#1ot on the app Home Co Hawthom East Woducin Dan Murphy NACONDA PACIFIC H CLUBS Now Open ENTRY ples SP .com au Jr PLEA 832 coles.com.ou coles. coles online coles.com.au Pick up nb Home Co. Daily Needs REIT coles FY23 Results Presentation 17 August 2023#2Acknowledgement of Country HomeCo Daily Needs REIT acknowledges the Traditional Custodians of country throughout Australia and celebrates their diverse culture and connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. Home Co. Daily Needs REIT Journey Tracks to Sacred Sites Tony Sorby (2021) Ⓒ the artist courtesy Kate Owen Gallery#3Home Co. Daily Needs REIT S Agenda. 1 Results Overview 2 Portfolio Update 3 Growth Opportunities Woolworths 4 Financial Results 984 AVE Victoria Point (QLD) 5 Outlook & Guidance Sid Sharma HDN CEO Will McMicking HMC Capital Group CFO Paul Doherty Fund Portfolio Manager#4UW ONG THE Coles LIQUORLAND Tmax CHEMIST WAREHOUSE Home Co Braybrook Home Co. Daily Needs REIT ENTI SUNSHINE COLLECTABLES INE GR Ou SASHINE OLLECTABLES Braybrook (VIC) Results Overview#5FY23 Performance Successfully absorbed significant growth in debt costs with strong underlying rental growth FINANCIAL ASSET MANAGEMENT INVESTMENT Home Co. Daily Needs REIT 8.6 cpu FY23 FFO In line with guidance >99% OCCUPANCY In line with Jun-224 ~$443m ACCRETIVE CAPITAL RECYCLING5 $285m assets sold at combined 3% premium to book $1.48 NTA/Unit Strong rental growth partially offsetting cap rate movement¹ >99% RENT COLLECTION FY23 contracted rent >$80m ACTIVE DEVELOPMENTS ~7% target ROIC6 32.8% PROFORMA GEARING² Lower end of 30-40% target range $272m total available liquidity +3.8% COMP PROPERTY NOI GROWTH Consistent with FY23 guidance >$120m FY24 DEVELOPMENT COMMENCEMENTS ~7% target ROIC6 91.5% INTEREST RATE HEDGING Jun-233 +6.0% LEASING SPREADS Versus 5.7% at Jun-22 174 new leases and renewals with low incentives $600m+ FUTURE PIPELINE Upscaled from $500m >20 projects identified Notes: All FY23 metrics as at 30-Jun-23 include McGraths Hill and Menai Marketplace on an 100% basis and the disposal of Midland. 1. NTA includes the fair value of derivatives. 2. Gearing is defined as Borrowings (excluding unamortised debt establishment costs) less cash divided by Total Assets less Right of use assets and Cash and cash equivalents. Pro-forma adjusted for the disposal of Midland which is expected to settle in Sep-23. 3. Based on drawn debt as at Jun-23 and pre Midland sale. 4. By GLA and includes rental guarantees. 5. Represents acquisition of Southlands Boulevarde, the additional land parcel acquisition at Armstrong Creek and the $50m LML Fund commitment by HDN and disposals of Epping, Sunshine Coast and Midland (which is expected to settle in Sep-23). 6. Return on invested capital (ROIC) represents cash yield on cost once development is fully stabilised. Estimated ROIC is based on assumptions relating to future income, valuation, capex and calculated on a fully stabilised basis. 4#6Investment Strategy Owner and developer of strategic last mile infrastructure focused on daily needs & services Home Co. Daily Needs REIT MODEL PORTFOLIO STRONG INVESTMENT ACCRETIVE DEVELOPMENT CONSTRUCTION FUNDAMENTALS PIPELINE Portfolio Target -50% -30% Neighbourhood Large Format Retail Woolworths THE GOOD GUYS coles JB HI-FI Sp Paying To Hack CHEMIST WAREHOUSE Harvey Norman STRATEGIC REAL ESTATE INFRASTRUCTURE -20% Health & Services $357/sqm Average gross rent $600m+ Development pipeline ~13m people4 within 10km radius Service NSW +6.0% Leasing spreads¹ ~7% Target development ROIC³ >83m Annual customer visitation5 Guardian Childcare & Education ANACONDA ALDI cornerstone health SPOTLIGHT UNNINGS warehouse nickscali centrelink >99% Rent collection >83% National retailers² 2.5 million site area (sqm) -83% Metropolitan locations 4.8 year WALE² High exposure to defensive and noncyclical expenditure Low and sustainable rents at bottom of the landlord cost curve 37% Site coverage Underutilised landbank with attractive development ROIC -75% Tenants offer Click & Collect6 Powerful megatrends driving tenant & customer demand Notes: All FY23 metrics as at 30-Jun-23 include McGraths Hill and Menai Marketplace on an 100% basis and the disposal of Midland. 1. For new leases and renewals, includes Epping. 2. By gross income for signed leases and signed MoUs. 3. Return on Invested Capital (ROIC) represents estimated fully stabilized cash yield on cost. 4. Australian Bureau of Statistics. 5. Includes customer visitation for Epping. 6. Weighted by gross income. Excludes fuel 5 and services tenants.