Slide 1: Full Year Results Presentation
FULL YEAR RESULTS PRESENTATION March 26 Dresden,Germany
Slide 2: Providing Conventional Space and Flexible Workspace in Germany and the UK
PROVIDING CONVENTIONAL SPACE AND FLEXIBLE WORKSPACE INGERMANYAND THE UK Chalcroft, UK P.2
Slide 3: Creating Value from Conventional and Flexible Workspace
CREATING VALUE FROM CONVENTIONAL AND FLEXIBLE WORKSPACE GERMA IN NY& THE UK € 1.8BNMARKET CAP |€3.0 BNINVESTMENT PORTFOLIO A fully integrated, cashflow generative workspace provider ▪ Industrial, mixed use business parks, offices and self storage in Germany (74%) and the UK (26%) ▪ Higher yield asse
Slide 4: A Track Record of Outperformance and Growth
A TRACK RECORD OFOUTPERFORMANCE ANDGROWTH SUSTAINED LFL RENTAL GROWTH: 6.3% CAGR OVER 10+ YEARS DIVIDENDS |25th CONSECUTIVE INCREASE IN THE DIVIDEND PAID BY THE COMPANY Dividend Growth 2014 to 2026 4.0 2.98 3.00 3.05 3.06 3.09 3.18 3.22 2.70 Cents per share 3.0 2.37 1.77 1.80 1.82 1.98 2.04 2.0 1.53
Slide 5: Sirius Real Estate Germany and BizSpace UK
SIRIUS REAL ESTATE |GERMANY ▪ 78 sites, clustered around the edge of all 7 major cities ▪ Occupancy of 85.5% ▪ 7,436 tenants across those sites ▪ Valued at a 6.8% net yield ▪ Ranging from blue chips to 100’s of SME’s ▪ Organic growth centred on ▪ asset management ▪ €2.2bn gross asset value ▪ recycli
Slide 6: Highlights Year Ending March 26
HIGHLIGHTS |YEAR ENDING MARCH 26 FFO: €133.5m | +8.4% (Mar 2025: €123.2m) SUSTAINABLE GROWTH: PBT: €211.4m | +4.9% (Mar 2025: €201.6m) GROUP OPERATIONAL PERFORMANCE Per share FINANCIAL PERFORMANCE BALANCE SHEET RESILIENCE LFL YoY Rent Roll Growth Group Net Yield 7.3% Total Accounting Return: 10.2% G
Slide 7: On Track to Achieve Group FFO Ambition of €175m
ON TRACK TOACHIEVE GROUP FFO AMBITION |€175M JOURNEY ROADMAP |MID-TERM Roadmap to FFO ambition €175 ofm €m ▪ €18.0m contribution relating to capex investment programmes in Germany & UK 200 20.0 (8.0) (24.0) ▪ €8.0m contribution from the let up of 175 9.0 3.0 vacant space in Germany & UK 16.0 8.0 ▪ €
Slide 8: Self Storage Ambition: Road to €15m Revenue
SELFSTORAGE | AMBITION APATHTO€15M ANNUAL REVENUE €m ROAD TO €15M IN SELF STORAGE REVENUE 16.0 2.2 15.0 14.0 2.3 12.0 2.1 10.0 0.5 8.0 0.6 0.6 0.5 6.2 6.0 4.0 Existing MyLager (DE) Existing BizSpace (UK) Occupancy Rent Review New Ancilliary New Internal Space New Mylager Purpose New UK Development/
Slide 9: Defence Related Assets
DEFENCE RELATED ASSETS 60%OFREVENUE FROMDEFENCE RELATED TENANTS Purchase % of rent from SQMs Occupancy Vacancy - sqm Rent - €m NOI - €m Gross Yield * price - €m defence sector Bedford (UK) 18.6 22,127 96% 885 2.1 1.8 11.9% 33% Munich – Feldkirchen (DE) 43.7 27,180 94% 1,631 3.5 3.4 8.0% 69% Kiel (DE
Slide 10: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT GROUP |FFO+8.4% MAR 26 MAR 25 MOVEMENT €m €m % €m Rental Income 239.8 215.3 +11.4% 24.5 Titanium income 8.0 8.7 (0.7) Service charge irrecoverable costs (29.8) (25.8) (4.0) Non-recoverable maintenance (10.3) (8.4) (1.9) Net OperatingIncome 207.7 189.8 +9.4% 17.9 Corpora
Slide 11: Earnings & Dividend
EARNINGS & DIVIDEND |25th CONSECUTIVE INCREASE IN DIVIDEND PAID BY THE COMPANY PER SHARE 14 13.71 (3.27) 12 10 (1.62) Cents per share 8.82 8.82 (0.74) 8 8.08 (0.65) 7.43 6 6.40 4 2 NOI Overheads Interest and FFO Adjusting items Adjusted Earnings EPRA EPRA Earnings Dividend current tax after Tax adju
