09 Jun - 4 min read

Inaugural 5-Year Bond Offering

Inaugural 5-Year Bond Offering

(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (EUR) Share Code: ESRE
LSE (GBP) Share Code: SRE

9 June 2021

                                       Sirius Real Estate Limited

                                     ("Sirius" or the "Company")

                                    Inaugural 5-Year Bond Offering

Sirius Real Estate Limited (rated BBB (Stable) by Fitch), a leading operator of branded business parks
providing conventional and flexible workspace, focussed on the German SME market, has mandated
Deutsche Bank, HSBC and Morgan Stanley as Joint Bookrunners to arrange fixed-income investor calls
commencing 9 June. A NetRoadshow presentation (including voiceover) will be made available at
www.netroadshow.com (Passcode: Sunshine2589). Morgan Stanley is coordinating logistics.

An inaugural €300 million expected Regulation S, fixed-rate, senior unsecured 5-year bond transaction
may follow, subject to market conditions. The notes are expected to be rated BBB by Fitch. The
proceeds of the potential bond offering will be used to refinance certain existing indebtedness and for
general corporate purposes (including the financing of future acquisitions).

Relevant stabilisation regulations including Financial Conduct Authority/International Capital Markets
Association will apply. Manufacturer target market (Markets in Financial Instruments Directive II and
UK Markets in Financial Instruments Regulation product governance) is eligible counterparties and
professional clients only (all distribution channels). No EU packaged retail investment and insurance
products or UK Packaged retail investment and insurance products key information document (KID)
has been prepared as not available to retail in the EEA or in the UK.

Advertisement: This communication is an advertisement for the purposes of Regulation (EU)
2017/1129 and underlying legislation. It is not a prospectus. The Final Prospectus relating to the
securities, when published, will be available at https://www.bourse.lu.

Sirius Real Estate Limited investor call representatives:
Alistair Marks – Chief Financial Officer
Kremena Wissel – Chief Marketing and Impact Officer

For further information:
Sirius Real Estate
Andrew Coombs, CEO / Alistair Marks, CFO
+49 (0) 30 285010110

FTI Consulting (Financial PR)
Richard Sunderland / Claire Turvey / James McEwan / Talia Jessener
+44 (0) 20 3727 1000


About Sirius Real Estate
Sirius is a property company listed on the main market and premium segment of the London Stock
Exchange and the main board of the JSE Limited. It is a leading operator of branded business parks
providing conventional space and flexible workspace in Germany. The Company’s purpose is to create
and manage optimal workspaces that empower small and medium-sized businesses to grow, evolve
and thrive. Sirius seeks to unlock the potential of its people, its properties, and the communities in
which it operates, so that together we can create sustainable impact, and long-term financial and
social value.

The Company's core strategy is the acquisition of business parks at attractive yields, the integration of
these business parks into its network of sites under the Company's own name as well as offering a
range of branded products within those sites, and the reconfiguration and upgrade of existing and
vacant space to appeal to the local market, through intensive asset management and investment. The
Company's strategy aims to deliver attractive returns for shareholders by increasing rental income and
improving cost recoveries and capital values, as well as by enhancing those returns through financing
its assets on favourable terms. Once sites are mature and net income and values have been optimised,
the Company may take the opportunity to refinance the sites to release capital for investment in new
sites or consider the disposal of sites in order to recycle equity into assets which present greater
opportunity for the asset management skills of the Company's team.

Sirius also has a venture with clients represented by AXA IM Alts. Titanium was formed through the
acquisition by AXA IM Alts, on behalf of its clients, from Sirius, of a 65% stake in five business parks
across Germany. Sirius retained the remaining 35%. The venture seeks to grow primarily through the
acquisition of larger stabilised business park assets and portfolios of assets with strong tenant profiles
and occupancy. As well as its equity interest, Sirius acts as operator of the assets in the venture, on a
fee basis. Sirius will continue to grow its wholly owned portfolio through acquisitions of more
opportunistic assets, where it can capitalise on its asset management expertise to maximise utilisation
of the space, grow occupancy and improve quality of the tenants. The strategies have been clearly
defined so that the venture does not conflict with Sirius's existing business.

For more information, please visit: www.sirius-real-estate.com
Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/
Follow us on Twitter at @SiriusRE

JSE Sponsor
PSG Capital

Date: 09-06-2021 11:00:00
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