#7New Dawn SPOTLIGHT THE REJECT SHOP Pet City spudshed Fresh Food Market ENTRY Home Co Derbrook CHEMIST WAREHOUSE Cleop BUNNINGS SYDNEY TOOLS rehouse Home Co. Daily Needs REIT Ellenbrook (WA) 2. Portfolio Update#8Property portfolio summary $4.7bn portfolio diversified by subsector, tenant and geography Key portfolio metrics Portfolio value Landbank (sqm) Site coverage WACR1 Platform Overview Home Co. Daily Needs REIT Tenant mix² Rent composition² $4,677m ▪ Large Format 36% Retail 21% 2.5m sqm ■ Neighbourhood 16% 37% 48% ■ Health & Services 5.46% WALE² 4.8 years Occupancy4 >99% WARR Fixed 2,5 3.6% 3.9% WARR CP12,6 4.9% Tenants Average gross rent Outgoings recovery rate 9% Lease expiry profile²,3 ■ Fixed ■CPI 70% Supermarket Blended WARR of 3.9% across 91% of the portfolio -50% reduction in FY24 lease expiries by accelerating lease renewals in FY23 41% ~1,200 15% 13% 12% 13% $357/sqm 6% >60% FY24 FY25 FY26 FY27 FY28 FY29+ HDN's target Model Portfolio is designed to deliver stable and growing property income with low levels of correlation to traditional retail and property sectors Notes: All FY23 metrics (except for fair value) as at 30-Jun-23, include McGraths Hill and Menai Marketplace on an 100% basis ($57.0m and $175.0m with 25.3% and 50.1% owned by HDN respectively) and excluding ROU assets at Parafield and Caringbah ($11.0m), pro forma adjusted for the disposal of Midland. 1. Weighted Average Capitalisation Rate by gross income. 2. Weighted Average Lease Expiry by gross income for signed leases and MoUs. 3. Excludes McGraths Hill and Menai Marketplace. 4. By Gross Lettable Area (GLA) and includes rental guarantees. Excludes land parcels. 5. Weighted Average Rent Reviews on 70% Group tenants that are contracted under fixed escalation rental agreements. 6. Weighted Average Rent Reviews based on CPI-linked escalations set over FY23. 7. Includes both fixed and CPI escalations. Excludes Supermarket Turnover rent. 7#9Robust operational performance Resilient portfolio performance despite more subdued consumer confidence and expenditure 1 STRONG RENT Occupancy Cash collection >99% >99% for FY23 COLLECTION AND GROWTH for FY231 2 ROBUST TENANT DEMAND Leasing spreads³ +6.0% 174 new leases & renewals Incentives4 5.3% Low incentives 3 RESILIENT TENANT PERFORMANCE 4 FORTIFYING RENTAL BASE Comp Property NOI +3.8% vs 30-Jun-222 Home Co. Daily Needs REIT Leasing 104,000m² 31,960m² development leasing Foot Traffic Growth YoY Foot Traffic v Pre-Covid Tenant MAT growth >9% >20% +4.9% Comp growth vs FY22 Comp growth vs FY20 vs 30-Jun-225 Continued focus on remixing tenant base to increase exposure to more defensive daily needs focused retailers and maintaining high exposure to national operators ~3% of tenants were recycled into non-discretionary and stronger covenant retailers in FY23 Accelerated FY24 leasing to address upcoming expiries ahead of expected slowdown in consumer spending Approximately 50% of FY24 expiring income has been leased - Notes: All FY23 metrics (except for fair value) as at 30-Jun-23, include McGraths Hill and Menai Marketplace on an 100% basis ($57.0m and $175.0m with 25.3% and 50.1% owned by HDN respectively) and excluding ROU assets at Parafield and Caringbah ($11.0m), pro forma adjusted for the disposal of Midland. 1. By GLA and includes rental guarantees. Excludes land parcels. 2. Relates to like for like centres. 3. For new leases and renewals, includes Epping. 4. As a percentage of gross rent over lease term. 5. Relates to tenants trading for more than +24 months. Moving Annual Turnover for the year ended 30-Jun-23 versus Moving Annual Turnover for the year ended 30-Jun-22. 6. By income. 8#10Highly defensive and diversified income streams High quality and diversified portfolio delivering secure and growing cash flow $357 Avg. rent/sqm >83% National retailers1 Top 10 tenants - by gross income¹ 4.4% Woolworths >> 4.1% coles 3.8% BUNNINGS warehouse 2.2% THE GOOD GUYS Home Co. Daily Needs REIT 3.9% 70% 21% WARR² Fixed CPI 9% Supermarket³ Portfolio subsectors - gross income split and key tenants¹ Woolworths CHEMIST WAREHOUSE UNNINGS warehouse Officeworks Neigh- bourhood coles LIQUORLAND oporto KFC III 36% WOOD BWS PETBARN ALDI Dan Murphy's GUZMAN Y GOMEZ 2.0% JB HI-FI 1.9% Harvey Norman 25% 1.9% FREEDOM of gross income from top 10 tenants Large Format Retail 48% DOMAYNE JB HI-FI Harvey Norman SUPERCHEAP AUTO Beacon rebel nickscali ANACONDA adairs THE GOOD GUYS 1.7% ANACONDA 1.7% nickscali Goodlife. FURNITURE Health & Services 16% Amart Furniture FREEDOM Snooze HEALTH CLUBS RSPCA** Fantastic Furniture Forty Winks Guardian Childcare & Education SPOTLIGHT COCO REPUBLIC* BCF BOATING CAMPING FISHING centrelink 1.4% BCF BOATING CAMPING FISHING myhealth Service NSW Doctors&Co. Notes: All FY23 metrics (except for fair value) as at 30-Jun-23, include McGraths Hill and Menai Marketplace on an 100% basis ($57.0m and $175.0m with 25.3% and 50.1% owned by HDN respectively) and excluding ROU assets at Parafield and Caringbah ($11.0m), pro forma adjusted for the disposal of Midland. 1. By gross income for signed leases and MOUS. 2. Weighted Average Rent Reviews for tenants contracted under fixed escalation rental agreements is 3.6%. Weighted Average Rent Reviews based on CPI-linked escalations set over FY23 is 4.9% 3. Excludes Supermarkets that have fixed or CPI reviews. 