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F Y 2 6 R E S UL T S
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C E O A d d r e s s AGENDA 3 Macquarie Park, NSW 7 1 3 2 W O T S O - J u n e 2 0 2 6 Financial Highlights Q & A 1 4 Appendix 1 7 Beyond Business
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CEO ADDRESS Whangārei, NZ 3 W O T S O - J u n e 2 0 2 6 CEO ADDRESS
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A COWORKING SPACE + VERTICALLY INTEGRATED PROPERTY GROUP 4 WE OWN 20 PROPERTIES $ 2 8 3 GROSS PROPERTY HOLDINGS WOTSO has property holdings valued at $283M providing us greater control over the locations in which we operate, long-term stability and capture both property value growth and operational income. 17 WHOLLY OWNED WE OPERATE 40 WOTSO LOCATIONS 19 WITHIN OUR PROPERTY PORTFOLIO We operate one of Australia and New Zealand’s largest network of flexible workspaces, with 40 locations open at 30 June 26, and 7 confirmed locations in the pipeline for FY27. Our model caters to individuals, start-ups, SMEs and large corporates through monthly flexible memberships. WE MANAGE 18 PROPERTIES 90% OF OUR PROPERTY PORTFOLIO We actively manage our property holdings in-house (excluding Pyrmont and Alerik). This integrated approach ensures alignment between property performance and business growth. W O T S O - J u n e 2 0 2 6 M
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W O T S O P O R T F O L I O W O T S O P O R T F O L I O 4 0 L O C A T I O N S 7 L O C A T I O N S I N P I P E L I N E 5 W O T S O - J u n e 2 0 2 6 B e l m o n t N Z 5 T a k a p u n a T e T ō a n g a r o a W h a n g ā r e i W e l l i n g t o n 5 M e l b o u r n e M a n d u r a h W A 1 A d e l a i d e S A 3 H o b a r t T A S 1 D i c k s o n A C T 3 S y m o n s t o n W o d e n T e a T r e e P l u s G r e g o r y H i l l s K o g a r a h B l a c k t o w n B o n d i J u n c t i o n B o t a n y B r o o k v a l e C r e m o r n e J a m i s o n t o w n N e w c a s t l e N S W 2 2 R o b i n a V a r s i t y L a k e s C h e r m s i d e F o r t i t u d e V a l l e y S u n s h i n e C o a s t T o o w o o m b a Q L D 7 V I C S o u t h M e l b o u r n e M u l g r a v e R h o d e s S y d n e y C B D Z e t l a n d P e n r i t h P y r m o n t N o r t h S y d n e y N o r t h H e a d N o r t h S t r a t h f i e l d M a c a r t h u r S q u a r e M a n l y B e a c h L i v e r p o o l M a c q u a r i e P a r k N o r w e s t M u r r a y B r i d g e B u n d a b e r g G e e l o n g D a n d e n o n g O p e n e d i n F Y 2 6 W O T S O l o c a t i o n i n o w n e d p r o p e r t y W O T S O l o c a t i o n i n c o - o w n e d p r o p e r t y W O T S O l o c a t i o n i n 3 r d p a r t y p r o p e r t y O p e n i n g F Y 2 7
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6 E - C O M M E R C E Only scratching the surface of what our e-commerce platform can deliver across the network Opportunity extends across day passes, meeting rooms, virtual offices, parking, and ancillary products More online transactions gives our members more choice on how they transact ~ 7 0 % Share of day pass sales purchased online up from ~30% pre April day pass campaign D E M A N D P R I C I N G Using network data to better match price with demand and utilisation Dynamic pricing for meeting rooms introduced in FY26 – discounts during quieter periods and premium pricing during peak demand Provides customers with greater choice on price, while improving returns from existing space Significant opportunity to apply the model across more products + $ 5 0 K Meeting room revenue lift (July 2026) from premium pricing at peak demand COOKSPACE Already generating just under $500/sqm return to the property Applies our experience in shared infrastructure and flexible space to a new sector Focus is now on refining fitout costs and learning from the first location before further expansion Early performance demonstrates the potential to do more with the property portfolio we already have 1 0 0 % occupied with first few months First CookSpace opened March 2026 in North Strathfield W O T S O - J u n e 2 0 2 6
