Qualitas Real Estate Income Fund Announces June 2026 Distribution of 1.1309 Cents Per Unit Yielding 8.60% Annualised Return

June 2026 Distribution Set at 1.1309 Cents Per Unit by QRI

The Trust Company (RE Services) Limited, acting as the Responsible Entity for the Qualitas Real Estate Income Fund, has declared a June 2026 distribution of 1.1309 cents per unit. This distribution aligns with the fund’s ongoing objective to provide monthly cash income to unitholders. The announcement was authorised and made public on 1 July 2026.

QRI Manager Pty Ltd, the fund’s manager, confirmed these figures in the update. The stated annualised return of 8.60% represents the yield if the June 2026 distribution is maintained consistently over a full year. This standard calculation method for monthly distributions does not guarantee future payment levels. The fund’s goal remains to pay monthly cash income, but this is not assured.

Calculating the 8.60% Annualised Return Based on $1.60 Net Tangible Assets Per Unit

The 8.60% annualised distribution return is derived by dividing the June 2026 distribution of 1.1309 cents per unit by the forecast net tangible assets (NTA) per unit of $1.60 as at 30 June 2026. This NTA figure is a forecast and subject to adjustment following final valuations and accounting processes. Investors should note that the actual NTA may vary slightly upon finalisation.

For investors prioritising income, the ratio of distribution to NTA per unit is a crucial indicator of how effectively the fund converts returns from its credit portfolio into income. At 8.60% annualised, QRI’s distribution yield may be compared with other fixed income and credit-focused investments in the Australian market. However, past distributions are not a reliable predictor of future payments, and investors should consider their personal financial circumstances before investing.

QRI’s Investment Approach: Australian Real Estate Loans Secured by First and Second Mortgages

Qualitas Real Estate Income Fund invests in a portfolio of real estate loans predominantly secured by first and second mortgages on Australian properties. This mortgage-backed credit strategy underpins the fund’s income generation, with loan interest payments forming the basis of monthly distributions to unitholders. The fund aims to preserve capital while generating income, positioning itself defensively within the real estate investment landscape.

The mix of first and second mortgage securities creates a layered risk profile: first mortgages generally provide stronger security in borrower default scenarios, while second mortgages may offer higher yields in exchange for subordinated claims. This balanced exposure is designed to optimize income generation alongside capital preservation, as outlined in the fund’s investment mandate. Detailed portfolio composition and loan book activity will be disclosed in the upcoming QRI June 2026 performance report.

Qualitas Group’s $10.9 Billion Funds Under Management Supports QRI’s Management

QRI Manager Pty Ltd, the fund’s manager, is wholly owned by Qualitas Group, whose listed entity Qualitas Limited trades on the ASX under ticker QAL. As of 31 December 2025, the group reported approximately $10.9 billion in committed funds under management, underscoring its stature as a leading Australian alternative real estate investment manager. Qualitas’s platform covers real estate private credit, opportunistic real estate private equity, income-producing commercial real estate, and build-to-rent residential sectors.

According to the update, Qualitas has invested through various market cycles for 18 years, financing assets valued at over $40 billion across all real estate sectors as of 31 December 2025. This institutional experience provides important context for QRI unitholders evaluating the manager’s capacity to source, underwrite, and oversee real estate credit investments. Access to Qualitas’s extensive origination network and deal flow is a significant advantage that smaller or independent credit managers may lack.

The Trust Company’s Role as Responsible Entity Within the Perpetual Group

The Trust Company (RE Services) Limited acts as the Responsible Entity (RE) for QRI, holding an Australian Financial Services Licence (AFSL 235150). It is a wholly owned member of the Perpetual Group, a well-established Australian financial services organisation with over 135 years of operation and an ASX listing exceeding 55 years. The RE oversees compliance with the fund’s constitution, the Corporations Act, and unitholder interests.

