Primary Health Properties to Release Interim Results for H1 2026 and Host Investor Presentation

PHP’s Strategic Role in UK and Ireland Healthcare Infrastructure Investment

Primary Health Properties PLC is a leading institutional investor specialising exclusively in modern healthcare infrastructure, managing a substantial portfolio valued at a36 billion across the UK and Ireland. The company focuses on acquiring, developing, and managing critical social assets that underpin primary care services in local communities. PHP’s business model targets high-quality healthcare facilities that deliver stable, long-term rental income from NHS trusts, private healthcare providers, and other healthcare operators. Its presence across both UK and Irish markets offers diversification and exposure to complementary healthcare systems and demographic trends in two countries.

The portfolio primarily consists of essential primary care infrastructure such as GP surgeries, health centres, and frontline healthcare facilities serving localized patient populations. These assets benefit from structural advantages including essential service provision that is difficult to relocate, operation within stable regulatory frameworks supported by government healthcare policies, and serving demographic groups with predictable, growing healthcare needs. PHP’s 30-year track record demonstrates its operational expertise in managing healthcare real estate investment complexities.

2025 Merger with Assura Establishes Leading FTSE 250 Healthcare REIT

In 2025, PHP completed a transformative merger with Assura, a significant UK healthcare property sector player. This consolidation created the UK’s largest listed healthcare REIT, elevating the combined entity into the top quartile of the London Stock Exchange’s FTSE 250 index. The enlarged group now enjoys greater scale, market presence, and financial resources than either company alone. This top-quartile FTSE 250 positioning enhances PHP’s visibility and appeal to institutional investors seeking large-cap healthcare infrastructure exposure.

The merger has delivered strategic benefits including increased share liquidity, enabling larger volume trading with reduced price impact, appealing to institutional investors managing sizeable holdings. The combined entity has expanded investor reach, attracting a broader range of investment managers and portfolio strategies. Additionally, the merger has lowered the company’s cost of capital, reducing borrowing expenses and improving financial efficiency for future investments. These enhancements strengthen PHP’s competitive position in capital markets and support disciplined growth aligned with shareholder value creation.

Demographic and Political Drivers Fueling Healthcare Infrastructure Demand

PHP’s portfolio benefits from robust operating metrics supported by strong structural factors in healthcare. The UK and Ireland face demographic challenges such as ageing populations that increase demand for healthcare services, particularly primary and community care. This trend provides a secular growth tailwind for healthcare infrastructure providers like PHP, as the volume and complexity of required services per capita rise. Management highlights the portfolio’s operation within a sector characterized by strong fundamental demographic drivers.

Furthermore, PHP benefits from a favourable political and policy environment. Both UK and Irish governments have committed significant public funding to modernize and expand healthcare infrastructure, focusing on strengthening primary care to alleviate pressure on secondary and emergency services. This supportive political backdrop directly benefits PHP’s assets and tenants. The company emphasizes the "positive political backdrop and the need for greater investment in healthcare infrastructure to support service delivery in local communities," reflecting ongoing policy priorities and infrastructure investment gaps that create long-term opportunities for healthcare real estate investors.

Consistent Progressive Dividend Policy Backed by 30 Years of Growth

Primary Health Properties maintains a disciplined approach to shareholder returns, supported by a 30-year history of progressive dividend increases. This long-standing record demonstrates confidence in generating rising cash flows and a commitment to predictable, sustainable capital returns. PHP’s dividend policy is designed to compound growth over time, rewarding long-term shareholders with increasing income streams. This approach appeals to income-focused institutional and retail investors seeking reliable, growing passive income.

The sustainability of PHP’s dividend growth relies on its attractive portfolio, strong financial platform, and disciplined operational management. The company cites its "attractive portfolio, strong platform with a robust balance sheet" as key to dividend sustainability and growth. Emphasis on "disciplined focus on rental growth and cost control" reflects management’s commitment to financial discipline while pursuing organic revenue growth through lease renewals and rent increases. The 30-year dividend track record evidences PHP’s ability to navigate economic cycles, property market fluctuations, and regulatory changes while maintaining distributions, underscoring management quality and business resilience.

