Annual report
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Dexus Convenience Retail REIT dexus Dexus Convenience Retail REIT ( ASX : DXC ) ASX release 10 August 2026 2026 Annual Report Dexus Convenience Retail REIT ( DXC ) provides its 2026 Annual Report , which will be mailed to Security holders who have elected to receive a hard copy in September 2026 . Authorised by the Board of Dexus Asset Management Limited For further information please contact : Investors Pat De Maria Fund Manager +61 421 569 984 pat.demaria@dexus.com Media Luke O'Donnell Senior Manager , Media and Communications +61 412 023 111 luke.odonnell@dexus.com About Dexus Convenience Retail REIT Dexus Convenience Retail REIT ( ASX code : DXC ) is a listed Australian real estate investment trust which owns high quality fuel and convenience retail assets . At 30 June 2026 , the fund's portfolio is valued at approximately $ 779 million , is predominantly located on Australia's eastern seaboard and leased to leading Australian and international convenience retail tenants . The portfolio has a long lease expiry profile and contracted annual rent increases , delivering the fund a sustainable and strong level of income security . The fund has a conservative approach to capital management with a target gearing range of 25-40 % . Dexus Convenience Retail REIT is governed by a majority Independent Board and managed by Dexus ( ASX code : DXS ) , a leading Australasian fully integrated real asset group with more than four decades of expertise in real asset investment , funds management , asset management , and development . www.dexus.com Dexus Asset Management Limited ( ACN 080 674 479 , AFSL No. 237500 ) ( the " Responsible Entity " ) is the responsible entity and issuer of financial products in respect of Convenience Retail REIT No.1 ( ARSN 101 227 614 ) , Convenience Retail REIT No.2 ( ARSN 619 527 829 ) and Convenience Retail REIT No.3 ( ARSN 619 527 856 ) collectively the Dexus Convenience Retail REIT ( ASX code : DXC ) stapled group . The Responsible Entity is a wholly owned subsidiary of Dexus ( ASX code : DXS ) . The registered office and principal place of business for the Responsible Entity is Level 30 , 50 Bridge Street , Sydney NSW 2000 .
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Annual Report 2026 Dexus Convenience Retail REIT
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Dexus Convenience Retail REIT Dexus Convenience Retail REIT is a listed Australian real estate investment trust which owns high-quality fuel and convenience assets, providing sustainable income through long leases, annual rent increases and disciplined capital management. Dexus Convenience Retail REIT 2026 Annual Report 219 Westphalen Drive, Warrego QLD
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Contents FY26 highlights 02 Operating and financial review 28 About Dexus Convenience Retail REIT 04 Auditor’s Independence Declaration 37 Fund Manager’s letter 08 Financial statements 38 Sustainability overview 10 Independent Auditor’s Report 64 Governance 18 Investor information 68 Financial report 25 Additional information 71 Directors’ report 26 Directory 73 Dexus Convenience Retail REIT Annual Reporting suite Annual Report Annual Results Presentation Corporate Governance Statement Sustainability Data Pack1 Dexus Climate Transition Action Plan1 Management Approach & Procedures1 Modern Slavery Statement1 About this Report The 2026 Annual Report is a consolidated summary of Dexus Convenience Retail REIT’s (DXC) performance for the financial year ended 30 June 2026. It should be read in conjunction with the reports that comprise the 2026 Annual Reporting suite available from www.dexus.com/dxc . In this report, unless otherwise stated, references to ‘DXC’, ‘the Fund’, ‘we’ and ‘our’ refer to ASX listed entity of Dexus Convenience Retail REIT. Any reference in this report to a ‘year’ relates to the financial year ended 30 June 2026 and all dollar figures are expressed in Australian dollars unless otherwise stated. The Board acknowledges its responsibility for the 2026 Annual Report and has been involved in its development and direction from the beginning. The Board reviewed, considered and provided feedback during the production process and approved the Annual Report at its August 2026 meeting. Acknowledgement of country Dexus Convenience Retail REIT acknowledges the Traditional Custodians of the Lands on which our business and assets operate, and recognises their ongoing contribution to Land, waters and community. We pay our respects to First Nations Elders past and present. Artist – Sharon Smith Artwork – Changing of the Land 1 Reports are available at dexus.com/dxs. The FY26 Sustainability Data pack will be available on 20 August 2026. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 1 Convenience Retail REIT No. 1 ARSN 101 227 614 Convenience Retail REIT No. 2 ARSN 619 527 829 Convenience Retail REIT No. 3 ARSN 619 527 856 Dexus Asset Management Limited ACN 080 674 479 AFSL 237 500 as responsible entity for Dexus Convenience Retail REIT (which comprises the above mentioned three trusts which are stapled to each other).
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FY26 highlights Delivered FFO and distributions in line with guidance driven by resilient like-for-like income growth, a high-quality and diverse tenant base and an active capital management approach. Financial 20.9cps FFO per security FY25: 20.7cps 20.9cps Distribution per security FY25: 20.7cps $3.86 NTA per security FY25: $3.64 Capital management 30.6% Gearing FY25: 29.4% 4.2 years Weighted average debt maturity FY25: 4.5 years 66% Average hedged debt FY25: 72% 2 Dexus Convenience Retail REIT 2026 Annual Report
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Portfolio +3.3% Average rent review achieved FY25: +3.1% 99.2% Occupancy (by income) FY25: 99.9% 7.6 years Weighted average lease expiry (by income) FY25: 7.9 years Sustainability Net zero Net zero maintained for Scope 1 and 2 emissions for managed portfolio1 100% Renewable energy sourced for managed portfolio Development Glass House Mountains (Northbound) redevelopment includes six EV charging bays with capacity for a further four bays 1 Covers Scope 1 and 2 emissions across DXC controlled operations as part of the Dexus managed portfolio, which received limited assurance. Net emissions for the 12 months ended 30 June 2026 include offsets purchased and allocated for retirement during the year and up to the date of this announcement. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 3
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About Dexus Convenience Retail REIT Dexus Convenience Retail REIT’s high-quality Australian fuel and convenience retail assets provide a high level of income security for investors. 4 Dexus Convenience Retail REIT 2026 Annual Report $779m Portfolio value 7.6 years WALE (by income) 91 Properties 6.18% Weighted average cap rate 99.2% Occupancy (by income) 77% Weighting to eastern seaboard Glass House Mountains Northbound, QLD
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At 30 June 2026, DXC’s portfolio is valued at $779 million and is predominantly located on Australia’s eastern seaboard and leased to leading Australian and international convenience retail tenants. The portfolio has a long-weighted average lease expiry and benefits from contracted annual rent increases, providing a high level of income security. The Fund has a conservative approach to capital management with a target gearing range of 25–40%. Dexus Convenience Retail REIT (ASX code: DXC), is governed by a majority independent Board and managed by Dexus (ASX code: DXS), a leading Australasian fully integrated real asset group. Since its IPO in mid-2017, DXC has provided investors with secure portfolio income growth, with the total portfolio value growing from $287 million to $779 million over this period. DXC’s performance has been supported by strong business fundamentals including: – Tenant quality and diversification – A valuable land bank – Property enhancement initiatives – Capital management discipline – Strategic value-enhancing transactions. Portfolio overview Portfolio value by classification Portfolio reflects valuable landbank with national presence 63% Metropolitan 23% Highway 14% Regional FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 5 Western Australia $65.4m valuation 8.4% of total portfolio value 10 properties Queensland $462.2m valuation 59.3% of total portfolio value 52 properties South Australia $113.1m valuation 14.5% of total portfolio value 16 properties New South Wales $127.3m valuation 16.3% of total portfolio value 11 properties Victoria $10.9m valuation 1.4% of total portfolio value 2 properties
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25% 22% 14% 13% 4% 4% 4% 9% 5% Chevron Viva Energy Ampol 7-Eleven Australia United BP Mobil Other QSR and national tenants Other Non Fuel Tenants Investment proposition Providing investors with exposure to defensive income with embedded growth. Defensive and growing income Active portfolio management Prudent capital structure Aligned manager with deep real asset capability – Diverse mix of high-quality national and international tenants – Fixed and CPI linked rental escalators – Long WALE and high occupancy – Enhancing portfolio quality through strategic metro and highway exposure – Increasing convenience retail/ QSR exposure – Selective asset recycling to support portfolio quality and capital flexibility – Preserve balance sheet flexibility – Strategic hedging to reduce rate exposure – Maintain disciplined capital allocation, including the securities buyback – Dexus is committed to delivering performance for investors across its funds management platform – Leveraging insights across transactions, developments, asset management, treasury and sustainability 3.0% Like-for-like income growth 3.3% Average rent review 7.8% Distribution yield1 66% Average debt hedged 30.6% Gearing 9% Dexus principal ownership Tenancy mix by income Rent review type by income 1 Based on the closing security price as at 7 August 2026. 6 Dexus Convenience Retail REIT 2026 Annual Report Diverse tenant mix with major tenants accounting for 86% of portfolio income Embedded property income growth with +3.3% weighted average rent review l 73% Fixed review l 12% CPI with 3-5% caps l 5% CPI linked review l 8% Higher of 'agreed fixed amount' or CPI l 2% CPI + fixed increase
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About Dexus Dexus is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real asset portfolio valued at $51.5 billion1. The Dexus Platform includes the Dexus listed portfolio and the funds management business, of which Dexus Convenience Retail REIT forms a part. The $15.3 billion1 Dexus listed portfolio includes direct and indirect ownership of office, industrial, retail, and other real assets. Dexus manages a further $36.2 billion1 of investments in its funds management business which connects third party capital with exposure to quality sector specific and diversified real asset products. The funds within this business have a track record of delivering performance and benefit from Dexus’s Platform capabilities. The Platform’s $11.5 billion1 real estate development pipeline provides the opportunity to grow both the listed and funds’ portfolios and enhance future returns. Dexus is deeply connected to its purpose; unlock potential, create tomorrow, reflecting its unique ability to create value for its people, customers, investors and communities over the long term. Dexus is listed on the Australian Securities Exchange (ASX code: DXS) and is supported by more than 35,8001 investors from 261 countries. With more than four decades of expertise in real asset investment, funds management, asset management and development, Dexus has a track record in capital and risk management and delivering returns for its investors. 1 As at 31 December 2025. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 7 100 East-West Arterial Road, Hendra QLD
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Fund Manager’s letter FY26 demonstrated the defensive qualities of DXC’s portfolio. Resilient income was underpinned by high occupancy, strong tenant covenants and contracted rental growth. “Disciplined capital allocation, portfolio recycling and selective growth initiatives continue to enhance long-term value for Security holders.” Despite rising interest rates in the second half, the Fund maintained a disciplined approach to capital management and continued to improve the Fund's income security and quality. During the year, DXC continued to execute a proactive portfolio and capital management strategy, including an expanded on-market securities buy- back, the divestment of three smaller assets above book value, entering into agreements to acquire two fund-through development opportunities, subject to conditions precedent and additional hedging activity to improve earnings visibility. As the interest rate cycle turned, DXC has retained its focus on delivering long-term value for Security holders through: – Generating defensive income with embedded rental growth – Actively managing and enhancing the portfolio – Maintaining a prudent capital structure – Allocating capital with discipline to the most value-accretive opportunities, including the on-market securities buy-back – Leveraging Dexus’s capabilities across transactions, development, asset management and treasury. The DXC portfolio comprises 91 convenience retail assets valued at $779 million, located primarily along Australia's eastern seaboard and underpinned by high-quality tenant covenants, with 95% of income derived from major national and international tenants. Our exposure to metro and highway assets is 86%, with these assets benefitting from higher traffic flows, attractive underlying land characteristics and flexibility to adapt over time as consumer demand for convenience retail spend continues to evolve. We are well placed to support our tenants on this journey given low average site coverage providing the potential for asset expansion opportunities over time. DXC maintained close to full occupancy and a weighted average lease expiry of 7.6 years, providing a resilient income stream supported by contracted rental growth. We have deliberately diversified our tenant base over time, with our top tenant Chevron representing 25% of total income, down from 53% six years ago. Corporate activity across the fuel and convenience retail sector continues to reinforce the strategic value of well- located convenience retail assets and supports our positive long-term outlook. Recent transactions include: – Ampol’s acquisition of EG Australia for ~$1.2b completed in June 2026 – Eneos Holding’s (~A$32bn, Tokyo Stock Exchange -listed company) proposed acquisition of Chevron’s downstream business in Southeast Asia, including ~382 Australian assets while retaining the Caltex brand. 8 Dexus Convenience Retail REIT 2026 Annual Report Pat De Maria Fund Manager Dexus Convenience Retail REIT
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We delivered solid financial results for the 2026 financial year, with portfolio like-for-like net operating income growth of 3.0% reflecting the portfolio’s embedded annual fixed and CPI-linked rental escalators. FFO and distributions per security were 20.9 cents, in-line with guidance of 20.9 cents. This outcome reflects the portfolio’s contracted rental growth and continued high occupancy, partly offset by higher funding costs and the impact of prior asset divestments. Statutory net profit after tax was $56.4 million, up from $39.4 million in FY25, reflecting property valuation gains during the year. Gearing of 30.6% is toward the lower end of the Fund's 25-40% target range and the Fund has no debt expiries until FY28. During the year, we continued to actively manage our capital position. We extended and increased $145 million of debt facilities at lower average margins, maintained a long average debt maturity of 4.2 years and undertook approximately $200 million of hedging activity to improve earnings visibility and reduce exposure to interest rate volatility. Capital allocation remained a key focus during FY26, with management actively assessing the most effective use of capital. With DXC securities trading at a discount to NTA during the year, the buy- back represented an attractive use of capital and increased from 2.5% to 5.0% of securities on issue. We also exchanged contracts to divest three smaller assets for a combined sale price of $8.0 million representing a 1.4% average premium to book value with proceeds supporting ongoing portfolio enhancement and capital management initiatives. Portfolio valuation outcomes were supported by contracted rental growth, the completion of Glass House Mountains Northbound and continued transaction activity across the fuel and convenience retail sector. In the 12 months ended 30 June 2026, valuations resulted in an estimated net uplift of $27.4 million, with the weighted average capitalisation rate remaining stable at 6.18%1 which remains above the marginal cost of debt. DXC's development strategy focuses on creating value by securing difficult to replicate sites that deliver attractive returns. Glass House Mountains Northbound is complete and fully leased, with Viva Energy/On the Run now trading alongside McDonald's, KFC and Guzman y Gomez. The development has an average WALE of 18 years, derives 43% of income from QSR retailers, and delivered a 17% development project IRR and 5.8% yield on cost, demonstrating the value created through DXC’s development strategy. The forward pipeline comprises Glass House Mountains Southbound and the two fund-through developments at Mayfield and Bulahdelah, NSW. These projects remain subject to conditions precedent, including lease finalisation, development approval and satisfaction of return hurdles. Sustainability remains an important part of DXC’s approach to portfolio management. We continue to align with the Dexus sustainability strategy, which is focused on Customer prosperity, Climate action, and Enhancing communities. DXC maintained 100% renewable electricity and net zero2 on Scope 1 and 2 emissions across its controlled operations for FY26. Sustainability initiatives have been embedded into the design of our development projects, including planned electric vehicle charging stations, rooftop solar, rainwater harvesting, grey water reuse and new fuel tank technology. Looking ahead, DXC remains focused on delivering resilient income to our security holders. Consistent with this objective, DXC has updated its distribution policy to target a payout ratio of 95–110% of FFO, providing flexibility to maintain distributions at 20.9 cents per security in FY27 as the Fund transitions to a higher interest rate environment. Contracted rental growth is expected to drive payout ratio normalisation over time. Barring unforeseen circumstances, for the 12 months ended 30 June 2027 we expect distributions of 20.9 cents per security3, reflecting an attractive distribution yield of 7.8%4 for our investors. Thank you for your continued investment in Dexus Convenience Retail REIT. Pat De Maria Fund Manager Dexus Convenience Retail REIT 1 Includes Glass House Mountains (Northbound) as a stabilised asset and excludes three assets held for sale (1 Wishart Street, Gwelup WA, 1 Flinders Street, Monto QLD and 74 Connor Street, Zilzie QLD). 2 Covers Scope 1 and 2 emissions across DXC controlled operations as part of the Dexus managed portfolio, which received limited assurance. Net emissions for the 12 months ended 30 June 2026 include offsets purchased and allocated for retirement during the year and up to the date of this announcement. 3 Based on property income growth and current interest rate expectations. Distributions are expected to be modestly above 100% of FFO, with the payout ratio expected to normalise as contracted income growth is delivered. 4 Based on the closing security price as at 7 August 2026. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 9
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Sustainability overview Dexus Convenience Retail REIT leverages the Dexus Platform to manage its response to sustainability issues. 10 Dexus Convenience Retail REIT 2026 Annual Report Glass House Mountains Northbound, QLD
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Sustainability strategy Our investors, customers and communities expect DXC to manage sustainability risks and opportunities at our assets. Dexus’s sustainability strategy guides DXC’s approach and priority areas based on our most material sustainability matters, supporting us to deliver assets that create positive impact and enduring value in areas material to DXC and Dexus. The Dexus sustainability strategy and priority areas below are applied across DXC’s operations. More sustainability information can be found in the Dexus Annual Reporting Suite, including the Dexus 2026 Integrated Annual Report and accompanying Sustainability Data Pack, available at www.dexus.com/dxs on 20 August 2026. Sustainability strategy Unlock the potential of real assets to create lasting positive impact and a more sustainable tomorrow Priority Areas Customer prosperity Supporting our customers’ productivity, wellbeing and prosperity by designing, developing and managing spaces that meet their evolving needs. Climate action Focusing on climate action to support the transition to a decarbonised economy, while safeguarding and advancing our people, assets and financial performance. Enhancing communities Helping the communities around our assets and creating local connections and social value through inclusive placemaking and investment that strengthens our communities. Foundations Circularity Indigenous engagement Diversity, equity & inclusion Human rights Health & wellbeing Nature Governance & reporting FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 11
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Sustainability overview continued Implementing the Dexus sustainability strategy DXC takes direct action where we have operational control and works with customers and as an investment partner to influence sustainability outcomes where DXC does not have direct control. Across the Platform this year, Dexus expanded the reach and tracking of activities supporting our social value aspiration to create local connections for healthy hearts and minds. There was also a focus on improved wellbeing and sustainability outcomes for customers. Dexus increased Platform renewable energy capacity and progressed initiatives to strengthen measurement of Scope 3 emissions. Dexus continues to embed its sustainability strategy across the Dexus Platform, including through fund investment plans, sector strategies and asset plans. Sustainability priorities have also been integrated into the business performance review process for sectors, funds and Platform functions. Sustainability Priority Areas Consistent with Dexus's sustainability strategy, the Priority Areas which deliver greater sustainability impact while unlocking increased commercial value are Customer prosperity, Climate action and Enhancing communities. These priority areas were identified through our sustainability materiality assessments and their alignment to the Dexus and DXC business strategies, including their ability to drive sustainability outcomes and commercial value across diverse sectors and asset types. DXC sustainability priorities aligned to the Dexus sustainability strategy DXC priority Planned activities supporting priority Customer prosperity – Facilitating and supporting tenant requests to increase solar and electric vehicle charging capacity at assets – Embedding solar capacity in our retail convenience developments where we can influence outcomes – Supporting tenants where possible to deliver on their decarbonisation strategies, leveraging emerging opportunities in convenience retail Climate action – Maintaining net zero for scope 1 and 2 emissions across directly controlled assets for the managed portfolio – Sourcing 100% renewable electricity for managed assets and balancing remaining emissions through investment in high quality carbon offsets – Enhancing resilience to the impacts of climate change at assets – Integrating climate action initiatives within developments, with a focus on renewable energy, water and energy conservation, and resilience Enhancing communities – Creating local connections for healthy hearts and minds and amplifying DXC’s social impact by supporting Platform national community partnerships where appropriate Foundations – Maintaining asset environmental and work health and safety systems – Prioritising resource efficiency initiatives at assets – Conducting supplier sustainability due diligence and monitoring – Supporting and applying the Dexus Reconciliation Action Plan where possible – Ensuring continued strong governance and preparing for incoming sustainability reporting requirements 12 Dexus Convenience Retail REIT 2026 Annual Report
