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Charter Hall Long WALE REIT 2026 Annual General Meeting Charter Hall Long WALE REIT 2026 Annual General Meeting ASX:CLW
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Click icon to add picture Charter Hall Long WALE REIT 2026 Annual General Meeting 2 1. Independent Chair’s Address: Glenn Fraser 2. Diversified CEO and CLW Fund Manager’s Address: Avi Anger 3. Questions Agenda Front cover: Coles Distribution Centre, Perth WA (completed expansion facility) Acknowledgement of Country Charter Hall acknowledges the Traditional Custodians of the lands on which we work and gather. We pay our respects to Elders past and present and recognise their continued care and contribution to Country. Charter Hall managed asset NAIDOC Week at 130 Lonsdale Street, Melbourne VIC Charter Hall Long WALE REIT 2026 Annual General Meeting 2
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Charter Hall Long WALE REIT 2026 Annual General Meeting 3 1 Sonic Healthcare Brisbane, QLD Independent Chair’s Address: Glenn Fraser
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Charter Hall Long WALE REIT 2026 Annual General Meeting Independent Chair’s Address 4 Board of Directors Glenn Fraser Independent Chair David Harrison Managing Director & Group CEO Ray Fazzolari Independent Non-Executive Director Ceinwen Kirk-Lennox Independent Non-Executive Director Darryl Chua CLW Deputy Fund Manager Avi Anger Diversified CEO & CLW Fund Manager Management Team Carmel Hourigan Office CEO and Institutional Client Services Erin Kent Head of Diversified Finance Belinda Robson Independent Non-Executive Director Michael Gorman Independent Non-Executive Director
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Charter Hall Long WALE REIT 2026 Annual General Meeting Hospitality 26% Energy & convenience retail 12% Long WALE retail 7% Industrial & logistics 22% Data centres & social infrastructure 17% Office 16% Independent Chair’s Address CLW: Australia’s largest diversified Net Lease REIT $6.1 billion portfolio valuation1 Diversified, long WALE portfolio 505 99.9 % 99% 3.1% 51% properties occupancy2 leased to blue-chip tenants2 average annual net property income growth NNN leases2 9.2 years portfolio WALE 5 Charter Hall Long WALE REIT 2026 Annual General Meeting Coles Distribution Centre Perth, WA 2. Stabilised portfolio weighted by net passing income as at 30 June 2026 1. Includes CLW’s ownership of Coles CoreWest Distribution Centre, Truganina VIC based on forecast on-completion value
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Charter Hall Long WALE REIT 2026 Annual General Meeting FY26 Sustainability achievements 6 Independent Chair’s Address By integrating sustainability across our platform and leveraging our scale, we attract and retain capital while delivering for our customers and employees – creating enduring value for all. Net Zero1 Maintained Net Zero Scope 1 and Scope 2 emissions supported by Charter Hall Group’s renewable energy and nature- based offset strategy. Community partnerships Continued community activations across our office assets to support local organisations. Charter Hall Group employees contributed 3,700+ volunteering hours, supporting social enterprises across local communities. ESG leadership Scored 82 points in the 2025 GRESB assessment, a 4-point uplift from last year. Maintained an ‘A’ ranking under the GRESB Public Disclosure, demonstrating strong transparency and continual improvement. Clean energy 8.7MW of installed solar capacity, with 96% supplying tenants directly. 11MWh of installed battery capacity across CLW Industrial portfolio. Natural disaster relief and recovery Charter Hall Group invested $350,000 with Red Cross and Foundation for Rural & Regional Renewal to support Australian communities impacted by natural disasters and hardship. Independent benchmarking Contributed to Charter Hall Group maintaining Australia’s largest Green Star Performance certified portfolio, with over 1m sqm of rated space. NABERS energy 5.4 Star NABERS Energy portfolio rating for office assets 2. 4.7 Star NABERS Water portfolio rating for office assets 2. First Nations Continued to advance Charter Hall Group's reconciliation commitments by hosting our first First Nations Work Experience Day, connecting students with Charter Hall professionals and leaders to explore future career opportunities. Responsible supply chain Strengthened frontline employees' capability to identify and respond to modern slavery risks, and deepened industry collaboration to support ongoing knowledge-sharing. Further detail is available in our sixth Modern Slavery Statement. Governance Environment Social 1. For assets which the REIT owns and where Charter Hall Group has operational control, Charter Hall Group has offset Scope 1 re lated emissions and procured 100% grid-supplied renewable electricity for Scope 2 emissions since FY24 to reach Net Zero 2. The NABERS portfolio rating only includes assets in operational control. Data as of 30 June 2026