9#11Sustainability FY23 Achievements Implementing HMC Capital's Sustainability Commitments across the HDN portfolio Our inaugural Sustainability Report details six sustainability commitments towards "Creating Healthy Communities" Environmental Social Home Co. Daily Needs REIT Governance HEALTHY COMMUNITIES ... Green Future Connection ENVIRONMENTAL IMPACT Climate Action SUSTAINABILITY COMMITMENTS HEALTHY COMMUNITIES SOCIAL IMPACT Alignment Accountability STRONG GOVERNANCE HEALTHY COMMUNITIES Respect Our impact themes are aligned with several UN SDGs and their relevant targets or indicators CLEAN PASIR REDUCED 7AFOLAND STOR 3 GOOD HEALTH AQUALITY AND WELL-BEING 4 CAUCATION 10 THEATRES AND SANITATION CLEAN ENERGY AND INFRASTIILICTURE 11SAMABLES AND COMMUNITIES RESPONSIBLE 12 CONSUMPTION AND PRODUCTI со W 13 CATE GENDER ACTION EQUALIT ⑪+ DEGENT WORK AND ECONOMIC GROWTH M 16 PAGE, SIGE AND STRANU INSTITUTIONS On track with Net Zero Energy Roadmap Achieved 15% group wide reduction in scope 1 and 2 carbon emissions¹ Solar PV now active in 10 sites, with an additional 5 sites under installation Installed EMS at 27 sites, resulting in a 23%2 reduction in energy consumption South Nowra & Mackay developments targeting 4 Star Green Star rating Portfolio average of 3.8 Star NABERS Energy rating and 5.1 Star NABERS Water rating Green Star performance ratings 50% gender diversity achieved organisation-wide Progressed Reconciliation Action Plan to "Reflect" stage Nil employee Lost-Time Injuries achieved in FY23 Sustainability Committee Formed with quarterly meetings scheduled Aligned Community partnership program committed Supported Lismore community post-flood during the rebuild and relaunch of our town centre. Celebrated opening with Family Community Day. Awarded 2023 ESG Regional Top-Rated company with Morningstar Sustainalytics Member of ANREV and GBCA Responsible investment standards adopted for all acquisitions ESG KPIs established for leadership team Inaugural Modern Slavery Statement lodged Second GRESB rating submission filed GRI Reporting Framework standards adopted RECONCILIATION AUSTRALIA Notes: 1. HMC Capital managed assets where the tenant is responsible for electricity consumption are excluded from the dataset and based on FY21 baseline. 2. Based on sites installed for more than 3 months. WOIM SUSTAINALYTICS ESG REGIONAL 2023 TOP RATED FY23 Achievements 10#12Sustainability progress Energy roadmap Net Zero Progress Baseline Formed FY22 FY23 Home Co. Daily Needs REIT Advancing towards a green, low carbon economy & Net Zero by 2028 Solar Baseline Formed EV Charging Rollout 5 Sites have EV chargers installed GRESB First HDN lodgement complete EMS Rollout Commenced Green Star Performance / NABERS Commenced HDN portfolio ratings Solar Solar PV active in 10 sites, with an additional 5 sites under installation Acquisitions ESG Due Diligence process included in all potential acquisitions Green Lease Clauses Included in all new HDN leases EMS Rollout Active in 27 sites and roll out plan progressing for remaining sites Development South Nowra and Mackay targeting 4 Star Green Star Rating GRESB Public Disclosure of HDN portfolio performance Solar FY24 30% of portfolio to have solar installed¹ EV Charger Rollout All suitable sites to have EV charging stations LED Lighting 100% LED Lighting in common areas within suitable sites GRESB/TCFD Ongoing reporting and engagement Net Zero Target 50% Reduction Solar FY25 65% of portfolio to have solar installed1 GRESB/TCFD Ongoing improvement Solar FY26 100% of feasible sites installed Off-Site Renewables Pilot in place FY27 Off-Site Renewables Rollout in place FY28 Net Zero target achieved COMPLETED Notes 1. % of feasible solar sites UNDERWAY PLANNING 11#13rel RSE SPORT IS CALLING NOWEA ANACONDA Home Co. . • CAMPING HIKING BIKE FISHING KAYAK 4WD • • SAFE South Nowra ENTER AND A SUPI BIGGEST BRANDS LOWEST PRICES Home Co. Daily Needs REIT South Nowra (NSW) 3. Growth Opportunities#14Development track record Significant value unlocked since IPO >$160m Capex committed since IPO in Nov-20 Home Co. Daily Needs REIT >9% Average ROIC1 16 projects Completed since IPO in Nov-20 Daily Needs Large Format Retail Tmax rebel ANACONDA RSEA JBHHFI SYDNEY TOOLS Health & services Gregory Hills (NSW) 3 projects completed 27,895sqm of GLA repurposed / added South Nowra (NSW) 10 projects completed 28,118sqm of GLA repurposed / added Aurrum Kids Penrith (NSW) 3 projects completed 4,747sqm of GLA repurposed / added Woolworths coles DUNNINGS warehouse ANACONDA SYDNEY TOOLS JB HI-FI BCF Service NSW ALDI BOATING CAMPING FISHING centrelink aurrum kids Childcare & Preschool HMC Capital has successfully delivered over 50 projects spanning >500k sqm of GLA since acquiring the ex-Masters portfolio in 2017 Notes: 1. Return on invested capital (ROIC) represents cash yield on cost once development is fully stabilised. Estimated ROIC is based on assumptions relating to future income, valuation, capex and calculated on a fully stabilised basis 13#15Home Co. Daily Needs HDN development pipeline overview REIT $600m value accretive development pipeline capitalising on low portfolio site coverage of 37% 自 HDN Development pipeline evolution Pipeline continues to offer compelling risk adjusted returns Accelerating remixing towards more defensive daily needs tenants Tenant demand led development projects $82m WORK IN PROGRESS ACROSS 5 PROJECTS Glenmore Park (NSW) Mackay (QLD) ✓ Cranbourne (VIC) Gregory Hills Home (NSW) Marsden Park (NSW) ~$100m >$600m >$500m FY21 FY22 FY23 $600m+ INVESTMENT OPPORTUNITIES $125m+ MINOR PROJECTS coles ~$520m+ ACTIVE PLANNING ACROSS 22 PROJECTS $395m+ MAJOR PROJECTS Armstrong Creek (VIC) Tuggerah (NSW) Victoria Point (QLD) 14#16FY23 development commencements >$80m of