Dexus Industria (DXI) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed attendees, acknowledged traditional custodians, and outlined meeting logistics and hybrid participation options.

• Meeting formally opened, with online and in-person voting and Q&A procedures explained.

Board and executive committee updates

• Nicola Roxon and Paula Dwyer retired from the board, both recognized for significant contributions, especially in governance and sustainability.

• Introduction of directors and executive team, with mention of new hires and strengthened organizational capability.

Financial performance review

• Delivered AFFO of $484 million and distributions of $0.37 per security, with an 82% payout ratio.

• Balance sheet remains strong with low gearing despite devaluations; property portfolio valuations turned positive in the second half of FY25.

• Portfolio value declined 1.1% over 12 months, but office and industrial valuations increased in the second half.

• Funds management business raised new equity, facilitated $450 million in secondary transactions, and divested $1.8 billion in assets.