NZ Shareholders’ Association hosted at Sylvia Park

Today Kiwi Property management hosted a site tour of Sylvia Park for members of the
NZ Shareholders’ Association (NZSA).

A copy of the presentation from the NZSA site tour is attached.


ENDS

For further information:
Fraser Gunn
Head of Corporate Finance and Investor Relations
fraser.gunn@kp.co.nz
+64 21 973 534


About us:
Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New
Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We have been
around for over 30 years and proudly own and manage a significant real estate portfolio
comprising some of New Zealand’s best mixed-use, retail and office buildings. Our
objective is to provide investors with a reliable investment in New Zealand property
through the ownership and active management of a diversified, high-quality portfolio.
Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our
website, kp.co.nz

NZX RELEASE
15 August 2025

NZ Shareholders’ Association hosted at Sylvia Park

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1
New Zealand
Shareholders’
Association
Sylvia Park site tour
15 August 2025

2
Agenda
•Arrival and morning tea
•Introduction
•Brief presentation
•Q&A
•Sylvia Park site tour

3
Kiwi Property’s investment portfolio
Mixed-useOfficeRetail
The Plaza
Centre Place North
Resido
(Sylvia Park precinct)
Sylvia Park shopping centre
(Sylvia Park precinct)
Sylvia Park Lifestyle
(Sylvia Park precinct)
Geneva House (3 Te Kehu Way)
(Sylvia Park precinct)
ANZ Raranga
(Sylvia Park precinct)
LynnMall
The Base
Vero Centre
ASB North Wharf
The Aurora Centre

4
Kiwi Property’s competitive advantage
A leading portfolio of assets, with favourable zoning at key transport nodes
HamiltonAuckland
Zoning: Business - Metropolitan
Centre
Sylvia ParkDrury
Existing train station Planned train station
Zoning: Business - Metropolitan
Centre
Zoning: Business - Metropolitan
Centre
The Base
Zoning: Sub-regional Centre
LynnMall
35hectares
7 hectares
53hectares
30hectares

5
Sylvia Park: mixed-use in action
A mixed-use property
assetis a real estate
development that blends
multiple uses – such as
living, working, shopping, and
leisure – into one integrated
space.

6
The case for investing in Kiwi Property
New Zealand’s
foremost retail-led
mixed-use property
portfolio
Resilient asset
performance
Focused on
continued earnings
growth
Opportunities for
future development
Including the flagship Sylvia
Park precinct
Continued portfolio rental
growth and strict cost control
Strongly focused on delivering
3% p.a. earnings growth over
time, driven by strong leasing
spreads and underlying rental
growth
One of New Zealand’s most
significant development
opportunities in Drury, as well
as multiple mixed-use
development options

7
7
FY25 financial
performance

8
Strong mixed-use performance offset
slower office and retail leasing
$194.1m
Net rental income
(+5.0%)
$92.8m
Adjusted funds from operations
(-7.0%)
$116.2m
Operating profit before tax
(+7.4%)
$57.0m
Net profit after tax
(+$59.1m)
8
General note: Comparative figures relate to the FY24 period, unless otherwise stated. Refer to the Annual Results Presentation
2025 for the definition and determination of non-GAAP measures.

9
Continued rent growth
Rental growth remained strong through FY25 despite economic conditions
+4.3%
Total rental growth
(new leasing +6.1%,
rent reviews +3.7%)
$2.1b
All centres
1
sales
+8.3%
Mixed-use new leases and renewals
$887m
Sylvia Park precinct sales
+6.4%
Office new leases and renewals
37.2m
All centres
1
pedestrian count
General note: All sales include GST. Sales and pedestrian count data is for the 12 months to 31-Mar-25. Comparative figures may vary from what has been reported previously as sales figures are updated as
annual audited sales are received.
1: Includes Sylvia Park, Sylvia Park Lifestyle, LynnMall, The Base Te Awa, The Base LFR, Centre Place North and The Plaza.

