Stoneweg European REIT (CWBU) AGM 2026 summary

Opening remarks and agenda

• AGM held on 28 April 2026, focusing on FY2025 performance, strategy, and outlook.

Financial performance review

• Portfolio valued at €2.3 billion, anchored by logistics, light industrial, and data centres across Western Europe and Nordics.

• FY2025 like-for-like NPI growth of 5.0%, supporting distributions of 13.39 Euro cents.

• Portfolio occupancy at 92.8% with over 750 tenants; no tenant exceeds 4% of income.

• NAV stabilised after 2022-2024 correction, with four consecutive periods of valuation uplift.

• Utility cost inflation largely passed through to tenants; SERT-borne utility costs remain below 0.5% of opex.

Dividend announcements

• FY2026 distribution per security (DPS) expected to be broadly in line with FY2025 at 13.39 Euro cents.

• €41 million in realised capital gains available to supplement distributions.