Slide 12: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION MAR 26 MAR 25 MOVEMENT €m €m % €m Assets Investment properties (owned assets) 2,969.4 2,465.2 21% 504.2 Investment properties (leased assets) 21.1 22.9 (8%) (1.8) Investment in associate 75.2 71.2 6% 4.0 Plant and equipment *20.9 *19.5 7% 1.4 Trade and ot
Slide 13: Organic Growth Germany
ORGANIC GROWTH GERMANY MAR 26 MAR 25 CHANGE Annualised Rent Roll €165.2m €140.2m 17.8% Annualised Rent Roll (LFL) €150.4m €140.2m 7.3% Occupancy (LFL) 86.5% 85.4% 1.1% Rate psm (LFL) €7.94 €7.50 5.9% Move-Ins* 232,064sqm 206,477sqm 12.4% Move-Ins Rate psqm* €8.70 €8.36 4.1% Move-Outs Rate psm* €8.03
Slide 14: Last Twelve Months LFL Rent Roll Movement Germany
LAST TWELVE MONTHS % LFL 7.3RENT ROLL MOVEMENT GERMANY €m 170 14.8 165.2 160 6.6 150.4 150 19.1 140.2 140 130 5.2 120 (20.7) 110 100 LFL Mar 25 LFL Move-outs LFL Capex Move-ins LFL Move-ins LFL uplifts LFL Mar 26 Acquisitions Total Mar 26 P.14
Slide 15: Acquisitions Germany
ACQUISITIONS |GERMANY €320MINVESTED IN 10 ACQUISITIONS TO STRENGTHEN PORTFOLIO D SIGNIFICANT INCOME & ADOPPORTUNITIES FOR VALUE CREATION DRESDEN III GEILENKIRCHEN MÖNCHENGLADBACH Total Investment: €23.4m Total Investment: €12.9m Total Investment: €17.2m Date of Completion: Sep 2025 Date of Completio
Slide 16: Executing Our Defence Related Investment Strategy
EXECUTING OURDEFENCE RELATED INVESTMENT STRATEGY |GERMANY FELDKIRCHEN KIEL FULDA 16 Total Investment: €43.7m Total Investment: €93.4m Total Investment: €49.8m Date of Completion: Nov 2025 Date of Completion: Apr 2026 Date of Notarisation: May 2026 Gross Yield: 8.2% Gross Yield: 8.9% Gross Yield: 8.4
Slide 17: Organic Growth Plan Germany
ORGANIC GROWTH |GERMANY PLAN SIGNIFICANT ORGANIC GROWTH POTENTIAL FROM 299,013 SQM IN GERMAN OF VACANCY PORTFOLIO Organic growth plan focused on investment into Value-Add Assets BOOK VALUE RENT ROLL NOI GROSS YIELDNET YIELD CAPITAL VALUE OCCUPANCY RATE PSM VACANT SPACE MAR -26* €m €m €m psm€ € sqm V
Slide 18: Capex Investment Programmes Germany & UK
CAPEX INVESTMENT PROGRAMMES |GERMANY & UK LAST FINANCIAL YEAR PERFORMANCE CAPEX INVESTED MARCH 2026 €48.8m GROUP Germany €32.4m UK €16.4m VALUE ADD CAPEX RENEWALS München Neuaubing, Germany Hallbergmoss, Germany Group: €24.4m Group: €0.7m Germany: €15.6m Germany: €0.7m UK: €8.8m UK: €0.0m NEW BUILDS
Slide 19: Capex Investment Programmes Germany: Value Add & Major Renewals
CAPEX INVESTMENT PROGRAMMES |GERMANY LAST 3 YEARS |VALUE ADD CAPEX & MAJOR RENEWALS VALUE ADD CAPEX BUDGET ACHIEVED TO DATE MAJOR RENEWALS CAPEX Sqm Developed 257,282 257,282 Sqm Renewed 211,436 Investment €m 33.8 29.2 Investment €m 4.86 Investment psm € 131 113 Incremental Rent Improvement 2.74 Ren
Slide 20: Capex Investment Programmes Germany: New Builds
CAPEX INVESTMENT PROGRAMMES |GERMANY NEW BUILDS – 20% IRR TARGETED SQM INVEST- RENT RATE PSM RATE PSM OCCU- YIELD ON VALUE IRR SQM INVEST- RENT RATE PSM RATE PSM OCCU- YIELD ON VALUE IRR NEW BUILDS MENT IMPROVEMENT BUDGETED ACHIEVED PANCY COST UPLIFT* NEW BUILDS MENT IMPROVEMENT BUDGETED ACHIEVED PA
Slide 21: Organic Growth UK
ORGANIC GROWTH UK SITE MAR 26 MAR 25 CHANGE Annualised Rent Roll £81.1m £67.9m 19.5% Annualised Rent Roll (LFL) £64.1m £61.3m 4.6% Occupancy (LFL)* 91.7% 90.9% 0.8% Rate psqft (LFL)* £14.47 £13.92 4.0% Move-Ins * 701,402sqft 733,467sqft (4.4%) Move-Ins Rate psqft * £16.47 £16.30 1.0% Move-Outs Rate
Slide 22: Rent Roll Movement UK