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Foundations The foundations that underpin the sustainability strategy are: Circularity, Indigenous Engagement, Diversity, equity & Inclusion, Human rights, Health & wellbeing, Nature, and Governance & reporting. This report focuses on the foundations most relevant to DXC's FY26 activity and reporting. Our commitment is to understand and address stakeholder expectations in these foundational areas, providing a platform for greater impact and value creation through our priority areas. Review of material issues Dexus and DXC acknowledge that ongoing business performance relies on understanding and responding to issues of importance to our operations and stakeholders. DXC is considered as part of the Dexus materiality assessment. The materiality assessment process supports the identification and prioritisation of sustainability matters that are critical to delivering our strategy and meeting stakeholder expectations. The process comprises periodic comprehensive assessments that identify and prioritise material topics through stakeholder engagement and desktop research. In intervening years, materiality reviews are conducted to confirm that material topics remain relevant and identify any changes in stakeholder priorities throughout the year. Materiality reviews were conducted from FY24 to FY26, building on the comprehensive assessment conducted in FY23 and drawing on stakeholder engagement to confirm or update rankings. This year’s materiality review confirmed that the six most material topics for the Dexus Platform remained unchanged from FY25, although the relative importance of some topics shifted in FY26. The most material topics remain: – Economic performance and resilience – Corporate governance – Customer engagement and experience – Championing a high-performance workplace culture – Decarbonisation and circularity – Asset environmental performance and optimisation Learn more about Dexus’s materiality assessment in the Dexus 2026 Annual Report at www.dexus.com/dxs from 20 August 2026. Preparing for incoming mandatory climate-related financial disclosures DXC, alongside Dexus, is committed to providing transparent and decision- useful information on sustainability- related matters. Dexus is reporting voluntarily under the Australian Sustainability Reporting Standards AASB S2 Climate-related Disclosures (AASB S2) this year. Based on the current reporting framework, DXC is expected to be captured as a Group 3 entity and to report in alignment with AASB S2 from FY28, subject to any changes to reporting requirements. DXC will leverage Dexus’s earlier adoption of AASB S2 to inform future reporting on climate- related risks and opportunities where relevant. The Dexus Climate Transition Plan (CTAP) is an important component of DXC’s approach to managing climate risks and capitalising on climate-related opportunities. It forms part of Dexus’s and DXC’s sustainability reporting suite alongside this Annual Report and the Sustainability Data Pack. Other reporting suite documents are available at www.dexus.com/sustainab ility. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 13 185 Brays Rd, Griffin, QLD 185 Brays Road, Griffin, QLD
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Customer prosperity Supporting our customers’ productivity, wellbeing and prosperity by designing, developing and managing spaces that meet their evolving needs Supporting customers on their sustainability journeys Dexus and DXC aim to continuously improve our assets and services based on customer feedback from annual surveys, forums and ongoing asset-level dialogue. These channels provide a clear view of customer priorities and enable targeted improvements across the Platform. Customers regularly raise sustainability matters, seeking support to access renewable energy, install electric vehicle (EV) charging and reduce emissions. DXC is focused on increasing renewable energy and EV charging access for current and future customers. The Glass House Mountains Northbound development was fully operational from 1 July 2026, designed with EV charging capability as a foundation. Northbound features six licensed EV charging bays in operation, with capacity for an additional four bays to meet growing demand. The existing Southbound asset features four licensed EV charging bays in operation, and we are exploring further sustainability features as part of future developments at the site. DXC continues to engage customers across assets to support their expansion of renewable energy enabled facilities and rooftop solar capacity. We are working with tenants to understand their needs and support solar and EV charging installations, using our scale and sector expertise to help them meet their own customers' expectations. 14 Dexus Convenience Retail REIT 2026 Annual Report Cnr Edith Street and Bruce Highway, Cluden, QLD
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Climate action Supporting the transition to a decarbonised economy, while safeguarding and advancing our people, assets and financial performance DXC's role in the energy transition The convenience retail sector’s role in Australia’s transition to net zero is complex but important and DXC is committed to taking direct action where possible and to working with customers to support their contribution to a net zero economy. Transport fuel is a key focus in Australia’s national decarbonisation pathway. As demand and incentives grow, DXC’s role in supporting our retail fuel customers through the transition will become increasingly important. Our tenancy mix in convenience retail provides DXC with the opportunity to engage meaningfully with customers in the sector and contribute positively to environmental outcomes. We focus on understanding customers’ climate ambitions and goals and facilitating these through our assets. Through developments that prioritise environmental efficiency, and by working with customers to improve renewable energy and EV access at existing assets, we aim to support the convenience retail sector to align with evolving transport trends and use our experience and scale to help meet shared decarbonisation goals. Maintaining net zero on managed portfolio DXC, alongside Dexus, prioritises emissions reduction to achieve our strategic and sustainability outcomes and to align with the climate aspirations set out in the Dexus Climate Transition Action Plan. In FY26, we continued to maintain net zero for Scope 1 and 2 emissions1 across DXC’s controlled portfolio, supporting the Dexus 2040 aspiration to achieve absolute zero on Scope 1 and 2 emissions with minimal use of offsets for the managed portfolio. DXC also procured 100% renewable electricity for the controlled assets' energy use (maintained since 2022). DXC’s emissions and offsets will be published with the Dexus Platform information in the 2026 Sustainability Data Pack, available at www.dexus.com/dxs from 20 August 2026. Climate resilience at DXC assets DXC and Dexus are focused on understanding and managing climate- related risks and opportunities that may affect our business activities and assets, and on protecting our ability to create and retain value over time. DXC benefits from Dexus’s Platform-wide approach to climate risk management. In FY26, DXC completed a site-level physical climate risk assessment at Thornton as part of 27 assessments completed across the Platform. Assessments are prioritised based on exposures identified in Dexus’s portfolio- level climate risk assessment and identify climate-related hazards and mitigation actions at specific assets. The Thornton assessment supports integration of physical risk mitigation into asset planning and budgets and provides learnings that can be applied across the sector. Developing sustainable convenience retail assets DXC’s developments play an important role in embedding and advancing Dexus’s sustainability strategy. Designing convenience retail assets with sustainability features and expansion capability as a foundation allows us to continue to build a high-quality portfolio that meets current and future customer needs. Our Glass House Mountains Northbound development was fully operational from 1 July 2026, delivering modern and efficient features enhanced with renewable energy capabilities. In addition to current and future EV charging facilities, the development uses conservation technology such as rainwater harvesting, grey-water reuse and new fuel tank technology to improve energy efficiency and reduce environmental impacts. DXC’s development approach aligns to the Dexus Sustainable Development Standards (SDS), which embed our sustainability priorities within our development processes. The Standards enable the delivery of high-performing, resilient assets, including initiatives to reduce embodied carbon, facilitate renewable energy use and incorporate social and inclusive design principles where relevant. 1 Covers Scope 1 and 2 emissions across DXC controlled operations as part of the Dexus managed portfolio, which received limited assurance. Net emissions for the 12 months ended 30 June 2026 include offsets purchased and allocated for retirement during the year and up to the date of this announcement. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 15
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Enhancing communities Investing to enhance the communities around our assets and create local connections and social value through inclusive placemaking. Creating local connections for healthy hearts and minds DXC will seek to support local communities in a way that also improves the value of our assets. To that end, DXC will seek opportunities to support Dexus's social value aspiration of creating half a million local connections for healthy hearts and minds by 2030, in a way that is aligned with our ownership and tenancy structure. In FY26, Dexus created 126,352 new local connections at assets across the Platform, remaining on track for the FY30 aspiration. Dexus Platform assets continued to support local communities through the provision of space, promotions and in- kind support. In FY26, Dexus provided over $2.7 million of in-kind support to community organisations across Australia and New Zealand, aligned to local needs and asset-level engagement. Partnering for healthy hearts and minds Across Platform assets, Dexus worked with its national community partners, Black Dog Institute (BDI) and headspace, to deliver community initiatives that promote mental health awareness and strengthen community connection. Through the BDI partnership, Dexus delivered asset-based mental health art exhibitions that used lived experience storytelling to explore connections between physical and mental health, driving awareness and helping to reduce stigma. Rallying together for a cause In FY26, Dexus employees volunteered more than 1,300 hours (an estimated value of $129,000) with organisations including headspace, OzHarvest, Thread Together, Foodbank, Eat Up and ReLove. Dexus Platform assets also supported community organisations through donations and fundraising, including Dexus's annual Foodbank Australia donation drive, which helped provide more than 16,000 meals for people facing food insecurity over the Christmas period. 16 Dexus Convenience Retail REIT 2026 Annual Report Guzman y Gomez - Glass House Mountains, Northbound, QLD
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Sustainability foundations Sustainability foundations underpin our strategy by addressing material issues for stakeholders, enabling greater impact and long-term value creation across our Priority areas. The Sustainability foundations are designed to foster trust, enhance transparency, and reinforce our social licence to operate. They are structured across three core pillars: Environmental management, Social performance, and Governance and reporting. Environmental management Circularity Dexus and DXC will aim to embed principles of resource efficiency, circularity and innovation into our assets and their operations. Waste remains a key source of impact across the Dexus Platform, including in retail convenience developments. In FY26, Dexus implemented waste reduction initiatives across developments and fitout processes. Drawing on Better Building Partnership guidance, Dexus is improving the understanding of waste generated through these activities. This will support more consistent reporting, improves visibility of waste and embodied carbon footprints and helps identify opportunities to reduce waste and increase recycling across the Platform. Social performance Responsible supply chain and modern slavery DXC and Dexus suppliers are critical to our operations. We work collaboratively to strengthen sustainability outcomes and manage shared risks. We have expanded supplier sustainability risk screening to support continuous improvement in supplier performance and risk management. Across the Platform, 1,866 suppliers, including 63 DXC suppliers, have completed assessments, helping us to identify inherent risks and work with suppliers to review and mitigate them. This year, Dexus addressed 135 supplier risk action items across the Platform, with 77 suppliers positively re-assessed through EcoVadis. Dexus is also building supplier capability in emissions measurement through EcoVadis carbon risk assessments for material and key suppliers. The tool improves visibility of Scope 3 emissions and supports supplier decarbonisation, strengthening data quality underpinning our net zero pathway. DXC and Dexus continue to mature identification and management of modern slavery risk across our operations and supply chains. In FY26, Dexus evolved the Modern Slavery Roadmap, refining priorities and sequencing actions to strengthen governance, supply chain transparency and stakeholder capability. Further detail on the Dexus Platform modern slavery risk assessment and actions will be provided in the F26 Modern Slavery Statement, available at www.dexus.com/corporategovernance in December 2026. Indigenous engagement The Dexus Reflect Reconciliation Action Plan (RAP) is progressing actions that support our Customer prosperity, Climate action and Enhancing communities priorities through engagement with First Nations communities. Dexus acknowledges that more work is required and this year has progressed asset-based activations including First Nations art programs, a project-based RAP at Waterfront Brisbane and deeper engagement with First Nations suppliers, alongside procurement improvements to reduce barriers. Dexus also began developing its next RAP, which will be published in FY27. In FY26, NAIDOC Week and National Reconciliation Week were celebrated across 24 Dexus Platform assets through art installations, workshops and community-led experiences. Governance and reporting Strong governance practices and transparent reporting are central to DXC and Dexus’s sustainability approach. Information relating to our corporate governance framework (including sustainability) can be found on pages 18 –23. DXC and Dexus recognise the heightened focus on corporate governance and transparent, decision- useful reporting in underpinning responsible business practices. We provide comparable sustainability performance indicators through asset ratings and organisational benchmarks, enabling continuous improvement across our assets and operations, and informing risk management, capital allocation and long-term asset performance. International sustainability benchmarks DXC benefits from Dexus’s Platform-level participation in international sustainability benchmarks, which provide insight into sustainability performance and support transparent engagement with investors and other key stakeholders. Dexus (DXS) maintained a 5-star GRESB rating in the latest assessment, reflecting continued strong performance across the Platform. Dexus also ranked second among global peers in the S&P Global Corporate Sustainability Assessment (Dow Jones Best in Class) and was included in the 2026 CSA Global Sustainability Yearbook (top 5% of all companies globally). FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 17
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Governance Dexus has implemented a corporate governance framework that applies to all funds including Dexus Convenience Retail REIT. 18 Dexus Convenience Retail REIT 2026 Annual Report OTR - Glass House Mountains Northbound, QLD
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Dexus Asset Management Limited acts as Responsible Entity for Dexus Convenience Retail REIT’s managed investment schemes. DXC benefits from leveraging Dexus’s funds and property management expertise to drive performance. Dexus and the Dexus Asset Management Limited (DXAM) Board believe that good corporate governance supports: – A culture of ethical behaviour resulting in an organisation that acts with integrity – Improved decision-making processes – Better controls and risk management – Improved relationships with stakeholders – Accountability and transparency Dexus’s governance framework meets the requirements of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations (fourth edition) and addresses additional aspects of governance which Dexus considers important. Further details are set out in DXC’s 2026 Corporate Governance Statement, which outlines key aspects of DXC’s corporate governance framework and practices, which is available at www.dexus.com/dxc . Board of Directors The Board of DXAM comprises four Non-Executive Directors (including the Chair) and one Executive Director. The Board of DXAM regularly assesses the independence of its directors in light of interests disclosed to it and has determined that each Non-Executive Director has maintained independence throughout the year. The Board continues to review its composition, experience and director tenure. The Board renewal process is ongoing, resulting in an experienced Board of Directors with a broad and diverse skill set. The Board has determined that, along with individual Director performance, diversity is integral to a well-functioning Board. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 19
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Governance continued Board skills and experience The Board has determined the skills, expertise and experience required as a collective to ensure diversity of thought and vigorous debate on key decisions. The collective experience of the current Directors has been outlined against the areas of skill and expertise. The Board believes that its composition meets or exceeds the minimum requirements in each category. Areas of skill, expertise and experience Leadership and Governance Extensive experience as a director and leader including in public listed companies of similar size and complexity. Deep understanding of relevant legal, compliance and regulatory frameworks and sound capability in governance and protecting and enhancing the company’s reputation. Strategy Experience in developing, executing and successful delivery of strategy, and oversight against strategic objectives. Includes extensive experience in merger and acquisition activities, integrations and organisational transformations. Property investment Experience in and understanding of economic drivers and trends, markets and customer needs and driving returns from investment in relevant real estate. Good understanding of the risks and opportunities of larger scale development projects. Funds management Experience in and good understanding of the drivers of the successful management of third party funds including a deep understanding of, and engagement with, institutional and other fund investors. Understanding of the global and local trends in the management of third party funds and sources of capital. Capital management Proficiency in and strong understanding of raising capital and investment banking including experience in allocating and managing equity and debt capital to optimise the organisation’s returns while ensuring appropriate financial strength and liquidity. Culture and people Demonstrated experience in influencing organisation culture shaped by ‘tone from the top’ that promotes high engagement, diversity and inclusion. Deep experience in leadership development, talent management, succession planning, and in remuneration frameworks and reporting for large- listed companies. Sustainability, Climate and Stakeholder engagement Experience and expertise in sustainability best practice including understanding of climate change and climate related risks and opportunities. Good understanding of community and stakeholder engagement, as well as related governance. Finance Good understanding of accounting standards and trends and proficient at interpreting and analysing financial statements for organisations of similar size and complexity. Sound understanding of budgeting, forecasting and drivers of financial performance. Ability to evaluate the effectiveness of internal controls. Risk management and Compliance Experience in and understanding of risk management frameworks and controls; the identification, assessment and management of risks, including managing compliance across large, complex, regulated financial services organisations. Includes experience in workplace health and safety and understanding of cyber and technological risk management. 20 Dexus Convenience Retail REIT 2026 Annual Report
