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Real Estate Investors Plc ( “ REI ” , the “ Company ” or the “ Group ” ) Half Year Results For the six months ended 30 June 2026 Q3 SALES MOMENTUM , ONGOING DEBT REPAYMENT & CAPITAL RETURNS TO COMMENCE IN 2027 Real Estate Investors Plc ( AIM : RLE ) , the UK's only Midlands - focused Real Estate Investment Trust ( REIT ) with a portfolio of commercial property across all sectors , is pleased to report its unaudited half year results for the six - month period ended 30 June 2026 ( “ H1 2026 ” ) . FINANCIAL PERFORMANCE REVENUE : H1 2026 revenue of £ 4.6 million ( H1 2025 : £ 4.8 million ) PROFIT : Underlying profit before tax * of £ 1.3 million ( H1 2025 : £ 1.5 million ) ; with a loss before tax of £ 1.3 million ( H1 2025 : £ 0.3 million profit ) , driven by a non - cash revaluation deficit of £ 2.5 million ( H1 2025 : £ 0.8 million deficit ) ( valuations include discounted sales ) EPRA MEASUREMENTS : EPRA ** Net Tangible Assets ( " NTA ” ) per share of 47.6p ( FY 2025 : 49.1p ) and EPRA ** EPS of 0.77p ( H1 2025 : 0.85p ) FULLY COVERED DIVIDEND : Q2 2026 fully covered dividend payment of 0.375p per share ( Q2 2025 : 0.4p per share ) reflecting a yield of 4.8 % based on a mid - market closing price of 31.5p on 28 September 2026 SHAREHOLDER VALUE : Since inception in 2012 , total dividends paid / announced amount to £ 58.1 million CONTINUED BOARD ALIGNMENT : Board shareholdings of an aggregate of 14 % of the Company's issued share capital DISPOSALS , DEBT REPAYMENT & BANKING STEADY DISPOSALS : Sales of £ 10.7 million including £ 1.7 million ( before costs ) completed in H1 2026 ( contracted in 2025 ) and a further £ 9 million completed or unconditionally exchanged since the period end , at 92 % of December 2025 valuations ( on an aggregate basis ) IN SOLICITORS ' HANDS : Additional £ 6.2 million under offer and in legals REDUCING DEBT : £ 3.3 million of debt repayment in H1 2026 , reducing total borrowings to £ 30.9 million ( FY 2025 : £ 34.2 million ) and a further £ 1.8 million repaid since the period end , with total debt now of £ 29.1 million at date of release . Allowing for an unconditionally exchanged property to complete in October 2026 , debt will fall to £ 24 million , before being further reduced by pipeline sales COST OF DEBT : Current cost of debt is 5.75 % ( FY 2025 : 5.75 % ) with all debt being on variable rates CONSERVATIVE GEARING : Loan to value ( net of cash ) is 24.4 % ( FY 2025 : 24.8 % ) CASH AT BANK : £ 4.3 million cash at bank with monies on deposit earning an average of 3.25 % and on instant access OPERATIONAL STABILITY STABLE REMAINING PORTFOLIO : Rent collection for H1 2026 of 98.59 % ( H1 2025 : 99.75 % ) with contracted rental income of £ 7.9 million p.a. ( FY 2025 : £ 8.3 million p.a. ) and occupancy at 76.63 % ( FY 2025 : 78.69 % ) . WAULT *** at 30 June 2026 was 5.83 years to break and 7.63 years to expiry ( FY 2025 : 6.01 years / 7.50 years ) LEASE ACTIVITY : 12 lease events completed , offsetting income loss associated with H1 2026 disposals VALUATIONS : £ 111.5 million gross portfolio valuation ( FY 2025 : £ 115.7 million ) . Like - for - like , the portfolio valuation has reduced by 2.27 % to £ 109.1 million ( FY 2025 : £ 111.6 million ) ( valuations include discounted sales and legal pipeline sales ) POST PERIOD SALES & OCCUPANCY IMPROVED OCCUPANCY : Occupancy improved since period end to 78.83 % from 76.63 % and will improve further to 80.22 % once lettings in pipeline legals complete , subject to further sales and lease events WAULT & INCOME : WAULT now sits at 4.38 years to break and 6.00 years to expiry and contracted rental income is currently at £ 7.7 million p.a , ( reflecting loss of income from recent disposals ) ASSET MANAGEMENT : Letting legal pipeline of £ 188,275 p.a FURTHER DISPOSALS : £ 9 million completed / unconditionally exchanged since 30 June 2026 , bringing total year - to- date contracted / unconditionally exchanged disposals , combined with current sales in solicitors hands , to £ 16.9 million REDUCING DEBT : Further £ 1.8 million repaid since the period end , with total debt now at £ 29.1 million ( allowing for a deferred completion due in October 2026 , debt will reduce to £ 24 million ) ACTIVELY MARKETING : £ 44.2 million remains in or on the market where asset management initiatives have been completed BALANCE OF PORTFOLIO : Subject to ongoing asset management initiatives to maximise disposal value PAUL BASSI , CHIEF EXECUTIVE , COMMENTED :