• Funds from operations (FFO) increased 4.3% to $352.2 million
• Adjusted funds from operations (AFFO) increased 0.6% to $253.3 million
• Distribution per security increased 1.6% to 19.3 cents

Dexus has reported its financial results for the half year ended 31 December 2025, with funds from operations (FFO) increasing 4.3% to $352.2 million and adjusted funds from operations (AFFO) increasing 0.6% to $253.3 million compared to the prior corresponding period. The company's statutory net profit after tax was $348.5 million, compared to $10.3 million in the prior corresponding period, primarily driven by fair valuation gains this half. The property portfolio valuations resulted in an overall 1.0% increase on prior book values, with the office portfolio valuations increasing by 0.7% and the industrial portfolio increasing by 1.6%. The weighted average capitalisation rate increased one basis point for the office portfolio to 6.19% and decreased one basis point for the industrial portfolio to 5.55%. Distribution per security increased 1.6% to 19.3 cents, with a payout ratio of 82.0% of AFFO.

Dexus expects trading profits (net of tax) to be materially lower in FY27 compared to the $40.9 million realised in HY26.

Dexus remains focused on driving performance, investing in areas with large, growing markets and the ability to achieve leadership, while leveraging its multi-sector skillset. The company aims to be globally recognised as Australasia's leading real asset manager, delivering superior risk-adjusted returns for security holders and capital partners.