Slide 1: Enabling extraordinary things: Half year results 2026
Enabling extraordinary things 2026 Half year results 30 July 2026
Slide 2: Half Year 2026 highlights
£53m £26m New rent Development contracted signings Half Year 2026 Positive momentum across industrial and logistics portfolio £11m 5.3% Reversion Like-for-like capture NRI growth Continued execution of data centre strategy Strong financial performance supporting future growth 6.6% (2.5)% Adjusted ea
Slide 3: We create the space that enables extraordinary things to happen
We create the space that enables extraordinary things to happen Positive momentum across Continued execution of Strong financial industrial and logistics data centre strategy performance supporting portfolio future growth opportunity 3
Slide 4: Existing portfolio and development pipeline contributing to £53 million of new headline rent
Existing portfolio and development pipeline contributing to £53 million of new headline rent contracted New contracted headline rent (£m)1 80 70 60 Annualised rental income, £m 50 40 30 20 10 0 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23 1H24 2H24 1H25 2H25 1H26 E
Slide 5: Capturing reversion, maintaining occupancy and retaining customers
Capturing reversion, maintaining occupancy and retaining customers Rent change on review and renewal (%)1 Customer retention rate and occupancy rate (%) UK +44% 100 CE +4% 40 80 +36% +34% 30 +32% +31% 60 Occupancy 20 +23% 94.5% 40 (target: 94-96%) +13% Retention 10 +12% +12% 20 77% +10% +9% +5% 0 0
Slide 6: Delivering strong like-for-like rental growth through active asset management
Delivering strong like-for-like rental growth through active asset management Like for like net rental income growth, (%) 6.7% 6.5% 5.8% 6.0% 5.3% 4.7% 4.9% 4.0% 3.1% 2.6% 2.1% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H26 Current opportunity in the portfolio £101m + £56m = £157m Mark-to-ma
Slide 7: Disciplined capital allocation driving portfolio performance
Disciplined capital allocation driving portfolio performance Disposals Acquisitions Selective sales of assets and Attractive land acquisitions land to crystallise value and supporting future fund investment development £308m1 £37m Development UK big box JV 765,000 sq m under SEGRO expected to constr
Slide 8: Development completions expected to increase in the second half
Development completions expected to increase in the second half Development completions H1 2026 completions • 116,200 sq m of space1 60 • £12m headline rent2 • 58% leased H2 50 estimate • 6.5% development yield • All BREEAM ‘Excellent’ or better3 New headline rent when fully leased, £m 40 30 20 10 0
Slide 9: Industrial and logistics development pipeline with £441m of potential rent
Industrial and logistics development pipeline with £441m of potential rent Current and near-term pipeline1 Future pipeline £90m 7.4% 75% £223m £128m 7-8% Potential rent Expected Associated with Potential rent Potential rent Attractive development yield pre-lets on owned land on optioned land develop
Slide 10: We create the space that enables extraordinary things to happen
We create the space that enables extraordinary things to happen Positive momentum across Continued execution of Strong financial industrial and logistics data centre strategy performance supporting portfolio future growth opportunity 10
Slide 11: 3.0GVA power bank with 1.4GVA of near to mid-term data centre opportunity
3.0GVA power bank with 1.4GVA of near to mid-term data centre opportunity in key Availability Zones Near to mid-term opportunities • 12 sites currently assumed to be fully fitted developments • 2 powered shells assumed and 4 powered land sales SEGRO land Established AZs (FLAP-D) Emerging AZs Increas
Slide 12: Executing our data centre strategy in H1 2026
Executing our data centre strategy in H1 2026 – Signed a powered shell data centre pre-let on the Slough Trading Estate – Obtained planning approval for Premier Park DC JV1 in West London, active pre-let discussions underway – Formed a second fully fitted data centre joint venture with Pure DC – Add
Slide 13: We create the space that enables extraordinary things to happen
We create the space that enables extraordinary things to happen Positive momentum across Continued execution of Strong financial industrial and logistics data centre strategy performance supporting portfolio future growth opportunity 13
Slide 14: Strong financial performance