accretive developments on track to open in FY24 and deliver ~7% ROIC1 Major Projects 1. South Nowra (NSW) ☐ >11,000sqm repurposing of ex-Masters site and introduction of leading national leisure & lifestyle retailers Opened in May-23 on time and on budget Home Co. Daily Needs REIT Leasing pre- commitments² Under Construction Completion Indicative capex Cost to complete 100% Complete May-23 2. Glenmore Park (NSW) " Centre expansion through addition of new health and services precinct 100% 2H FY24 3. Mackay (QLD) First stage of multi-stage lifestyle expansion 100% 2H FY24 opportunity on excess land 4. Cranbourne (VIC) Centre expansion through construction of additional daily needs GLA 100% 1H FY24 5. Gregory Hills Home (VIC) 100% 2H FY24 ☐ Construction of new pad site Total 100% >$80m ~$59m Notes: 1. Return on invested capital (ROIC) represents cash yield on cost once development is fully stabilised. Estimated ROIC is based on assumptions relating to future income, valuation, capex and calculated on a fully stabilised basis. 2. Leasing pre-commitments (% GLA) is the sum of signed Leases, signed MoUs and issued MoUs. 15#17Successful completion of HomeCo South Nowra Tenant demand led strategy resulting in leading Leisure & Lifestyle precinct High quality Tenant covenant >8% ROIC1 100% Pre-committed² Tkmaxx W rebel ANACONDA Home Ca RSEA CAMPING HIKING BIKE-FISHING KAVAK 4WD SAFETY ENTERTAINMENT AND APPLIANCE SUPERSTORE JB HI-FI CHOME BIGGEST BRANDS LOWEST PRICES JB HI-FI FIL Home Co. Daily Needs REIT 4 star Green Star building rating³ ELLE SYDNEY TOOLS سليلي Notes: 1. Return on invested capital (ROIC) represents cash yield on cost once development is fully stabilised. Estimated ROIC is based on assumptions relating to future income, valuation, capex and calculated on a fully stabilised basis. 2. Leasing pre-commitments (% GLA) is the sum of signed Leases, signed MoUs and issued MoUs. 3. Targeted green start building rating. 16#18Glenmore Park & Mackay development progress 100% pre-committed tenant demand-led development strategies Glenmore Park, NSW Mackay, QLD 4 level Health & Services precinct anchored by Service NSW Construction of additional leisure & lifestyle precinct Home Co. Daily Needs REIT $22m capex 2,400sqm additional GLA 100% pre-committed $34m capex ~8,000sqm additional GLA 100% pre-committed Miscall 17#19FY24 development opportunities ~$120m of development projects planned for commencement in FY24 at ~7% target ROIC1 Project Development Opportunities Description Home Co. Daily Needs REIT GLA (sqm) Cranbourne (VIC) Leisure & lifestyle repurpose opportunity Marsden Park (NSW) Centre expansion opportunity DA APPROVED Toowoomba (QLD) Childcare Centre development opportunity ~35,000sqm Tuggerah (NSW) Leisure & lifestyle precinct expansion on excess land Vincentia (NSW) Multi-stage expansion opportunity Project Description Armstrong Creek (VIC) Town Centre development Belrose (NSW) Centre expansion opportunity IN PLANNING Caringbah (NSW) Castle Hill (NSW) Remix to include medical & childcare Centre expansion opportunity Marsden Park (QLD) Centre expansion opportunity Victoria Point (QLD) Daily Needs expansion opportunity HDN has multiple projects which could commence in FY24 to achieve ~$120m of planned commencements GLA (sqm) ~34,000sqm Notes: 1. Return on Invested Capital (ROIC) represents cash yield on cost. Estimated ROIC is based on assumptions relating to future income, valuation, capex and is calculated on a fully stabilised basis. 18#20Home Co. Daily Needs REIT HomeCo 中午比巷 Woolworths Vincentia (NSW) 4. Financial Results#21Home Co. Daily Needs Earnings summary REIT FY23 FFO of 8.6 cents per unit (in line with guidance) representing 12% CAGR since inception $ million FY22 FY23 141.6 261.3 Property NOI Distribution from equity-accounted investees 0.3 1.1 Investment management fees¹ (13.7) (27.9) Other corporate expenses (2.6) (3.4) EBITDA Net interest expense FFO 125.6 231.1 (20.0) (54.0) Property NOI grew to $261m in FY23, which was driven by the full year impact of the Aventus merger which completed in Mar-22 Strong underlying property revenue growth in FY23 offset higher property and interest expenses HDN recorded FY23 FFO of $177.1m or 8.6 cents per unit, with the latter representing 12% CAGR since inception 105.6 177.1 Historical FFO & Distribution (cpu) Units on issue (wtd avg) (m) 1,193.8 2,070.7 Growth since inception²: +12% FFO CAGR +9% DPU CAGR FFO per unit (cents) 8.9 8.6 8.9 8.6 8.3 8.3 Distributions per unit (cents) 8.3 8.3 6.8 7.0 FY21 FY22 ■FFO Distribution FY23 Notes: Numbers may not total due to rounding. 1. Investment management and property management fees are disclosed on a gross basis. 2. FY21 FFO of 4.1cpu and distribution of 4.2cpu annualised for full year given IPO date of 23-Nov-20. 