SIRIUS REAL ESTATE LIMITED - Sirius to acquire defence-anchored business park in Kiel for 93.4 million

Sirius to acquire defence-anchored business park in Kiel for €93.4 million

SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54

30 March 2026

                                       Sirius Real Estate Limited

                    ("Sirius Real Estate", "Sirius", the "Company" or the "Group")

              Sirius to acquire defence-anchored business park in Kiel for €93.4 million

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing
conventional space and flexible workspace in Germany and the U.K., has notarised the acquisition of
a business park in Kiel, Germany, for €93.4 million (including acquisition costs), adding another defence
anchored asset to its portfolio. The property is predominantly let to Rheinmetall, Germany's largest
defence company, together with a number of other companies in the defence, infrastructure, testing
and automation sectors.

Located in Kiel, the capital of the state of Schleswig-Holstein in northern Germany and one of the
country's strategic defence hubs. The property sits on a 226,600 sqm plot and offers a gross lettable
area of 78,170 sqm. It comprises production and warehouse, office and laboratory space.

The purchase terms reflect an EPRA Net Initial Yield of 8.2%, and the business park, which is currently
98.5% occupied, generates €7.78 million of annual rental income, with a weighted average lease expiry
(WALE) of 4.0 years.

Rheinmetall undertakes research and development of electrical systems for land vehicles at the site,
an area of significant growth for the company, while the second largest tenant on site produces rail
locomotives for European use.

The acquisition also includes a 955 sqm development which is on site and due to complete in 2027. At
this time, an existing tenant, specialising in systems automation and robotics integration, will take
occupation of a new building under a new 10-year lease, further enhancing the asset's rent roll.

Situated on Germany's Northern Coast leading directly into the Baltic Sea, Kiel is a major maritime
industrial defence and transport hub, with its port and shipyard area and natural inlet making it a
strategic logistics and manufacturing base for the German Navy, as well as the commercial maritime
industry.

This acquisition further bolsters Sirius' portfolio of industrial estates let to businesses in the defence-
related sectors, with over €200 million invested into this sub-sector in Germany and the U.K. over the
past 12 months. Recent acquisitions include a business park in Feldkirchen, Munich, which is
predominantly let to a company specialising in laser-defence technology, alongside a business park in
Bedford, U.K. which is used by an electric components manufacturer to make component parts for
ejector seats in modern military jets.

The Group continues to progress further asset acquisitions in Germany and looks forward to updating
the market on another successful year of growth in its year end trading update, scheduled for release
on Monday, 13 April 2026.

Andrew Coombs, Chief Executive Officer of Sirius Real Estate, commented: "The acquisition of this
multi-let business park delivers immediate income and offers further significant potential to improve
rental tone, extend the WALE and drive further revenue growth through on-site development. This site
is anchored by Rheinmetall, Germany's largest defence company and is strategically located close to
one of Germany's major naval bases in Kiel. This acquisition also adds to our broader portfolio of
defence-related properties, further positioning the business to support the projected increase in
government investment into defence and the resulting growth in occupier demand across the sector."


                                                   ENDS


For further information:

Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman, CFO
+44 (0) 20 3059 0855

FTI Consulting (Financial PR)
Richard Sunderland / Giles Barrie / Ellie Sweeney / Talia Shirion
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the equity shares (commercial companies) category of the
London Stock Exchange and the premium segment of the main board of the JSE Limited. It is a leading
owner and operator of branded business and industrial parks providing conventional space and flexible
workspace in Germany and the U.K. As of 30 September 2025, the Group's portfolio comprised 153
assets let to 10,958 tenants with a total book value of €2.8 billion, generating a total rent roll of €242.5
million. Sirius also holds a 35% stake in Titanium, its €350+ million German-focused joint venture with
clients of AXA IM Alts.

The Company's strategy centres on acquiring business parks at attractive yields and integrating them
into its network of sites - both under the Sirius and BizSpace names and alongside a range of branded
products. The business then seeks to reconfigure and upgrade existing and vacant space to appeal to
the local market via intensive asset management and investment and may then choose to refinance
or dispose of assets selectively once they meet maturity, to release capital for new investment. This
active approach allows the Company to generate attractive returns for shareholders through growing
rental income, improving cost recoveries and capital values, and enhancing returns through securing
efficient financing terms. For more information, please visit: www.sirius-real-estate.com

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/ or on X (Twitter) at
@SiriusRE

JSE Sponsor

PSG Capital

Date: 30-03-2026 03:00:00
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