Supermarket Income Reit Plc · LSE:SUPR
Supermarket Income Reit — Merger or Acquisition (March 2025)
12 slides from Supermarket Income Reit's merger presentation, March 2025
Slide 1: SUPR Internalisation Investor Presentation
SUPR INTERNALISATION SUPR Primary 1 Investor Presentation #405268 MARCH 2025 INVESTING IN THE FUTURE OF GROCERY
Slide 2: Transaction summary
Transaction summary Board has reached agreement with Atrato to internalise its management function for £19.7m(1) Continuation of ongoing strategic initiatives SUPR has reached scale and maturity for internalised structure Highest return capital allocation option delivering significant cost savings o
Slide 3: Progressing our strategic initiatives
Progressing our strategic initiatives Internalisation is the culmination of that Cost reduction strategy Recycle low yielding Tesco, Newmarket sold at 5.2% NIY(1) assets Lease extensions materially above MSCI Prove affordable rents and valuer ERVs In progress, with capital allocation Introduce JV ca
Slide 4: Internalisation delivers significant benefits for SUPR
Internalisation delivers significant benefits for SUPR 1 Highest return capital allocation option Significant cost savings of at least £4 million per annum, 2 equivalent to a c.5 year payback period 3 New EPRA cost ratio target < 9%, one of the lowest in the sector Enhancing the alignment between th
Slide 5: Highest return capital allocation option
Highest return capital allocation option 19% 9% 9% Internalisation Buyback Unlevered IRR yield yield for acquisitions Internalisation is the most accretive capital allocation option Based off £20.8m of deployment. Internalisation assumes saving of £4m and 3.1% transaction cost. Buyback assumes 71p s
Slide 6: Delivering cost savings of at least £4m per annum
Delivering cost savings of at least £4m per annum FY24 adjusted for Pro-forma 12 Units: £000s Dec-24 IA fee Notes month run rate (3) change (1) Investment adviser fees 7,786 - Market cap based fee (2) Transferred management team, Salaries, social security costs - 4,200 allows for 50% vesting of LTIP
Slide 7: Highly experienced Management Team and Board
Highly experienced Management Team and Board Management Team Board of Directors Nick Sapna Rob Abraham Mike Perkins Hewson Shah CEO CFO Chair SID • Fund Manager, for 3 years, • Finance Director, Jon Vince with Atrato for 6 years, Supermarkets, for 1 year Austen Prior helping grow SUPR’s • Previously
Slide 8: Transitional services to be provided by Atrato
Transitional services to be provided by Atrato Ensuring continuity of business ESG Atrato Head of Sustainability to provide support for nine months IT separation to be delivered (Atrato IT has recent transition experience IT following processes with ROOF and SOHO), with nine months support thereafte
Slide 9: Indicative Transaction Timeline
Indicative Transaction Timeline EXPECTED TIMETABLE OF PRINCIPAL EVENTS (1) 4 March 2025 Announce Internalisation and Publication of Circular 2 p.m. on 18 March 2025 Latest time and date for receipt of proxy appointments 2 p.m. on 20 March 2025 General Meeting 25 March 2025 (2) Expected completion da
Slide 10: Key strategic objectives
Key strategic objectives Focus on enhancing earnings and dividend cover Deliver internalisation and pursue change of listing Review capital allocation options Progress JV opportunities and accretive acquisitions Target 100% unsecured debt financing and extend debt maturity EPRA cost ratio target of
Slide 11: Important Information
Important Information THIS PRESENTATION IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED, REDISTRIBUTED, COPIED OR PUBLISHED (IN WHOLE OR IN PART) TO ANY OTHER PERSON FOR ANY PURPOSE. ANY RECIPIENT OF THIS PRESENTATION AGREES TO KEEP PERMANE
Slide 12: Important Information
Important Information The information contained in this presentation has not been independently verified by the Company or any other person, and some of the information is still in draft form. No representation, warranty or undertaking, express or implied, is made by the Company or any of its advise
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