• $39.8 billion in assets under management, a $5.4 billion increase
• Established new partnerships and expanded existing ones across sectors
• Pooled funds delivered strong performance, outperforming benchmarks
• Maintained carbon neutral certification across wholly-owned and managed assets

The GPT Group reported a pivotal year in 2025, advancing its strategic goal of becoming Australia's leading diversified real estate manager. The Group delivered strong operating performance across its core business, enhanced its management and executive capability, and expanded its assets under management to $39.8 billion, an increase of $5.4 billion from the prior year. This growth was achieved as the Group pursued its ambition to shift to co-investments with aligned capital partners. Across its three major sectors, GPT made meaningful strides in executing its strategy, including the addition of new retail assets, establishing a second partnership with QuadReal in logistics, and acquiring a 50% interest in Grosvenor Place, Sydney in partnership with Commonwealth Superannuation Corporation. The Group's $16.6 billion Investment portfolio achieved strong income growth across all sectors, with occupancy of 97.6% and a weighted average lease expiry of 4.5 years. This contributed to a net tangible asset value of $5.53 and a statutory net profit after tax of $981 million for the year. GPT's pooled funds also delivered strong performance, with the GPT Wholesale Shopping Centre Fund returning 11.2% and the GPT Wholesale Office Fund delivering a total return of 7.8%. The Group maintained its focus on sustainability, maintaining carbon neutral certification across its wholly-owned and managed operational assets during the year.

Barring unforeseen circumstances, GPT expects to deliver full year 2026 Funds from Operations of approximately 35.4 cents per security, representing growth of approximately 4% or 5.7% excluding trading profits, and a distribution of 24.5 cents per security.

GPT enters 2026 from a position of strength, with a high-quality portfolio, a well-positioned balance sheet, and earnings underpinned by contracted cash flow and near-full occupancy across the platform. The Group remains optimistic about the opportunities ahead, but is mindful of ongoing challenges such as geopolitical uncertainty, the implications of AI adoption, and higher interest rates.