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Charter Hall Long WALE REIT 2026 Annual General Meeting 7 2 Coles CoreWest Distribution Centre, Truganina (under construction) Melbourne, VIC Diversified CEO and CLW Fund Manager’s Address: Avi Anger
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Charter Hall Long WALE REIT 2026 Annual General Meeting 8 To provide investors with stable and secure income and targeting both income and capital growth through an exposure to a diversified portfolio of long WALE properties leased to corporate and government tenants CLW Fund Manager’s Address Strategic Portfolio Curation Enhanced by: Active Asset Management Prudent Capital Management CLW: Australia’s largest diversified Net Lease REITCLW Diversified Long WALE Net Lease Strategy Net Lease Real Estate Long term leases Resilient and predictable cashflows Portfolio diversification By tenant, industry, location and property type Capital efficient leases Tenant pays for the majority of property expenses Blue-chip tenants Best-in-class operators in essential industries reduces default risk Mission-critical properties Reducing tenant relocation or vacancy risk Growing income profile Leases have annual contracted rent increases Charter Hall Long WALE REIT 2026 Annual General Meeting
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Charter Hall Long WALE REIT 2026 Annual General Meeting CLW Fund Manager’s Address 9 Financial performance Portfolio performance Capital management Operating EPS and DPS of 25.5 cents per security in line with guidance and reflecting 2% annual growth from FY25 $248 million of earnings accretive net acquisitions active asset curation continues to enhance portfolio quality and drive earnings growth Secured debt platform transition comprehensive refinance of balance sheet debt, establishing a new $2.0 billion secured platform $4.71 NTA per security 2.6% increase from 30 June 2025 $188 million net valuation uplift 3.2% increase in property valuations during FY26 Debt margin reduction 20 basis point reduction to 1.2% across balance sheet debt 3.1% average annual net property income growth with 54% of lease rent reviews2 being CPI linked and the balance being fixed reviews 9.2 year WALE providing long term income security 27.5% balance sheet gearing3 at the lower end of 25% – 35% target range FY26 full year highlights1 1. Figures and statistics throughout this presentation are for the 12 months to 30 June 2026 unless otherwise stated 2. Weighted by net passing income as at 30 June 2026 3. Pro forma adjusted to reflect post -balance date transactions 4. Based upon information currently available and barring unforeseen events FY27 guidance4 Operating EPS 25.5 cps DPS 25.5 cps
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Charter Hall Long WALE REIT 2026 Annual General Meeting Implementation of a new $2 billion secured debt platform 10 Complete refinance of CLW’s balance sheet debt – extended maturity, reduction in debt cost and increased covenant headroom Debt maturity extended – Average debt maturity extended by 1.6 years to 4.3 years across balance sheet debt, securing long dated financing arrangements – Staggered maturities from FY29 to FY32 minimising future refinance risk – 10 separate lending counterparties providing lender diversification Reduction in cost of debt – $2 billion debt platform refinanced with an average 1.2% credit margin – Reflects a 20 basis point reduction from prior debt facilities, providing an immediate interest cost savings and earnings accretion Enhanced covenant flexibility – Improved covenant package – Balance sheet LVR covenant – 65% – ICR covenant – 1.50x – Increased headroom to covenants – No look through covenants Increased covenant headroom and reduction in cost of debt provides the REIT with greater long term financial flexibility CLW Fund Manager’s Address
