Shopping Centres Australasia Property : Results Half Year 31 December 2020 Investor Presentation

FIRST HALF FY21 RESULTS PRESENTATION

8 February 2021

Auburn Central, NSW

AGENDA

1. OVERVIEW OF FIRST HALF FY21 RESULTS
2. FINANCIAL PERFORMANCE
3. OPERATIONAL PERFORMANCE
4. GROWTH OPPORTUNITIES
5. KEY PRIORITIES AND OUTLOOK
6. QUESTIONS
7. APPENDICES

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OVERVIEW OF FIRST HALF FY21 RESULTS

Anthony Mellowes

Chief Executive Officer

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FIRST HALF FY21 HIGHLIGHTS

FINANCIAL

PERFORMANCE

Net Profit After Tax1

$102.9m, up by 14.1%

FFO per unit 2

6.72 cpu, down by 20.4%

(up by 8.2% vs 2H FY20)

Distribution per unit 2

5.70 cpu, down by 24.0%

(up by 14.0% vs 2H FY20)

CAPITAL

MANAGEMENT

Gearing 3

29.1%, up by 3.5%

NTA per unit 4

$2.25, up by 1.4%

Weighted cost of		Weighted average
debt 5		debt maturity 5
3.2% pa		6.2 yrs

ACTIVE PORTFOLIO

MANAGEMENT

Portfolio occupancy 6 Specialty vacancy 6

98.2% 4.8%

Portfolio weighted average cap rate 7

6.39%

Acquisitions 8

$178.9m

1. Net Profit After Tax is as per the Interim Financial Report, for the six months ended 31 December 2020 compared to the six months ended 31 December 2019
2. FFO per unit is a non-IFRS measure, for the six months ended 31 December 2020 compared to the six months ended 31 December 2019. Distribution of 5.70 cpu in respect of the six months ended 31 December 2020 was paid on 29 January 2021. "cpu" stands for Cents Per Unit
3. As at 31 December 2020, compared to 30 June 2020. Gearing is calculated as Finance debt, net of cash (with USD denominated debt recorded as the hedged AUD amount) divided by total tangible assets (net of cash and derivatives)
4. As at 31 December 2020, compared to 30 June 2020
5. As at 31 December 2020. The corresponding numbers as at 30 June 2020 were weighted cost of debt of 3.5% and weighted average debt maturity of 5.1 years
6. As at 31 December 2020. The corresponding numbers as at 30 June 2020 were portfolio occupancy of 98.2% and specialty vacancy of 5.1%
7. As at 31 December 2020. Weighted average capitalisation rate as at 30 June 2020 was 6.51%
8. During the period we acquired Auburn Central (New South Wales) for $129.5m, Bakewell Shopping Centre (Northern Territory) for $33.0m, Bakewell petrol station (Northern Territory) for $6.4m and vacant land adjacent to the Greenbank (Queensland) neighbourhood centre for $10.0m, excluding transaction costs.

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