Annual Shareholder Meetings 2022

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Stride Property Group Annual Shareholder Meetings 2022
Stride Property Group
Annual Shareholder
Meetings 2022

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Stride Property Group Annual Shareholder Meetings 2022
46 Sale Street, Auckland
Boards of Directors
Tim Storey
Chair of Board,
Independent
Ross Buckley
Chair of Audit and Risk
Committee, Independent
Jacqueline Cheyne
Chair of Sustainability
Committee, Independent
Philip Ling
Independent
Nick Jacobson
Independent
Michelle Tierney
Independent

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Stride Property Group Annual Shareholder Meetings 2022
Management
215 Lambton Quay, Wellington
Philip Littlewood
Chief Executive Officer
Jennifer Whooley
Chief Financial Officer
Louise Hill
Company Secretary and General
Manager Corporate Services

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Stride Property Group Annual Shareholder Meetings 2022
Chair’s Address
Chief Executive Officer’s
Presentation
Consideration of FY22 Annual
Report
Resolutions for Stride Property
Limited
Resolutions for Stride
Investment Management
Limited
General Business
Agenda

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Stride Property Group Annual Shareholder Meetings 2022
Chair’s
Address

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Stride Property Group Annual Shareholder Meetings 2022
FY22 Strategic Highlights
1.Stride defines “green assets” as assets achieving 4 Star NABERSNZ or 4 Star Green Star ratings or better.
2.As at 31 March 2022, as if the acquisition of 110 Carlton Gore Road and the divestment of 7-9 Fanshawe Street, 80 Greys Avenue, 25 Teed Street and 35 Teed Street had occurred as at that date.
$3.6bn
Total Assets
Under Management, up
$0.6bn or 20% from
31 March 2021
$2.5bn
External Assets
Under Management, up
$0.4bn or 20% from
31 March 2021
Stride continues to grow
its assets under
management (AUM),
while also proactively
managing capital to
support execution of
strategy
$324m
Gross transactions
completed
across Stride and
the Stride Products
Office portfolio repositioned through
strategic acquisitions and divestments
85% Prime or Grade A (+14%), 74% green rated
1
(+16%)
on a pro forma 31 March 2022 basis
2

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Stride Property Group Annual Shareholder Meetings 2022
$738m
$325m
$493m
$1,201m
$849m
$131m
$58m
$5m
$38m
$1,194m
$1,260m
$497m
$887m
Acquisitions, developments and disposals
Industrial
Large Format Retail
Retail Shopping Centres/Town Centre
Office
Portfolio composition by value as at 31 March 2022
Products
Sector focus:Office and Town Centre
2
Large Format RetailRetail Shopping CentresIndustrial
SPL investment:100%18.8%2.1%51.7%
Note: Numbers in chart may not sum due to rounding.
1.Acquisitions, developments and disposals comprise: (1) Stride: purchase price for 110 Carlton Gore Road; seismic strengthening costs for 34 Shortland Street; less the sale price for the disposal of four
office properties; (2) Investore: purchase price for the development land at WaimakJunction plus the estimated cost of Stage 1 of the development and $22.7m of capital expenditure across the existing
portfolio; (3) Diversified: remaining seismic strengthening costs for Queensgate Shopping Centre; (4) Industre: estimated costs of construction for three properties under development.
2.Stride office and town centre property excludes SPL's interest in the Industre unincorporated portfolio which is reported as part of the assets of SPL in the consolidated financial statements (see note 3.2 to
the consolidated financial statements for further information).
1
Since 31 March 2021, Stride’s AUM has grown from $3.0bn to $3.6bn or $3.8bn including acquisitions,
developments and disposals

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Stride Property Group Annual Shareholder Meetings 2022
Chief Executive
Officer’s Address

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Stride Property Group Annual Shareholder Meetings 2022
Management Fee Income
Stride continues to grow its
investment management business:
Note: Numbers in chart may not sum due to rounding.
1.Net of management fees received from SPL, but includes SPL building management fees which are
recovered from tenants.
2.FY21 management fees included the one-off establishment fee associated with the commencement of
Industreof $1.4m.
2
Recurring management
fees
+19% from FY21
Total AUM
External AUM
+74% / +12% p.a. since
31 March 2017
+115% / +17% p.a. since
31 March 2017
SIML management
fee
1
growth

