Slide 1: Full year results to 31 March 2022
PELICAL Full year results to 31 March 2022 aw
Slide 2: Agenda
HELICAL Agenda Results Highlights and 3 Market Comment Gerald Kaye Financials 14 Tim Murphy Sustainability and Portfolio 22 Highlights Matthew Bonning-Snook Summary 30 Gerald Kaye Q&A 33 Appendices 34 Additional Analysis One Bartholomew
Slide 3: Results Highlights and Market Comment
Results Highlights and Market Comment GERALD KAYE
Slide 4: Results highlights
HELICAL @helicalplc | Helical pic | helical.co.uk Results highlights PROFIT AFTER TAX 8.9m (2021: £17.9m) EPRA NTA PER SHARE EPRA EARNINGS EI 5/72p . (31 March 2021: 533P) +7.3% (2021: LOSS OF 1.8P) PORTFOLIO NET NET RENTAL INCOME VALUATION/SALE GAIN 517m £31.20 (2021: £23.9m) (2021: £25.0m) TOTAL D
Slide 5: Key achievements
HELICAL @helicalpic | Helical plc | helical.co.uk Key achievements e The acquisition of 100 New Bridge Street e Elected to become a REIT e Valuation increase of 7.0% across the portfolio on like-for-like basis e Published ‘Net Zero Carbon Pathway’ e The sale of Trinity and contracts exchanged for th
Slide 6: Market comment
HELICAL @helicalplc | Helical pic | helical.co.uk Market comment Activity in Central London increasing but still not back to pre-pandemic levels Central London 01 take up 2.6m sq ft lower than 10 year average of 3.0m sq ft but in line with 10 year average for first quarters (cere) Under offer at 3.9
Slide 7: The case for London offices
HELICAL @helicalplc | Helical plc | helical.co.uk 7 The case for London offices “The office remains the centre of the work ecosystem to reinforce culture, drive collaboration and innovation, enable professional growth and bring the best brand experience to clients and employees and we believe that i
Slide 8: Helical's response
HELICAL @helicalplc | Helical plc | helical.co.uk 8 Helical’s response e Central London focused e Island or edge of block locations and good public realm e Larger floor plates as 2,500-5,000 sq ft market overcrowded © Carbon friendly new build - retain existing frame and core — Saves carbon — Less p
Slide 9: New acquisition- New Bridge Street
HELICAL @helicalplc | Helical plc | helical.co.uk New acquisition- 100 New Bridge Street e Acquired off market for gross consideration of c.£160m e Existing 167,026 sq ft office building let to Baker McKenzie until December 2023 Planning application for a carbon friendly new building, retaining the
Slide 10: Driving value — Existing portfolio
HELICAL @helicalplc | Helical plc | helical.co.uk Driving value — Existing portfolio Boer + + se . Sl © Multi-let portfolio - maximise asset management and reversion Bl urcer development ° Building management to the highest standard and buildings maintained in top [Hl To be developed! refurbished co
Slide 11: Driving value — Lettings
HELICAL @helicalplc | Helical plc | helical.co.uk n PEE totatareaiet at 313.2022 Driving value — Lettings —_ e 64,118 sq ft in 12 units let in the period, delivering contracted rent of £3.0m, 1.8% above ERV (Helical’s share) 4,944 sq ft let since 31 March 2022, with a further 11,452 sq ft under offe
Slide 12: Driving value — Capturing the reversion
HELICAL @helicalplc | Helical plc | helical.co.uk Driving value — Capturing the reversion 80 70 60 50 30 20 10 £36.4m Passing rent £46.4m Contracted rent uplift £49.3m Available space £65.5m Development pipeline = New acquisitions m Other ™London £67.1m Reversionary rent £67.1m ERV Completed portfol
