CHARTER HALL GROUP — Capital/Financing Update 2021

Dec 12, 2021

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ASX Release

Upgraded FY22 earnings guidance and FUM growth update

13 December 2021

Charter Hall Limited ACN 113 531 150 Charter Hall Funds Management Limited ABN 31 082 991 786 Level 20, No.1 Martin Place Sydney NSW 2000 GPO Box 2704 Sydney NSW 2001 T +61 2 8651 9000 F +61 2 9221 4655 www.charterhall.com.au

Charter Hall Group (ASX:CHC) provides updated earnings guidance today.

In accordance with the Group’s 6-monthly valuation process, almost 100% of all Group platform properties have been independently valued, proving a net valuation uplift of circa $3.5 billion as at 31 December, 2021 subject to audit and relevant fund Board approvals of financial statements. It is also noted that the Charter Hall managed consortium comprising CLW and Hostplus now have unconditional ALE securityholder and Court approval to complete the Scheme of Arrangement on 17 December, 2021.

As a result of valuations and unconditional transaction activity to date, Group FUM is now expected to be $61.3bn as at 31 December, 2021.

As these valuation uplifts increase FUM and likely performance fees payable at testing dates during the fiscal year, the Group upgrades FY22 operating earnings per security guidance to no less than 105 cents per security.

Group Managing Director and CEO David Harrison commented “it is pleasing to see the hard work we have put into curating and growing high quality portfolios for our fund investors over many years has delivered excellent financial returns, well above expectations and performance fee hurdles. The resultant performance fees, whilst positive for the Group, also highlights the outperformance delivered for investors given fund investors typically receive 80% of excess total returns above the hurdles established at inception of the funds and partnerships.”

FY22 distribution per security guidance remains unchanged and is for 6% growth over FY21 distributions per security.

Announcement Authorised by the Board

Charter Hall Group (ASX: CHC)

With over 30 years’ experience in property investment and funds management, we’re one of Australia’s leading fully integrated property groups. We use our property expertise to access, deploy, manage and invest equity across our core sectors – Office, Industrial & Logistics, Retail and Social Infrastructure.

Operating with prudence, we’ve curated a diverse $61.3 billion portfolio of 1,506 high quality properties. With partnership at the heart of our approach, we’re creating places that help grow communities; turning them into the best they can be and unlocking hidden value. Taking a long-term view, our $9 billion development pipeline delivers sustainable, technologically enabled projects for our customers.

The impacts of what we do are far-reaching. From helping businesses succeed by supporting their evolving workplace needs, to providing investors with superior returns for a better retirement, we’re powered by the drive to go further.

For further enquiries, please contact For investor enquiries, please contact For media enquiries, please contact David Harrison Philip Cheetham Megan Moore Managing Director and Group CEO Head of Listed Investor Relations Communications and Media Manager Charter Hall Charter Hall Charter Hall T +61 2 8651 9142 T +61 403 839 155 T + 61 434 225 643 david.harrison@charterhall.com.au philip.cheetham@charterhall.com.au megan.moore@charterhall.com.au

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