Social Housing REIT — Restoring earnings and confidence

Social Housing REIT (SOHO) operates in a structurally supported, well-regulated segment of the social housing market, which, when working well, generates sustainable, long-term, growing income for shareholders, improved outcomes for residents and savings to the taxpayer. As the new investment manager, Atrato, works to resolve current tenant issues and mitigate future risks, rent collection is improving. Combined with materially lower costs and fixed interest expense, H125 earnings increased significantly. If successful, plans to effectively ring-fence portfolio cash flows would mark a step change in earnings quality.