NZX Retail Investor Webinar Presentation

Investore Property Limited | NZX Presentation
NZX Retail Investor
Webinar
21 June 2022

Investore Property Limited | NZX Presentation
Our Strategy
2
Countdown Newtown, Wellington

Investore Property Limited | NZX Presentation
Large Format Retail
•Generally large, free-standing retail centres anchored by national brands
•Sites are usually located in urban or fast-growing regional locations
•Generally rectangular single floor structures on a concrete slab
•Typically building improvements require straightforward maintenance and/or
upkeep, with low lifecycle maintenance
•Sites are conveniently locatedand highly accessible,with plenty of
carparking on site
•Long lease terms with a stable income stream, net of operating costs
Long lease term
9.1 years WALT
Nationally
recognised tenants
High occupancy
99.7%
Investore’sstrategy is to invest in quality, large format retail
properties throughout New Zealand, and actively manage investors’
capital, to maximise distributions and total returns over the medium
to long term
3

Investore Property Limited | NZX Presentation
Our Four Strategic Pillars
4
Investore Property Limited | NZX Presentation
Targeted Growth
Considered acquisitions and
developments which deliver growth,
while continuing to enhance
geographical and/or tenant portfolio
diversification
Active Portfolio Management
Focus on owning well-located
properties with long lease terms and
high occupancy, with nationally
recognisedquality tenant brands, and
maintaining strong and enduring tenant
relationships that support the portfolio
Optimisationof the Portfolio
Development of existing properties to
meet the needs of tenants and the
surrounding catchment, which may
include acquiring sites adjacent to
existing properties, to provide
development options for the future
Proactive Capital Management
Proactive capital management to
maintain a healthy and flexible balance
sheet for growth, while preserving
sustainable returns to investors

Investore Property Limited | NZX Presentation
Recent Results
5
Bunnings TeRapa, Hamilton

Investore Property Limited | NZX Presentation
Key metrics as at31 March 2022
29.5%
Loan to Value Ratio
3
$118.2m
Profit after income tax
$1.2bn
portfolio value
1
6
4.81%
average portfolio market
capitalisationrate
7.90 cents
per share FY22 cash
dividend
$29.9m
distributable profit
2
after current income tax
1. Portfolio value as at31 March 2022 excludes (1) seismic works ($3.0m) to be completed by SPL in relation to 2 CarrRoad, Auckland, acquired from Stride Property Limited (SPL) and settled on 30 April 2020; and (2) lease liabilities.
2. Distributable profit is a non-GAAP measure and consists of profit/ (loss) before income tax, adjusted for determined non-recurring and/ or non-cash items (including non-recurring adjustments for incentives payable to anchor tenants for lease extensions) and current
tax. Further information, including the calculation of distributable profit and the adjustments to profit before income tax, is set out in note 3.2 to the Consolidated Financial Statementsin the InvestoreProperty Limited Annual Report 2022.
3. Loan to Value Ratio (LVR) is calculated based on independent valuations, which include seismic works to be funded by SPL in relation to 2 CarrRoad, Auckland, acquired from SPL and settled in April 2020. The independent valuations also exclude lease liabilities.

Investore Property Limited | NZX Presentation
Our Portfolio
7
Bay Central Shopping Centre, Tauranga

Investore Property Limited | NZX Presentation
Anchor tenant classification by Contract Rental
1
Resilient Tenants Underpin Income
8
1%
3%
3%
4%
12%
63%
NZ Post
Briscoes Group
Mitre 10
Foodstuffs
Bunnings
Countdown
Investore focusses on tenants which meet New Zealand consumers’ everyday needs,
providing a resilient portfolio in varying market conditions, and
a secure income stream for investors
Everyday
needs, 73%
Hardware,
16%
General
Merchandise
/ Retail, 7%
Food /
Beverage,
4%
1. Contract Rental is the amount of rent payable by each tenant, plus other amounts payable to Investoreby that tenant under the terms of the relevant lease as at the
relevant date, annualisedfor the 12-month period on the basis ofthe occupancy level for the relevant property as at the relevant date, and assuming no default by the tenant.

Investore Property Limited | NZX Presentation
National Portfolio
9
North
Island
84%
South
Island
16%
Auckland
(37% of Contract Rental)
13 properties
54 tenants
79,359 sqm NLA
$451m asset value
Waikato & Bay of Plenty
(18% of Contract Rental)
7 properties
40 tenants
50,990 sqm NLA
$183m asset value
Wellington
(17% of Contract Rental)
8 properties
24 tenants
35,005 sqm NLA
$194m asset value
Other North Island
(13% of Contract Rental)
6 properties
11 tenants
48,121 sqm NLA
$182m asset value
Canterbury & Otago
(11% of Contract Rental)
7 properties
9 tenants
25,399 sqm NLA
$137m asset value
Other South Island
(5% of Contract Rental)
3 properties
5 tenants
10,956 sqm NLA
$58m asset value
Note: Numbers in chart may not
sum due to rounding