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Charter Hall Long WALE REIT 2026 Annual General Meeting Predictable growing income – Predictable, long-term rental cashflow – 9.2 year WALE and 30 year WALE+ – 3.1% average annual rent increases – Inflation protection with 54% 1 of lease rent reviews CPI linked – Minimal landlord expenses with 89% 1 capital-efficient net, double net or triple net leases Blue-chip tenant covenants – Portfolio occupancy consistently near 100% since IPO in 2016 – 99% leased to secure government and leading ASX -listed, multinational and national tenants – Tenant diversification across non-discretionary, essential industries Diversified properties located in prime locations – Diversified across core property sectors – Geographically diversified with 79% of the portfolio located on the Eastern Seaboard in prime locations CLW Fund Manager’s Address 11 Benefits of CLW’s long WALE, Net Lease strategy 1. By net passing income 2. WALE+ includes the exercise of all lease option terms for CLW’s NNN portfolio 30 years portfolio WALE+2 100% of leases have annual contracted rent increases + NSW 32% VIC 24% QLD 17% WA 12% ACT 6% SA 5% NZ 3% NT & TAS 1% Sonic Healthcare Brisbane, QLD
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Charter Hall Long WALE REIT 2026 Annual General Meeting CLW Fund Manager’s Address 12 Strategy has delivered significant value for CLW investors since IPO Leveraging Charter Hall Group’s market leading diversified platform and sale and leaseback transaction expertise ~$1 bn equity invested in long WALE, NNN lease assets through sale and leaseback transactions +$1.2 bn of equity value created and income generated +123% total return on invested equity 1. Investments with no joint venture level debt – equity values implied based on average CLW gearing over investment period 2. Includes equity proceeds from properties divested from the Veolia / Cleanaway portfolio over investment period Net Lease investment (WALE at acquisition) CLW investment period Equity invested Current equity value + total rent or income received Total value created Veolia / Cleanaway portfolio1 (15 year WALE) 9.6 years $51m $80m + $69m2 $98m (+191%) Equity IRR: 16% LWIP portfolio (18 year WALE) 9.6 years $237m $499m + $164m $426m (+180%) Equity IRR: 16% bp Australia portfolio (20 year WALE) 6.5 years $208m $383m + $121m $296m (+142%) Equity IRR: 17% Arnotts Huntingwood1 (32 year WALE) 6.5 years $119m $195m + $48m $125m (+104%) Equity IRR: 13% Telstra Exchanges portfolio (21 year WALE) 6.8 years $141m $210m + $72m $140m (+99%) Equity IRR: 12% bp New Zealand portfolio1 (20 year WALE) 5.5 years $73m $110m + $34m $71m (+97%) Equity IRR: 16% David Jones1 (20 year WALE) 5.3 years $153m $159m + $53m $58m (+38%) Equity IRR: 7% Total $983m $1,636m + $561m $1,213m (+123%) Equity IRR: 15%
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Charter Hall Long WALE REIT 2026 Annual General Meeting CLW Fund Manager’s Address 1. Based on forecast CLW FY27 DPS guidance of 25.5 cents divided by the closing price of CLW securities of $3.22 as at 14 Octobe r 2026 2. Reserve Bank of Australia (RBA) as at 30 September 2026 3. Simple average dividend yield FY27 consensus forecasts (excluding franking credits) 4. Weighted average distribution yield FY27 (broker forecast as at 12 October 2026) 5. Weighted average dividend yield of index reported by ASX listed ETF as at 28 September 2026 (excluding franking credits) 13 CLW provides an attractive distribution yield 7.9% 5.0% 5.3% 4.1% 3.8% 3.2% CLW FY27 DPS Guidance (Share Price) Avg. 12-month Aus term deposit rate Aus 10-year Gov Bond Yield Aus 4 largest banks FY26 avg. DPS Yield Weighted avg. AREIT DPS Yield ASX200 Dividend Yield 1 2 3 4 52
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Charter Hall Long WALE REIT 2026 Annual General Meeting 14 CLW Fund Manager’s Address Increased exposure to long WALE, critical social infrastructure properties in strategic locations Investment activity highlights 1414 Social infrastructure Telco Exchanges portfolio, National − Increased investment in the Telco Exchanges portfolio, a portfolio of 36 telco exchange properties leased to Telstra Corporation, which are critical to Australia’s national fibre telecommunications networks − The portfolio features NNN leases across all properties and inflation linked annual rent escalations (CPI + 50bps), with a weighted average lease term of 14.4 years remaining at settlement − Purchase price of $63.0 million for CLW’s increased interest 1 − Settled in April 2026 Sonic