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Sustainability governance The Dexus Board identifies sustainability and climate-related risks and opportunities as a material matter for the Platform, as reflected in the Board and Board Sustainability Committee Charters. Dexus’s focus on sustainability impact is supported by a governance framework to provide appropriate management and Board oversight for sustainability issues, including climate-related risks and opportunities. Sustainability-related policies and procedures are regularly reviewed and updated to ensure the organisation adapts to shifting risks and opportunities. Dexus’s Board Sustainability Committee considers the material environmental and social issues relevant to the group and supports the maintenance of Dexus’s position as a leader in sustainability performance and sustainability impact. The DXAM Board are also engaged on key sustainability decisions for Dexus, including the Modern Slavery Statement approval in FY26. Sustainability across the Dexus Platform DEXUS BOARD SUSTAINABILITY COMMITTEE O v e r s e e s t h e d e v e l o p m e n t a n d a p p r o v a l o f t h e D e x u s P l a t f o r m - w i d e a p p r o a c h t o s u s t a i n a b i l i t y , i n c l u d i n g s u p p o r t i n g t h e D X A M B o a r d ' s a p p r o a c h t o a d d r e s s i n g c l i m a t e - r e l a t e d r i s k a n d opportunities, public commitments and delivery of the Platform’s sustainability initiatives. The Dexus Board People & Remuneration, Audit and Risk committees oversee additional sustainability-related matters, such as sustainability and climate-related reporting, remuneration and sustainability risk appetite and management. DEXUS EXECUTIVE COMMITTEE Oversees the alignment and monitoring of sustainability-related activities with the Dexus Strategy. Topics include climate-related risks and opportunities, community contribution, customer experience, carbon reduction, resource efficiency, human rights, responsible procurement and supplier risk, governance and people practices. RECONCILIATION ACTION PLAN WORKING GROUP Responsible for advancing Dexus’s reconciliation journey with Aboriginal and Torres Strait Islander peoples and implementing initiatives aligned to Dexus’s Reconciliation Action Plan. ASRS READINESS STEERING COMMITTEE Responsible for overseeing Dexus’s transition to mandatory climate- related disclosure requirements against the Australian Sustainability Reporting Standards, as well as oversee implementation of the approaches for reporting. The Dexus Board Sustainability Committee supports the DXAM Board in: – Understanding the expectations of our key stakeholders – Understanding how our ability to create value is impacted by sustainability issues – Monitoring external sustainability trends and understanding associated risks and opportunities The Dexus Board Sustainability Committee engaged across the year with Dexus management teams on a range of sustainability topics, including: – Engagement on and approval of Dexus’s materiality assessment and material topics – Development and progress against the Dexus sustainability strategy and Customer prosperity, Climate action and Enhancing communities priority areas – Engagement on evolving investor and customer expectations, market trends and the broader operating context – Strengthening sustainability across the supply chain through enhanced supply chain mapping and supplier assessments – Progressing towards public sustainability commitments, including our net zero and local connections for healthy hearts and minds aspirations – Addressing climate-related risks and opportunities across the portfolio – Preparing for future compliance with AASB S2 requirements. More information on sustainability governance across the Dexus Platform is available on page 73 of Dexus’s Integrated Annual Report and the Dexus Management Approach and Procedures, available at www.dexus.com/sustainability FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 21
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Board of Directors Jennifer Horrigan Independent Chair Dexus Asset Management Limited BBus, GradDipMgt, GradDipAppFin, MAICD Director since 30 April 2012 and Chair since 1 March 2022 Jennifer is also a member of the DXAM Audit, Risk & Compliance Committee. She is an Independent Director of Dexus Capital Funds Management Limited and Dexus Capital Investment Services Pty Limited and a member of its Audit, Risk & Compliance Committee. Jennifer is a non-executive director of Yarra Funds Management Limited, Grant Thornton Australia, a member of MODEL’s Advisory Board and a patron of Redkite (national children’s cancer charity). Jennifer is an experienced non- executive director across ASX, unlisted and not-for-profit boards. She brings a diverse set of skills with executive experience across investment banking, investor relations and financial communications, including as Chief Operating Officer of independent investment bank Greenhill Australia (previously Greenhill Caliburn) and Co- Founder and Managing Partner of Savage & Horrigan, an Ogilvy company. Previous roles include Non-Executive Director of A2B (ASX: A2B), QV Equities (ASX: QVE) and Generation Healthcare (ASX: GHC). Danielle Carter Independent Director Dexus Asset Management Limited BA/BCom, Grad Dip AppFin, CA, GAICD Director since 17 October 2022 Danielle is also a Member of the Audit, Risk & Compliance Committee. Danielle is a non-executive director of BWP Management Limited, the responsible entity of BWP Trust (ASX:BWP). Danielle has over 30 years’ experience in real estate, financial services and property funds management having held senior executive roles at Blackrock, SG Hiscock & Co and Strategic Financial Management. She was previously a non-executive director of APN Property Group Limited (ASX: APD) and NPR Management Ltd, a subsidiary of BWP Management Limited. Emily Smith Independent Director Dexus Asset Management Limited BCom, GAICD Director since 19 April 2022 Emily is also the Chair of the Audit, Risk & Compliance Committee. Emily is Vice Chair of Grant Samuel Corporate Advisory. She is also a member of Chief Executive Women and a Graduate of the Australian Institute of Company Directors. Emily has over 25 years’ experience in the finance sector having worked in senior executive roles at Deutsche Bank AG and Credit Suisse. She has had significant exposure to key sectors including building materials, steel, diversified industrials, REITs and telecommunications both domestically and globally. She was previously a council member of the Kambala Girls School, Sydney for 12 years. 22 Dexus Convenience Retail REIT 2026 Annual Report
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Jonathan Sweeney Independent Director Dexus Asset Management Limited BCom, LLB, ASIP, GAICD Director since 17 October 2022 Jonathan is also a Member of the Audit, Risk & Compliance Committee. Jonathan is Chair of the Funds Board within the BT Financial Group, and Chair of Perpetual Private’s Investment Committee and a member of the Noongar Boodja Trust’s Investment Committee. Jonathan has over 35 years’ experience in the investment management, fiduciary, real estate and financial services sectors having held senior executive roles at Folkestone and the Trust Company Limited. Previous roles include Director of EP&T Global (ASX: EPX), 8IP Emerging Companies Limited (ASX:8EC), Velocity Rewards Pty Limited, Tennis NSW, and Easton Investments (ASX: EAS). Michael Sheffield Executive General Manager, Funds Management Executive Director, Dexus Asset Management Limited BBus, MMgt, CPA, GAICD, GradDipAppFin Director since 29 May 2026 Michael is Executive General Manager, Funds Management at Dexus where he is responsible for the performance and operations of Dexus’s existing $38.9 billion real estate and infrastructure platform. He is also an executive director on the Boards of Dexus Capital Funds Management Limited, Dexus Capital Investment Services Pty Limited and Dexus Wholesale Funds Limited. Michael has more than 30 years of experience across funds management, real estate, infrastructure and investment banking, with more than 10 years at Dexus including as Head of Diversified and Infrastructure Fund and Fund Manager of Dexus Wholesale Property Fund. Prior to Dexus, he held roles with Commonwealth Bank and Lendlease. Brett Cameron General Counsel and Company Secretary Alternate Executive Director, Dexus Asset Management Limited LLB/BA (Science and Technology), GAICD, DGIA Alternate Executive Director since 29 May 2026 Brett is General Counsel and Company Secretary of Dexus companies where he is responsible for the legal function, company secretarial services and compliance and governance systems and practices across the Dexus Group. He is also an alternate executive director on the Board of Dexus Wholesale Funds Limited. Prior to joining Dexus, Brett was Head of Legal for Macquarie Real Estate (Asia) and has held senior legal positions at Macquarie Capital Funds in Hong Kong and Minter Ellison in Sydney and Hong Kong. Brett has over 25 years’ experience as in-house counsel and in private practice in Australia and in Asia, where he worked on real estate structuring and operations, funds management, mergers and acquisitions, private equity and corporate finance across a number of industries. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 23
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Financial report 24 Dexus Convenience Retail REIT 2026 Annual Report 485 Balfour Street, Southern River WA
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Contents Directors' Report 26 Auditor's Independence Declaration 37 Consolidated Statement of Comprehensive Income 38 Consolidated Statement of Financial Position 39 Consolidated Statement of Changes in Equity 40 Consolidated Statement of Cash Flows 41 Notes to the Consolidated Financial Statements 42 Group performance 45 Note 1 Operating segment 45 Note 2 Property revenue and expenses 45 Note 3 Finance costs 46 Note 4 Taxation 46 Note 5 Earnings per security 47 Note 6 Distributions paid and payable 47 Property portfolio assets 48 Note 7 Investment properties 48 Note 8 Non-current assets classified as held for sale 50 Capital and financial risk management 51 Note 9 Capital and financial risk management 51 Note 10 Interest bearing liabilities 55 Note 11 Commitments and contingencies 56 Note 12 Contributed equity 57 Note 13 Working capital 57 Other disclosures 60 Note 14 Audit, taxation and transaction service fees 60 Note 15 Cash flow information 60 Note 16 Related parties 61 Note 17 Controlled entities 61 Note 18 Parent entity disclosures 62 Note 19 Subsequent events 62 Directors' Declaration 63 Independent Auditor's Report 64 Dexus Convenience Retail REIT consists of three stapled entities, Convenience Retail REIT No. 2, Convenience Retail REIT No. 1 and Convenience Retail REIT No. 3, collectively referred to as DXC or the Group. Dexus Asset Management Limited (DXAM) is the Responsible Entity of all three stapled entities. DXAM oversees the management and strategic direction of the Group. Dexus Convenience Retail REIT stapled securities are listed on the Australian Securities Exchange under the “DXC” code. The registered office and principal place of business of the Responsible Entity of the Group is Level 30, 50 Bridge Street, Sydney, NSW 2000. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 25
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Directors’ Report The Directors of Dexus Asset Management Limited (DXAM) as Responsible Entity of Convenience Retail REIT No. 2 (CRR2 or the Trust and deemed parent entity) and its controlled entities (together DXC or the Group) present their Directors’ Report together with the Consolidated Financial Statements for the year ended 30 June 2026. Directors and Secretaries Directors The following persons were Directors of DXAM at all times during the year and to the date of this Directors’ Report, unless otherwise stated: Directors Appointed Jennifer Horrigan, BBus, GradDipMgt, GradDipAppFin, MAICD 30 April 2012 Danielle Carter, BA/BCom, GradDipAppFin, CA, GAICD 17 October 2022 Emily Smith, BCom, GAICD 19 April 2022 Jonathan Sweeney, BCom, LLB, ASIP, GAICD 17 October 2022 Michael Sheffield, BBus, MMgt, CPA, GAICD, GradDipAppFin1 29 May 2026 Brett Cameron, LLB/BA, GAICD, FGIA – Alternate Director2 29 May 2026 Melanie Bourke, B.Com, MBA (Exec), CA, GAICD3 17 July 2024 1 Appointed as Executive Director of the DXAM Board effective 29 May 2026. 2 Ceased as alternate director for Melanie Bourke and was appointed as alternate director for Michael Sheffield on 29 May 2026. 3 Resigned as Executive Director of the DXAM Board effective 29 May 2026. Company Secretaries The names and details of the Company Secretaries of DXAM as at 30 June 2026 are as follows: Brett Cameron LLB/BA (Science and Technology), GAICD, FGIA Appointed: 16 September 2021 Brett is General Counsel and a Company Secretary of Dexus companies and is responsible for the legal function, company secretarial services and governance systems and practices across the Dexus Group. Prior to joining Dexus, Brett was Head of Legal for Macquarie Real Estate (Asia) and has held senior legal positions at Macquarie Capital Funds in Hong Kong and Minter Ellison in Sydney and Hong Kong. Brett has over 25 years' experience as inhouse counsel and in private practice in Australia and in Asia, where he worked on real estate structuring and operations, funds management, mergers and acquisitions, private equity and corporate finance across a number of industries. Scott Mahony BBus (Acc), Grad Dip (Business Administration), MBA (eCommerce), Grad Dip (Applied Corporate Governance) FGIA, FCIS Appointed: 14 October 2022 Scott is the Head of Control Transformation, having recently held the role of Head of Governance. During FY26, he was responsible for the development, implementation and oversight of Dexus’s governance policies and practices. Prior to being appointed the Head of Governance in 2018, Scott had oversight of Dexus’s internal audit, risk and compliance programs. Scott joined Dexus in October 2005 after two years with Commonwealth Bank of Australia as a Senior Compliance Manager. Prior to this, Scott worked for over 11 years for Assure Services & Technology (part of AXA Asia Pacific) where he held various management roles. 26 Dexus Convenience Retail REIT 2026 Annual Report
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Attendance of Directors at Board Meetings and Board Committee Meetings The number of Directors' meetings held during the year and each Director's attendance at those meetings is set out in the table below. The Directors met 14 times during the year, of which there were 5 special meetings. DXAM Board Audit, Risk and Compliance Committee Held Attended Held Attended Jennifer Horrigan 14 14 6 6 Danielle Carter 14 14 6 6 Emily Smith 14 13 6 6 Jonathan Sweeney 14 14 6 6 Michael Sheffield1 1 1 — — Brett Cameron - Alternate Director2 1 — — — Melanie Bourke3 13 12 — — 1 Appointed as Executive Director of the DXAM Board effective 29 May 2026. 2 Ceased as alternate director for Melanie Bourke and was appointed as alternate director for Michael Sheffield on 29 May 2026. 3 Resigned as Executive Director of the DXAM Board effective 29 May 2026 Board Sub-committee and special meetings are held at a time to enable the maximum number of Directors to attend and are generally held to consider specific items that cannot be held over to the next scheduled main meeting. Directors’ relevant interests The relevant interests of each Director in DXC stapled securities as at the date of this Directors’ Report are shown below: Directors No. of securities Jennifer Horrigan 33,500 Danielle Carter 8,946 Emily Smith — Jonathan Sweeney 55,500 Michael Sheffield1 — Brett Cameron - Alternate Director2 — Melanie Bourke3 — 1 Appointed as Executive Director of the DXAM Board effective 29 May 2026. 2 Ceased as alternate director for Melanie Bourke and was appointed as alternate director for Michael Sheffield on 29 May 2026. 3 Resigned as Executive Director of the DXAM Board effective 29 May 2026. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 27
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Directors’ Report continued Operating and Financial Review Strategy Dexus Convenience Retail REIT (DXC) has taken an active and disciplined approach to investing in strategically located assets to provide investors with a defensive income stream generated from a $779 million property portfolio. The business focuses on opportunities in convenience retail and other assets with a non-discretionary focus, including fuel service stations. DXC’s portfolio offers strong income stability, with a weighted average lease expiry of 7.6 years and 86% of income expiring in FY31 and beyond. Portfolio occupancy remains high at 99.2% with 95% of overall income derived from major national and international tenants. DXC delivers its investment proposition to investors by: – Generating defensive income with contracted rental growth – Taking an active approach to portfolio management – Maintaining a disciplined approach to capital allocation, including value accretive securities buy-back – Leveraging Dexus’s leading real asset capabilities Overview of operations The results of DXC’s operations are disclosed in the Consolidated Statement of Comprehensive Income. A summary of results for the twelve months to 30 June 2026 is as follows: Key financial performance metrics 30 June 2026 30 June 2025 Change Net profit after tax ($’000) 56,402 39,374 43.2 % Funds From Operations (FFO) ($’000) 28,731 28,447 1.0 % FFO per security (cents) 20.90 20.65 1.2 % Distribution per security (cents) 20.90 20.65 1.2 % 30 June 2026 30 June 2025 Change Net tangible asset backing per security ($) 3.86 3.64 6.0 % Gearing (%) 30.6 % 29.4 % 1.2 ppt 30 June 2026 30 June 2025 Profit & loss $'000 $'000 Change Net rental income 45,209 46,445 (2.7) % Interest income 85 102 (16.7) % Total revenue 45,294 46,547 (2.7) % Management fees (4,796) (4,641) 3.3 % Finance costs (11,584) (11,412) 1.5 % Corporate costs (942) (932) 1.1 % Total expenses (17,322) (16,985) 2.0 % Net operating income 27,972 29,562 (5.4) % Fair value gain/(loss) on derivatives 1,074 (6,836) n/m Fair value gain/(loss) on investment properties 27,356 16,648 64.3 % Statutory net profit after tax 56,402 39,374 43 % The Responsible Entity uses Funds From Operations (FFO) as its key performance indicator. The Directors consider the Property Council of Australia’s (PCA) definition of FFO to be a measure that reflects the underlying performance of the Group. FFO comprises net profit/loss after tax attributable to stapled security holders, calculated in accordance with Australian Accounting Standards and adjusted for: property revaluations, derivative mark-to-market impacts, fair value movements of interest bearing liabilities, amortisation of tenant incentives, gain/loss on sale of certain assets, straight line rent adjustments, non-FFO tax expenses, certain transaction costs, one-off significant items, rental guarantees and coupon income. 28 Dexus Convenience Retail REIT 2026 Annual Report
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A reconciliation of profit after tax to FFO is outlined as follows: 30 June 2026 30 June 2025 FFO reconciliation $'000 $'000 Profit after tax for the period 56,402 39,374 Net fair value (gain)/loss on investment properties (27,356) (16,648) Net fair value (gain)/loss on derivatives (1,074) 6,836 Incentive amortisation and straight line rent (867) (2,679) Debt modification 466 1,215 Rental guarantees, coupon income and other 1,160 349 FFO 28,731 28,447 30 June 2026 30 June 2025 FFO composition $'000 $'000 Change Property FFO 44,747 44,080 1.5 % Management fees (4,796) (4,641) 3.3 % Net finance costs (10,303) (10,060) 2.4 % Other net expenses (917) (932) (1.6) % FFO 28,731 28,447 1.0 % Financial result The statutory result for the year ended 30 June 2026 reflected a net profit after tax of $56.4 million, compared with $39.4 million in the prior year, primarily reflecting increased property valuation gains. FFO was $28.7 million, or 20.9 cents per security, reflecting an increase of 1.2% on the prior year due to like-for-like income growth partly offset by the impact of FY25 divestments. The portfolio delivered like-for-like income growth of 3.0%, reflecting the portfolio's embedded annual fixed and CPI-linked rental escalators. Net tangible assets and asset valuations During the year, DXC independently valued 63 of its 911 investment properties, with the remainder being subject to internal valuations. The external and internal valuations delivered a net revaluation uplift of $27.4 million2, a 3.6% increase on prior book values, which was supported by fourteen basis points of capitalisation rate compression and steady contractual rental growth, with strengthening asset values evidenced by consistent levels of market transactions. The asset revaluations drove a 22 cent, or 6.0% increase in NTA to $3.86 per security. Property portfolio and asset management DXC’s property portfolio comprises 911 assets valued at $779 million1 with a weighted average capitalisation rate of 6.18%3. The portfolio is weighted towards metropolitan and highway assets, with 87% benefiting from high-value land uses. These sites provide strong traffic exposure and long-term flexibility to support evolving convenience retail demand. DXC’s portfolio continues to demonstrate resilience, with portfolio occupancy remaining high at 99.2%, and 95% of income underpinned by major national and international tenants. With a 7.6 year weighted average lease expiry and 86% of income expiring in FY31 or beyond, the portfolio offers strong income stability. 1 Includes assets held for sale as at 30 June 2026. 2 Includes accounting adjustments such as straight-lining of rent and amortisation of lease incentives. 3 Includes Glass House Mountains (Northbound) as a stabilised asset and excludes three assets held for sale (1 Wishart Street, Gwelup WA, 1 Flinders Street, Monto QLD and 74 Connor Street, Zilzie QLD). FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 29
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Directors’ Report continued Developments DXC's development strategy focuses on creating value by securing difficult to replicate sites that deliver attractive returns. Glass House Mountains Northbound is complete and fully leased, with Viva Energy/On the Run now trading alongside McDonald's, KFC and Guzman y Gomez. The development has an average WALE of 18 years, derives 43% of income from QSR retailers, and delivered a 17% development project IRR and 5.8% yield on cost, demonstrating the value created through DXC’s development strategy. The forward pipeline comprises Glass House Mountains Southbound and the two fund-through developments at Mayfield and Bulahdelah, NSW. These projects remain subject to conditions precedent, including lease finalisation, development approval and satisfaction of return hurdles. Financial position DXC’s net assets increase d $22.2 million (or 22 cents per security to an NTA of $3.86) primarily due to asset revaluations. Balance sheet ($'000) 30 June 2026 30 June 2025 Cash and cash equivalents 2,211 2,396 Investment properties1 778,919 728,410 Other assets 7,204 5,631 Total assets 788,334 736,437 Borrowings (240,129) (215,507) Provisions (9,263) (9,325) Other liabilities (14,915) (9,762) Total liabilities (264,307) (234,594) Net assets 524,027 501,843 Stapled securities on issue (‘000) 135,674 137,757 NTA per security ($) 3.86 3.64 1 Includes properties classified as held for sale. Capital management Gearing of 30.6% is toward the lower end of the Fund’s 25-40% target range and the Fund has no debt expiries until FY28. Hedged debt averaged 66%, providing income protection against interest rate volatility. DXC extended and increased $145 million of debt facilities at lower average margins and undertook approximately $200 million of hedging activity to improve earnings visibility and reduce exposure to interest rate volatility. DXC announced the commencement of an on-market securities buy-back program on 9 March 2026 for an initial target of 2.5% of securities. Subsequently, on 19 June 2026, the buy-back program was increased to 5.0% of securities. The decision to increase the buy-back target reflected DXC’s rate of progress against its initial 2.5% target, which was 60% complete as at 30 June 2026, and an opportunity to continue capitalising on the current price dislocation between listed and direct property markets. Key metrics 30 Jun 2026 30 Jun 2025 Gearinga 30.6% 29.4% Cost of debtb 4.8% 4.5% Average maturity of debt 4.2 years 4.5 years Average hedged debt (including caps) 66% 72% Headroomc 41.8 m 50.9 m a. Adjusted for cash. b. Weighted average for the period, inclusive of fees and margins on a drawn basis. c. Undrawn facilities plus cas h. 30 Dexus Convenience Retail REIT 2026 Annual Report
