Announcement PDF 1 DEVELOPMENT SALES ACTIVITY UPDATE 2 GARDEN TOWERS TOTAL NUMBER OF SALES PER MONTH “Consistent sales rates comprising mix of both OTP sales and completed stock ” 100 90 87 80 74 70 60 56 49 50 44 43 42 43 40 45 40 40 31 29 30 25 23 20 29 17 16 10 38 37 37 33 32 26 29 27 27 26 22 20 18 18 17 13 12 10 32 26 29 32 28 26 20 16 49 34 35 32 26 27 24 20 22 21 20 19 19 16 17 17 16 15 14 13 12 11 10 23 40 35 34 51 47 46 2425 20 15 21 20 16 15 15 14 13 13 11 11 9 5 4 TO-DATE 24 31 21 24 18 21 18 17 15 7 24 FEB 25 23 23 16 18 12 14 14 11 9 TOTAL SALES NO. 3 Off-the-plan Completed Jan-25 Sep-24 Nov-24 Jul-24 May-24 Mar-24 Jan-24 Nov-23 Sep-23 Jul-23 May-23 Mar-23 Jan-23 Nov-22 Sep-22 Jul-22 May-22 Jan-22 Mar-22 Nov-21 Sep-21 Jul-21 May-21 Mar-21 Jan-21 Sep-20 Nov-20 Jul-20 May-20 Mar-20 Jan-20 Nov-19 Sep-19 Jul-19 May-19 Mar-19 Jan-19 Nov-18 Sep-18 Jul-18 May-18 Jan-18 Mar-18 Nov-17 Sep-17 Jul-17 May-17 Mar-17 Jan-17 Nov-16 Sep-16 Jul-16 May-16 Mar-16 Jan-16 0 $1,400 700 “Increased sales of premium product offering have contributed to a rise in average prices in line with market trends” $1,172 $1,200 600 $1,000 500 $863 $852 $730 $800 $686 $678 $629 $617 $577 $557 $600 400 $706 $626 $611 $648 $601 $598 $526 $519 $559 $549 300 $462 $319 $333 $299 $232 $389 $365 $372 200 $255 FY TO DATE $400 $330 $200 1 15 24 178 54 50 100 230 245 309 591 305 211 138 321 184 338 547 403 430 266 235 406 264 200 454 395 189 310 130 $- 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 NUMBER OF SALES 4 100 AVERAGE SALES ($’000) Units Thousands AVERAGE SALES VALUE (PER UNIT) - FINANCIAL YEAR COMPLETED STOCK SELL DOWN COMPLETION Millions “$192 million in debt free completed stock in process of being sold down at an average of $13.3m per month” $300 COMPLETION $248 $250 COMPLETION $212 COMPLETION $200 $147 $96 $100 COMPLETION $204 $192 $91 $89 $179 $157 $158 $163 $153 $147 $144 $138 $137 $125 $179 $150$146 $64 $107 $94 $60 $69 $79 $57 $62 $67 $50 COMPLETION $172 $150 $59 $57 $53 $53 $42 $53 $49 $51 $42 $37 $34 $32 $31 $29 $27 $26 $21 $20 $19 $18 $- 5 COMPLETION Total Amount of Unsold Completed Stock $14 $12 $49 $46 $43 $43 $38 $36 $33 $26$24 6 Sep-16 PROJECT COMPLETION & SETTLEMENT $100 $- MONTH TO DATE $300 Jan-25 Nov-24 AT238 PERTH Sep-24 Jul-24 May-24 “$281 million in pre-sales to support future settlement revenue” Mar-24 Jan-24 Nov-23 Sep-23 Jul-23 May-23 Mar-23 Jan-23 Nov-22 Sep-22 VUE Jul-22 May-22 Mar-22 Jan-22 ONE KENNEDY Nov-21 Sep-21 Jul-21 May-21 Mar-21 Jan-21 Nov-20 Sep-20 Jul-20 REVA May-20 UNISON ON TENTH Mar-20 $700 Jan-20 Nov-19 CONCERTO Sep-19 Jul-19 May-19 MOTIVE Mar-19 Jan-19 Nov-18 Sep-18 SUBI STRAND & TOCCATA NORWOOD Jul-18 May-18 Mar-18 Jan-18 Nov-17 ARBOR NORTH Sep-17 Jul-17 May-17 LINQ Mar-17 Jan-17 Nov-16 $400 Jul-16 May-16 Mar-16 Jan-16 Nov-15 $500 Sep-15 Jul-15 May-15 Mar-15 Jan-15 Millions TOTAL PRESALES HELD (VALUE) THE POINT CIVIC $600 AURELIA & AIRE PALMYRA EAST SABINA AURORA RIVERENA DIANELLA $281 m $200 INVESTOR SALES VS OWNER OCCUPIER PER CALENDAR QTR “Owner occupiers dominating recent sales by