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1Q27 Operational update 19 October 2026 For People. For Community. For Something Better.
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Proven business model and clear sector focus All values as at 30 June 2026. 1. Forecast end value on completion, subject to relevant approvals. 2. Subject to approvals and planning. 3. Subject to final design, documentation and customer negotiations. 1Q27 Operational Update 2 End-to-end development expertise and investment management capabilities in targeted sectors INVESTMENTS LAND LEASE Australia’s leading Land Lease platform with 10,7932 existing and future homes RESIDENTIAL FOR SALE Australia’s leading residential platform DATA CENTRES Scale opportunity in partnership with EdgeConneX – a leading global operator $8.0bn1 development pipeline with 6,901 home sites predominantly sourced from MPC platform $36.4bn1 development pipeline with 79,5842 lots with embedded pipeline of adjacent uses ~450MW3 power secured; four additional sites identified, sourced from existing Logistics pipeline $10.4bn platform weighted to high-quality logistics and essentials-based retail $16.3bn1 development pipeline delivering development profits, NTA upside and growth
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Investment portfolio1 and growth pipeline High-quality portfolio delivering consistent income growth Logistics: under-renting provides further reversionary upside • Leasing spreads2 on new leases and renewals remain strong at 17.6% • Portfolio is 8% under rented providing mark-to-market upside • Development completions and leasing activity have driven an increase in WALE Retail: resilient performance from essentials-based portfolio • Total comparable MAT growth of +3.5%; comparable MAT specialty sales growth of +4.3% • Comparable specialty sales of ~$11,300 per sqm, ~2% above the Urbis average • Leasing spreads6 of 7.9% reflects portfolio deals; expected to moderate during the year • Sustainable occupancy cost5 of 15.2%; Occupancy4 of 99% Workplace: progressing opportunities and maintaining optionality • Leasing spreads2 of 1.6% on new leases and renewals negotiated year to date • Portfolio occupancy7,9 of 84.2% and WALE7,9 of 6.3 years • Disposal of 60-66 Waterloo Road, Macquarie Park Development pipeline providing high-quality growth • $0.2bn of Logistics assets completed at Kemps Creek • $0.6bn3 of Logistics under construction along with $0.2bn3 of Retail projects 3 1. Excludes Land Lease. 2. Releasing spreads on new leases and renewals negotiated during the period. 3. Forecast end value on completion. 4. Occupancy across the stable portfolio based on signed leases and agreements at 30 September 2026. 5. Occupancy cost reflects stable assets, adjusted to reflect tenants trading more than 24 months. 6. Rental growth on stable portfolio on an annualised basis. 7. By income. 8. Excludes Cherry Lane, VIC. 9. Excludes Walker Street Complex and 601 Pacific Highway in NSW. $xx Total portfolio Comparable centres Retail sales by category MAT ($m) MAT growth MAT growth 1Q27 vs 1Q26 Total 5,253 5.5% 3.5% 4.2% Specialties 1,623 5.3% 4.3% 4.5% Supermarkets 1,790 8.0% 3.1% 4.0% DDS/DS 608 0.3% 0.3% 1.3% Mini majors 761 5.7% 5.4% 4.5% 1Q27 3 months ended 30 September 2026 1Q26 3 months ended 30 September 2025 Leases executed 121,199 sqm 66,244 sqm Leases under HOA 122,283 sqm 95,720 sqm As at 30 September 2026 As at 30 June 2026 Portfolio occupancy7,8 96.9% 97.5% Portfolio WALE7,8 3.9 years 3.7 years Retail portfolio Logistics portfolio 1Q27 Operational Update
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Residential for sale Masterplanned Communities • Net sales of 1,506 reflects: - Moderation of QLD demand; now slowing in line with national market - More balanced market conditions in WA; demand now matched by supply - Affordability constraints in NSW impacting sales - VIC market relatively stable at low levels • Reduced enquiry, partly offset by stronger conversion • 828 settlements in Q1, with 4,502 contracts on hand at average pricing above FY26 settlements • Cancellation and default rates1 remain below long-run average levels Apartments • Planning approval obtained for Victoria Parade, Collingwood, VIC • Progressing Waterloo Urban Renewal site; 3,300 apartments; ~50% residential for sale • Progressing Stanton Place, Rosebery, NSW: 144 apartments Interest rates and tax changes slowing market 4 MPC net sales by quarter 1. On a rolling 12-month basis. 1Q27 Operational Update MPC enquiries by quarter 234 210 263 299 221 214 203 276 453 428 365 329 231 365 433 386 493 312 502 557 719 677 753 767 560 578 221 328 332 352 484 363 565 603 809 680 793 833 627 171 210 261 219 104 171 184 250 178 463 239 214 70 991 1,181 1,242 1,363 1,121 1,250 1,509 1,848 2,117 2,324 2,164 1,936 1506 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 WA VIC QLD NSW/ACT 1,739 2,642 4,196 4,934 2,527 1,997 3,216 3,657 9,059 8,820 8,306 3,311 2082 4,466 4,854 7,672 6,885 7,647 5,005 5,267 7,315 7,206 7,418 5,727 6,015 3237 3,640 4,621 7,798 5,544 4,264 5,209 7,624 7,293 15,577 12,946 12,462 8,235 3727 3,100 3,023 4,474 3,741 2,086 1,582 3,234 2,713 4,709 3,484 3,004 2,622 1406 12,945 15,140 24,140 21,104 16,524 13,793 19,341 20,978 36,551 32,668 29,499 20,183 10,452 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27