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Sustainability DXC’s sustainability priority areas - Customer prosperity, Climate action and Enhancing communities - are aligned to the Dexus sustainability strategy and guide how we manage our portfolio to create lasting value. DXC maintained 100% renewable electricity and net zero4 on Scope 1 and 2 emissions across its controlled operations for FY26 as part of the Dexus managed portfolio. DXC continued to support customers’ sustainability ambitions, progressing tenant-led solar and EV charging engagement. This year, Thornton completed a physical climate risk assessment through the broader Dexus risk program, identifying climate-related hazards and mitigation actions to improve asset resilience. Glass House Mountains Northbound features six licensed EV charging bays in operation with capacity for a further four, alongside rooftop solar, rainwater harvesting, grey water reuse and new fuel tank technology - supporting customer demand and improving energy and environmental performance. Market outlook During 2026, the fuel and convenience transaction market remained liquid, with pricing supported by ongoing buyer demand. DXC’s recent asset sales, completed at a premium to prior book value, support portfolio valuation outcomes, while transaction evidence for modern assets with QSR retailing reinforces the Fund’s development pipeline, long-term portfolio strategy and NTA. Summary and guidance DXC is well placed to deliver defensive and growing property income and will remain focused on: – Enhancing portfolio quality to support income certainty and growth – Maintaining balance sheet flexibility and a disciplined approach to capital allocation, including the securities buy-back – Progressing the development pipeline and selective asset recycling to improve portfolio quality – Leveraging Dexus’s capabilities across transactions, development, asset management and treasury. DXC's convenience retail assets benefit from predictable cash flows and strong tenant covenants, which together are expected to support valuation resilience. Consistent with DXC's income-led proposition, DXC has updated its distribution policy to target a payout ratio of 95–110% of FFO, providing flexibility to maintain distributions at 20.9 cents per security in FY27 as the Fund transitions to a higher interest rate environment. Contracted rental growth is expected to drive payout ratio normalisation over time. Barring unforeseen circumstances, DXC provides FY27 guidance5 for distributions of 20.9 cents per security, reflecting an attractive distribution yield of 7.8%6. Key risks Dexus Convenience Retail REIT’s key risks are provided in its 2026 Annual Report on page 32-33 and available at www.dexus.com/dxc on the ASX announcements tab. 4 Covers Scope 1 and 2 emissions across DXC controlled operations as part of the Dexus managed portfolio, which received limited assurance. Net emissions for the 12 months ended 30 June 2026 include offsets purchased and allocated for retirement during the year and up to the date of this announcement. 5 Based on property income growth and current interest rate expectations. Distributions are expected to be modestly above 100% of FFO, with the payout ratio expected to normalise as contracted income growth is delivered. 6 Based on the closing security price as at 7 August 2026. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 31
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Directors’ Report continued Operating and Financial Review Key risks Macroenvironment Adverse impact from external factors that challenge DXC’s ability to deliver its strategic objectives and deliver long- term security holder value – Material decline in financial performance; potential impacts to share price – Structural changes to the fuel & convenience industry – Constrained capital raising and liquidity – Reputational damage – Processes to monitor and manage risks that may impact strategic outcomes and performance – The Board approves DXC’s strategy and risk appetite annually; management reviews them throughout the year – Progress against strategy is regularly reviewed and reported to the Board Investment and financial performance Deliver financial objectives, market guidance and sustainable long-term income and capital growth for Security holders – Lower earnings or capacity to fund distributions – Balance sheet pressure – Reduced investor sentiment across equity and debt – Reduced creditworthiness or access to debt financing – Decline in asset valuations – Reduced capacity to execute portfolio, development or capital management initiatives – Processes to monitor and manage risks that may impact strategic outcomes and performance – The Investment Committee and the Dexus Asset Management Limited (DXAM) Board approve investments, divestments and developments in line with the terms of reference and operating limits – Due diligence is undertaken for all investment and divestment proposals, developments and major capital expenditure prior to approval or endorsement Development Providing the opportunity to grow DXC’s portfolio and enhance future returns – Leasing outcomes below underwriting assumptions impacting completion valuations, earnings and returns – Construction cost fluctuations and project delays (including from contractor insolvency), leading to reduced development returns – Financial loss – Reputational damage – Partnering with trusted and high-quality development managers to execute fund-through projects – Oversight of development management agreements, fund-through developments and third-party developer appointment – Monitoring project delivery, leasing progress, cost exposure and completion risk Capital management Positioning the Fund’s capital structure to withstand unexpected changes in equity and debt markets – Constrained capacity to execute strategy – Increased cost of funding (equity and debt) – Fluctuations in interest rates impacting the cost of debt – Reduced investor sentiment – Reduced creditworthiness and availability of debt financing – Breach of financial covenants leading to default – Reputational damage – Prudent capital management, including regular sensitivity analysis and periodic independent reviews of the Treasury Policy, helps position DXC’s balance sheet to respond to unexpected changes in capital markets – Capital management is monitored on an ongoing basis to maintain metrics within the risk appetite thresholds, benchmarks and limits set out in the Treasury Policy – Reporting and oversight by the Capital Markets Committee and the DXAM Board Sustainability and climate Ability to meet investor, customer and societal expectations of corporate, environmental and social responsibilities – Impacts to the community including human health and wellbeing – Higher costs from global and domestic energy market fluctuations – Reduced profitability due to increased vacancy rates as tenants choose higher performing assets – Higher costs from physical risks (e.g. asset damage from extreme weather) – Regulatory penalties and compliance costs – Reduced investor confidence and access to capital (equity and debt) – Reputational damage and erosion of social licence – Dexus operates an ISO 14001 accredited Environment Management System, including scheduled environmental risk assessments and audits, to identify and assess risks across DXC-owned assets and operations and monitor the effectiveness of controls – Dexus uses scenario analysis to assess climate-related risks and opportunities and continues to enhance property resilience through energy efficiency initiatives and renewable energy projects – DXC seeks to support responsible business practices, including through supplier engagement on human rights and modern slavery risks, which are managed through sustainability and risk management processes – DXC supports tenant requests to install solar and electric vehicle charging infrastructure at managed assets, and works with tenants to pursue emerging opportunities in convenience retail, including the long-term shift in transport energy mixes Risk Potential impacts How DXC is responding 32 Dexus Convenience Retail REIT 2026 Annual Report
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Compliance and regulatory Maintain appropriate governance and compliance practices to support oversight of, and compliance with, applicable laws and regulations – Reputational damage – Conflicts of interest resulting in loss or reduced performance – Regulatory sanctions impacting business operations – Reduced investor sentiment (equity and debt) – Loss of broader community confidence – Increased compliance costs – DXC’s compliance monitoring program supports its compliance framework, with policies and procedures regularly reviewed to remain aligned with regulatory expectations – Dexus employees and DXC service providers are trained on their compliance obligations and encouraged to raise concerns – Maintain grievance, complaints and whistleblower mechanisms that enable Dexus employees and DXC stakeholders to raise concerns safely, confidentially and anonymously – A risk-based internal audit program – Independent industry experts are appointed to conduct reviews when required Health, safety and wellbeing Providing an environment that ensures the safety and wellbeing of employees, customers, contractors and the public at DXC properties and responding to events that have the potential to disrupt business continuity – Death or injury (physical or psychological) at DXC properties – Loss of broader community confidence – Costs or sanctions from regulatory response, remediation or restoration, and criminal or civil proceedings – Inability to sustain performance or deliver objectives – Business disruption – Dexus implements an ISO 45001 accredited Occupational Health and Safety Management System including: • Contractor management system and procedures to facilitate safe systems of work • Scheduled WHS risk assessment and audit program to identify risks across DXC-owned assets and operations, and confirm controls are working effectively – Maintain a business continuity management framework to mitigate threats. Responsiveness at each Dexus-managed property is regularly tested through scenario exercises. Key performance indicators for reporting and resolution of security issues are embedded into contractor agreements at Dexus-managed assets. Performance of manager Services and activities provided by the manager e.g. fund management services, cyber and data security, third-party supplier management, people and culture – Disruption to business impacting key stakeholder groups – Unplanned loss of key fund management capability (including increased employee turnover or absenteeism) – Reduction in employee wellbeing and engagement – Financial loss – Breach of laws/regulations resulting in sanctions and fines – Decrease in business performance, agility and resilience – Reputational damage – Regular Board reporting including key risk, incident and breach updates – Regular monitoring of key metrics – Succession plans for key fund management personnel – Engagement with management to ensure visibility and oversight of key business activities and processes – Regular review and oversight of applicable business policies Significant legal matter for Manager, Dexus: Australia Pacific Airports Corporation (APAC) DXC has no investment or involvement in the APAC matter. DXC's Manager, Dexus, is also the manager of a group of interests in APAC which is subject to an ongoing legal matter. Further communications and ASX announcements can be found at www.dexus.com Risk Potential impacts How DXC is responding FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 33
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Directors’ Report continued Directors' Remuneration No remuneration or director fees have been paid by the Group to the Directors or key management personnel of DXAM in their capacity as Directors or key management personnel of the Responsible Entity. No loans have been provided to the Directors or key management personnel of DXAM in the current financial year. Directors’ directorships in other listed entities The following table sets out directorships of other ASX listed entities (unless otherwise stated), not including DXAM or Industria Company No. 1 Limited (which is part of the DXI stapled group, a fund managed by Dexus), held by the Directors at any time in the three years immediately prior to the end of the year, and the period for which each directorship was held. Directors Company Date appointed Date resigned Jennifer Horrigan A2B Australia Limited 11 September 2020 11 April 2024 Danielle Carter BWP Management Limited 1 December 2021 — Emily Smith — — — Jonathan Sweeney EP&T Global Limited 1 March 2021 26 March 2024 Michael Sheffield1 — — — Brett Cameron - Alternate Director2 — — — Melanie Bourke3 — — — 1 Appointed as Executive Director of the DXAM Board effective 29 May 2026. 2 Ceased as alternate director for Melanie Bourke and was appointed as alternate director for Michael Sheffield on 29 May 2026. 3 Resigned as Executive Director of the DXAM Board effective 29 May 2026. 34 Dexus Convenience Retail REIT 2026 Annual Report
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Principal activities During the year, the principal activity of the Group was to own and manage a quality portfolio of convenience retail properties that offer secure income streams and have the potential for capital growth. The Group consists of three registered managed investment schemes domiciled in Australia and together forms Dexus Convenience Retail REIT which is listed on the Australian Securities Exchange ("ASX") (ASX Ticker: "DXC"). The parent entity of the Group is Convenience Retail REIT No. 2. The Group did not have any employees during the year. Total value of Group assets The total value of the assets of the Group as at 30 June 2026 was $788,334,000 (2025: $736,437,000). Details of the basis of this valuation are outlined in the Notes to the Consolidated Financial Statements and form part of this Directors’ Report. Likely developments and expected results of operations In the opinion of the Directors, disclosure of any further information regarding business strategies and future developments or results of the Group, other than the information already outlined in this Directors’ Report or the Consolidated Financial Statements accompanying this Directors’ Report would be unreasonably prejudicial to the Group. Significant changes in the state of affairs During the financial year, DXC had no significant changes in its state of affairs. Matters subsequent to the end of the financial year Since the end of the year, the Directors are not aware of any matter or circumstance not otherwise dealt with in their Directors’ Report or the Consolidated Financial Statements that has significantly or may significantly affect the operations of the Group, the results of those operations, or state of the Group’s affairs in future financial periods. Distributions Distributions paid or payable by the Group for the year ended 30 June 2026 were 20.90 cents per security which amounted to $28,668,000 (2025: 20.65 cents per security, $28,447,000) as outlined in note 6 of the Notes to the Consolidated Financial Statements. Interests in DXC securities The movement in securities on issue in the Group during the year and the number of securities on issue as at 30 June 2026 are detailed in note 12 and form part of this Directors’ Report. Interests held in the Group by DXAM and its related entities at the end of the financial year is 16,320,883 securities (2025: 16,702,195 securities). The Group did not have any options on issue as at 30 June 2026 (2025: nil). Environmental regulation The Responsible Entity, DXAM, is part of the Dexus Group. The Dexus Group Audit, Risk and Compliance Committee and Dexus Group Board Sustainability Committee (the Committees) oversee the policies, procedures and systems that have been implemented to ensure the adequacy of Dexus' environmental risk management practices. The Committees are not aware of any material breaches of the Corporations Act or Regulatory Guide 68. The Dexus Group is subject to the reporting requirements of the National Greenhouse and Energy Reporting Act 2007 (NGER Act). The NGER Act requires the Dexus Group to report its annual greenhouse gas emissions and energy use. The Dexus Group has implemented systems and processes for the collection and calculation of the data required. The Dexus Group submitted its 2025 report to the Greenhouse and Energy Data Officer on 29 October 2025 and will submit its 2026 report by 31 October 2026. During the 12 month period ending 30 June 2026, the Dexus Group complied with all the relevant requirements as set out by the NGER Act. Information regarding the Dexus Group’s participation in the NGER program is available at: www.dexus.com/ sustainability. Indemnification and insurance The insurance premium for a policy of insurance indemnifying Directors, Officers and others (as defined in the relevant policy of insurance) is paid by DXAM’s parent entity, Dexus Holdings Pty Limited (DXH). Subject to specified exclusions, the liabilities insured are for costs that may be incurred in defending civil or criminal proceedings that may be brought against Directors and Officers in their capacity as Directors and Officers of DXAM, its subsidiaries or such other entities, and other payments arising from liabilities incurred by the Directors and Officers in connection with such proceedings. KPMG, (the “Auditor”), is indemnified out of the assets of DXAM pursuant to the Dexus Specific Terms of Business agreed for all engagements with KPMG, to the extent that DXAM inappropriately uses or discloses a report prepared by KPMG. The Auditor is not indemnified for the provision of services where such indemnification is prohibited by the Corporations Act 2001. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 35
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Directors' Report continued Audit Auditor KPMG continues in office in accordance with section 327 of the Corporations Act 2001. In accordance with section 324DAA of the Corporations Act 2001, the Group’s lead auditor must be rotated every five years unless the Board grants approval to extend the term for up to a further two years. Non-audit services The Group may decide to engage the Auditor on assignments, in addition to the statutory audit engagement, where the Auditor’s expertise and experience with the Group are important. Details of the amounts paid or payable to the Auditor for audit and non-audit services provided during the year are set out in note 14. The Audit, Risk and Compliance Committee is satisfied that the provision of non-audit services provided during the year by the Auditor (or by another person or firm on the Auditor’s behalf) is compatible with the standard of independence for auditors imposed by the Corporations Act 2001. The reasons for the Directors being satisfied are: – All non-audit services have been reviewed by the Audit, Risk and Compliance Committee to ensure that they do not impact the impartiality and objectivity of the Auditor; and – None of the services undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants. – The above Directors’ statements are in accordance with the advice received from the Audit, Risk and Compliance Committee. Auditor's Independence Declaration A copy of the Auditor's Independence Declaration as required under section 307C of the Corporations Act 2001 is set out on page 37 and forms part of this Directors' Report. Corporate governance DXAM’s Corporate Governance Statement is available at: www.dexus.com/dxc Rounding of amounts and currency As the Group is an entity of the kind referred to in ASIC Corporations (Rounding in Financial/Directors' Reports) Instrument 2026/183, the Directors have chosen to round amounts in this Directors' Report and the accompanying Consolidated Financial Statements to the nearest thousand dollars, unless otherwise indicated. All figures in this Directors' Report and the Consolidated Financial Statements, except where otherwise stated, are expressed in Australian dollars. Directors' authorisation The Directors’ Report is made in accordance with a resolution of the Directors. The Consolidated Financial Statements were authorised for issue by the Directors on 10 August 2026. Jennifer Horrigan Chair 10 August 2026 36 Dexus Convenience Retail REIT 2026 Annual Report
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Auditor’s Independence Declaration FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 37 KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation. Lead Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001 To the Directors of Dexus Asset Management Limited (DXAM) as Responsible Entity of Convenience Retail REIT No. 2 (CRR2 or the Trust and deemed parent entity) and its controlled entities (together Dexus Convenience Retail REIT) I declare that, to the best of my knowledge and belief, in relation to the audit of Dexus Convenience Retail REIT for the financial year ended 30 June 2026 there have been: i. no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and ii. no contraventions of any applicable code of professional conduct in relation to the audit. KPMG Cameron Slapp Partner Sydney 10 August 2026
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Consolidated Statement of Comprehensive Income For the year ended 30 June 2026 2026 2025 Note $'000 $'000 Revenue from ordinary activities Property revenue 2 54,651 55,954 Total revenue from ordinary activities 54,651 55,954 Other income Interest revenue 85 102 Net fair value gain of investment properties 7 27,356 16,648 Net fair value gain of derivatives 9(c) 1,074 — Total other income 28,515 16,750 Total income 83,166 72,704 Expenses Property expenses 2 (9,442) (9,509) Finance costs 3 (11,584) (11,412) Management fee expense 16 (4,796) (4,641) Net fair value loss of derivatives 9(c) — (6,836) Other expenses (942) (932) Total expenses (26,764) (33,330) Profit for the year 56,402 39,374 Profit for the year attributable to: Security holders of the parent entity 16,720 10,858 Security holders of other stapled entities (non-controlling interests)1 39,682 28,516 Profit for the year 56,402 39,374 Other comprehensive income for the year — — Total comprehensive income for the year 56,402 39,374 Total comprehensive income for the year attributable to: Security holders of the parent entity 16,720 10,858 Security holders of other stapled entities (non-controlling interests)1 39,682 28,516 Total comprehensive income for the year 56,402 39,374 Cents Cents Earnings per stapled security on profit/(loss) attributable to security holders of the Trust (parent entity) Basic earnings per security 5 12.16 7.88 Diluted earnings per security 5 12.16 7.88 Earnings per stapled security on profit/(loss) attributable to security holders of other stapled entities1 Basic earnings per security 5 28.87 20.70 Diluted earnings per security 5 28.87 20.70 1 Non-controlling interests represent the profit/(loss) and total comprehensive income/(loss) for the year attributable to Convenience Retail REIT No. 1 (CRR1) and Convenience Retail REIT No. 3 (CRR3). The above Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying notes. 38 Dexus Convenience Retail REIT 2026 Annual Report