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South Melbourne, VIC 7 W O T S O - J u n e 2 0 2 6 FINANCIAL HIGHLIGHTS
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1% 4% 29% - -3% 16% FY26 HIGHLIGHTS $10.12 $ 4 8 . 7 5 $ 3 6 7 4 0 9 7 % $ 1 . 3 7 1 . 4 5 8 W O T S O - J u n e 2 0 2 6 Underlying EBITDA Total Revenue Annual RevPAD M Number of Open Locations Total Portfolio Occupancy NAV / Security Final Distribution (Adjusted NAV / Security $1.76) (25 leased & 15 owned) (7 new locations in pipeline, 6 leased & 1 owned) M (Average Flexspace Occupancy 79%) c p s (Total Flexspace Revenue $35.28M) (Same Location Annual RevPAD $379) $10.06M in FY25 $47.05M in FY25 2% $359 in FY25 31 in FY25 97% in FY25 $1.41 in FY25 1.25 in FY25
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2026 2025 $’000 $’000 Flexspace sales 35,279 31,873 Real estate income - external 13,090 14,844 Real estate income - WOTSO 7,087 6,566 Other income 385 328 Total Gross Revenue 55,841 53,611 Less: Rent paid internally by WOTSO (7,087) (6,566) Total Revenue 48,754 47,045 Cost of sales - rent paid to external landlords (11,245) (9,990) Cost of sales - other operating expenses (20,241) (19,205) Contribution Margin 17,268 17,850 Overhead and administrative costs (7,969) (8,029) Equity accounted gains 817 234 Underlying EBITDA 10,116 10,055 Borrowing costs (5,883) (6,038) Finance income 454 269 Depreciation and amortisation (4,768) (4,792) Gain / (loss) on assets 961 (2,989) One-off legal and land tax expenses (1,080) - Net impact of AASB 16 (665) (911) Loss Before Income Tax (865) (4,406) FINANCIAL PERFORMANCE Flexspace sales up 11% to $35.3M. Real estate income down 12% to $13.1M following disposal of Yandina asset. Occupancy of properties stable at 97%. 13 Start-Up Locations adding drag to Flexspace Contribution Margin and, in combination with Yandina disposal, driving 3% decline in Group Contribution Margin to $17.3M. Underlying EBITDA up 1% to $10.1M with flat overhead costs and improved gains on equity accounted investments. Loss Before Income Tax improved to $865,000. F l e x s p a c e E n g i n e C o n t i n u e s B u i l d i n g 9 W O T S O - J u n e 2 0 2 6
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Location Opened Ownership Desks Sydney CBD 32 Q1 FY26 Leased 42 Te Tōangaroa 33 Q2 FY26 Leased 70 Whangārei 34 Q2 FY26 Owned 87 Rhodes 35 Q2 FY26 Leased 189 Gregory Hills 36 Q4 FY26 Leased 92 South Melbourne 37 Q4 FY26 Leased 87 Tea Tree plus 38 Q4 FY26 Leased 116 Geelong 39 Q4 FY26 Leased 30 Macquarie Park 40 Q4 FY26 Leased 111 OPERATIONAL HIGHLIGHTS 9 new Flexspace locations opened during the year, bringing total to 40 and doubling the portfolio since FY23. Desk inventory increased to 8,500 desks with RevPAD up 2% to $367 and Same Location RevPAD up 6% to $379. Mature Locations continue to account for vast majority of Flexspace Contribution Margin. Developing Locations increased Contribution Margin by $781,000 highlighting maturity curve. This was netted off by $641,000 loss by Start-Up Locations. Landlord contributions of $2.6M supported portfolio expansion. 10 J o u r n e y t o 4 0 L o c a t i o n s W O T S O - J u n e 2 0 2 6 Developing Location Contribution Margin Growth FY26 Flexspace Contribution Margin Composition Journey to 40 Locations
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FINANCIAL POSITION Sale of Yandina in February 2026 unlocked $16.5M of capital redeployed across the balance sheet: acquisition of investment property in Wellington, NZ; acquisition of 20% stake in Alerik property in North Strathfield, NSW; loan to investee BH Melbourne; improvements to existing property portfolio; buy-back of securities; and Flexspace growth. $2.8M of CAPEX spend in addition to landlord contributions invested in the 9 new Flexspace locations. New independent valuations for 6 properties offset by share of loss on director's revaluation of Pyrmont delivered a net gain on property holdings of $1.0M. Non-cash transactions leading reduction in NAV by 3% to $1.37/security following increased right of use lease liabilities, deferred