Slide 13: • • • • • • • • • • • • • •
• • • • • • • • • • • • • • • • • • • • • • • • •
Slide 14: Financials
Financials TIM MURPHY
Slide 15: Helical - Financial KPIs
HELICAL @helicalplc | Helical pic | helical.co.uk Helical- Financial KPls 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 9.3% 2020 EPRA Total Accounting Return : 2021 10.2% 2022 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Growth in EPRA Net Tangible Assets per Share 2020 73% 2022 3 Year Compound Growth 7.8%
Slide 16: EPRA and IFRS profit
HELICAL @helicalplc | Helical plc | helical.co.uk 16 EPRA and IFRS profit sotto Increase of 10.4% to 1145p (2021: 10.10p) 1000 £16.0m £88.9m 80.0 £729m £27m £18.0m 70.0 60.0 £312m 30.0 (Ci7.im) 100 (€13.8m) (0.5m) Net Rents Administrator IFRS profit before Tax tax Not finance cost Tax/Other EPRA pro
Slide 17: EPRA NTA per share movement
600 590 10.9p 41.5p 580 572.3p 570 (4.8p) (10.3p) (3.5p) 560 550 5.2p 540 533.3p 530 520 510 500 490 480 470 460 450
Slide 18: Loan to value and gearing
HELICAL @helicalplc | Helical plc | helical.co.uk 18 Loan to value and gearing £1,400 70 1240 1205 Portfolio value £1,200 60 1,108 4,080 £1,000 50 4 LTV £800 40 347 626, £600 3 Net Debt £400 375 20 28. £200 10 £0 Oo 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Pro forma Pro forma Sharehold
Slide 19: Debt summary at March 2022
HELICAL @helicalplc | Helical plc | helical.co.uk 19 Debt SUI Y \I Y ary £m at 31 March 2022 Our £80m Aviva and £50m Wells Fargo facilities were repaid in the year, with The Loom and Kaleidoscope being 450 refinanced into our £400m RCF e 100 New Bridge Street was refinanced into our 400m RCF 400 fac
Slide 20: Interest rate hedging
HELICAL @helicalplc | Helical plc | helical.co.uk 20 Interest rate hedging cn Interest Amount Maturity rate In Joint Ventures - £69.9m Jul24 *4.95% 500 Total Fixed Rate Interest Rate Swaps £50.0m Apr 24 3.18% £50.0m Aug 24 2.62% 400 £50.0m Aug 24 2.60% £50.0m Jun26 3.51% £50.0m Jul26 2.60% 300 £50.0
Slide 21: Summary of financial position
HELICAL @helicalplc | Helical pic | helical.co.uk 21 Summary of financial position NET ASSET VALUE NET DEBT LOAN TO VALUE (2021: £608.2M) (31 March 2021: £193.9M) (31 March 2021: 22.6%) NAV GEARING CASH AND UNDRAWN FACILITIES (31 MARCH 2021: 31.9%) (31 March 2021: £423.0M) WEIGHTED AVERAGE CosT HEDG
Slide 22: Sustainability and Portfolio Highlights
Sustainability and Portfolio Highlights MATTHEW BONNING-SNOOK
Slide 23: Sustainability
HELICAL @helicalplc | Helical pic | helical.co.uk 23 Sustainability a | J Launched in June 2020 7, Sets out Helical’s long term vision and strategy ‘Helical’$ Net Zerd' Carbon Pathway Fe Launched in April 2021 A guide to aid Helical's professional teams as they collaborate on new development schemes
Slide 24: Sustainability benchmarks
HELICAL @helicalplc | Helical pic | helical.co.uk 24 Sustainability benchmarks 31 March 2022 31 March 2021 wr % s 85/7100 76/100 GReEsS B Gold Silver 3.9/5 3.9/5 96t Percentile 95" Percentile MSCI & AAA AAA Wepp C B
Slide 25: Portfolio energy performance & BREEAM certification
HELICAL @helicalplc | Helical plc | helical.co.uk 25 The Power 33 The House Charterhouse Loom Street Portfolio energy performance & BREEAM certification by value e 99% EPC A or B completed portfolio by value ¢ 85% BREEAM Outstanding or Excellent by value EPC A and 2018 BREEAM Outstanding (on track)
