Custodian Property Income REIT (CREI) investor relations material

Executive summary

• Active asset management and a diversified portfolio drove rental growth and supported a fully covered dividend, maintaining an attractive yield of approximately 7%.

• Portfolio reversionary potential increased to 15% after a 1% like-for-like ERV rise in Q1, with further upside expected from upcoming lease events.

• Resilient occupier demand and positive rental growth were observed across all real estate sectors, including high street and regional offices.

• The company remains focused on sustainable dividend growth and selective corporate acquisitions to scale operations.

Financial highlights

• Q1 EPRA EPS was 1.5p, matching the previous quarter.

• Dividend per share of 1.5p for Q1, fully covered by EPRA earnings, with a target of at least 6.0p for FY27.

• NAV increased to £489.0m (100.0p per share) at 30 June 2026, up from £486.7m (99.7p per share) at 31 March 2026.

• Portfolio valued at £671.6m, with a like-for-like valuation increase of 0.1% in Q1, net of £1.1m capital expenditure.

• Q1 NAV total return per share was 1.8%.

Outlook and guidance

• Targeting a dividend per share of no less than 6.0p for the year ending 31 March 2027.

• Continued focus on asset management and capturing embedded rental growth through lease events.

• Plans to invest in the existing portfolio and pursue selective acquisitions to drive earnings and dividend growth.