Real Estate

• The $200 million buy-back is the most visible change inCapitalpolicy.

• The report said 58% of supermarkets pay turnover rent, which links part of the income to tenants' sales, and comparable supermarket moving annual turnover rose 4.1%.

• Rent escalators built into leases provide predictable growth: average specialty rent escalations were 5.5%, and the group completed 1,401 leasing deals with average releasing spreads of 3.7%.

• Investors who focus on income should also note that guidance on distributions is management's intention, not a commitment, and that the 69%Payout Ratioleaves some retainedCapitalfor development.

• Gearing was 26.1% at June 2026 (26.5% pro forma), at the lower end of the target range, withInterest Coverof 4.1 times and a weighted average cost ofDebtof 4.98%.

• According to the company's valuation update, 372 of the 394 properties, about 94%, have contracted annual reviews.

CVC reported total income of A$212.2 million for the year ended 30 June 2026 and net profit after tax of A$7.7 million. The company said its portfolio covers about 9,401 hectares on a 100% ownership basis, with major projects site area of about 2,800 …