GPT GROUP — Interim / Quarterly Report 2024

Nov 3, 2024

ASX Announcement

==> picture [91 x 58] intentionally omitted <==

4 November 2024

September 2024 Quarterly Update

The GPT Group (‘GPT’) provides its update for the quarter ended 30 September 2024.

-ENDS-

Authorised for release by The GPT Group Board.

For more information, please contact:

Sarah Appleyard Senior Investor Relations Manager +61 417 652 052

Level 51, 25 Martin Place

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.

Sydney NSW 2000 gpt.com.au

Experience First

==> picture [496 x 356] intentionally omitted <==

==> picture [165 x 104] intentionally omitted <==

September 2024 Quarterly Update

Operational update

Investment portfolio

• Total occupancy[1] of 97.9%, with a weighted average lease expiry[1 ] (WALE) of 4.5 years at 30 September 2024

Funds Management

• GWSCF continues to outperform the benchmark over all time periods

• GWOF has outperformed the benchmark across 1, 2 and 3 years

Strategy

• Progressing on 2024 priorities for implementation to embed strategy, align operational capability, and position GPT as an active investment partner across funds and partnerships

Guidance

• Reiterate expectation to deliver 2024 Funds from Operations of approximately 32.0 cents per security and a distribution of 24.0 cents per security

Investment Portfolio performance

	Retail Office1 Logistics1
	Sep 2024 Jun 2024 Sep 2024 Jun 2024 Sep 2024 Jun 2024
Occupancy (%)	99.7 99.6 92.0 92.4 99.3 99.4
WALE (years)	4.0 3.9 4.8 4.9 5.3 5.4
YTD sqm leased (100% basis)	n/a n/a 112,900 92,300 103,200 62,400
YTD leasing deals completed	414 271 104 78 10 6

1. Including Heads of Agreement (HoA).

| SEPTEMBER 2024 QUARTERLY UPDATE

2

Retail Investment Portfolio

414

99.7%

4.0 years

Deals completed[1] (Sep 2023: 534)

Total occupancy WALE (Jun 2024: 99.6%) (Jun 2024: 3.9 years)

Total Specialty leasing metrics

Total Specialty leasing metrics
Deals completed year to date	Sep 2024	Jun 2024
Average annual fixed increase (%)	4.9	4.9
Leasing spreads (%)	3.5	4.3
Average lease term (years)	5.1	5.2

Portfolio performance

Portfolio performance
Period ending	Sep 2024	Jun 2024
Occupancy Cost2(%)	15.7	15.8
Holdovers as % of base rent	4.4	4.4
Specialty MAT ($psm)	13,153	13,052
Total Centre MAT ($m)	3,597	3,551

1. For year to 30 September 2024. 2. Specialty GLA <400sqm.

Sales growth 2024 vs 2023

==> picture [354 x 239] intentionally omitted <==

----- Start of picture text -----

8.0%
6.8%
5.2% 5.3%
4.9%
4.3%
3.6%
2.7%
Jul 2024 Aug 2024 Sep 2024 3Q 2024
Total Centre Total Specialty
----- End of picture text -----

| SEPTEMBER 2024 QUARTERLY UPDATE

3

Office Investment Portfolio

112,900sqm

92.0%

Total occupancy[2] (Jun 2024: 92.4%)

Total leasing[1] , 104 deals (Sep 2023: 93,000sqm, 110 deals)

Leasing metrics[2]

Leasing metrics2
Deals completed year to date	Sep 2024	Jun 20243
Leasing spreads (%)	3.2	2.7
Lease renewals (%)	50	47
New leases (%)	50	53
Weighted average lease term (years)	5.8	5.8
Average gross incentive (%)	38	39

Key leasing 3Q 2024[2,4]

Key leasing 3Q 20242,4
Asset	Tenancy (levels)	Area (sqm)	Term (years)
111 Eagle St, Brisbane	Confidential	3,500	8
161 Castlereagh St, Sydney	L39, Part L40	2,200	7
530 Collins St, Melbourne	Confidential	2,000	7

1. 100% basis, includes HoA, year to 30 September 2024.

