Investor Presentaiton

Dividend History – Growing Dividends - OBJECTIVE IS FOR ANNUAL ORDINARY DIVIDENDS TO INCREASE ALIGNED TO UNDERLYING ANNUAL EPSA GROWTH 12.0 10.0 Ordinary Dividend & Underlying EPSA 8.7 8.0 7.7 $ (cents) 00 6.0 8.4 7.2 10.6 6.3 6.0 5.5 5.7 5.2 4.0 2.0 0.0 FY18 FY19 FY20 FY21 FY22 Dividend Underlying EP SA FY18 FY19 FY20 FY21 FY22 EPSA payout ratio 71% 66% 72% 71% 59% QUBE Following completion of the Moorebank monetisation Qube now targets a full year ordinary dividend payout ratio of 50-60% of underlying earnings per share (pre amortisation) EPSA. Dividends have all been fully franked and we have a large franking credit account balance (June 2022 $247.0m). • In determining dividends the Board takes into account the cashflow generated by the business and other relevant factors including the financial and economic outlook and capital expenditure requirements. FY22 also included a fully franked special dividend of 0.7 cps (not shown in chart). Special dividends in FY18 (1.0 cps) and FY19 (2.0 cps) also not included in the chart. The objective is for annual ordinary dividends to increase aligned to underlying annual EPSA growth. Additional capital management initiatives will be considered from time to time. 84

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