taxes, and a weaker NZD driving unrealised FX losses. Balance Sheet Funding Flexspace Expansion 11 $’000 $’000 Cash and cash equivalents 5,848 4,927 Loan portfolio 3,352 2,309 Other current assets 1,682 1,450 Property holdings 283,236 300,606 Other investments 1,392 679 Property, plant and equipment 17,356 15,253 Other non-current assets 3,155 2,682 Flexspace business valuation 92,000 92,000 Total Assets 408,021 419,906 Other current liabilities (10,872) (6,372) Borrowings (94,348) (104,988) Other non-current liabilities (785) (611) Net right of use lease liabilities (10,833) (9,099) Deferred tax liability (6,200) (4,937) Total Liabilities (123,038) (126,007) Attributable to NCI (4,093) (3,797) Adjusted NAV attributable to WOTSO securityholders 280,890 290,102 Statutory Adjustments: Flexspace business valuation (92,000) (92,000) Goodwill 27,493 27,493 Management rights 2,299 2,814 Statutory NAV attributable to WOTSO securityholders 218,682 228,409 Adjusted NAV per security $1.76 $1.79 Statutory NAV per security $1.37 $1.41 W O T S O - J u n e 2 0 2 6 2026 2025
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CAPITAL MANAGEMENT Borrowings decreased to $94.3M after repayment of Yandina facility on disposal of asset. Net gearing down to 27.8%. Group LVR down 1% to 38%. $67.3M of borrowings refinanced during the year, with $3.5M of borrowings remaining current, net of $863,000 of undrawn facilities. Effective margin on borrowings sits at 1.86%, down from 1.96% in 2025. $1.6M inccurred buying back 2,521,853 securities during the year at average price of $0.62/security. 1.25 cps accretion to NAV. Distributions of $4.2M paid out during the year. Final distribution of 1.45 cps announced returning total FY26 distributions of 2.80 cps. Improving Capital Base Complimenting Further Growth 12 W O T S O - J u n e 2 0 2 6 Debt Maturity Profile Annual Distributions (cps)
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Sunshine Coast, QLD Q & A 13 W O T S O - J u n e 2 0 2 6
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APPENDIX Cremorne, NSW 14 W O T S O - J u n e 2 0 2 6
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OUR BOARD SEPH GLEW Seph has worked in the commercial property industry in New Zealand, the USA and Australia. Seph has driven large scale property development and financial structuring for real estate for over 50 years. In addition, since the early 1990s Seph has run many “turn-around” processes in relation to distressed properties and property structures for both private and institutional property owners. While working for the Housing Corporation of New Zealand and then AMP, Seph qualified as a registered valuer and holds a Bachelor of Commerce. In the 1980s he served as an Executive Director with New Zealand based property group Chase Corporation and as a Non-Executive Director with a number of other listed companies in New Zealand and Australia. Chairman RICHARD HILL Richard Hill has extensive investment banking experience and was the founding partner of the corporate advisory firm Hill Young & Associates. Richard has invested in BlackWall’s projects since the early 1990s. Prior to forming Hill Young, Richard held a number of Senior Executive positions in Hong Kong and New York with HSBC. He was admitted as an attorney in New York State and was registered by the US Securities & Exchange Commission and the Ontario Securities Commission. Richard has served as a Director (Chairman) of the Westmead Institute for Medical Research and Director (Chairman) of Sirtex Medical Limited (Sirtex), formerly listed on ASX. Non-Executive Director JESSIE GLEW Jessie is the CEO and COO of WOTSO. Prior to her appointment as CEO, Jessie was Joint Managing Director of both WOTSO and BlackWall Limited (ASX: BWF), the listed property and fund manager and previous manager of WOTSO. Jessie has been with the BlackWall Group since early 2011 and has over 15 years’ experience in the property industry, specifically in development and operations. Jessie also holds a Bachelor of International Communication from Macquarie University and a class