RENTROLLMOVEMENT UK LFL RENT ROLL INCREASED %DRIVEN 4.6 BYGROWTH £m 90.0 12.1 81.1 80.0 70.0 4.9 3.7 64.1 62.0 61.3 11.6 60.0 (0.7) 50.0 (12.5) 40.0 30.0 20.0 10.0 0.0 Total Mar 25 Disposal LFL Mar 25 LFL Move-outs LFL Move-ins LFL Uplifts LFL Mar 26 Vantage Point Business Village Acquisitions Total
Slide 23: Acquisitions UK
ACQUISITIONS |UK WELLTIMEDACCRETIVE ACQUISITIONS STRENGHTHEN UKPORTFOLIO &PROVIDE FURTHER VALUECREATION OPPORTUNITIES £157m in three assets acquired during the financial year 2025/2026 BEDFORD HARTLEBURY CHALCROFT Acquisition Price: £15.3m Acquisition Price: £101.1m Acquisition Price: £40.5m Date of
Slide 24: Asset Recycling
ASSET RECYCLING |€513MOF ACQUISITIONS NOTARISED OR COMPLETED IN PERIOD OF ER SHORTLY SELLING@ 5.0% ABOVE BOOK VALUE, BUYING @ 8.2% GROSS YIELD Three disposals all completed at or above book value at a total collective premium to book value of 5.0%, with proceeds recycled into the acquisition of elev
Slide 25: Summary
SUMMARY WELL PLACED FOR CONTINUED GROWTH STRONG ORGANIC & ACQUISITIVE GROWTH ▪ FFO growth of 8.4% to €133.5m compared to same period to Mar 25 ▪ 6.4%* increase in annualised LFL Group rent roll (18.4%* Total Rent Roll) with Germany and the UK increasing by 7.3% and 4.6% respectively ▪ Our most activ
Slide 26: Outlook
OUTLOOK ▪ The UK business suffered a weak Q3 with political instability affecting business confidence ▪ However, the UK ended the financial year with strong momentum which has continued into April and May. Dresden, Germany Basingstoke, UK ▪ The year finished strongly in both Germany and the UK and w
Slide 27: Appendices
APPENDICES ▪ Self Storage – Germany & UK ▪ ESG Appendix I (P. 28 - P. 37) Appendix VIII (P. 70 – P. 71) ▪ New projects & Historic case studies ▪ Our ESG Journey ▪ Defence Related Assets – Germany & UK ▪ Titanium Appendix II (P. 38 - P. 43) Appendix IX (P. 72 - P. 76) ▪ Total investment property valu
Slide 28: Self Storage Germany & UK
SELF STORAGE |GERMANY & UK APPENDIX I Berlin, Germany P.28
Slide 29: Self Storage Ambition: Road to €15m Revenue
SELFSTORAGE | AMBITION APATHTO€15M ANNUAL REVENUE €m ROAD TO €15M IN SELF STORAGE REVENUE 16.0 2.2 15.0 14.0 2.3 12.0 2.1 10.0 0.5 8.0 0.6 0.6 0.5 6.2 6.0 4.0 Existing MyLager (DE) Existing BizSpace (UK) Occupancy Rent Review New Ancilliary New Internal Space New Mylager Purpose New UK Development/
Slide 30: Self Storage Germany
SELF STORAGE GERMANY |37,000SQMOF EXISTING SELF STORAGE ACROSSLOCATIONS TOP 25 INGERMANY TOP 25 SELF -STORAGE LOCATIONS GERMANY |MAR -26 Asset Region Rent Roll Total Sqm Occupied Sqm No. Of Customers Occupancy H CENTRAL 372,912 2,160 1,605 210 74% I CENTRAL 247,808 1,569 1,216 113 78% L CENTRAL 232,
Slide 31: Self Storage AI Automation & Scalability
SELFSTORAGE |AI AUTOMATION & SCALABILITY A CLEAR VISION |BEING DEPLOYED Scalable AI & Automation Rollout ▪ Proven Market Traction: Scaling from an established base of over 5,000 existing customers with a robust framework for substantial long-term growth. ▪ Strategic AI Integration: Deploying special
Slide 32: Gartenfeld Self-Storage New Build
GARTENFELD SELF-STORAGE NEW BUILD |BERLIN, GERMANY MULTISTORYPURPOSE BUILTSELFSTORAGE FACILITY SQM INVESTMENT RENT IMPROVEMENT RATE PSM BUDGETED YIELD ON COST IRR NEW BUILDS CAPEX €M €M € Gartenfeld Self Storage 5,200 10.8 1.2 20.0 11.5% 23% ▪ Purpose Built Self Storage Facility on existing site usi
Slide 33: Potsdam Self-Storage New Build
