INVESTOR RELATIONS

SHARE PRICES

SHAREHOLDER PROFILE

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IRISH INSTITUTIONAL PENSION SCHEMES 42%

EUROPEAN INSTITUTIONAL INVESTORS 37%

IRISH INVESTMENT MANAGERS 17%

IRISH CHARITIES, UNIVERSITIES 4%

INVESTMENT CASE

Ireland’s premier commercial property fund

  • Established 1967
  • €2.23bn prime commercial property

IPUT is the leading commercial real estate fund in Ireland. We provide strong, consistent income returns to our investors from a portfolio of high quality office, retail and industrial properties with a clear focus on Dublin's CBD and its surrounding areas.

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Delivering consistent income returns from Dublin commercial property

  • €492M returned to shareholders 2007-2106
  • 20 year average total property return of 10.8%

IPUT manages a significant portfolio of high-quality assets in key locations in Dublin, one of Europe’s top performing property markets. We actively manage our properties and invest to add value and secure stable income returns. As the longest established property fund in Ireland, we have a track record of performance through multiple cycles that has provided consistent income returns over the long term.

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Our long term focus is underpinned by objective assessment of market outlook and risks

  • Team experience developed across multiple cycles
  • Engagement with key stakeholders and objective analysis of current risks

Our management and investment strategy is informed by an objective assessment of economic outlook and the cyclical nature of property markets, and the external factors impacting on them. We make decisions to ensure the Fund meets its objective of providing consistently strong income returns with appropriate risk.

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A portfolio of best-in-class assets expertly managed

  • €1.2BN Deployed since 2012 AT 6% Yield
  • Current regeneration projects to generate yield on cost of 8.5%

We invest in prime best-in-class office, retail and industrial real estate assets weighted in favor of commercial offices located within Dublin's top performing CBD. We optimize income through active management and add value through targeted investment and redevelopment. Our team drives performance with a clear strategy and a deep understanding of our markets. As an internally managed fund, IPUT's management costs are the lowest of any fund in Ireland, and amongst the lowest internationally.

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our reputation for quality, integrity, and social responsibility

  • Minimum LEED gold standard on new developments
  • Engage in initiatives to improve the public realm

We seek to enhance and protect the long-term value of our buildings by the insightful use of quality materials and design. We are respectful of our neighbours and the fabric of the city in which we operate. The positive legacy we leave is important to us.

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PERFORMANCE V BENCHMARK

Q3 Breakdown of Growth Drivers
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CAPITAL GROWTH 74%

INCOME RETURN 26%

FINANCIAL HIGHLIGHTS

Dividend yield represents the dividends earned per share expressed as a percentage of the average net asset value per share over the entire year.

Net rental income represents gross rental income after deducting operating property costs, net service charge costs and after accounting for the net effect of the amortisation of lease incentives.

Total Shareholder Return represents the movement in the net asset value per share plus dividends per share earned in the year, expressed as a percentage of the net asset value per share at the beginning of the year.

Total Property Return reflects the movement in property capital values during the period, less any capital expenditure incurred, plus capital receipts and net income, expressed as a percentage of the property value at the beginning of the year plus capital expenditure, as calculated by IPD. IPD produces independent benchmarks of property returns. The IPD Ireland Quarterly Property Index measures ungeared total returns to directly held standing property investments from one open market valuation to the next.

INVESTOR RELATIONS CONTACT:

COLM FOLEY, HEAD OF INVESTOR RELATIONS

FREQUENTLY ASKED QUESTIONS

Q. What is IPUT plc?

A. IPUT plc is a successor to the Irish Property Unit Trust. It is an unlisted limited liability umbrella investment company with variable capital and segregated liability between its sub-funds.

IPUT plc is authorised and regulated by the Central Bank of Ireland as a qualifying investor alternative investment fund (QIAIF) and as an internally managed alternative investment fund under the European Union (Alternative Investment Fund Managers) Regulations 2013.

Q. What is the IPUT Property Fund?

A. The IPUT Property Fund is the only sub-fund of IPUT plc and consists of over 94 commercial properties primarily located in Dublin.

Q. Who can invest in the IPUT Property Fund?

A. The Fund is open to both domestic and international “Qualifying Investors”. A Qualifying Investor is (i) an investor who is a professional client within the meaning of Annex II of Directive 2004/39/EC; or (ii) an investor who receives an appraisal from an EU credit institution, a MiFID firm or a UCITS management company that the investor has appropriate expertise and knowledge to adequately understand the investment in the Fund; or (iii) an investor who certifies that they are an informed investor by providing sufficient written confirmation.

Q. Is there a minimum investment amount?

A. The minimum investment is €100,000 with a minimum shareholding of €1,000,000.

Q. How can one invest in the IPUT Property Fund?

A. An Application Form must be completed and sent to the Fund’s Administrator.  Copies of the Application Form, Prospectus and Supplement are available from IPUT plc.  To retain copies of these documents please send an email to enquiries@iput.com

Q. When can shares in IPUT plc be purchased and sold?

A. The dealing days are the first business days of January, April, July and October.

Q. What are the Dealing Deadlines?

A. The dealing deadline for acquiring shares in IPUT plc is the business day which is at least three months prior to the relevant dealing day.  The dealing deadline for the redeeming of shares is on the business day which is at least six months prior to the relevant dealing day.

Q. How often is the Fund valued?

A. The Fund is valued on a quarterly basis.

Q. How often are dividends paid?

A. Dividends are paid on a quarterly basis.

Q. Who are IPUT’s Depository and Administrators?

A. IPUT’s Depository is Northern Trust Fiduciary Services (Ireland) Limited.  IPUT’s Administrator is Northern Trust International Fund Administration Services (Ireland) Limited.

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GLOSSARY AND TERMS

Net Asset Value (NAV)

The Net Asset Value per share represents the market value of the Fund’s property portfolio plus all other assets held, less any liabilities, divided by the number of shares in issue at the valuation point.

Offer Price

The Offer Price per Share represents the Net Asset Value per Share at the relevant valuation point plus a provision for duties and charges to cover the costs associated with acquiring commercial property in the Republic of Ireland.

Repurchase Price

The Repurchase Price per Share represents the Net Asset Value per Share at the relevant valuation point less a provision for duties and charges to cover the costs associated with disposal of commercial property in the Republic of Ireland.

Capital Raised

Cash received from the issuance of new shares.

Dividend Per Share

Annual dividend declared divided by the weighted average number of shares in issue.

Estimated Rental Value (ERV)

The open market rent that a property could reasonably be expected to achieve on a new letting or rent review.

Income Yield

Annual rents receivable on an investment property expressed as a percentage of the total acquisition cost.

Net Asset Value Per Share

Net assets divided by the number of shares in issue at the reporting date.

Net Rental Income

Gross rental income less operating property costs, net service charge costs and after accounting for the net effect of the amortisation of lease incentives.

Occupancy Rate

The estimated rental value of let units as a percentage of the total estimated rental value of the portfolio, excluding properties which are undergoing refurbishment/development and are not available to let as at the reporting date.

QIAIF

Qualifying Investor Alternative Investment Fund.

Total Expense Ratio

Total Management and Fund expenses as a proportion of the weighted average net asset value of the Fund.

Total Property Return (IPD)

The movement in property capital values during the period, less any capital expenditure incurred, plus capital receipts and net income, expressed as a percentage of the property value at the beginning of the year plus capital expenditure, as calculated by Investment Property Databank (IPD).

Total Shareholder Return

The movement in the net asset value per share plus dividends per share earned in the year, expressed as a percentage of the net asset value per share at the beginning of the year.

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