Growthpoint Properties Australia (GOZ) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land and welcome to both in-person and online attendees.

• Board members, executive team, and auditor representatives introduced; agenda and voting procedures outlined.

• Chair and CEO addresses outlined the meeting's focus on value creation, strategic growth, and formal business matters.

• Security holders could participate, ask questions, and vote both in person and online, with questions moderated for clarity.

Financial performance review

• FY25 FFO was 23.3 cps, with a statutory net loss after tax of ($124.6m), and NTA per security at $3.09.

• Funds from operations exceeded guidance and distributions met forecasts, with ordinary distribution at 18.2 cps and a one-off distribution of 2.1 cps, totaling 20.3 cps.

• Total security holder return of 16.7% outperformed the S&P ASX 300 index.

• Asset recycling generated AUD 335 million, reducing gearing to 39.7%.

• Assets under management reached $5.4b across 66 assets as of 30 June 2025, with high occupancy maintained at 94%.

Board and executive committee updates

• Board includes an independent chair, CEO/Managing Director, several independent and non-independent directors, and key executives in investment, operations, and funds management.

• Acknowledgment of outgoing CFO Dion Andrews and CIO Michael Green for their significant contributions.

• Nick Cost to join as Group Executive and Head of Property in December, ensuring leadership continuity.