Slide 1: CTP N.V. Financial Highlights Q3-2025
CTP N.V. Financial Highlights Q3-2025 6 November 2025
Slide 2: Q3-2025: strong financial results and continuous demand tailwinds
Q3-2025: strong financial results and continuous demand tailwinds Financial highlights Operational highlights €562m €802m 93% (93% as at 31 Dec 2024) 6.1 yrs (+15.1% vs. 9M-2024) (+32.7% vs. 9M-2024) (6.4 years as at 31 Dec 2024) Gross Rental income Net valuation result Occupancy WAULT €305m €0.64 (
Slide 3: CTP: pan-European platform and market leader in the CEE
CTP: pan-European platform and market leader in the CEE Core Markets Growth Markets 13.8m sqm GLA 2.0m Western European Markets BRNO Portfolio Value by Country (%) sqm GLA under construction NL AU GE 2.8% 1.3% 25.7m 10.7% BU 1.8% RS 3.8% sqm landbank €17.7bn PL 7.5% CZ 149MWp 41.7% GAV SK 7.4% Insta
Slide 4: Accelerated growth since IPO in March 2021
Accelerated growth since IPO in March 2021 IPO 03/2021 +134% +104% +200% SQM of GLA (in millions) 16.0 13.8 14.0 13.3 11.8 12.0 Growth in GLA Growth in Landbank growth in Investment 10.5 from 5.9 million sqm to from 12.6 million sqm to Property 10.0 13.8 million sqm 25.7 million sqm from €5.8 to €17
Slide 5: Embedded growth
Embedded growth Operator Developer Growth engine Leveraging 25.7 million sqm >1,500 clients €1 billion of land with potential development annualised rental income profit of by 2027 CTP International driving expansion > €5 billion into new markets and product innovation 5
Slide 6: Integrated and derisked business model drives annual double-digit NTA growth
Integrated and derisked business model drives annual double-digit NTA growth 13.8 mil. sqm GLA in existing parks / >1,500 clients 10-15% ~82% new space client developed per year retention 2.0 mil. sqm 73% of new leases signed under construction with existing clients 25.7 mil. sqm landbank 57% 33% in
Slide 7: Strong and consistent development track record
Strong and consistent development track record Expected YoC Pre-let at delivery Projects under construction 13.5% 94% 11.6% 92% 90% 10.8% 11.0% 80%-90% 86% 86% 10.3% 10.3% 10.2% target 80% 81% 80% 10.1% range 42% 38% 35% 32% 2018 2019 2020 2021 2022 2023 2024 Q3-2025 2018 2019 2020 2021 2022 2023 20
Slide 8: Unlocking the landbank value through profitable development
Unlocking the landbank value through profitable development FV of landbank on balance sheet of ~€60 per sqm Average construction costs ~€500 per sqm Total investment costs (€500 + 2 * €60) ~€620 per sqm Investment properties valued at ~€1,040 per sqm Potential revaluation gains ~€420 per sqm (68%) B
Slide 9: Strong leasing demand in 9M-2025 with increasing monthly rent
Strong leasing demand in 9M-2025 with increasing monthly rent Leases signed by sqm Q1 Q2 Q3 YTD Q4 FY 2023 297,000 552,000 585,000 1,435,000 542,000 1,976,000 +6% 9M-2025 YoY 2024 336,000 582,000 577,000 1,495,000 618,000 2,113,000 increase in sqm of leases signed 2025 416,000 599,000 562,000 1,577,
Slide 10: Adjusted for country mix, rent levels of new leases signed in 9M-2025 6% higher
Adjusted for country mix, rent levels of new leases signed in 9M-2025 6% higher than in 9M-2024 PL €5.51 NL €4.83 €10.28 €11.21 SK €5.54 €5.68 9M-2024 9M-2025 208,000 166,000 DE sqm sqm 9M-2024 9M-2025 2,000 18,000 €7.85 9M-2024 9M-2025 sqm sqm €5.77 141,000 53,000 Group CZ1 sqm sqm €5.86 9M-2024 9M
Slide 11: Increase in Heads of Terms signed, reflecting future leasing activity
Increase in Heads of Terms signed, reflecting future leasing activity Heads of Terms signed 350 300 250 200 150 100 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec #HoTs '23 #HoTs '24 #HoTs '25 NB: Figures may not add up due to rounding 11
Slide 12: Nearshoring drives demand from manufacturing tenants
Nearshoring drives demand from manufacturing tenants, which are strongly represented in CTP’s portfolio Portfolio September 2025 Leases signed in the last 24 months GLA split by industry (%) GLA split by industry (%) 1 Professionalization of supply chains, following CEE countries joining Other Other
