REG - Life Science REIT - Portfolio Valuation and NTA Update

Life Science ReitAnnouncement

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RNS Number : 2483O  Life Science REIT PLC  09 January 2026

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This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR").

For immediate release

9 January 2026

Life Science REIT plc

(the "Company")

Portfolio Valuation and NTA Update

The Board of Life Science REIT plc today announces that its portfolio
valuation as at 31 December 2025 was £332.6 million, representing a 7.8%
decline from the 30 June 2025 portfolio valuation of £360.6 million.

In addition, due to further drawdowns from the Company's debt facility to fund
the development pipeline assets, the benefits of which are yet be reflected in
the portfolio valuation for this period, the unaudited 31 December 2025 EPRA
NTA was £201.8 million, or 57.7 pence per share, representing a 13.0% decline
from the 30 June 2025 EPRA NTA of £232.1 million, or 66.3 pence per share.

The fall in value is predominantly due to outward yield shift across the
portfolio, which is in line with wider market trends, but particularly impacts
certain assets within the portfolio which are experiencing higher ongoing
vacancy levels.  The drop off in VC and second phase funding for life science
companies has been a particular drag on laboratory occupier demand across the
key "Golden Triangle" markets.

With reference to specific assets, the most significant decline has been at
Cambourne Park Science and Technology Campus.  This has been the result of a
number of factors including: in particular, ongoing vacancy of the fitted lab
units; structural vacancy across the park and uncertainty around a pending
lease expiry with one of the larger occupiers. Although lease regears with the
two largest occupiers have been agreed and ERVs have been maintained, the
vacancy levels and capex requirements have had a significant negative impact
on the year end value.  Due to the absence of lab take up to date, the park
has now been valued on the basis of an office/business park rather than a
prime life science/technology park.

Across the remainder of the portfolio values were down more modestly, again
predominantly driven by outward yield movement. Improving occupational demand
at Oxford Technology Park saw ERV growth on the park of nearly 5% over the
period from June 2025.  The lease regear with Thought Machine at Herbrand
Street in Bloomsbury also helped to mitigate further market yield softening.

The Company will announce its audited annual results for the year ended 31
December 2025 in April 2026.

The individual responsible for releasing this announcement is MUFG Corporate
Governance Limited.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 Life Science REIT plc

 Claire Boyle, Chair                                                            via Panmure Liberum

 MUFG Corporate Governance Limited - Company Secretary

 labs_cosec@cm.mpms.mufg.com

 Panmure Liberum - Financial Adviser & Corporate Broker                         +44 20 7886 2500

 Tom Scrivens / Chris Clarke / Alex Collins / Ashwin Kohli

 G10 Capital Limited - AIFM                                                     +44 20 7397 5450

 Maria Baldwin

 FTI Consulting - PR Adviser

 Dido Laurimore / Richard Gotla / Oliver Parsons                                +44 20 3727 1000

 LifeScienceReit@fticonsulting.com (mailto:LifeScienceReit@fticonsulting.com)

 

The Company's LEI is 213800RG7JNX7K8F7525.

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