Charter Hall Retail (CQR) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with quorum present, Acknowledgement of Country, and agenda outlined by Chair and CEO.

• Board members, executives, and auditors were introduced, with a focus on strategy to lead in convenience retail property and deliver top EPS growth.

Financial performance review

• Portfolio value post-transaction is $4.3bn, proforma $4.8bn including acquisitions, with 98.9% occupancy.

• Net operating earnings were $0.254 per unit; distribution per unit was $0.247, with a 97% payout ratio.

• Pro forma balance sheet gearing at 27.1% and NTA per unit increased 2.9% to $4.64.

• Like-for-like net property income grew 2.6% overall, with net lease retail up 3.1%.

• Security price rose ~20% over the past year, though still below NTA.

Dividend announcements

• Distribution per unit for FY 2025 was $0.247, in line with guidance.

• FY 2026 EPS guidance upgraded to $0.264 per unit, a 4% increase; distribution guidance for FY 2026 is not less than $0.255, up 3.3%.

• Distribution yield is 6.1%, with quarterly payments commencing Q1 FY26.