Home REIT (HOME) Trading update summary

Managed wind down

• Sale of the remaining 853 properties completed, generating gross proceeds of £138.8m.

• All subsidiaries entered creditors’ voluntary liquidation; the Board views this as necessary to plan a subsequent return of capital to shareholders.

Ongoing costs

• Q3 2026 general and administrative expenses excluding legal fees were £0.8m, down from £1.5m in Q2 2026.

• September 2026 annualised expenses excluding legal fees were £4.7m, ~£2.1m below FY ended 31 August 2026; target after service-provider realignment is £2.0m–£2.5m p.a.

• Six-month notice under the investment management agreement exercised on 21 October 2026; new AIFM appointment process started, with AEW retained as a consultant after the agreement expires for remaining property and tenant matters.

• Investment advisory fees fall to £120,000 per month from 29 October 2026 and £42,000 per month from 29 January 2027 until contract expiry on 21 April 2027.

Legal costs

• Q3 2026 legal costs were £0.5m, down from £1.2m in Q2 2026; cost control remains a Board focus, with costs subject to matters outside its control.

• FY2026 legal fees were £3.421m, versus £5.295m in FY2025 and £7.106m in FY2024.