Slide 13: Over 10% of portfolio leases to Asian clients producing in Europe for Europe
Over 10% of portfolio leases to Asian clients producing in Europe for Europe – and around 20% of new leasing GLA of Asian tenants 1 900 000 1 700 000 1 500 000 1 300 000 ~20% of leases signed in last 12 1 100 000 months 900 000 700 000 500 000 300 000 2018 2019 2020 2021 2022 2023 2024 Q3-2025 13
Slide 14: Structural long-term leasing trends
Structural long-term leasing trends Nearshoring Supply chain E-commerce growth High-tech industry professionalization and manufacturing in Europe for leveraging improved infrastructure and rising domestic consumption as German economy is Europe in the business-smart in CEE region in CEE region reinv
Slide 15: Strong and diversified international client base
Strong and diversified international client base Low operational and financial risk 35.7% 32.7% Top 50 Clients Top 50 as a % of Top 50 as a % of GLA split by industry (%) portfolio GLA Rental Income NB: Figures may not add up due to rounding 15
Slide 16: CTP's long-lasting tenant relations drive strong retention and collection rates
CTP’s long-lasting tenant relations drive strong retention and collection rates Occupancy1 (%) 95% 94% 94% 94% 82% 99.8% 93% 93% Tenant retention Collection rate FY-2020 FY-2021 FY-2022 FY-2023 FY-2024 Q3-2025 CTP’s market share in core markets2 4.5% 72% (%) 28.8% 28.3% 27.8% 27.5% 27.4% Like-for-li
Slide 17: All deliveries in 9M-2025 have been fully leased
All deliveries in 9M-2025 have been fully leased 553,000 100% Leased at delivery sqm delivered €35.5m 10.3% CTPark Niš Contracted rental income YoC 90% In existing parks or in new parks with >100k sqm potential CTPark Bucharest West NB: Figures may not add up due to rounding 17
Slide 18: Next growth phase locked in thanks to projects under development
Next growth phase locked in thanks to projects under development 2,036,000 10.2% 80-90% sqm under construction Expected YoC Expected pre-let at delivery 78% 10% 63%* €165m In existing parks In new parks with Pre-let 2025 deliveries Potential rental income >100k sqm potential (64% 9M-2024) *Pre-let i
Slide 19: Landbank offers opportunity to double portfolio
Landbank offers opportunity to double portfolio 2:1 build-up ratio allows to 30 CTP‘s landbank provides for greater growth compared to peers double GLA from current 25 landbank 20 Target to have an owned In million sqm land bank for 3 – 4 years of 15 developments 10 Continuous land scouting, 5 espec
Slide 20: Energy
Energy 138 149 → YoC target: 15% MWp Installed 100 → Cost per MWp: ~€750k – below market average thanks to CTP acquiring in bulk and PV ready roof structures since 2020 → Income: 1-year lag between installation and income, i.e. MWp installed in 2024 drive 2025 income 38 → 9M-2025 revenues: €12.4 mil
Slide 21: Growth plan on track to reach 30 million sqm by year 2030
Growth plan on track to reach 30 million sqm by year 2030 Standing portfolio & under construction Deliveries 2025: 1.3 - 1.6 million sqm Million sqm - owned Million sqm 16 2.0 14 1.8 2.0 12 1.7 10 1.3 13.8 1.2 13.3 1.0 8 1.0 11.8 0.9 10.5 0.6 0.7 0.6 6 7.6 5.9 4 2020 2021 2022 2023 2024 Q3-2025 2020
Slide 22: Financial results
Financial results 22
Slide 23: Financial highlights
Financial highlights In € million 9M-2025 9M-2024 % change Q3-2025 Q3-2024 % change Gross Rental Income 562.0 488.4 +15.1% 194.8 167.5 +16.3% Net Rental Income 549.0 475.9 +15.4% 188.6 162.1 +16.4% Net valuation result on investment property 801.6 604.1 +32.7% 203.7 169.7 +20.0% Profit for the perio
Slide 24: Gross Asset Value up 10.6% in Q3-2025 and 16.0% y-o-y
Gross Asset Value up 10.6% in Q3-2025 and 16.0% y-o-y Investment Property (IP), Investment Property under Development (IPuD) and Property, Plant & Equipment (PPE) (€ million) GAV: 5,872 8,460 11,486 13,633 15,980 17,679 261 2020 - 2024 1 381 CAGR: 28.4% 248 1 292 1 661 234 1 077 920 169 1 360 763 1
