Annual Shareholder Meetings 2020

•
•

---

•
•
•
•
•
•
•
•
•

---

Stride Property Group
Annual Shareholder Meetings
2020

Stride Property Group I Annual Shareholder Meetings 2020
2
Question Process
•When the Question
function is available,
the Q&A icon will
appear at the top of the
app.
•To send in a question,
simply click in the ‘Ask
a question’ box, type
your question and
press the send arrow
•Your question will be
sent immediately for
review

3
Voting Process
•When the poll is open, the
vote will be accessible by
selecting the voting icon at
the top of the screen
•To vote simply select the
direction in which you would
like to cast your vote, the
selected option will change
colour
•There is no submit or send
button, your selection is
automatically recorded
Stride Property Group I Annual Shareholder Meetings 2020

Board and Management
4
Board Refresh –Stride
•Nick Jacobson appointed to the Stride Boards in July 2019, bringing considerable property and
capital markets experience, which will benefit Stride as it grows its funds management business
•David van Schaardenburg retired on 29 August 2019 after 9 years as a Director
Philip Littlewood
Chief Executive Officer
Jennifer Whooley
Chief Financial Officer
Tim Storey
Chair of Board, Independent
John Harvey
Independent
Michelle Tierney
Independent
Philip Ling
Independent
Jacqueline Cheyne
Independent
Nick Jacobson
Independent
Stride Property Group I Annual Shareholder Meetings 2020

Agenda
•Chair’s address
•Chief Executive Officer’s presentation
•Consideration of Annual Report and financial statements for FY20
•Resolution for Stride Property Limited
•Resolutions for Stride Investment Management Limited
•General business and final questions
4
Stride Property Group I Annual Results Presentation for the year ended 31 March 2020

Chair’s Address
6
Transformative
Transactions
•Establishment of Industre, Stride’s Product focussed on industrial property
•Sale of large format retail properties to Investore, Stride’s Product focussed on the large
format retail sector
Strong Balance
Sheet
•SPL’s Loan to Value Ratio 17.8% as at 31 March 2020 on a pro forma basis as at
31 March 2020 after allowing for the transactions described above
Supports
Execution of
Strategy
•Enables Stride to support its Products, such as through contributing further capital
•Stride will continue to grow its investment management business for the future
Looking Forward
•The recent nature of COVID-19 means there remains uncertainty for the outlook for FY21.
The Boards currently anticipate combined dividends per share for SPL and SIML will be
9.91 cps
•Stride will continue to evaluate opportunities to grow the business
Stride Property Group I Annual Shareholder Meetings 2020

Performance –FY20
Profit after income tax
$25.3m
Distributable profit after
current income tax
$37.7m
NTA per share
$1.91
Pro forma Loan to
Value Ratio 31 Mar 20
17.8%
7
Net rental income
$59.1m
Portfolio Valuation
$996.1m
Combined Stride FY20 cash
dividend
9.91 cps
Stride Property Group I Annual Shareholder Meetings 2020

Places
Key Transactions
Developments
Sale of three large
format retail
properties to
Investore
Establishment of Industre
Acquisition of two industrial
properties –The Concourse /
Selwood Road, Auckland, and
Wickham Street, Hamilton
Waste Management Auckland Headquarters
development completed
Led to two further projects with Waste Management:
–Selwood Road, Auckland -completion expected in
late 2020
–Wickham Street, Hamilton (acquired 1 April 2020) -
part of property under development, completion
expected in late 2020
8
Stride Property Group I Annual Shareholder Meetings 2020

People
9
Board Refresh –New Director
Nick Jacobson Appointed
Significant transactions completed while Stride people
worked from home, including $286m bank financing
across all Stride Products and $105m capital raising for
Investore
Stride Property Group I Annual Shareholder Meetings 2020

Chief Executive’s
Address

•As a result of COVID-19, portfolio valuation
declined by $70.5m or 14.5% on a gross basis
for FY20
•The $110m redevelopment at Queensgate
Shopping Centre is underway with the carpark
scheduled to open in early 2021 and the state of
the art cinema complex scheduled to open in
early 2022
Products
Transactions completed to further targeted growth
strategy
•Successful acquisition of $148m of
properties, including acquisition of
Countdown New Brighton for $5.75m and the
post balance date acquisition of three
properties from SPL for $140.75m
•Portfolio value of $895m following latest
acquisition, with WALT of 10.4 years and
99.7% occupancy by area
•$183m capital raised over past nine months
to support acquisitions and provide balance
sheet flexibility for future growth
•Loan to value ratio 30.4% and $148m bank
facility available, as at 31 March 2020 on a
pro forma basis assuming the latest capital
raise and acquisition from SPL had
completed as at that date
11
Stride Property Group I Annual Shareholder Meetings 2020

