Qualitas Real Estate Income Fund (QRI) investor relations material

Executive summary

• Operating profit for the half-year ended 31 December 2025 was $33.3 million, up 5.1% year-over-year, driven by improved portfolio performance and disciplined cost control.

• Net assets attributable to unitholders rose 33.7% to $1,009.7 million, primarily due to capital raised via a wholesale placement and entitlement offer.

• Total assets reached $1,017.9 million as of 31 December 2025, compared to $755.4 million a year earlier.

Financial highlights

• Total investment income increased 8.6% year-over-year to $41.9 million.

• Distributions for the half-year totaled $33.8 million (5.48 cents per unit), compared to $31.2 million (6.93 cents per unit) in the prior period.

• Net tangible assets per unit were $1.6002 at 31 December 2025, nearly unchanged from $1.6015 a year earlier.

• Earnings per unit were 5.42 cents, down from 7.07 cents in the prior year.

Outlook and guidance

• The Trust will continue to be managed according to its investment objectives and guidelines.

• Future results will depend on investment market performance, which is not guaranteed and may differ from past returns.