Slide 25: Rental growth, yield compression and pipeline drive valuation results
Rental growth, yield compression and pipeline drive valuation results Revaluation (YTD) (€ million) 900 +43.3 801.6 800 H1-2025 like-for-like revaluation +385.2 of +4.0% driven by like-for-like 700 ERV growth of +2.5% and 11bps yield compression 600 500 +373.0 400 300 200 100 0 Standing assets inclu
Slide 26: EPRA NTA up 10.5% in 9M-2025 and 14.0% y-o-y
EPRA NTA up 10.5% in 9M-2025 and 14.0% y-o-y EPRA NTA € per share +€1.67 €19.98 -€0.11 -€0.30 +€0.64 €18.08 FY-2024 Company specific adjusted Revaluation Others Dividend Q3-2025 EPRA EPS NB: Figures may not add up due to rounding 26
Slide 27: Total return
Total return € per share EPRA NTA growth 25 DPS paid €19.98 20 €2.20 -€0.30 €2.73 -€0.57 15 €2.59 -€0.48 €2.15 -€0.40 Total Return: +17% €8.32 -€0.17 €3.91 Total Return: +19% 10 Total Return: +18% 5 Total Return: +47% 0 31 December NTA growth Dividend NTA growth Dividend NTA growth Dividend NTA grow
Slide 28: Conservative valuation yields
Conservative valuation yields H1-2025 FY-2024 H1-2024 FY-2023 H1-2023 FY-2022 H1-2022 → At the Q1 and Q3 results, only IPuD projects are revalued, the standing portfolio revalued at H1 and FY Gross Portfolio yield 6.6% 6.6% 6.5% 6.7% 6.6% 6.5% 6.3% results → Reversionary yield1 compressed by 11bps i
Slide 29: Favourable maturity profile reflects active liquidity management
Favourable maturity profile reflects active liquidity management 3.2% Conservative residual Bonds maturity of debt Unsecured loans (JPY) (€ million) Unsecured loans (EUR) Secured loans Average cost of debt 2 158 1 885 1 496 99.9% Hedged / fixed 686 588 534 513 476 4.8 yrs 397 248 35 Average debt mat
Slide 30: Strong liquidity position and ample headroom to covenants
Strong liquidity position and ample headroom to covenants €2.4bn 9.2x Normalized Net Debt 30 September 2025 Covenant Liquidity to EBITDA Secured Debt Test 14.9% 40% 68% 45.2% Unencumbered Asset Test 190.6% 125% Unsecured debt LTV Interest Cover Ratio 2.5x 1.5x CREDIT RATINGS BBB Baa3 A- LTV target b
Slide 31: Proven good access to credit markets with €2.3 billion raised
Proven good access to credit markets with €2.3 billion raised Green Bond Samurai Loan Facility March 2025 March 2025 → €1 billion dual-tranche → JPY 30 billion (€185 million equivalent) → 6-year at MS +145 bps with Coupon 3.625% → 5-year at TONAR +130bps → 10-year at MS +188 bps with Coupon 4.250% →
Slide 32: Guidance
Guidance Guidance 2025 Growing dividend Dividend policy1 Dividend per share €0.310 €0.86-€0.88 70% - 80% €0.300 €0.290 €0.275 €0.250 2025 Company specific €0.220 €0.230 pay-out of Company specific adjusted EPRA EPS adjusted EPRA EPS +8-10% vs. 2024 €0.180 €0.170 Expected towards the lower end of the
Slide 33: Long-term potential
Long-term potential Annualized rent in million EUR Medium to long-term Short-term 96 >1,000 15 56 165 23 778 Annualized rent Completion of Filling up vacancy Indexation Reversion 2025- Future deliveries Annualized rent Reversion ≥2028 Full development 30/09/2025 existing pipeline to 95% 2025-2027 20
Slide 34: Outlook
Outlook → Leasing dynamics remain strong, with robust occupier demand, and decreasing new supply supporting ongoing rental growth → The Group’s pipeline is highly profitable with a YoC target of >10% and supplies tenant led growth. The YoC for CTP’s current pipeline remains at industry leading 10.2%
Slide 35: 30 million square metres by 2030
30 million square metres by 2030 2020 2025E 2030 5.9 million sqm GLA ∼15 million sqm GLA 30 million sqm GLA Including new market entries 35
Slide 36: Appendices
Appendices 36
Slide 37: Share price performance since the IPO
Share price performance since the IPO 160 140 120 100 80 60 40 20 0 March 2021 September 2021 March 2022 September 2022 March 2023 September 2023 March 2024 September 2024 March 2025 September 2025 FTSE EPRA/NAREIT Developed Europe CTP 37