20 20#22Home Co. Daily Needs Balance sheet REIT Resilient portfolio valuation provides platform for continued asset recycling and organic growth $ million Jun-22 Jun-23 Cash and cash equivalents 23.2 16.2 ■ Assets held for sale 14.1 15.8 Investment property1 4,739.9 4,659.0 ■ Investment in associates 7.6 57.8 Other 71.4 76.6 ☐ Total assets 4,856.2 4,825.4 Borrowings (1,590.0) (1,632.2) Lease liability (11.5) (11.3) Other (117.0) (105.8) Total liabilities (1,718.5) (1,749.3) Net assets 3,137.7 3,076.1 Gearing² 32.7% 33.8% Units on issue (m) 2,067.7 2,074.4 NTA per unit ($)³ 1.52 1.48 HDN has a robust balance sheet at Jun-23 with net assets of $3.1bn and gearing of 33.8% Jun-23 NTA was $1.48 per unit, recording a modest 3% reduction vs Jun-22 due to an increase in portfolio cap. rate from 5.3% to 5.5% Resilient property portfolio has enabled active asset recycling with the divestment of non-core properties Sunshine and Epping in FY23 at a premium to book value and the acquisition of Southlands and HDN's investment in the Last Mile Logistics fund (investment in associates) HDN will continue to leverage its balance sheet to undertake asset recycling and fund organic growth through its development pipeline (evidenced by the post Jun-23 contracted sale of Midland LFR centre, WA) Notes: Numbers may not total due to rounding. 1. Includes right of use asset of $11.0m (FY22 11.5m). 2. Gearing is defined as Borrowings (excluding unamortised debt establishment costs) less Cash and cash equivalents divided by Total Assets less Right of use assets and Cash and cash equivalents. 3. NTA includes the fair value of derivatives. 21#23Capital management Strong liquidity of $197m and 92% hedged debt $ million Jun-22 Jun-23 Debt summary Facility limit (bank debt) 1,820.0 1,820.0 Drawn debt 1,600.5 1,639.11 Weighted avg. tenor (years)² 3.0 2.2 Home Co. Daily Needs REIT Jun-23 gearing of 33.8% is at the lower end of the target gearing range of 30-40% and adjusted for the post Jun-23 contracted sale of Midland, WA reduces by 1.0% to 32.8% Hedged debt increased to 92% following a restructure in 4Q FY23 (no net cash cost) which provides strong interest rate protection in FY24 and FY25 Liquidity Senior facility undrawn 219.5 180.9 Cash at bank 23.2 16.2 Interest hedge book Total liquidity 242.7 197.1 $1,500m 3.21% $1,475m $1,425m 2.80% 2.72% $275m $275m $750m Key debt metrics 2.11% $750m Gearing³ 32.7% 33.8% $750m $550m Interest coverage ratio 6.6x 4.2x (covenant: ICR not less than 2.0x) $275m $750m $450m % of debt hedged 67.2% 91.5% $400m $275m Hedged debt tenor (years) 2.8 2.4 30-Jun-23 30-Jun-24 30-Jun-25 30-Jun-26 Weighted avg. debt cost (% p.a.)4 2.5% 3.9% Interest Rate Caps notional Average Rate (LHS) 5 Notes: Numbers may not total due to rounding. 1. Based on Jun-23 drawn debt. 2. Based on drawn debt only. 3. Gearing is defined as Borrowings (excluding unamortised debt establishment costs) less Cash and cash equivalents divided by Total Assets less Right of use assets and Cash and cash equivalents. 4. Includes undrawn line fees. 5. Represents the weighted-average rate of the interest hedge book. Interest Rate Swaps (IRS) notional Forward start IRS notional 22#24Home Co. Daily Needs REIT Victoria Point (QLD) 5. Outlook & Guidance#25FY24 Outlook and guidance Strong top-line revenue growth continues to offset rising expenses UNDERLYING GROWTH " OFFSETTING COST INFLATION FY24 OUTLOOK FY24 GUIDANCE Strong top-line revenue growth offsetting headwinds from rising interest rates, property expenses & statutory charges Target comparable NOI growth of 4.0% in FY241 8.6 cents FY24 FFO/unit³ (8.6 cpu FY23A) ROBUST BALANCE SHEET VALUE ADD DEVELOPMENT PIPELINE HDN will continue to actively recycle capital to fund organic growth and portfolio re-weighting, including the announced divestment of Midland LFR centre, WA Interest rate risk mitigated in FY24 with 92% of Jun-23 drawn debt hedged HDN's 2.5 million sqm land bank provides compelling long-term upside Target >$120m FY24 commencements at -7% target ROIC² Target>$80m developments on track to complete in FY24 8.3 cents FY24 DPU (8.3 cpu FY23A) Committed to maintaining a strong balance sheet through active capital recycling Home Co. Daily Needs REIT Notes: Outlook statements have been made barring any unforeseen circumstances. 1. Comparable NOI growth across stabilised assets only. 2. Return on Invested Capital (ROIC) represents cash yield on cost. Estimated ROIC is based on assumptions relating to future income, valuation, capex and is calculated on a fully stabilised basis. 3. Based on average BBSY of 4.5% over FY24. 24#26每 Woolworths.co Home Co. Daily Needs REIT Prestons (NSW) 6. Supplementary Information#27Home Co. Daily Needs National portfolio REIT Critical last mile infrastructure supporting omni-channel retailing and fulfilment across Australia -20% 53 Properties1 Total portfolio NT QLD: $0.9bn Properties¹ 12 Greater Brisbane 18% Portfolio value $4.7bn QLD Tenants >1,200 12 WA 47% NSW: $2.2bn SA 5% Properties 22 22 2 NSW Greater Sydney 35% WA: $0.2bn 22 Properties Greater Perth 4 5% 4% VIC 13 SA: $0.2bn Properties 2 Greater Adelaide 4% 24% VIC: $1.1bn Properties1 13 TAS Greater Melbourne 21% HDN has a leading strategic network of sites located across metropolitan growth corridors Notes: All FY23 metrics (except for fair value) as at 30-Jun-23, include McGraths Hill and Menai Marketplace on an 100% basis ($57.0m and $175.0m with 25.3% and 50.1% owned by HDN respectively) and excluding ROU assets at Parafield and Caringbah ($11.0m). 1. Richlands land parcels (108 Pine Road & 159-177 Progress Road) and Armstrong Creek Pad site and land parcel (Lot C) are consolidated into the adjacent head property. 