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

FOR IMMEDIATE RELEASE

28 November 2024

Home REIT plc

("Home REIT" or the "Company")

Repayment of Debt

 On 23 October 2024, the Company announced that, following the October property auctions, sufficient proceeds to fully repay the outstanding Scottish Widows loan would be realised upon completion of the outstanding sale properties. The Company is pleased to report that, following the completion of sales in November, it has now made full repayment of the loans to Scottish Widows. The final repayment of £28.6m was made on 27th November 2024, comprising a £24.9m cash repayment and a net break gain of £3.7m. A further payment will be made to Scottish Widows in December in respect of the additional fees, which amount to approximately £9 million, at which point the lender will release its charge over the Company's assets.

Since August 2023, the Company has completed or exchanged on the sale of 1,623 properties, with the total gross proceeds from properties sold and exchanged in aggregate in line with JLL's August 2023 and February 2024 draft valuations.  The Company's remaining property portfolio of 850 assets is currently being marketed for sale, quoting in excess of £175m.

Michael O'Donnell, Non-Executive Chairman of Home REIT, said:

"The full repayment of the debt facility with Scottish Widows is a significant step forward for the Company as we deliver the managed wind down strategy. The Company is now focused upon realising its remaining property assets and on the subsequent return of capital to shareholders in due course."

FOR FURTHER INFORMATION, PLEASE CONTACT:

The Company's LEI is: 213800A53AOVH3FCGG44.

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