%)  Charter Hall Koala Investment Partnership (20.0%)  Charter Hall PGGM Industrial Partnership (12.0%)  Charter Hall PGGM Industrial Partnership No. 2 (12.0%)  DVP2 Castlereagh St Trust (7.1%)

Appendix 4E Financial Report Page 83

Results for announcement to the market (continued)

• Folkestone ID Land Gisborne JV (50.0%)

• Folkestone Lyon Hornsby Joint Venture (50.0%)

• Paradice Investment Management (50.0%)

1Forms the Long WALE Hardware Partnership.

Further information about the Group’s Associates and Joint Venture entities is set out in Note 2 and Note 3 of the attached financial report.

Other significant information

For additional information regarding the results of Charter Hall Group for the year ended 30 June 2024 please refer to the Full Year Results – ASX Media Announcement and the 2024 Full Year Results Presentation lodged with the ASX. Attached with this Appendix 4E is a copy of the financial report for the year ended 30 June 2024.

Accounting standards used by foreign entities

International Financial Reporting Standards.

Segment results

Refer attached financial report (Note 1: Segment information).

Other Factors

Refer to other significant information (above).

Audit

This report is based on accounts to which one of the following applies: (tick one)

 The accounts have been audited. (refer attached financial statements)	 The accounts have been audited. (refer attached financial statements)	 The accounts have been subject to review. (refer attached financial statements)	 The accounts have been subject to review. (refer attached financial statements)
	The accounts are in the process of being audited or subject to review.		The accounts have not yet been audited or reviewed.