SIRIUS REAL ESTATE LIMITED - Fitch Reaffirms Sirius BBB Investment Grade Credit Rating And Stable Outlook

Fitch Reaffirms Sirius’ BBB Investment Grade Credit Rating And Stable Outlook

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

04 November 2024

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

         FITCH REAFFIRMS SIRIUS' BBB INVESTMENT GRADE CREDIT RATING AND STABLE OUTLOOK

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 Fitch Ratings has reaffirmed
the Company's Long-Term Issuer Default Rating (IDR) and senior unsecured rating at BBB, with a 'Stable
Outlook'.

In explaining its rating decision, Fitch highlighted the high yielding nature of the Company's assets, its resilient
occupancy and rental growth due to active asset management, as well as the affordability of the Company's
rents. Fitch also noted Sirius' ability to utilise its in-house digital platform to attract tenants, secure viewings and
promote occupancy, while referencing the Company's enhanced financial profile, with net debt/EBITDA
improving to 6.0x at FYE24 (financial year to end-March).

Sirius will announce its half year results for the six months ended 30 September 2024 on Monday 18 November
2024.

Chris Bowman, Chief Financial Officer at Sirius Real Estate, said: "Fitch's decision to reaffirm Sirius' investment
grade credit rating at BBB is another positive endorsement of the strength of our operating platform, the quality
of our portfolio, as well as the resilience and growth potential of our rental income."

For further information:
Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman, CFO
+44 (0) 20 3059 0855

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

NOTES TO EDITORS
About Sirius Real Estate

Sirius is a property company listed on the equity shares (commercial companies) category of the London Stock
Exchange and the premium segment of 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 31 March 2024, the Group's portfolio comprised 142 assets let to 9,654 tenants with a total book
value of over €2 billion, generating a total annualised rent roll of €194.7 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

Date: 04-11-2024 09:00:00
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