Picton Property Income Limited Annual Report 2024

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Key Performance Indicators / Continued

EPRA KPIs EPRA NTA per share (pence) 96p

EPRA earnings per share (pence) 4.0p

EPRA vacancy rate (%) 9.2%

2024 2023 2022

96 100

4.0

9.2

3.9 3.9

9.5

120

7.2

Why we use this indicator The EPRA net tangible assets (NTA) per share, calculated in accordance with EPRA, measures the value of shareholders’ equity in the business. We use this to measure the growth of the business over time and regard this as the most relevant net asset metric for the business.

Why we use this indicator The earnings per share, calculated in accordance with EPRA, represents the earnings from core operational activities and excludes investment property revaluations, gains/losses on asset disposals and any exceptional items. We use this because it measures the operating profit generated by the business from the core property rental business. The growth in EPRA earnings per share is also a performance measure

Why we use this indicator The vacancy rate measures the amount of vacant space in the portfolio at the end of each financial period, and over the long-term, is an indication of the success of asset management initiatives undertaken.

used for the annual bonus and the Long-term Incentive Plan.

1 2 3

Our performance in 2024 The EPRA NTA per share has declined slightly this year as a result of the adverse valuation movements, despite earnings growth.

Our performance in 2024 EPRA earnings per share have grown this year to 4.0 pence per share, reflecting growth in income.

Our performance in 2024 Our vacancy rate has remained stable this year. However, it has improved subsequent to the year-end with the sale of a part-vacant office building, in line with our alternative use strategy.

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