POTSDAM SELF-STORAGE NEWBUILD|POTSDAM, GERMANY MULTISTORYPURPOSE BUILTSELFSTORAGE FACILITY SQM INVESTMENT RENT IMPROVEMENT RATE PSM BUDGETED YIELD ON COST IRR NEW BUILDS CAPEX €M €M € Potsdam 5,600 12.8 1.3 20.0 10% 15% ▪ Purpose Built Self Storage Facility on land adjacent to existing site ▪ 800 Un
Slide 34: UK Self Storage Luton
UK SELF STORAGE |LUTON, UNITED KINGDON CONVERSION OFANEXISTING SITE SQM INVESTMENT RENT IMPROVEMENT RATE PSM BUDGETED YIELD ON COST IRR NEW BUILDS CAPEX €M €M € Luton 5,400 11.4 1.2 26 10.7% 16% ▪ Conversion of recently acquired site into self storage facility ▪ 750 Units spread over 5,400 sqm ▪ Exp
Slide 35: Case Study I: MyLager Munich Neuaubing
CASE STUDY I MYLAGER - SELF STORAGE MUNICH - NEUAUBING • Self Storage First Opened 2009 • 277 Customers / 88% Occupied / All-in €24.47 per SqM Rate achieved • Conversion of industrial space into high yielding and highly occupied self storage • Invested Capital: €195k • Annualised rate of return: 390
Slide 36: Case Study II: MyLager Berlin Gartenfeld
CASE STUDY II MYLAGER - SELF STORAGE BERLIN - GARTENFELD • Self Storage First Opened 2013 • 130 Customers / 70% occupied / All-in €21.87 per Sqm Rate achieved • Converted industrial space within existing building, now repositioning to a new purpose-built building on the front of this very prominent
Slide 37: Case Study III: MyLager Offenbach
CASE STUDY III MYLAGER - SELF STORAGE OFFENBACH • Self Storage First Opened 2014 • 300 Customers / 70% occupied / All-in €19.00 per SqM Rate achieved • Conversion of Industrial/Office space. • Invested Capital: €223k • Annualised rate of return: 164% Lübeck, Germany P.37
Slide 38: Defence Related Assets Germany & UK
DEFENCE RELATED ASSETS |GERMANY & UK APPENDIX II Feldkirchen, Germany P.38
Slide 39: Emergence of a Defence Based Property Super-Cycle
WEARESEEINGTHEEMERGENCE OFA DEFENCE BASEDPROPERTY SUPER -CYCLE TIMELINE ▪ We have been signaling the defence opportunity since October 2024, coinciding with President Joe Biden‘s visit to Berlin ▪ Approved 2026 budget lifts Germany‘s core defence spend to c. €82.7bn for this year ▪ Gradual increase
Slide 40: Defence Related Assets
DEFENCE RELATED ASSETS 60%OFREVENUE FROMDEFENCE RELATED TENANTS Purchase % of rent from SQMs Occupancy Vacancy - sqm Rent - €m NOI - €m Gross Yield * price - €m defence sector Bedford (UK) 18.6 22,127 96% 885 2.1 1.8 11.9% 33% Munich – Feldkirchen (DE) 43.7 27,180 94% 1,631 3.5 3.4 8.0% 69% Kiel (DE
Slide 41: The Defence Dividend
THE DEFENCE DIVIDEND A GENERATIONAL OPPORTUNITY ▪ Geopolitical changes and policy shifts across Europe Rising Delivery Phase Infrastructure are driving a sustained Defence Spend Now Critical Bottleneck increase in defence investment. UK & allied defence budgets Strategic plans transitioning Industri
Slide 42: Capacity Constraints
CAPACITY CONSTRAINTS 01 ▪ While demand for defence- System Near Limit linked infrastructure continues to grow, existing Capacity expected to reach critical levels capacity is already under within ~2 years pressure. ▪ The challenge is no longer identifying demand, but delivering the physical space re
Slide 43: UK vs Europe: Different Approaches to Delivery
UK VS EUROPE DIFFERENT APPROACHES TO DELIVERY Germany moves first UK moves with a top-down strategy with a bottom -up approach Germany is financing at scale, The UK follows a bottom-up approach, deploying 7,000 AFVs and moving slower and facing significant converting factories under a capacity const
