NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

28 April 2026

Home REIT plc

("HOME" or the "Company" and together with its four subsidiaries, the "Group")

Restoration of Listing and Trading Update

The Company announces that following the publication of all outstanding financial information required under the UK Listing Rules and its subsequent application to the FCA, the restoration of its listing and the recommencement of trading in its shares on the London Stock Exchange is due to take effect at 7.30 a.m. on 29 April 2026. 

Financial Position

On 1 April 2026, the Company announced completion of the disposal of 706 properties to Patron Capital for net proceeds of £119.2 million. The Company has received £94.2m and an additional deferred payment of £25m will be received on 1 April 2027 which is not subject to any conditions or deductions and is secured by a bank guarantee.

The remaining properties in the Company's portfolio were valued at £17.35m in the valuation report prepared by Jones Lang LaSalle as at 31 August 2025. On 26 March 2026, the Company exchanged on the sale of 29 of these properties for an aggregate gross consideration of £4.67m, in line with their valuation as at 31 August 2025, with completion expected at the end of April. The vast majority of the remaining 115 properties are expected to be sold by 30 June 2026.

As at 27 April 2026, being the latest practicable date prior to this announcement, the Company had £3.8m of unrestricted cash and £94.2m held in short-term cash securities, such as low duration UK government bonds and money market funds.

In the first calendar quarter of 2026 the Group incurred between £0.9m and £1.1m per month in operating expenses, primarily legal and management fees. The Group expects certain costs to decrease as remaining properties are sold, however, legal fees are expected to remain material. 

¹ Excluding deferred payment of £25m which will be received on 1 April 2027 and gross proceeds of £4.67m from property sales exchanged but not yet completed

Return of Capital

The Company has previously indicated that the ability of the Company to make distributions to shareholders continues to be constrained whilst the Company faces potential group litigation or other claims.

A pre-action letter of claim was sent to the Company by Harcus Parker Limited on behalf of certain current and past shareholders of the Company in October 2023. No legal proceedings have been issued at this stage and correspondence is continuing between the parties. The Company continues to incur significant costs defending itself and its former directors from shareholder related potential litigation, which will ultimately affect any return of capital to shareholders.  

As announced on 13 February 2024, the Company was notified by the Financial Conduct Authority of its commencement of an investigation into the Company, covering the period from 22 September 2020 to 3 January 2023.

As announced on 1 April 2026, the Company considers any return of capital to Shareholders should be made via, and would therefore follow the commencement of, any liquidation process. Ernst & Young LLP continue to advise on preparations for the Company to enter a solvent member's voluntary liquidation. Any future proposal by the Company to enter liquidation remains subject to:

(a) alignment with the continued Managed Wind-Down of the business, including the sale of remaining properties in the portfolio, with a view to maximising realisations for the benefits of all stakeholders;

(b) continued engagement with key stakeholders, including shareholders of the Company, the FCA and SFO; and

(c) a detailed assessment of the financial position of the Company and its subsidiaries at the time of any future resolution(s) put to shareholders for the Company to enter liquidation, supported by professional advice.

The listing of the Company's shares would subsequently be cancelled in conjunction with any liquidation process.

Further announcements will be made in due course.

Financial Reporting

The Company expects to publish its interim accounts for the period ended 28 February 2026 by the end of May 2026.

FOR FURTHER INFORMATION, PLEASE CONTACT:

The Company's LEI is: 213800A53AOVH3FCGG44.

For more information, please visit the Company's website: www.homereituk.com

Important information 

AEW UK Investment Management LLP (the "Manager") has conducted a target market assessment prior to the resumption of trading.  While formerly assessed as suitable for Retail investors, shares in the Company have not been distributed or marketed since their suspension in January 2023. The Manager and board's view is that the Company' shares are no longer suitable for retail investors.  For the purposes of the Consumer Duty, the Company's shares remain a "closed product".  Accordingly, the only retail investors within the target market are the existing retail investors holding shares.

Certain information in this announcement may constitute "forward-looking statements", which can be identified by the use of terms such as "may", "will", "would", "could", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "plan", "goal", "aim" or "believe" (or the negatives thereof) or other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. These statements are based on assumptions and assessments made by the Company, in light of its experience and its perception of historical trends, current conditions, future developments and other factors it believes appropriate. By their nature, forward-looking statements involve inherent risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. No representation or warranty is made as to the achievement or reasonableness of and no reliance should be placed on such forward-looking statements. The Company does not undertake any obligation to update or revise any forward-looking statement to reflect any new information or change in circumstances or in the Company's expectations, except to the extent required by applicable law or regulation.