Appendix 4D and 1H25 Financial Report

• Distributable Earnings consistent with 1H24 at $55.6 million
• Distributable EPS increased 0.4% to 8.31 cents per security
• Statutory net profit increased 46.9% to $137.1 million

Waypoint REIT, Australia's largest listed REIT owning fuel and convenience retail properties, reported its financial results for the half-year ended 30 June 2025 (1H25). Distributable Earnings in 1H25 were consistent with 1H24 at $55.6 million, with increased rental income ($2.1 million) offset by higher operating expenses ($0.3 million), higher net interest expense ($1.7 million) and higher income tax expense ($0.1 million). Distributable Earnings per security increased by 0.4% to 8.31 cents, driven by a lower weighted average number of securities on issue following the on-market buy-back of 12.6 million stapled securities. Statutory net profit increased by $43.8 million (from $93.3 million in 1H24 to $137.1 million in 1H25), primarily driven by valuation movements on investment property, with a net gain of $96.8 million in 1H25 compared to a net gain of $35.7 million in 1H24, partially offset by valuation movements on derivative financial instruments. Net tangible assets per security at 30 June 2025 increased by 4.7% to $2.89, primarily due to valuation movements on investment property. The portfolio occupancy remained high at 99.9%, with a weighted average lease expiry of 6.6 years. Waypoint REIT's gearing of 32.7% remained in the lower half of the target range of 30-40%.

Barring unforeseen circumstances, Waypoint REIT expects to deliver Distributable Earnings per security of 16.64 cents in 2025, representing 1% growth on 2024 Distributable Earnings per security and is 1% higher than earnings guidance provided at the full year results in February 2025.