Mission Statement, Vision, & Core Values (2026) of Primary Health Properties PLC.

As Primary Health Properties PLC sharpens its role at the intersection of healthcare and real estate, the company stands as a specialist REIT with a portfolio of 517 assets across the UK and Ireland valued at £2.81 billion (as of June 2025), focused on modern, flexible primary care premises let predominantly on long-term leases to government-backed providers such as the NHS and HSE - a strategy designed to deliver progressive returns through earnings growth and capital appreciation while advancing social impact by siting high-quality, energy-efficient buildings (BREEAM/nZEB standards) within local communities and actively pursuing accretive developments, forward-funded projects and asset management initiatives that bolster long-term, secure income streams.

Primary Health Properties PLC (PHP.L) - Intro

• Geographic footprint: United Kingdom and Ireland, serving urban and regional primary care needs.
• Tenant base: Predominantly government-backed healthcare providers (e.g., NHS in the UK, HSE in Ireland) and other primary care operators.
• Lease profile: Long-term, indexed leases designed to provide inflation-linked cash flow and low vacancy risk.

• Mission: To support the NHS, the HSE and other healthcare providers by being a leading investor in modern, primary care premises that enable excellent patient care.
• Vision: To be the partner of choice for healthcare providers seeking high-quality, flexible primary care facilities across the UK and Ireland.
• Strategic aims:
  • Create progressive returns to shareholders through earnings growth and capital appreciation.
  • Maintain a portfolio of high-quality buildings that meet clinical, accessibility and sustainability needs.
  • Preserve income resilience by prioritising long-term leases to well-supported tenants.

Primary Health Properties PLC (PHP.L) - Overview

• Mission: Support healthcare delivery across the UK and Ireland by being a leading investor in modern, primary care premises that enable integrated, accessible services.
• Stakeholder engagement: Active collaboration with government bodies, NHS Trusts, the HSE, clinical commissioning groups, and local health providers to respond to capacity pressures and service reconfiguration.
• Asset strategy: Provide flexible, modern properties designed to facilitate a broader range of community and integrated care services, including GP practices, urgent treatment centres, diagnostic hubs, and community health services.
• Value creation: Focus on long-term sustainable value via long‑lease investments, forward-funded developments and targeted asset management initiatives that are accretive to earnings and underpinned by secure covenants.
• Quality commitment: Deliver high-quality buildings for tenants and resilient, income-generating assets for shareholders, while actively monitoring standing investments and development pipelines.

• Development & asset management priorities:
  • Forward-funded developments to meet demand for modern primary care hubs.
  • Conversion and extension projects to enable multidisciplinary services and diagnostics.
  • Active asset management to improve yield, sustainability, and service flexibility.
• Risk & covenant management:
  • Concentration on public-sector-backed tenants and long leases to reduce cashflow volatility.
  • Prudent capital allocation to balance acquisitions, developments and returns to shareholders.
• Sustainability and social impact:
  • Investment in energy efficiency and building standards to reduce operating costs for tenants and support NHS/HSE decarbonisation goals.
  • Enabling local access to primary care, urgent care, diagnostics and community services-reducing pressures on acute hospitals.

Primary Health Properties PLC (PHP.L) - Mission Statement

• Provide modern, flexible primary care buildings that enable broader integrated care delivery and multi-disciplinary services.
• Support public healthcare providers (notably the NHS and HSE) by supplying premises that reduce demand on secondary care and improve patient access.
• Create long-term, sustainable value via healthcare real estate let on long-term leases backed by secure covenant strength.
• Deliver predictable, inflation-linked income and capital growth through standing investments, forward-funded developments and targeted asset management.

• Proactive portfolio management - renewing and re-gearing leases, upgrading buildings to modern clinical standards, and refurbishing where required to retain public-sector covenants.
• Development-led growth - forward-funding schemes and direct developments to deliver new fit-for-purpose primary care capacity in areas of demand.
• Tenant partnership - long-term collaboration with the NHS, HSE and other healthcare operators to design flexible spaces that support multidisciplinary care pathways.
• Sustainability & resilience - investing in energy efficiency and building standards to reduce operating costs for tenants and align with net-zero commitments.

• Occupational security and covenant quality: proportion of rent from public health bodies and long-term lease covenants.
• Development delivery: number of new clinical rooms / floorspace added via forward-funded and direct developments annually.
• Rental growth and indexation: proportion of rent with built-in indexation (RPI/CPI) and average contractual uplifts.
• EPRA NAV and dividend sustainability: capital values and distributable earnings that underpin shareholder returns.

Primary Health Properties PLC (PHP.L) - Vision Statement

• Prudent risk management: operate in a relatively low‑risk sector mix (long‑let, NHS‑linked tenancies and GP/primary care occupiers) to generate progressive, predictable returns to shareholders.
• Long‑term focus: expand and adapt assets to extend lease terms and create additional space for complementary local services, lengthening and increasing income streams.
• Experienced, innovative management: combine sector expertise and disciplined underwriting to drive conservative capital allocation and accretive growth.
• Social impact commitment: provide modern premises within residential communities to improve local access to healthcare, wellbeing and education services.
• Environmental integration: embed sustainability in development, aiming for high BREEAM standards in the UK and nZEB targets in Ireland.
• Community support: back initiatives that enhance health, wellbeing and educational outcomes locally.

• Lease extensions and space provision: proactively negotiate lease term extensions and design flexible floorplates to accommodate multi‑disciplinary services and allied health providers, increasing rental durability and service accessibility.
• Sustainability in development: target high BREEAM ratings on UK projects and nZEB performance in Ireland, integrating energy efficiency, low‑carbon systems and circular construction principles.
• Risk management framework: maintain conservative LTV, diversified income streams and focus on NHS‑linked cashflows to preserve income stability through cycles.
• Community partnership and social outcomes: collaborate with NHS trusts, local authorities and charities to site facilities where they reduce travel time for patients and broaden local service offers.
• Asset management and capital recycling: dispose of non‑core assets and reinvest in higher yield, longer‑dated opportunities that align with social and environmental objectives.

• Experienced leadership: a management team with sector‑specific experience in healthcare real estate, asset management and development to steward long‑dated income and deliver pipeline projects.
• Transparent reporting: disclose portfolio metrics, sustainability targets and social impact indicators to align investor expectations with operational outcomes.
• Stakeholder engagement: systematic dialogue with tenants, NHS commissioners and local communities to ensure developments meet evolving primary care delivery models.