Full Year Results Statement

Assura plc

Accelerated investment, improved balance sheet and strong financial performance

23 May 2018

Assura plc (“Assura”), the leading primary care property investor and developer, is pleased to announce its results for the year to 31 March 2018:

Continued growth of the portfolio

• 28.8% increase in investment property to £1.7 billion (2017: £1.3 billion)
• 6.3% growth in diluted EPRA NAV per share to 52.4 pence (2017: 49.3 pence)
• 22.3% increase in rent roll to £91.0 million (2017: £74.4 million)

Delivering for investors

• 4.2% increase in EPRA EPS to 2.5 pence (2017: 2.4 pence)
• Profit before tax of £71.8 million (2017: £95.2 million) reduced reflecting the net impact of the £56.4 million early repayment costs payable to Aviva
• Dividend increased by 9.1% to 2.455 pence (2017: 2.25 pence)

Strengthened balance sheet enabling reduction in cost of debt

• Over £400 million, gross of expenses, raised from equity placing in June 2017 and share issue in December 2017
• Weighted average cost of debt reduced by 94 bps to 3.12% (March 2017: 4.06%)
• £211 million of Aviva debt repaid in January 2018
• Unsecured revolving credit facility increased to £300 million at initial margin of 150 bps
• £150 million notes in two tranches privately placed in October 2017, weighted average coupon 3.04%, maturities of eight and ten years

Well positioned, sector leader in a market that is in significant need of investment

• Current LTV of 26% (2017: 37%) giving Assura significant headroom for future investment
• Strong pipeline with £152 million of acquisitions and developments
• Scalable internally managed operating model, with in-house development team
• Consensus that primary care must play a bigger role in health provision
• Significant underinvestment in the nation’s primary care premises, many GP premises not currently fit for purpose
• Group operates in a highly fragmented market: portfolio of 518 medical centres compares with a total UK market of approximately 9,000 surgery buildings

Jonathan Murphy, CEO, said:

“We have delivered against our key objectives for the past year of growing the portfolio through acquisitions, strengthening the balance sheet to allow us to capitalise on the opportunities in our market and delivering sustainable returns to investors. Primary care remains key to the future requirements of the NHS. Our unique model, which delivers significant value to the NHS, and diversified funding structure, positions us well to deliver the improvements needed for a primary care estate that is fit for the future.”

Summary Results

For further information, please contact:

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company’s obligations under Article 17 of that Regulation.

Presentation and webcast:

A presentation will be held for analysts and investors on 23 May 2018 at 11am London time, with a webcast available from our website or via the following link:

http://webcasting.brrmedia.co.uk/broadcast/5ad4d1f35a296618f1792adc

Notes to Editors

Assura plc, a constituent of the FTSE 250 and the EPRA* indices, is a UK REIT and long-term investor in and developer of primary care property. The company, headquartered in Warrington, works with GPs, health professionals and the NHS to create innovative property solutions in order to facilitate delivery of high quality patient care in the community. At 31 March 2018, Assura’s property portfolio was valued at £1,733 million.

Further information is available at www.assuraplc.com

*EPRA is a registered trademark of the European Public Real Estate Association.