Half-year Financial Report

Onward Homes Limited

Update on trading results (1st April 2025 - 30th September 2025).

Onward Homes Limited (the Issuer)

£350,000,000 2.125 per cent. Secured Bonds due 2053 (the Bonds)

ISIN: XS2317332562

Publication of interim trading statement for Onward Homes Limited for the period 1st April 2025 - 30th September 2025.

Onward Homes Limited (OHL) is the charitable registered provider of social housing within the Onward Group. Onward Group Limited (OGL) is the parent entity in the Onward Group and is a non-charitable registered provider of social housing.

A consolidated trading update has today been published and is available for viewing on Onward's website.

OHL has made a net surplus before tax for 2025/26 H1 of £15.9m (2024/25 H1: £9.1m) equating to an operating surplus (excluding fixed asset sales) of 19.7% (2024/25 H1: 14.8%). This is driven by a 4.5% increase in rental income and a 1.2% reduction in operating costs due to reduced volumes of maintenance works in H1 which is continuing in H2. Strategic asset sales remain strong and have increased 9% versus the same period last year and continue to present additional financial capacity for targeted investment. Expenditure is forecasted to increase in the latter half of the year, but forecasted performance remains in line with budget and covenant compliance.

For further information, please contact:

Onward Homes Limited

Dani James

Executive Director of Finance

3rd/4th Floor

Watson Building

4 Renshaw Street

Liverpool

L1 2SA

Email: [email protected]