SIRIUS REAL ESTATE LIMITED - Results of Capital Raise

Evidence from the filing

• The capital raise successfully secured funds to execute on two attractive acquisition opportunities in Germany, valued at approximately €130m, strategically focusing on defence-related assets and tenants, thereby expanding exposure to a fast-growing sector.

  “The Capital Raise set out in the Company's announcement of 16 February 2026 ("Capital Raise Announcement"), the net proceeds of which enables the Company to execute on two attractive acquisition opportunities in Germany with a particular focus on defence-related assets and tenants in the near term, with an estimated total value of approximately €130m (£113m).”

• The Offer Price of 102.0 pence represented a premium of approximately 1.0 per cent. to the prior day's closing share price and 1.4 per cent. to the thirty-day volume weighted average price, signaling strong market confidence in Sirius's valuation and future potential.

  “The Offer Price of 102.0 pence represents a premium of approximately 1.0 per cent. to the closing share price of 101.0 pence on 16 February 2026 and a premium of approximately 1.4 per cent. to the thirty-day volume weighted average price on the JSE of 100.6 pence as at 16 February 2026.”

• The fundraise was significantly oversubscribed and garnered strong support from both new and existing shareholders, indicating robust investor demand and validation of the Company's strategic growth initiatives.

  “The success of this fund raise, which was multiple times oversubscribed and was priced in line with our latest adjusted NAV, demonstrates the continued support amongst the investment community for our strategy, the quality of our existing portfolio, as well as the opportunity for further growth from our pipeline. The Company is pleased by the strong support it has received from new and existing shareholders.”

• Management has articulated a clear path to growth by committing to achieve a recently increased medium-term FFO target of €175m, providing a strong signal of anticipated future earnings growth and operational excellence.

  “We will continue to progress our pipeline with a firm focus on disciplined capital allocation and recycling to achieve our recently increased medium term FFO target of €175m.”

• The capital raise results in a material 5.0 per cent dilution of the existing ordinary share capital, which directly reduces the per-share value for existing equity holders.

  “The Offer Shares represent approximately 5.0 per cent. of the existing issued ordinary share capital of the Company prior to the Capital Raise.”

• Funds have been raised for acquisition opportunities that are not yet legally secured, with the announcement stating they are "expected to be notarised in the coming weeks and completed in Q2 2026, subject to finalising due diligence."

  “Use of proceeds To enable the Company to execute on two attractive near-term defence-related acquisition opportunities in Germany totalling approximately €130m (including acquisition costs) on which the Company is currently in exclusivity and which are expected to be notarised in the coming weeks and completed in Q2 2026, subject to finalising due diligence.”

• The extensive disclaimers explicitly state that "No representation or warranty is made as to the achievement or reasonableness of, and no reliance should be placed on, such forward-looking statements" and that the Company disclaims "any obligation or undertaking to update or revise publicly any forward-looking statements," placing the full burden of uncertainty and future performance risk squarely on investors.

  “No representation or warranty is made as to the achievement or reasonableness of, and no reliance should be placed on, such forward-looking statements. No statement in this Announcement is intended to be, nor may it be construed as, a profit forecast or be relied upon as a guide to future performance. The forward-looking statements contained in this Announcement speak only as of the date of this Announcement. The Company, its directors, the Banks, PSG Capital their respective affiliates and any person acting on its or their behalf each expressly disclaim any obligation or undertaking to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by applicable law or regulation, the FCA, the London Stock Exchange or the JSE.”

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