Healthcare, Brisbane QLD − Acquisition of a 25% interest in a world-class integrated pathology laboratory fully leased to Sonic Healthcare Limited located in Brisbane, Queensland − The property is Sonic’s central laboratory for Queensland, the Northern Territory and parts of New South Wales, supporting a network of over 450 pathology collection centres − 20 year NNN lease to Sonic, with a further 30 years of options featuring annual CPI linked reviews (capped at 3.5%) − Purchase price of $53.4 million 2 − Settled post balance date in July 2026 Lonsdale Exchange, Melbourne CBD 1. Reflects CLW’s consideration for acquiring a 14.1% interest in Charter Hall Exchanges Wholesale Trust (which owns 49% of the Telstra Exchanges portfolio) 2. Reflects CLW’s consideration for a 25% equity interest Kent Street Exchange, Sydney CBD
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Charter Hall Long WALE REIT 2026 Annual General Meeting 15 CLW Fund Manager’s Address Active asset management and development capability to increase portfolio WALE 1515 Industrial & logistics Coles Distribution Centre, Perth Airport WA − During 2H FY26, practical completion was reached for the cold storage expansion works at Coles’ Perth Airport Distribution Centr e − At practical completion, the lease term remaining has reset to 12 years across the entire facility (ie. the expanded area and existing facility) Coles CoreWest Distribution Centre, Truganina VIC − In November 2025, CLW acquired a 49.9% interest in a super prime, automated distribution centre currently under construction in the core industrial market of Truganina in Melbourne’s West − The facility is 100% pre-leased to Coles for an initial 20 year term − Delivery of the facility is progressing ahead of program and forecast to reach completion in 2H FY27 − On completion, the facility will be a 68,100 sqm state of the art distribution centre and is expected to service all stores i n Victoria and Tasmania and will integrate into Coles’ existing supply chain in South Australia and Western Australia, with significant investment by Coles in the automation capabilities of the facility − Demonstrates Charter Hall’s ability to create long WALE, high quality investment opportunities for CLW Convenience Net Lease retail Bunnings, Mackay South QLD − Bunnings has exercised its option for a further 6 year term from the current lease expiry − Following the exercise of option, remaining lease term increases to 6.4 years
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Charter Hall Long WALE REIT 2026 Annual General Meeting CLW Fund Manager’s Address 1. Includes CLW’s ownership interest in the Coles CoreWest Distribution Centre, Truganina VIC based on forecast on -completion valuation 4. Weighted average across fixed and CPI linked reviews with the majority of CPI linked reviews based on the September annual CPI p rint. In FY26, average CPI was 3.0%. 2. Weighted by valuation as at 30 June 2026 (REIT ownership interest) 3. Weighted by net passing income as at 30 June 2026 16 Key metrics June 2025 June 2026 Number of properties 510 505 Property valuation ($m) 5,455 6,1131 Weighted Average Capitalisation Rate2 (WACR) 5.4% 5.4% Occupancy3 99.9% 99.9% Weighted Average Lease Expiry3 (WALE) 9.3 years 9.2 years Portfolio exposure to NNN leases3 54% 51% Portfolio exposure to CPI linked reviews3 54% 54% Weighted Average Rental Review3 (WARR) 3.1% 3.1%4 Sector Assets Valuation1 ($m) % of Portfolio2 Cap rate2 WARR3,4 WALE (years)3 Occupancy3 Convenience Net Lease retail 434 2,743 44.9% 4.9% 3.1% 8.8 100.0% Industrial & logistics 13 1,324 21.7% 5.0% 3.2% 13.9 100.0% Data centres & social infrastructure 43 1,043 17.1% 5.9% 2.9% 9.4 100.0% Office 15 1,003 16.4% 6.9% 3.1% 5.6 99.7% Total / weighted average 505 6,113 100.0% 5.4% 3.1% 9.2 99.9% Diversified across geography, real estate sector and tenant industries $6.1 billion diversified portfolio of high-quality real estate
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Charter Hall Long WALE REIT 2026 Annual General Meeting Defensive and resilient to economic shocks 17 Woolworths Distribution Centre, Melbourne Telstra Exchanges Portfolio bp Mosman, Sydney 12 Shelley Street, Sydney Arnott’s Huntingwood, Sydney Focus on key defensive tenant industries1 CLW Fund Manager’s Address Grocery & distribution (13%) Energy & convenience retail (11%) Hospitality convenience retail (20%) Data centres & telecommunications (13%) Banking & professional services (6%) Other2 (12%)Food manufacturing (3%) Sonic Healthcare, Brisbane Breakfast Creek Hotel, BrisbaneGeosciences Australia, Canberra Government (21%) 1. Weighted by net passing income as at 30 June 2026 2. Includes retail, healthcare and waste management Note: totals may not add due to rounding
