Precinct Quarterly Update - June 2024

Precinct Properties (NZX: PCT) has advanced the design of Auckland's Downtown redevelopment, aiming to create a mixed-use precinct with office, residential, hospitality, and public spaces. Independent Director Graeme Wong will step down in November 2024, and a search for a new director is in progress.

The company expects no change to the 2024 total combined cash dividends, maintaining 6.75 cents per stapled security. Key financial metrics as of March 31, 2024, include a portfolio value of NZ$3.2 billion, 97% occupancy, and a net asset value per share of NZ$1.35. InterContinental Auckland at One Queen Street is now operational, with a new rooftop restaurant and bar launched in May 2024. Precinct achieved Toitu Carbonzero certification for FY23, reducing Category 1 & 2 emissions by 56% since the baseline year, and committed to setting a Net Zero target.

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