Qualitas Real Estate Income Fund (QRI) investor relations material

Executive summary

• Net assets attributable to unitholders rose 3.6% year-over-year to $1,009.8 million, driven by new capital raised and portfolio expansion.

• Operating profit increased 6.1% to $70.9 million, reflecting higher investment income and disciplined cost control.

• The Trust maintained its focus on capital preservation and reliable income, with no impairments or interest arrears in the portfolio.

Financial highlights

• Total investment income grew 9.5% year-over-year to $88.3 million.

• Distributions paid and payable totaled $71.4 million (11.45 cents per unit), up from $66.5 million (13.21 cents per unit) in the prior year.

• Net tangible assets per unit were $1.6001 at year-end, stable compared to $1.6009 a year earlier.

• Units on issue increased to 631.1 million from 608.7 million, reflecting capital raising and DRP participation.

Outlook and guidance

• The Trust is positioned to benefit from structural tailwinds in the Australian residential sector, including tax reforms favoring new builds and income-generating assets.

• Management expects continued stable and attractive risk-adjusted income, with a focus on portfolio agility and quality underwriting.