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Consolidated Statement of Financial Position As at 30 June 2026 2026 2025 Note $'000 $'000 Current assets Cash and cash equivalents 13(a) 2,211 2,396 Receivables 13(b) 2,386 1,186 Non-current assets classified as held for sale 8 8,000 — Derivative financial instruments 9(c) 1,469 1,563 Other current assets 13(c) 2,261 2,184 Total current assets 16,327 7,329 Non-current assets Investment properties 7 770,919 728,410 Derivative financial instruments 9(c) 1,062 626 Other non-current assets 26 72 Total non-current assets 772,007 729,108 Total assets 788,334 736,437 Current liabilities Derivative financial instruments 9(c) — 196 Payables 13(d) 13,841 7,549 Provisions 13(e) 9,263 9,325 Other current liabilities 593 1,000 Total current liabilities 23,697 18,070 Non-current liabilities Derivative financial instruments 9(c) 481 1,017 Interest bearing liabilities 10 240,129 215,507 Total non-current liabilities 240,610 216,524 Total liabilities 264,307 234,594 Net assets 524,027 501,843 Equity Equity attributable to security holders of the Trust (parent entity) Contributed equity 12 188,079 190,507 Retained profits 38,891 29,240 Parent entity security holders' interest 226,970 219,747 Equity attributable to security holders of other stapled entities (non-controlling interests)1 Contributed equity 12 213,634 216,756 Retained profits 83,423 65,340 Other stapled security holders' interest 297,057 282,096 Total equity 524,027 501,843 1 Non-controlling interests represent the net assets attributable to Convenience Retail REIT No. 1 (CRR1) and Convenience Retail REIT No. 3 (CRR3). The above Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 39
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Consolidated Statement of Changes in Equity For the year ended 30 June 2026 Attributable to security holders of the Trust (parent entity) Attributable to security holders of other stapled entities1 Contribute d equity Retained profits Total Contribute d equity Retained profits Total Total equity Note $'000 $'000 $'000 $'000 $'000 $'000 $'000 Opening balance as at 1 July 2024 190,507 28,783 219,290 216,756 54,870 271,626 490,916 Net profit for the year — 10,858 10,858 — 28,516 28,516 39,374 Other comprehensive income for the year — — — — — — — Total comprehensive income for the year — 10,858 10,858 — 28,516 28,516 39,374 Transactions with owners in their capacity as owners Distributions paid or payable 6 — (10,401) (10,401) — (18,046) (18,046) (28,447) Total transactions with owners in their capacity as owners — (10,401) (10,401) — (18,046) (18,046) (28,447) Closing balance as at 30 June 2025 190,507 29,240 219,747 216,756 65,340 282,096 501,843 Opening balance as at 1 July 2025 190,507 29,240 219,747 216,756 65,340 282,096 501,843 Net profit for the year — 16,720 16,720 — 39,682 39,682 56,402 Other comprehensive income for the year — — — — — — — Total comprehensive income for the year — 16,720 16,720 — 39,682 39,682 56,402 Transactions with owners in their capacity as owners Buy-back of contributed equity 12 (2,428) — (2,428) (3,122) — (3,122) (5,550) Distributions paid or payable 6 — (7,069) (7,069) — (21,599) (21,599) (28,668) Total transactions with owners in their capacity as owners (2,428) (7,069) (9,497) (3,122) (21,599) (24,721) (34,218) Closing balance as at 30 June 2026 188,079 38,891 226,970 213,634 83,423 297,057 524,027 1 Non-controlling interests represent the equity attributable to Convenience Retail REIT No. 1 (CRR1) and Convenience Retail REIT No. 3 (CRR3). The above Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes. 40 Dexus Convenience Retail REIT 2026 Annual Report
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Consolidated Statement of Cash Flows For the year ended 30 June 2026 2026 2025 Note $'000 $'000 Cash flows from operating activities Receipts in the course of operations (inclusive of GST) 59,270 59,087 Payments in the course of operations (inclusive of GST) (20,670) (20,829) Interest received 85 102 Finance costs paid (10,002) (11,271) Net cash inflow/(outflow) from operating activities 15(a) 28,683 27,089 Cash flows from investing activities Proceeds from sale of investment properties — 37,819 Payments for capital expenditure on investment properties (18,524) (6,848) Net cash inflow/(outflow) from investing activities (18,524) 30,971 Cash flows from financing activities Proceeds from borrowings 61,500 132,500 Repayment of borrowings (37,500) (161,500) Payments for buy-back of contributed equity (5,550) — Distributions paid to security holders (28,794) (28,582) Net cash inflow/(outflow) from financing activities (10,344) (57,582) Net increase/(decrease) in cash and cash equivalents (185) 478 Cash and cash equivalents at the beginning of the year 2,396 1,918 Cash and cash equivalents at the end of the year 2,211 2,396 The above Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 41
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Notes to the Consolidated Financial Statements In this section This section sets out the basis upon which the Group’s Consolidated Financial Statements are prepared. Specific accounting policies are described in their respective Notes to the Consolidated Financial Statements. Basis of preparation These Consolidated Financial Statements are general purpose financial statements which have been prepared in accordance with the requirements of the Constitutions of the entities within the Group, the Corporations Act 2001, Australian Accounting Standards issued by the Australian Accounting Standards Board and the International Financial Reporting Standards adopted by the International Accounting Standards Board. Unless otherwise stated, the Consolidated Financial Statements have been prepared using consistent accounting policies in line with those of the previous financial year and corresponding interim reporting period. Where required, comparative information has been restated for consistency with the current year’s presentation. The Consolidated Financial Statements are presented in Australian dollars, with all values rounded to the nearest thousand dollars in accordance with ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183, unless otherwise stated. The Consolidated Financial Statements have been prepared on a going concern basis using the historical cost convention, except for the following which are stated at their fair value: – Investment properties – Non-current assets classified as held for sale – Derivative financial instruments DXC stapled securities are quoted on the Australian Securities Exchange under the “DXC” code and comprise one unit in each of CRR1, CRR2 and CRR3. In accordance with Australian Accounting Standards, the entities within the Group must be consolidated for financial reporting purposes. CRR2 is the parent entity and deemed acquirer of CRR1 and CRR3. These Consolidated Financial Statements therefore represent the consolidated results of DXC and include CRR1, CRR2 and CRR3. All entities within the Group are for-profit entities. Equity attributable to other trusts stapled to CRR2 is a form of non-controlling interest and represents the equity of CRR1 and CRR3. The amount of non-controlling interests attributable to stapled security holders is disclosed in the Consolidated Statement of Financial Position. Each entity forming part of the Group continues as a separate legal entity in its own right under the Corporations Act 2001 and is therefore required to comply with the reporting and disclosure requirements under the Corporations Act 2001 and Australian Accounting Standards. Dexus Asset Management Limited (DXAM) as Responsible Entity for CRR1, CRR2 and CRR3 may only unstaple the Group if approval is obtained by a special resolution of the stapled security holders. Net current asset deficiency As at 30 June 2026, the Group had a net current asset deficiency of $7,370,000 (30 June 2025: $10,741,000) consistent with working capital management processes applied in prior periods. This is primarily due to distributions payable to stapled security holders of $7,088,000 and accrued capital expenditures of $ 6,469,000. Capital risk management is managed holistically through a centralised treasury function. The Group has in place external funding arrangements to support the cash flow requirements of the Group, including undrawn facilities of $39,600,000 (30 June 2025: $48,600,000). In determining the basis of preparation of the Consolidated Financial Statements, the Directors of the Responsible Entity have taken into consideration the unutilised facilities available to the Group. As such, the Group is a going concern and the Consolidated Financial Statements have been prepared on that basis. Critical accounting estimates The preparation of the Consolidated Financial Statements requires the use of certain critical accounting estimates and management to exercise its judgement in the process of applying the Group’s accounting policies. In the process of applying the Group’s accounting policies, management has considered the current economic environment and the estimates and assumptions used for the measurement of items such as: – Investment properties; – Non-current assets classified as held for sale; and – Derivative financial instruments No other key assumptions concerning the future or other estimation uncertainty at the end of the reporting period could have a significant risk of causing material adjustments to the Consolidated Financial Statements. Accounting standards issued but not yet effective The Group has not applied the following new and revised Australian Accounting Standards, Interpretations and amendments that have been issued but are not yet effective: AASB 18 Presentation and Disclosure in Financial Statements AASB 18 replaces AASB 101 Presentation of Financial Statements and is effective for annual reporting periods beginning 1 January 2027. The new standard will impact the presentation and disclosure in the Consolidated Financial Statements by introducing new categories and defined subtotals in the Consolidated Statement of Comprehensive Income, requiring the disclosure of management-defined performance measures, and changing the grouping of information in the Consolidated Financial Statements. The Group is assessing the impact of this standard. 42 Dexus Convenience Retail REIT 2026 Annual Report
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Climate change In June 2023, the International Sustainability Standards Board (ISSB) released new sustainability standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. In September 2024, the Australian Accounting Standards Board (AASB) released Australian Sustainability Reporting Standards, AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information and AASB S2 Climate-related Disclosures; and the “Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024” was passed by Parliament. Under the Act, the AASB S2 reporting requirements will be mandatory for the year ended 30 June 2028 for the Group. The Group is continuing to develop its assessment of the impact of climate change in line with emerging industry and regulatory guidance on its Consolidated Financial Statements. The Dexus Climate Transition Action Plan (CTAP) released in June 2025 provides further details on the Dexus Group’s strategic approach to managing climate related risks and opportunities across its real assets platform. Principles of consolidation These Consolidated Financial Statements incorporate the assets, liabilities and results of all subsidiaries as at 30 June 2026. Controlled entities Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. Goods and services tax Revenues, expenses and capital assets are recognised net of any amount of Australian Goods and Services Tax (GST), except where the amount of GST incurred is not recoverable. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of the expense. Cash flows are included in the Consolidated Statement of Cash Flows on a gross basis. The GST component of cash flows arising from investing and financing activities that is recoverable from or payable to the Australian Taxation Office is classified as cash flows from operating activities. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 43
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Notes to the Consolidated Financial Statements continued The Notes include information which is required to understand the Consolidated Financial Statements and is material and relevant to the operations, financial position and performance of the Group. The Notes are organised into the following sections: Group performance Property portfolio assets Capital and financial risk management Other disclosures 1. Operating segment 7. Investment properties 9. Capital and financial risk management 14. Audit, taxation and transaction service fees 2. Property revenue and expenses 8. Non-current assets classified as held for sale 10. Interest bearing liabilities 15. Cash flow information 3. Finance costs 11. Commitments and contingencies 16. Related parties 4. Taxation 12. Contributed equity 17. Controlled entities 5. Earnings per security 13. Working capital 18. Parent entity disclosures 6. Distributions paid and payable 19. Subsequent events 44 Dexus Convenience Retail REIT 2026 Annual Report
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Group performance In this section This section explains the results and performance of the Group. It provides additional information about those individual line items in the Consolidated Financial Statements that the Directors consider most relevant in the context of the operations of the Group, including: – Results by operating segment – Property revenue and expenses – Finance costs – Taxation – Earnings per security – Distributions paid and payable Note 1 Operating segment The Group derives its income from investment in properties located in Australia and is deemed to have only one operating segment which is consistent with the reporting reviewed by the chief operating decision makers. The Directors consider the Property Council of Australia (PCA) definition of FFO to be a measure that reflects the underlying performance of the Group. A reconciliation of DXC's FFO to profit for the year is tabled below: 2026 2025 $'000 $'000 Segment performance measures Property revenue 54,651 55,954 Property expenses (9,442) (9,509) Net Rental Income 45,209 46,445 Management fee expense (4,796) (4,641) Other expenses (942) (932) Interest and other income 85 102 Finance costs (11,118) (10,197) Incentive amortisation and rent straight lining (867) (2,679) Rental guarantees, coupon income and other 1,160 349 FFO 28,731 28,447 Net fair value gain of investment properties 27,356 16,648 Net fair value gain/(loss) of derivatives 1,074 (6,836) Incentive amortisation and rent straight lining 867 2,679 Debt modification (466) (1,215) Rental guarantees, coupon income and other (1,160) (349) Profit for the year 56,402 39,374 Note 2 Property revenue and expenses The Group’s main revenue stream is property rental revenue and is derived from holding properties as investment properties and earning rental yields over time. Rental revenue is recognised on a straight line basis over the lease term for leases with fixed rent review clauses. Prospective tenants may be offered incentives as an inducement to enter into operating leases. The costs of incentives are recognised as a reduction of rental revenue, being incentive amortisation calculated on a straight line basis from the lease commencement date to the end of the lease term. The carrying amount of lease incentives is reflected in the fair value of investment properties. Within its lease arrangements, the Group provides certain services to tenants (such as utilities, cleaning, maintenance and certain parking arrangements) which are accounted for in accordance with AASB 15 Revenue from Contracts with Customers. A portion of the consideration within the lease arrangements is therefore allocated to services revenue within property revenue. 2026 2025 $'000 $'000 Rental income 49,289 50,442 Outgoings and direct recoveries 3,951 3,950 Services revenue 1,770 1,622 Incentive amortisation (359) (60) Total property revenue 54,651 55,954 FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 45
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Group performance continued Note 2 Property revenue and expenses continued Property expenses Property expenses include: – Rates; – Taxes; – Expected credit losses on receivables; and – Other property outgoings incurred in relation to investment properties. These expenses are recognised in the Consolidated Statement of Comprehensive Income on an accrual basis. If these items are recovered from a tenant by the Group, they are recorded within services revenue or direct recoveries within property revenue. 2026 2025 $'000 $'000 Recoverable outgoings and direct recoveries 6,524 6,334 Other non-recoverable property expenses 2,918 3,175 Total property expenses 9,442 9,509 Note 3 Finance costs Finance costs include: – Interest; – Debt modifications; – Amortisation or other costs incurred in connection with arrangement of borrowings; and – Realised gains and losses on interest rate derivatives. Finance costs are expensed as incurred unless they are directly attributable to qualifying assets which are capitalised to the cost of the asset. 2026 2025 $'000 $'000 Interest paid/payable1 12,509 13,607 Amortisation of borrowing costs 397 440 Debt modifications 466 1,215 Realised gain on interest rate derivatives (1,840) (3,872) Other finance costs 52 22 Total finance costs 11,584 11,412 1 Includes $1,713,000 (2025: $1,855,000) of line fees expensed during the year. Note 4 Taxation All Trusts that comprise DXC are “flow-through” entities for Australian income tax purposes that have elected into the Attribution Managed Investment Trusts rules (“AMIT Funds”) on and from 1 July 2017, such that the determined trust components of each AMIT Fund will be taxable in the hands of the beneficiaries (the security holders) on an attribution basis. Accordingly, deferred taxes associated with these AMIT Funds have not been recognised in the Consolidated Financial Statements in relation to differences between the carrying amounts of assets and liabilities and their respective tax bases, including taxes on capital gains/(losses) which could arise in the event of a sale of properties for the amount at which they are stated in the Consolidated Financial Statements. Realised capital losses are not attributed to the security holders but instead are retained within the AMIT Funds to be offset against realised capital gains. The benefit of any carried forward capital losses is also not recognised in the Consolidated Financial Statements. If in any period realised capital gains exceed realised capital losses, including those carried forward from earlier periods and eligible for offset, the excess is included in taxable income attributed to security holders as noted above. For the year ended 30 June 2026, there were no unrecognised carried forward capital losses (2025: nil). 46 Dexus Convenience Retail REIT 2026 Annual Report
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Note 5 Earnings per security Earnings per security are determined by dividing the net profit or loss attributable to security holders by the weighted average number of ordinary securities outstanding during the year. Diluted earnings per security are adjusted from the basic earnings per security by taking into account the impact of dilutive potential securities. 2026 2025 Profit/(loss) ($'000) attributable to security holders of the Trust (parent entity) 16,720 10,858 Weighted average number of securities outstanding (thousands) 137,468 137,757 Basic and diluted earnings (cents per security) 12.16 7.88 Profit/(loss) ($'000) attributable to security holders of the other stapled entities 39,682 28,516 Weighted average number of securities outstanding (thousands) 137,468 137,757 Basic and diluted earnings (cents per security) 28.87 20.70 No dilutive securities were issued or on issue during the current year (2025: nil). Note 6 Distributions paid and payable Distributions are recognised when declared. Distribution to security holders 2026 2025 $'000 $'000 30 September (paid 13 November 2025) 7,198 7,078 31 December (paid 19 February 2026) 7,198 7,078 31 March (paid 14 May 2026) 7,184 7,077 30 June (payable 20 August 2026) 7,088 7,214 Total distribution to security holders 28,668 28,447 Distribution rate 2026 2025 Cents per security Cents per security 30 September (paid 13 November 2025) 5.225 5.138 31 December (paid 19 February 2026) 5.225 5.138 31 March (paid 14 May 2026) 5.225 5.137 30 June (payable 20 August 2026) 5.225 5.237 Total distribution rate 20.900 20.650 FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 47
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Property portfolio assets In this section Property portfolio assets are used to generate the Group’s performance. The assets are detailed in the following notes: – Investment properties (note 7): relates to investment properties, both stabilised and under development – Non-current assets classified as held for sale (note 8): relates to investment properties which are expected to be sold within 12 months of the reporting date and/or contracts have already exchanged. Note 7 Investment properties The Group’s investment properties consist of properties held for long-term rental yields and/or capital appreciation and property that is being constructed or developed for future use as investment property. Investment properties are initially recognised at cost including transaction costs. Investment properties are subsequently measured at fair value. The basis of valuations of investment properties is fair value, being the estimated price that would be received to sell the asset in an orderly transaction between market participants at the measurement date. Changes in fair values are recorded in the Consolidated Statement of Comprehensive Income. The gain or loss on disposal of an investment property is calculated as the difference between the carrying amount of the asset at the date of disposal and the net proceeds from disposal and is included in the Consolidated Statement of Comprehensive Income in the year of disposal. Redevelopment and refurbishment costs (other than repairs and maintenance) are capitalised to the investment property where they result in an enhancement in the future economic benefits of the property. Leasing fees incurred and incentives provided are capitalised and amortised over the lease periods to which they relate. a. Reconciliation 2026 2025 $'000 $'000 Opening balance 728,410 740,680 Additions1 21,883 5,642 Lease incentives 403 1,201 Amortisation of lease incentives (522) (193) Rent straightlining 1,389 2,872 Disposals — (38,440) Transfer to non-current assets classified as held for sale (8,000) — Net fair value gain/(loss) of investment properties 27,356 16,648 Closing balance 770,919 728,410 1 Includes $1,756,000 (2025: $1,624,000) of maintenance capital expenditure incurred during the year. b. Acquisitions In January 2026, DXC agreed to acquire two fund-through developments at Mayfield, NSW and Bulahdelah, NSW, subject to conditions precedent, including finalisation of lease agreements. The fund-through developments comprise a metro and highway site with a combined project cost of circa $35.0 million with settlement expected in the 2027 financial year. 48 Dexus Convenience Retail REIT 2026 Annual Report
