Abacus Storage King (ASK) AGM 2025 summary

Opening remarks and agenda

• Chair John O'Sullivan addressed the meeting, highlighting his roles on the Nomination, Audit & Risk, and Remuneration Committees.

Board and executive committee updates

• Board includes independent non-executive directors Sally Herman, Karen Robbins, and Mark Bloom, each chairing or serving on key committees.

• Steven Sewell serves as Managing Director and Nikki Lawson as Group General Manager - Self Storage.

Financial performance review

• Total assets reached $3.6bn, up 11.8% on FY24; statutory profit was $289.0m, up $150.8m.

• Net tangible assets per security at $1.74; FFO at $85.0m and FFO per security at 6.47cps.

• Distribution per security increased 1.7% to 6.20cps; established occupancy at 91.2%.

• Gearing at 29.3%; established REVPAM at $340psm, up 4.5%.