Dexus Industria (DXI) AGM 2025 summary

Opening remarks and agenda

• Welcomed security holders to the hybrid AGM, acknowledged traditional custodians, and outlined the agenda including addresses from the Chair and Fund Manager, formal business, and Q&A sessions.

Board and executive committee updates

• Introduced new Fund Manager Jason Weat, effective November 1, 2025, and recognized Deputy Fund Manager Gordon Korkie.

• Board comprises Jennifer Horrigan (Chair), Emily Smith, Danielle Carter, Jonathan Sweeney, Melanie Bourke (Executive Director/COO), and Brett Cameron (Alternate Executive Director).

• Danielle Carter and Emily Smith addressed the meeting and stood for re-election, highlighting their experience and commitment.

Financial performance review

• Achieved FFO per security of AUD 0.182 (18.2cps), up 4.6% year-on-year, exceeding guidance.

• Distributions totaled AUD 0.164 (16.4cps) per security, with a payout ratio of 90% and a 6.0% yield.

• Portfolio like-for-like income grew 5.9%, with 3.5% average rent review, high occupancy (98.6%), and 5.4-year WALE.

• Leasing volumes doubled to nearly 200,000 sq m, with significant development completions.

• Portfolio valuation stood at $1.5bn, with look-through gearing at 29.0%, below the 30-40% target range.