Slide 26: Asset management initiatives (1)
HELICAL @helicalplc | Helical plc | helical.co.uk 26 Asset management initiatives (1) The Bower, EC1 The Tower 171,432 sq ft (17 floors) | The Warehouse 122,858 sq ft (9 floors) The Studio 18,283 sq ft (4 floors) e Allrent reviews now completed achieving 13.2% uplift ¢ 17th floor let to Verkada duri
Slide 27: Asset management initiatives (2)
HELICAL @helicalplc | Helical pic | helical.co.uk 27 Asset management initiatives (2) . The Loom, EC1 108,600 sq ft (8 floors) e Three new lettings totaling 8,623 sq ft at an average rent of £53 psf ¢ 21,803 sq ft available across 9 units e Undertaking asset management to capture reversionary potent
Slide 28: The JJ Mack Building, Charterhouse Street, EC1
HELICAL @helicalplc | Helical pic | helical.co.uk 28 The JJ Mack Building 33 Charterhouse Street, EC1 . . . Completion anticipated in September 2022 Currently week 92 of 110 on site, the structure is complete and internal commissioning works are continuing Prominent corner site opposite future Museu
Slide 29: The JJ Mack Building - sustainability in action
HELICAL @helicalpic | Helical plc | helical.co.uk 29 The JJ Mack Building 33 Charterhouse Street, EC1 An example of sustainability in action + ‘Green’ development facility signed with Allianz in July 2020: * Targeting a 40% embodied carbon reduction against current RIBA benchmark 840kg CO?/ m? vs 14
Slide 30: Summary
Summary GERALD KAYE
Slide 31: Summary
HELICAL @helicalplc | Helical plc | helical.co.uk 31 Summary e Asset manage existing portfolio to optimise value and sustainability Recycle capital - sales of Trinity and 55 Batholomew Complete and let The JJ Mack Building at 33 Charterhouse Street Maximise opportunity at 100 New Bridge Street e New
Slide 32: The Bower video
PELICAL The Bower Verkada is Growing Globally — See the London Office - YouTube
Slide 33: Q&A
O&A
Slide 34: Hi
Hi
Slide 35: Appendices
HELICAL Appendices Investing with Helical Portfolio Further financial analysis
Slide 36: Investing with Helical
HELICAL @helicalple | Helical pic | helical.co.uk 36 Investing with Helical We create sustainable and inspiring workplaces which are technologically smart, rich in amenities and promote employee wellbeing. Applying this philosophy, we seek to maximise Shareholder returns through delivering income gr
Slide 37: Barts Square, EC1
HELICAL @helicalpic | Helical plc | helical.co.uk 37 Barts Square, EC1 Phase 1 — Residential/Retail e 144 apartments and 3,194 sq ft retail ¢ Allapartments have now been sold e¢ Stem + Glory and Halfcup are open and trading from the 2 retail units e Winner of Good Neighbour Award at the prestigious
Slide 38: The Warehouse and The Studio, The Bower, EC1
HELICAL @helicalplc | Helical plc | helical.co.uk The Warehouse and The Studio, The Bower, EC1 e 141,141 sq ft offices and 10,298 sq ft restaurants ° Allrent reviews now completed achieving 13.2% uplift ° Office tenants: - Viacom - Stripe — Farfetch - Allegis — VMware — Dentsu ° Studio retail unit r
Slide 39: The Tower, The Bower, EC1
HELICAL @helicalple | Helical pic | helical.co.uk 39 The Tower, The Bower, EC1 * 171,432 sq ft offices: Verkada 11,327sqft 17 floor Incubeta 11,306 sqft 16 floor Snowflake 9,568 sq ft 14 floor OpenPayd 10,046 sqft 13 floor Infosys 30,907 sqft 10-11, 15 floor Farfetch 29,671sqft 7-9 floor WeWork 59,0