New Product -
12
•Industre commenced on 1 July 2020, and is Stride’s industrial property focussed Product
•Industre is a joint venture with a group of international institutional investors, through a special
purpose vehicle and advised by J.P. Morgan Asset Management (together, JPMAM)
•On commencement, Industre had $398m of properties in its portfolio. It has acquired or agreed to
acquire $50m of additional properties, and has two properties currently under development
•Industre’s vision is to grow its portfolio. JPMAM has allocated $115m of capital for growth initiatives,
including recent acquisitions and current developments
•Over the long term, the strategy is for JPMAM to fund further portfolio growth until the respective
shareholdings in the portfolio are 75% / 25% (JPMAM / SPL)
Stride Property Group I Annual Shareholder Meetings 2020

Growth of Assets Under Management
Stride AUM as at 31 March 2020
13
Stride AUM as at 31 March 2020 post transactions
$186m
$302m
$414m
$398m
$82m
$74m
$488m
$895m
$496m
$472m
OfficeRetail Shopping CentresLarge Format Retail
IndustrialCommitted
$186m
$302m
$132m
$376m
$996m
$761m
$414m
OfficeRetail Shopping CentresLarge Format RetailIndustrial
Stride Property Group I Annual Shareholder Meetings 2020

SPL Portfolio Metrics
14
When SPL’s directly-held investment properties are combined with SPL’s look-through holdings in the
Stride Products, including its approximate 68.3% holding in Industre, its 18.8% holding in Investore
(following Investore’smost recent capital raise) and its 2.0% holding in Diversified, SPL’s $960m look-
through portfolio shows strong investment metrics, including 98.1% occupancy and a WALT of 7.1 years
Office
19%
Industrial
31%
Large Format
Retail
18%
Retail Shopping
Centre
32%
SPL's weighted look-through
portfolio value
$302m
Office
18%
Industrial
20%
Large Format
Retail
14%
Retail Shopping
Centres
32%
Base
management
fees
16%
Stride weighted look-through
revenue sources
All figures are as at 31 March 2020, as if the sale of the three large format retail properties to Investore had settled as at that date and as if
Industre had commenced as at that date. Base management fees comprise estimated FY21 management fees from Stride Products (i.e.
excluding fees from SPL) and exclude capex fees, planned maintenance fees, leasing fees, development fees, performance fees and
other one-off or activity based fees.
Stride Property Group I Annual Shareholder Meetings 2020

Stride’s pro forma AUM was $2.3bn as at 31 March 2020, with over $470m of available capital
across Investore, Industre and SPL. If this capital was used, Stride’s AUM would grow to $2.83bn.
All figures are as at 31 March 2020 on a pro forma basis, assuming post balance date transactions
had completed as at that date
15
Growth
$895m
$148m
$1,043m $1,043m
$472m
$112m
$584m $584m
$496m
$496m $496m
$488m
$218m
$706m
$1,863m
$2,123m
$2,829m
Pro forma external AUMAvailable capitalPro forma external AUM
plus available capital
Stride pro forma propertyUtilisation of SPL
undrawn debt facilities
Total pro forma AUM
plus available capital
Stride Property Group I Annual Shareholder Meetings 2020

COVID-19 Update
16
Balance SheetAs at 31 March 2020 on a pro forma basis (following the sale of properties to
Investore and establishment of Industre), SPL had a Loan to Value Ratio of
17.8% and $218m of available debt facilities
Diversified
business and
revenue sources
Stride is a diversified investment business, which derives income from a variety
of asset classes held in Stride Products including office (18%), industrial (20%),
shopping centres (32%) and large format retail (14%), and annual base external
investment management income representing 16% of income
COVID-19 impact
and mitigation
Stride is working proactively with all tenants to provide support, including a
sharing of costs through a combination of rental abatements and deferrals
Stride currently expects the financial impact from COVID-19 to result in a
reduction in distributable profitfor FY21 of between $2.9m and $5.1m. However,
this is expected to be partially offset by one-off activity based income in FY21
expected to increase distributable profit by between $2.2m and $3.6m
Stride Property Group I Annual Shareholder Meetings 2020

