Announcement PDF 1 EUROZ HARTLEYS INDUSTRIAL FORUM 20 NOVEMBER 2025 CIVIC HEART 2 ABOUT FINBAR • Finbar Group Limited, listed on the ASX since 1995, has established a remarkable 30-year profitable track record as Western Australia’s leading apartment property developer. • With a 100% project delivery success rate, Finbar has completed 79 residential and mixed-use developments to date, comprising 7,407 apartments and commercial units across the state. This achievement, combined with 30 consecutive years of profit, underpins Finbar’s position as one of WA’s most trusted developers. • Throughout its history, Finbar has consistently shaped Perth’s skyline, achieving major milestones across the decades, from its first project, Seville on the Point, to landmark luxury developments and over $4 billion in completed projects. Today, with a skilled team of 18 professionals, the company continues to focus on sustainably elevating the quality of inner-city living and enhancing Perth’s urban environment for future generations. 3 79 COMPLETED PROJECTS | 7,407 UNITS 4 STRATEGIC GROWTH SUMMARY Delivering WA’s Housing Needs Focused Growth in Apartments • Include map of perth with dots showing our key projects (future and previous) WHERE WE BUILD – Elevating the standard of inner-city living • Prime, walkable, transit-connected precincts across metropolitan Perth • Designed to enhance lifestyle, community and accessibility HOW WE COMPETE – Trusted partnerships. Proven performance • 30+ years in operation with 20%+ repeat buyers • Strategic Builder relationship ensures cost visibility and stability throughout the development process • Access to capital on efficient and competitive terms through major financial institutions WHAT WE DELIVER – Shaping Perth’s skyline with purpose • Large-scale residential and mixed-use projects • Mid-market focus addressing WA’s housing supply gap • Preference for wholly owned projects OUR RECOGNITION – Excellence that stands tall • Award winning developments including Civic Heart (Perth’s tallest residential tower) and Sabina Applecross • Recognised by UDIA WA and Property Council for design innovation, community value and sustainability OUR FUTURE – Sustained growth built on a solid foundation • $1.2+ billion five-year development pipeline • Strong balance sheet and supportive market conditions (migration, housing undersupply, policy tailwinds) • Continued delivery of high-quality apartment projects 5 CORPORATE OVERVIEW Capital Structure Current Shares on Issue 272,123,142 Market Capitalisation1 $238m Top 20 Holders 2 71.4% Board & Management Shareholding 2 37.9% 1. Closing price on 19 November 2025 ($0.875 per share) 2. As at 19 November 2025 MARKET OUTLOOK Current State of the Western Australian Residential Market – Key Trends & Insights Demand Drivers • Strong Migration: Continued interstate and overseas migration with annual net increase 11,675 and 41,395 respectively, equating to over 1,000 people per week 1 • Market Outperformance: Perth Remains Top Performer: Perth led the nation with a 1.9% rise, driven by the most severe supply scarcity, with advertised stock levels tracking 45% below the 5-year average.2 • WA Apartment Market Outperformance: "We're seeing the strongest apartment market since before the incentive drive of 2020/2021" - David Cresp, Urbis Apartment Essentials Report press release November 2025 • Record High Dwelling Values: Perth dwelling values at a record high, with 47% of the annual growth recorded in the September quarter 2 • Affordability Gap: Growing price gap between detached housing and units – median house price $820K vs unit price $575K - is expected to drive continued apartment demand 3 • Investor Resurgence: Investor finance activity for purchase of newly erected dwellings 47% above the six-year average in the September quarter 4 (was 35% for the June Quarter) • Rental Market Strength: Median rent has risen to approximately $650 per week for apartments, a 5.8% year-on-year increase, with extremely low vacancy at 0.7% 5 6 References 1 Australian Bureau of Statistics (March 2025), National, state and territory population, ABS Website, Released 18/09/2025 2 Cotality 2025, Monthly Housing Chart Pack - November, https://www.cotality.com/au/insights/articles/monthly-housing-chart-pack---november 3 REIWA, Perth Market Insights, Website, 12 Month period ending October 2025 4 Australian Bureau of Statistics (Sep-quarter-2025), Lending indicators, ABS Website, Released 12/11/2025 5 SQM Research, Weekly Rents: Perth, 19 November 2025 7 Capital cities by Value Segment – Quarterly change (3 months to October 2025) Cotality’s Monthly Housing Chart Pack highlights that the lowest 25% or middle 50% of market values are seeing the fastest appreciation. Cotality Monthly Housing Chart Pack November 2025 MARKET OUTLOOK DEVELOPMENT SALES ACTIVITY UPDATE GARDEN TOWERS 8 Finbar vs total Sales Source: Urbis Apartment