GPT GROUP — Annual Report 2021

Feb 13, 2022

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14 February 2022

Appendix 4E – The GPT Group

The GPT Group (‘GPT’) provides the Appendix 4E for The GPT Group which is authorised for release by The GPT Group Board.

-ENDS-

For more information, please contact:

INVESTORS AND MEDIA

Penny Berger Head of Investor Relations and Corporate Affairs

+61 402 079 955

www.gpt.com.au

Level 51, 25 Martin Place, Sydney NSW 2000

GPT Group Appendix 4E

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Appendix 4E

GPT Group (comprising General Property Trust and its controlled entities and GPT Management Holdings Limited and its controlled entities)

Annual Financial Report For the year ended 31 December 2021

Results for announcement to the market

2.12.22.3	Total revenues and other incomeProfit from operations as assessed by Directors(1)Net profit after income tax expenseattributable to stapled security holders(2)	720.6%to$1,971.1 million0.0%to$554.5 million767.4%to$1,422.8 millionupdownup
2.4	DistributionsFor the six month period ended 31 December 2021, a distribution of 9.9 cents per stapled security was declared on 14 February 2022 and isexpected to be paid on 28 February 2022.A provision for distribution has not been recognised as at 31 December 2021 and the distribution has been declared as a subsequent event.
2.5	Record date for determining entitlement to the distributions		18 February 2022
2.6	Brief explanation of any figures in 2.1 to 2.4 necessary to enable the figures to be understoodRefer to the attached announcement for a detailed discussion of GPT Group's results for the year ended 31 December 2021.
3 - 6	A statement of comprehensive income, statement of financial position, statement of cash flows and a statement of changes in equityRefer to the attached Annual Financial Report for the year ended 31 December 2021.
7.0	Details of individual and total dividends or distribution payments.	Amount per stapled security	Total
	6 month period ended 30 June 2021 - paid 31 August 20216 month period ended 31 December 2021 - to be paid 28 February 2022No part of the distribution constitutes conduit foreign income.	9.9 cents13.3 cents	$189.6 million$254.8 million
8.0	Details of any dividend or distribution reinvestment plans in operationThe DRP will not be available with respect to the December 2021 half yearly distribution.
9.0	Net tangible assets per security(3)	31 December 2021$6.09	31 December 2020$5.57
10.0	Details of entities over which control has been gained or lost during the yearNot applicable for the year ended 31 December 2021.

(1) Profit from operations attributable to security holders of GPT represents the Directors’ assessment of Funds from Operations (FFO). FFO represents GPT’s underlying and recurring earnings from its operations. This is determined by adjusting statutory net profit after tax under Australian Accounting Standards for certain items which are non-cash, unrealised or capital in nature. FFO includes impairment losses related to uncollected trade receivables. FFO has been determined in accordance with the guidelines issued by the Property Council of Australia.

(2) Comparatives have been restated to reflect the implementation of an IFRIC agenda decision. Refer to the financial statements for further detail.

(3) Includes all right-of-use assets of GPT Group.

GPT Group Appendix 4E

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11.0 Details of associates and joint venture entities

The associate and joint ventures’ who contribute to The GPT Group’s net profit are detailed below:

11.0Details of associates and joint venture entitiesThe associate and joint ventures’ who contribute to The GPT Group’s net profit are detailed below:	11.0Details of associates and joint venture entitiesThe associate and joint ventures’ who contribute to The GPT Group’s net profit are detailed below:
Name of associate and joint venture entitiesJoint Ventures*Entities Incorporated in Australia2 Park Street Trust1 Farrer Place TrustHorton TrustLendlease GPT (Rouse Hill) Pty LimitedGPT QuadReal Logistics TrustAssociates*Entities Incorporated in AustraliaGPT Wholesale Shopping Centre FundGPT Wholesale Office FundDarling Park TrustTotal share of after tax profits of equity accounted investments* Refer to Note 3 of the Annual Financial Report for names and percentage holdings of e	31 Dec 2131 Dec 20$million$million74.942.1-6.01.4(2.2)0.94.66.7-45.6(190.3)186.934.368.26.1384.6(99.4)ach associate and joint venture.Contribution to GPT Group's net profit
12.0Any other significant information needed by an investor to make an informed assessmentRefer to the attached announcement for a detailed discussion on the performance and fin31 December 2021.	of the entity's financial performance and financial positionancial position of GPT Group for the year ended
14.0A commentary on the results for the year.Refer to the attached announcement for a detailed discussion on the performance and fin31 December 2021.	ancial position of GPT Group for the year ended
15.0This report is based on accounts which have been audited.Refer to the independent auditor's report in the attached Annual Financial Report for the	year ended 31 December 2021.