NewRiver Regulatory News (NRR)

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During Q3 completed 234,500 sq ft of new lettings and renewals, securing £2.1 million in annualised income across 98 transactions; long-term transactions were completed in-line with ERV and +56.9% vs prior rent

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Key leasing transactions in Q3 include deals with Boots and B&M in Middlesbrough and H&M in Bexleyheath

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Year to date completed 650,800 sq ft of leasing, with long-term transactions +8.2% vs ERV and +31.1% vs prior rent

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Ongoing constructive discussions to mitigate the impact of H1 retailer restructurings and no subsequent restructurings announced

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Occupancy increased to 96.1% (vs 95.3% at 30 September 2025) and retailer retention rate remains high at 91%

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Total in-store customer spending in the important Christmas quarter was in-line with last year. We saw strong performance in Grocery which is our largest spending segment with +6.2% vs same quarter last year

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Total in-store customer spending for the year to December 2025 was also in-line with last year; Non-Food Discount delivered +7.2% sales growth, F&B +4.0% and Health & Beauty +2.4%, offsetting some weakness in Value Fashion at -1.1%

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As of 1 April 2026, the new rateable values across our portfolio are expected to increase by 7%, which is more than offset by the recently announced discount for retail, hospitality, and leisure properties, resulting in an 11% reduction in rates payable for our tenants. This is positive for our tenants and supports our rental affordability

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Snozone performance ahead of prior year and budget with Q3 delivering EBITDA of £2.0 million vs loss of £1.6 million in H1 due to seasonality; year to date EBITDA £0.4 million, again ahead of prior year and budget with most profitable quarter to come in Q4

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During Q3, completed the disposals of The Marlowes in Hemel Hempstead and Sprucefield Retail Park in Lisburn for combined proceeds of £12.6 million (NRR share); The Marlowes was the smallest asset acquired as part of the Capital & Regional transaction, accounting for 2% of the acquired portfolio by value; Sprucefield Retail Park was held in our Capital Partnership with BRAVO and its disposal means only one asset remains in this partnership (The Moor in Sheffield)

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In January 2026, exchanged contracts on the disposal of Cuckoo Bridge Retail Park in Dumfries for proceeds of £26.5 million, subject to conditions expected to be discharged during Q4

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In December 2025, entered into a conditional agreement to form a JV with Mid Sussex District Council to deliver the mixed-use regeneration of The Martlets shopping centre in Burgess Hill, Mid Sussex; the JV is expected to be formalised by the end of March 2026 once a series of conditions have been realised, including the sale of the residential site which is under offer, and pre-lets of the food store and hotel for which the legal negotiations are well advanced

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In January 2026, agreement for lease signed with experiential leisure operator on c.80,000 sq ft which will re-position the Capitol Centre in Cardiff as a Core asset and reduces the portfolio weighting to Work Out and Other to 1% from 3% at 30 September 2025

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NewRiver analysis, informed by Lloyds Bank data on customer spend representing 94% of the portfolio by value. Christmas period includes the 3 months to December

NewRiver REIT plc

+44 (0)20 3328 5800

Allan Lockhart (Chief Executive)

Will Hobman (Chief Financial Officer)

FTI Consulting

+44 (0)20 3727 1000

Dido Laurimore

Eve Kirmatzis