Value and Indexed Property Income Trust PLC · LSE:VIP
Value and Indexed Property Income Trust — Shareholder Meeting (July 2026)
33 slides from Value and Indexed Property Income Trust's shareholder meeting presentation, Jul 16, 2026
Slide 1: Value and Indexed Property Income Trust PLC Portfolio Update
1 VALUE AND INDEXED PROPERTY INCOME TRUST PLC Portfolio Update Annual General Meeting 16 July 2026 @ 12.30pm LONG, STRONG, INDEXED PROPERTY INCOME
Slide 2: Welcome
2 WELCOME LONG, STRONG, INDEXED PROPERTY INCOME
Slide 3: The Team
3 THE TEAM VIP FUND MANAGERS SARAH MARTIN MATTHEW OAKESHOTT LOUISE CLEARY LONG, STRONG, INDEXED PROPERTY INCOME
Slide 4: VIP - Performance
4 VIP - PERFORMANCE LONG, STRONG, INDEXED PROPERTY INCOME
Slide 5: Portfolio Performance Highlights - Year to March
5 HIGHLIGHTS - Y E A R T O 3 1 M A R C H 2 0 2 6 PORTFOLIO PERFORMANCE VIP’s share price: Share price 1 year as a REIT total return: 3.8% 11.6% VIP total property Net asset value (NAV) VIP total property return: total return: return: 5 years – 4.8% p.a. 5.6% 6.5% v 5.4% (MSCI) 10 years – 6.4% p.a. 3
Slide 6: Portfolio Performance Highlights Year to March 2026
6 HIGHLIGHTS YEAR TO 31 MARCH 2026 PORTFOLIO PERFORMANCE 1 2 3 4 5 6 5 properties All Lease 16 rent sold at New £15m properties EPCs 100% extensions at reviews valuation 5 year RCF now compliant Catterick and +£0.8m for £16m & arranged – freehold Milton Keynes 1 purchase at £3m LONG, STRONG, INDEXED
Slide 7: Portfolio Performance Highlights March 2026 to Date
7 HIGHLIGHTS 31 MARCH 2026 TO DATE PORTFOLIO PERFORMANCE 1 2 3 4 £15m 2 properties 2 new sectors 4 rent reviews 5 year RCF – purchased introduced completed @ converted to for £6.6m diversifying the +£0.1m fixed rate loan @ NIY of portfolio in April 2026 7.9% further LONG, STRONG, INDEXED PROPERTY IN
Slide 8: VIP Property Portfolio Performance Record
8 VIP PROPERTY PORTFOLIO PERFORMANCE RECORD 39 YEARS TO 31 MARCH 2026 12.0% VIP Property PORTFOLIO PERFORMANCE 10.8% 10.0% MSCI UK Quarterly Property Index 8.0% 7.6% CPI 6.8% 6.5% 6.4% 6.0% 5.4% 5.1% 4.8% 4.5% 4.3% 4.0% 3.5% 3.4% 3.4% 3.3% 2.9% 2.9% 2.9% 2.8% 2.0% 0.0% 1 year 3 years 5 years 10 year
Slide 9: Dividend
9 DIVIDEND LONG, STRONG, INDEXED PROPERTY INCOME
Slide 10: Dividend Yield
10 DIVIDEND YIELD • 39-year track record 7.5% of dividend increases DIVIDEND CONSISTENT • Risen every year DIVIDEND since 1986 GROWTH • Dividend per share +1,052% (6.5% p.a.) v CPI +200% (2.9% p.a.) LONG, STRONG, INDEXED PROPERTY INCOME
Slide 11: VIP Dividend History
DIVIDEND 12 0 4 6 10 14 2 8 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 38 YEARS TO 31 MARCH 2026 2008 2009 2010 Year Ending March 2011 VIP DIVIDEND HISTORY 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 11 LONG
Slide 12: Portfolio Overview
12 PORTFOLIO OVERVIEW LONG, STRONG, INDEXED PROPERTY INCOME
Slide 13: Portfolio
LONG, STRONG, INDEXED PROPERTY INCOME PORTFOLIO RENT INDEXATION RENT COLLECTION LEASE LENGTH 100% 100% 15.7 years (to expiry) 13.5 years (to break) RPI 88% No Voids 27 properties – 29 leases CPI 10% MSCI 8.7% Fixed 2% LONG, STRONG, INDEXED PROPERTY INCOME
Slide 14: Portfolio Summary
14 PORTFOLIO SUMMARY PORTFOLIO 30 JUNE 2026 31 MAR 2026 31 MAR 2025 Capital Value £138.4m* £133.3m** £146.0m PORTFOLIO Contracted Income £10.2m £9.6m £9.8m (Rent collected 100%) Net Initial Yield 6.9% 6.8% 6.3% Number of Properties 27 26 30 Number of Tenants 29 28 32 (Portfolio 100% let) Contracted
Slide 15: Top Properties by Capital Value
15 TOP 10 PROPERTIES % BY CAPITAL VALUE % OF PORTFOLIO BY PROPERTY TENANT SECTOR CAPITAL VALUE Nantwich Blue Diamond Garden Centre 13% Newport Isle of Wight Marks and Spencer Supermarket 7% PORTFOLIO Rayleigh Marks and Spencer Supermarket 7% Dover Parkdean Resorts Caravan Park 6% Coventry Tenpin, Pi
Slide 16: Capital Value by Region and Sector
