GPT GROUP — Investor Presentation 2025

Feb 16, 2025

ASX Announcement

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17 February 2025

2024 Annual Result Presentation

The GPT Group (‘GPT’ or ‘Group’) provides its 2024 Annual Result Presentation.

-ENDS-

Authorised for release by The GPT Group Board.

For more information, please contact:

Investors Relations

Philip Cheetham Head of Investor Relations ir@gpt.com.au +61 403 839 155

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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

Experience First

Highpoint Shopping Centre, VIC.

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2024 Annual Result Market Briefing

1 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

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GPT acknowledges the Traditional Custodians of the lands on which our business operates.

We pay our respects to Elders past, present and emerging, and to their knowledge, leadership and connections.

We honour our responsibility for Country, culture and community in the places we create and how we do business.

Artwork created through collaboration of Cultural Grounding and Elaine Chambers Hegarty (Koa and Kuku Yalanji).

Agenda

	Agenda
	2024 Annual Result Overview and Strategy Update	Russell Proutt	3
	Investments	Mark Harrison	8
	Financials	Merran Edwards	12
	Retail	Chris Barnett	16
	Office	Matthew Brown	20
	Logistics	Chris Davis	24
	Outlook and 2025 Guidance	Russell Proutt	28

2 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

2024 Annual Result

Group performance

$616.3m Funds From Operations

$470.0m

Adjusted Funds From Operations $200.7m ( )

Statutory loss after tax

$1.1b Liquidity

32.2c Funds From Operations per security 24.0c

Distribution per security

$5.27

NTA per security

28.7%

Net gearing

Mana ement Platform - $34.1b AUM g

98.6% Occupancy 5.8% WACR 5.5% Investment Portfolio Yield2 4.0% Net Property Income growth (like for like) Investment Portfolio ($b) Balance Sheet Co-investments Retail 4.9 0.8 Office 3.6 1.2 Logistics 3.8 0.3 Living - - 12.3 2.3	$2.1b Incremental FUM (12 months to Dec 2024) 7.9% Funds Management Yield3 Funds Management($b)1 9.1 10.7 0.9 1.2 21.8

1. Includes value of GPT co-investments ($2.3b total) in GPT Wholesale Shopping Centre Fund (GWSCF), GPT Wholesale Office Fund (GWOF) and GPT QuadReal Logistics Trust (GQLT). Does not include transactions that are settling post 31 December 2024.

2. Calculated as weighted average of Balance Sheet Investment Portfolio Net Income yield and co-investment FFO equity yield for the 12 months to December 2024.

3. Comprises co-investment FFO and Funds Management EBIT (excludes other Management Operation earnings) for the 12 months to December 2024.

3 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

The GPT platform

We own and manage a very high quality and diversified portfolio with strong occupancy that underpins income security

We are well-positioned to continue to capitalise on positive economic trends and strong demand

Mana ement Platform $34.1b AUM[1] g

Investment Portfolio $14.6b

	Co-investments $2.3b GWOF 21.7% interest $1.2b GWSCF 28.5% interest $0.8b GQLT 50.1% interest $0.3b Retail $4.9b 99.8% Occupancy 5.4% WACR 5.8% Income yield Office $3.6b 94.7% Occupancy 6.3% WACR 5.5% Income yield Logistics $3.8b 99.5% Occupancy 5.6% WACR 5.1% Income yield Balance Sheet $12.3b

Funds Management - $21.8b[2]

Wholesale Funds Mandates Partnerships $11.5b $9.7b $0.6b GPT Wholesale Shopping GPT Wholesale UniSuper Centre Fund (GWSCF) Office Fund (GWOF) $3.5b $8.0b Australian Core Retail Trust (ACRT) GPT QuadReal Logistics 99.6% 95.3% QuadReal (QRSA) Trust (GQLT) $0.6b Occupancy Occupancy Commonwealth Superannuation 5.5% 6.24% WACR WACR Corporation (CSC)

1. Balance Sheet Occupancy, WACR and Yield includes look-through impact of co-investments.

2. Includes value of GPT co-investments ($2.3b total) in GWSCF, GWOF and GQLT. Does not include transactions that are settling post 31 December 2024. Note: Occupancy calculations include Heads of Agreement (HoA).

