NewRiver Reit (NRR) investor relations material

Executive summary

• Achieved strong operational momentum in Q1 FY27 with continued leasing outperformance, rising occupancy, and high tenant retention, supporting confidence in further rental and capital growth.

• Completed acquisition of JV partner's 90% equity interest in The Moor, Sheffield, at a significant discount to book value, increasing ownership to 100% and concluding the BRAVO capital partnership.

Financial highlights

• Secured £1.8m of annualised rent from 165,900 sq ft of new lettings and renewals across 71 transactions in Q1.

• Long-term transactions completed at +4.0% vs ERV and +19.7% vs prior rent; Core Portfolio outperformed at +5.7% vs ERV and +20.5% vs prior rent.

• Occupancy increased to 95.4% from 95.0% at 31 March 2026; tenant retention remained high at 96%.

• Consumer spending across the portfolio grew by +0.2% in Q1, outperforming the Lloyds data benchmark by 200bps.

• Portfolio Occupancy Cost Ratio remained stable at 7.8%.

Outlook and guidance

• Confident in delivering further rental and capital growth, supported by embedded income growth and recent acquisitions.

• Active FY27 disposal pipeline in place to support a return towards 40% LTV guidance.