Tritax Euro.eur Regulatory News (BOXE)

Sale of asset in Gothenburg, Sweden for SEK 385 million

Tritax EuroBox plc (the "Company"; tickers: EBOX (Sterling), BOXE (Euro)) has successfully exchanged contracts for the disposal of its warehouse asset in Gothenburg, Sweden for a price of SEK 385 million[1] to a leading pan-European real estate investment manager. The sale price is broadly in line with the valuation as at 30 September 2023 and supports the Company's planned disposal programme primarily aimed at reducing the Company's leverage.

Highlights

· The 28,900 sqm building was purchased in June 2021 and is in the port of Gothenburg.

· Headline sale price of SEK 385 million1 is broadly in line with the latest September 2023 external valuation. The deal is conditional on approval in accordance with the Swedish Foreign Direct Investments Act.

· The divestment represents the Company's second disposal in Sweden, following the sale of the asset in Malmo at the end of 2023.

· Proceeds will be mainly used to reduce net debt, as part of the programme to improve balance sheet metrics, as well as providing scope for investment into existing portfolio opportunities.

Overview

The Company acquired the 28,900 sqm prime logistics property in Gothenburg, Sweden in 2021. It is situated in the Gothenburg region, a strategic location between Stockholm, Oslo and Copenhagen. In the Interim Results announcement in May 2023, the Company outlined its intention to undertake asset disposals of at least €150 million over the following 12-18-month period. The programme was launched with two principal aims: namely, to improve balance sheet metrics, particularly reducing the LTV percentage towards the low 40s, and to fund existing opportunities from within the portfolio.

Company commentary

Alina Iorgulescu, Investment Director, Tritax EuroBox plc, commented:

"This transaction marks the fourth successful sale since we announced our disposal programme in May 2023 and takes gross proceeds realised over the past 12 months to c.€173 million. The positive progress made on our disposal programme is testament to our proactive approach while the Gothenburg sale, which was agreed at a price broadly in line with the valuation, underlines the attractiveness of our high-quality portfolio to investors."

Further information

Tritax EuroBox plc

+44 (0) 20 8051 5070Phil Redding - CEOMehdi Bourassi - CFOCharles Chalkly - Investor Relations

Kekst CNC (Media enquiries)

Tom Climie / Guy Bates+44 (0) 7760 160 248 / +44 (0) 7581 056 415 tritax@kekstcnc.com

Notes

Tritax EuroBox plc invests in and manages a well-diversified portfolio of Continental European logistics real estate. These assets fulfil crucial roles in logistics and distribution supply chains, and are located in established logistics markets near major population centres across core Continental European countries.

Our high-quality portfolio is highly sustainable, offers predictable and predominantly inflation-linked income and has opportunities for capital growth through active asset management. These attributes underpin our ability to generate attractive returns for Shareholders over the long term.

The Manager, Tritax Management LLP, has assembled a full-service, pan-European capability for the Company, combining in-house leadership and strategic expertise with close partnerships with leading European developers and asset managers.

The Manager comprises a skilled, diverse team of real estate professionals with expertise across investment, asset management, development, finance, business analysis, research and communications. This is supplemented with specialist, on-the-ground developers, and asset and property managers with strong market standings in the Continental European logistics sector.

Further information on the Company is available at: tritaxeurobox.co.uk

The Company's LEI is: 213800HK59N7H979QU33.