30 April 2025

SEGRO plc

Trading Update

SEGRO plc ("SEGRO" or the "Group") today publishes a trading update for the period from 1 January 2025 to 31 March 2025¹.

Summary

David Sleath, Chief Executive, said:

"SEGRO has had a good start to the year, growing our rent roll through asset management to capture reversion and drive rents, expanding our active development pipeline and progressing our data centre strategy. Long-term structural trends continue to support demand for modern, well-located warehouses and data centres, meanwhile the supply of new space in our chosen sub-markets remains constrained due to lack of available land, power and restrictive planning policies.

"Our portfolio is heavily weighted to supporting domestic consumption, particularly the two-thirds located in Europe's largest cities, and we therefore believe the direct impact of tariff policies on our portfolio will be limited. While it is too early to assess the effect they may have on broader economic activity, we remain on track for another year of strong growth in contracted rents and are confident in SEGRO's ability to deliver attractive compound earnings and dividend growth, with significant additional value creation upside from our data centre pipeline."

KEY HIGHLIGHTS^1,2:

1 In this statement, space is stated at 100 per cent, whilst financial figures are stated reflecting SEGRO's share of joint ventures. Operational and financial figures are stated for the period to, or at, 31 March 2025 unless otherwise indicated and the exchange rate applied is €1.20:£1.

2 Headline rent is annualised gross passing rent receivable once incentives such as rent-free periods have expired.

3 Based on values as at 31 December 2024, adjusted for the equity placing, acquisitions, disposals and other capital expenditure during the first quarter.

Financial calendar

Half Year 2025 results will be published on Thursday 31 July 2025.

CONTACT DETAILS FOR INVESTOR / ANALYST AND MEDIA ENQUIRIES:

This Trading Update, the most recent Annual Report and other information are available on the SEGRO website at www.segro.com/investors.

About SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 10.3 million square metres of space (111 million square feet) valued at £20.3 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in seven other European countries.

For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.

A commitment to be a force for societal and environmental good is integral to SEGRO's purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing low-carbon growth, Investing in local communities and environments and Nurturing talent.

See www.SEGRO.com for further information.             

Forward-Looking Statements: This announcement contains certain forward-looking statements with respect to SEGRO's expectations and plans, strategy, management objectives, future developments and performance, costs, revenues and other trend information. All statements other than historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations and all forward-looking statements are subject to assumptions, risk and uncertainty. Many of these assumptions, risks and uncertainties relate to factors that are beyond SEGRO's ability to control or estimate precisely and which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Certain statements have been made with reference to forecast process changes, economic conditions and the current regulatory environment. Any forward-looking statements made by or on behalf of SEGRO are based upon the knowledge and information available to Directors on the date of this announcement. Accordingly, no assurance can be given that any particular expectation will be met and you are cautioned not to place undue reliance on the forward-looking statements. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this announcement is provided as at the date of this announcement and is subject to change without notice. Other than in accordance with its legal or regulatory obligations (including under the UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority), SEGRO does not undertake to update forward-looking statements, including to reflect any new information or changes in events, conditions or circumstances on which any such statement is based. Past share performance cannot be relied on as a guide to future performance. Nothing in this announcement should be construed as a profit estimate or profit forecast. The information in this announcement does not constitute an offer to sell or an invitation to buy securities in SEGRO plc or an invitation or inducement to engage in or enter into any contract or commitment or other investment activities. Neither the content of SEGRO's website nor any other website accessible by hyperlinks from SEGRO's website are incorporated in, or form part of, this announcement.