4 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

2024 achievements

The successful

implementation of our strategy will enhance return on capital, drive sustainable earnings growth and ultimately deliver long term value to securityholders

Build upon existing foundations Enduring value creation Diversified platform Aligned partnering Strategicpillars	2024 outcomes	2024 outcomes	2024 outcomes
	Retail $14.0bAUM 4.9% Total Specialty MAT growth +4.2% Leasing spreads Office $14.2bAUM 95% year-end Occupancy target achieved Logistics $4.6bAUM 15% rental upside 2024 outcomes
		Office $14.2bAUM 95% year-end Occupancy target achieved	Logistics $4.6bAUM 15% rental upside
	GWSCF Outperformance MSCI / Mercer Australia Core Wholesale Retail Fund Index over 1, 2, 3, 5, 7 and 10 years	Logistics development pipeline ~$3b estimated end value	Rouse Hill expansion underway ~$200m
	Ambition and strategy defined execution commenced	Leadership and capability build out of CIO division & reset of CFO divisional structure to supplement existing teams & execute strategy	Aligned incentive structure
	Perron strategic partnership ~$1b portfolio value GWSCF modernisation Fund investor approved and progressed UniSuper mandate logistics development $1b+ estimated end value	GWSCF modernisation Fund investor approved and progressed	UniSuper mandate logistics development $1b+ estimated end value

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Achieved

Ongoing

5 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Driving momentum for 2025

We will create new investment opportunities aligned with our capabilities and expertise and invest alongside our capital partners	Focus areas Source growth capital Platform performance Enhance active management
		Our plans • Leverage existing balance sheet portfolio as a catalyst for build out of funds management platform • Capital partnering to grow platform • Expansion of product development pipeline to grow and diversify funds under management • Active and targeted engagement with existing and prospective domestic and international investors to diversify and expand capital base
		• Drive financial outcomes, returns and enhance portfolio composition • Leverage our operational expertise to drive asset performance across our platform • Align capital allocation with our investment partners • Refine operating infrastructure to support scale and activity levels to underpin margin expansion
		• Expand market leading retail management platform, through partnerships and targeted development opportunities • Continue to build scale in logistics development through aligned partnerships • Refresh of office asset management strategies under new leadership, driving operational excellence

6 THE GPT GROUP - 2024 ANNUAL RESULT - PRESENTATION

Experience First

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100 Metroplex Place, Wacol, QLD.
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Investment

7 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Investment portfolio valuations

Rebasing of valuations across the Investment Portfolio, with majority of 2024 valuation decline biased to 1H 2024

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12 months to 31 Dec 2024 WACR Discount Rate Revaluation [1] Total Return [2]
Retail
$5.8b 5.44% 6.80% +$144.5m
Portfolio value +1 bps +3 bps +2.7%
Office
$4.8b 6.32% 7.13% -$894.9m
Portfolio value +83 bps +66 bps -16.8%
Logistics
$4.1b 5.60% 7.16% -$20.3m
Portfolio value +34 bps +32 bps -0.5%
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1. Revaluation movement includes development land.

2. Income Yield: Stabilised Balance Sheet Investment Portfolio Net Income yield and Co-investment FFO equity yield for the 12 months to December 2024.

3. Capital Return: Stabilised Balance Sheet Investment Portfolio revaluation movement (post capex) and Co-investment non-FFO (share of revaluation) movement.

8 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Illustrative AUM growth opportunity

Initially using balance sheet portfolio as a catalyst

Progressively reinvesting proceeds as co-investments

Maintaining a flexible investment approach to deployment across sectors and strategies

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1
Driven by new product >$85b
development and
AUM
additional third party
Redeployment of capital
net sale proceeds
Assumes 20% co-investment
on all new & expanded FUM
Progressive
conversion of
balance sheet assets
to FUM
$34.1b
AUM
$21.8b
$2.3b
$12.3b
31 December 2024
Balance sheet portfolio Co-investment Funds Under Management
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1. The figure above is for illustrative purposes only, it is not a forecast or financial target but demonstrates the potential aggregate and compositional AUM growth that is possible through the execution of our stated strategy.

9 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Our integrated sustainability approach

We are working to embed scalable sustainability solutions in our business which support our growth while driving environmental, social and financial outcomes

1 Ranked REIT in S&P Global Corporate Sustainability Assessment 2025 Yearbook Global Report

Strategicpriorities

Carbon Neutral

Optimise asset performance and enhance long term portfolio value

Future proof assets and provide innovative sustainability solutions for our investment partners

Social impact

Our Progress

2024 target achieved

100% GPT owned and managed assets certified carbon neutral as at December 2024

76%

89%

of Climate adaptation plans in place for GPT wholly owned and managed assets (by value)

of Office Investment Portfolio with minimum 5 star NABERS Energy rating[1]

$2.3b

11 MW

of Sustainable financing or Green debt across Management Platform

of Solar Arrays installed across Investment Portfolio (2023: 8MW, up 37%)

100%

93% GPT Foundation supported of 2023 Stretch of employees community partners Reconciliation participated in including the Action Plan volunteering, Property Industry commitments workplace giving & Foundation, Acts of Kindness progressed ReachOut & via GPT Foundation Australian Childhood Foundation

10 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

1. Does not include assets held for development or operationally controlled by the tenant.

Experience First

Highpoint Shopping Centre, VIC.

