• Dexus delivers results in line with expectations, makes progress on strategic action items
• Positive total returns for office and industrial portfolios, strong performance for funds
• Continued execution of opportunity fund strategy, resolution of fund-specific matters
• Enhancing portfolio quality, transitioning balance sheet, maximising funds contribution

Dexus has reported its HY26 results, with performance in line with expectations and progress made on strategic action items. The company's office and industrial portfolios delivered positive total returns of 5.7% and 8.8% respectively over the 12-month period. Dexus's funds management business also continued to perform strongly, with DWPF and DWSF outperforming their benchmarks. The company made progress on its opportunity fund strategy, with the seed investment of $170 million into DSIT1 and $390 million in equity commitments for DREP2's strategy. Dexus also reduced its real estate redemption queue by around $1 billion and continued to rationalise sub-scale funds. The company's sustainability performance remained strong, with its office portfolio maintaining high NABERS ratings and the group maintaining net zero emissions across Scope 1 and 2. Looking ahead, Dexus is focused on further enhancing the quality and resilience of its investment portfolio, progressing developments, and delivering strong asset performance for its capital partners. The company is also transitioning its balance sheet, maximising the contribution from its funds management business, and unlocking the deep sector expertise within the organisation.

Dexus expects to deliver FY26 AFFO in line with guidance, with trading profits anticipated to be materially lower in FY27.