Interim results presentation

DRIVING PERFORMANCE

INTERIM RESULTS SEPTEMBER 2021

AGENDA

	Page
Introduction	3
Highlights	8
Portfolio Review	11
Market Outlook	22
Summary	25
Appendix	27

URBAN LOGISTICS | INTERIM RESULTS SEPTEMBER 2021

INTRODUCTION

A highly experienced logistics investment management team

RICHARD MOFFITT

CEO

Former Head of UK Industrial and Logistics at CBRE

Total of 25+ years of Logistics market experience.

Experience includes:

• Qualified as Chartered Surveyor 1988
• CBRE Head of Industrial and Logistics 2010-2015
• Co-FounderM3 Agency 2000-2010 (specialist logistics consultancy)
• Chairman European Logistics Real Estate Partners 2018-present
• Member Chartered Institute of Logistics and Transport

CHRISTOPHER TURNER

ASSET MANAGER

Qualified Chartered Surveyor

25 years of experience in acquisition, performance and disposal of investments

Experience includes:

• Acquired, managed and traded £175 million asset portfolio
• Acquired and repositioned €135 million industrial portfolio in Germany
• Formerly Director of Hill Samuel Investment Management
• Formerly Director and Head of Asset Management at Lambert Smith Hampton

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URBAN LOGISTICS REIT PLC

A pure play on urban logistics

• UK REIT quoted on the AIM market of the London Stock Exchange
• Income and Total Return strategy through active asset management
• Invests in mid-box logistics buildings up to 200,000 sq ft
• Assets located in key urban "last touch"/"last mile" locations
• The only London listed REIT with such a focus
• Management team with specific logistics experience within the broader real estate market
• 14.6% p.a average Total Accounting Return from IPO to 30 September 2021
• Preparations in respect of application for listing on Premium Segment of Main Market progressing well

DIFFERENTIATORS

FOCUS ON "LAST MILE" 20,000-200,000sq ft

• Most appropriate size for last-mile delivery operators

STRATEGIC LOCATIONS 29% South East bias¹

• Area had among the strongest take-up of logistics space

STRONG COVENANTS

79% low/low-moderate risk²

• Single-letassets
• High-qualitytenants
• No fashion retail

1. Expressed as a percentage of capital value as at 30 September 2021.
2. Per Dun & Bradstreet (Overall Business Risk) as at 19 October 2021.

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URBAN LOGISTICS REIT

Delivering highly attractive returns

BUY WELL		MANAGE WELL		PROVE VALUES2
93 assets		1 rent review and		4.8%
acquired since IPO1		14 new lettings/re-gears		average disposal yield
		completed in the period
5.7%		18% average LFL income		35%
average purchase yield2		growth for rent reviews		average premium to
		settled in the period		book value
30-70%		71% of valuation uplift		79%
replacement cost		achieved through asset		Total Property Return
		management in the period		generated
		CREATE VALUE3
9.6%		38.00p		14.6%
average EPRA NTA per share		Total dividends declared		average Total Accounting
growth p.a				Return p.a

1. Excluding forward funded developments.
2. For assets (including forward developments) acquired and disposed in the 12 months to 30 September 2021
3. Performance from IPO to 30 September 2021.

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