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Stride Property Group Annual Shareholder Meetings 2022
Stride derives its income from:
•Management fees
•Direct property income from SPL’s directly owned property
•Indirect property income from SPL’s investment in the
Stride Products –Industre, Investore and Diversified
Diversified Income Sources
Stride combines a property ownership
business (SPL) with a real estate investment
management business (SIML)
1.Stride’s revenue comprises SIML management fees and SPL revenue. SPL revenue comprises
income derived from SPL’s directly held property plus revenue derived from its interests in the Stride
Products which is calculated based on net Contract Rental on a look-through basis as at 31 March
2022. Management fees comprise FY22 management fees from Stride Products (i.e. excluding fees
from SPL, but including SPL building management fees which are recovered from tenants).
FY22 look-through revenue sources
1

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Stride Property Group Annual Shareholder Meetings 2022
FY22 Financial Highlights
1.Distributable profit is a non-GAAP measure and consists of profit/(loss) before income tax, adjusted for determined non-
recurring and/or non-cash items, share of profits in associates, dividends received from associates and current tax. Further
information including the calculation of distributable profit and the adjustments to profit before income tax, is set out in note
4.2 to the consolidated financial statements.
Profit after income tax from
continuing operations
$112.3m
down $19.7m from FY21
Distributable profit
1
after
current income tax
$54.2m
up $7.9m from FY21
Net tangible assets
per share
$2.28
+$0.13 / +6.0% from March 2021
Distributable profit per share
10.95cps
Dividends per share
9.91cps

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Stride Property Group Annual Shareholder Meetings 2022
Stride has been active in repositioning the Fabric portfolio
1
towards prime, modern, green office
properties which will benefit from enduring demand
Fabric Portfolio Repositioned
418
631
147
305
222
147
723
853
Mar-20Mar-22Pro forma
Green assets
2
($m)
Green AssetsOther
58%
74%
386
599
123
123
147
214
131
147
723
853
Mar-20Mar-22Pro forma
Assets by grade ($m)
PrimeA GradeB Grade
3
70%
Note: Numbers in charts may not sum due to rounding.
1.Excludes 55 Lady Elizabeth Lane, Wellington, which remains owned by Stride Property Limited.
2.Stride defines “green assets” as assets achieving 4 star NABERSNZ or 4 star Green Star ratings or better.
3.As at 31 March 2022, as if the acquisition of 110 Carlton Gore Road and the divestment of 7-9 Fanshawe Street, 80 Greys Avenue, 25 Teed Street and 35 Teed Street had occurred as at that date.
3
85%

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Stride Property Group Annual Shareholder Meetings 2022
Acquisitions completed by Stride’s Products in FY22 have
focused on building future development pipelines, with
$130m of active projects committed and a strong future
pipeline of potential projects
1.Total cost of projects that achieved practical completion in FY22.
2.Total costs as at 31 March 2022.
3.Green projects are defined as projects that are targeting a minimum 4 star Green Star rating or 4 star NABERSNZ
rating. Seismic works, including the Queensgate Shopping Centre carpark rebuild have been excluded from this
calculation.
Developments
FY22
Completed
1
Committed
Projects
Remaining
Spend
Future
Pipeline
$37m--$200m+
-$58m$58m$45m+
$109m$34m$5m-
$4m$38m$36m$130m+
Total
2
$150m$130m$99m$375m+
Green projects
3
%
97%95%93%100%
22 The Terrace, Wellington

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Stride Property Group Annual Shareholder Meetings 2022
Climate-Related
Disclosures
During FY22 Stride has delivered significant
progress in its approach to sustainability and
climate risk
GHG emissions
reported for Scope 1 and Scope 2
Climate risk assessment
undertaken, preliminary risk ratings established
Minimum green rating policy
established for acquisitions and developments

