Statements of Movements in Stapled Securityholders’ Funds Year ended 31 December 2024 Attributable to Stapled Securityholders Stapled Securities in issue Revenue reserve Foreign currency translation reserve Capital reserve Hedging reserve Asset revaluation reserve Total Perpetual securities Non- controlling interests Total equity Stapled Group $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 At 1 January 2023 3,075,061 1,212,460 (431,813) 724 37,430 71,574 3,965,436 396,298 83,061 4,444,795 Total return/(loss) for the year – 231,255 – – – – 231,255 – (1,474) 229,781 Total return attributable to perpetual securities holders – (13,495) – – – – (13,495) 13,495 – – Other comprehensive income Effective portion of change in fair values of cash flow hedges – – – – 1,985 – 1,985 – – 1,985 Net change in fair value of cash flow hedge reclassified to Statement of Total Return – – – – (18,069) – (18,069) – – (18,069) Realisation of reserves upon divestment – – 8,002 – – – 8,002 – – 8,002 Revaluation surplus on land and buildings (net of tax) – – – – – 52,799 52,799 – – 52,799 Exchange differences arising from translation of foreign operations and foreign currency loans forming part of net investment in foreign operations – – 2,034 – – – 2,034 – (945) 1,089 Total other comprehensive income – – 10,036 – (16,084) 52,799 46,751 – (945) 45,806 Transactions with owners, recognised directly in equity Contributions by and distributions to owners REIT Manager’s management fee payable in Stapled Securities 22,340 – – – – – 22,340 – – 22,340 BT Trustee-Manager’s management fee payable in Stapled Securities 2,329 – – – – – 2,329 – – 2,329 Issue of Stapled Securities under equity fund raising 303,053 – – – – – 303,053 – – 303,053 Issue expenses relating to equity fund raising (5,800) – – – – – (5,800) – – (5,800) REIT Manager’s acquisition fees payable in Stapled Securities 2,982 – – – – – 2,982 – – 2,982 Distribution to Stapled Securityholders (149,028) (49,183) – – – – (198,211) – – (198,211) Distribution to perpetual securities holders – – – – – – – (13,495) – (13,495) Distribution to non-controlling interests – – – – – – – – (3,286) (3,286) Total contributions by and distributions to owners 175,876 (49,183) – – – – 126,693 (13,495) (3,286) 109,912 The accompanying notes form an integral part of these financial statements. 123 Annual Report 2024
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