• Delivered on FY25 guidance, with Funds From Operations (FFO) and distributions of 20.7 cents per security
• Increased like-for-like net property income growth to 2.9% supported by average rent reviews of 3.1% and increase in occupancy to 99.9%
• Balance sheet positioned for growth with gearing of 29.4% at the lower end of the 25-40% target range

Dexus Convenience Retail REIT (DXC) today announced its results for the full year ended 30 June 2025, confirming a distribution of 20.7 cents per security. The company delivered on FY25 guidance, with Funds From Operations (FFO) and distributions of 20.7 cents per security, slightly above guidance of 20.6 cents per security. DXC increased like-for-like net property income growth to 2.9% supported by average rent reviews of 3.1% and an increase in occupancy to 99.9%. The balance sheet is positioned for growth with gearing of 29.4% at the lower end of the 25-40% target range, providing funding capacity to undertake existing development opportunities and pipeline restocking activity. The Glass House Mountains Northbound site is on track for completion in February 2026, fully pre-leased on an average 18-year lease term, and design is progressing on the Southbound site with tenant negotiations underway. The portfolio valuation uplift supported a 2.2% increase in Net Tangible Assets (NTA) per security.

Barring unforeseen circumstances, DXC provides FY26 guidance for FFO and distributions of 20.9 cents per security, reflecting an attractive distribution yield of 7.1%.

DXC is well placed to deliver defensive and growing property income and will retain its focus on enhancing portfolio attributes that deliver income certainty and growth, preserving balance sheet flexibility, pursuing value-enhancing activities, and leveraging Dexus's capabilities across transactions, developments, asset management and treasury.