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Financials

11 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

2024 earnings drivers

Investment Portfolio & Management FFO composition

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Direct property investments 74.7%

Co-investment earnings 12.8%

Management operations 9.8%

Note: FFO contribution is calculated before finance costs, corporate expenses and tax. Management operations FFO includes funds management, operations and development management net income.

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Melbourne Central, VIC.

THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

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Segment result

• CY 2024 Investment Portfolio income in line with CY 2023, with retail portfolio income growth being offset by a decline in office portfolio income and co-investment earnings; headline logistics portfolio income growth impacted by divestments

• Management Operations uplift reflects a full year of new mandates, partially offset by lower fees from asset devaluations

• Trading profits of $24.2m associated with asset divestments

• Net finance cost increase from 30 basis points higher weighted average cost of debt offsetting lower average debt balance

	($m) Investment Portfolio	CY 2024	CY 2023	Change
	Retail Office	275.9 207.5	266.3 213.7	3.6% (2.9%)
	Logistics	187.5	186.9	0.3%
	Subtotal	670.9	666.9	0.6%
	Income from Funds	114.5	117.8	(2.8%)
	Total Investment Portfolio	785.4	784.7	0.1%
	Management
	Management Operations1	88.3	77.7	13.6%
	Trading profits	24.2	0.4	n/m
	Total Management	112.5	78.1	44.0%
	Total Investment Portfolio & Management FFO	897.9	862.8	4.1%
	Net Finance costs Corporate overhead Tax expense	(205.3) (56.1) (20.2)	(193.0) (58.2) (10.7)	6.4% (3.6%) 89.0%
	FFO	616.3	600.9	2.6%
	Maintenance and leasing capex	(146.3)	(112.9)	29.6%
	AFFO	470.0	488.0	(3.7%)
	Statutory loss for full year after tax	(200.7)	(240.0)	(16.4%)

1. Management Operations FFO includes the net contribution from funds management, property management and development management.

THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

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Strong financial position

• Strong balance sheet maintained with gearing at 28.7%, within the stated range of 25-35% and material headroom to 50% covenant

• 2.0x headroom to interest cover ratio covenant

• Liquidity of $1.1b with no unfunded capital commitments[1]

• Well-laddered maturity profile with duration of 5.1 years

• Credit ratings maintained (Moody’s: A-Stable, S&P: A2 Stable)

	($m) Assets	CY 2024	CY 2023	Change (%)
	Investment Property (incl. EAI) Other assets	14,620.7 1,009.1	15,410.5 869.3	(5.1%) 16.1%
	Total Assets	15,629.8	16,279.8	(4.0%)
	Liabilities Borrowings Other liabilities	4,839.3 680.8	4,796.3 717.3	0.9% (5.1%)
	Total Liabilities	5,520.1	5,513.6	0.1%
	Net Assets	10,109.7	10,766.2	(6.1%)
	NTA per unit	$5.27	$5.61	(6.1%)
	Net gearing2	28.7%	28.3%	+40bps
	Look through gearing Interest cover	31.2% 4.0x	30.7% 4.0x	+50bps -
	Weighted average cost of debt	5.0%	4.7%	+30bps

Debt maturity profile ($m)

Hedge profile[3]

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<br> Undrawn Bank Facilities Drawn debt % hedged
Drawn Bank Facilities Hedged rate
Medium Term Notes 1,968
77%
US Private Placements
1,437
CPI Bonds 61%
49%
844 814
304 3.6% 3.8% 4.0%
146
2025 2026 2027 2028 2029 2030+ 2025 2026 2027
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1. Liquidity of $1.2b including post balance date transactions (Perron partnership, Highpoint and Rouse Hill transactions).

2. Proforma net gearing of 30.3% including post balance date transactions (Perron partnership, Highpoint and Rouse Hill transactions). 3. Reflects hedging undertaken post balance-date.

THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

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Experience First

Highpoint Shopping Centre, VIC.