favouring completed stock” 140 90% 78% 80% 120 68% 69% 70% 100 60% 53% 80 50% 47% 40% 60 30% 32% 40 31% 20% 22% 20 10% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2012 2013 2014 2015 Total Sales 7 2016 Investor Sales 2017 Owner Sales 2018 2019 2020 % Proportion of Investors Sales 2021 2022 % Proportion of Owner Sales 2023 2024 2025 YEARLY FIRB SALES “Foreign sales has increased in 2024 with stamp duty concessions for off-the-plan sales” Units 100 90 80 70 60 50 40 30 20 10 34 54 34 89 77 44 65 86 21 27 19 38 37 42 1 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 FOREIGN BUYER SURCHARGE TAX INTRODUCED TO WA IN JAN 2019 8 PROJECT UPDATE COMPLETED PROJECTS 9 CIVIC HEART REVA SOUTH PERTH 5 HARPER TERRACE, SOUTH PERTH Project: Reva consists of 41 luxury apartments plus 18 commercial lots of ground floor retail and level one office space. ▪ Status: Completed January 2019 ▪ Ownership: Wholly owned through subsidiary ▪ Value: ~$46.6 million ▪ Completed: FY19 ▪ Average price: $794k ▪ Sales: FOR SALE, 3 No. Units SETTLED, 56 10 UNDER CONTRACT, 0 FOR SALE, $2.8m $ Value UNDER CONTRACT, $0.0m SETTLED, $43.8m 10 AT238 PERTH 238 ADELAIDE TERRACE, PERTH Project: AT238 consists of 119 one, two, and three bedroom apartments plus 2 ground floor commercial on 1,697m2 land over 31 levels. ▪ Status: Completed. All units sold, one remaining to settle. ▪ Ownership: 50% JV through SPV ▪ Value: ~$100.2 million ▪ Completion: FY23 ▪ Average Price: $829k ▪ Sales: No. Units SETTLED, 120 11 FOR $ Value SALE, FOR SALE, 0 $0.0m UNDER CONTRACT, $0.9m UNDER CONTRACT, 1 SETTLED, $99.3m CIVIC HEART 1 MENDS STREET, SOUTH PERTH Project: Civic Heart consists of 309 one, two, and three bed apartments plus 26 commercial lots. ▪ Status: Completed ▪ Ownership: 52.5% JV with landowner ▪ Value: ~$448.6 million ▪ Completion: FY24 ▪ Average Price: $1.34m ▪ Sales: No. Units UNDER CONTRACT, 11 SETTLED, 285 12 $ Value FOR SALE, 38 SETTLED, $328.7m FOR SALE, $89.5m UNDER CONTRACT, $30.4m 12 THE POINT 31 ROWE AVENUE, RIVERVALE Project: The Point consists of 167 one, two, and three bedroom apartments plus nine ground floor commercial units. ▪ Status: Completed ▪ Ownership: 65% JV with landowner ▪ Value: ~$113.5 million ▪ Completion: FY25 ▪ Average Price: $645k ▪ Sales: $ Value No. Units FOR SALE, $37.5m FOR SALE, 44 SETTLED, 127 UNDER CONTRACT, 5 SETTLED, $73.3m UNDER CONTRACT, $2.7m 13 13 AURORA 3 KINTAIL ROAD, APPLECROSS Project: Aurora consists of 118 one, two, and three bed apartments plus three ground floor commercial units. ▪ Status: Completed ▪ Ownership: 50% JV with landowner ▪ Value: ~$158.3 million ▪ Completion: FY25 ▪ Average Price: $1.31m ▪ Sales: $ Value No. Units FOR SALE, 34 SETTLED, 79 UNDER CONTRACT, 8 SETTLED, $82.2m FOR SALE, $60.9m UNDER CONTRACT, $15.2m 14 14 Development Activity Update PROJECTS UNDER CONSTRUCTION 13 15 GARDEN TOWERS GARDEN TOWERS CNR PLAIN STREET & HAY STREET, EAST PERTH Project: Garden Towers will consist of 331 one, two, and three bed apartments, plus 13 commercial lots. ▪ Status: Under Construction ▪ Ownership: 50% JV