Home REIT (HOME) Trading Update summary

Financial position update

• Cash balance as of 30 April 2025 was £10.5m, with no outstanding debt after full loan repayment.

• Average monthly gross rent received in 2025 is £1.0m, with April rent at £1.1m; split between operating leases (£0.37m) and management agreements (£0.74m).

• Cash and rental income are expected to cover operational expenses and fees during the managed wind-down.

• Portfolio consists of 857 properties, including 5 exchanged for sale.

Asset management and wind-down strategy

• AEW continues to actively manage the portfolio, focusing on asset liquidity, health, and safety compliance.

• Managed wind-down strategy is progressing, with a significant marketing campaign attracting strong interest.

• Non-binding offers for the full portfolio were received in February; sale completion is anticipated in Q3 2025.

Market and valuation update

• UK residential market remains attractive to investors despite economic and geopolitical uncertainties.

• JLL's unaudited fair value of the property portfolio as of 28 February 2025 is £169.0m, 97% underwritten by vacant possession value.