Assura (AGR) Trading Update summary

Portfolio activity and growth

• Acquired 14 private hospitals for £500 million and completed 5 development projects with £61.5 million spend.

• Established a £250 million joint venture with USS, seeding 13 properties for £159 million and one more for £13 million.

• Disposed of 17 properties for £28 million, aligning with book values.

• Portfolio now includes 603 properties, annualised rent roll of £177.9 million, and WAULT of 12.7 years.

• Investment property value increased to £3.1 billion, with a valuation uplift of £58 million.

Operational performance

• Rent reviews: approximately 53% OMR, 47% indexed, fixed, or other.

• Weighted average annual rent uplift of 3.2% from reviews.

• Like-for-like rent roll increase of 6.1% on £79.9 million reviewed.

• Annual equivalent uplift: 2.2% on OMR, 4.1% on RPI, 3.5% on other.

Financial position and capital structure

• Net assets expected at £1,640 million as of 31 March 2025.

• EPRA NTA per share at 50.4 pence, up from 49.3 pence.

• Net debt stands at £1,487 million, fully unsecured, with £58.1 million cash and £174 million undrawn facilities.

• Loan-to-value (LTV) ratio at 46.9%.