Supermarket Income REIT (SUPR) AGM 2024 Presentation summary

Key financial metrics and portfolio overview

• Portfolio valued at £1.8bn with passing rent of £116m and dividend cover of 1.01x as of November 2024.

• Loan to value stands at 39%, average debt cost is 4.0%, and 93% of debt is fixed or hedged.

• Portfolio comprises 74 supermarkets, with 93% omnichannel stores and 78% exposure to Tesco and Sainsbury's.

• Net initial yield is 6.0%, with Tesco and Sainsbury's accounting for 47% and 31% of value, respectively.

• Dividend yield is 8.7%, with a 19.4% discount to NTA and 6.8% implied portfolio NIY.

Operational and strategic performance

• Achieved 100% occupancy and rent collection, with gross to net margin exceeding 99%.

• Management fee to move to market capitalisation, saving £1.9m annually.

• Pursuing earnings accretive acquisitions in the UK and Europe, and exploring capital recycling through asset sales and joint ventures.

• Re-gear opportunities focus on renewing shorter leases to evidence affordable rental levels.

• Expanding investor base via secondary listing on the JSE and UK roadshows.

ESG and sustainability initiatives

• Committed to Net Zero by 2050, with science-based targets for Scope 1, 2, and 3 emissions.

• Launched a biodiversity pilot project and achieved gender equality on the Board.

• 52% of actual electricity consumption data sourced from tenants, up from 23% in FY23.

• £120,000 donated to the Atrato Foundation and over 100 volunteering hours contributed.

• Achieved Living Wage employer accreditation and joined the UN Global Compact.