• AFFO of $253.3 million or 23.6 cents per security, distributions of 19.3 cents per security
• Statutory net profit after tax of $348.5 million, driven by fair valuation gains
• Strong office and industrial leasing, portfolio valuations up 1%

Dexus (ASX: DXS) today announced its results for the six months ended 31 December 2025, confirming a distribution of 19.3 cents per security. Key highlights include AFFO of $253.3 million or 23.6 cents per security, and statutory net profit after tax of $348.5 million, up from $10.3 million in HY25, primarily driven by fair valuation gains. Total office leasing volumes of 95,300 square metres were almost double HY25 volumes, and industrial like-for-like income grew strongly, up 8.7%. Dexus's funds management platform continued to deliver performance for investors, with DWPF outperforming its benchmark across all time periods. The company undertook circa $3.8 billion of transactions, including $1.6 billion of acquisitions and $2.2 billion of divestments. Dexus reaffirmed its FY26 guidance for AFFO of 44.5 - 45.5 cents per security and distributions of 37.0 cents per security.

Barring unforeseen circumstances, for the 12 months ending 30 June 2026, Dexus reaffirms its expectation for AFFO of 44.5 - 45.5 cents per security and distributions of 37.0 cents per security.

Valuations have turned positive, transaction and fundraising markets are recovering, and Dexus's confidence in the long-term fundamentals of the business has strengthened. The company is actively exploring opportunities to enhance returns and capital efficiency by increasing third party capital participation in the investment portfolio, which may release additional capital beyond the stated divestment target.