GPT GROUP — Interim / Quarterly Report 2020

Aug 9, 2020

GPT Group Appendix 4D

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Appendix 4D

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

Interim Financial Report For the half year ended 30 June 2020

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	9.9%to$359.3 million17.4%to$244.5 million247.2%to($519.1) millionDownDownDown	9.9%to$359.3 million17.4%to$244.5 million247.2%to($519.1) millionDownDownDown
2.4	DistributionsFor the half year ended 30 June 2020, a distribution of 9.3 cents per stapled security was declared on 10 August 2020 and is expected to bepaid on 28 August 2020.A provision for distribution has not been recognised as at 30 June 2020 and the distribution declaration has been declared as asubsequent event.
2.5	Record date for determining entitlement to the distributions		14 August 2020
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 half year ended 30 June 2020.
3.0	Net tangible assets per security(2)	30 June 2020$10,744.20	31 December 2019$5.80
4.0	Details of entities over which control has been gained or lost during the periodNot applicable for the half year ended 30 June 2020.
5.0	Details of individual and total dividends or distribution payments.	Amount per stapled security	Total
	6 month period ended 30 June 2020 - to be paid 28 August 2020No part of the distribution constitutes conduit foreign income.	9.3 cents	$181.2 million

(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 has been determined in accordance with the guidelines established by the Property Council of Australia.

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

GPT Group Appendix 4D

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• 6.0 Details of any dividend or distribution reinvestment plans in operation

The DRP will not be available with respect to the June 2020 half yearly distribution.

• 7.0 Details of associates and joint ventures entities

The associate and joint ventures’ whose contribution to the GPT Group’s net profit are detailed below:

Name of associate and joint venture entitiesJoint VenturesEntities Incorporated in Australia*2 Park Street Trust1 Farrer Place TrustHorton TrustLendlease GPT (Rouse Hill) Pty LimitedErskine Park TrustAssociatesEntities Incorporated in Australia*GPT Wholesale Shopping Centre FundGPT Wholesale Office FundDarling Park TrustTotal share of after tax (losses) / profits of equity accounted investments	30 Jun 2030 Jun 19$ million$ million19.018.8(8.2)17.5(1.1)0.44.6(0.1)--(182.4)(8.1)(13.3)82.6(7.2)-Contribution to GPT Group's net profit
	(188.6)111.1

• Refer to note 3 of the Interim Financial Report for the ownership interest of the joint venture or associate.