Appendix 4D and HY24 Financial Statements

• Operating profit increased 14.62% year-on-year to $31.7 million
• Net assets grew 17.52% to $755.4 million due to successful capital raises
• Distribution of 6.9314 cents per unit paid for the half-year

Qualitas Real Estate Income Fund (ASX: QRI) has reported its results for the half-year ended 31 December 2024. The Trust's operating profit increased 14.62% year-on-year to $31.7 million, driven by improved net positive portfolio performance and effective cost control. Total investment income grew 15.25% to $38.6 million. As at 31 December 2024, the Trust's net assets stood at $755.4 million, a 17.52% increase from the prior corresponding period. This was attributable to the proceeds from two unit placements completed by the Manager in July 2024 and December 2024, which raised a total of $76.9 million from eligible unitholders. The Trust paid a distribution of 6.9314 cents per unit for the half-year ended 31 December 2024, compared to 7.1895 cents per unit in the prior corresponding period. The Responsible Entity has a Distribution Reinvestment Plan in place, under which 1.3 million new units were issued during the half-year.The Trust's net tangible assets per unit as at 31 December 2024 was $1.6015, compared to $1.6018 as at 31 December 2023. There were no changes in control of entities during the half-year.Subsequent to the reporting period, the Trust declared a further distribution of 1.1273 cents per unit, payable on 17 February 2025. The Trust is also planning an Entitlement Offer to raise up to $151 million in additional capital.

The Trust reported an operating profit of $31.7 million for the half-year ended 31 December 2024, a 14.62% increase from the prior corresponding period.

The Trust will continue to be managed in accordance with its investment objectives and guidelines, with the results of operations expected to be affected by the performance of investment markets. The Trust is planning an Entitlement Offer to raise up to $151 million in additional capital.