Slide 44: Valuations Germany & UK
VALUATIONS |GERMANY & UK APPENDIX III Geilenkirchen, GERMANY P.44
Slide 45: Property Valuations & Book Values Germany
PROPERTY VALUATIONS & BOOK|VALUES GERMANY Book Value Annualised NOI Net Capital Value Rate Vacant Space MAR -26 Gross Yield Occupancy €m Rent Roll €m €m Yield psm€ psm€ sqm Total Portfolio 2,210.6 * 165.2 149.5 7.5% 6.8% 1,047 85.5% 7.82 299,013 TOTAL 2,210.6 165.2 149.5 7.5% 6.8% 1,047 85.5% 7.82 2
Slide 46: Valuation Movement Germany
VALUATION MOVEMENT |GERMANY REVENUE PERFORMANCE LED INCREASE IN VALUATION PORTFOLIO VALUATION INCREASES LIKE FOR LIKE ASSETS €m 2,400 As at 31 Mar 2026: Gross Yield 7.4% *** 182.5 ** 2,210.6 Net Yield 6.7% 2,200 Capital value psm €1,080 136.8 * 0.8 2,028.2 2,000 As at 31 Mar 2025: 1,890.6 Gross Yiel
Slide 47: Valuation Movement UK
VALUATION MOVEMENT |UK STRONG RENTAL GROWTH AND MODEST YIELD TIGHTENING UK (£M) | PORTFOLIO VALUATION INCREASES LIKE FOR LIKE ASSETS £m As at Mar 2026: 700 Gross Yield = 13.9% 162.1 658.9 Net Yield = 9.3% 600 Capital Value per sqft = £81 12.9 * 6.7 496.9 As at Mar 2025: 500 480.0 477.3 Gross Yield =
Slide 48: Market Dynamics & Portfolio Germany
MARKET DYNAMICS & PORTFOLIO |GERMANY APPENDIX IV Dresden, GERMANY P.48
Slide 49: Market Dynamics Germany
MARKET DYNAMICS GERMANY Economy spread across several large Record rise in German Defence Spending The "Mittelstand" autonomous markets Germany’s defence spending is surging to record levels, The SME market makes up over 50% of the German Frankfurt, Berlin, Stuttgart, Cologne, with expenditure growi
Slide 50: Diversified Portfolio: Tenants Germany
DIVERSIFIED PORTFOLIO |TENANTS GERMANY USAGE SPLIT BY SQM TENANT SPLIT BY REVENUE 7,436 Tenants Storage 2.8yrs Portfolio WALT 31% 32% Top 50 Anchor Tenants Production 38% Smartspace SmartSpace SME Tenants 9.6% Of total rent roll relate to Government Tenants 55% Other 7% Other SME Tenants 6% 24% Offi
Slide 51: Diversified Portfolio Germany Locations
DIVERSIFIED PORTFOLIO GERMANY LOCATIONS NO. OF TOTAL SQM RATE ANNUALISED RENT% OF PORTFOLIOBOOK VALUE MAR 25 OCCUPANCY GROSS YIELD PROPERTIES ‘000’s psm€ €m BY RENT €m 5 Frankfurt 16 342 89.4% 8.44 31.0 19% 394.7 7.6% Berlin 4 108 94.3% 9.85 12.0 7% 201.1 6.0% 4 Stuttgart 10 368 92.0% 5.65 23.0 14%
Slide 52: Diversified Products Germany SmartSpace
DIVERSIFIED PRODUCTS GERMANY SMARTSPACE ANNUALISED% OF TOTAL RATE RENT ROLL SMARTSPACE TOTAL OCCUPIED OCCUPANCY ANNUALISED per sqm (ex. service PRODUCT TYPE sqm sqm % SMSP RENT(excl. service charge) ROLL charge)€ m€ SMSP Storage 64,762 43,970 68% 4.6 41% 8.75 SMSP Office 47,730 31,102 65% 3.9 35% 10
Slide 53: Diversified Portfolio Germany Assets
DIVERSIFIED PORTFOLIO GERMANY ASSETS Traditional Mixed Use Industrial Business Parks Modern Mixed Use Business Parks Out of Town Office Buildings Large scale Long-term SME’s + Retail Customers Long & Short-term leases Multi-tenant SME’s Conventional workspace lease lengths + co-working + Flexible of
Slide 54: Market Dynamics & Portfolio UK
MARKET DYNAMICS & PORTFOLIO |UK APPENDIX V Hartlebury, UK P.54
Slide 55: Market Dynamics UK
MARKET DYNAMICS UK Structural undersupply of UK UK defence spending set to rise Sustained levels of investment industrial assets as demand rises The UK defence industry supports 460,000 jobs and 12,000 The UK real estate market continues to attract high levels of The UK industrial market continues t
