GPT GROUP — Earnings Release 2023

Feb 18, 2024

ASX Announcement

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19 February 2024

Appendix 4E – The GPT Group

The GPT Group (‘GPT’ or ‘Group’) provides the Appendix 4E for the Group.

-ENDS-

Authorised for release by The GPT Group Board.

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

GPT Group Appendix 4E

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 2023

Results for announcement to the market

Results for announcement to the market
2.1 Total revenues and other income 2.2 Profit from operations as assessed by Directors (1) 2.3 Net loss after income tax expense attributable to stapled security holders	down 65.2 % to $322.1 million down 3.2 % to $600.9 million down 151.1 % to $240.0 million
2.4 Distributions For the six months period ended 31 December 2023 This distribution was declared on 20 December 2023 and is expected to be paid on 29 February 2024.	Amount per stapled security	Franked amount per stapled security
	12.50 cents	—
2.5 Record date for determining entitlement to the distributions 29 December 2023
2.6 Brief explanation of any figures in 2.1 to 2.4 necessary to enable the figures to be understood Refer to the attached announcement for a detailed discussion of GPT Group's results for the year ended 31 December 2023.
3.6 A statement of comprehensive income, statement of financial position, statement of cash flows and a statement of changes in equity Refer to the attached Annual Financial Report for the year ended 31 December 2023
7.0 Details of individual and total dividends or distribution payments.	Amount per stapled security		Total
6 month period ended 30 June 2023 - paid 31 August 2023 6 months period ended 31 December 2023 - to be paid 29 February 2024 No part of the distribution constitutes conduit foreign income.	12.50 cents 12.50 cents		$239.4 million $239.4 million
8.0 Details of any dividend or distribution reinvestment plans in operation The DRP will not be available with respect to the December 2023 half yearly distribution.
9.0 Net tangible assets per security (2)	31 December 2023 $5.61		31 December 2022 $5.98
10.0 Details of entities over which control has been gained or lost during the year Not applicable for the year ended 31 December 2023.

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

GPT Group Appendix 4E

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:

Name of associate and joint venture entities Contribution to GPT Group's net i 31 Dec 23 31 Dec 22 $ million $ million Joint Ventures Entities Incorporated in Australia* 2 Park Street Trust (42.2) 3.2	Name of associate and joint venture entities Contribution to GPT Group's net i 31 Dec 23 31 Dec 22 $ million $ million Joint Ventures Entities Incorporated in Australia* 2 Park Street Trust (42.2) 3.2
Horton Trust Lendlease GPT (Rouse Hill) Pty Limited GPT QuadReal Logistics Trust Associates* Entities Incorporated in Australia GPT Wholesale Shopping Centre Fund GPT Wholesale Office Fund Darling Park Trust Total share of after tax (loss)/profits of equity accounted investments	0.8 2.5 — (0.1) (9.9) 9.9 2.8 81.8 (86.4) (33.9) (47.4) (0.6)
	(182.3) 62.8

• Refer to Note 3 of the Annual Financial Report for names and percentage holdings of each associate and joint venture.

12.0[Any other significant information needed by an investor to make an informed assessment of the entity's financial ] performance and financial position

Refer to the attached announcement for a detailed discussion on the performance and financial position of GPT Group for the year ended 31 December 2023.

14.0 A commentary on the results for the year.

Refer to the attached announcement for a detailed discussion on the performance and financial position of GPT Group for the year ended 31 December 2023.

15.0 This 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 2023.