one NSW real estate licence. Jessie joined the Board of The Kids’ Cancer Project in 2022, contributing insights and operational knowledge to help support the charity. Since 2024 Jessie has sat on the Board of Flexible Workspace Australia, the peak body for coworking and flexible workspace providers and partners across all cities and regions of Australia. CEO PAUL TRESSIDER Paul has considerable experience in retail management, leading, development and strategic planning. He spent eight years with Lendlease where he held a number of roles, including National Leasing Manager, before being appointed to the position of Divisional Manager responsible for half of the General Property Trust retail portfolio. Paul and fellow Lendlease executive Guy Wynn, formed a property management company which was subsequently acquired by Baillieu Knight Frank. In 1993, Paul joined Seph Glew in the development business that would ultimately become ASX listed BlackWall Limited (ASX: BWF). Non-Executive Director 15 W O T S O - J u n e 2 0 2 6
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SENIOR MANAGEMENT TEAM HEAD OF LEGAL AND COMPANY SECRETARY HEAD OF PEOPLE Chris Williams A g a t a R y a n C l a r e S i m m o n s Chris joined WOTSO in 2022 initially as the Group Financial Controller and then as the Head of Finance and Accounting before taking on the Chief Financial Officer role in 2024. Chris is responsible for overseeing the finance, tax and treasury functions within the group and brings over 16 years of diverse experience across financial reporting, tax, advisory and corporate finance. Prior to joining WOTSO, Chris spent time with KPMG and Deloitte, where he most recently served as a Senior Manager, working across both Australia and Canada. Chris is a member of the Chartered Accountants of Australia and New Zealand and holds a Bachelor of Business from the University of Technology, Sydney. HEAD OF PEOPLECHIEF FINANCIAL OFFICER Agata joined WOTSO in 2023 as the Head of Legal and Company Secretary. Agata oversees all aspects of WOTSO’s commercial and fund transactions, corporate governance and regulatory functions, and investor relations. Prior to joining WOTSO, Agata was a property lawyer working at a number of law firms, ranging from top tier to boutique, as well as legal counsel in the commercial property legal team at Stockland. Agata is admitted as a solicitor of the Supreme Court of New South Wales and the High Court of Australia and holds a Bachelor of Arts, Master of Commerce, and Juris Doctor degree from UNSW. Clare is the Head of People at WOTSO and has been an integral part of the business since 2007. With a degree in HR Management from Griffith University in QLD, Clare brings a wealth of experience in building teams, shaping culture, and supporting the growth of the business through its people. Over her time with WOTSO, Clare has helped guide the company through significant change and expansion, playing a key role in developing HR practices that reflect the flexibility and community focus at the heart of WOTSO’s brand. She is passionate about fostering a positive and inclusive workplace, with a strong focus on learning and development, team culture, and supporting the overall wellbeing of WOTSO’s people. 16 W O T S O - J u n e 2 0 2 6
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WOTSO x The Kids’ Cancer Project Charity Fun Run 2025 BEYOND BUSINESS 17 W O T S O - J u n e 2 0 2 6
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PEOPLE W O T S O W e l l b e i n g N o v a E m p l o y m e n t T h e K i d s ’ C a n c e r P r o j e c t Annual wellbeing calendar focused on improving staff health, engagement, and connection. Volunteer days scheduled throughout the year to encourage staff participation in community initiatives. Supports a positive workplace culture, promoting balance, resilience, and strong team connections. Partnership with Nova Employment to create sustainable jobs for people with disabilities across the WOTSO network. Currently employs ten staff through the program, providing stable, long term roles in a supportive environment. Recognised with Local Business Awards for inclusivity and performance. Partner since 2016, raising over $250,000 to date for research into better treatments for childhood cancer. Our CEO, Jessie Glew, sits on the Board of The Kids’ Cancer Project. Supports WOTSO’s commitment to making a measurable difference in the lives of our members and local communities. 18 W O T S O - J u n e 2 0 2 6