Slide 56: Diversified Portfolio: Tenant Risk Low UK
DIVERSIFIED PORTFOLIO |TENANT RISK LOW UK USAGE SPLIT BY SQFT TENANT SPLIT BY REVENUE 4,300 Tenants 6% 2.2yrs Portfolio WALT 19% 31% 31% Office Top 100 3.9yrs Average Tenure Workshop Other Next 900 83.7% Occupancy Remaining Clients 75% 38% ▪ Structural shortage of our space NO. OFTENANTS OCCUPIED SQ
Slide 57: Diversified Portfolio UK Assets
DIVERSIFIED PORTFOLIO UK ASSETS Industrial Assets Mixed Use Assets Office Buildings SME’s Large scale SME’s Conventional SME’s Conventional & growing businesses workspace & growing businesses & flexible office spaces & growing businesses & flexible office spaces 59% 31% 10% P.57
Slide 58: Portfolio Growth
PORTFOLIO GROWTH APPENDIX VI Reinsberg Germany P.58
Slide 59: Acquisitions Germany
ACQUISITIONS |GERMANY €320MINVESTED IN 10 ACQUISITIONS TO STRENGTHEN PORTFOLIO D SIGNIFICANT INCOME & ADOPPORTUNITIES FOR VALUE CREATION DRESDEN III GEILENKIRCHEN MÖNCHENGLADBACH Total Investment: €23.4m Total Investment: €12.9m Total Investment: €17.2m Date of Completion: Sep 2025 Date of Completio
Slide 60: Acquisitions Germany
ACQUISITIONS |GERMANY MUNICH NEUAUBING II REINSBERG (DRESDEN ) LÜBECK HAMBURG Total Investment: €13.3m Total Investment: €22.1m Total Investment: 12.6m Total Investment: €31.9m Date of Completion: Apr 2025 Date of Completion: Apr 2025 Date of Completion: Jul 2025 Date of Completion: Jan 2026 Gross Y
Slide 61: Executing Our Defence Related Investment Strategy
EXECUTING OURDEFENCE RELATED INVESTMENT STRATEGY |GERMANY FELDKIRCHEN KIEL FULDA 61 Total Investment: €43.7m Total Investment: €93.4m Total Investment: €49.8m Date of Completion: Nov 2025 Date of Completion: Apr 2026 Date of Notarisation: May 2026 Gross Yield: 8.2% Gross Yield: 8.9% Gross Yield: 8.4
Slide 62: Acquisitions UK
ACQUISITIONS |UK WELLTIMEDACCRETIVE ACQUISITIONS STRENGHTHEN UKPORTFOLIO &PROVIDE FURTHER VALUECREATION OPPORTUNITIES £157m in three assets acquired during the financial year 2025/2026 BEDFORD HARTLEBURY CHALCROFT Acquisition Price: £15.3m Acquisition Price: £101.1m Acquisition Price: £40.5m Date of
Slide 63: Growth Germany
GROWTH GERMANY MAR -16 MAR -17 MAR -18^ MAR -19 MAR -20 MAR -21 MAR -22 MAR -23 MAR -24 MAR -25 MAR -26 Portfolio book value (€m) 687.4 823.3 967.3 1,132.50 1,186.20 1,347.20 1,636.9 1,689.6 1,725.0 1,890.6 2,210.6 Rent roll* (€m) 60.5 71.0 79.5 87.8 90.3 97.2 113.7 123.1 129.7 140.2 165.2 NOI (€m)
Slide 64: Growth UK
GROWTH UK NOV -21 MAR -22 MAR -23 MAR -24 MAR -25 Mar-26 Portfolio book value (£m) 345.5 382.2 367.2 394.7 480.0 658.9 Rent roll (£m) 41.9 45.1 48.5 55.6 67.9 81.1 NOI (£m) 27.5 * 30.5 ** 31.7 35.0 45.5 57.0 FFO (£m) 4.3 13.3 20.4 *** 23.8 37.3 44.7 Gross yield 12.1% 11.8% 13.2% 14.1% 14.1% 12.3% Li
Slide 65: Enquiries | Viewings | New Deals Germany
ENQUIRIES |VIEWINGS |NEW DEALS |GERMANY FOR THE PERIOD APR – MAR 25 26 INCREASED CONVERSION RATES MONTHLY AVERAGES Apr 25 – Mar 26 Apr 24 – Mar 25 Enquiries/Viewings/Sales Enquiries 1,197 1,268 1,600 350 Viewing 887 916 1,400 Sales 187 176 300 1,200 250 Enquiries Viewings 74.1% 72.2% Enquiries New D
Slide 66: Enquiries | Viewings | New Deals UK
ENQUIRIES |VIEWINGS |NEW DEALS |UK FOR THE YEAR APR– 25 MAR 26 2,000 180 MONTHLY AVERAGES 1,800 160 Apr 25 – Mar 26 Apr 24 – Mar 25 Enquiries 1,405 1,233 1,600 140 Viewing 376 353 1,400 Sales 116 110 120 Enquiries Viewings 26.8% 28.7% 1,200 Enquiries New Deals 8.2% 8.9% 100 1,000 80 800 ▪ 14% year o