16 CAPITAL VALUE % PORTFOLIO BY REGION BY SECTOR VALUATION 5% (South West) 2% (London) 3% Pubs £138.4m PORTFOLIO 8% (Scotland)) (30 June 2026) 10% Hotels 28% 11% Supermarkets 35% (North) Health Club & 9% (Midlands) Caravan Park 14% 16% Bowling & (East Anglia) Cinema 21% 13% Industrial/Warehouse 25%
Slide 17: High Quality Tenants - 81% Income from Top Ten
17 HIGH QUALITY TENANTS – 81% INCOME FROM TOP TEN 14% 13% 9% 8% 8% 6% 6% 6% 6% 5% LONG, STRONG, INDEXED PROPERTY INCOME
Slide 18: Index-Related Rent Review Pattern
18 INDEX-RELATED RENT REVIEW PATTERN BY CONTRACTED RENT RETAIL PRICES INDEX CONSUMER PRICES INDEX FIXED INCREASES INCOME 88% 10% 2% 23 TENANCIES 4 TENANCIES 2 TENANCIES LONG, STRONG, INDEXED PROPERTY INCOME
Slide 19: Rent Increases Since March 2025
19 RENT INCREASES SINCE 31 MARCH 2025 INCOME March to Dec 2025: Jan to March 2026: Year to March 2026: 14 rent reviews 2 reviews 74% of rents (£6.3m) completed: £0.1m increase reviewed £0.7m increase (16 tenancies) * Forecast LONG, STRONG, INDEXED PROPERTY INCOME
Slide 20: Rent Increases Since March 2026
20 RENT INCREASES SINCE 31 MARCH 2026 INCOME March to June 2026: Year to March 2027: £0.1m increase 38% of rents - £3.8m +8.3% to be reviewed 4 tenancies 11 tenancies * Forecast LONG, STRONG, INDEXED PROPERTY INCOME
Slide 21: Impact of Inflation on Future Rental Growth
21 IMPACT OF INFLATION ON 5 YEAR FUTURE RENTAL GROWTH(2026 to 2031) 5.0% 4.0% INCOME 3.0% 2.0% 1.0% 0.0% CPI 0% CPI 1% CPI 2% CPI 3% CPI 4% CPI 5% % p.a. LONG, STRONG, INDEXED PROPERTY INCOME
Slide 22: How Do We Outperform?
22 HOW DO WE OUTPERFORM? LONG, STRONG, INDEXED PROPERTY INCOME
Slide 23: Sector Changes Over the Years
23 SECTOR CHANGES OVER THE YEARS Anticipating structural changes 45% Shops Pubs / Restaurants 40% PERFORMANCE Caravan Park / Other 35% Roadside Industrial / Warehouse 30% Supermarkets 25% Bowling & Cinema Garden Centre 20% Hotels 15% 10% 5% 0% Mar-14 Mar-20 Jun-26 LONG, STRONG, INDEXED PROPERTY INCO
Slide 24: Sales & Purchases
24 SALES & PURCHASES LONG, STRONG, INDEXED PROPERTY INCOME
Slide 25: Sales to End March 2026
25 5 SALES - to end March 2026 for £16m @ 7.6% PERFORMANCE Doncaster - Leasehold Aylesford – Short sublet Thirsk – Short lease Stafford – Refurbished Blandford Forum – Short lease LONG, STRONG, INDEXED PROPERTY INCOME
Slide 26: Esher Cinema - New Purchase
26 ESHER CINEMA NEW PURCHASE PURCHASE LONG, STRONG, INDEXED PROPERTY INCOME
Slide 27: Leicester Crematorium - Purchase
27 LEICESTER CREMATORIUM PURCHASE LONG, STRONG, INDEXED PROPERTY INCOME
Slide 28: Debt
28 DEBT LONG, STRONG, INDEXED PROPERTY INCOME
Slide 29: Long Fixed Debt
29 LONG FIXED DEBT • RCF converted to a fixed term loan 4.9% – expiring 2033 DEBT AVAILABLE £15m • Interest rate – 5.9% DEBT fixed interest rate for • Maturity – 7.0 years 96% of drawn debt DEBT DRAWN £50m • Fixed term loan – expiring 2033 Current overall loan to value ratio for VIP: • Interest rate
Slide 30: Liquidity and Discount Control
30 LIQUIDITY AND DISCOUNT CONTROL LONG, STRONG, INDEXED PROPERTY INCOME
Slide 31: A Vigorous Discount Control Policy
31 A VIGOROUS DISCOUNT CONTROL POLICY Since 1 October 2025 VIP aims to issue shares at a premium and buy back @ SHARES c.10% discount to EPRA NTA per share Premium : 2,577,500 shares issued from Treasury @ 213p* Discount : 90,000 shares bought back for Treasury @191p average* * Since 1 April 2026 LO
Slide 32: Questions?
32 Questions? QUESTIONS? LONG, STRONG, INDEXED PROPERTY INCOME
Slide 33: Disclaimer
33 DISCLAIMER This document has been prepared by OLIM Property Limited solely for presentation to the AGM on 16 July 2026. For the purpose of this disclaimer, ‘Presentation’ shall mean this document DISCLAIMER and the slides by OLIM Property Limited. This Presentation is supplied for information pur
Value and Indexed Property Income Trust — Shareholder Meeting (July 2026) on 6ix