Interim Results Presentation Details and Investor Access

PHP will deliver its interim results via a structured virtual presentation on Thursday, 30 July 2026 at 11.30am British Summer Time (12.30pm South African Standard Time), accommodating its international investor base. The presentation will be accessible through a live webcast at https://brrmedia.news/PHP_HY26 and conference call lines for the UK (+44 (0) 33 0551 0200) and South Africa (+0 800 980 512 toll free). Telephone participants should quote "PHP Results" to gain access.

The session will include a managed Q&A segment, enabling analysts and investors to engage directly with management for clarifications on financial metrics, portfolio performance, capital allocation, and strategic direction. A recording of the webcast will be available from approximately 3.00pm BST (4.00pm SAST) on 30 July 2026 via the PHP website at https://www.phpgroup.co.uk/, providing on-demand access for global investors.

Interim Results Content and Market Expectations for H1 2026

The interim results will disclose PHP’s financial and operational performance for the six months ended 30 June 2026, offering key data for assessing progress against full-year targets and historical trends. Information will include financial statements, portfolio metrics, rental income trends, tenant performance, lease maturities, and capital expenditures. Investors will focus on rental income stability, tenant credit quality, portfolio valuations, and any updates to dividend guidance or capital allocation strategies. The interim update serves as a checkpoint for dividend target achievability and cash flow resilience underpinning PHP’s progressive dividend policy.

Following the 2025 merger with Assura, these results provide the first opportunity to evaluate integration progress and quantify financial synergies and strategic benefits promised at merger announcement. Investors will assess cost savings, rental revenue enhancements from portfolio optimisation, and progress toward the lower cost of capital. The interim results establish a baseline to measure merger success against pre-merger expectations, critical for evaluating management’s corporate development execution.

Portfolio Scale and FTSE 250 Market Positioning

PHP’s a36 billion portfolio establishes it as a major asset holder in the UK healthcare real estate market with significant scale and influence. Post-merger, PHP’s top quartile ranking within the FTSE 250 reflects both portfolio size and market valuation premium. This status improves capital market access, institutional investor coverage, and inclusion in equity indices and mandates requiring minimum market capitalisation. PHP’s scale also delivers operational benefits such as economies of scale in asset management, lower administrative costs, stronger negotiating power, and enhanced capability for acquisitions, disposals, and capital structure optimisation. These advantages provide investors with confidence in PHP’s long-term capital access and operational stability, supporting dividend sustainability and value creation.

Healthcare Infrastructure Investment Thesis and Sector Resilience

PHP’s investment thesis is based on healthcare infrastructure as a resilient, defensive asset class with predictable cash flows, essential service provision, and strong structural demand. Primary care facilities are critical social infrastructure with high tenant retention and limited substitution risk. Tenants, including NHS-funded and private healthcare operators, have highly predictable income streams, making rent payments a fixed overhead with limited discretion, ensuring high cash collection certainty across economic cycles.

The sector’s resilience has been proven through multiple economic cycles and healthcare disruptions, including superior performance during the COVID-19 pandemic when primary care facilities remained operational despite lockdowns. The ageing populations in the UK and Ireland provide a multi-decade growth tailwind for healthcare property demand. PHP’s position as the UK’s largest listed healthcare REIT enables it to capitalize on these secular trends while maintaining cost discipline and rental growth to support its progressive dividend policy.

Investor Relations Contacts and Information Resources

PHP offers dedicated investor relations contacts to facilitate communication regarding interim results and company updates. The primary contact is David Purcell, reachable at +44 (0) 7921 190 136 or [email protected]. Senior management contacts including CEO Mark Davies and CFO Richard Howell are also accessible via these channels, reflecting PHP’s commitment to transparent investor engagement. Sodali & Co serves as financial public relations adviser, with contacts Elly Williamson and Madeleine Gordon-Foxwell available at +44 (0) 207 250 1446 or [email protected] for additional inquiries.

Investors can access ongoing company information, webcast recordings, presentations, and regulatory announcements on PHP’s corporate website at https://www.phpgroup.co.uk/. This multi-channel communication approach aligns with best practices and supports PHP’s transparent dialogue with its investment community.