Essentials Q3 2025 Highest market share ever – Finbar 60% 8 21 88 108 71 77 157 275 275 563 386 237 87 315 156 293 437 485 418 326 250 365 344 198 307 442 314 203 285 469 0.02 0.06 0.24 0.30 0.19 0.21 0.43 0.75 0.75 1.54 1.06 0.65 0.24 0.86 0.43 0.80 1.20 1.33 1.15 0.89 0.68 1.00 0.94 0.54 0.84 1.21 0.86 0.56 0.78 1.46 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 0 100 200 300 400 500 600 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 No. Sales Sales Per Day 10 AVERAGE SALES PER DAY (CALENDAR YEAR) CY TO DATE TO-DATE 18 NOV 2025 • 469 sales this CY2025 • Average 1.46 sales per day 87% increase over previous year $88 $146 $171 $163 $42 $69 $12 $64 $24 $175 $142 $176 $244 $212 $205 $194 $181 $170 $157 $123 $102 $88 $69 $54 $- $50 $100 $150 $200 $250 $300 Millions 11 COMPLETED STOCK SELL DOWN TO-DATE 18 NOV 2025 • $158 million in completed stock sell down CY 2025 at Civic Heart, Aurora, The Point (excluding Pelago*) averaging $15.2 million per month. TO DATE Completion Completion Completion Completion Completion Completion * Pelago, Karratha excluded from Completed Stock as it is classified as Asset held for Sale 12 TOTAL CURRENT PRESALES VALUE (FINANCIAL YEAR) YEAR TO DATE $251 $257 $195 $123 $46 $167 $310 $397 $415 $296 $514 $- $100 $200 $300 $400 $500 $600 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Millions TO DATE TO-DATE 18 NOV 2025 • $514 million in total pre-sales: • $455 million in off-the-plan • $47 million in completed stock • $12 million Pelago Karratha 45% 36% 30% 44% 20% 34% 29% 24% 29% 26% 32% 31% 27% 30% 34% 32% 36% 58% 44% 36% 45% 34% 48% 55% 53% 68% 53% 28% 36% 33% 53% 0% 10% 20% 30% 40% 50% 60% 70% 80% 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 2018 2019 2020 2021 2022 2023 2024 2025 No. Units % Proportion of Investors Sales INVESTORS SALES • In Q3 2025, 53% of buyers are Investors and 47% are Owner Occupiers • Represents a 65% increase in investor demand compared to the average investor sales achieved over the previous three quarters. • Riverbank highest selling project ever recorded in a quarter – Urbis Perth Apartment Essentials Report 13 TO-DATE 18 NOV 2025 REPEAT BUYERS (CALENDAR YEAR) 14 • 18% repeat buyer sales CY 2025 • 56% increase over last year • Strong repeat buyer profile driven through leveraging of Finbay Loyalty Club membership 2 12 29 26 20 26 42 46 29 37 40 37 31 55 86 1% 3% 6% 6% 6% 10% 12% 13% 15% 12% 9% 12% 15% 19% 18% 0% 5% 10% 15% 20% 25% 0 10 20 30 40 50 60 70 80 90 100 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Grand Total % Repeat buyer TO-DATE 18 NOV 2025 15 COMPLETED PROJECTS Completed June 2024 $445m | 334 units Completed October 2024 $158m | 121 units Completed August 2024 $113m | 176 units 8 RESIDENTIAL LOTS UNSOLD $18M Value 8 RESIDENTIAL LOTS UNSOLD $17M Value 5 RESIDENTIAL LOTS UNSOLD $4M Value Over 96% of apartments across completed projects sold TO-DATE 18-Nov-25 97% RESIDENTIAL SOLD 97% RESIDENTIAL SOLD 93% RESIDENTIAL SOLD 40 RESIDENTIAL LOTS UNSOLD $24M Value $39m, 21 Unsold Residential Stock (excluding Pelago) 57 RESIDENTIAL UNITS SOLD SINCE JUNE 2025 Asset Held for Sale South Perth Rivervale Karratha Applecross 16 PROJECTS UNDER CONSTRUCTION Total Estimated End Value $517m, 682 Lots 80% SOLD 100% SOLD Completion est mid-2026 $285M Value | 343 units Completion est mid-2026 $114M Value | 196 units Completion est mid-2027 $118M Value | 143 units 97% SOLD TO-DATE 18-Nov-25 Bel-Air sold out and Riverbank at 97% sold East Perth Belmont Rivervale PROJECTS TO LAUNCH Launch est H1 2026 Completion est 2028 $172M Value | 152 Units Total Estimated End Value $268m, 282 Lots Full Launch December 2025 Completion est mid-2027 $96M Value | 130 Units 28% RESIDENTIAL SOLD PRE-LAUNCH Two Project launches planned in the next six months Palmyra Applecross PROJECTS IN PLANNING Pipeline Lot 888, Rivervale Lyall Street, South Perth Railway Parade, West Leederville Launch est H2 2026 Completion est mid-2029 $187M Value | 184* Units Launch est mid 2026 Completion est mid-2029 $238M Value | 267* Units Launch est mid 2027 Completion est mid-2029 $63M Value ~1,500 Apartments Pipeline to be delivered in the next 5 years | $1.2bn+ End Value 18 Total Estimated End Value $482m, 563 Lots *Subject to DA Approval FIVE YEAR DEVELOPMENT PIPELINE 2025 and 2026 Deliverables: • Completion of Garden Towers • Completion of Bel-Air Apartments • Construction of Riverbank Residences commenced in October 2025 • Palmyra West pre-launch in November 2025 and construction commencement in February 2026 • Romeo Applecross launch in H1 2026 • Railway Parade launch in H2 2026 • Lyall Street launch in H2 2026 Indicative, subject to change Strong cash position at 18 November 2025 of $59m positions us with the financial capacity to continue pursuing new development opportunities to further bolster and refine our pipeline Important Notice 20 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.