Strong financial performance £268m Adjusted profit before tax 19.3p Adjusted earnings per share1 10.14p Dividend per share2 +6.3% +6.6% +4.5% £19bn Portfolio valuation (at share) 902p EPRA NTA per share4 31% Loan to value5 (1.2)%3 (2.5)% +0.6 ppt 1. Average number of shares was 1,352.8 million for t
Slide 15: Earnings driven by strong 5.3% like-for-like NRI growth
Earnings driven by strong 5.3% like-for-like NRI growth Adjusted profit (proportionally consolidated) Net Rental Income growth: +£23m +£3m (£1m) Total cost ratio (excl. share +£2m £0m (£9m) based payments): +£5m +£16m – 17.4% (H1 2025: 18.4%)3 Net finance costs: £261m – £11m higher, reflecting highe
Slide 16: Modest portfolio value decline driven by yield movements
Modest portfolio value decline driven by yield movements Group £19bn (1.2)% 5.6% (+10bps) 1.8% Portfolio value1 Valuation change2 Yield3 ERV growth5 UK £12bn (2.0)% 5.6% (+20bps) 2.3% UK portfolio value1 Valuation change2,4 Yield3 ERV growth5 CE £7bn 0.1% 5.7% (+10bps) 1.1% Continental Europe Valuat
Slide 17: Balance sheet remains strong
Balance sheet remains strong 31% 8.3x 6.3 years Loan to value1,2 Net debt:EBITDA1 Average debt maturity3 2.8% Average cost of debt3 £1.5bn Cash and undrawn facilities3,4 A- senior unsecured / BBB+ Issuer Rating 1. SEGRO only (excluding joint ventures). 2. 32% including joint ventures. 3. Including s
Slide 18: Over £1bn of incremental income opportunity embedded in existing portfolio and pipelines
Over £1bn of incremental income opportunity embedded in our existing portfolio and development pipelines Annualised gross cash passing rent1, £ million 30 June 2026 passing rent: £762m £1.1bn « Further ERV £224m £441m £464m growth from existing portfolio industrial and logistics development data cen
Slide 19: We create the space that enables extraordinary things to happen
We create the space that enables extraordinary things to happen Positive momentum across Continued execution of Strong financial industrial and logistics data centre strategy performance supporting portfolio future growth opportunity 19
Slide 20: Q&A
SEGR Q&A 2026 Half year results
Slide 21: Appendix
Appendix Supplementary information 21
Slide 22: Adjusted income statement
Adjusted income statement Half year to 30 June 2026 Half year to 30 June 2025 Adjusted income statement £m £m Change Gross rental income 326 306 Property operating expenses (46) (42) Net rental income 280 264 6.1 % Joint venture management fee income 15 12 Other income 2 2 Administrative expenses (3
Slide 23: Adjusted income statement (JVs proportionally consolidated)
Adjusted income statement (JVs proportionally consolidated) Half year to 30 June 2026 Half year to 30 June 2025 Group JVs Total Group JVs Total £m £m £m £m £m £m Gross rental income 326 75 401 306 68 374 Property operating expenses (46) (4) (50) (42) (4) (46) Net rental income 280 71 351 264 64 328
Slide 24: Pro forma H1 2026 accounting net rental income
Pro forma H1 2026 accounting net rental income H1 2026 Pro forma H1 2026 net rental Group JVs Total £m £m £m income assuming disposals, acquisitions and let developments June 2026 net rental income 280 71 351 completed as at 1 January 2026 Incremental impact of: Disposals since 1 Jan 2026 (4) — (4)
Slide 25: Portfolio metrics by region
Portfolio metrics by region Property yield (%)1 Capital ERV growth (%)2 growth (%)3 Group 5.6 (1.2) 1.8 UK 5.6 UK urban: 1.7% (2.0) 2.3 UK big box: 5.2% Continental Europe 5.7 0.1 CE urban: 1.4% 1.1 CE big box: 0.9% Germany 5.3 0.4 1.5 Netherlands 5.5 0.4 0.1 France 5.6 (1.3) 1.3 Italy 5.8 1.3 1.6 S
Slide 26: Total cost ratio (proportionally consolidated)
Total cost ratio (proportionally consolidated) H1 2026 H1 2025 Incl. joint ventures at share £m £m Gross rental income (less reimbursed costs) 399 372 Property operating expenses 46 42 Administration expenses 34 33 JV operating and administrative expenses 11 11 JV management fees and other costs rec
Slide 27: Balance sheet (JVs proportionally consolidated)
Balance sheet (JVs proportionally consolidated) 30 June 2026 31 December 2025 Group JVs Total Group JVs Total £m £m £m £m £m £m Investment properties 15,734 3,044 18,778 15,998 3,042 19,040 Trading properties 1 — 1 1 — 1 Total properties 15,735 3,044 18,779 15,999 3,042 19,041 Investment in joint ve
Slide 28: EPRA NTA
907 907 EPRA NTA Components of EPRA NTA change (pence), 31 December 2025 to 30 June 2026 +19 (19) (21) (1) (1) Standing assets: (20p) Land & Development: +1p 925 902 31 December 2025 H1 2026 EPS Realised and unrealised Dividends Exchange rate Other (incl tax) 30 June 2026 property loss 28
Slide 29: EPRA performance measures