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Charter Hall Long WALE REIT 2026 Annual General Meeting Australia’s largest diversified Net Lease REIT Predictable, long-term rental cashflow Enhance portfolio through curation & capital recycling Diversification across key asset classes Blue-chip, best-in-class tenant customers Mission critical assets for tenant customer operations 18 CLW Fund Manager’s Address 1. Based upon information currently available and barring unforeseen events 2. Based on forecast CLW FY27 DPS guidance of 25.5 cents divided by the closing price of CLW securities of $3.22 as at 14 Octobe r 2026 Outlook and guidance FY27 guidance1 Operating earnings per security 25.5cps Distributions per security 25.5cps CLW’s strategy is to provide investors with stable and secure income and targeting both income and capital growth through an exposure to a diversified portfolio of long WALE properties leased to corporate and government tenants. The portfolio maintains a long 9.2 year WALE. Occupancy remains near 100% with leases to secure, blue-chip tenants. All leases have annual rent increases which contributes to CLW’s growing income profile. Active curation and asset recycling continues to enhance portfolio and tenant quality, with recent transaction activity included in the FY27 guidance. Representing a distribution yield2 of 7.9%
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Charter Hall Long WALE REIT 2026 Annual General Meeting 19 3 Coles CoreWest Distribution Centre, Truganina (under construction) Melbourne, VIC Questions
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Charter Hall Long WALE REIT 2026 Annual General Meeting 20 4 Woolworths Distribution Centre Melbourne, VIC Items of Business
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Charter Hall Retail REIT 2025 Annual General Meeting 21 Items of Business Resolution 1 Election of Independent Director – Belinda Robson To consider, and if thought fit, pass the following advisory, non-binding resolution of the Securityholders: “That Ms Belinda Robson be elected as a director of Charter Hall WALE Limited.”
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Charter Hall Long WALE REIT 2026 Annual General Meeting Resolution 1 – Proxies Election of Independent Director – Belinda Robson 22 FOR: 98.12% OPEN: .47% AGAINST: 1.41% Items of Business
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Charter Hall Long WALE REIT 2026 Annual General Meeting 23 5 Coles Distribution Centre Perth, WA Meeting Closed
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Charter Hall Long WALE REIT 2026 Annual General Meeting charterhall.com.au/clw IMPORTANT NOTICE & DISCLAIMER This presentation ("Presentation") has been prepared by and is the sole responsibility of Charter Hall WALE Limited (ABN 20 610 772 202, Australian Financial Services Licence Number 486721) (“Responsible Entity”) as the responsible entity for each of Charter Hall Direct Industrial Fund (ARSN 144 613 641) and LWR Finance Trust (which will collectively comprise the “Long WALE REIT”). It is a presentation of general background information and the Long WALE REIT’s activities as at 30 June 2026 unless otherwise stated. It is a summary and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. A reader should, before making any decisions in relation to their investment or potential investment in the Long WALE REIT, seek their own professional advice. This presentation is not an offer or invitation for subscription or purchase of securities or other financial products. Indications of, and guidance on, future earnings and financial position and performance are “forward-looking statements”. Due care and attention has been used in the preparation of forward looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Long WALE REIT, that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. All information herein is current as at 30 June 2026 unless otherwise stated, and all references to dollars ($) or A$ are Australian Dollars unless otherwise stated. Investor Relations Tel 1300 365 585 (within Australia) +61 2 8651 9000 (outside Australia) Email reits@charterhall.com.au Presentation authorised by the Board Further information