through SPV ▪ Value: ~$276.7 million ▪ Est. Completion: FY26 ▪ Average Price: $804k ▪ Sales: No. Units $ Value FOR SALE, 116 UNDER CONTRACT, 228 16 FOR SALE, $122.0m UNDER CONTRACT, $154.7m 16 AT238 CONSTRUCTION PROGRESS 17 17 BEL-AIR 239 GREAT EASTERN HIGHWAY, BELMONT Project: Bel-Air will consist of 194 one and two bedroom apartments, plus two commercial lots ▪ Status: Under Construction ▪ Ownership: Wholly owned through subsidiary ▪ Value: ~$113.2 million ▪ Est. Completion: FY26 ▪ Average Price: $578k ▪ Sales: No. Units $ Value FOR SALE, $39.4m FOR SALE, 69 UNDER CONTRACT, 128 UNDER CONTRACT, $74.5m 18 18 CIVIC HEART CONSTRUCTION PROGRESS 19 19 DEVELOPMENT APPROVAL RECEIVED 20 20 RIVERBANK APARTMENTS RIVERBANK APARTMENTS 32 RIVERSDALE ROAD, RIVERVALE Project: Riverbank Apartments comprises 4,069m2 of absolute waterfront land with expansive views of the Swan River, Stadium Precinct, and Perth CBD. Approval received for 143 residential apartments. ▪ Status: Development Approval Received. Marketing launch commences mid-2025. ▪ Ownership: 50% JV with land owner ▪ Value: ~$108.5 million ▪ Est. Completion: TBC No. Units $ Value FUTURE RELEASE*, 143 FUTURE RELEASE*, $108.5m * Indicative lots and project values only 21 21 ROMEO 912 CANNING HIGHWAY, APPLECROSS Project: Romeo will consist of approximately 152 one, two, and three bed apartments, and three ground floor commercial lots. ROMEO ▪ Status: Development Approval Received ▪ Ownership: 50% JV with landowner ▪ Value: ~$155 million ▪ Est. Completion: TBC ▪ Sales: $ Value No. Units FUTURE RELEASE*, 155 22 FUTURE RELEASE*, $155.0m * Indicative lots and project values only 22 PALMYRA WEST 47 MCGREGOR ROAD, PALMYRA Project: Palmyra West will consist of approximately 130 one, two, and three bedroom apartments. ▪ Status: Development Approval Received ▪ Ownership: 50% JV with landowner ▪ Value: ~$80 million ▪ Est. Completion: TBC ▪ Sales: $ Value No. Units FUTURE RELEASE*, 130 23 FUTURE RELEASE*, $80.0m * Indicative lots and project values only 23 6 HOMELEA COURT CNR ROWE AVENUE AND HOMELEA COURT, RIVERVALE Project: 6 Homelea Court will consist of approximately 171 apartments over 12 levels on a 3,770m2 site. ▪ Status: Development Approval Received ▪ Ownership: Wholly owned through subsidiary ▪ Value: ~$100 million ▪ Est. Completion: TBC 24 * Indicative lots and project values only 24 IN PLANNING, APPROVAL PROCESS, OR DESIGN 25 25 25 6 HOMELEA COURT LOT 888 LOT 888 ROWE AVENUE, RIVERVALE Project: Lot 888 comprises of 2370m2 of land within The Springs, Rivervale Precinct. ▪ Status: Development application currently being prepared for lodgment for a 108-unit project over 15 levels. ▪ Ownership: 50% JV through SPV ▪ Value: ~$57.0 million ▪ Est. Completion: TBC 26 * Indicative lots and project values only 26 ABC HERITAGE BUILDING 187 ADELAIDE TERRACE, EAST PERTH Project: Harmony comprises the former ABC Radio Studios heritage building with a GFA of 3,711m2 over 3 levels. ▪ Status: Land bank for future use ▪ Ownership: Wholly owned through subsidiary ▪ Value: TBC 27 27 CURRENT