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Stride Property Group Annual Shareholder Meetings 2022
Capital Management
$335m
$320m
$280m
$100m
$25m
1.24%
1.28%
1.35%
1.61%
1.60%
Mar-22Mar-23Mar-24Mar-25Mar-26
Fixed rate interest profile
Notional fixed rate debt
Weighted average fixed interest rate (excl. margin and line fees)
--
$300m
$160m
$140m
-
FY23FY24FY25FY26FY27FY28
Debt maturity profile
High levels of interest
rate hedging
110% hedged as
at 31 March 2022
Capital raise
provided balance
sheet flexibility
Loan to value ratio
$134m new capital
28.7% as at 31 March
2022 or 36.8%
committed
1
1.Includes committed acquisitions, developments and disposals.

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Stride Property Group Annual Shareholder Meetings 2022
•We will continue to support growth in the existing Stride Products
•We continue to explore opportunities for establishing the Fabric
office portfolio as a separate Stride Product
•We have high levels of hedging to manage rising interest rates
over the short to medium term
•We are conscious of the volatility in the current macro-economic
environment and will monitor the impact on our business
Outlook
46 Sale St, Auckland
Stride remains committed to its funds management
strategy

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Stride Property Group Annual Shareholder Meetings 2022
Formal Business

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Stride Property Group Annual Shareholder Meetings 2022
Stride Property
Limited Resolutions

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Stride Property Group Annual Shareholder Meetings 2022
Resolution 1 –Auditor’s Remuneration
215 Lambton Quay, Wellington
That the Directors be authorisedto fix the remuneration of PwC as
auditor of Stride Property Limited for the ensuing year

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Stride Property Group Annual Shareholder Meetings 2022
Resolution 2 –Ratification of Previous
Issue of Shares under a Placement
215 Lambton Quay, Wellington
That the previous issue under NZX Listing Rule 4.5.1 of
55,000,000 fully paid ordinary shares in Stride Property Limited to
investors at an issue price of $2.00 per stapled security (comprising
one share in Stride Property Limited and one share in Stride
Investment Management Limited) on 1 December 2021 be approved
and ratified for all purposes, including NZX Listing Rule 4.5.1(c)

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Stride Property Group Annual Shareholder Meetings 2022
Resolution 3 –Ratification of Previous
Issue of Shares under a Retail Offer
215 Lambton Quay, Wellington
That the previous issue under NZX Listing Rule 4.5.1 of
4,487,760 fully paid ordinary shares in Stride Property Limited to
eligible shareholders under the Retail Offer at an issue price of
$2.00 per stapled security (comprising one share in Stride Property
Limited and one share in Stride Investment Management Limited) on
16 December 2021 be approved and ratified for all purposes, including
NZX Listing Rule 4.5.1(c)

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Stride Property Group Annual Shareholder Meetings 2022
SPL Proxy Votes Received
215 Lambton Quay, Wellington
Resolution 1: Auditor’s Remuneration
Proxy Votes LodgedForAgainstDiscretionary
309,733,43096.27%1.01%
2.72%
Resolution 2: Ratification of Previous Issue of Shares under a Placement
Proxy Votes LodgedForAgainstDiscretionary
250,066,531
96.48%0.05%3.47%
Resolution 3: Ratification of Previous Issue of Shares under a Retail Offer
Proxy Votes LodgedForAgainstDiscretionary
249,905,935
96.54%0%3.46%

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Stride Property Group Annual Shareholder Meetings 2022
Stride Investment
Management
Limited Resolutions

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Stride Property Group Annual Shareholder Meetings 2022
Resolution 1 –Auditor’s Remuneration
215 Lambton Quay, Wellington
That the Directors be authorisedto fix the remuneration of PwC as
auditor of Stride Investment Management Limited
for the ensuing year

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Stride Property Group Annual Shareholder Meetings 2022
Resolution 2 –Re-election of Director
Tim Storey
215 Lambton Quay, Wellington
That Tim Storeybe re-elected as a
Director of Stride Investment
Management Limited

