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Elite UK REIT — H1 2024 Earnings Presentation
24 slides from Elite UK REIT's earnings presentation, Aug 7, 2024
Slide 1: 1H 2024 Financial Results
1H 2024 Financial Results 7 August 2024 Crown House, Romford 0
Slide 2: Section I: 1H 2024 Highlights
Section I 1H 2024 Highlights Monks Park Avenue, Bristol 1
Slide 3: Adjusting our Sails to Navigate the Winds
Adjusting our Sails to Navigate the Winds STABILITY TRANSFORMATION o Reduced borrowings by more than £38m o Funded £15m of sustainability capital through fundraising and capital recycling from expenditure in collaboration with tenants dilapidation settlements and divestments o Proactive strategi
Slide 4: Key Highlights of 1H 2024
Key Highlights of 1H 2024 Financial Highlights Asset Management 1.40 pence 1H 2024 DPU(1) ▼ 2.1% (2) yoy mainly due to £18.6 million 1H 2024 Revenue(3) ▼ 0.6% yoy mainly due to £415 Portfolio Valuation ▲ 0.6% vs 31 Dec 2023 vacant assets vacant assets million 11.7 Distribution Yield £0.41 Net Asset
Slide 5: Section II: 1H 2024 Financial Performance
Section II 1H 2024 Oates House, Stratford Financial Performance 4
Slide 6: Financial Highlights – 1H 2024 vs 1H 2023
Financial Highlights – 1H 2024 vs 1H 2023 Financial Results 1H 2024 1H 2023 Change £’000 £’000 % Factors influencing y-o-y performance Revenue(1) 18,612 18,730 ▼ 0.6 Lower revenue mainly due to non-income generating vacant Net Property Income(1) 18,732 19,629 ▼ 4.7 assets offset by rent escalation
Slide 7: Capital Management
Capital Management No refinancing requirements until 2027 Elite UK REIT’s Debt Maturity Profile 30 Jun 2024 31 Dec 2023 50 50 Total Debt £193.4m £221.3m Secured facilities to refinance 2-year all existing debts to 2027 Extension Net Gearing Ratio(1) 41.4% 47.5% Options Borrowing Costs 5.2% 5.2% 165
Slide 8: Section III: 1H 2024 Portfolio Performance
Section III 1H 2024 Portfolio Performance Broadway House, Ealing 7
Slide 9: Full Income Visibility from Government Leases
Full Income Visibility from Government Leases High Portfolio On-time Advance Weighted Average Lease Renewal of Occupancy Rate Rent Collection Lease Expiry 10 years 92.3% ~100% 3.8 years Units 1-2 Dallas Court, Salford(1) Lease Expiry Profile as at 30 June 2024 (% of total portfolio rent)(2) 96.9% 96
Slide 10: Diversified & Stable Portfolio
Diversified & Stable Portfolio Unique Asset Class Strategically Located Credit Stability & Network of social infrastructure Assets located primarily in Income Certainty assets serving the local communities town centres, close to key Leases signed directly with transport nodes and amenities the Secre
Slide 11: What does the future look like?
What does the future look like? Elite UK REIT will broaden its portfolio mix to other defensive sectors Long-term vision for Elite UK REIT Defensive cashflow backed by Multi-sector and focused Asset management-led non-discretionary assets market exposure to the UK value creation • Benefit from resil
Slide 12: Expansion of Investment Strategy
Expansion of Investment Strategy Strategic pivot for Elite UK REIT to position for Growth 1 Promote growth through the expansion of the investment strategy which will also bring about diversification in asset class and tenancy 2 In-line with our objective to unlock latent value of Elite UK REIT’s po
Slide 13: Asset Repositioning Strategy
Asset Repositioning Strategy Vacant assets may be relet, repositioned or recycled Properties are located primarily in town centres, close to transportation nodes and amenities Properties may be RELET for commercial or other uses, or REPOSITIONED or disposed with capital RECYCLED back into the ba
Slide 14: Potential Data Centre Development Site
Potential Data Centre Development Site Site for a Low Emission + Low Latency Data Centre in Blackpool UK New Subsea Blackpool Data Link with North DATA CENTRE America DEVELOPMENT SITE Blackpool 65 MIN DRIVE London Liverpool Manchester 1 LOCATION 2 POWER 3 SUPPORTIVE LOCAL GOVERNMENT Site bene
Slide 15: Commitment to ESG
Commitment to ESG Driving sustainable value for Unitholders E Sustainable Financing for Better Energy Efficiency G Governance & Stewardship 100 Sustainability-linked loan Potential savings in borrowing costs Zero per cent Maintained zero incidence of non-compliance / corruption per cent as it achiev
Slide 16: Section VI: Key Priorities
Section VI Key Priorities High Road, Ilford 15
Slide 17: Outlook and Opportunities
Outlook and Opportunities Positioning for long-term income and value Economy of the UK Elite UK REIT’s assets benefit from a resilient and • 6th largest economy in the world and 2nd largest in Europe stable income profile • Stable and lawful political and judiciary system with low High level of
Slide 18: 2024 – 2025 Key Priorities
2024 – 2025 Key Priorities Management’s focus areas in the near-term Opportunistic divestment + capital recycling to lower gearing Widen analyst + Highest + best 1. Proactive asset management media coverage alternative uses Equity index Extend and Social focus + inclusion diversify leases sustainabi
Slide 19: For enquiries, please contact
For enquiries, please contact: CHAI Hung Yin, Investor Relations Elite UK REIT Management Pte. Ltd. +65 6955 9999 hungyin.chai@eliteukreit.com LinkedIn ELITEUKREIT 8 Temasek Boulevard, #37-02 Suntec Tower 3, Singapore 038988 Website https://www.eliteukreit.com/ 18
Slide 20: Section VII: Additional Information
Section VII Additional Information Duchy House, Preston Palatine House, Preston 19
Slide 21: UK REIT listed in Singapore
UK REIT listed in Singapore Government facilities providing critical services to local communities(1) Geographically Diversified with a network of strategically well-located assets across the UK 155 100% Triple Net Freehold and Full Repairing & Long Leasehold Assets(2) Insuring Leases(3) Scotland 3.
Slide 22: Portfolio Overview as at 30 June 2024
Portfolio Overview as at 30 June 2024 London Portfolio Scotland Properties 10 Properties 150 Properties 27 Net internal area (sq ft) 193,532 Net internal area (sq ft) 3,773,433 Net internal area (sq ft) 847,174 Valuation (£ million) 62.8 Valuation as at 30 June 2024 (£ million) 415.0 Valuation (£ mi
Slide 23: Distribution timetable
Distribution timetable Date Day Last day of trading on a ‘cum-distribution’ basis 14 Aug 2024 Wednesday Units will be traded ex-distribution 15 Aug 2024 Thursday Record date / Announcement of issue price for DRP 16 Aug 2024 Friday Closing date for submission of Election Notice 5 Sep 2024 Thursday An
Slide 24: Disclaimer
Disclaimer This announcement is for information only and does not constitute or form part of an offer, invitation or solicitation of any offer to This announcement is for information only and does not constitute or form part of an offer, invitation or solicitation of any offer to purchase or subscri