Hibernia REIT PLC Preliminary Results - May 2020

Hibernia REIT plc (“Hibernia", the “Company" or the “Group") today announces preliminary results for the financial year ended 31 March 2020.

1) Business update & outlook

• 93.5% of commercial rent for quarter ended Jun-20 now received, with 3.5% deferred, 2% due in June and 1% outstanding (same time last quarter 100% collected, same time in prior year 100% collected)
• 97% of residential rent for month of May-20 now received (prior months 99% or above)
• Our managed buildings have remained open and accessible as required throughout the COVID-19 lockdown
• We have prepared our buildings for increasing usage as the lockdown eases with individual building plans covering access control, physical distancing measures, cleaning/sanitising and signage
• 2 Cumberland, our sole active development site, reopened on 18 May: completion now expected by end of 2020
• Mark Pollard, our Director of Development, is retiring at the end of June with Gerard Doherty promoted to the role
• Market outlook negative in near term, with the full impact of the COVID-19 crisis on rental and capital values yet to be felt