Looking Forward
•Stride will continue to focus on establishing a group of
commercial property Products to provide growth in our
investment management business
•Growth of Industre, Investore and Diversified are key
focusses for the future
•SPL’s low LVR means it is well positioned to consider
acquisitions during FY21 if opportunities allow
•The nature of COVID-19 means there remains
uncertainty for the outlook for FY21. The Boards currently
anticipate combined dividends per share for SPL and
SIML will be 9.91 cps
•The Boards will continue to keep shareholders informed
during the financial year as the impacts of COVID-19 on
the full year results become more certain
17
Stride Property Group I Annual Shareholder Meetings 2020

Formal Business

19
Voting Process
•When the poll is open, the
vote will be accessible by
selecting the voting icon at
the top of the screen
•To vote simply select the
direction in which you would
like to cast your vote, the
selected option will change
colour
•There is no submit or send
button, your selection is
automatically recorded
Stride Property Group I Annual Shareholder Meetings 2020

Stride Property
Limited
Resolution

That the Directors be authorised to fix the remuneration of
PricewaterhouseCoopers as auditor of Stride Property Limited
for the ensuing year
Resolution 1 –
Auditor’s Remuneration
5
Stride Property Group I Annual Shareholder Meetings 2020

SPL Proxy Votes Received
22
Resolution 1: Auditor’s Remuneration
Proxy votes lodgedForAgainstDiscretionary
171,493,55897.01%0.07%2.92%
Stride Property Group I Annual Shareholder Meetings 2020

Stride Investment
Management
Limited Resolutions

That the Directors be authorised to fix the remuneration of
PricewaterhouseCoopers as auditor of Stride Investment
Management Limited for the ensuing year
Resolution 1 –
Auditor’s Remuneration
5
Stride Property Group I Annual Shareholder Meetings 2020

That Michelle Tierney be
re-elected as a Director of
Stride Investment
Management Limited
Resolution 2 –Re-election of
Director Michelle Tierney
25
Stride Property Group I Annual Shareholder Meetings 2020

That Philip Ling be re-
elected as a Director of
Stride Investment
Management Limited
Resolution 3 –Re-election of
Director Philip Ling
26
Stride Property Group I Annual Shareholder Meetings 2020

SIML Proxy Votes Received
27
Resolution 1: Auditor’s Remuneration
Proxy votes lodgedForAgainstDiscretionary
171,538,22796.97%0.07%2.95%
Resolution 2: Re-election of Director Michelle Tierney
Proxy votes lodgedForAgainstDiscretionary
171,533,01497.05%0.02%2.93%
Resolution 3: Re-election of Director Philip Ling
Proxy votes lodgedForAgainstDiscretionary
171,520,35897.04%0.00%2.96%
Stride Property Group I Annual Shareholder Meetings 2020

General Business
and Shareholder
Questions

Important Notice: The information in this presentation is an overview and does not
contain all information necessary to make an investment decision.It is intended to
constitute a summary of certain information relating to the performance of Stride Property
Group for the twelve months ended 31 March 2020. Please refer to Stride Property
Group’s Annual Report 2020 for further information in relation to the twelve months ended
31 March 2020. The information in this presentation does not purport to be a complete
description of Stride Property Group. In making an investment decision, investors must
rely on their own examination of Stride Property Group, including the merits and risks
involved. Investors should consult with their own legal, tax, business and/or financial
advisors in connection with any acquisition of securities.
No representation or warranty, express or implied, is made as to the accuracy,
adequacy or reliability of any statements, estimates or opinions or other information
contained in this presentation, any of which may change without notice. To the
maximum extent permitted by law, each of Stride Property Limited, Stride Investment
Management Limited (together, the Stride Property Group) and their respective
directors, officers, employees, agents and advisers disclaim all liability and responsibility
(including without limitation any liability arising from fault or negligence on the part of
Stride Property Group, its directors, officers, employees and agents) for any direct or
indirect loss or damage which may be suffered by any recipient through use of or
reliance on anything contained in, or omitted from, this presentation.
This presentation is not a product disclosure statement or other disclosure document.
29
Thank You
Stride Property Group I Annual Shareholder Meetings 2020