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1 October 2026 Primary Health Properties PLC ( " PHP " , the " Group " or the " Company " ) Q3 Update on rental growth and joint ventures Primary Health Properties PLC , a leading investor in critical healthcare infrastructure in the UK and Ireland , today publishes an update for the period to 30 September 2026 demonstrating continued rental growth , positive momentum in asset management and risk - controlled development and progress on our joint venture transactions . Mark Davies , CEO of PHP , commented : " PHP's portfolio of critical healthcare infrastructure assets is defined by the security and longevity of rental income from GPs , the NHS , the HSE in Ireland and proven private healthcare operators , giving our sector attractive investment characteristics . We continue to deliver rental growth slightly ahead of our guidance and are encouraged by recent investment transactions in our sector at supportive valuations . " We remain focused on completing the previously announced deleveraging plan and we are pleased to report that key transactions with our joint venture partners remain on track . " Rental growth remains ahead of guidance The Company continues to see an improving rental growth outlook , especially from rent reviews , with an extra £ 5.8 million of income generated in the first 9 months of the year from 480 completed reviews . This represents a total increase of 6.1 % over the previous rent of £ 96 million , equivalent to 3.1 % ( target : > 3 % ) on an annualised basis . All parts of the enlarged portfolio are performing very well with Primary Care UK + 2.8 % , Private Hospitals + 3.7 % and Ireland + 3.7 % . Active asset management and development The Government remains committed to the NHS 10 - year plan and the creation of new Neighbourhood Health Centres , aiming to increase both the capacity for , and range of , healthcare services in a primary care setting and to relieve the pressure on NHS hospitals . PHP offers both the asset management and development capability to deliver this essential improvement in critical healthcare infrastructure over the coming years for the benefit of patients , health occupiers and investors . We have recently completed significant asset management projects at our assets in Wakefield and Yeovil , both of which increase clinical space to enhance healthcare services and set a positive rental tone in the locality , and we continue to target further value generating asset management projects . This includes opportunities in private hospitals , such as the £ 6.5 million extension to Tees Valley Hospital in Middlesborough that has moved on site in the quarter . PHP is currently on site with five new build development projects across the UK and Ireland , which all remain on track for completion on time and on budget . Our enhanced development capability means we have a growing pipeline of risk - controlled development opportunities across the UK , including a number of schemes meeting the criteria of Neighbourhood Health Centres and a strategic partnership with East of England Ambulance Service Trust for the delivery of new ambulance hubs , that are expected to be funded through the existing primary care joint venture . Joint venture transactions remain on track PHP has made further progress on its joint ventures since the Interim Results in late July . The transactions remain on track with financial terms agreed and due diligence complete . A further update will follow shortly . Proceeds from the sale of assets into joint ventures will be used to pay down debt . The Company remains focused on bringing the key debt metrics of Net Debt to EBITDA below 9.5 times and LTV below 50 % . The Company is pleased to have completed the integration of Assura during the period and expects to deliver its financial synergies ahead of plan . PHP's portfolio of modern healthcare buildings , which act as essential infrastructure for the delivery of healthcare services in the UK and Ireland , offer secure and growing rental income in a market benefitting from long - term structural demand . With a strong track record of cost control , with one of the lowest EPRA cost ratios in the sector and a disciplined approach to liability management , PHP is proud to be in its 30 th consecutive year of delivering dividend growth for investors and remains committed to a progressive covered dividend policy .