26#28Track record Portfolio delivering resilient and growing income streams which are noncyclical OCCUPANCY1 Underpinned by exposure to predominantly national tenant base, metropolitan locations and focus on essential retail and services CASH RENT COLLECTION Consistently collecting 99% of rental income 99% 99% 99% 99% 99% 99% 99% 99% 99% 99% 99% 99% Home Co. Daily Needs REIT RE-LEASING SPREADS Strong rental reversion as tenants recognise the value of HDN's strategic last mile real estate 4.4% 4.9% 6.0% 5.9% 5.7% 1H212 FY21 1H22 FY22 1H23 FY23 1H21 FY21 1H22 FY22 1H23 FY23 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Resilient property valuations supported by sustainable and growing rental income Notes: All FY23 metrics (except for fair value) as at 30-Jun-23, include McGraths Hill and Menai Marketplace on an 100% basis ($57.0m and $175.0m with 25.3% and 50.1% owned by HDN respectively) and excluding ROU assets at Parafield and Caringbah ($11.0m), pro forma adjusted for the disposal of Midland. 1. By GLA and includes rental guarantees. 2. For the period from IPO to Dec-20. 27#29Home Co. Daily Needs REIT HDN Owns Strategic Last Mile Infrastructure Strategic footprint spanning 2.5m sqm in Australia's leading metropolitan markets & growth corridors Rosenthal Woodlea Greater Melbourne Murrindindi South Morang Melbourne CBD Braybrook Box Hill Baw Morandini Hawthorn East Keysborough Pakenham Port Phillip Cranbourne Geelong CBD Peninsula Mornington Armstrong Creek Bass Strait South Gippsland Blue Mountains National Park Greater Brisbane & Gold Coast Greater Sydney Woy Woy McGraths Hill (APS1) Penrith Marsden Park Glenmore Park Prestons Gregory Hills Home Nattai National Park Castle Hill Bunnings Seven Hills. Belrose Somerset North Lakes. Coral Sea Sunshine Coast Moreton Bay Brisbane CBD Parramatta CBD Tingalpa Sydney CBD Jindalee Bankstown Lockyer Valley Victoria Point Richlands Logan Marsden Park Gregory Hills Town Centre Caringbah Coomera City Menai Marketplace South Pacific Upper Coomera Gold Coast CBD Bundall $1.0bn Total value 21% of total portfolio $1.7bn I Total value Ocean 35% of total portfolio $0.8bn 18% Total value of total portfolio I Significant portfolio weighting 83% to national metropolitan markets and critical last mile infrastructure real estate Notes: All FY23 metrics (except for fair value) as at 30-Jun-23, include McGraths Hill and Menai Marketplace on an 100% basis ($57.0m and $175.0m with 25.3% and 50.1% owned by HDN respectively) and excluding ROU assets at Parafield and Caringbah ($11.0m). 28#30Capital recycling $443m proactive asset recycling in FY23 into accretive daily needs acquisitions with repositioning and development upside DISPOSALS ACQUISITIONS RUG nickscali S SHERIDAN OUTLET Bea CREAPEST Home Co. Daily Needs REIT Midland (WA) Settlement expected in Sep-23 $285m of lower yielding LFR assets disposed of at combined ~3% premium to book value Sunshine Coast (QLD) Epping (VIC) Settled in Sep-22 Sale price of $140.0m Final settlement expected in Sep-23 Sale price of $70.3m representing a passing yield of 4.68% Sale price of $74.8m Southlands Boulevarde Menai Marketplace Southlands Boulevard (WA) " Triple supermarket anchored centre with development upside Acquisition price of $92.5m, representing a fully-let yield of ~8% Immediately FFO accretive Settled in Feb-23 Last Mile Logistics (LML) Fund $50m¹ strategic investment in complementary unlisted fund Menai Marketplace acquisition price of $150m subsequently revalued to $175m (Settled in Feb-23) Significant future acquisition pipeline for HDN via ROFO ~$158m re- invested into higher yielding neighbourhood assets² ✓ Re-weighting to target Model Portfolio ✓ FFO accretive Notes: 1. Represents the $50m LML Fund commitment by HDN. 2. Includes additional land parcel acquisition at Armstrong Creek. ✓ Reduced gearing 29 29#31Investment in HMC Capital's Last Mile Logistics (LML) Fund Strategic investment in complementary strategy that provides future growth optionality Home Co. Daily Needs REIT Woolworths Overview STRATEGIC INVESTMENT $50m HDN equity investment ACQUISITION PIPELINEtenai Marketplace Potential to create a significant future acquisition pipeline once assets have been repositioned in the LML Fund COMPLEMENTARY INVESTMENT MANDATE The LML Fund will not acquire assets that fall under HDN's investment mandate without HDN being offered the opportunity first Complementary mandates Two distinct investment mandates & risk profiles HDN predominately targets stabilised, not transition, assets HDN has no sub-regional, DDS or DS exposure HomeCo Daily Needs REIT Last Mile Logistics Fund Subsectors Subregional * Neighbourhood Stabilised Transition Large Format Retail Stabilised Transition Mixed Use * Vacant Land Exposure Supermarkets Health & wellness Services ✓ ✓ Bulky Goods ✓ Homewares ✓ ✓ HMCapital Last Mile Logistics Fund I Core plus unlisted fund Targeting core plus transition assets with upside via repositioning into essential last mile real estate infrastructure ROFO Food Retail Food Catering Leisure ✓ ✓ ✓ Department Stores x $400m Total equity raised 10% + Targeted levered returns HDN will have a ROFO1 to acquire assets in the future from the LML Fund Discount Department Stores Cinemas * ✓ ✓ Apparel Jewellery ✓ Notes: 1. Right of First Offer. 