Slide 40: 25 Charterhouse Square, EC1
HELICAL 25 Charterhouse Square, ECT e 42,921 sq ft over ground plus six floors The recently refurbished 1st floor and one of the two ground floor units have been let to Entain to establish a global innovation hub ° Final ground floor unit of 1,880 sq ft under offer e 155 year leasehold interest with
Slide 41: The Loom, E1
HELICAL @helicalplc | Helical pic | helical.co.uk 41 The Loom, E1 © 108,600 sq ft listed office former Victorian wool warehouse ° 80% let © 21,803 sq ft available across 9 units © 95% of all units have now been extensively refurbished e Itis expected that the remaining unrefurbished units will be up
Slide 42: Impact of market movements on our values
HELICAL @helicalplc | Helical plc | helical.co.uk 42 Impact of market movements on our values Total see-through Total see-through percentage chang change in portfolio Equivalent Yield 4.63% +50 bps (13.1%) (141.8) +25 bps (6.9%) (74.6) ~ 25 bps 77% 83.5 ~ 50 bps 16.4% 77.3 ERV £71.58 +5.0% 5.7% 61.3
Slide 43: Portfolio — Summary
HELICAL @helicalplc | Helical plc | helical.co.uk 43 Portfolio — Summary New lettings Rent reviews settled ° 54,118 sq ft to 12 tenants © £1.0m uplift (Helical’s share) at rent reviews e 1.8% above 31 March 2021 ERV * —£3.0m (Helical’s share) contracted rent Area The Tower, The Bower, EC1 11,327 963
Slide 44: EPRA Performance measures
HELICAL @helicalplc | Helical plc | helical.co.uk 44 EPRA Performance measures At At 31 March 2022 31 March 2021 EPRA net tangible assets £713.3m £658.7m EPRA net reinstatement value per share 602p 560p EPRA net tangible assets per share 572p 533p EPRA net disposal value per share 55 ip 485p EPRA ne
Slide 45: Financial highlights
HELICAL @helicalplc | Helical plc | helical.co.uk 45 Financial highlights See-through income statement March 2022 March 2021 Total property return ~Net rental income £31.2m £25.0m - Development property profits/(losses) £6.6m (£0.4m) - Gain on revaluation of investment properties £51.8m £25.8m - Los
Slide 46: See-through Balance Sheet March 2022
HELICAL @helicalplc | Helical plc | helical.co.uk 46 See-through Balance Sheet 31 March 2022 Joint Veni Total £m NAV per share 31 Marc Total Investment properties 961.5 135.8 1,097.3 839.4 Land and development stock (fair value) 2.4 8.3 10.7 17.6 Property portfolio 963.9 1444 1108.0 857.0 Net debt (
Slide 47: See-through Income Statement March 2022
HELICAL @helicalplc | Helical plc | helical.co.uk 47 See-through Income Statement 31 March 2022 Group Joint Ventures Total £m £m £m Net rental income 314 O04 31.2! Development property profit/(loss) 5.8 0.8 6.6) 36.9 0.9 37.8 Administration expenditure (16.8) (0.3) (17.1) Net finance costs (19.2) (0
Slide 48: Net cash flow movements
HELICAL @helicalplc | Helical plc | helical.co.uk 48 Net cash flow movements March Forecast capital expenditure 1022 m £m Cash generated from 30 operations ° 90.0 Acquisition of investment 80, property (160.0) 7 70.0 Capex (14.1) (16.3) 60.0 Joint ventures O41 29 50.0 Net disposal (costs)/proceeds (
Slide 49: Impact of forecast capital expenditure and capital receipts
HELICAL @helicalplc | Helical plc | helical.co.uk 49 Impact of forecast capital expenditure and capital receipts Forecast Contracted Capex to Sales to Pro format 31March 31March 31March 31March 2022 2023 2023 2023 Portfolio fair value £1,108.0m £14.2m (£42.2m) £1,080.0m Net debt £402.9m £14.2m (£42.
