Sirius Real Estate : Presentation

YEAR END RESULTS PRESENTATION

31ST MAR 2023

www.siriusfacilities.com

Leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the UK

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Heiligenhaus | Germany

Mar 2023		Year End Results

About Sirius

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Leading owner and operator

of business parks, industrial complexes & out of town offices in Germany & the UK

Fully integrated operating	Market capitalisation of over
platforms with over 450 employees in	€1.1bn (£950m)
nearly 150 locations across Germany &
the UK

€2.5bn value of owned & managed	Listed on the main markets	FTSE EPRA/NAREIT Global Real
property across Germany & the UK	of the LSE (FTSE250) & JSE	Estate Index and FTSE/JSE SA
(€2.1bn owned)	UK REIT Status *	Listed Property Index

€975.1m Total debt	€1.6bn Unencumbered	€100m plus FFO
(Net LTV 41.6% & 40.6% @ May 23)	property	65% Payout ratio
			1.5x Covered dividend
Mar 2023				Year End Results
	* Relating to UK business only

Germany

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Economy spread across several large autonomous markets

Frankfurt, Berlin, Munich, Hamburg, Düsseldorf, Cologne & Stuttgart

High replacement costs

German light-industrial buildings are constructed to comparatively high standards and replacement costs are often between 200% - 300% of the capital value of secondary stock

Well diversified economy

Machinery, automotive, chemical, medical, energy, environmental, consumer & service

High levels of investment

Germany and German real estate in particular has historically attracted high levels of investment and remains resilient despite the uncertain market conditions

The "Mittelstand"

The SME market makes up over 50% of the German economy in terms of both employment & output; SME demand remains strong

Resilience

• Despite falling into a [technical] recession the German economy is forecast to grow 0.2% in 2023, with a stronger economic recovery (2.5% growth) expected in 2024.
• German gas reserves are now (after the winter period) at over 75%* full to capacity

Mar 2023		Year End Results

* As per the German Federal Grid Agency Management Report May 12th 23

UK

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Market synergies

Industrial/out of town office market in the UK presents similar characteristics to its Germany counterparts with similar lettings and property investment/ management methodologies

Strong rental growth potential

High levels of market fragmentation and chronic supply constraints offer potential for significant rental growth and consolidation

Regional Investment a

Government priority

Continued government commitment to 'levelling up' in `the UK via creation of 12 investment zones, each backed with £80m of investment over the next five years.

Rise in nearshoring increasing production efforts

SME business revival driven by higher numbers of locally made goods, with new start-ups created to satisfy demand from within the UK together with Post Brexit trade friction

Favourable sector dynamics

Enquiries for flexible office space up 158% on pre-pandemic levels across the UK, and up 72% YoY *

Mar 2023		Year End Results

* Workthere UK flexible office market snapshot, Jan 2023