10
FY26 priorities
Delivering on priorities will help to create value for shareholders
Maintain strong
discipline on costs
Continue to drive
rent growth
Progress sell-down of
Drury large format retail
sites
Goal: deliver sustainable earnings and dividend growth for shareholders
Manage the balance
sheet and free up
additional investment
capacity

11
5.40cps
Dividend and outlook
5.60cps
1: FY26 dividend guidance and payments are contingent on Kiwi Property’s financial performance through the financial year and barring material adverse events or unforeseen circumstances.
FY25 dividend
(93% AFFO payout ratio)
FY26 dividend guidance
1

+3.7%

12
Development
possibilities

13
Sylvia Park: one of New Zealand’s best property assets
Sylvia Park shopping centre
Large-format retail
Residential (build-to-rent)
Ancillary industrial

14
Sylvia Park: future possibilities

15
Expected to
open late
2025
~34,000
sqm
Sylvia Park: IKEA

16
Sylvia Park: proposed projects – Pedestrian Plaza

17
Sylvia Park: proposed projects – Asian supermarket

18
Sylvia Park: proposed projects – gym

19
Sylvia Park: future possibilities – office / hotel

20
LynnMall: future mixed-use tower

21
The Base: Level 1 development

22
•Development in two stages:
•Stage 1: large-format retail and
residential lots
•Stage 2: mixed use development
•Stage 1 land intended to be sold, helping to
fund Stage 2
•We can realise development profits on the
portions of land that we sell, recognising
the value that we have added to the site
22
RESIDENTIAL
April 2025:
First block of
land sold to
Foodstuffs
(boundary lines indicative only)
Drury development
Land sales set to enable the next stage of
development

23
Thank you
Questions?

24
Disclaimer
Kiwi Property Group Limited has prepared this document, and it is
subject to the following terms.
This document does not constitute advice of any kind whatsoever
(including but without limitation investment, financial, tax, accounting
or legal advice) and must not be relied upon as such. This document is
intended to provide general information only and does not take into
account your objectives, situation or needs.
An investment in the financial products of Kiwi Property Group Limited
is subject to investment and other known and unknown risks, some of
which are beyond the control of Kiwi Property Group Limited. Kiwi
Property Group Limited does not guarantee its performance or the
performance of any of its financial products unless and to the extent
explicitly stated in a prospectus or product disclosure statement or
other offering document.
This document is for information purposes only and is not an invitation
or offer of financial products for subscription, purchase or sale in any
jurisdiction. This document is not a prospectus or product disclosure
statement or other offering document under New Zealand law or any
other law. This document does not constitute an offer to sell, or a
solicitation of an offer to buy, any securities in the United States and
will not be lodged with the U.S Securities Exchange Commission.
Kiwi Property makes no representation or warranty, express or implied,
as to the accuracy, completeness, reliability or sufficiency of the
information in this document or the reasonableness of the
assumptions in this document. All images (including any dimensions)
are for illustrative purposes. Kiwi Property Group Limited, its advisers,
affiliates, related bodies corporate, directors, officers, partners,
employees and agents (together ‘Kiwi Property’) expressly exclude
and disclaim any and all liability which may arise from this document,
any information provided in connection with this document, any errors
in or omissions from this document, from relying on or using this
document or otherwise in connection with this document.
Past performance information given in this document is given for
illustrative purposes only and should not be relied upon as (and
is not) an indication or guarantee of future performance. This
document contains certain “forward-looking statements” such
as indications of, and guidance on, future earnings and financial
position and performance. The forward-looking statements
contained in this document are not guarantees or predictions of
future performance and involve known and unknown risks and
uncertainties. There is no assurance or guarantee that actual
outcomes will not materially differ from these forward-looking
statements.
Any sales information included in this document has been
obtained from third parties or, where such information has not
been provided by third parties, estimated by Kiwi Property
based on information available to it. Sales information has not
been independently verified and may not be complete.