Slide 50: Portfolio metrics (1)
HELICAL @helicalplc | Helical plc | helical.co.uk 50 Portfolio metrics (1) Valuation Fair Vacancy March 2022 Value Capital Value psf Rate WAULT Investment Portfolio em f £ % Years London Offices: - Completed properties 783.9 715 1,289 6.9 6.3 5.4 - Development pipeline 282.3 25.7 1,086 0.0 17 17.2 T
Slide 51: Portfolio metrics (2)
HELICAL @helicalplc | Helical plc | helical.co.uk 51 Portfolio metrics (2) Passing Contracted EPRA ‘Topped True Equivalent Rent Rent Investment Portfolio em em London Offices: - Completed properties 28.5 37.6 41.6 0.1% 42 49 48 - Development pipeline 7.2 73 23.6 0.0% 42 4.2 45 Total London 35.7 44.9
Slide 52: Portfolio metrics (3)
HELICAL @helicalplc | Helical plc | helical.co.uk 52 EPRA Topped Up' Net Portfolio metrics (3) ae = 2016 5.01 2017 470 5.69 2018 4.51 478 wee. 2019 4.17 4.17 7.00 2020 3.89 3.97 2021 4.55 4.47 2022 4.23 4.22 650 True Equivalent Yield London Total 2016 5.62 6.37 foo 2017 5.27 5.85 2018 5.30 5.52 550
Slide 53: Lease expires or tenant break options
HELICAL @helicalplc | Helical plc | helical.co.uk 53 Lease expires or tenant break options Rent Roll (%) 9.5% 25.8% 4.0% 0.8% 10.0% 49.9% Number of Leases 7 28 10 4 18 31 Average Rent per Lease (£) 258,280 427,422 186,003 96,997 256,179 741,267
Slide 54: Rental income and rental reversion
HELICAL @helicalplc | Helical pic | helical.co.uk 54 Rental income and rental reversion NET RENTAL INCOME 50 47.0 £m 45 43.4 40 38.6 298 25 229 24.5 20 s 14.9 6 10 5 0 2010 2011 2012 2013 2014 2015 2016 716 81.0 595 569 454 333 35.2 3aq 364 367 30 254 284 287 285 59 2od a | 0 31March 31March 31March
Slide 55: Investment portfolio key statistics
HELICAL @helicalplc | Helical plc | helical.co.uk 55 Investment portfolio key statistics See-through Total Portfolio Contracted Rent gm Rent lost at break/expiry (2.6) Rent reviews and uplifts on lease renewals 1.0 New lettings - London 24 New lettings - Manchester 0.6 Total increase in the year fro
Slide 56: Tenant make-up
HELICAL @helicalpic | Helical plc | helical.co.uk 56 Tenant make-up Consumer services 2% Consumes goods Online retailing - Fashion 1% Legal Services 16% Flexible offices 9% Human Resources 4% Financial Services 4% IT Consultancy 6% Government/Charity S 1% Food & Beverage Software and Computer Servic
Slide 57: Top tenants
HELICAL @helicalplc | Helical plc | helical.co.uk Top 15 tenants Rank Tenant Tenant Industry Contracted Rent £m Rent Roll % 1 TikTok Technolog 7.6 16.5 2 Baker McKenzie Legal services 7.0 15.2 3 Farfetch Online retail 43 9.3 4 WeWork Flexible offices 4.0 8.6 5 Brilliant Basics Technolog 24 54 6 VMwa
Slide 58: Property portfolio
HELICAL @helicalplc | Helical plc | helical.co.uk 58 Property portfolio Total vacancy rate at Total vacancy rate at Areasq ft 31March 2022 31March 2021 London Portfolio - Investment Properties Description (NIA excluding storage) f Completed properties The Warehouse and Studio, The Bower EC1 Multi-le
Slide 59: Disclaimer
HELICAL @helicalplc | Helical plc | helical.co.uk 59 Disclaimer Whilst we have taken all reasonable care to ensure that the information and material contained in this presentation is accurate at the time of its distribution, no representation or warranty, express or implied, is made as to its accura
Slide 60: reception@helical.co.uk Hanover Square
0207 629 0113 reception@helical.co.uk 5 Hanover Square London W1S 1HO. www.helical.co.uk @helicalple PELICAL