HomeCo Daily Needs REIT Pitch

Home 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

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