PIPELINE $1.2b RESIDUAL PIPELINE $’m 500 $390m UNDER CONSTRUCTION 450 400 350 300 250 200 150 100 50 0 Reva AT238 Civic Heart Aurora The Point Garden Towers Sold Stock Value $m Bel-Air Riverbank Apartments Romeo Palmyra West Harmony 6 Homelea Court Lot 888 Remaining Stock Value $m 28 28 UNITS DEVELOPED TO DATE & PIPELINE 540 708 Units 10000 9000 7407 8000 7000 6000 5000 4000 3000 2000 1000 0 96 97 98 99 00 01 03 04 05 07 08 DEVELOPED 09 10 11 12 UNDER CONSTRUCTION 13 14 15 16 17 18 19 20 22 23 24 FUTURE PROJECTS 29 29 Important Notice Future performance and forward looking statements This announcement contains certain forward looking statements with respect to the financial condition, results of operations, projects and business of Finbar and certain plans and objectives of Finbar. Forward looking statements can generally be identified by the use of forward looking words such as 'expect', 'anticipate', 'likely', 'intend', 'propose', 'should', 'could', 'may', ‘will’, 'predict', 'plan', 'believe', 'forecast', 'estimate', 'target', ‘continue’, ‘objectives’, ‘outlook’, ‘guidance’ and other similar expressions. The forward looking statements, opinions and estimates contained in this announcement are based on Finbar’s intent, belief or current expectations, assumptions and contingencies which are subject to change without notice, as are any statements about market and industry trends, which are based on interpretations of current market conditions. They involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Finbar and its officers, employees, agents and associates, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. Any forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Readers are cautioned not to place undue reliance on forward-looking statements. There can be no assurance that actual outcomes will not differ materially from these forward looking statements. A number of important factors could cause actual results or performance to differ materially from the forward looking statements. Investors should consider the forward looking statements contained in this announcement in light of those disclosures. Neither Finbar, nor any other person, gives any representation, warranty, assurance, nor will guarantee that the occurrence of the events expressed or implied in any forward looking statement will occur. To the maximum extent permitted by law, Finbar, the Group, other persons referred to in this announcement and each of their respective advisors, affiliates, related bodies corporate, directors, officers, partners, employees and agents disclaim any responsibility and undertake no obligation for the accuracy or completeness of any forward looking statements whether as a result of new information, future events or results or otherwise. Finbar disclaims any responsibility to update or revise any forward looking statements to reflect any change in Finbar’s financial condition, status or affairs or any change in the events, conditions or circumstances on which a statement is based except as required by Australian law. 30