GPT GROUP — Capital/Financing Update 2023

Nov 30, 2023

ASX Announcement

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1 December 2023

GPT credit rating

The GPT Group (‘GPT’ or ‘Group’) advises that S&P has resolved its long term credit rating at A- (previously A) and moved its short term credit rating to A-2 (previously A-1). S&P’s outlook on GPT has been revised to stable.

GPT continues to take a prudent approach to capital management. As at 30 June 2023 GPT had net gearing of 28.1% and liquidity of $1.5 billion which funds capital commitments and debt maturities for the Group through to mid-2026.

GPT’s financial policies remain unchanged with the Group remaining committed to investment grade credit ratings in the “A” range and its long-standing stated gearing range of 25% to 35%. The Group’s Moody’s rating remains unchanged at A2 with a stable outlook.

The movement in rating will have no immediate change in GPT’s debt costs.

-ENDS-

Authorised for release by The GPT Group ’s Managing Director and Chief Executive Officer Bob Johnston.

For more information, please contact:

Investors

Penny Berger Head of Investor Relations & Corporate Affairs +61 402 079 955

Media

Grant Taylor Group External Communications Manager +61 403 772 123

GPT Management Holdings Limited (ACN 113 510 188) and GPT RE Limited (ABN 27 107 426 504) as responsible entity of General Property Trust (ARSN 090 110357), together GPT.

Level 51, 25 Martin Place Sydney NSW 2000 gpt.com.au