SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Property portfolio valuation

Property portfolio valuation

Schroder European Real Estate Investment Trust PLC
(Incorporated in England and Wales)
Registration number: 09382477
JSE Share Code: SCD
LSE Ticker: SERE
ISIN number: GB00BY7R8K77
 (the "Company")

14 April 2026

                           PROPERTY PORTFOLIO VALUATION

            ACTIVE MANAGEMENT SUPPORTING PORTFOLIO VALUATION

Schroder European Real Estate Investment Trust plc, the Company investing in real
estate in European growth cities, today provides a valuation update of its property
portfolio as at 31 March 2026:

•   The property portfolio was independently valued at €192.6 million (31 December
    2025: €194.0 million), reflecting an overall valuation decline of €1.4 million, or -0.7%,
    during the quarter.
•   However, individual assets showed a more varied performance, with Rumilly and
    Stuttgart delivering strong valuation growth off the back of successful lease
    extensions, which was offset by the impact of tenant-related setbacks on other
    assets, particularly in Alkmaar and Cannes:
        o Rumilly logistics valuation increased by €2.0 million, or 19%, reflecting the
           completion of an income accretive 10-year lease extension (break after seven)
           with the asset's sole tenant.
        o Stuttgart office valuation increased by €1.1 million, or 6%, primarily due to the
           completion of a new 10-year annually indexed lease with the asset's largest
           tenant, the State of Baden-Württemberg, 18% ahead of the previous passing
           rent.
        o Alkmaar industrial valuation reduced by €3.2 million, or -31%, driven by the
           asset's sole tenant ceasing operations and not fulfilling its long-term lease
           obligations due to financial difficulties.
        o Cannes car showroom valuation decreased by €0.9 million, or -13%, due to
           shortening lease terms and capex assumptions, following the asset's sole
           tenant recently issuing notice for departure in September 2026.
•   Previous valuations of the mixed-use data centre in Apeldoorn had already
    anticipated KPN's departure at the end of 2026. Consequently, the quarterly decline
    of €0.7 million, or -6%, is attributable solely to the shortening of the lease term.

                                           -Ends-
Enquiries:

Jeff O'Dwyer                                                    Tel: 020 7658 6000
Schroder Real Estate Investment Management Limited

Natalia de Sousa                                                Tel: 020 7658 6000
Schroder Investment Management Limited

Richard Gotla/Oliver Parsons                                    Tel: 020 3727 1000
FTI Consulting


The Company has a primary listing on the London Stock Exchange and a secondary listing
on the JSE Limited.

 JSE Sponsor
 PSG Capital

Date: 14-04-2026 08:00:00
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