Precinct Properties New Zealand : Annual Results Presentation 2022

Agenda

Precinct Properties New Zealand Limited

Scott Pritchard, CEO

George Crawford, Deputy CEO

Richard Hilder, CFO

Note: All $ are in NZD

PRECINCT PROPERTIES FY22 ANNUAL RESULTS - PAGE 2

Highlights

Strategic initiatives

• Established investment partnership with Singapore sovereign wealth fund
  GIC
• Partnership will initially acquire assets from Precinct's existing portfolio and expect to grow to around $1.0b

Financial performance

• Net operating income of $95.3m (FY21: $83.0m)
• Comprehensive income after tax of $108.8m (FY21: $179.9m)
• 6.51 cps AFFO equating to a payout ratio of 103% (FY21: 100%)
• 6.70 cps dividend (FY21: 6.50 cps)

Development pipeline

• 30 Waring Taylor Street successfully completed. Bowen Campus Stage 2 on track to complete during FY23
• Wynyard Quarter Stage 3 commenced and further Auckland and Wellington opportunities being advanced
• Potential to partner on development opportunities

Operational performance

• Portfolio occupancy of 99% with a WALT of 7.1 years
• Circa 34,600 sqm leasing completed in the period

PRECINCT PROPERTIES FY22 ANNUAL RESULTS - PAGE 3

Our people and partners

• Investment partnership with GIC secured
• Further direct investment opportunities being explored
• Staff retention and remuneration a priority in tight labour market

Operational excellence

• Location and quality driving significant demand for
  Precinct's portfolio
• Strong portfolio performance with 99% occupancy and 14% uplift in new contracted rentals
• Commitment to sustainable debt programme
• Industry leadership through WGBC Net Zero Carbon Buildings commitment

Developing the future

• Around $1b of developments underway
• 30 Waring Taylor Street completed with elevated occupancy
• Bowen Campus Stage 2 nearing completion in line with programme and budget
• Exploring further internal and external opportunities

Key Themes