30#32Last Mile Fulfilment Our strategically located infrastructure is supporting a high proportion of our tenants with their store-based fulfilment strategies for both online and in-store sales The Omni-channel Model Daily Needs assets Value of the Omni-channel Model Home Co. Daily Needs REIT 1 Physical store networks complement retailers' online presence 2 Seamless customer experience and convenience Home Delivery 3 Faster customer delivery times and lower shipping costs Consumer Key Omni-channel Retailers Drives higher customer engagement, retention and loyalty Attractive HDN portfolio attributes for omni-channel coles BUNNINGS warehouse Woolworths Harvey Norman ANACONDA THE GOOD GUYS rebel LIQUORLAND Australia Post Officeworks amazon IKEA T TESLA JB HI-FI -83% metro located -75% of tenants have 92% located on click & collect¹ Eastern Seaboard SPOTLIGHT ~13m people within 10km radius² >83m 1.9% population growth³ (vs. 1.5% national avg.) Annual customer visitation Enhanced value proposition of omni-channel retailing has led to a growing number of partners requiring the supporting infrastructure Notes: 1. Weighted by gross income. Excludes fuel and services tenants. 2. Australian Bureau of Statistics, 2016. 3. Australian Bureau of Statistics, 2021 - 2026. 31#33Additional financial information Statutory profit to FFO reconciliation Home Co. Daily Needs REIT Portfolio value to balance sheet reconciliation $ million FY22 FY23 $ million Jun-23 Total revenue 198.3 347.3 Portfolio valuation 4,677 Share of profit of equity-accounted investees 0.4 9.1 Midland book value 73 Other income 3.7 Right of use asset 11 Property expenses1 (46.1) (79.8) Equity-accounted investments Investment management fees¹ (16.3) (27.9) Balance sheet valuation (102) 4,659 Other corporate expenses (2.6) (3.4) Operating EBITDA 133.7 249.0 Fair value movement (net) 225.3 (86.9) Transaction costs (0.5) (1.8) EBITDA 358.5 160.3 Net interest expense (23.4) (58.1) 335.1 102.2 Statutory Profit/(Loss) Add: Straight lining and amortisation 6.1 (1.8) Fair Value movement (225.3) 86.9 Transaction costs 0.5 1.8 Rent Guarantee Income 2.0 0.1 Share of profits of equity accounted investees (0.4) (9.1) Distributions from equity accounted investees 0.3 1.1 Other items 0.3 (0.4) Other income (13.0)2 (3.7) FFO 105.6 177.1 Units on issue (wtd avg) (m) FFO per unit (cents) 1,193.8. 2070.7 8.9 8.6 Notes: 1. Investment management and property management fees are disclosed on a gross basis. 2. Purchase price adjustment on South Nowra., 32 32#34Portfolio summary metrics Home Co. Daily Needs REIT Asset State GLA (sqm) Site area (sqm) Site Coverage (%) 1 Occupancy (by area)² WALE (by income)³ Fair Value ($m) Cap rate (%) Operating Armstrong Creek VIC 12,539 59,709 21% 97% 7.9 112 4.88% Ballarat VIC 20,099 52,084 39% 100% 4.1 57 6.00% Bankstown NSW 17,534 40,240 44% 99% 4.0 94 5.25% Belrose NSW 36,576 44,265 83% 97% 3.5 233 5.25% Box Hill VIC 13,903 40,475 34% 100% 6.9 69 5.25% Braybrook VIC 15,354 41,412 37% 100% 8.7 89 5.00% Bundall QLD 10,458 16,450 64% 100% 4.3 43 5.75% Bunnings Seven Hills NSW 13,440 22,300 60% 100% 8.0 63 4.50% Butler WA 17,452 42,173 41% 100% 7.2 46 6.00% Caringbah NSW 20,857 22,818 91% 98% 2.7 177 5.25% Castle Hill NSW 50,721 59,920 85% 100% 3.1 398 5.50% Coffs Harbour NSW 9,812 24,270 40% 100% 6.4 30 5.75% Coomera City Centre QLD 7,380 29,060 25% 99% 6.1 62 5.25% Cranbourne VIC 59,638 192,818 31% 100% 4.7 221 5.75% Ellenbrook WA 12,138 30,002 40% 98% 7.6 27 6.00% Glenmore Park Town Centre NSW 17,050 45,859 37% 100% 5.3 158 5.25% Gregory Hills Home Centre NSW 9,633 26,690 36% 100% 5.7 38 5.25% Gregory Hills Town Centre NSW 11,715 46,260 25% 100% 7.2 99 5.00% Hawthorn East Highlands Jindalee Joondalup Keysborough VIC 11,492 28,300 41% 100% 6.3 86 5.00% NSW 11,482 31,890 36% 100% 3.7 47 5.75% QLD 26,444 72,030 37% 100% 3.1 206 5.25% WA 17,275 44,260 39% 100% 6.6 59 6.00% VIC 11,831 35,610 33% 100% 7.6 45 5.75% Kotara South Lismore NSW 29,112 53,390 55% 100% 3.9 172 5.25% NSW 8,784 34,750 25% 100% 3.2 20 6.50% Logan QLD 27,117 26,800 100% 100% 3.4 126 5.75% Mackay QLD 11,992 108,700 11% 100% 5.1 40 6.00% Marsden Park NSW 11,499 34,920 33% 100% 4.0 62 5.25% Marsden Park - AVN NSW 19,781 39,900 50% 100% 4.0 130 5.25% Marsden Park QLD QLD 8,221 58,010 14% 94% 7.5 65 5.50% McGraths Hill NSW 16,478 37,840 44% 100% 2.5 14 5.75% Menai Marketplace Mile End Mornington North Lakes Pakenham Parafield Peninsula NSW 16,917 52,450 32% 97% 3.9 88 5.50% SA 33,906 71,320 48% 100% 3.7 151 5.75% VIC 11,425 35,030 33% 100% 7.9 60 5.25% QLD 11,468 39,910 29% 99% 5.1 44 5.50% VIC 28,949 76,220 38% 100% 4.4 110 5.50% SA 15,571 37,122 42% 100% 3.7 28 6.25% VIC 33,418 84,670 39% 100% 3.2 145 5.50% Penrith NSW 12,491 30,150 41% 100% 3.8 65 5.25% Prestons NSW 5,192 15,790 33% 100% 6.1 42 5.25% Richlands QLD 12,779 83,840 15% 89% 8.9 65 6.25% Rosenthal VIC 4,809 17,733 27% 100% 7.1 35 5.00% Southlands Boulevarde WA 22,864 60,899 38% 97% 5.3 93 6.75% South Morang VIC 11,172 35,700 31% 100% 3.9 42 5.75% South Nowra NSW 11,179 28,000 40% 100% 7.8 36 5.75% Tingalpa QLD 10,365 27,720 37% 100% 3.2 42 5.50% Toowoomba South QLD 11,360 32,248 35% 97% 4.2 37 6.25% Tuggerah NSW 38,421 127,410 30% 99% 3.8 128 6.00% Upper Coomera QLD 11,641 39,040 30% 99% 4.6 51 5.25% Victoria Point QLD 20,888 76,080 27% 96% 7.1 149 5.00% Vincentia NSW 9,578 21,600 44% 97% 4.9 65 5.50% Warners Bay NSW 12,336 35,140 35% 100% 4.2 58 6.00% Woodlea VIC HDN Portfolio 8,540 923,075 26,705 2,497,982 32% 98% 8.3 58 5.00% 37% 99% 4.8 4,677 5.46% Notes: All FY23 metrics (except for fair value) as at 30-Jun-23, include McGraths Hill and Menai Marketplace on an 100% basis ($57.0m and $175.0m with 25.3% and 50.1% owned by HDN respectively) and excluding ROU assets at Parafield and Caringbah ($11.0m). 