Greenman OPEN Monthly Update - July 2026

Welcome to the latest Greenman OPEN Monthly Update - the latest portfolio news, an updated position on Greenman OPEN's liquidity and redemption process, and what's new on our Education Hub.

OPEN's Portfolio Performance
Utilities
Greenman Energy (GME), OPEN's EV-charging subsidiary, continues to build out its footprint. Since launching from scratch in 2022, GME has completed 65,000 hyper-charges for over 17,000 customers across 96 charging points at 21 OPEN locations, generating approximately €1.3m in revenue to date.

A further 8 locations are targeted for hyper-charger installation by the end of 2026. GME also launched its own charging app, SPARK, in June, with over 4,000 returning customers already using the network.

Read more: Greenman Energy’s Footprint & Revenue Expands

Resources
Potager Farm has expanded its product range and sales network. Recent feedback from a local grocery retail partner suggests that the farm’s progress is moving in the right direction as their products arrive fuller and remain fresher on shelves – a meaningful signal for a retailer, since shelf-life reduces waste and supports margin on a category that’s hard to manage.

Read More: Potager Farm: Building Momentum

OPEN's Portfolio Sales, Redemption and Distribution Update
Portfolio Sales Progress
7 properties from the first portfolio have now completed sale. The remaining properties are progressing through a mix of individual asset sales and refinancing, and we will update you as this develops.

A second portfolio is now being brought to market, and we will keep you updated as this process advances.

Sale proceeds are first used to cover transaction costs and repay any loans secured against the properties sold. What's left after that goes towards rebuilding the Fund's liquidity reserve and settling the queued pre-gated redemptions, in that order, in line with our Fair Treatment Principle.

Redemption and Distribution Update
In the coming weeks Greenman will announce the date of the AGM of the Fund. The audited Q4 2025 NAV will be announced in advance of the AGM as normal, and will facilitate payment of distributions.

The Annual Report for the AGM will include a Letter to Shareholders, as in previous years. This year, it will set out a clear and comprehensive plan for settling redemptions, including the policy around the Forced Liquidity Penalty.

New on Greenman's Education Hub
• Understanding your Investment: Why Real Estate is a Long-Term Strategy
•The Overlooked Indicator Every Grocery Real Estate Investor Should Know

Important Note
This update is for information purposes only. Shareholders in Greenman OPEN are not required to act upon any of the information contained in this update.

This update includes forecasts, forward-looking statements and estimates. There is a significant risk that targets and milestones mentioned in this update may not be met or may not be met in the expected timeline and the performance of Greenman OPEN may be affected if these targets are not met.

This update also includes current and historic information. Historic data and past performance is not a good indicator of future performance. Capital at risk.

Nothing in this update should be considered as investment advice or as a recommendation to invest.