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Note 7 Investment properties continued c. Valuation process It is the policy of the Group to obtain independent valuations for each individual property at least once every three years by a member of the Australian Property Institute of Valuers. It has been the Group’s practice to have such valuations performed for a selection of properties every six months. Each valuation firm and its signatory valuer are appointed on the basis that they are engaged for no more than three years except for properties under development where it is deemed appropriate to extend beyond this term. Independent valuations may be undertaken more frequently where the Responsible Entity believes there is potential for a change in the fair value of the property, being 5% of the asset value. During the year, 71% of investment properties, by value, were independently externally valued. The Group’s policy requires investment properties to be internally valued at least every six months at each reporting period (interim and full-year) unless they have been independently externally valued. Internal valuations are compared to the carrying value of investment properties at the reporting date. Where the Directors determine that the internal valuations present a more reliable estimate of fair value the internal valuation is adopted as book value. Where appropriate, internal valuations are performed by the Group’s internal valuers who hold recognised relevant professional qualifications and have previous experience as property valuers from major real estate valuation firms. An appropriate valuation methodology is utilised according to asset class. In relation to convenience retail assets this includes the capitalisation approach (market approach). The valuation is also compared to, and supported by, direct comparison to recent market transactions. The adopted capitalisation rates are determined based on industry expertise and knowledge and, where possible, a direct comparison to third party rates for similar assets in a comparable location. Rental revenue from current leases and assumptions about future leases, as well as any expected operational cash outflows in relation to the property, are also factored into each asset assessment of fair value. In relation to development properties under construction for future use as investment property, where reliably measurable, fair value is determined based on the market value of the property on the assumption it had already been completed at the valuation date (using the methodology as outlined above) less costs still required to complete the project, including an appropriate adjustment for industry benchmarked profit and development risk. d. Sustainability valuation considerations The Group engages independent valuation firms to assist in determining fair value of the investment property assets at each reporting period. As qualified valuers, they are required to follow the current International Valuation Standards (IVS), the Royal Institute of Chartered Surveyors (RICS) Red Book Global Standards and the Australian Property Institute (API) Valuation and Property Standards, and accordingly their valuations consider sustainability factors, including environmental, social, and governance (ESG) impacts where relevant, and the implications such factors could have on property values in the short, medium and longer term. The Group’s independent valuation firms note in their valuation reports that sustainability features are considered as part of the valuation approach and that sustainability features have been influencing value for some time. Where the independent valuation firms give consideration to the impacts of sustainability, they are incorporating their understanding of how market participants consider the impact of sustainability on market valuations, noting that valuers should reflect markets and not lead them. e. Fair value measurement, valuation techniques and inputs The following table represents the level of the fair value hierarchy and the associated unobservable inputs utilised in the fair value measurement of investment property. Fair value hierarchy Range of unobservable inputs Class of property Inputs used to measure fair value 2026 2025 Convenience retail Level 3 Adopted capitalisation rate 5.25% - 8.50% 5.25% – 8.25% Net market rental (per sqm) $230 - $4,906 $260 – $4,563 Critical accounting estimates: inputs used to measure fair value of investment properties Judgement is required in determining the following significant unobservable inputs: – Adopted capitalisation rate: The rate at which net market rental revenue is capitalised to determine the value of a property. The rate is determined with regard to market evidence and the prior external valuation. – Net market rental (per sqm): The net market rent is the estimated amount for which a property should lease between a lessor and a lessee on appropriate lease terms in an arm’s length transaction. f. Impact of the current economic environment on the fair value of investment properties The elevated levels of economic uncertainty has created heightened levels of judgment when deriving the fair value of the Group’s investment property portfolio. Whilst the fair values of investment property can be relied upon at the date of valuation, a higher level of valuation uncertainty than normal is assumed. A sensitivity analysis has been included in note 7(g), showing indicative movements in investment property valuations should certain significant unobservable inputs differ from those assumed in the valuations. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 49
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Property portfolio assets continued Note 7 Investment properties continued g. Sensitivity information Significant movement in any one of the valuation inputs listed in the table above may result in a change in the fair value of the Group’s investment properties. The estimated impact of a change in certain significant unobservable inputs would result in a change in the fair value as follows: 2026 2025 $'000 $'000 A decrease of 25 basis points in the adopted capitalisation rate 33,135 31,849 An increase of 25 basis points in the adopted capitalisation rate (30,095) (28,891) A decrease of 5% in the net market rental (per sqm) (38,465) (37,382) An increase of 5% in the net market rental (per sqm) 38,885 38,008 Under the capitalisation approach, the net market rental has a strong interrelationship with the adopted capitalisation rate as the fair value of the investment property is derived by capitalising, in perpetuity, the total net market rent receivable. An increase (softening) in the adopted capitalisation rate may offset the impact to fair value of an increase in the net market rent. A decrease (tightening) in the adopted capitalisation rate may also offset the impact to fair value of a decrease in the net market rent. Directionally opposite changes in the net market rent and the adopted capitalisation rate would increase the impact to fair value. h. Investment properties pledged as security Refer to note 10 for information on investment properties pledged as security. Note 8 Non-current assets classified as held for sale Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use, and a sale is considered highly probable. Non-current assets classified as held for sale are presented separately from the other assets in the Consolidated Statement of Financial Position. Non-current assets classified as held for sale relate to investment properties measured at fair value. 2026 2025 $'000 $'000 Non-current investment properties held for sale 8,000 — 8,000 — In May 2026, the Fund exchanged contracts to sell three investment properties with settlement occurring post year end. At 30 June 2026, these properties are disclosed as Non-current assets classified as held for sale carried at their combined contract price totalling $8.0 million with more detail provided below: Date of settlement Property Name July 2026 1 Wishart Street, Gwelup, WA August 2026 1 Flinders Street, Monto, QLD August 2026 74 Connor Street, Zilzie, QLD 50 Dexus Convenience Retail REIT 2026 Annual Report
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Capital and financial risk management In this section The Group’s overall risk management program focuses on reducing volatility from impacts of movements in financial markets and seeks to minimise potential adverse effects on the financial performance of the Group. Note 9 Capital and financial risk management outlines how the Group manages its exposure to a variety of financial risks (interest rate risk, liquidity risk and credit risk) including details of the various derivative financial instruments entered into by the Group. The Board of the Responsible Entity determines the appropriate capital structure of the Group, how much is borrowed from financial institutions and capital markets (debt), and how much is raised from security holders (equity) in order to finance the Group’s activities both now and in the future. This capital structure is detailed in the following notes: – Debt: Interest bearing liabilities in note 10, and Commitments and contingencies in note 11 – Equity: Contributed equity in note 12 Note 13 provides a breakdown of the working capital balances held in the Consolidated Statement of Financial Position. Note 9 Capital and financial risk management Capital and financial risk management is carried out through a centralised treasury function which is governed by a Board approved Treasury Policy. The Dexus Group has an established governance structure which consists of the Executive Committee and Capital Markets Committee. The Executive Committee is responsible for supporting the Group in achieving its goals and objectives, including the prudent financial and risk management of the Group. The Capital Markets Committee has been established to advise the Executive Committee and the Board. The Capital Markets Committee is a management committee that is accountable to the Board. It convenes no less than two times per year and conducts a review of financial risk management exposures including liquidity, funding strategies and hedging. It is also responsible for the development of financial risk management policies and funding strategies for recommendation to the Board, and the approval of treasury transactions within delegated limits and powers. a. Capital risk management The Group manages its capital to ensure that entities within the Group will be able to continue as a going concern while maximising the return to security holders through the optimisation of the debt and equity balance. The capital structure of the Group consists of debt, cash and cash equivalents and equity attributable to security holders. The Group continuously monitors its capital structure and it is managed in consideration of the following factors: – The cost of capital and the financial risks associated with each class of capital – Gearing levels and other debt covenants – Potential impacts on net tangible assets and security holders’ equity – Other market factors The Group has a stated target gearing level of 25% to 40%. As at 30 June 2026, the Group’s gearing ratio was 30.6% (2025: 29.4%). The Group is required to comply with certain financial covenants in respect of its interest bearing liabilities, which are tested semi- annually on 30 June and 31 December each year. During the 2026 and 2025 reporting periods, the Group was in compliance with all of its financial covenants. DXAM is the Responsible Entity for the managed investment schemes that are stapled to form the Group. DXAM has been issued with an Australian Financial Services Licence (AFSL). The licence is subject to certain capital requirements including the requirement to maintain liquidity above specified limits. DXAM must also prepare rolling cash projections over at least the next 12 months and demonstrate it will have access to sufficient financial resources to meet its liabilities that are expected to be payable over that period. Cash projections and assumptions are approved, at least quarterly, by the Board of the Responsible Entity. b. Financial risk management The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the financial performance of the Group. The Group’s principal financial instruments, other than derivatives, comprise cash and bank and related party loans. The main purpose of financial instruments is to manage liquidity and hedge the Group’s exposure to financial risks namely: – Interest rate risk – Liquidity risk – Credit risk FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 51
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Capital and financial risk management continued Note 9 Capital and financial risk management continued b. Financial risk management (continued) The Group uses derivatives to reduce the Group’s exposure to fluctuations in interest rates. These derivatives create an obligation or a right that effectively transfers one or more of the risks associated with an underlying financial instrument, asset or obligation. Derivative financial instruments that the Group may use to hedge its risks include Interest rate swaps and interest rate options (together interest rate derivatives). The Group does not trade in interest rate derivative instruments for speculative purposes. The Group uses different methods to measure the different types of risks to which it is exposed, including monitoring the current and forecast levels of exposure and conducting sensitivity analysis. i. Market risk Interest rate risk Interest rate risk arises from interest bearing financial assets and liabilities that the Group utilises. Non-derivative interest bearing financial instruments are predominantly short term liquid assets issued at variable rates which expose the Group to interest rate risk due to movements in variable interest rates. The Group’s cash and borrowings which have a variable interest rate give rise to cash flow interest rate risk due to movements in variable interest rates. The Group’s risk management policy for interest rate risk seeks to minimise the effects of interest rate movements on its asset and liability portfolio through active management of the exposures. The policy prescribes minimum and maximum hedging amounts for the Group, which is managed on a portfolio basis. The Group maintains local currency variable rate debt with various tenors. The Group primarily enters into interest rate derivatives swap agreements to manage the associated interest rate risk. The derivative contracts are recorded at fair value in the Consolidated Statement of Financial Position, using standard valuation techniques with market inputs. As at 30 June 2026, 60% (2025: 62%) of the Group’s debt was hedged. The average hedged percentage for the financial year was 66% (2025: 72%). Interest rate derivatives require settlement of net interest receivable or payable generally each 90 or 180 days. The settlement dates coincide with the dates on which the interest is payable on the underlying debt. The receivable and payable legs on interest rate derivative contracts are settled on a net basis. The net notional amount of interest rate derivatives in place in each year and the weighted average effective hedge rate is set out below: June 2027 June 2028 June 2029 June 2030 June 2031 $'000 $'000 $'000 $'000 $'000 Interest rate derivatives 138,500 144,667 108,333 — — Hedge rate (%) 3.33 % 4.06 % 4.57 % — % — % Sensitivity analysis on interest expense The table below shows the impact on the Group’s net interest expense of a 100 basis point movement in market interest rates. The sensitivity on cash flow arises due to the impact that a change in interest rates will have on the Group’s floating rate debt and derivative cash flows on average during the financial year. Net interest expense is only sensitive to movements in market rates to the extent that floating rate debt is not hedged. 2026 2025 $'000 $'000 +/- 1.00% (100 basis points) 785 628 Total 785 628 The movement in interest expense is proportional to the movement in interest rates. Sensitivity analysis on fair value of interest rate derivatives The sensitivity analysis on interest rate derivatives below shows the effect on net profit or loss of changes in the fair value of interest rate derivatives for a 100 basis point movement in market interest rates. The sensitivity on fair value arises from the impact that changes in market rates will have on the valuation of the interest rate derivatives. The fair value of interest rate derivatives is calculated as the present value of estimated future cash flows on the instruments. Although interest rate derivatives are transacted for the purpose of providing the Group with an economic hedge, the Group has elected not to apply hedge accounting to these instruments. Accordingly, gains or losses arising from changes in the fair value are reflected in the profit or loss. 2026 2025 $'000 $'000 +/- 1.00% (100 basis points) 3,513 3,171 Total 3,513 3,171 52 Dexus Convenience Retail REIT 2026 Annual Report
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Note 9 Capital and financial risk management continued b. Financial risk management (continued) ii. Liquidity risk Liquidity risk is associated with ensuring that there are sufficient funds available to meet the Group’s financial commitments as and when they fall due and planning for any unforeseen events which may curtail cash flows. The Group identifies and manages liquidity risk across the following categories: – Short-term liquidity risk management through ensuring the Group has sufficient liquid assets, working capital and borrowings facilities to cover short-term financial obligations; and – Funding and refinancing liquidity risk management through ensuring an adequate spread of maturities of borrowing facilities so that refinancing risk is not concentrated in certain time periods and ensuring an adequate diversification of funding sources where possible, subject to market conditions. Refinancing risk Refinancing risk is the risk that the Group: – Will be unable to refinance its debt facilities as they mature – Will only be able to refinance its debt facilities at unfavourable interest rates and credit market conditions (margin price risk) The Group’s key risk management strategy for margin price risk on refinancing is to spread the maturities of debt facilities over different time periods to reduce the volume of facilities to be refinanced and the exposure to market conditions in any one period. An analysis of the contractual maturities of the Group’s financial liabilities is shown in the table below. The amounts in the table represent undiscounted cash flows. 2026 2025 Within one year Between one and two years Between two and five years After five years Within one year Between one and two years Between two and five years After five years $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 Payables 13,841 — — — 7,549 — — — Provisions 9,263 — — — 9,325 — — — Interest bearing liabilities 12,571 30,577 220,189 31,485 10,986 11,628 201,091 45,967 iii. Credit risk Credit risk is the risk that the counterparty will not fulfil its obligations under the terms of a financial instrument and will cause financial loss to the Group. The Group has exposure to credit risk on financial assets and derivative instruments included in the Group’s Consolidated Statement of Financial Position. The Group manages this risk by: – Adopting a process for determining an approved counterparty, with consideration of qualitative factors as well as the counterparty’s credit rating – Regularly monitoring counterparty exposure within approved credit limits that are based on the lower of an S&P and Moody’s credit rating. The exposure includes the current market value of in-the-money contracts and the potential exposure, which is measured with reference to credit conversion factors as per APRA guidelines – Entering into International Swaps and Derivatives Association (ISDA) Master Agreements once a financial institution counterparty is approved – For some trade receivables, obtaining collateral where necessary in the form of bank guarantees and tenant bonds – Regularly monitoring loans and receivables on an ongoing basis A minimum S&P rating of A– (or Moody’s equivalent) is required to become or remain an approved counterparty unless otherwise approved by the Responsible Entity’s Board. The Group is exposed to credit risk on cash balances and on derivative financial instruments with financial institutions. The Group has a policy that sets limits as to the amount of credit exposure to each financial institution. New derivatives and cash transactions are limited to financial institutions that meet minimum credit rating criteria in accordance with the Group’s policy requirements. Financial instrument transactions are spread among a number of approved financial institutions within specified credit limits to minimise the Group’s exposure to any one counterparty. As a result, there is no significant concentration of credit risk for financial instruments. The maximum exposure to credit risk at 30 June 2026 is the carrying amounts of financial assets recognised on the Consolidated Statement of Financial Position. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 53
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Capital and financial risk management continued Note 9 Capital and financial risk management continued b. Financial risk management (continued) iii. Credit risk (continued) The Group is exposed to credit risk on trade receivable balances. The Group has a policy to assess and monitor the credit quality of trade debtors on an ongoing basis. Given the historical profile and exposure of the trade receivables, it has been determined that no significant concentrations of credit risk exists for receivables balances. The maximum exposure to credit risk at 30 June 2026 is the carrying amounts of the receivables recognised on the Consolidated Statement of Financial Position. iv. Fair value The Group uses the following methods in the determination and disclosure of the fair value of assets and liabilities: – Level 1: the fair value is calculated using quoted prices in active markets. – Level 2: the fair value is determined using inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices). – Level 3: the fair value is estimated using inputs for the asset or liability that are not based on observable data. All derivative financial instruments were measured at Level 2 for the periods presented in this report. All investment properties were appropriately measured at Level 3 for the periods presented in this report. During the year, there were no transfers between Level 1, 2 and 3 fair value measurements. Since cash, receivables and payables are short-term in nature, their fair values are not materially different from their carrying amounts. The fair values of borrowings are not materially different to their carrying amounts, since the interest payable on those borrowings is close to current market rates. Critical accounting estimates: fair value of derivatives The fair value of derivatives has been determined based on observable market inputs (interest rates) and applying a credit or debit value adjustment based on the current credit worthiness of counterparties and the Group. v. Offsetting financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the Consolidated Statement of Financial Position where there is a legally enforceable right to set-off the recognised amounts and there is an intention to settle on a net basis, or realise the asset and settle the liability simultaneously. No financial assets and liabilities are currently held under netting arrangements. c. Derivative financial instruments A derivative is a type of financial instrument typically used to manage risk. A derivative’s value changes over time in response to an underlying benchmark, such as interest rates, exchange rates, or asset values, and is entered into for a fixed period. A hedge is where a derivative is used to manage an underlying exposure. Written policies and limits are approved by the Board of Directors of the Responsible Entity, in relation to the use of financial instruments to manage financial risks. The Responsible Entity regularly reviews the Group’s exposures and updates its treasury policies and procedures. The Group does not trade in interest rate related derivative instruments for speculative purposes. The Group uses derivative contracts as part of its financial and business strategy. Interest rate derivative contracts are used to manage the risk of movements in variable interest rates on the Group’s Australian dollar denominated borrowings. Derivatives are measured at fair value with any changes in fair value recognised in the Consolidated Statement of Comprehensive Income as none of the derivative contracts have been identified as hedging instruments 54 Dexus Convenience Retail REIT 2026 Annual Report