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Retail
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GPT Retail Management Platform

$14.0b

AUM

AUM Composition

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GPT $4.9b
GPT 28.5%
co-investment in GWSCF
GWSCF $3.5b
Mandates $5.5b
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17

Owned or managed assets

1.4m sqm GLA

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4,300+
Tenancies
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$11.8b Moving Annual Turnover (MAT)

235m

AUM geographic spread

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Brisbane 23%
Perth 10%
Sydney 30%
Melbourne 37%
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Annual Customer Visits

16 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Investment Portfolio performance

+4.9%

Like for like Net Property Income growth

Leasing & Occupancy metrics[1]

As at 31 December	2024	2023
Occupancy (by area, %)	99.8	99.8
WALE (by income, years)	4.0	3.9
Specialty occupancy cost (%)	15.8	16.1
Specialty MAT ($psm)	13,217	12,824
Total Centre MAT ($m)	3,643	3,482
Total Specialty deals completed	CY 2024	CY 2023
Total leasing (sqm)	81,400	109,100
Total deals	570	678
Average lease term (years)	5.1	5.2
Leasing Spreads (%)	4.2	5.3
Average annual fixed increase (%)	4.9	4.8
Holdovers as % of base rent	1.9	4.0

1. Managed weighted basis. Leasing (sqm) at 100% basis.

Sales growth 2024 vs 2023

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Total Centre
Total Specialty
6.2%
5.3%
4.8% 4.9% 4.9% 4.9%
4.4% 4.3%
3.6%
2.8%
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Total Centre	Total Centre
Total Specialty 4.8% 3.6% 4.9% 4.4% 4.3% 4.9% 2.8% 5.3% 6.2% 4.9%
	1Q 2024 2Q 2024 3Q 2024 4Q 2024 Full Year 2024
	Sales growth by category Dec 2024 MAT ($m) MAT growth 2024 vs 2023 (%) Total Centre 3,643 4.3 Total Specialty 2,374 4.9 Supermarket 579 4.2 Department Stores & DDS 441 2.4 Cinemas & Other Retail 248 2.7 Total Specialty by category Fashion 614 1.3 Technology 431 4.0 Dining 388 5.2 Health & Beauty 384 7.4 Leisure 188 7.5 Food Retail 121 9.6 General Retail 119 11.7 Jewellery 82 2.5 Homewares 35 3.8 Retail services 13 6.8

17 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Retail platform growth drivers

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• Portfolio retail sales momentum expected to continue during 2025

• Limited new supply into the market should support further rental growth and low vacancy levels

• Asset performance to benefit from leverage to expanded GPT Retail platform

• Belmont Forum, WA and Cockburn Gateway, WA, acquired in partnership with Perron Group in December 2024, and successfully onboarded in February 2025

• Deploy integrated development management capability to pursue targeted development opportunities and grow platform

• Rouse Hill Town Centre ~$200m re-development approved. Works to commence 1H 2025, and complete end 2026

• Melbourne Central Master planning underway

Rouse Hill Town Centre, NSW.

18 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Experience First

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Melbourne Central Tower, VIC.
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Office
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GPT Office Management Platform

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$14.2b
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AUM
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AUM Composition

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Mandates $2.7b
GPT $3.6b
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GPT 21.7%
co-investment in GWOF
GWOF $8.0b
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29

Owned or managed assets

1.2m sqm

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NLA
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640+
Tenant customers
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100%

Prime grade owned or managed assets[1]

97%

AUM geographic spread

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Brisbane 13%
Perth 2%
Sydney & ACT 41%
Melbourne 44%
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Brisbane 13%
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Owned and managed assets certified carbon neutral[2]

1. Excludes assets under or held for development.

2. GPT, GWOF and mandate operational office assets. Excludes assets under or held for development or under the operational control of the tenant.

20 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Investment Portfolio performance

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+1.9%
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Like for like Net Property Income growth

Leasing & Occupancy metrics[1]

As at 31 December	2024	2023
Occupancy (by area, %)	94.7	92.3
WALE (byincome,years)	5.0	4.7
Deals completed	CY 2024	CY 2023
Total leasing(sqm)	202,200	134,900
Total deals	147	145
Lease renewals (%)	54	50
Average lease term (years)	5.9	4.7
Leasing spreads (%)	4.8	5.5
Average gross incentive (%)	35	34

1. Managed weighted basis, including HoA. Leasing at 100% basis. CY 2023 metrics re-stated to reflect managed weighted basis. Previously reported numbers reflected GPT and GWOF ownership at 100%. 2. Vacant % by area.

