GDI Property : Half year presentation

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PROPERTY GROUP

Half year results presentation

21 February 2022

Disclaimer

This presentation has been prepared and issued by GDI Property Group Limited (ACN 166 479 189) and GDI Funds Management Limited (ABN 34 107 354 003, AFSL Number 253 142) as responsible entity of GDI Property Trust (ARSN 166 598 161). Shares in GDI Property Group Limited are stapled to units in GDI Property Trust, which with their controlled entities, form GDI Property Group (ASX:GDI). This is not an offer of securities for subscription or sale and is not financial product advice.

Information in this presentation, including, without limitation, any forward-looking statements or opinions (the Information) may be subject to change without notice. To the extent permitted by
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law, GDI Property Group, GDI Property Group Limited, GDI Funds Management Limited and their officers, employees and advisers do not make any representation or warranty, express or
implied, as to the currency, accuracy, reliability or completeness of the Information and disclaim all responsibility and liability for it (including, without limitation, liability for negligence). Actual
results may differ materially from those predicted or implied by any forward-looking statements for a range of reasons outside the control of the relevant parties. You should note that returns
from all investments may fluctuate and that past performance is not necessarily a guide to future performance.
The Information in this presentation should not be considered to be comprehensive or to comprise all the information which a GDI Property Group security holder or potential investor may
require in order to determine whether to deal in GDI Property Group securities. Whilst every effort is made to provide accurate and completion information, GDI Property 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 forecasts, prospects or returns contained in the information - such material is, by its nature, subject to significant
uncertainties and contingencies. This presentation does not take into account the financial situation, investment objectives and particular needs of any particular person. Any prospective
investor or other security holder must satisfy itself by its own investigation and by undertaking all necessary searches and enquiries as to the accuracy and comprehensiveness of all Information
contained in this presentation.
The repayment and performance of an investment in GDI Property Group is not guaranteed by GDI Property Group Limited or GDI Funds Management Limited or any of their related bodies
corporate or any other person or organisation.
An investment in GDI Property Group is subject to investment risk, including possible delays in repayment, the loss of income and the loss of the amount invested.
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LINKING EQUITY TO PERFORMANCE

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First half snapshot

only		 $0.03 increase from 30 June 2021
NTA - $1.28 per security	 Valuation increases at Westralia Square (+$20.2 million)
		and 180 Hay Street (+$1.8 million)
use			 Profit on sale of 50 Cavill Avenue (+$7.8 million)
		Higher FFO than previous corresponding period
		FFO of 2.845 cents per security	notwithstanding the decretive impact of the sale of 50 Cavill
personal			Avenue
		Maintained distribution at prior year levels
		Distribution of 3.875 cents per security 	Intend to pay a further 3.875 cents per security for second
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	1. Subject to no material change in circumstances or unforeseen events and noting that we expect a proportion of any cash distribution for the second half will be paid out of capital.
LINKING EQUITY TO PERFORMANCE	2

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A great start to FY22 - Capital transactions

50 Cavill Ave, Surfers Paradise

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use	Purchased for $48.8 million in February 2016
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personal		$49.3 million after settlement adjustments,
	including acquisition costs
	54% occupied, no NABERs Energy rating

 Spent approximately $18.4 million, including incentives

 Sold in August 2021 for $113.5 million

 $109.0 million after settlement adjustments and selling costs

 97% occupied, 4.5 NABERs Energy rating

LINKING EQUITY TO PERFORMANCE

Perth CBD Carparks

301 - 311 Wellington Street, Perth

409 Murray Street, Perth

• Purchased two CBD carparks with a combined 1,440 spaces for $68.5 million in December 2021
• Purchased on an approximately 5% passing cash yield
• • Little ongoing capex or incentive requirements
  • Anticipate higher occupancy and revenues once Perth's CBD normalises following border reopenings and the inevitable Omicron wave
• Immediately identified some operational cost savings
• Significant component of the acquisition price is land value
• • Preparing development schemes for Wellington Street for anticipated market briefs during FY22

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A great start to FY22 - WS2

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personalWS2 Architectural drawings only

LINKING EQUITY TO PERFORMANCE

Progress

 Executed a fixed price contract prior to the significant cost escalations

 Notwithstanding some supply issues, remains on time and budget

• Perth's most environmentally friendly premium grade office building
• Approximately 9,500sqm of NLA constructed from a combination of steel and timber
• Total costs of $63.0 million includes approximately $10.0 million of precinct works to re-position Westralia Square to premium grade status
• Expected to complete in second half of CY22

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