Slide 67: Geographical Split and Financials
GEOGRAPHICAL SPLIT AND FINANCIALS APPENDIX VII Heidenheim, Germany P.67
Slide 68: Consolidated Income Statement Geographically Split
FINANCIAL |CONSOLIDATED INCOME STATEMENT GEOGRAPHICALLY SPLIT GERMANY GERMANY UK UK GROUP TOTAL GROUP TOTAL MAR 26 MAR 25 MAR 26 MAR 25 MAR 26 MAR 25 €m €m €m €m €m €m Rental Income 150.6 138.0 89.2 77.3 239.8 215.3 Titanium income 8.0 8.7 - - 8.0 8.7 Service charge irrecoverable costs (7.0) (7.2) (
Slide 69: Consolidated Statement of Financial Position Geographically Split
CONSOLIDATED STATEMENT OF FINANCIAL POSITION GEOGRAPHICALLY SPLIT GERMANY UK GROUP TOTAL MAR 26 MAR 25 MAR 26 MAR 25 MAR 26 MAR 25 €m €m €m €m €m €m Assets Investment properties (owned assets) 2,210.6 1,890.6 758.8 574.6 2,969.4 2,465.2 Investment properties (leased assets) 7.3 8.5 13.8 14.4 21.1 22
Slide 70: ESG
ESG APPENDIX VIII Berlin Gartenfeld, Germany P.70
Slide 71: Building Sustainable and Resilient Performance
ESG BUILDING SUSTAINABLE AND RESILIENT PERFORMANCE ▪ Continued progress embedding ESG across strategy and operations, grounded in financial discipline and focused on long-term economic resilience. ▪ Building a lower carbon, more resilient portfolio: ▪ Maintained net zero for Scope 1 and 2 emissions
Slide 72: Titanium
TITANIUM APPENDIX IX Berlin Tempelhof, Germany P.72
Slide 73: Titanium: Sirius & BNP Paribas AM Alts
TITANIUM SIRIUS & BNP PARIBAS AM ALTS (FORMERLY IMALTS) AXA ▪ BNP Paribas AM Alts – trusted partner & 65% equity holder of Titanium ▪ Sirius Real Estate – asset manager & 35% equity holder of Titanium Augsburg Tempelhof ▪ €168m seed portfolio sold into Titanium by Sirius in August 2019 ▪ Targeting s
Slide 74: Titanium Organic Growth
TITANIUM ORGANIC GROWTH RENTALINCOME ANALYSIS SITE MAR 26 MAR 25 CHANGE Rent Roll* €28.3m €26.1m 8.4% Occupancy* 87.8% 85.3% 2.5% Rate psm* €7.70 €7.30 5.5% * Based on Headlease level MAINZ, GERMANY P.74
Slide 75: Titanium Balance Sheet
TITANIUM BALANCE SHEET TITANIUM €365.8m Investment property value SIRIUS 35 % SHARE €m Investment property 128.0 Other assets 4.4 36.0% Net LTV* Cash 7.1 Total assets 139.5 Bank loans (52.3) 7 No. of assets Other liabilities (5.2) Deferred tax (6.8) Total liabilities (64.3) Net assets 75.2 €28.3m An
Slide 76: Titanium Returns
TITANIUM RETURNS MAR 26 ▪ Share of profit through 35% equity ownership Invested equity €54.1m ▪ 8.1% increase in NAV after payment of Profit after tax €3.5m €0.7m dividend Net management fees (including €1.2m performance fee) €4.1m ▪ Management fees generated from the Total income €7.6m provision of
Slide 77: Financing
FINANCING APPENDIX X Geilenkirchen, UK P.77
Slide 78: Financing
FINANCING NEXTSIGNIFICANT REFINANCING IN 2028 Mar 26 36.1% Net LTV Unsecured Borrowings €1,223.8m Secured Borrowings €230.0m TOTAL BORROWINGS €1,453.8m Net LTV * 36.1% Weighted average interest rate 2.5% 2.5% Average cost of debt Interest cover at EBITDA level 7.3x Weighted average debt expiry - yea
Slide 79: Debt Maturity
DEBT MATURITY €m 700 3.2 years Weighted average maturity 600 583 500 468 2.5% Average cost of debt 403 400 300 €403.0m Maturing within the next year 200 100 - - - < 12 months 13-24 months 25-36 months 37-48 months > 49 months P.79
Slide 80: Covenants
