FY26 Results Presentation

• LDR Capital appointed as Investment Manager in February 2026
• $1.9m annualised savings on management fees
• Sold $105m of secondary assets to reduce gearing to 29.3%
• Focus on repositioning portfolio for enduring cashflows
• FY27 to be a pivotal year for repositioning and capital deployment

LDR Capital Property Fund, under new management since February 2026, has undertaken significant repositioning in FY26. The fund sold $105m of secondary assets, achieving a 37% reduction in management fees, and reduced gearing to 29.3%. The fund aims to reposition its portfolio to focus on essential properties capable of delivering enduring cashflows. The next year, FY27, is expected to be pivotal for completing the repositioning and deploying capital into high-quality assets. The fund's performance has been impacted by asset resets, underperforming investments, and debt-funded distributions, leading to a decline in NTA per security since IPO.

FY27 to focus on repositioning and deploying capital into high-quality assets

FY27 expected to be pivotal for repositioning and capital deployment into high-quality assets