Reef Casino Trust (RCT) investor relations material

Executive summary

• Revenue for the half year ended 30 June 2026 was $10.487 million, down 6.7% year-over-year, primarily due to lower rental income from the Reef Hotel Casino as a result of increased operating costs and regulatory changes.

• Distributable profit was $3.298 million, nearly unchanged from the prior year, with 100% distributed to unitholders at 6.63 cents per unit.

• A major event was the successful takeover by Iris Cairns Property Pty Ltd, which acquired 85.77% of units at $3.87 per unit, and also acquired the Responsible Entity and Operator.

Financial highlights

• EBITDA for the period was $6.218 million, up 2.5% year-over-year.

• Net profit attributable to members was $1.649 million, essentially flat compared to $1.650 million in the prior year.

• Total assets stood at $105.715 million as of 30 June 2026.

• Net tangible asset backing per unit increased slightly to $1.34 from $1.33.

• Cash and cash equivalents at period end were $2.731 million.

Outlook and guidance

• The Trust expects continued support from domestic tourism, business, and events, but international tourism remains subdued.

• Cost control and prudent capital management will remain priorities amid inflationary pressures and regulatory obligations.

• A strategic review of operations is underway following the takeover, with potential changes to priorities and strategy.