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Land Lease Communities • Achieved 206 net sales, reflecting a lengthening of customer decision timeframes and softer established market conditions • Increased conversion partly offsetting lower enquiries • 774 contracts on hand at average pricing above FY26 settlements1 provides good visibility for FY27 • Actively trading from 17 communities - Halcyon Peninsula (VIC) and Halcyon Grevillea (WA) anticipated to launch during FY27 • Established portfolio now comprises 4,025 home sites, including 2,604 within capital partnerships • Portfolio occupancy remains at 100% Growing platform with strong contracts on hand 5 LLC net sales by quarter 1. FY26 average settlement price per home $832,000. LLC enquiries by quarter 1Q27 Operational Update - - 14 9 7 26 11 36 66 35 17 23 31 35 42 28 39 15 32 47 55 55 58 52 88 100 69 86 87 77 86 115 138 183 179 162 128 7 6 13 13 6 10 13 17 15 9 111 131 104 135 135 138 121 179 206 287 317 270 206 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 WA VIC QLD NSW 8 21 320 649 415 233 505 757 923 1,000 1,074 1,138 716 1,075 836 1,035 1,116 881 620 1,129 1,848 1,698 1,414 1,140 1,608 1,194 1,817 1,707 2,567 1,660 1,872 2,004 2,262 2,789 6,155 4,635 3,696 3,957 2,524 - 17 403 605 150 155 327 272 370 278 306 445 389 2,900 2,581 4,325 4,030 3,318 3,012 4,223 5,666 9,146 7,327 6,216 7,148 4,823 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27
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Data Centre platform Programmatic multi-year growth in well-located sites 6 Property/site SGP interest Current usage Power secured Target customer MPark Stage 2, NSW 100% Workplace land ~100MW Cloud/Co-location Cherry Lane, VIC 100% Logistics existing ~175MW AI/Hyperscaler Brooklyn, VIC 100% Logistics existing ~175MW AI/Hyperscaler Kemps Creek, NSW2 50% Logistics land App. lodged AI/Hyperscaler Wetherill Park, NSW2 100% Logistics existing Pre app. lodged AI/Hyperscaler Macquarie Park, NSW2 51% Workplace existing Planning AI/Hyperscaler Melbourne Business Park, VIC 50% Logistics land App. lodged AI/Hyperscaler 1. Subject to final design, documentation and customer negotiations. 2. Endorsed by NSW Government Investment Delivery Authority. 1Q27 Operational Update Identified data centre pipeline High-quality sites underpinning long-term platform • Pipeline sourced from within existing Logistics / Workplace portfolio • Predominantly located within established Logistics precincts • 450MW1 of power secured; progressing additional power applications and planning Multiple options to monetise value • Initial FFO contribution expected in FY27 from land transfers / sales • Additional contributions in future periods from further land transfers, development gains, fee income and NOI Clear funding and return pathways • Funding and capital allocation optionality • Staged, manageable funding requirements
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Guidance FY27 guidance • FY27 FFO per security guidance: - 38.0 – 39.0 cents • FY27 distribution per security expected: - 25.2 cents (in line with FY26) - Within payout ratio range of 60 – 80% of FFO FFO expected to be weighted to 2H given timing of Data Centre transactions and MPC settlements Residential volume targets unchanged • Targeting FY27 Masterplanned Communities (MPC) settlements of 7,300-8,300 lots and development operating profit margin of around 20% • Targeting FY27 Land Lease (LLC) settlements of 850-950 homes, with development operating profit margin of above 22% Gearing • Gearing expected to remain within the 20 – 30% target range for FY27 All forward-looking statements, including FY27 earnings guidance, remain subject to no material change in market conditions. FY27 guidance and targets maintained
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Important Notice This Presentation and its accompanying Annexures (“Presentation”) has been prepared and issued by Stockland Corporation Limited (ACN 000 181 733) and Stockland Trust Management Limited (ACN 001 900 741; AFSL 241190) as Responsible Entity for Stockland Trust (ARSN 092 897 348) (“Stockland”). Figures stated in this report are as at 30 September 2026 unless stated otherwise. Whilst every effort is made to provide accurate and complete information, Stockland does not warrant or represent that the information included in this Presentation is free from errors or omissions or that it is suitable for your intended use. Except as required by law, Stockland does not assume any obligation to update or revise this Presentation after the date of this Presentation. This Presentation contains forward looking statements, including statements regarding future earnings and distributions; expectations, commitments, targets, goals and objectives with respect to social value or sustainability; divestment, acquisition or integration of certain assets. The forward looking statements are based on information and assumptions available to us as of the date of this Presentation. Actual results, performance or achievements could be significantly different from those expressed in or implied by these forward looking statements. These forward looking statements are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results to differ materially from those expressed in or implied by the statements contained in this Presentation. Current market conditions remain uncertain. All forward looking statements, including FY27 earnings guidance, remain subject to no material change in market conditions. The information provided in this Presentation may not be suitable for your specific needs and should not be relied upon by you in substitution of you obtaining independent advice. To the maximum extent permitted by law, Stockland and its respective directors, officers, employees and agents accepts no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in this Presentation. All information in this Presentation is subject to change without notice. This Presentation does not constitute an offer or an invitation to acquire Stockland stapled securities or any other financial products in any jurisdictions, and is not a prospectus, product disclosure statements or other offering document under Australian law or any other law. It is for information purposes only. This announcement is authorised for release to the market by Ms Katherine Grace, Stockland’s Company Secretary. Stockland Corporation Limited ACN 000 181 733 Stockland Trust Management Limited ACN 001 900 741; AFSL 241190 As a responsible entity for Stockland Trust ARSN 092 897 348