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Note 9 Capital and financial risk management continued c. Derivative financial instruments (continued) 2026 2025 $'000 $'000 Current assets Interest rate derivative contracts 1,469 1,563 Total current assets - derivative financial instruments 1,469 1,563 Non-current assets Interest rate derivative contracts 1,062 626 Total non-current assets - derivative financial instruments 1,062 626 Current liabilities Interest rate derivative contracts — (196) Total current liabilities - derivative financial instruments — (196) Non-current liabilities Interest rate derivative contracts (481) (1,017) Total non-current liabilities - derivative financial instruments (481) (1,017) Net derivative financial instruments 2,050 976 The table below details a breakdown of the net fair value gain/(loss) on derivatives in the Consolidated Statement of Comprehensive Income. 2026 2025 $'000 $'000 Net fair value gain/(loss) of derivatives Interest rate derivative contracts 1,074 (6,836) Total net fair value gain/(loss) of derivatives 1,074 (6,836) Note 10 Interest bearing liabilities Borrowings are initially recognised at fair value net of transaction costs and subsequently measured at amortised cost using the effective interest rate method. Under the effective interest rate method, any transaction fees, costs, discounts and premiums directly related to the borrowings are capitalised to borrowings and amortised in the Consolidated Statement of Comprehensive Income over the expected life of the borrowings. If there is a substantial debt modification, the financial liability is derecognised from the Consolidated Statement of Financial Position and residual capitalised costs expensed to the Consolidated Statement of Comprehensive Income. If there is a non- substantial debt modification, the balance on the Consolidated Statement of Financial Position is adjusted and the difference between the present value of the new facility and carrying value of the original facility is recognised in the Consolidated Statement of Comprehensive Income. All borrowings where the Group has a right to defer settlement for at least 12 months after the reporting date are classified as non- current liabilities. The following table summarises the Group's financing arrangements: 2026 2025 $'000 $'000 Non-current Secured Bank loans (net of debt modification) 241,121 216,654 Capitalised borrowing costs (992) (1,147) Total secured 240,129 215,507 Total non-current liabilities - interest bearing liabilities 240,129 215,507 Financing arrangements The Group has the following revolving credit facilities with four banks. 2026 2025 $'000 $'000 Loan facility limit 281,250 266,250 Amount drawn at balance date (241,650) (217,650) Amount undrawn at balance date 39,600 48,600 FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 55
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Capital and financial risk management continued Note 10 Interest bearing liabilities continued As at 30 June 2026, the following table summarises the maturity profile of the Group’s financing arrangements: Maturity date Facility limit $'000 Jul-27 to Jun-28 17,500 Jul-28 to Jun-29 61,250 Jul-29 to Jun-30 112,500 Jul-30 to Jun-31 60,000 Jul-31 to Jun-32 30,000 Total 281,250 The revolving cash advance facilities are secured and cross collateralised over DXC's investment properties (by first registered real property mortgages) and other assets (via a first ranking general “all assets” security agreement), maturing between April 2028 and April 2032 with a weighted average maturity of May 2030. The debt facilities contain both financial and non-financial covenants and undertakings that are customary for secured debt facilities of this nature. The key financial covenants that apply to the Group are as follows: 2026 2025 Loan to Value Ratio ("LVR") At all times, LVR does not exceed 50% 31.5 % 30.1 % Interest Cover Ratio ("ICR") As at 31 December and 30 June each year, ICR is not less than 2.0 times 3.6 times 3.9 times Note 11 Commitments and contingencies a. Commitments Capital commitments Under some of the lease agreements applicable to the existing investment properties, the Group is responsible for capital and structural repairs to the premises (except to the extent required due to the tenant’s act, omissions or particular use). This contractual obligation can include the requirement to replace underground tanks and/or LPG tanks if they become worn out, obsolete, inoperable, or incapable of economic repair. As at the reporting date, there were no requirements to replace underground tanks at any sites (30 June 2025: nil). The following amounts represent capital expenditure commitments at the end of each reporting period but not recognised as liabilities payable: 2026 2025 $'000 $'000 Investment properties 35,483 19,646 Total capital commitments 35,483 19,646 At 30 June 2026, Capital commitments includes two fund-through development acquisitions at Mayfield, NSW and Bulahdelah, NSW, with a combined project cost of circa $35.0 million. These acquisitions are subject to conditions precedent, including finalisation of lease agreements, with settlement expected in the 2027 financial year. Lease receivable commitments The future minimum lease payments receivable by the Group are: 2026 2025 $'000 $'000 Within one year 45,730 44,128 Later than one year but not later than five years 182,373 179,171 Later than five years 157,405 168,722 Total lease receivable commitments 385,508 392,021 b. Contingencies Outgoings are excluded from contingencies as they are expensed when incurred. The Directors of the Responsible Entity are not aware of any other contingent liabilities in relation to the Group, other than those disclosed in the Notes to the Consolidated Financial Statements, which should be brought to the attention of security holders as at the date of these Consolidated Financial Statements. 56 Dexus Convenience Retail REIT 2026 Annual Report
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Note 12 Contributed equity 2026 2025 No. of securities No. of securities Opening balance 137,756,563 137,756,563 Buy-back of contributed equity (2,082,164) — Closing balance 135,674,399 137,756,563 On 9 March 2026, DXC announced plans to initiate an on-market securities buy-back of up to 2.5% of DXC stapled securities on issue until 27 January 2027. Subsequently, on 19 June 2026, the buy-back program was increased to 5.0% of stapled securities. During the 12 months to 30 June 2026, DXC acquired and cancelled 2,082,164 stapled securities (2025: nil) representing 1.5% of DXC stapled securities on issue (2025: 0.00%). Each stapled security ranks equally with all other stapled securities for the purposes of distributions and on termination of the Group. Each stapled security entitles the holder to vote in accordance with the provisions of the Constitutions and the Corporations Act 2001. Transaction costs arising on the issuance and buy-back of equity instruments are recognised directly in equity (net of tax). Transaction costs are the costs that are incurred directly in connection with the issue and buy-back of those equity instruments and which would not have been incurred had those instruments not been issued or bought back. Note 13 Working capital a. Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with financial institutions and other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. b. Receivables Rental income is brought to account on an accrual basis. Trade and other receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest rate method, less a provision for expected credit losses. Trade receivables are required to be settled within 30 days and are assessed on an ongoing basis for impairment. Receivables which are known to be uncollectable are written off by reducing the carrying amount directly. A provision for expected credit losses is recognised on trade receivables. The provision for expected credit losses is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. Cash flows relating to short-term receivables are not discounted as the effect of discounting is immaterial. The calculation of expected credit losses relating to rent and other receivables requires judgement to assess the future uncertainty of tenants’ ability to pay their debts. Expected credit losses have been estimated using a provision matrix that has been developed with reference to the Group’s historical credit loss experience, general economic conditions and forecasts, assumptions around rent relief that may be provided to tenants and tenant risk factors such as size, industry exposure and the Group’s understanding of the ability of tenants to pay their debts. Accordingly, expected credit losses include both the part of the rent receivable that is likely to be waived and any additional amount relating to credit risk associated with the financial condition of the tenant. For any provisions for expected credit losses, the corresponding expense has been recorded in the Consolidated Statement of Comprehensive Income within property expenses. 2026 2025 $'000 $'000 Rent receivable1 898 443 Less: provision for expected credit losses (268) (183) Total rent receivables 630 260 Other receivables 1,756 926 Total other receivables 1,756 926 Total receivables 2,386 1,186 1 Rent receivable includes outgoings recoveries. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 57
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Capital and financial risk management continued The provision for expected credit losses for rent receivables (which includes outgoings recoveries) as at the end of each reporting period was determined as follows: 2026 2025 Days outstanding $'000 $'000 0-30 days 77 9 31-60 days 6 4 61-90 days 12 5 91+ days 173 165 Total provision for expected credit loss 268 183 The provision for expected credit losses for rent receivables as at the reporting date reconciles to the opening loss allowances as follows: Expected credit losses 2026 2025 $'000 $'000 Opening balance 183 256 Provision raised / (reversed) in profit or loss during the year 85 (73) Closing balance 268 183 During the year, no rent receivables were written off (2025: $143,000) and expensed in the Consolidated Statement of Comprehensive Income. c. Other current assets 2026 2025 $'000 $'000 Other1 2,175 2,111 Prepayments 86 73 Total other current assets 2,261 2,184 1 Other current assets includes $2,175,000 (2025: $2,111,000) of land tax. Refer to note 13(e)) for details. d. Payables 2026 2025 $'000 $'000 Trade payables 115 581 Prepaid income 1,240 1,282 Accrued interest 1,925 582 Accrued capital expenditure 6,469 1,797 Accrued other expenses 4,092 3,307 Total payables 13,841 7,549 e. Provisions A provision is recognised when a present obligation exists as a result of a past event, and it is probable that a future outflow of cash or other benefit will be required to settle the obligation. In accordance with the Trust Constitutions, the Group distributes its distributable income to security holders by cash or reinvestment. Distributions are provided for when they are approved by the Board of Directors and declared. A provision for land tax has been recognised in accordance with the requirements of AASB Interpretation 21 Levies which requires a provision to be recognised for land tax obligations on properties owned in Queensland, Western Australia and South Australia that are due during the following period. 2026 2025 $'000 $'000 Provision for distribution 7,088 7,214 Provision for land tax 2,175 2,111 Total provisions 9,263 9,325 58 Dexus Convenience Retail REIT 2026 Annual Report
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Movements in material provisions during the financial year are set out below: 2026 2025 $'000 $'000 Provision for distribution Opening balance at the beginning of the year 7,214 7,349 Additional provisions 28,668 28,447 Payments (28,794) (28,582) Closing balance at the end of the year 7,088 7,214 A provision for distribution has been raised for the year ended 30 June 2026. This distribution is to be paid on 20 August 2026. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 59
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Other disclosures In this section This section includes other information that must be disclosed to comply with the Accounting Standards, the Corporations Act 2001 or the Corporations Regulations. Note 14 Audit, taxation and transaction service fees During the year, the Auditor and its related practices earned the following remuneration: 2026 2025 $ $ Audit and review services Auditors of the Group - KPMG Financial statement audit and review services 58,675 57,300 Audit and review fees paid to KPMG 58,675 57,300 Assurance services Auditors of the Group - KPMG Outgoings audits 51,136 44,118 Compliance assurance services 21,987 15,750 Assurance fees paid to KPMG 73,123 59,868 Total audit, review and assurance fees paid to KPMG 131,798 117,168 Note 15 Cash flow information a. Reconciliation of cash flows from operating activities Reconciliation of net profit for the year to net cash flows from operating activities. 2026 2025 $'000 $'000 Net profit for the year 56,402 39,374 Straight line lease revenue recognition (1,389) (2,872) Provision/(reversal) of impairment of rental receivables 85 (73) Amortisation of borrowing costs 397 440 Debt modifications 466 1,215 Movement in lease incentives 268 (86) Net fair value (gain)/loss of derivatives (1,074) 6,836 Net fair value (gain)/loss of investment properties (27,356) (16,648) Change in operating assets and liabilities 884 (1,097) Net cash inflow from operating activities 28,683 27,089 b. Net debt reconciliation 2026 2025 $'000 $'000 Opening balance 215,507 243,204 Changes from financing cash flows: Proceeds from borrowings 61,500 132,500 Repayment of borrowings (37,500) (161,500) Debt modifications 466 1,215 Additional capitalised borrowing costs paid (241) (352) Non-cash changes: Amortisation of deferred borrowing costs 397 440 Closing balance 240,129 215,507 60 Dexus Convenience Retail REIT 2026 Annual Report
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Note 16 Related parties Transactions with key management personnel The Group does not employ personnel in its own right. However, it is required to have a Responsible Entity to manage the activities of the Group. As such there are no staff costs (including fees paid to Directors of the Responsible Entity) included in the Consolidated Statement of Comprehensive Income. Transactions with the Responsible Entity and related body corporate The Responsible Entity of the stapled entities that form DXC is DXAM. Dexus PG Limited (DXPG) (ACN 109 846 068), the immediate parent entity of DXAM, and its controlled entities are wholly owned subsidiaries of Dexus Operations Trust (ARSN 110 521 223). Convenience Retail Management Pty Limited (CRM) is the appointed Investment Manager (the "Manager") to provide investment management services. The Manager is a related body corporate of DXAM and a wholly owned subsidiary of DXPG. Accordingly, transactions with entities related to DXPG are disclosed below: 2026 2025 Paid Payable Paid Payable $'000 $'000 $'000 $'000 Management fees1 4,390 406 4,265 377 Property management and leasing fees2 — 970 — 969 Custody fees3 138 13 135 12 Total 4,528 1,389 4,400 1,358 1 CRM is entitled to a base management fee of 0.65% per annum of the Gross Asset Value of the Group (reducing to 0.60% p.a. of Gross Asset Value between $0.5 billion and $1.0 billion, 0.55% p.a. of Gross Asset Value between $1.0 billion and $1.5 billion and 0.50% of Gross Asset Value in excess of $1.5 billion). Management fees are allocated to the entities comprising DXC on a fair and reasonable basis and in accordance with each entity's Constitution. 2 DXAM is party to a property management agreement with Dexus Property Services Pty Ltd a wholly owned subsidiary of Dexus. Under this agreement, Dexus Property Services Pty Limited is entitled to an average property management fee of approximately 2.0% of gross income, which may change over time, depending on the portfolio composition and management intensity of the assets. 3 DXAM is the Custodian of the Group. Security holdings and associated transactions with related parties The below table shows the number of DXC securities held by related parties (including other managed investment schemes for which DXAM is the Responsible Entity or Investment Manager) and the distributions paid, or payable: 2026 2025 Number of securities Distributions Number of securities Distributions $ $ Dexus Asset Management Limited 2,402,816 502,189 2,402,816 496,182 APD Trust 10,011,224 2,092,346 10,011,224 2,067,318 Dexus AREIT Fund 3,808,897 796,059 4,126,897 908,672 CFS Dexus AREIT Mandate — 12,563 98,812 21,432 Jennifer Horrigan 33,500 7,002 33,500 6,918 Danielle Carter 8,946 1,870 8,946 1,847 Jonathan Sweeney 55,500 7,890 20,000 4,130 Total 16,320,883 3,419,918 16,702,195 3,506,499 As at 30 June 2026, 12.03 % (30 June 2025: 12.12%) of DXC’s stapled securities were held by related parties. Note 17 Controlled entities The entities within the Group are consolidated for financial reporting purposes. Convenience Retail REIT No. 2 is the parent entity and deemed acquirer of Convenience Retail REIT No. 1 and Convenience Retail REIT No. 3. Convenience Retail REIT No. 1 and Convenience Retail REIT No. 3 were acquired through a stapling arrangement, and therefore no ownership has been obtained. The financial results and financial position attributable to these entities are disclosed as non-controlling interests in the Consolidated Financial Statements. FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 61
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Other disclosures continued Note 18 Parent entity disclosures The financial information for the parent entity of Convenience Retail REIT No. 2 has been prepared on the same basis as the Consolidated Financial Statements. Summary of financial information The individual Financial Statements for the parent entity show the following aggregate amounts: 2026 2025 $'000 $'000 Total current assets 158,298 147,197 Total assets 453,072 432,901 Total current liabilities 5,333 11,936 Total liabilities 226,102 213,154 Equity Contributed equity 188,079 190,507 Retained profits 38,891 29,240 Total equity 226,970 219,747 Net profit for the year 16,720 10,858 Total comprehensive income for the year 16,720 10,858 b. Guarantees entered into by the parent entity At 30 June 2026, the parent entity had not provided guarantees (2025: nil). c. Contingent liabilities At 30 June 2026, the parent entity had no contingent liabilities (2025: nil). d. Capital commitments The following amounts represent capital expenditure of the parent entity contracted at the end of the reporting period but not recognised as liabilities payable: 2026 2025 $'000 $'000 Investment properties 35,364 166 Total capital commitments 35,364 166 Note 19 Subsequent events On 20 July 2026, the disposal of 1 Wishart Street, Gwelup WA was settled in line with its book value at 30 June 2026. The Directors are not aware of any other matter or circumstance not otherwise dealt with in the Consolidated Financial Statements that has significantly or may significantly affect the operations of the Group, the results of those operations, or state of the Group’s affairs in future financial periods. 62 Dexus Convenience Retail REIT 2026 Annual Report
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Directors’ Declaration The Directors of Dexus Asset Management Limited as Responsible Entity of Dexus Convenience Retail REIT declare that the Consolidated Financial Statements and Notes set out on pages 38 to 62: i. Comply with Australian Accounting Standards, the Corporations Regulations 2001 and other mandatory professional reporting requirements; and ii. Give a true and fair view of the Group’s consolidated financial position as at 30 June 2026 and of its performance, as represented by the results of its operations and cash flows, for the year ended on that date. In the Directors’ opinion: a. The Consolidated Financial Statements and Notes are in accordance with the Corporations Act 2001; b. There are reasonable grounds to believe that Convenience Retail REIT No. 2 will be able to pay its debts as and when they become due and payable. c. The entities within the Group have operated in accordance with the provisions of their Constitutions (as amended) during the year ended 30 June 2026. The Consolidated Financial Statements also comply with International Financial Reporting Standards as issued by the International Accounting Standards Board. The Directors have been given the declarations by the Fund Manager, who performs the Chief Executive Officer function, and the General Manager - Funds Finance, who performs the Chief Financial Officer function, required by section 295A of the Corporations Act 2001. This declaration is made in accordance with a resolution of the Directors. Jennifer Horrigan Chair 10 August 2026 FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 63
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Independent Auditor’s Review Report 64 Dexus Convenience Retail REIT 2026 Annual Report KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation. Independent Auditor’s Report To the stapled security holders of Dexus Convenience Retail REIT Opinion We have audited the Financial Report of Dexus Convenience Retail REIT (the Stapled Group Financial Report). In our opinion, the accompanying Stapled Group Financial Report gives a true and fair view, including of the Stapled Group’s financial position as at 30 June 2026 and of its financial performance for the year then ended, in accordance with the Corporations Act 2001, in compliance with Australian Accounting Standards and the Corporations Regulations 2001. The Financial Report of the Stapled Group comprises: • Consolidated Statement of Financial Position as at 30 June 2026 • Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Equity, and Consolidated Statement of Cash Flows for the year then ended • Notes, including material accounting policies • Directors’ Declaration The Stapled Group consists of: • Convenience Retail REIT No.1, • Convenience Retail REIT No.2, and • Convenience Retail REIT No.3. Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the Financial Report section of our report. We are independent of the Stapled Group, Convenience Retail REIT No.2 and Dexus Asset Management Limited (the Responsible Entity) in accordance with the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the Financial Report in Australia. We have fulfilled our other ethical responsibilities in accordance with these requirements.