Slide 38: Top Parks
Top 20 Parks Since: 2015 Since: 2006 Since: 2004 Since: 2015 Since: 2006 The Top 20 parks represent the core of the CTPark Network. They are thriving business communities, with a dynamic mix of clients from a broad range of RO CZ CZ RO CZ industries. Bucharest West Bor Ostrava Brno Bucharest GLA: 83
Slide 39: Top Parks
Top 20 Parks Since: 2024 Since: 2007 Since: 2002 Since: 2021 Since: 2024 The Top 20 parks represent the core of the CTPark Network. They are thriving business communities, with a dynamic PL CZ SK PL mix of clients from a broad range of CZ industries. Warsaw West Žatec Hranice Námestovo Warsaw South
Slide 40: EPRA EPS
EPRA EPS EPRA Earnings (€ million) 9M-2025 9M-2024 Earnings per IFRS income statement 862.8 737.0 Adjustments to calculate EPRA Earnings, exclude: Changes in value of investment properties, development properties held for investment and other interests 801.6 604.1 Profits or losses on disposal of in
Slide 41: Company Specific Adjusted EPRA Earnings P&L
Company Specific Adjusted EPRA Earnings P&L EPRA Earnings Company specific (€ million) IFRS Adjustments adjusted EPRA Earnings Rental Income 562.0 1.7 563.7 Service charge income 68.8 0.6 69.4 Property operating expenses (81.9) - (81.9) Net rental income 549.0 2.3 551.3 Net income / expenses from re
Slide 42: EPRA NAV
EPRA NAV EPRA Net Asset Value Metrics (€ million) EPRA NRV EPRA NTA EPRA NDV 30 September 2025 31 December 2024 30 September 2025 31 December 2024 30 September 2025 31 December 2024 IFRS Equity attributable to shareholders 8,243.9 7,351.2 8,243.9 7,351.2 8,243.9 7,351.2 Include / Exclude: i) Hybrid
Slide 43: EPRA NIY
EPRA NIY EPRA NIY and 'topped-up' NIY (€ million) 30 September 2025 31 December 2024 Investment property – wholly owned 17,418.0 15,732.1 Investment property – share of JVs/Funds Trading property (including share of JVs) Less: developments 1,660.5 1,076.8 Less: landbank 1,381.0 1,292.4 Completed pro
Slide 44: LTV
LTV LTV (€ million) 30 September 2025 31 December 2024 Investment Property 15,757.5 14,655.3 Investment Property under Development 1,660.5 1,076.8 Property, Plant and Equipment 260.7 248.4 Gross Asset Value 17,678.7 15,980.5 Bonds 4,790.5 4,043.1 Interest-bearing loans and borrowings from financial
Slide 45: Cost of debt
Cost of debt Cost of Debt (€ million) 30 September 2025 (LTM) 31 December 2024 Net finance costs (IFRS) -307.3 -181.1 To be excluded: Profit in loss from fin assets and liabilities for trading -1.5 -1.9 Exchange rate differences -20.2 5.9 Other financial income 5.3 37.2 Other financial expense -33.8
Slide 46: Portfolio
Portfolio GAV1 Standing2 Landbank2 IPuD PPE Portfolio split by value (in %) (€17,679m) (€14,377m) (€1,381m) (€1,660m) (€261m) Czech Republic 42% 43% 29% 36% 62% Romania 15% 16% 10% 7% 10% Germany 11% 10% 19% 9% 5% Hungary 8% 8% 8% 6% 5% Poland 8% 6% 12% 17% 2% Slovakia 7% 7% 9% 10% 2% Serbia 4% 4% 4
Slide 47: Portfolio
Portfolio Standing IPuD Landbank Portfolio split by sqm (‘000) (13,777 sqm) (2,036 sqm) (25,708 sqm) Czech Republic 4,499 33% 602 30% 8,267 32% Romania 3,053 22% 246 12% 4,141 16% Germany 1,730 13% 144 7% 1,647 6% Hungary 1,273 9% 130 6% 2,565 10% Slovakia 993 7% 135 7% 2,296 8% Poland 909 7% 420 21
Slide 48: Financial calendar
Financial calendar Event: Date: FY-2025 results 26 February 2026 Q1-2026 results 30 April 2026 Annual General Meeting 20 May 2026 H1-2026 results 30 July 2026 Capital Market Days September 2026 Q3-2026 results 29 October 2026 48
Slide 49: Disclaimer
Disclaimer This announcement contains certain forward-looking statements with respect to the financial condition, results of operations and business of CTP. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “pla
Slide 50: Maarten Otte, Head of Investor Relations and Capital Markets
Maarten Otte, Head of Investor Relations and Capital Markets Mobile: +420 730 197 500 Email: maarten.otte@ctp.eu 50