Alternative Income REIT PLC

(the “Company” or “Group” or “AIRE“)

NET ASSET VALUE, DIVIDEND DECLARATION AND PORTFOLIO VALUATION UPDATE

TO 30 SEPTEMBER 2024

New target annual dividend of 6.2 pence per share (“pps”) for the year ending 30 June 2025†,

an increase of 5.1% on the prior year target of 5.9pps

Unaudited NAV total return for the quarter of 2.5%

Resilient portfolio well-placed to continue to provide secure, index-linked income with the potential for capital growth

The Board of Directors of Alternative Income REIT PLC (ticker: AIRE), the owner of a diversified portfolio of UK commercial property assets, predominantly let on long leases with index-linked rent reviews, provides a trading and business update and declares an interim dividend for the quarter ended 30 September 2024.

Simon Bennett, Non-Executive Chair of Alternative Income REIT plc, comments:

“Having achieved the Company’s target dividend of 5.9pps last year, subject to the continued collection of rent from the Group’s portfolio as it falls due, the Board has set a new dividend target of 6.2pps for the year ending 30 June 2025†, which represents an increase of 5.1% over the previous year.

At 30 September 2024, the Group’s unaudited NAV was £65.4 million, 81.3pps, representing a 0.5% increase over the previous quarter. When combined with the 1.625pps dividend paid in the quarter, this produces an unaudited NAV total return for the quarter of 2.5%.

The Group’s portfolio remains relatively insulated from market fluctuations, benefiting from being 100% let, achieving 100% collection of rent due, and a 95.9% index-linked rent review profile. The Board continues to actively seek properties to invest the remaining proceeds from the sale of the hotel in Glasgow which amounts to £2.2 million, which has taken longer than originally anticipated.

The Group produces a secure and increasing income stream and this is the second quarter where the valuation of the portfolio has risen, albeit modestly, and  the Group will continue to benefit from low borrowing costs until October 2025. I look forward to reporting on AIRE’s continued progress in the coming months.”