Occupancy target achieved through concerted leasing effort with deals completed across 20% of total NLA

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Leasing volume (sqm)
Occupancy at 31 December
94.7%
92.3%
202,200 sqm
88.5% (147 deals)
134,900 sqm
(145 deals)
104,100 sqm
(127 deals)
2022 2023 2024
Lease expiry profile by income
Canberra
Brisbane
Sydney Metro & Parramatta 12% 12% 12%
Melbourne
Sydney CBD
5%
4%
Vacant² 2025 2026 2027 2028
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21 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Office platform growth drivers

• Continued return to office and stabilisation of hybrid work models, coupled with ongoing flight to quality, will drive further demand for high quality office space

• Current market conditions are anticipated to constrain the delivery of new CBD office supply across markets in the near term

• Recovery of investor appetite for Australian office is expected as leasing market improves and valuation metrics stabilise

• Strong focus on platform growth through capital partnerships and new investment product development

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Liberty Place, Sydney.

22 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Experience First

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2 Ironbark Close, Berrinba, QLD.
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Logistics
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GPT Logistics Management Platform

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$4.6b
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AUM

AUM Composition

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GPT $3.8b
GPT 50.1%
co-investment in GQLT
GQLT $0.6b
Mandates $0.3b
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69 Owned or managed assets

1.3m sqm

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GLA
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80+

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Tenants
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~$3b Development pipeline[1]

61%

Developed by GPT (by value)[2]

35%

AUM geographic spread[2]

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QLD 18%
WA 2%
NSW 46%
SA 2% VIC 32%
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Assets with Solar PV arrays installed[2]

1. Estimated end value on completion, AUM basis inclusive of capital partnerships and mandates. 2. AUM basis. Excludes assets under development.

24 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Investment Portfolio performance

+5.6%

Like for like Net Property Income growth

Leasing & Occupancy metrics[1]

As at 31 December	2024	2023
Occupancy(byarea, %)	99.5	99.5
WALE (byincome,years)	5.1	5.4

Deals completed	CY 2024	CY 2023
Total leasing (sqm)	103,800	168,000
Total deals	12	17
Leasing Spreads (%)	35	39

1. Managed weighted basis, including HoA. Leasing at 100% basis. 2. Vacant % by area.

2. High quality customer base, with >70% of income from ASX-listed and multi-national corporations

3. Ability to capture income upside, with the portfolio estimated to be >15% under-rented

Lease expiry profile by income

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15%
14%
10%
4%
0.5%
Vacant² 2025 2026 2027 2028
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25 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Logistics platform growth drivers

• Progressing milestones across ~$3b AUM development pipeline, with first two facilities at GQLT’s Western Sydney project due to complete in 2H 2025

• High quality, well located assets will benefit from occupiers looking to meet growing demand, optimise supply chains and achieve ESG aspirations

• GPT portfolio strategically located in dense urban areas to attract highest level of tenant demand, driving rents and high occupancy rates

• Active engagement with domestic and offshore capital, strong investor interest in Australian Logistics

• Leveraging Logistics platform to create new investment products to increase funds under management and deliver growth through development

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42 Cox Place, Glendenning, NSW.

26 THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

Experience First

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Melbourne Central, VIC.
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Outlook and 2025 Guidance

Outlook and 2025 guidance

Outlook

• Economic environment stabilised in 2024, and investment activity displayed signs of recovery, with increasing transaction volumes

• We believe this trend will continue into 2025 as the Australian market will screen attractively for investment

• Our premium quality, diversified portfolio with high occupancy, and a disciplined approach to capital management, positions the group well for sustainable and growing earnings, and a solid base from which to progress our strategy

Guidance

• Barring unforeseen circumstances, we expect to deliver 2025 FFO of between 32.5 and 33.1 cents per security, being 1 to 3% growth on pcp and a distribution of 24.0 cents per security

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1 Wattlebird Court, Berrinba, QLD.

THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

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Experience First

Highpoint Shopping Centre, VIC.

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Thank you for joining us Questions

Disclaimer

Authorised for release by The GPT Group Board

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. The information is in a summary form and is to be read in conjunction with GPT’s other announcements released to the Australian Securities Exchange (available at www.asx.com.au).

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. 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.

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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 31 December 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.

Funds from Operations ( FFO ) is reported in the Segment Note disclosures which are included in the financial report of The GPT Group for the 12 months ended 31 December 2024. FFO is a financial measure that represents The GPT Group’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 based on guidelines established by the Property Council of Australia.

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 and where applicable, assets under management of GPT owned by its external mandate clients.

THE GPT GROUP - 2024 ANNUAL RESULT PRESENTATION

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