NewRiver Reit (NRR) investor relations material

Executive summary

• Achieved strong operational performance with increased leasing activity, rising occupancy, and robust demand in core markets, supported by resilient consumer spending.

• Disciplined capital recycling improved portfolio quality and financial strength.

• Disposed of non-core assets, including The Marlowes, Sprucefield Retail Park, and a shopping center in Hemel Hempstead, for GBP 12.6 million.

• Exchanged on the disposal of Cuckoo Bridge Retail Park in Dumfries for GBP 26.5 million post-period, following a value-enhancing business plan.

• Entering FY27 with momentum and confidence in further earnings growth and dividend coverage.

Financial highlights

• Completed 234,500 sq ft of new lettings and renewals in Q3, securing £2.1 million in annualised income across 98 transactions.

• Year-to-date leasing reached 650,800 sq ft, with long-term transactions +8.2% vs ERV and +31.1% vs prior rent.

• Occupancy increased to 96.1% from 95.3% at 30 September 2025; retailer retention rate at 91%.

• Grocery sales up 6.2% year-over-year; non-food discount up 7.2%; F&B up 4%; health and beauty up 2.4%; value fashion down 1.1%.

• Snozone delivered Q3 EBITDA of £2.0 million vs loss of £1.6 million in H1; year-to-date EBITDA £0.4 million, ahead of prior year and budget.

Outlook and guidance

• Market conditions are becoming more supportive, and the portfolio is in its best shape since before the pandemic.

• Confident in delivering further earnings growth and maintaining a well-covered dividend into FY27.

• On target to complete approximately £40 million of disposals in H2 in line with book values.