The separation of the Responsible Entity function from investment management — with QRI Manager Pty Ltd as manager and The Trust Company as RE — is standard governance for Australian listed managed investment schemes. This structure adds a layer of oversight, as the RE is legally accountable for the fund’s operation and distinct from the investment decision-maker. Unitholders can contact QRI Manager Pty Ltd for investor inquiries or access unit registry services via MUFG Corporate Markets (AU) Limited.

Insights Expected from the QRI June 2026 Performance Report

The company update advises investors to consult the QRI June 2026 performance report for comprehensive information on fund performance and investment activities during the period. This report is separate from the distribution announcement. Investors seeking detailed data on loan book composition, credit exposures, loan-to-value ratios, arrears, or market commentary will need to review that report once released.

The performance report typically provides the primary qualitative and quantitative disclosures for listed credit funds like QRI, supplementing the distribution notice with context on income generation. Analysts, investors, and advisers evaluating QRI’s distributions alongside its credit risk and portfolio profile may find the June 2026 report more substantive. No specific release date for the report was provided in the update.

Evaluating QRI’s Distribution Against Income and Capital Preservation Goals

Qualitas Real Estate Income Fund’s dual objectives are to deliver monthly income and preserve capital. The June 2026 distribution of 1.1309 cents per unit, representing an 8.60% annualised yield based on forecast NTA, reflects the income component of this mandate. Capital preservation can be partially assessed by monitoring NTA per unit over time — with the forecast $1.60 NTA as of 30 June 2026 serving as one reference point.

Investors should recognize that neither income nor capital preservation objectives are guaranteed. The fund’s investments in real estate loans, including second mortgage positions, carry credit risk. Loan portfolio values may be impacted by borrower defaults, property value fluctuations, or broader economic conditions. The trust’s Product Disclosure Statement (PDS) and target market determination, available on the QRI website, provide full disclosure of associated risks.

Monthly Distribution Framework and Implications for Income Stability

QRI’s monthly distribution schedule is a key feature for income-focused investors, especially retirees or those managing income portfolios. Monthly payments align with the timing of interest income from the underlying mortgage loan portfolio. This pass-through distribution model is common among Australian listed credit and real estate debt trusts.

The consistency and level of monthly distributions serve as indicators of portfolio health and income capacity. Stable or increasing distributions may signal portfolio performance meeting or exceeding expectations, while declines could raise concerns about credit quality, loan prepayments, or capital deployment. The update did not provide forward guidance on future distributions, and investors should not assume the June 2026 rate will persist.

Accessing QRI’s Product Disclosure Statement and Fund Details

Investors seeking further details on QRI, including the Product Disclosure Statement, target market determination, and historical performance, can visit the official website at qualitas.com.au/QRI. General enquiries may be directed to QRI Manager Pty Ltd by phone at +61 3 9612 3939 or email at [email protected]. Unit registry services are offered by MUFG Corporate Markets (AU) Limited through the investor portal at au.investorcentre.mpms.mufg.com.

Existing unitholders should contact the unit registry for distribution payments, unitholder records, and tax statements. Since distributions are monthly, maintaining up-to-date banking and contact information with the registry is essential to avoid payment delays. The update did not specify the payment date for the June 2026 distribution; unitholders may verify timing via the registry or fund website.

Risks and Legal Disclosures Highlighted in the Distribution Announcement

The company update includes standard legal disclaimers advising that the information is general and not financial, tax, or legal advice. It does not consider individual circumstances and is not an offer or invitation to purchase units. Investors are encouraged to seek advice from licensed financial advisers before making investment decisions.

The update also states that while care has been taken to ensure accuracy, The Trust Company (RE Services) Limited, QRI Manager Pty Ltd, Qualitas Securities Pty Ltd, and related parties disclaim any liability regarding the communication. The reminder that past performance is not indicative of future results is especially pertinent given the monthly distribution context. No immediate share price reaction to the distribution announcement was evident from public sources.