Sirius Real Estate (SRE) Trading Update summary

Trading performance and rent roll growth

• Achieved a 12.8% year-on-year increase in rent roll, with 6.3% like-for-like growth, marking the eleventh consecutive year above 5% growth.

• Strong organic growth and asset acquisitions drove performance in both Germany and the UK.

• Occupancy improved notably in the second half, supporting a positive valuation movement at group level.

Asset management and acquisitions

• Completed or notarised 11 acquisitions totaling over €250 million, enhancing rent roll and future value creation.

• Acquisition pipeline remains robust, with recent deals in Southampton and Mönchengladbach expected to close early in the new financial year.

• In-house asset management platform enabled balancing rate increases with healthy occupancy.

Financial position and capital management

• Maintains a strong balance sheet, highlighted by a €350 million, seven-year corporate bond at 4.0% and attractive refinancing in Germany at 3.26%.

• Leverage expected to positively impact shareholder returns as valuations stabilize and improve.

• Ongoing focus on prudent capital deployment and efficient financing to support growth.