Investore Property Limited | NZX Presentation
Targeted Growth
10

Investore Property Limited | NZX Presentation
Targeted Growth
11
•Investore has recently undertaken a number
ofstrategic acquisitions:
•Countdown, Petone, Wellington,
purchased for $37.3m in May 2021
•4 Carr Road, Mt Roskill, Auckland,
occupied by Rebel and Briscoes,
purchased for $36.0m in August 2021
•Investore also invests in its existing portfolio in
conjunction with tenant works to develop and
enhance the existing portfolio, including pick
up bays, re-roofing projects and other
refurbishment programmes
•Investore has agreed to expand the customer
amenity and parking at Countdown, Highland
Park, Auckland. The expansion works are
forecast to provide a 5.5% rentalisedreturn
per annum
Recent acquisitions:
✓Are earnings accretive
✓Provide secure income for shareholders
✓Increase exposure to high quality, resilient tenants
✓Are located inmajor urban centers

Investore Property Limited | NZX Presentation
Portfolio Growth since IPO
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•Since listing, Investore has grown its
portfolio value through strategic acquisitions
and developments, generating a compound
annual growth rate (CAGR) of 12% p.a. to
March 2022
•Investore has delivered a like-for-like
portfolio rental CAGR of 1.7%p.a. from
listing to March 2022
•Post-Initial Public Offering (IPO), Investore’s
transaction activity has been growth-
oriented, with a 2.7% rental growth CAGR
across assets acquired
Rolling 12-month portfolio rent (like-for-like) ($m)
1
$1201m
$1038m
$761m
$761m
$738m
$660m
$641m
FY22FY21FY20FY19FY18FY17IPO
Portfolio value (12% Compound Annual Growth Rate)
41.4
41.8
42.5
43.2
44.4
44.3
IPOFY18FY19FY20FY21FY22

Investore Property Limited | NZX Presentation
Capital Management
13
Rebel Sport / Briscoes Mt Roskill, Auckland

Investore Property Limited | NZX Presentation
Proactive Capital Management
3.7 years
Weighted average maturity of
debt facilities as at31 March
2022
3.77%
Weighted average interest
rate as at31 March 2022,
down 27 basis points from
31 March 2021
14
100%
Debt hedged or fixed, with no
debt facilities maturing until
FY24
$355m $355m $355m
$280m
$250m
$125m
1.96%
2.00%2.00%
1.76%
1.63%
0.40%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
-
$50m
$100m
$150m
$200m
$250m
$300m
$350m
$400m
FY22FY23FY24FY25FY26FY27
Fixed rate interest profile as at 31 March 2022
$75m
$50m
$100m
$125m$125m
FY24FY25FY26FY27FY28
Bank Facilities (Mar-22)IPL010IPL020IPL030
Debt maturity profile as at 31 March 2022

Investore Property Limited | NZX Presentation
Climate-Related Disclosures
15
Mitre 10 Mega Botany, Auckland

Investore Property Limited | NZX Presentation
Climate-Related Disclosures
Investore is focused on adapting its portfolio for a sustainable future and meeting the challenges
of climate change
Key activities to understand climate risk:
•First climate risk assessment completed
•Scope 1 and 2 greenhouse gas emissions calculated and subject to a
limited assurance review by Deloitte. Collection of scope 3 emissions
is a focus
Investore is proactively working to address the risks of climate
change:
•Undertaking a Green Star Performance rating for two portfolio of
properties in collaboration with the tenants
•Minimum 4 starGreen Star Design & As Built rating targeted for the
new Countdown supermarket planned for WaimakJunction, with
options for a 5 starrating being explored
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Investore Property Limited | NZX Presentation
•Continued focus on targeted growth to
enhance the portfolio and maximise returns
•Grow Investore’sportfolio and income
through improving and developing the
existing portfolio
•Prudent management of developments
•Cash dividend guidance for FY23 of 7.90
cents per share
FY23 cash
dividend guidance
7.90 cps
Looking Ahead
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Investore Property Limited | NZX Presentation
Ngāmihi | Thank you
18
Important Notice: The information in this presentation is an overview of Investore and its
operations and does not contain all information necessary to make an investment
decision.Please refer to Investore’s Annual Report 2022 for further information in
relation to the year ended 31 March 2022 and any information published on Investore’s
website regarding Investore generally. The information in this presentation does not
purport to be a complete description of Investore. In making an investment decision,
investors must rely on their own examination of Investore, 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, Investore, Stride Investment Management Limited 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
Investore, Stride Investment Management Limited and their respective directors, officers,
employees, agents and advisers) 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.
Level 12, 34 Shortland Street
Auckland 1010, New Zealand
PO Box 6320, Victoria Street
West, Auckland 1142,
New Zealand
P+64 9 912 2690
Winvestoreproperty.co.nz