2. Including HoA.

4.8 years

WALE[2] (Jun 2024: 4.9 years)

Lease expiry profile[5]

==> picture [420 x 219] intentionally omitted <==

----- Start of picture text -----

Sydney CBD
15%
Sydney Metro & Parramatta
Melbourne
Brisbane
Canberra
9%
8%
4%
1%
Vacant 4Q 2024 2025 2026 2027
----- End of picture text -----

1. June 2024 metrics re-stated to reflect GPT and GPT weighted ownership interest in GWOF. Previously weighted for GPT and GWOF ownership at 100%.

2. 100% basis.

3. Vacant % by area. Lease expiry % by income. Including HoA.

| SEPTEMBER 2024 QUARTERLY UPDATE

4

Logistics Investment Portfolio

103,200sqm

99.3%

Total occupancy[2] (Jun 2024: 99.4%)

Total leasing[1] (Sep 2023: 118,100sqm)

Key highlights

• HoAs totaling 40,800sqm signed in 3Q 2024, including 31,700sqm at Truganina, VIC for a 5-year term

• Ability to capture income upside as leases expire with portfolio estimated to be at least 15% under-rented compared to market

• Activating development pipeline with earthworks and infrastructure underway at Yiribana East Logistics Estate in Western Sydney and 865 Boundary Road in Melbourne’s West

• Year to 30 September 2024, including HoA.

• Including HoA. 3. Vacant % by area. Lease expiry % by income. Including HoA.

==> picture [116 x 34] intentionally omitted <==

----- Start of picture text -----

5.3
years
----- End of picture text -----

WALE[2] (Jun 2024: 5.4 years)

Lease expiry profile[3]

==> picture [414 x 245] intentionally omitted <==

----- Start of picture text -----

15%
14%
3%
1%
1%
Vacant 4Q 2024 2025 2026 2027
----- End of picture text -----

| SEPTEMBER 2024 QUARTERLY UPDATE

5

Disclaimer

This Presentation ( Presentation ) has been prepared by The GPT Group comprising GPT RE Limited (ACN 107 426 504; AFSL 286511), as responsible entity of the General Property Trust, and GPT Management Holdings Limited (ACN 113 510 188) (together, GPT ). It has been prepared for the purpose of providing GPT’s investors with general information regarding GPT’s performance and plans for the future and risks. It is not intended to be and does not constitute an offer or a recommendation to acquire or sell any securities in The GPT Group.

The information provided in this Presentation is for general information only. It is not intended to be investment, legal or other advice and should not be relied upon as such. You should make your own assessment of, or obtain professional advice about, the information in this Presentation to determine whether it is appropriate for you.

You should note that past performance is not necessarily a guide to future performance. While every effort is made to provide accurate and complete information, The GPT Group does not represent or warrant that the information in this Presentation is free from errors or omissions, is complete or is suitable for your intended use. In particular, no representation or warranty is given as to the accuracy, likelihood of achievement or reasonableness of any forward-looking statements contained in this Presentation or the assumptions on which they are based.

==> picture [76 x 48] intentionally omitted <==

To the maximum extent permitted by law, The GPT Group, its related companies, officers, employees and agents will not be liable to you in any way for any loss, damage, cost or expense (whether direct or indirect) howsoever arising in connection with the contents of, or any errors or omissions in, this Presentation.

Information is stated as at 30 September 2024 unless otherwise indicated. Except as required by applicable laws or regulations, GPT does not undertake to publicly update or review any forward-looking statements, whether as a result of new information or future events or circumstances.

All values are expressed in Australian currency unless otherwise indicated. Some totals may not add up to 100% due to rounding.

Key statistics for the Retail, Office and Logistics divisions include The GPT Group’s weighted interest in the GPT Wholesale Shopping Centre Fund (GWSCF), the GPT Wholesale Office Fund (GWOF) and the GPT QuadReal Logistics Trust (GQLT) respectively.

Such material is, by its nature, subject to significant uncertainties and contingencies outside of GPT’s control. Actual results, circumstances and developments may differ materially from those expressed or implied in this Presentation.

| SEPTEMBER 2024 QUARTERLY UPDATE

6