COVENANTS SECURED FACILITY COVENANTS LOAN EXPIRY DATE Mar 26 Hard Covenant DSCR* DYR* LTV*** DSCR DYR LTV Berlin Hyp AG 2.28x n/a 51.8% 1.40x n/a 65.0% Oct 30 Sparkasse 3.92x n/a n/a 2.00x n/a n/a Feb 30 Deutsche Pfandbriefbank AG n/a 17.6% 43.3% n/a 8% 50% Dec 30 UNSECURED FACILITY COVENANTS LOAN E
Slide 81: The Sirius Group Platform
THESIRIUSGROUP PLATFORM APPENDIX XI P.81
Slide 82: Integrated Operating Platform Germany
INTEGRATED OPERATING PLATFORM GERMANY TOTAL NO. EMPLOYEES IN > 60 LOCATIONS 302 Acquisitions Team 4 Acquire assets Service Charge Team Marketing Team 13 Cost Recovery 7 Lead generation Asset & Property Mgt. Sales Inbound Team 71 Strategic & operational Finance, IT, People & 11 Lead conversion to vie
Slide 83: Integrated Operating Platform UK
INTEGRATED OPERATING PLATFORM UK TOTAL NO. EMPLOYEES IN > 75 LOCATIONS 172 * Marketing Team Sales Inbound Team 2 Lead generation 6 Lead conversion to viewing Finance, IT, People & 34* Talent, Legal, ESG Execution & support Asset & Property Mgt. National Sales Team 29 Strategic & operational 101 View
Slide 84: Share Register
SHAREREGISTER APPENDIX XII Vantage Point ,UK P.84
Slide 85: Share Register May 26
SHARE REGISTER 1 MAY26 TOP 10 SHAREHOLDERS SHARES (m) % HOLDING OWNER BY SECTOR BlackRock 173.4 10.9% Mutual Funds 11% Vanguard Group 84.9 5.3% 3% Pensions 4% Retail Public Investment Corporation (PIC) 84.3 5.3% 8% 44% Inv Trusts Aberdeen 81.7 5.1% 12% REIT Truffle Asset Management 70.7 4.4% Insuran
Slide 86: Case Studies
CASESTUDIES APPENDIX XIII München Neuaubing, Germany P.86
Slide 87: Case Study I: Fellbach
CASE STUDY I FELLBACH SITE PLAN & IMPRESSION OWNER BY SECTOR P.87
Slide 88: Case Study I: Fellbach Property Overview
CASE STUDY I FELLBACH PROPERTY OVERVIEW ▪ Traditional Business Park located north of Stuttgart acquired in September 2015 at a discounted EPRA net yield of 10.3% due to high volume of suboptimal space ▪ Transformational investment into suboptimal space supported by targeted sales and marketing plan
Slide 89: Case Study I: Fellbach Financials & Returns to Date
CASE STUDY I FELLBACH FINANCIALS & RETURNS TO DATE Acquisition Total ImprovementBusiness Plan Returns Analysis Actual Returns Aug 18 Mar 26 €m Total Cost/Valuation € 12.1m € 25.7m € 13.6m € 27.5m Retained Profit * 10.6 Total sqm 25,420 26,436 - 26,436 Valuation Increase 13.6 Value psm € 475 € 972 €
Slide 90: Case Study II: Neuaubing
CASE STUDY II NEUAUBING SITE PLAN & IMPRESSION OWNER BY SECTOR P.90
Slide 91: Case Study II: Neuaubing Property Overview
CASE STUDY II NEUAUBING PROPERTY OVERVIEW ▪ Traditional business park located Munich comprising of over 90k sqm of mixed-use space acquired Sep 2007 ▪ Re-geared anchor tenant lease as well as invested into sub optimal space utilizing the Sirius SmartSpace product offering ▪ Annual net operating inco
Slide 92: Case Study II: Neuaubing Financials & Returns to Date
CASE STUDY II NEUAUBING FINANCIALS & RETURNS TO DATE Acquisition Total ImprovementBusiness Plan Returns Analysis Actual Returns Mar 2015 Mar 26 €m Total Cost/Valuation € 57.0m € 167.3m € 110.3m € 172.9m Retained Profit * 68.2 Total sqm 90,784 93,097 - 93,097 Valuation Increase 110.3 Value psm € 628
Slide 93: Disclaimer
DISCLAIMER This presentation may contain forward-looking statements with respect to the financial condition, performance and position, strategy, results of operations and businesses of Sirius Real Estate Limited (“Sirius”). Such statements and forecasts involve risk and uncertainty because they are