EPRA performance measures Half year to 30 June 2026 Half year to 30 June 2025 Year to 31 December 2025 £m Pence per share £m Pence per share £m Pence per share EPRA earnings 261 19.3 245 18.1 495 36.6 EPRA NTA 12,220 902 12,330 910 12,537 925 EPRA NRV 13,486 995 13,585 1,003 13,827 1,020 EPRA NDV 12
Slide 30: EPRA capital expenditure analysis
EPRA capital expenditure analysis Six months to 30 June 2026 Six months to 30 June 2025 More than 64% of Completed Group JVs Total Group JVs Total £m £m £m £m £m £m properties capex was for major refurbishment, infrastructure Acquisitions 30 7 37 15 228 243 and fit-out costs prior to Development 144
Slide 31: Diverse, long duration debt profile
Diverse, long duration debt profile Debt maturity profile (as at 30 June 2026) 1,000 800 Debt profile, £m 600 400 200 0 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 SEGRO bonds & US private placement notes SEGRO bank debt JV debt at share Upcoming 2026 debt ma
Slide 32: Euro currency exposure and hedging
Euro currency exposure and hedging Balance sheet, £m (30 June 2026) – €1.16:£1 as at 30 June 2026 6,000 – € assets 75% hedged by € liabilities 5,000 – €1.8bn (£1.6bn) of residual exposure – 13% of Group NAV Assets 75% – Illustrative NAV sensitivity vs €1.16: 4,000 hedged – +5% (€1.22) = -£74m (-5 pe
Slide 33: Look-through loan-to-value ratio and cost of debt
Look-through loan-to-value ratio and cost of debt 30 June 2026 Weighted average Hedging £m interest rate, % cover, % excluding including commitment fees Fixed Cover including commitment fees and non-cash interest active caps and non-cash interest Group gross borrowings1 5,057 2.8 3.0 81 % Group cash
Slide 34: Net debt: EBITDA (SEGRO Group)
Net debt: EBITDA (SEGRO Group) 12 months ending 12 months ending 12 months ending 30 June 2026 30 June 2025 31 December 2025 £m £m £m Gross rental income 657 615 637 Property operating expenses (98) (91) (94) Administrative expenses (74) (74) (73) Other fee income 4 2 4 JV management fee income 28 2
Slide 35: High quality, diverse and growing customer base
High quality, diverse and growing customer base1 Transport and Retail Manufacturing Post and Wholesale Data centre Services and TMT Other logistics parcel delivery and retail providers utilities Customers distribution 25% 17% 15% 10% 9% 7% 6% 4% 7% 1,358 Top 20 customers 32% of total group headline
Slide 36: £441m of potential rental income from logistics and industrial development
£441m of potential rental income from logistics and industrial development Potential gross Estimated cost SEGRO land bank (30 June 2026) Development Development to complete Proportion Expected rent (£m) pipeline delivery Midlands Amsterdam Warsaw pre-let (sq m) yield4 Berlin Łódź Area (£m) Dortmund
Slide 37: Data centre power bank phasing
Data centre power bank phasing 1 Available to lease now 3 Available to lease by 2033 Location # sites MVA FLAP-D Power on Model Planning status Location # sites MVA FLAP-D Power on Model Planning status London (STE)1 1 50 ☑ Now PS Under Construction London 2 200 ☑ - - In progress London 1 70 ☑ 2028
Slide 38: Data centre value accretion occurs throughout the development process
Data centre value accretion occurs throughout the development process Indicative value creation journey of fully fitted data centre from non-data centre land: Land, planning and power value-add Construction & fit-out (2-4 years) Stabilisation / potential for exit Average value creation Pre-let with
Slide 39: Positioning SEGRO to deliver on its purpose
Positioning SEGRO to deliver on its purpose Championing Investing in our local Nurturing Low-carbon growth communities and talent environments SEGRO recognises that the world faces a climate SEGRO is an integral part of the communities SEGRO’s people are vital to and inseparable Context emergency, a
Slide 40: SEGRO European Logistics Partnership (SELP) headline figures
SEGRO European Logistics Partnership (SELP) headline figures Assets under Management (as at 30 June 2026) €6.8bn +5.7% €2.5 Land and assets Net true equivalent yield €2.0bn €2 -0.1% +0.9% Assets under management, €bn €1.6bn Capital value change ERV growth €1.5 €1.1bn €1 €0.8bn €0.7bn €367m €414m €0.
Slide 41: Forward-looking statements and Disclaimer
Forward-looking statements and Disclaimer This document has been prepared by SEGRO plc (SEGRO) solely for use at the presentation of SEGRO’s results announcement in respect of the period ended 30 June 2026 (the Results Announcement). For the purposes of this disclaimer, ‘Presentation’ shall mean thi