SIRIUS REAL ESTATE LIMITED - Sirius Issues 59.9m Of New Notes In Bond Tap To Its 300 Million 1.75% Notes Due 2028

Sirius Issues €59.9m Of New Notes In Bond Tap To Its €300 Million 1.75% Notes Due 2028

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES,
CANADA OR JAPAN.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU NO. 596/2014), AS IT FORMS PART OF THE UNITED KINGDOM
DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54


17 May 2024
                                      Sirius Real Estate Limited
                  
                   ("Sirius Real Estate", "Sirius", the "Group" or the "Company")

      Sirius issues €59.9m of new notes in bond tap to its €300 million 1.75% notes due 2028

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing
conventional space and flexible workspace in Germany and the U.K., announces that it has issued
€59.9 million nominal value of notes (the "Issuance") to be consolidated and form a single series with
the €300 million 1.75% bonds due November 2028, issued originally on 18 November 2021
(ISIN: XS2412732708) (the "11/2021 Notes"). The new notes (the "New Notes") were priced in line
with current trading levels and represent a 19.9% tap of the 11/2021 Notes. Net LTV will remain within
Sirius' guidance of 40% or below.

The Issuance was supported by a single existing international institutional investor and follows strong
demand for both Sirius' initial corporate bond issuance in June 2021, and the 11/2021 Notes.

The proceeds of the New Notes will be used towards the Company's significant pipeline of potential
acquisitions in Germany and the U.K., as well as general corporate purposes.

Chris Bowman, Chief Financial Officer of Sirius Real Estate, commented: "This tap Issuance follows
our successful €165 million (£147 million) equity raise last November and further demonstrates the
continued appeal of our strategy, platform and portfolio to both credit and equity investors. The
Issuance followed an approach from an existing large institutional investor wishing to support our long
term strategy. The proceeds will help us to continue executing our value-add growth plan whilst
remaining within our net LTV guidance of 40% or below, as we take advantage of the strong demand
for our real estate product."

                                                ENDS

For further information:
Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman, CFO
+49 (0) 30 285 010 110

FTI Consulting (Financial PR)
Richard Sunderland / James McEwan / Talia Shirion / Millie James
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com

NOTES TO EDITORS
About Sirius Real Estate

Sirius is a property company listed on the main and premium market of the London Stock Exchange
and the main board of the JSE Limited. It is a leading owner and operator of branded business and
industrial parks providing conventional space and flexible workspace in Germany and the U.K. As of 30
September 2023, the Group's portfolio comprised 139 assets let to 9,248 tenants with a total book
value of over €2 billion, generating a total annualised rent roll of €184.2 million. Sirius also holds a 35%
stake in Titanium, its €350+ million German-focused joint venture with clients of AXA IM Alts.

The Company's strategy centres on acquiring business parks at attractive yields and integrating them
into its network of sites - both under the Sirius and BizSpace names and alongside a range of branded
products. The business then seeks to reconfigure and upgrade existing and vacant space to appeal to
the local market via intensive asset management and investment and may then choose to refinance or
dispose of assets selectively once they meet maturity, to release capital for new investment. This active
approach allows the Company to generate attractive returns for shareholders through growing rental
income, improving cost recoveries and capital values, and enhancing returns through securing efficient
financing terms.

For more information, please visit: www.sirius-real-estate.com

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/

Follow us on X (Twitter) at @SiriusRE

JSE Sponsor
PSG Capital

Disclaimer

This announcement is not for publication or distribution, directly or indirectly, in or into the United States
of America. This announcement is not an offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption
from registration. No public offering of securities is being made in the United States.

This publication does not constitute an offer to sell or the solicitation of an offer to purchase any securities.
Neither this publication nor anything contained herein shall form the basis of, or be relied upon in
connection with, any offer or commitment whatsoever in any jurisdiction.

This publication is only being distributed to, and is only directed at persons that are, outside the United
Kingdom or, if within the United Kingdom, to (i) persons who have professional experience in matters
relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended, the "Financial Promotion Order"), or (ii) persons falling within Article
49(2)(a) to (d) ("high net worth companies, "unincorporated associations", etc.) of the Financial Promotion
Order, or (iii) persons to whom an invitation or inducement to engage in investment activity (within the
meaning of section 21 of the Financial Services and Markets Act 2000 ("FSMA")) in connection with the
issue or sale of the bonds may otherwise lawfully be communicated or caused to be communicated (all such
persons together being referred to as "relevant persons"). The bonds are only available to, and any
invitation, offer or agreement to subscribe, purchase or otherwise acquire such bonds will be engaged in
only with, relevant persons. Any person who is not a relevant person should not act or rely on this
announcement or any of its contents. The bonds are not being offered to the public in the United Kingdom.
As a consequence, no key information document required by Regulation (EU) 1286/2014 as it forms part of
domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the bonds or
otherwise making them available to retail investors in the UK has been prepared and therefore offering or
selling the bonds or otherwise making them available to any retail investor in the UK may be unlawful under
the UK PRIIPs Regulation.

The securities referred to herein are not intended to be offered, sold or otherwise made available to and
should not be offered, sold or otherwise made available to any retail investor in the European Economic
Area (the "EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail
client as defined in point (11) of Article 4(1) of Directive (EU) 2014/65 (as amended, "MiFID II"); (ii) a
customer within the meaning of Directive (EU) 2016/97 as amended, where that customer would not qualify
as a professional client as defined in point (10) of Article 4(1) of MiFID II or (iii) not a qualified investor as
defined in Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 (as
amended, the "Prospectus Regulation"). Consequently, no key information document required by
Regulation (EU) 1286/2014 (as amended or superseded, the "PRIIPs Regulation") for offering or selling the
bonds or otherwise making them available to retail investors in the EEA has been prepared and therefore
offering or selling the bonds or otherwise making them available to any retail investor in the EEA may be
unlawful under the PRIIPs Regulation.

Date: 17-05-2024 08:00:00
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