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Stride Property Group Annual Shareholder Meetings 2022
Resolution 3 –Re-election of Director
Jacqueline Cheyne
215 Lambton Quay, Wellington
That Jacqueline Cheyne be re-elected as
a Director of Stride Investment
Management Limited

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Stride Property Group Annual Shareholder Meetings 2022
Resolution 4 –Ratification of Previous
Issue of Shares under a Placement
215 Lambton Quay, Wellington
That the previous issue under NZX Listing Rule 4.5.1 of
55,000,000 fully paid ordinary shares in Stride Investment
Management Limited to investors at an issue price of $2.00 per
stapled security (comprising one share in Stride Property Limited
and one share in Stride Investment Management Limited) on
1 December 2021 be approved and ratified for all purposes,
including NZX Listing Rule 4.5.1(c)

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Stride Property Group Annual Shareholder Meetings 2022
Resolution 5 –Ratification of Previous
Issue of Shares under a Retail Offer
215 Lambton Quay, Wellington
That the previous issue under NZX Listing Rule 4.5.1 of
4,487,760 fully paid ordinary shares in Stride Investment Management
Limited to eligible shareholders under the Retail Offer at an issue price
of $2.00 per stapled security (comprising one share in Stride Property
Limited and one share in Stride Investment Management Limited) on
16 December 2021 be approved and ratified for all purposes, including
NZX Listing Rule 4.5.1(c)

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Stride Property Group Annual Shareholder Meetings 2022
SIML Proxy Votes Received
215 Lambton Quay, Wellington
Resolution 1: Auditor’s Remuneration
Proxy Votes LodgedForAgainstDiscretionary
309,733,430
96.24%1.01%2.74%
Resolution 2: Re-election of Director Tim Storey
Proxy Votes LodgedForAgainstDiscretionary
309,737,774
95.14%2.12%2.73%
Resolution 3: Re-election of Director Jacqueline Cheyne
Proxy Votes LodgedForAgainstDiscretionary
309,737,774
96.30%0.93%2.77%

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Stride Property Group Annual Shareholder Meetings 2022
SIML Proxy Votes Received (cont.)
215 Lambton Quay, Wellington
Resolution 4: Ratification of Previous Issue of Shares under a Placement
Proxy Votes LodgedForAgainstDiscretionary
250,066,531
95.87%0.64%3.48%
Resolution 5: Ratification of Previous Issue of Shares under a Retail Offer
Proxy Votes LodgedForAgainstDiscretionary
249,914,985
95.90%0.60%3.50%

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Stride Property Group Annual Shareholder Meetings 2022
General Business
and Shareholder
Questions

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Stride Property Group Annual Shareholder Meetings 2022
Thank you
Stride Property Group
Level 12, 34 Shortland Street
Auckland 1010, New Zealand
PO Box 6320
Victoria Street West
Auckland 1142, New Zealand
P +64 9 912 2690
W strideproperty.co.nz
Important Notice: The information in this presentation is an overview and does not
contain all information necessary to make an investment decision.It is intended to
constitute a summary of certain information relating to the performance of Stride
Property Group for the twelve months ended 31 March 2022. Please refer to Stride
Property Group’s Annual Report 2022 for further information in relation to the twelve
months ended 31 March 2022. The information in this presentation does not purport to
be a complete description of Stride Property Group. In making an investment decision,
investors must rely on their own examination of Stride Property Group, including the
merits and risks involved. Investors should consult with their own legal, tax, business
and/or financial advisors in connection with any acquisition of securities.
No representation or warranty, express or implied, is made as to the accuracy,
adequacy or reliability of any statements, estimates or opinions or other information
contained in this presentation, any of which may change without notice. To the
maximum extent permitted by law, each of Stride Property Limited, Stride Investment
Management Limited (together, the Stride Property Group) and their respective
directors, officers, employees, agents and advisers disclaim all liability and
responsibility (including without limitation any liability arising from fault or negligence
on the part of Stride Property Group, its directors, officers, employees and agents) for
any direct or indirect loss or damage which may be suffered by any recipient through
use of or reliance on anything contained in, or omitted from, this presentation.
This presentation is not a product disclosure statement or other disclosure document.