Asset Plus : 2021 Interim Results Presentation2021 Annual Results Presentation

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1	FINANCIAL RESULTS
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0FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021

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Overview

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Key Activity

Portfolio

Update

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Key Metrics	03 Financials

Outlook

Asset Plus, FY22 Interim Results | November 2021	2	Assetplusnz.co.nz

Key Activity

Settlement of Eastgate

Shopping Centre

deferred to 1 April 2022

Continued support of tenants through further COVID-19 lockdowns

Munroe Lane progressing

well, but completion delayed

to March 2023 due to

COVID-19 impacts

Ongoing leasing campaign at

35 Graham Street,

with proposals made to

prospective tenants

Lease renewals secured at Stoddard Road, maintaining occupancy at 100%

AFFO in line with the prior corresponding period at $2.57m

Asset Plus, FY22 Interim Results | November 2021	3	Assetplusnz.co.nz

Key Metrics

as at 30 September 2021

PropertiesWALE

Portfolio Value	5	2.65 years
	(Mar-21: 5)	(Mar-21: 2.75)

$188.2m	Number of Tenants	Occupancy

(Mar-21: $172.8m)

68	79.2%
(Mar-21: 71)	(Mar-21: 98.0%)

LVR

15%

(Mar-21: 5.4%)

NTA

$0.445

(Mar-21: $0.448)

Asset Plus, FY22 Interim Results | November 2021	4	Assetplusnz.co.nz

COVID-19 impacts

• Rental abatements and relief reduced 1H22 operating income by $0.18m ($0.13m after tax), equivalent to approximately 2.1% of current annualised net rental income.
• The Government has now enacted legislation to effectively add the 'no access' clause into every lease, and back dating to 18
  August 2021. Management are assessing the implications of this and working with tenants to identify any potential changes to agreements already in place.
• Collaborative approach adopted to date, providing support to those tenants where required to ensure continuity of existing leases.
• Estimated impact for the full FY22 year of $0.5m. The NPAT impact of this will be partially offset by the additional income from Eastgate as a result of the deferral of the settlement to 1 April 2022.