Operations Review Portfolio Summary UHREIT’s portfolio consists of Grocery & Necessity and Self-Storage properties located across nine states, focused on the populous and affluent East Coast markets of the U.S. The aggregate NLA of the portfolio is approximately 3.6 million sq ft, comprising 20 Grocery & Necessity and two Self-Storage properties. Portfolio Valuation The valuations for Hudson Valley Plaza and Dover Marketplace were conducted by Newmark Valuation & Advisory, LLC, while all other property valuations were carried out by Cushman & Wakefield Inc. Both valuers were independently appointed by the Trustee of UHREIT. The total appraised value of the portfolio is US$774.3 million as at 31 December 2025, representing a 3.8%1 increase on a like-for-like basis as compared to FY2024. Valuation 31 December 2025 (US$’000) 31 December 2024 (US$’000) Change (%) Garden City Square – BJ’s Wholesale Club 56,300 57,800 -2.6% Garden City Square – LA Fitness 23,600 22,200 6.3% Albany – Supermarket2 – 23,800 N.M. Albany – Gas Station 4,400 4,410 -0.2% Price Chopper Plaza 21,000 20,500 2.4% Wallkill Price Chopper 12,400 12,800 -3.1% Hudson Valley Plaza 34,500 27,900 23.7% Wallington ShopRite 16,200 15,500 4.5% Piscataway Plaza 25,000 24,100 3.7% Towne Crossing 17,600 18,400 -4.3% Lawnside Commons 37,300 33,600 11.0% St. Lucie West 107,200 101,000 6.1% Arundel Plaza 47,400 49,500 -4.2% Parkway Crossing 31,500 30,500 3.3% BJ’s Quincy 33,700 32,500 3.7% Fairhaven Plaza 20,500 20,600 -0.5% Lynncroft Center 35,250 31,700 11.2% Penrose Plaza 58,000 56,150 3.3% Colonial Square 28,600 26,500 7.9% Upland Square 91,900 91,500 0.4% Dover Marketplace3 17,200 – N.M. Carteret Self-Storage 24,800 22,100 12.2% Millburn Self-Storage 29,900 29,800 0.3% Total 774,250 752,860 2.8% Grocery & Necessity Properties 719,550 700,960 2.7% Self-Storage Properties 54,700 51,900 5.4% Total 774,250 752,860 2.8% N.M. Not Meaningful 1 On a like-for-like basis, excluding properties acquired and divested during the year. 2 Divestment of Albany – Supermarket was completed on 17 January 2025. 3 Dover Marketplace was acquired on 1 August 2025. 33 ANNUAL REPORT 2025
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