• Funds from operations (FFO) increased 29.5% to $325 million
• Statutory profit increased 19.3% to $292 million
• Recurring and development returns remain within target ranges

Stockland, one of Australia's largest diversified property groups, has reported a strong 1H26 performance. Funds from operations (FFO) increased 29.5% to $325 million, driven by growth across the company's Investment Management and Development segments. Statutory profit increased 19.3% to $292 million. The company's strategic targets, including capital allocation, income mix, returns on invested capital, and capital structure, remain within target ranges. The Logistics and Workplace portfolios performed well, with occupancy, weighted average lease expiry (WALE), and leasing metrics all improving. The Town Centres portfolio maintained a diversified rental income stream with a focus on non-discretionary tenants, and the Land Lease Communities segment continued to deliver strong net operating margins. Stockland's development pipeline remains robust, with $10 billion in work-in-progress and future projects across Commercial Development, Masterplanned Communities, and Town Centres. The company's balance sheet and funding position remain strong, with gearing at the lower end of the target range and ample liquidity.