Sirius Real Estate (SRE) Investor Day 2025 Presentation summary

BizSpace performance and portfolio growth

• Rent roll increased by 89% and EBITDA by 120% since November 2021, with portfolio value up 84%.

• £10m organic rent roll growth and £27m from 13 site acquisitions, reaching a £42m run rate.

• EBITDA margin improved to 58% through efficiency and group optimisation.

• Eight assets disposed at or above book value, £8.5m ahead of Nov 2021 valuations.

• Current reported book value is £480m, with recent acquisitions including Hartlebury (£101.1m), Bedford (£15.25m), and Chalcroft (£40.5m).

Gloucester Vantage Point acquisition and management

• Acquired for £47m, including £6.5m for a solar business with a 10-year government-backed Feed-in Tariff.

• 1.3m sq ft lettable area, 79% occupancy, and substantial car parking.

• Asset management includes self-storage (143 boxes, 5% occupancy) and plans to convert Mews to residential.

• Exploring industrial open storage and other development opportunities.

UK economic outlook

• UK GDP growth has been the highest in the G7, with the economy showing resilience despite negative headlines.

• Household finances remain strong, with net cash-positive status and high savings.

• Business confidence is mixed between large companies and SMEs.

• Limited fiscal headroom and productivity concerns persist, with potential for a productivity downgrade.

• Inflation remains high, but refinancing pressures have eased; short-term yields have pulled back while long-term yields remain elevated.