1. Ratio of GLA to site area, where GLA does not include carparks. 2. By GLA and includes rental guarantees, signed leases and MoUs. 3. By gross income for signed leases and signed MoUs. 33#35Contacts Investors and analysts Media Andrew Dodds HMC Capital Corporate Finance & IR Manager +61 423 810 851 [email protected] Sid Sharma HDN CEO +61 434 361 318 [email protected] Authorised for release by the Board of HMC Funds Management Limited Level 7, 1 Macquarie Place, Sydney NSW 2000 John Frey Home Co. Daily Needs REIT Corporate Communications +61 411 361 361 [email protected] 34 =4#36Disclaimer Home Co. Daily Needs REIT This presentation (Presentation) has been prepared by HMC Funds Management Limited (ACN 106 078 635, AFSL 237 257) (Responsible Entity) as responsible entity of HomeCo Daily Needs REIT (ARSN 645 086 620). Summary information This Presentation contains summary information about the current activities of HomeCo Daily Needs REIT and its subsidiaries as at the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete. This Presentation does not purport to contain all the information that an investor should consider when making an investment decision nor does it contain all the information which would be required in a product disclosure statement or prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth). This Presentation is subject to change without notice and the Responsible Entity and HomeCo Daily Needs REIT may in their absolute discretion, but without being under any obligation to do so, update or supplement the information in this Presentation. Certain market and industry data used in connection with this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. None of the Responsible Entity, HomeCo Daily Needs REIT or their respective representatives have independently verified any such market or industry data provided by third parties or industry or general publications. The information in this presentation should be read in conjunction with HomeCo Daily Needs REIT's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au. To the maximum extent permitted by law, the Responsible Entity, HomeCo Daily Needs REIT and their respective subsidiaries, affiliates, related bodies, directors, corporates, officers, employees, partners, agents and advisers make no representation or warranty (express or implied) as to the currency, accuracy, reliability, reasonableness or completeness of the information in this Presentation and disclaim all responsibility and liability for the information (including without limitation, liability for negligence). Past Performance Past performance information given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance or reasonableness of any forward looking statements, forecast financial information or other forecast. Actual results could differ materially from those referred to in the Presentation. Forward Looking Statements This Presentation contains certain "forward looking statements". Forward looking statements can generally be identified by the use of forward looking words such as, "expect", "anticipate", "likely", "intend", "should", "could", "may", "predict", "plan", "propose", "will", "believe", "forecast”, “estimate”, “target” “outlook", "guidance", "continue" and other similar expressions and include, but are not limited to, indications of, or guidance or outlook on, future earnings or financial position or performance of HomeCo Daily Needs REIT. The forward looking statements contained in this Presentation are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of the Responsible Entity or HomeCo Daily Needs REIT, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. Neither the Responsible Entity, HomeCo Daily Needs REIT, nor any other person, gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur. There can be no assurance that actual outcomes will not differ materially from these forward looking statements. A number of important factors could cause actual results or performance to differ materially from the forward looking statements. The forward looking statements are based on information available to the Responsible Entity and HomeCo Daily Needs REIT as at the date of this Presentation. To the maximum extent permitted by law, the Responsible Entity and its directors, officers, partners, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions. Except as required by law or regulation (including the ASX Listing Rules), the Responsible Entity undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward looking statements. 35