Fact Sheet Announcement

Summary by AI ^BETAClose X

Real Estate Credit Investments Limited's Investment Manager's Fact Sheet as of March 31, 2026, reveals a diversified portfolio of 26 investments valued at £282.2 million, with £13.8 million in available cash and £15.2 million in Cash Equivalents. The company maintained net effective leverage at 31.6% and announced a 3.0p dividend per share paid in early April, alongside 650,000 shares bought back. The Net Asset Value per share decreased from 141.6p in February to 138.4p in March, impacted by a £3.3 million negative movement in asset valuations, primarily due to extended hold periods on UK assets and a write-down on a defaulted French office loan, partially offset by an accruals write-off.

Disclaimer*

Real Estate Credit Investments Ltd

29 April 2026

Real Estate Credit Investments Limited

Investment Manager Fact Sheet

Real Estate Credit Investments Limited (the "Company" or "RECI"), a non-cellular company incorporated in Guernsey, is pleased to announce that its Investment Manager's monthly Fact Sheet as at 31 March 2026 is now available on the Company's website at:

https://realestatecreditinvestments.com/investors/fact-sheets/#currentPage=1

MONTHLY UPDATE

As at 31 March 2026, the Company was invested in a diversified portfolio of 26 investments with a valuation of £282.2m. The Company's available cash was £13.8m, net effective leverage was 31.6% and it has £15.2m invested in Cash Equivalents (MMF).

In March, RECI announced a 3.0p dividend per share which was paid in early April 2026. Additionally, 650,000 shares were bought back.

At year end, RECI also reviewed and released prepayments and has written-off accruals which has resulted in a positive movement in the P&L.

February NAV	141.6p
Interest income	1.0p
Asset valuations	(1.5)p
FX	0.0p
Expenses	(0.2)p
Accruals write-off	0.4p
Dividend	(3.0)p
Share buybacks	0.1p
March NAV	138.4p

ASSET VALUATIONS

Movements in NAV due to asset valuations amounted to negative £3.3m in the month. These related primarily to the valuation of the equity upside on UK assets due to extended hold periods and a write down to one of the defaulted French office loans.

Asset Valuations
French Offices	(0.7)p
UK Flex Living	(0.7)p
UK Student Accom	(0.1)p
Total	(1.5)p

For further information please contact:

Broker:	Darren Vickers / Alex Collins (Panmure Liberum)	+44 (0)20 3100 2222
Investment Manager:	RECIIR@cheynecapital.com (Cheyne)	+44 (0)20 7968 7450

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