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ENVIRONMENT S o l a r P a n e l s X F r a m e U p c y c l i n g M a t e r i a l s Smart Metering WOTSO is committed to making environmentally conscious decisions and minimising our environmental footprint. We recognise the importance of reducing waste and carbon emissions, and we actively seek ways to reuse, recycle, and upcycle across our operations in practical ways. Suburban locations provide professional work options closer to home, reducing long commutes, easing traffic congestion, and lowering transport related emissions. Shared resources and infrastructure maximise efficiency and reduce duplication, much like taking a bus instead of each person driving a car. Installed at 8 WOTSO locations helping to reduce carbon emissions across our network. Reusable wall framing system allowing office layouts to be reconfigured without demolition waste. Creative reuse of materials to extend their life, conserve resources, and divert waste from landfill. Tracking real time energy usage to identify inefficiencies and reduce overall consumption. 19 W O T S O - J u n e 2 0 2 6
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3,685 businesses 79% occupancy across all locations W e a r e c u r r e n t l y h o m e t o : 8,500 members L o c a l s p a c e s Embedded in their communities, partnering with local groups, and supporting local economies and cultures. Incubator environment Flexible spaces and resources designed to nurture early stage and scaling businesses, providing the environment they need to succeed. T e n a n t m a r k e t p l a c e An internal platform and culture that encourages members to exchange skills, products, and services, creating business opportunities within the WOTSO network. Workshops, events, and peer connections that help members build new skills, share ideas, and grow their business. L e a r n i n g & g r o w t h P r o f e s s i o n a l n e t w o r k Access to a wide reaching network across multiple locations, enabling partnerships, referrals, and cross- industry connections. M e m b e r c o m m u n i t y A diverse mix of entrepreneurs, SMEs, and remote professionals who actively collaborate, share knowledge, and support each other’s growth. OUR COMMUNITY 1,938 Office & Coworking 1,747 Virtual Office 20 W O T S O - J u n e 2 0 2 6
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AASB Australian Accounting Standards Board ASX Australian Securities Exchange Contribution Margin Underlying EBITDA before overhead costs and equity accounted gains Coworking a subset of Flexspace that includes both open-plan desks as well as offices, operating as WOTSO WorkSpace cps cents per security Developing Locations WOTSO locations opened within the last 18-36 months EBITDA earnings before interest, tax, depreciations and amortisation EPS earnings per security Flexspace all flexible work solutions comprising the Group’s operating business includ-ing WOTSO WorkSpace, WOTSO HealthSpace, WOTSO CookSpace, and WOTSO StorageSpace KMP key management personnel Mature Locations WOTSO locations opened more than 36 months ago NAV net asset value NCI non-controlling interest NTA net tangible assets OCI other comprehensive income RevPAD revenue per available desk per month Same Location RevPAD RevPAD measured across the same Flexspace locations on a like-for-like basis sqm square metres Start-Up Locations WOTSO locations opened within the last 18 months Underlying EBITDA EBITDA before unrealised gains and losses, impact of AASB 16 and one-off transactions GLOSSARY 21 W O T S O - J u n e 2 0 2 6
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Zetland, NSW END 22 W O T S O - J u n e 2 0 2 6