VALUE AND INDEXED PROPERTY INCOME TRUST PLC

NEW PURCHASES, PORTFOLIO UPDATE AND 30 SEPTEMBER 2026 PORTFOLIO VALUATION

Three New Purchases

Value and Indexed Property Income Trust PLC (VIP) has invested £10.2 million over the six months to 30 September 2026 in three freehold property purchases at a net initial yield of 7.8%, with a weighted average unexpired lease term of 30.6 years: 

-     A four screen cinema in Esher, Surrey, let to Everyman Media Group plc for a further 19.1 years with annual RPI-linked rent reviews, capped at 5% and collared at 1% per annum.   

-     A crematorium on a 31 acre site in Great Glen, near Leicester let to Westerleigh Group Holdings Ltd for a further 85.4 years with annual RPI-linked rent reviews, capped at 4% and collared at 1% per annum.   The tenant has the option to buy the property for £1 at the lease end. 

-     A new veterinary practice in Stirling, Scotland, let to Inspiring Vet Care Ltd (IVC) for 20 years with five yearly RPI-linked rent reviews, capped at 3% and collared at 1%.   

Portfolio Update

The portfolio now has 29 properties, all freehold and fully let, with index-related or fixed rent increases, all with compliant EPCs.  The weighted average unexpired lease term (WAULT) has increased to 14.3 years to the earliest break options (from 13.6 years in March 2026).

27% of the portfolio is in supermarkets, 20% industrial/warehouse, 14% in other leisure (health club, caravan park and cinema), 13% garden centre, 10% bowling, 9% hotels, 4% other and 3% pubs.

Over the six months, 10 rent reviews added £0.2 million to total rental income.  No properties were sold. 

Since 1 April 2026, 2,699,500 shares have been issued from Treasury at a premium to NAV at 213.0p per share, while 90,000 have been bought back at 191.0p per share, and held in Treasury.    

Quarterly Valuation at 30 September 2026

The portfolio is valued quarterly by independent valuers, CBRE and Savills, whose combined portfolio valuation as at 30 September 2026 totalled £143,650,000, at a net initial yield of 6.9%. This compares with a portfolio valuation at 30 June 2026 of £138,400,000 (this excludes Leicester and Stirling valued at £5,200,000 together), also at a net initial yield of 6.9%.   Bowling and supermarkets rose modestly in value over the quarter with the garden centre, hotels, health club, cinema, other and pubs all stable. The values of the industrial / warehouse properties and the caravan park were slightly down.  

The portfolio delivered a total return of 1.8% over the quarter, driven entirely by income return.  Over the six month period from 31 March 2026 to 30 September 2026, the portfolio's total return was 3.8% with an income return of 3.6% and a capital gain of 0.2%.

Both these total returns will be ahead of VIP's performance benchmark, the MSCI UK Quarterly Property Index.  After it is published, full details will be contained in VIP's half-yearly results, which will be released in mid-November.

Enquiries:

OLIM Property Limited, Investment Manager

Tel: 020 7846 3252

[email protected]

[email protected]

[email protected]

Maven Capital Partners UK LLP

Company Secretary

Tel: 0141 306 7400

2 October 2026

Important information

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulations (EU) No. 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.