New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

Precinct Properties New Zealand / Equity Bottom-Up

<ul><li>Solid start to FY23: PCT reported 1H23 adjusted funds from operations (AFFO) growth of +10% from the prior period to NZ$54m</li><li>Prime office remains in demand: PCT's headline portfolio metrics remain strong, with 98% occupancy and an average lease term of 6.2 years</li><li>Rapidly expanding investment management business: PCT has continued to expand its asset management business with the sale of the 124 Halsey St development into the GIC partnership and the divestment of Bowen Campus Stage 2 on completion to a JV with PAG</li></ul>

Solid start to FY23: PCT reported 1H23 adjusted funds from operations (AFFO) growth of +10% from the prior period to NZ$54mPrime office remains in demand: PCT's headline portfolio metrics remain strong, with 98% occupancy and an average lease term of 6.2 yearsRapidly expanding investment management business: PCT has continued to expand its asset management business with the sale of the 124 Halsey St development into the GIC partnership and the divestment of Bowen Campus Stage 2 on completion to a JV with PAG

Precinct Properties NZ: 1H23 Result — Partnering for Growth