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Independent Auditor’s Review Report FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 65 Key Audit Matters Key Audit Matters are those matters that, in our professional judgement, were of most significance in our audit of the Financial Report of the current period. This matter was addressed in the context of our audit of the Financial Report as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on this matter. Valuation of investment properties ($770,919,000) Refer to Note 7 to the Financial Report The key audit matter How the matter was addressed in our audit The Stapled Group’s policy is that property assets are held at fair value, determined using internal methodologies or through the use of external valuation experts. The valuation of property assets is a key audit matter as they are significant in value (being 98% of total assets) to the Stapled Group’s Financial Statements and contain assumptions with estimation uncertainty. This leads to additional audit effort due to differing assumptions used by the Stapled Group based on asset classes, geographies and characteristics of individual property assets. We focused on significant assumptions used in the Stapled Group’s valuation of property assets including: • capitalisation rates; and • market rental income. In assessing this Key Audit Matter, we involved our real estate valuation specialists, who understand the Stapled Group’s investment profile, business and the economic environment it operates in. Our procedures included: • We obtained an understanding of the Stapled Group’s process regarding the valuation of investment properties. • Assessed the appropriateness of the Stapled Group’s accounting policies and methodologies used in the valuations of investment properties, against the requirements of the accounting standards and our understanding of the business and industry practice. • Working with real estate valuation specialists, we read published reports and industry commentary to gain an understanding of prevailing property market conditions; • Assessed the scope, competence and objectivity of external valuers engaged by the Stapled Group and internal valuers; • For a sample of investment properties, taking into account asset classes, geographies and characteristics of individual investment properties: o Challenged significant assumptions, with reference to published industry reports and commentary of prevailing property market conditions. o With the assistance of our real estate valuation specialists, assessed the significant assumptions including capitalisation rates and market rental income. We did this by comparing to market analysis published by industry
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Independent Auditor’s Review Report 66 Dexus Convenience Retail REIT 2026 Annual Report experts, recent market transactions, inquiries with the Stapled Group, historical performance of the assets, our knowledge of the property portfolio and using our industry experience. o We also tested, on a sample basis, other key inputs to the investment property valuations such as rent and lease terms, for consistency to existing lease contracts; • Assessing the disclosures in the financial report using our understanding obtained from our testing, against accounting standard requirements. Other Information Other Information is financial and non-financial information in Dexus Convenience Retail REIT’s annual report which is provided in addition to the Financial Report and the Auditor’s Report. The Directors of Dexus Asset Management Limited, the Responsible Entity of Convenience REIT No.2, the deemed parent entity for the Dexus Convenience Retail REIT Stapled Group are responsible for the Other Information. Our opinion on the Financial Report does not cover the Other Information and, accordingly, we do not and will not express an audit opinion or any form of assurance conclusion thereon. In connection with our audit of the Financial Report, our responsibility is to read the Other Information. In doing so, we consider whether the Other Information is materially inconsistent with the Financial Report or our knowledge obtained in the audit or otherwise appears to be materially misstated. We are required to report if we conclude that there is a material misstatement of this Other Information and based on the work we have performed on the Other Information that we obtained prior to the date of this Auditor’s Report we have nothing to report. Responsibilities of the Directors for the Financial Report The Directors of Dexus Asset Management Limited, the Responsible Entity of Convenience Retail REIT No.2, the deemed parent entity for the Dexus Convenience Retail REIT Stapled Group are responsible for: • preparing the Financial Report in accordance with the Corporations Act 2001, including giving a true and fair view of the financial position and performance of the Stapled Group, and in compliance with Australian Accounting Standards and the Corporations Regulations 2001, • implementing necessary internal control to enable the preparation of a Financial Report in accordance with the Corporations Act 2001, including giving a true and fair view of the financial position and performance of the Stapled Group, and that is free from material misstatement, whether due to fraud or error,
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Independent Auditor’s Review Report FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 67 • assessing the Stapled Group’s ability to continue as a going concern and whether the use of the going concern basis of accounting is appropriate. This includes disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless they either intend to liquidate the Stapled Group or to cease operation or have no realistic alternative but to do so. Auditor’s responsibilities for the audit of the Financial Report Our objective is: • to obtain reasonable assurance about whether the Financial Report as a whole is free from material misstatement, whether due to fraud or error; and • to issue an Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error. They are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Financial Report. A further description of our responsibilities for the audit of the Financial Report is located at the Auditing and Assurance Standards Board website at: https://www.auasb.gov.au/media/bwvjcgre/ar1_2024.pdf This description forms part of our Auditor’s Report. KPMG Cameron Slapp Partner Sydney 10 August 2026
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Investor information Dexus Convenience Retail REIT recognises the importance of effective communication and remains committed to providing transparent and timely communications with existing and potential institutional investors, sell-side analysts, financial adviser groups and retail investors. 68 Dexus Convenience Retail REIT 2026 Annual Report Cnr Weakleys & Glenwood Drives, Thornton, NSW
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Our Executives and Investor Relations team maintain a strong rapport with the investment community through proactive and regular engagement initiatives. Focus on transparency and sustainability We are committed to high standards of transparency, ensuring investors receive accurate and timely information to support informed decision-making. We understand the importance of sustainability for long-term value creation, and we continue to: – Integrate sustainability topics into investor communications – Provide detailed disclosures on sustainability performance – Offer access to senior management for investment and sustainability-related discussions We adopt strong governance practices for investor engagement, including: – A minimum of two Dexus representatives participate in any institutional investor or sell-side broker meetings – Maintaining records of meetings in our internal customer relationship management database DXC’s Security Registrar Our security registrar MUFG Corporate Markets (AU) Limited is located at: Liberty Place Level 41, 161 Castlereagh Street Sydney, NSW, 2000 Phone +61 1800 819 675 Email dexus@cm.mpms.mufg.com Website au.investorcentre.mpms.mufg.com Distribution payments Distributions are paid quarterly for the three-month periods to 30 September, 31 December, 31 March and 30 June each year. Distribution statements are available in print and electronic formats and distributions are paid only by direct credit into nominated bank accounts for all Australian Security holders and by cheque for other international Security holders. To update the method of receiving distributions, please visit the investor login facility at www.dexus.com/dxc . AMMA Statement An Attribution Managed Investment Trust Member Annual Statement (AMMA) is sent to investors in August each year. The statement summarises distributions provided during the financial year and includes information required to complete your tax return. AMMA statements are also available online at www.dexus.com/dxc . Unclaimed distribution income Unpresented cheques or unclaimed distribution income can be claimed by contacting the DXC Infoline on +61 1800 819 675. For monies outstanding greater than seven years, please contact the NSW Office of State Revenue on 1300 366 016, 8.30am–5.00pm Monday to Friday or use their search facility available at www.revenue.nsw. gov.au/ unclaimed-money or email unclaimedmoney@revenue.nsw.gov.a u Investor communications We are committed to ensuring all investors have equal access to information. In line with our commitment to long term integration of sustainable business practices, investor communications are provided via various electronic methods including: DXC’s investor centre www.dexus.com/dxc Online enquiry Click the enquire about investing button. Subscribe to alerts Click the ASX announcement tab to subscribe to receive our ASX announcements as they are released. Events & key dates Click the events & key dates tab to view upcoming dates. Investor login www.dexus.com/update Login to update your details and download statements. LinkedIn Dexus engages with its followers on LinkedIn, providing updates on activities across the Platform. Go electronic for convenience and speed Did you know that you can receive all or part of your Security holder communications electronically? You can change your communication preferences at any time by logging into your Security holding at www.dexus.com/update or by contacting MUFG on +61 1800 819 675 or email at dexus@cm.mpms.mufg.com . FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 69
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Investor communications continued Complaint management process Dexus Asset Management Limited has a complaint management policy to ensure all Security holders are dealt with fairly, promptly and consistently. A Complaints Guide is available at www.dexus.com/complaints-management Any Security holder wishing to lodge a complaint can do so verbally by calling DXC’s Infoline on +61 1800 819 675 or by email to dexus@cm.mpms.mufg.com . Should you wish to contact us directly please use the details below: Complaints Officer Dexus Asset Management Limited PO Box R1822 Royal Exchange NSW 1225 Phone +612 9017 1100 Email complaints@dexus.com Dexus Asset Management Limited is a member of the Australian Financial Complaints Authority (AFCA), an independent dispute resolution scheme which may be contacted at: Australian Financial Complaints Authority Limited GPO Box 3 Melbourne VIC 3001 Phone +61 1800 931 678 (free call within Australia) Fax +61 3 9613 6399 Email info@afca.org.au Website www.afca.org.au Dispute Resolutions Officer Dexus PO Box R1822 Royal Exchange NSW 1225 Email complaints@dexus.com Key upcoming dates Reporting calendar1 2027 Half year results 8 February 2027 2027 Annual results 9 August 2027 Distribution calendar1 Period end 30 September 2026 31 December 2026 31 March 2027 30 June 2027 Ex-distribution date 29 September 2026 30 December 2026 30 March 2027 29 June 2027 Record date 30 September 2026 31 December 2026 31 March 2027 30 June 2027 Payment date November 2026 February 2027 May 2027 August 2027 Get in touch If you have any questions regarding your Security holding or wish to update your personal or distribution payment details, please contact DXC’s Infoline on +61 1800 819 675 or email at dexus@cm.mpms.mufg. com This service is available from 8.30am to 5.30pm (Sydney time) on all business days. All correspondence should be addressed to: Dexus Convenience Retail REIT C/- MUFG Corporate Markets (AU) Limited Locked Bag A14 Sydney South NSW 1235 We are committed to delivering a high level of service to all investors. If you feel we could improve our service or you would like to make a suggestion, your feedback is appreciated. Our contact details are: Investor Relations Dexus Convenience Retail REIT PO Box R1822 Royal Exchange NSW 1225 Email ir@dexus.com 1 These dates are indicative and are subject to change without prior notice. Any changes in our key dates will be published on our website at www.dexus.com/dxc. 70 Dexus Convenience Retail REIT 2026 Annual Report
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Additional information Top 20 Security holders as at 31 July 2026 Rank Name No. of stapled securities % of issued capital 1 HSBC Custody Nominees (Australia) Limited 12,943,828 9.54 2 Citicorp Nominees Pty Limited 11,591,292 8.54 3 BNP Paribas Noms Pty Ltd 10,122,945 7.46 4 Perpetual Corporate Trust Ltd <APD A/C> 10,011,224 7.38 5 BNP Paribas Nominees Pty Ltd <HUB24 Custodial Serv Ltd> 5,524,541 4.07 6 J P Morgan Nominees Australia Pty Limited 4,637,422 3.42 7 Palm Beach Nominees Pty Limited 3,257,456 2.40 8 SCJ Pty Limited <Jermyn Family A/C> 2,700,000 1.99 9 Dexus Asset Management Ltd 2,402,816 1.77 10 Netwealth Investments Limited <Wrap Services A/C> 1,426,672 1.05 11 BNP Paribas Noms (NZ) Ltd 766,294 0.56 12 Certane CT Pty Ltd <A-REIT FUND A/C> 693,079 0.51 13 Geat Incorporated <Geat-Preservation Fund A/C> 690,173 0.51 14 Lauren Investments Pty Ltd <The Aylward Super Fund A/C> 600,000 0.44 15 Estate Management Pty Ltd 578,513 0.43 16 Warbont Nominees Pty Ltd 566,866 0.42 17 Mr Michael Kenneth Hansen & Mrs Alison Betty Hansen <Makah A/C> 509,475 0.38 18 Citicorp Nominees Pty Ltd 501,325 0.37 19 Farcrest Holdings Pty Ltd 486,172 0.36 20 BNP Paribas Nominees Pty Ltd <IB AU Noms Retail client> 461,057 0.34 Total Top 20 70,471,150 51.94 Balance of register 65,203,249 48.06 Total issued capital 135,674,399 100.00 Spread of securities at 31 July 2026 Range Securities No. of holders % 100,001 and over 84,754,530 96 62.47 10,001 to 100,000 38,712,107 1,562 28.53 5,001 to 10,000 8,446,813 1,108 6.23 1,001 to 5,000 3,470,054 1,128 2.56 1 to 1,000 290,895 709 0.21 Total 135,674,399 4,603 100.00 Unmarketable parcels 13,955 205 0.01 Substantial Holder Notices as at 31 July 2026 The names of substantial holders at 31 July 2026 that have notified the Responsible Entity in accordance with section 671B of the Corporations Act 2001, are: Date Name Number of securities % voting 26-Aug-25 Dexus Nominees Pty Limited and Dexus Funds Management Ltd as responsible entity for Dexus Diversified Trust 16,303,749 11.84 FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 71
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Additional information continued On-market buy-back Dexus Convenience Retail REIT's on-market buy-back program has been extended annually since 2022, most recently on 28 January 2026 for a further 12 months. On 9 March 2026, DXC commenced the buy-back with an initial target of 2.5% of securities. Subsequently, on 19 June 2026, the buy-back program was increased to 5.0% of securities. Throughout the period to 31 July 2026, DXC acquired 2,082,164 securities for $5.6 million at an average price of $2.67. As at the date of this report the buy-back program remains open. Cost base apportionment For capital gains tax purposes, the cost base apportionment details for DXC’s securities for the 12 months ended 30 June 2026 are: Convenience Retail REIT Convenience Retail REIT Convenience Retail REIT Date No. 1 No. 2 No. 3 1 Jul 2025 to 31 Dec 2025 29.87 % 43.57 % 26.56 % 1 Jan 2026 to 30 Jun 2026 30.40 % 43.31 % 26.29 % For information on calculation methodology and historical tax cost base apportionment, details are available at www.dexus.com/dxc. Class of securities DXC has one class of stapled security trading on the ASX with Security holders holding stapled securities at 31 July 2026. Voting rights At meetings of the Security holders of Convenience Retail REIT No. 1, Convenience Retail REIT No. 2 and Convenience Retail REIT No. 3, together being the trusts that comprise the stapled group Dexus Convenience Retail REIT, on a poll each Security holder has one vote for each Security held. There are no stapled securities that are restricted or subject to voluntary escrow. 72 Dexus Convenience Retail REIT 2026 Annual Report
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Directory Dexus Convenience Retail REIT Convenience Retail REIT No. 1 ARSN 101 227 614 Convenience Retail REIT No. 2 ARSN 619 527 829 Convenience Retail REIT No. 3 ARSN 619 527 856 Responsible Entity Dexus Asset Management Limited ACN 080 674 479 AFSL No: 237500 Directors of the Responsible Entity Jennifer Horrigan, Independent Chair Emily Smith, Independent Director Danielle Carter, Independent Director Jonathan Sweeney, Independent Director Michael Sheffield, Executive Director Brett Cameron, Alternate Director for Michael Sheffield Secretaries of the Responsible Entity Brett Cameron Scott Mahony Manager Convenience Retail Management Pty Ltd Registered Office Level 30, 50 Bridge Street Sydney NSW 2000 Phone +61 2 9017 1100 Email ir@dexus.com Website www.dexus.com Auditors KPMG Australia Chartered Accountants Level 38, Tower Three 300 Barangaroo Avenue Sydney NSW 2000 Investor Enquiries Registry Infoline +61 1800 819 675 Investor Relations +612 9017 1330 Email dexus@cm.mpms.mufg.com Security Registry MUFG Corporate Markets (AU) Limited Level 41, Liberty Place 161 Castlereagh Street Sydney, NSW, 2000 Locked Bag A14 Sydney South NSW 1235 Phone +61 1800 819 675 Email dexus@cm.mpms.mufg.com Website au.investorcentre.mpms.mufg.com Open Monday to Friday between 8.30am and 5.30pm (Sydney time). For enquiries regarding security holdings, contact the security registry, or access security holding details at www.dexus.com/update Australian Securities Exchange Dexus Convenience Retail REIT stapled securities are listed on the Australian Securities Exchange (ASX: DXC) Social media Dexus engages with its followers via LinkedIn Information in this report is current as at the date of publication (unless specified otherwise). This report has been prepared without taking account of any particular reader’s financial situation, objectives or needs and does not constitute investment, legal, tax or other advice. Any investment is subject to investment risk, including possible delays in repayment and loss of income and principal invested, and there is no guarantee on the performance of the fund or the return of any capital. Accordingly, readers should seek independent legal, tax and financial advice before making any investment decision. This material is for general information purposes only and does not constitute financial product advice, offer, invitation, solicitation or recommendation with respect to any investment. No warranty or representation is provided as to the accuracy, completeness or reliability of any information, and to the fullest extent permitted by law, the recipient releases Dexus (ASX:DXS) and its affiliates from any and all liabilities and losses arising in connection with any person acting on or relying on anything contained in or omitted from this report (whether due to negligence or otherwise). FY26 highlights About DXC Fund Manager’s letter Sustainability overview Governance Financial Report Investor information 73